There would be a sharp increase in acceptance of debit cards if RBI permits banks to subtract fees for payments made by using debit cards just like it is done when clients withdraw money from 3rd party ATMs.
Chennai based Vortex Engineering has introduced a special ATM built solely for the rural regions.
Personal Loan lender, Axis Bank has sent an application for approval of acceptance from Bank of England to allow it to start a branch in London, according to S K Chakrabarti, the bank’s executive director.
The biggest home loan lender in the country, State Bank of India has opened the 1st distinct branch meant exclusively for the ultra rich individuals (HNIs) in the country. The branch is the 1st of its type in India.
State Bank of Patiala has opened another 7 new branches in the Bathinda and Jalandhar districts of the bank. The bank, a subsidiary bank of State Bank of India has taken this measure to boost its access in rural Punjab.
Central Bank of India, which are the official bankers of Commonwealth games 2010, have launched pre paid cards meant for the players participating in the games and delegates for the current customers of the bank.
The country’s biggest two-wheeler manufacturer Hero Honda has introduced a new model of one of its best-sellers, Super Splendor, costing Rs 45,950 (ex- Delhi).
CIBIL and NHB are making active steps to lessen frauds connected with home loans. Both the companies have chosen to start a central registry of mortgaged homes. One of the prime causes for increasing number of bad loans was frauds in which the borrower took the loan by using fake documents.
Car loan lender IDBI Bank has removed the requirement for minimum balance on its current and savings accounts as well as majority of the service charges on these accounts. The bank has taken this step so as to boost its share of CASA deposits.
Personal loan lender, UCO Bank has obtained a 6 month extension from RBI for reaching the provision coverage ratio of 70%. The extension obtained by the bank is valid till March 31.