Though the banking system in India still relies heavily on pen and paper and printed application and withdrawal forms, we have come a long way from standing in the queues to generate a demand draft or for submitting a deposit slip or a cheque. Now Its much more easier with NEFT, RTGS and IMPS. Out…
Bankathon – 20 HDFC Branches Launched in Goa in One Day
HDFC Bank has inaugurated as many as twenty branches throughout Goa in a single day. The one-of-a-kind event was inaugurated by the State Chief Minister, Mr. Manohar Parrikar. All the branches save one are located in rural regions with the aim of making banking accessible to all. Yes, HDFC Bank is extending its superior financial…
MUDRA Cards to Grace the Banking Market
Loan authorization mails from Micro Units Development and Refinance Agency (MUDRA) were circulated to around a hundred recipients from different regions of Andhra Pradesh at a gathering held in Hyderabad, presided over by Union Urban Development Minister Mr. M Venkaiah Naidu. MUDRA mortgages are designed to offer monetary support to upcoming entrepreneurs and independent professionals…
SBI, Axis and ICICI to see a Strain on Profits if they Lower Base Rates
If Axis Bank, SBI and ICICI Bank lower their base rate any further, they might experience a strain and a reduction in their profitability in the next few quarters. HDFC has been reducing its base rate consistently, by 35 basis points to 9.35% recently, and other banks seem to be unable to keep up. HDFC has…
Techy-Savviness by Gates Foundation to Aid Banks to boost Savings Account
The Bill & Melinda Gates Foundation will aid the recently accredited financial institutions in knowledge sharing and modernization as it presumes India to grow into an international platform for digital paying systems in the following three to five years. The Gates Foundation, which is the biggest private humanitarian association in the world, is not willing…
West Bengal Introduces Secure Savings Plan
After getting mass votes to start a new social security policy, the Honorable Chief Minister, Mamata Banerjee inaugurated the safe savings scheme, or the 3S as it is widely called. It is anticipated to deliver similarly as the fixed deposits interest rates of 9 to 9.5 percent, which the CM assured will be in ‘safe’…
Federal Bank Depending on SMEs to Recover from NPAs
Federal Bank is banking on small and medium enterprises (SMEs) and individuals to help it overcome the rising NPAs (Non-Performing Assets) and decreased loan demand from corporate sector. Federal Bank is struggling to compete with the commercial paper and bond market which is up to 1.5% cheaper than the normal bank credit as far as…
Yes Bank Goes Aggressive on Social Media with Twitter Campaigns
Yes Bank started a twitter campaign on the Independence day and has now started the “India Bole Yes” campaign. Yes Bank’s independence day campaign created a buzz on twitter where the followers were asked to raise the Indian flag. #RaisetheFlag brought Indians together with its campaign wherein when the user retweeted the message, they got…
How Safe is Social Media Banking?
Social Media Banking: Banks in India have jumped on to the social media bandwagon, anticipating to expand their customer base and consolidate all their banking channels. Facebook and Twitter are the top two social networking sites currently in demand by banks to aid in this process. The Reserve Bank of India has also expressed the…
Top 10 Reasons for Rise in Indian Economy
About Indian Economy: A tenth largest economy by nominal GDP and third largest by purchasing power parity, Indian economy has marked its footprints in the heart of the world. There is a trade relation among many nations and their economies, a helping hand from various global institutions like WTO, WHO, IMF, World Bank and a name encrypted…
5 Tips for Making your Money Secure
Money Management/Making Money Secure: We Indians have more up front for savings rather than spending. We have got a long vision and we plan our future accordingly. Retirement is a most crucial part of an individual and he/she should have a relevant amount of savings to plan their retirement. And for this purpose we develop…
How to Manage Risk and Return Factors in your Portfolio?
Portfolio Management: Every person would like to invest his/her hard earned money in some good investment options to get higher returns at minimum risk. The pile of investments made by them are called as their portfolio. For example: If they have 500 shares of one company, 100 mutual funds, some investments in gold and silver,…
India E-Club: A Blog for Sharing Knowlegde 