E BANKING INDIA

Finacle powers e-banking growth at Israel Discount BankOffers

2008-09-14T22:42:00.000-07:00

Israel Discount Bank and Infosys Technologies Ltd. announced that Israel Discount Bank (IDB), a leading financial group and the third largest bank in Israel has selected Finacle e-banking solution. Finacle e-banking will enable the bank to leverage Internet and mobile channels towards accelerating the growth of its corporate/SME and retail banking business. Finacle e-banking solution will form a key component of the bank’s portalisation strategy and will be offered as a portal-enabled solution on IBM technology. IDB’s new business strategy to leapfrog competition in the e-banking arena triggered the modernization of its technology platform. The bank planned to use the e-banking platform to launch innovative products and to provide enhanced customer service through the Internet and mobile channels. Towards this end, the bank needed faster time-to-market for launching new features and products for its SME & retail banking operations, previously managed on software applications developed in-house. Infosys shall be partnering with Israeli technology services firm, Taldor for implementation of the e-banking platform. Mr. Shai Vardi, Deputy Director Operation & IT Division, Israel Discount Bank comments, “Our present market environment required a radical transformation in our e-banking infrastructure to improve our performance and enhance the channel experience for our customers. We chose Finacle for its proven new generation solution and excellent delivery track record backed by a global technology leader like Infosys. We are delighted to partner with Finacle and look forward to enhancing our productivity leveraging Finacle.”Finacle e-banking solution leverages the latest technological development providing a richer and convenient user experience to the bank’s customers. Leveraging a proprietary context aware real-time transaction mobile middleware, the solution provides a unique user interface on each hand-held device and would enable the bank to offer differentiated mobile banking services in the local market. IDB corporate, retail and SME customers will be able to make enquiries and transactions through internet and mobile banking, which also includes making payments to beneficiaries and third party service providers. With robust security features, a rich visual experience and higher scalability the solution will enable the bank to innovate and adapt to changing customer requirements. Commenting on the win, Sanat Rao, Vice President & Head-Worldwide Sales, Finacle, Infosys Technologies, said, “This win is a significant breakthrough for Finacle as it further consolidates our position in the fast growing EMEA region. We are delighted to partner with a progressive bank like IDB which aims to establish a position of leadership in Israel. We are confident that with Finacle e-banking, IDB will be able to achieve its objectives of innovation and customer delight.”Taldor, the local business alliance partner of Finacle and one of the leading providers of technology services in Israel, has been contracted by IDB as the prime contractor for the implementation of this project. According to Doron Sapir, CEO, Taldor, “We are delighted to partner with IDB and Finacle in this technology upgrade exercise and are committed to ensuring that IDB achieves its future growth plans for the region.”As a leader in banking transformation, Finacle has a global footprint across 61 countries and has been acknowledged by top analysts including Gartner, Forrester and Celent among the leaders in the core banking solution space. Finacle is also the winner of a series of awards for its innovation and implementation capabilities, the most notable ones being The Banker Technology Award and The Asian Banker IT Implementation Award.

Indian Banking System

2008-08-21T23:08:00.000-07:00

The fundamental credit outlook of the Indian banking system is stable even as the sector continues to face challenges in raising fresh capital, according to a report by Moody's Investors Service. The report, released on Wednesday night, said India's banks have benefited from the strong economic cycle driving a surge in loans and providing considerable growth potential. “The recent global credit crisis and liquidity crunch in the financial markets had very limited to no impact on Indian banks, with only certain large banks with international operations mildly affected by asset price adjustments,” the report said.

