The additional step is the result of a Reserve Bank of India's guideline issued this February that mandates additional authentications/verifications based on information about the card-holder that is not contained on the card. This measure is expected to contain online card fraud.
CitiFinancial, Citibank India's non-banking finance arm, has reduced its asset book by one-third and its branch network by a quarter of the year-ago level as part of a restructuring exercise, Citi CEO for South Asia Mark T Robinson told Business Standard.
Banks that own ATMs charge an inter-change fee for providing the facility to the customers of other banks. For larger players such as SBI, ICICI, HDFC and Axis Bank, the shift would mean higher revenues as customers would tend to use the nearest ATM. Smaller banks, which already allow their account holders to access any ATM without having to pay a transaction charge, fear the bigger players, sensing an opportunity, may increase the inter-change fee over the next 6 months.
IndusInd Bank MD & CEO Romesh Sobti said that, during the fourth quarter, the private sector lender was expecting a 20 per cent growth in its loan book. "There are still a lot of good companies, and you don't write off everyone. There is nothing like zero-risk. It is low-, medium- and high-risk, and you avoid high-risk though they give you high returns," Sobti said after announcing the inauguration of new-look branches aimed at attracting more high networth customers.
© 2025 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances