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ICICI Bank App

Apps of most Indian banks are still in an evolving stage. While some are compatible on Android, many are not yet geared for the iPhone platform and many major nationalized Indian banks still haven’t come out with mobile banking applications at all. Most features offered on apps of Indian banks remain fairly standard. Here’s a [...]

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RBI hints at sobering pay packages of foreign bank executives !

by Viral Dholakia
rupees1

The contentious issue of CEO salary and compensation to the senior executives across organizations has often spurred adverse reactions from the general public at large. A glaring example of this differential approach was witnessed during the 2008-recession; prior to which people wowed every record-breaking salary hike announced for the corporate honchos. However, post-recession, every …

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Pay your Maharashtra Govt dues Online [Duties, taxes, excise, etc]

by Viral Dholakia
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The Maharashtra government is going full throttle the online way. While online VAT payment is mandatory since more than a year now, the state government has moved a step forward to ensure that all types of tolls, taxes and statutory fines are paid online to plug loopholes in the system. In latest, the …

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Yes Bank hikes Savings deposit rate to 7% – Has your bank obliged?

by Viral Dholakia
bankinterestrates thumb Savings Bank Deposits to fetch more Interest rates now!

Since the RBI deregulated savings bank deposit rates in October 2011, Yes Bank took the lead to shore up its portfolio with low-cost savings deposits by offering 6 percent interest rate, prompted by its lowest savings bank to total deposit ratio in the industry. Other smaller banks like IndusInd Bank, Karnataka Bank and Sarawsat …

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Failed ATM Transactions – What you should know!

by guest
ATM transactions

Raghu: “Today is just not a good day for me” said Raghu in an angry tone. Which caught Nitin’s attention from away from his computer? Nitin: “What happened Raghu, never seen you so stressed.” Raghu: “Dude I just went to the ATM and withdrew Rs 5,000 only I don’t know what happened because …

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Nokia Money Mobile Wallet launched Pan-India!

by Arun Prabhudesai
nokia money

Mobile Banking is the future of financial transactions going forward – With over 800 million Indian users carrying mobile phones, it becomes an ubiquitous platform to push financial inclusion across the masses. It is expected that Mobile Banking will be USD 350 Billion Industry by 2015. In last couple of years, there have been …

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Home Loans in India, EMI and loan repayment [Lessons 101]

by Kaushambi

Not all of us are informed and aware of the terms that are used in a home loan or how a home loan will affect our lives in the future. People who are not from a finance background may not even understand some of the most basic home loan terms used in India. (So, if [...]

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Does deregulated Savings Deposit rates mean free lunches for depositors?

by Viral Dholakia
piggy-bank

RBI has deregulated savings bank deposit rates with effect from October 25, 2011. The clear implication as of now is – increased funding costs for the banking fraternity and party time for the depositors with idle funds in their savings accounts. One can expect the savings account interest rate to stabilize anywhere around …

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13th interest rate hike in 19 months – How many more?

by Viral Dholakia
RBI Rate Hike

The RBI has pulled the gauntlet with yet another 25 basis points hike in repo and reverse repo rates to 8.5% and 7.5% respectively. As a matter of practice, reverse repo rate is usually determined with a spread of 100 basis points below the policy repo rate. CRR remains unchanged at 6%. If you’re …

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‘White Labeled ATMs’ may soon be part of Indian Banking Sector!

by Ankit Agarwal

Despite the stupendous growth of banking sector in India in the last 10 years and the development of a highly competitive marketplace comprised of both domestic and foreign based banking entities in India, access to various banking services in India continues to remain a major problem. The access to banking is specially …

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HDFC Bank gets Hacked – Takes 22 days to fix it!!!

by Arun Prabhudesai
HDFCBank_hacked-1

Ok – so its not only the Government websites that are getting hacked. According to a blog post published by Zsecure – A serious vulnerability was discovered in HDFC Bank’s online platform, that potentially allowed hackers to gain private information of HDFC Bank’s customers. Although, it looks like the user information may not have …

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New Banking License may now be a Reality!

by Rishabh
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The last time RBI had issued banking licenses was 2004; Kotak Mahindra Bank and Yes Bank were established. We have seen the kind of wealth creation that they were able to create in just six years. However, RBI seems to have a concern on how to improve quality to existing banking services and …

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Mobile Banking to reach USD 350 bln by 2015 – Are these numbers correct ?

by Viral Dholakia
Mobile-Banking

Indian banking sector has been prevalent since the time unknown; but the decade-old mobile phone industry has boomed only much recently. However, wireless subscribers have far out-stripped the number of individuals with bank accounts at around 240 million users. Hopefully, this multi-fold growth in cellular industry provides the much-needed push to the banking sector …

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Most Social Media Friendly Bank in India!

by Arun Prabhudesai
Social Media Friendly Banks

Can you guess which are the most Social Media friendly banks in India ? If you thought of HDFC Bank, you are right – It is the most social media friendly private sector bank in India and when it comes to Public sector the honour goes to largest Bank in India – State Bank of [...]

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