South Indian Bank (SIB) Is the First Bank to Go Online

2008-08-14T21:20:00.000-07:00

Facility for Online booking through South Indian Bank payment gateway by devotees of Lord Sree Guruvayurappan was today inaugurated .Facility for Online booking through South Indian Bank payment gateway by devotees of Lord Sree Guruvayurappan was today inaugurated by Mr.Thottathil Ravindran, Chairman, Guruvayur Devaswom Managing Committee. Mr.M.Valsan, Executive Director of SIB presided over the function.Mr.Valsan in his presidential address stated that being a customer-oriented Bank, SIB is striving hard to render personalised customer service using its technological capabilities.“The new facility launched on the first day of the month of Ramayana for facilitating online booking, free of bank charges, of offerings by the devotees is actually SIB’s offering to Lord Guruvayurappan” , Mr.Valsan also said .” With the launch of the new facility, customers of SIB are facilitated to effect offerings with greater transparency and security at the click of a button” the Executive Director also stated .He also stated that SIB hoped to offer the services of booking of ‘vazhipadu” at any the 511 branches to the general public in the near future.
Mr.Thottathil Ravindran, Chairman, Guruvayur Devaswom Managing Committee in his inaugural address complimented South Indian Bank for being the first bank to come up with such a convenience banking product for the benefit of the devotees of Lord Sree Guruvayurappan .
Mr.V.V.Ratheesan, Administrator, Guruvayur Devaswom, Mr.C.T.Devis, Asst.General Manager & Regional Head and also Mr.M.K.Parameswaran, Senior Manager of the Bank also spoke on the occasion. Guruvayur Devaswom Managing Committee members –Mr.Gokulam Gopalan,Prof.T.R.Hari and Mr.M.Vasudevan.

2008-08-04T04:36:00.000-07:00

Punjab banking use in e banking

In India, the Bank of Punjab Ltd (BoP), with its banking offices is expanding its e-Banking facilities, namely - Internet banking, e-Alerts, kiosks, ATMs and mobile banking, mobile wallet, family electronic banking, BIPS, and e-Payment direct debit.

2008-07-30T23:20:00.000-07:00

Union e-banking

Union e-banking - Corporate refers to the Internet Banking service(s) offered by Union Bank of India to the corporate customers through Internet. The service is highly secure as it uses 128 bit SSL encryption for the data transmission through internet। Union Bank of India shall endeavor to provide to provide to the customer services such as enquiry about the balance in the customer's account(s), type of assistance to the customer, details about transactions, statement of account through UBI Corporate Internet Banking, request for fund transfer and such other facilities as Union Bank of India may decide to provide time to time.

2008-07-23T00:54:00.000-07:00

e-banking

Finacle corporate e-banking is a comprehensive, corporate and small business banking solution providing a single unified view of corporate banking relationships across asset and liability products, limits, trade finance and cash management. It is designed to support multiple channels including the Internet and mobile, and can be interfaced with disparate host systems and third-party applications.

2008-07-18T06:22:00.000-07:00

free online security software

Barclays Bank is offering its customers free online security software in a bid to lessen the amount of risk they face when banking online.The firm announced today that all of its users, those that are signed up to internet banking, will be treated to a subscription to Kaspersky Lab's antivirus and security software, as long as they download it from the Barclay's web site.

2008-07-14T23:03:00.000-07:00

e-banking।co.uk.
Traditional high street banks with some of the best deals available on the internet. Find out who gives you the best interest rates, and which banks offer the highest levels of service.

2008-07-10T06:24:00.000-07:00

RBI ROAD MAP for ebanking

MUMBAI, JULY : A Reserve Bank of India (RBI) committee has come out with the road map for electronic banking in India and has sought promulgation of a legislation on electronic funds transfer (EFT) system to facilitate multiple payment systems for banks and financial institutions.Recommending that the RBI Act 1934 should be amended, the committee said the central bank should be entrusted with the regulatory and supervisory powers on payment and settlement systems for electronic fund transfer. The committee on technology upgradation was chaired by RBI executive director A Vasudevan.

2008-06-30T02:59:00.000-07:00

South Indian Bank

South Indian Bank has registered an all time high net profit for the financial year 2007-08. The bank has declared a net profit of Rs। 151।62 crore for the current financial year as against Rs। 86।49 crore for the previous year registering a growth of 75।30%। With the advantage of 100% branches covered by Core Banking Solution, South Indian Bank was the first in its peer group to announce audited results for the financial year 2007-08.

2008-06-24T23:12:00.000-07:00

E-banking

The government of India enacted the IT Act, 2000, which provides legal recognition to electronic transactions and other means of electronic commerce। The RBI has been preparing to upgrade itself as a regulator and supervisor of the technologically dominated financial system। It issued guidelines on risks and control in computer and telecommunication system to all banks, advising them to evaluate the risks inherent in the systems and put in place adequate control mechanisms to address these risks। The existing regulatory framework over banks has also been extended to E-banking.

