All posts by banking

4000 new farmers to be benefited by Dena Bank’s tractor financing

Reported by | Updated: January 3, 2014

Dena Bank has offered total agricultural advances of Rs 7413 crore as of September 2013, which translates into YOY growth of 18.32%. The percentage of total agricultural advances to Adjusted Net Bank Credit stood at 10.59% as of June 2013 as against 10.21% as of June 2012. The bank has reduced the rate of interest […]

Several banks plan closure of ATMs at night

Reported by | Updated: January 2, 2014

Several banks have decided to shut down ATMs located in areas of low usage at night. Two south-based private banks – Karur Vysya Bank and City Union Bank – have taken such a decision. Karur Vysya Bank will shut down 200 of its more than 1,500 ATMs at night. It is not worthwhile to keep […]

HSBC India revises minimum balance requirement

Reported by | Updated: January 2, 2014

HSBC India has revised the minimum average monthly balance for its basic savings account, other than the no-frills account and corporate salary account, to Rs 150,000 with effect from January 2014. The average monthly balance is a combination of savings account, current account and fixed deposit balances. The customer will have to pay a charge […]

Canara Bank plans 14 new branches overseas

Reported by | Updated: January 2, 2014

Canara Bank is planning to expand its overseas presence and will add 14 new branches in overseas locations in the next two years. R.K. Dubey, CMD, said the bank is opening a branch in Johannesburg in the next three months, followed by those in New York, Dubai and Frankfurt by September 2014. With these branches, […]

V. Kannan is CMD, Vijaya Bank

Reported by | Updated: January 2, 2014

V. Kannan has taken charge as CMD of Vijaya Bank. He succeeds H.S. Upendra Kamath, who has demitted the office on attaining superannuation on 31 December 2013. Prior to the current posting, Kannan was ED, Oriental Bank of Commerce. A professional banker for 37 years he worked as general manager of Bank of Maharashtra. He […]

Seeking License, Expanding Inclusion

Reported by | Updated: January 2, 2014

G.S. Sundararajan, group director, Shriram Group, provides insightful views on the relevance of a banking platform for the group as well as growth indicators in the MSME and the retail segments: Reserve Bank of India is in the advance process of issuing new banking licenses. Some 26 applicants, ranging from public sector units and business […]

Image based Cheque Collection & Realization

Reported by | Updated: January 2, 2014

The Royal Bank of Scotland has launched a new digital cheque collection solution that shortens the time for cheque collection and processing. Given the geographical breadth of India, this new innovation will provide significant benefits for corporate and non bank financial institutions (NBFIs): The Royal Bank of Scotland has developed a solution, Remote Cheque Scanning […]

Secure Customers

Reported by | Updated: January 2, 2014

All the banks are now busy reviewing the security arrangements at their ATMs in the wake of the much publicized attack on a customer in Bangalore. Till recently, the decision to post a guard at an ATM depended on a bank’s perception about the risks to its assets/cash in that location. But now, banks need […]

Cosmos Bank directors’ elections

Reported by | Updated: January 2, 2014

The Sakahar panel, representing the current board of directors of Cosmos Cooperative Bank, had a landslide victory in the elections for the board of directors of the bank recently. The new board will be in office for the year 2015-2020. All candidates of the rival Nirdhar panel were defeated. Some 9,345 members out of 62,000 […]

Top 20 Innovations at Finnoviti: Unveiled!

Reported by | Updated: January 2, 2014

Finnoviti-2013, the second edition of the annual event that showcased innovations in the banking, financial services and insurance (BFSI) sector in the country, was held in Mumbai on 28 November. The event, organized by Banking Frontiers to recognize and reward the innovators in the sector, was marked by live wire conferences and technology sessions followed […]

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