'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
To educate customers on the modus operandi of financial fraudsters and share inputs on safe banking habits, banks are now coming up with awareness campaigns aimed at preventing customers from falling into the trap of fraudsters.
The Reserve Bank has asked the public to pay their income tax dues well in advance so as to avoid standing in long queues and stated that 29 agency banks are also authorised to accept such payments.
The latest fraud is a failure of management supervision and accountability, as no bad debt was generated and no cash was involved
'Currently, our individual first premium would be in the Rs 3,000-Rs 3,200 crore range. We want to take that to about Rs 6,000 crore in three years.'
The preference for digital banking now cuts across all customer segments.
The IIM have declared dates for the upcoming Common Admissions Test (CAT) 2010.
With the merger between HDFC Bank and HDFC Ltd complete, analysts said the next key monitorable for the Street would be successful resolution of merger-related hiccups, including employee-related churn and roll out of complete banking services across branches. At the bourses, they expect the stock to perform in-line with the benchmark indices in the near-term. "There's usually an initial period of consolidation after a merger as the entities work towards integration.
Foreign banks set the template in consumer banking in its infancy, but have almost vacated this booming space.
The Unique Identification Authority of India (UIDAI) has enabled a feature that would allow anyone with an Aadhaar number to open a bank account, without any paperwork.
The Budget for 2016-17 has announced a massive rollout of ATMs and micro-ATMs.
ICICI bank waives ATM charges.
Over 4 mn bank accounts could be dormant, suspects tax department.
Standard Chartered's India strategy will focus on wealth management while credit card will remain core to its business though will avoid competition with the country's private banks, said a senior executive of the British lender. "Our focus on wealth management and affluent clients are central to our existence. "We are strong in these areas and we want to grow in these areas.
Pawan Kumar Soni, a 55-year-old farmer based in Sri Ganganagar City in Rajasthan, became a victim of a cyber fraud when his 26-year-old son Harsh Vardhan opened a link from a phishing message that flashed on his mobile phone.
Partha Pratim Sengupta, who will be taking charge as the MD & CEO of Bandhan Bank in early November, has his task cut out. The Kolkata-based lender, which converted itself from a microfinance institution to a universal bank, is in its 10th year of operation. The bank was able to cut down the share of the micro loan book over these years.
Private lenders have also been expanding their branch and automate teller machine networks aggressively.
In a bid to gain a bigger share of the customer's wallet, banks are ramping up their cross-selling initiatives.
Students can register for the Common Admission Test between August 5 and September 24, while the exam will be held between October 16 and November 11, 2013.
That's the only way to convince those who have money to return to the bank fold, ditching other asset classes, says Tamal Bandyopadhyay.
ICICI Bank, HDFC Bank and Axis Bank reported healthy loan growth and asset quality.
State-run Bank of Baroda and Oriental Bank of Commerce are among those facing scrutiny.
Not all public sector banks are back in the black, but their collective net profit for the year is Rs 32,346 crore against a Rs 9,013 crore loss in the previous year, points out Tamal Bandyopadhyay.
If you are have an account with State Bank of India, HDFC Bank or Axis Bank you will have to pay higher charges for using ATM more than five times a month.
The last date to register for the Common Admission Test (CAT 2013) is September 24. Read on for details on how to register for the test...
India's top private banks might soon exit from the gold coin business.
Soon after the lifting of the 13-day moratorium at 6 pm, some customers took to social media complaining that they were not able to access certain services, including internet and mobile banking.
Backed by technology banks are expanding the branch network - and adding more to the workforce.
While digitisation and automation have made internal processes more efficient, front-end products are being enhanced digitally through robotics, artificial intelligence and botchats.
The CBI and ED are keeping a close eye on several bank accounts.
Finance Minister Arun Jaitley said the magnitude of the alleged black money transfer through state-owned BoB will only be known after completion of the multi-disciplinary probe.
Banking operations including cheque clearance across the country got affected on Monday as bankers under the aegis of the United Forum of Bank Unions have gone on a nationwide strike to protest against the proposed privatisation of two state-owned lenders.
Some of the public banks showed improvement; much more still needs to be done
Banks are expected to cut lending rates from April 1.
HDFC Bank becomes first Indian lender to develop mobile banking app for Apple's latest offering in India.
Small queues were witnessed at some bank branches on Tuesday for the exchange of Rs 2,000 notes against smaller denominations as part of the withdrawal exercise. As per the RBI guidelines issued on Friday, the exchange of Rs 2,000 facility is available from Tuesday. A person can exchange up to a limit of Rs 20,000 at a time without filling any form or requisition slip.
Day Two after the banks reopened following the prime minister's demonitisation announcement, the scenario remained just as chaotic as Day One, reports A Ganesh Nadar/Rediff.com.
For the baning sector, 2018 was a 'Year of Exits' - borrowers fled from the country as loans went kaput and many bank CEOs were forced to leave
Rediff.com's A Ganesh Nadar takes a tour of banks in a Chennai suburb and finds that nothing has changed in one month since demonetisation.
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