2008-06-20T06:39:00.000-07:00

biometric ATMs
India -- Banks and ATM machines are an unfamiliar sight in the rural countryside here, but the government hopes to change that with new technology that could ease the transition from cash to computers A pilot program will put 15 biometric ATMs at village kiosks in five districts across southern India। The machines are expected to serve about 100,000 workers who will use fingerprint scanners, rather than ATM cards and PINs, to obtain their funds.

Payments

2008-06-16T23:34:00.000-07:00

Sum banks have agreed to the implementation of the new system, with 90 per cent of Britain’s current accounts held by the relevant banks. These include 11 of the country’s biggest banks, such as Barclays, Citibank, Lloyds TSB, the National Australia Bank, HSBC and the Royal Bank of Scotland. Four other banks are involved in setting up the system, but are only allowing payments to be received and not sent – Alliance and Leicester, HBOS, Nationwide Building Society and Northern Rock.

2008-06-13T22:33:00.000-07:00

KIOSKS
Nachiket Mor, executive director, ICICI Bank, adds: "Internet based channels are key to the delivery of financial services in rural India. ICICI Bank has over 2000 rural Internet kiosks across India and we plan to increase this number significantly to cater to people at all levels of economic development."

RBI hike the repo rate

2008-06-12T00:12:00.000-07:00

GMT... lower Thursday after the Reserve Bank of India late Wednesday hiked the repo rate, the rate at which banks borrow from the central bank, by a ... signal to banks to raise interest rates.

Infosys dels in Philippines

2008-06-08T19:39:00.000-07:00

Indian IT services and software giant Infosys has inked a software deal with the Philippines subsidiary of China Bank. Under the contract, China Bank will deploy Infosys's Finnacle financial application as part of its new Internet banking infrastructure.

Barclays Bank e banking in India

2008-05-30T19:13:00.000-07:00

Barclays Bank have launched a mobilebanking service in India offers customers the chance to do their banking via their GSM cell phones. The ‘Hello Money’ service will be free to salary account holders, though other customers will have to pay 30 Rupees (£0.37) a month. The service will allow customers to make account enquiries, pay their bills and transfer funds via their mobile handset .

Vasco Digipass

2008-05-22T19:48:00.000-07:00

Union ebanking

2008-05-09T19:57:00.001-07:00

Union e-banking - Corporate refers to the Internet Banking service(s) offered by Union Bank of India to the corporate customers through Internet. The service is highly secure as it uses 128 bit SSL encryption for the data transmission through internet. Union Bank of India shall endeavor to provide to provide to the customer services such as enquiry about the balance in the customer's account(s), type of assistance to the customer, details about transactions, statement of account through UBI Corporate Internet Banking, request for fund transfer and such other facilities as Union Bank of India may decide to provide time to time.

Vasco e banking

2008-04-30T20:31:00.000-07:00

Over 1,000 financial institutions around the world rely on VASCO Digipass products to secure their Internet banking, telephone banking, Internet brokerage, and mobile-banking applications. VASCO's security solutions are based on VASCO Digipass and EMV technology; allowing financial institutions to offer their clients the peace of mind that unauthorized access to their online banking and brokerage applications is denied

E banking in India

2008-04-26T00:03:00.000-07:00

In an recent interview our finance minister talked about india’s plan to open up Indian Banking sector for foreign banks and reforming the sector to take advantage of international practices. Though this may sound good news for the Barclays, Citibank’s etc. Its also good news for indians who have higher rate of bank account usage against their other third world counterparts.

ATMs

2008-04-23T23:40:00.000-07:00

Automated teller machine networks have a storied history and a past filled with change due to consumer demands, legislation and economic changes. According to a Federal Reserve Report,* the number of shared ATM networks peaked in the mid-1980s, but has declined steadily since then, now giving financial institutions approximately 30 networks from which to choose.

