Customers of DBS, one of the leading banks in Asia, will soon be able to carry out their banking operations by via text chat. Customers will be able to use natural text messaging to converse with DBS from their favourite mobile messaging app, manage their money across accounts, track expenses and even make payments in the process, […]
International financial services firm Morgan Stanley said it expects the formation of bad loans to decline 40% this financial year, based on industry feedback. “Our view is that new NPL (non-performing loans) formation will decline by ~40% YoY in F17. It will still be high, but given the surge in F16, it should decline meaningfully […]
Blue Coast Hotels Ltd, the owner of the property of Park Hyatt Goa Resort & Spa said the Bombay High Court has quashed the recent auction of the hotel by IFCI. “By Order dated March 23, 2016 uploaded on April 4, 2016, the Hon’ble High Court of Bombay has quashed and set aside the Order […]
IndusInd Bank and online payment company Payu India entered into a strategic partnership too joint solutions. “The partnership is aimed at bridging the gap between conventional banking world and the new age online payment systems,” the private sector bank said. It will help bring the full suite of consumer banking products online, it added. “The […]
All India Bank Officers’ Association, the second largest organisation of bank officers, said it would support the upcoming strike by IDBI employees against disinvestment of IDBI Bank. The government is reportedly planning to bring down its holding in the bank below 51% like it did in case of Axis Bank (formerly UTI Bank). “The entire […]
Federal Bank has joined a group of 11 other banks to offer instant money transfer facility using ATM cards. Customers of Federal Bank can transfer money to those of any of the other 11 banks (as well as to Federal Bank customers) by visiting Federal Bank ATMS. At present, money transfer requires a visit to […]
The government of India will invest Rs 857 cr into Corporation Bank as part of its bank recapitalization efforts, the public sector bank said. Public sector banks, including the State Bank of India, are facing mounting NPAs or defaults as big debtors, such as corporations, refuse to, or are unable to make payments. The taxpayer […]
ICICI Bank, India’s largest private sector bank, introduced a new product — ICICI Bank Saral-Rural Housing Loan — which will carry only the bank’s base interest rate. “Applicants from rural areas including women borrowers as well as seekers from weaker sections can now avail home loans at the ICICI Bank Base Rate which is currently […]
Even as many voices said that the Reserve Bank of India is unlikely to cut interest rates further this year, the real estate sector — though disappointed by today’s actions — is holding out hope that it will do so in coming months. On the RBI’s decision not to cut rates during its third monetary […]
Federal Bank is promising low interest rates and quick processing for personal loans for salaried employees under its new Fed Premia scheme. Under the scheme, salaried borrowers can avail personal loan up to Rs.10 Lakh with repayment period extending up to 48 months. It will offer “competitive interest rate and the quick processing time,” the […]
IDBI Bank has launched a unique kiosk-based branch that will provide services such as issue of demand drafts and pay orders and request of cheque leaves 24×7. “IDBI Bank would be the first bank in the country to make available these services on 24X7 basis,” the government-controlled bank said. These Kiosks will also have the […]
IndusInd Bank said it completed the acquisition of Diamond & Jewellery financing business and related deposit portfolio of Royal Bank of Scotland N.V. in India. With this, the Bank said, loan portfolio is approximately Rs.41 billion has been transferred to the bank from Royal Bank of Scotland. IndusInd Bank is a private bank in India […]
National Payments Corporation of India (NPCI), the umbrella organisation for retail payments in India, has awarded the contract to develop a Digital Payments Enablement Platform to RS Software. RS Software is a key provider of outsourcing services to payment processing companies, and counts Visa as its biggest customer. The platform is meant to facilitate & […]
Indicash ATMs, the largest independent operator of cash dispensing machines in India, has introduced a new cash-transfer facility. “Customers simply need to dip their card at an Indicash™ ATM, enter the PIN followed by the 16-digit debit card number of the beneficiary and confirm the amount to be transferred.,” Tata Communications Payment Solutions Limited said. […]
Federal Bank has launched ‘Soft PIN’ facility for Debit cards, which lets customers use debit and ATM cards almost as soon as they’ve got their hands on it. Soft PIN, which replaces printed ‘PIN- Mailers’, can be generated by the customers themselves through any of the Bank’s 1500-plus ATMs across the country, thus avoiding the […]
Axis Bank, India’s third largest private sector bank, has added touch authentication for transactions through its mobile app for its iOS app. The feature will not be available in the Android version of the app. Bank customers using Apple iPhone 5s and above can now complete their financial transactions such as bill payments, mobile recharge […]
State Bank of India (SBI), the largest commercial bank in India, has promised to cut home loan processing times to ten days under its new ‘Project TATkal’. “The initiative will help the home loan applicants to get the Loan within “10 Days” after receipt of application form and relevant supporting documents,” it said. Project TATkal […]
Citi India, the Indian unit of global banking giant Citibank, said its pre-tax profit rose 15.8 percent in the year ended March to Rs 5,923 crores from INR 5,113 crores in the previous financial year. Citibank is not obligated to report its results publicly as it is not listed in India. Profit After Tax rose […]
State Bank of India has launched an enterprise-wide loyalty programme – State Bank Rewardz through which it will reward its customers for various types of banking transactions with the Bank. Customers will be enrolled automatically into this programme as soon as they start using at least one of services that offer points. Customers will be […]
Axis Bank, India’s third largest private sector bank has launched a Fixed Deposit scheme titled “Fixed Deposit Plus”, which gives customers a higher rate of return on their fixed deposit investment compared to regular Fixed Deposit rates. The differential rates on Fixed Deposit Plus with a lock in are currently available for a minimum period […]
