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ICICI Bank Brings PayWave NFC Cards For Contactless Payments
ICICI Bank, India’s largest private sector bank launched NFC enabled credit and debit cards that facilitates speedy contactless payments. ICICI is the first bank in the country to do so.
With these NFC enabled cards, consumers can…
India Post To Issue ATM Cards & Statements For Saving Account Holders
India Posts can now issue ATM Debit Cards to its saving account holders, and allow them to have bank statements from ATM machines, just like any bank holder in a private or national bank does. This has been termed as a huge step towards…
Now, Mobile banking Will Be Possible Over Basic Handsets Without Internet
In a news that will bring smiles to millions of basic handset users across the country, they will now be able to carry out most banking transactions (like PIN change, funds transfer, payment of low value bills, getting new cheque book, bank…
ICICI Bank To launch NFC Based Contactless Payment Cards
ICICI Bank is all set to introduce a brand new way to make payments: Contact less debit and credit cards. Using Near Field Communication (NFC) mechanism, contact less cards can save upto 90% of the overall time required to make a payment,…
Jan Dhan Yojana A Roaring Success. 2 Months, 7 Cr Accounts, Rs.5000 Cr Deposits
Indian PM Narendra Modi’s ambitious Jan Dhan Yojana has received tremendous response from all quarters of the society, as more 7 crore new bank accounts have been opened so far, collecting deposits of more than Rs 5000 crore within 2…
Free ATM Usage Cut To 5 For Own, 3 For Other Banks From Today. Rs 20 Per Transaction After That!
Update: We have been getting many calls and emails stating that "ATM usage for home bank is still free. However, various media reports suggest that it is capped at 5 for Metro cities. On the other hand, RBI circular is slightly confusing as…
KayPay : Kotak’s New Facebook Money Transfer Platform
Kotak Mahindra has launched world’s first Facebook based instant funds transfer platform: KayPay. The beauty of this online based Social banking platform is its simplicity: now anyone can transfer funds between their Facebook friends…
SBI’s ‘Chota ATM’ Costing $8 Coming To Every Nook & Corner Of India
SBI, in collaboration with Ezetap has announced the launch of ‘Chota ATM’, which can literally transform the mechanism of payments and ATM withdrawals all over the country.
‘Chota ATM’, which translates of ‘Little ATM’, enables kirana…
Jan Dhan Yojana: Modi’s Ambitious Initiative To Give Bank Account To Every Indian Family
Did you know that about half of Indians do not have a simple basic saving accounts. While the situation is improving, still millions are households in India still do not have any financial inclusion.
There have been number of initiatives…
RBI Issues Guidelines For Opening Small Banks & Payment Banks, Minimum Rs 100 Cr Capital…
Reserve Bank of India has issued guidelines for seeking license required for opening Small Banks and Payment Banks in India; along with request for suggestions and opinions from general public on this decision. As per the announcement…
Govt Asks Banks To Issue Rupay Cards, Mastercard-Visa Feeling The Heat
In the month of May, President Pranab Mukherjee inaugurated RuPay, which is India’s first national payment gateway. Created by National Payments Corporation of India, RuPay has several advantages compared to private payment gateways such as…
SBI Goes All Digital, Brings ‘SBI InTouch’ Branches With Next-Gen Facilities
India’s largest banking and financial services company: State Bank of India has embraced digital in a big way. They have conceptualized ‘SBI Intouch’ banking paradigm, which has been described as the ‘next generation banking initiative’.…
This Is Big! HDFC Enables Debit Card Payments On Google Play, Amazon.com & Other International…
I got an SMS alert today from HDFC Bank that really surprised me. The SMS alert mentioned…
“Now you can shop at your favourite international sites such as Google Play, Amazon.com & more with HDFC Bank Debit Card ending XXXX.”
Here…
RBI Puts Aadhaar Biometric Authentication For Cards On Hold, Pilots eWallet Cash-Out Facility
This news will definitely come as a big relief to credit card companies operating in India. In November last year, RBI had come out with a directive that said that Indian Banks who issued credit cards to consumers, will need to implement…
2 Brilliant RBI Initiatives: Bank Account For Minors & No Fees On Dormant Accts
Current RBI Governor Dr. Raghuram Rajan thinks unconventional and totally out of the box. This was yet again demonstrated as the RBI issued two initiatives which will certainly bring cheers from the ‘aam junta’.
Initiative 1: Minors…
Kotak Launches Banking Paradigm 3.0: Kotak Jifi Social Banking Account
Banking 1.0 was the phase when private banks were allowed to open shops across India. Banking 2.0 was the phase when ATMs were introduced and now, Kotak Mahindra has launched the next version of Banking, which we have aptly named as Banking…
Bank of India Introduces Cash Withdrawal Facility Without Bank Account
For the first time in India, a facility has been provided for those without any bank account to withdraw cash from ATMs.
Bank of India launched this service termed as “Instant Money Transfer” wherein any person without any bank account…
Indian Banking Sector To Create 2 Million Jobs In The Next Decade: Experts
Banking, Financial Services and Insurance (BFSI) sector, which is currently valued at $1.31 trillion is all set to create huge opportunities in India; and some financial experts are claiming that this sector will create around 20 lakh jobs…
Banks May Start Charging Fees For ATM Transactions…Repercussions?
ATMs are popular, very popular and the reason is obviously that it makes it super easy for any individual to withdraw cash any time they want. But the main reason is also because ATM transactions are free!
But looks like very soon you…
ATMs Will Soon Serve Extended Bank Branches With Live Interactive Teller On Video
Do you remember the first day when you had a video chat with your loved ones? Or the dreaded video conference with the Head Office from your local office. May be the first call was through Skype, an application popular for video calls. Just…