Kigdom ebanking

2008-04-17T23:03:00.000-07:00

WITH a vision of turning around the banking culture in the country Kingdom Bank has extended its mobile banking service to Netone and Telecel subscribers.The service, which previously has been limited to Econet subscribers only, will allow the two network subscribers to do banking transactions over their cellular phones.“We are pleased to inform you that the barriers have once again been broken in a bid to bring convenience to you our valued client,” said Ms Bester Chiyangwa, the eBanking Client Relationship Officer at Kingdom Bank.

Biometric ATMs in India

2008-04-14T05:41:00.000-07:00

CHENNAI, India -- Banks and ATM machines are an unfamiliar sight in the rural countryside here, but the government hopes to change that with new technology that could ease the transition from cash to computers.A pilot program will put 15 biometric ATMs at village kiosks in five districts across southern India. The machines are expected to serve about 100,000 workers who will use fingerprint scanners, rather than ATM cards and PINs, to obtain their funds.Biometric ATMs are already in use in Colombia and a few locations in Japan, but haven't caught on in much of the rest of the world. As a result, biometrics companies are watching the experiment closely as a potential watershed for the industry.

Barclays banks moblile service

2008-04-09T01:48:00.000-07:00

Barclays Bank have launched a mobile banking service in India offers customers the chance to do their banking via their GSM cell phones. The ‘Hello Money’ service will be free to salary account holders, though other customers will have to pay 30 Rupees (£0.37) a month. The service will allow customers to make account enquiries, pay their bills and transfer funds via their mobile handset . To use the service, customers dial a number and then enter a specified PIN number, follow the automated instructions and select the option they require

Sydicate e banking and ATM inaurated

2008-04-04T02:03:00.000-07:00

In Coimbatore at the Gandhipuram branch of the Syndicate bank e-banking and ATM facilities were unveiled. The facilities were inaugurated by A.R. Nagappan, Director, of Syndicate Bankin Jun 2008.

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Bom ebanking workshop

2008-03-31T23:20:00.000-07:00

Chandigarh ,Bank of Baroda (BoB) at march first week organised a workshop on e-banking to familiarise its customers with the existing internet services available with the bank network, which can be utilised for speedy and effective disposal of banking needs. The workshop was inaugurated by Mr R K Lakhanpal, Deputy General Manager in which customers witnessed demonstration and practical tips being given to participants on the use of internet banking services, especially Automated Teller Machines (ATMs), Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) which are available across the 1,800 Core Banking Solutions branches of BoB country wide.

RSS Banking

2008-03-28T00:05:00.001-07:00

RSS is a commonly used protocol for syndication and sharing of content such as news articles. RSS is an XML-based summary of a web site. There are RSS "feeds", which are sources of RSS information about web sites and RSS "readers", which read RSS feeds and display their content to users.

Barclays Bank Launch MO.Banking

2008-03-24T23:24:00.000-07:00

Barclays Bank have launched a mobile banking service in India offers customers the chance to do their banking via their GSM cell phones. The ‘Hello Money’ service will be free to salary account holders, though other customers will have to pay 30 Rupees (£0.37) a month. The service will allow customers to make account enquiries, pay their bills and transfer funds via their mobile handset . To use the service, customers dial a number and then enter a specified PIN number, follow the automated instructions and select the option they require.

SEBI roll for Currency

2008-03-19T23:23:00.000-07:00

MUMBAI: Trading in rupee futures on an exchange in the country will soon be a reality with the government approving a framework in which the central bank will prescribe the policies while the Securities & Exchange Board of India (SEBI) will handle the trading, settlement and execution part.The proposal to kickstart exchange-traded currency futures, that allow investors to buy or sell currency at a future date at a pre-determined price, has been in the works for a while. Now, with the government, the Reserve Bank of India (RBI) and SEBI having agreed on the broad contours of the arrangement, work is apace to operationalise the process, an

IDBI Tieup with Union Bank

2008-03-17T03:50:00.000-07:00

Mumbai, Mar 13: India's leading financial services provider, IDBI Capital Market Services and Union Bank of India today announced their tie-up to offer e-trading services to the customers of this public sector bank.Announcing this at a press conference here, IDBI Capital MD and CEO S Muhnot and Union Bank CMD M V Nair said that these services are being provided through a portal, www.idbipaisabuilder.in.

Stock Exchange

2008-03-14T01:02:00.000-07:00

MUMBAI: The contagion effect of U.S. recession is continuing and the domestic Bombay Stock Exchange benchmark index (Sensex) fell sharply by 770.63 points or 4.78 per cent to 15357.35.The U.S. Government data on Thursday showed that retail sales were plunging and joblessness was increasing at an alarming rate. While the U.S. dollar continued its downward spiral, sinking against major currencies such as euro and the Japanese yen (a 12-year low against yen), analysts are expecting that the U.S. Federal Reserve would reduce interest rates by another 75 basis points by March 18.

Biometric ATMs

2008-03-11T23:22:00.000-07:00

-- Banks and ATM machines are an unfamiliar sight in the rural countryside here, but the government hopes to change that with new technology that could ease the transition from cash to computers.A pilot program will put 15 biometric ATMs at village kiosks in five districts across southern India. The machines are expected to serve about 100,000 workers who will use fingerprint scanners, rather than ATM cards and PINs, to obtain their funds.Biometric ATMs are already in use in Colombia and a few locations in Japan, but haven't caught on in much of the rest of the world. As a result, biometrics companies are watching the experiment closely as a potential watershed for the industry.

e-Banking

2008-03-07T08:34:00.000-08:00

Penalty due to non-payment of bill is not new to anyone of us. And quite obviously, who likes the long procedure of writing a cheque, standing in a long queue and then ensuring that the particular amount is available in your bank account? Similarly, Mr Sharma, who is on business tour for atleast 25 days a month, finds it difficult to clear his dues on time because of his busy schedule. He, like many of us, was possibly not aware of the online services, banks are offering these days. With just a click, all his dues would have been cleared long back. However, it’s never too late to mend.

Scop for reducing interest rates:FM

2008-03-04T07:54:00.000-08:00

New Delhi, Mar 4: Union Finance Minister P Chidambaram today said that there is a scope for reducing interest rates and deficits. He was speaking at an interactive session on the Union Budget at the National Council meeting of the Confederation of Indian Industry (CII) here today.
Chidambaram however, cautioned that interest rates were the most effective tool to contain inflation and there is a need to have growth with reasonable price stability.The Finance Minister said that the final authority on reducing interest rates was the Reserve Bank of India.

ICICI Branch in Amerca

2008-03-01T23:18:00.000-08:00

ICICI Bank, India's largest private sector bank, has opened its first branch in New York. It will manage salary accounts of US employees of large Indian companies like Infosys and Tata Consultancy Services.KV Kamath, managing director and chief executive officer, and Sonjoy Chatterjee, executive director of the bank, announced Friday that the US branch will start operating from Monday at midtown Manhattan here.On the occasion, Kamath rang the closing bell at the New York Stock Exchange, where the bank is listed.Under the licence granted by regulators here, the bank will initially provide services to corporate customers, but will get into general retail banking three months down the line."New York has the deepest pool of capital, and by operating here, we will grow our business," Kamath said.
The bank will service the various opportunities arising out of India's growth momentum and its burgeoning trade with the US, he added.

Union Budget Growth Oriented

2008-02-29T07:29:00.001-08:00

US-based Indian scholars today termed the Union Budget as growth-oriented and "populist" while lamenting the non-inclusion of any benefits for NRIs. "The budget is in line with expectations.

With the election year fast approaching, the Finance Minister has proposed a populist budget aimed at using fiscal measures to boost growth and control inflation," said Anirudh Sarathy, analyst for StreetEdge Investments in San Ramon, California. While describing the budget as a "good" one, Dr Kamala Edwards, President of the Indian-American Leadership Council, said Finance Minister P Chidambaram seems to have missed an opportunity to provide incentives to NRIs like China did. "One thing that is missing is that the Finance Minister should have given some more incentives for NRI investments like China has done for its citizens and this has been a very good feature because that made growth almost permanent for China," Edwards said.

Rights o issu of SBI

2008-02-25T08:54:00.001-08:00

NEW DELHI: The Cabinet approved a proposal to issue special marketable securities worth Rs 9,995.99 crore to subscribe to the rights issue of State Bank of India (SBI). The transaction will be completed in the current financial year. Further, a securities redemption fund will be created to redeem the securities on due date. It also gave its approval to modify an earlier decision to give statutory liquidity ratio (SLR) status to the bonds. “The government is likely to receive around Rs 1,449 crore additionally by way of dividend and taxes from the bank during the year 2008-09 against an expenditure of around Rs 825 crore as interest to be paid to the bank for the proposed securities,” an official statement issued after the meeting said.

Right of SBI

2008-02-25T08:54:00.000-08:00

RBI's Decision for Real Estate companies

2008-02-16T08:32:00.000-08:00

The Reserve Bank of India’s (RBI) decision not to cut interest rates has spooked real estate companies facing the brunt of a housing industry slowdown caused by the high cost of mortgage financing. RBI decided to keep interest rates unchanged in its third-quarter monetary policy review. Real estate companies were expecting a cut, especially in the backdrop of slowing home sales in major cities in the past few months.

Bank want tax breaks on intrest for infrastructure & pension fund

2008-02-12T09:42:00.000-08:00

NEW DELHI: Banks want tax breaks on interest from loans for infrastructure and pension fund contributions of staff in the forthcoming federal budget, a bankers' association said on Tuesday. This would lower costs of funding infrastructure projects, chief executive of the Indian Banks Association, H N Sinor, told reporters after a meeting of bankers with Finance Minister Palaniappan Chidambaram.

City Union Bank increase net profit Q3

2008-02-04T00:52:00.000-08:00

Chennai, January 31: City Union Bank Ltd has posted a 83 per cent increase in net profit at Rs 25.38 crore for the third quarter ended December 31, 2007 as against Rs 13.86 crore during the corresponding period in 2006. The bank's total business crossed the Rs 10,000 crore mark during the year and expects to post a total business of Rs 12,000 crore by March 2008, City Union Bank (CUB) Chairman S Balasubramanian told reporters

Indian Banks turn for US

2008-02-01T04:28:00.000-08:00

NEW DELHI: Leading banks from India, including public sector major the State Bank of India (SBI) and private sector behemoth ICICI Bank, are looking to expand their presence in the US in a big way by setting up their branches in the country. SBI, the country's biggest lender, last week received the regulatory approval for a new branch in New York. In the US, it already operates branches in New York and Chicago, in addition to an agency in Los Angeles, California and a representative office in the Washington.

Bob third quarter net profit at rs.501.05Crore

2008-01-30T05:37:00.000-08:00

Mumbai, January 30: Public sector Bank of Baroda on Wednesday posted a 52.23 per cent increase in net profit at Rs 501.05 crore for the quarter ended December 31, 2007, against Rs 329.13 crore in the corresponding period a year ago. The total income of the bank grew 35.68 per cent at Rs 3,620.18 crore for the quarter under review, compared to Rs 2,668.11 crore in the same quarter last year, the company informed the Bombay Stock Exchange. Shares of the bank were trading at Rs 396, down 2.88 per cent on the BSE.

Railway ticket at Indian Bank ATM

2008-01-27T22:06:00.000-08:00

Indian Bank (IB) has partnered with NCR Corporation, a company in self-service technology, to launch e-ticket kiosk and Portable ATM Centre at the Egmore Railway Station in Chennai in dec.2007. This installation commemorates Indian Bank's 500th automated teller machine (ATM) deployment in India.

Federal Bank Launches Mobile Alert Service

2008-01-25T00:04:00.000-08:00

Mumbai: Federal Bank, in its drive to have more innovate technology-enabled products, has launched a comprehensive mobile alert service. Customers would now receive SMS alerts on transactions in their bank accounts on a realtime basis.

Banknet Customer Survey

2008-01-22T23:41:00.000-08:00

Recently, Banknet had conducted a customer survey on Payment Products (i.e. Internet / Mobile Payments, Credit/Debit Cards, ECS and the likes).Banknet surveyshowed that most people who have an ATM-cum-Debit card still use cash for making payments. Survey tried finding the reasons.Survey found that when paying for Railway Bookings or at petrol pumps, banks charge 2.5% of the transaction value to the customer.

In case of smaller merchant establishments, the merchants do not seem to afford paying transaction fees of 2% to card issuers/banks. So they pass on this cost to the customer so that their small margins are not affected.The end customer thus prefers withdrawing cash from ATMs rather than paying 2 to 2.5% extra by swiping their cards, especially for higher value payments.Hope these findings give banks/RBI some insights

Online Banknet

2008-01-20T22:33:00.000-08:00

Banknet India is glad to offer the facility of all the online payment options for buyers both from India & abroad in addition to payments through drafts & cash. Online transactions are secured & have VeriSign 128 bit Securit You can make online payments in real time through credit cards & your netbanking accounts. Cards accepted are MasterCard, Visa, American Express, Diners Club International, Citibank e-Cards, JCB Cards. Payments can also be made through netbanking accounts of Citibank, Centurion Bank, HDFC Bank, ICICI Bank, IDBI Bank, UTI Bank, Global Trust Bank, Federal Bank & Bank of Punjab.You need to go to the page featuring the publication, which you want to buy. Than click "Add to cart/Buy Now" link provided in the top portion of the page under "PAY ONLINE". You will be taken automatically through all the required steps.You can click " View shopping cart" button to find the status & add more books.2. PAYMENT BY DRAFT/CHEQUE:1. The payment should be made by Demand Draft drawn in favour of BNET INDIA PVT LTD. 2. Draft must be payable in Mumbai and marked ‘Account Payee only’.3 . The payment by Draft should reach us within 12 days of placing the order. 4. Books will be dispatched on realisation of payment. 5. On back of the cheque/draft mention your name, order number, book name & quantity.

Mailing Address for sending payment:Banknet India, Publication Division,57, 2nd Floor, Juhu Supreme Centre, Gulmohar Cross Road No 9, Juhu Scheme, Mumbai (India)- 400 049.You need to go to the page featuring the publication, which you want to buy. Than go to "click to order" link provided in the top portion of the page under "PAY BY DRAFT/CHEQUE". On clicking you will come across the booking form. Submit the form & you will be mailed necessary instructions & booking number.

Indian Bank increase in net profit

2008-01-17T21:15:00.000-08:00

Chennai: A 61.45 percent increase in net profit was reported by the Indian Bank for the third quarter ending December 31,2007. The profit stood at Rs 307.50 crore as compared to Rs. 190.50 crore during the same period last year. The bank also witnessed a growth in overall business by 23.96%. This figure increased to Rs. 90,015 crore from Rs. 72,617 crore. The deposits of the bank also rose by 18.07 percent to Rs. 53,317 crore from Rs. 45,157 crore. M S Sundar Rajan, CMD of Indian Bank said, "the bank expects to increase deposits by 20 per cent and 25 per cent on advances by the end of this fiscal."

Banks are trying to e-Banking

2008-01-16T01:49:00.000-08:00

New payments mechanisms designed to aid electronic commerce are gaining popularity. For every type of monetary transaction, there is a process that runs in the background. These processes differ for various instruments cheques, cash, cards, e-payments, electronic clearing etc. But the backbone of these transactions is the payment systems.

Recent Reserve Bank of India (RBI) survey found that the level of awareness and familiarity with payment services offered by banks are at varying level. Large corporate bodies have taken number of initiatives for the adoption of new payment modes. The implementation of ERP (Enterprise Resource Planning) software in many companies has enabled smooth migration to include various payment systems in these companies. They have been able to identify cost advantages in the new payment instruments. Though credit and debit cards have been in use in the country for many years now, the card-based usage has picked up only during the last five years. Internet-based services and e-commerce have boosted them further.

Card-based payments are now becoming a much preferred mode for making retail payments in the country. Payments by Electronic clearing service (ECS) mode have jumped over the years. According to latest Reserve Bank of India data, almost 75% of total transactions (in value terms) in 2006-07 were in electronic format as compared to about 30% three years ago. RBI is continuing the efforts to complete the agenda of establishing a safe, secure, sound and efficient payment system for India, matching international standards and best practices. Moving towards Paperless e-Transactions is the theme of the forthcoming Banknet Fourth Annual Conference on Payme Systems in Mumbai, India on 16 January 2008. More than 20 prominent speakers will discuss Next steps in modernizing Payment Systems, Impact of new regulations on the Payments Industry, Security concerns and Customer Service related issues, Cash & Treasury Management etc. Banknet will also release results of “Bank Customer Survey on Payment Systems” at the conference.

Indian Bank recover bad lod Loans

2008-01-13T22:22:00.000-08:00

New Delhi, Dece : Public sector lender Indian Bank on Monday said it expects to recover 670 crore bad loans during the ongoing fiscal. “So far, we have recovered 440 crore and expect to recover another 230 crore in the next three months,” Indian Bank's CMD M S Sundarrajan said. Of the total recovery, around 300 crore would be added to the bank's reserves and surpluses, giving more headroom for raising capital through bonds, he said. Asked about the loan target for the ongoing fiscal, he said the bank expects credit growth of 25 per cent during the year, with the deposit growth target pegged at 20 per cent.

Banknet's Fourt International Conference

2008-01-12T05:55:00.000-08:00

Banknet’s Fourth International Conference on Payment Systems will be organized on 16th January, 2008 at Mumbai, India. Conference will have nearly 300 participants from RBI, Major Banks, FIs, Insurance companies, IT Cos, Business Schools and Corporates. CONFERENCE THEME: "TOWARDS PAPERLESSE-TRANSACTIONS"Conference will commence with a “SPECIAL REGULATORY ROUND TABLE SESSION”

This will be followed by four sessions. Conference will be addressed by prominent speakers from Ministry of Finance, Reserve Bank of India, Nasscom, IIM Ahmedabad, State Bank of India, Bank of India, ICICI Bank, IDBI Bank, Centurion Bank of Punjab, Kotak Mahindra Bank, Yes Bank, ABN Amro, HSBC, Western Union and IT companies. Speaker Presentations will be followed by a Panel Discussion & Interactive Q & A. CONFERENCE SESSIONS:Special Session-Regulatory Round TableSession II- Electronic Payment Systems & ProductsSession III- Integrating Alternate Payment ChannelSession IV-Money Transfer Services & Cash Management

Mr.Bhansali become Kotak Investment

2008-01-10T21:48:00.000-08:00

Mr Uday Bhansali has been appointed as Executive Director of investment banking by Kotak Mahindra Capital Ltd. as investment head. Mr Bhansali will look after firmwide Client Relationships and will also supervise a team of bankers who will be responsible for origination and client relationships. He will also drive several international alliances of Kotak Investment Banking

SBI cardiff to capital in Insurance sector

2008-01-10T04:42:00.000-08:00

SBI, Cardiff to add capital in insurance JV10 Jan, 2008, 1608 hrs IST, REUTERS
KOLKATA: State Bank of India and its French partner Cardiff will invest 2-2.25 billion rupees ($51-$57 million) in their life insurance venture in India by March to expand business, an official said on Thursday. The investment will be in the proportion of their current holdings, U S Roy, managing director of SBI Life Insurance Co Ltd told reporters. Government-run State Bank, India's largest lender, owns 74 per cent in the venture, with Cardiff, a unit of BNP Paribas, holding the remaining 26 percent. Premium income will more than double to 70 billion rupees in the current fiscal year to March, from 30 billion rupees a year earlier, Roy said.

PNB is Planning to open office in C'

2008-01-06T23:04:00.001-08:00

PNB is planning to open offices in Canada and Singapore
Punjab National Bank is planning to open offices in Canada and Singapore to expand its presence overseas. "Our immediate plan includes creating a strong international footing for the bank. We are looking at Canada and Singapore," PNB Chairman and Managing Director K C Chakrabarty said.(DDN)

PNB is Planning to open office in C'

2008-01-06T23:04:00.000-08:00

State Bank Of India revised interest ratest

2008-01-04T04:53:00.000-08:00

Country's largest lender State Bank of India has revised interest rates from Friday on domestic term deposits and reset the maturity period. Deposit of 46 to 270 days earning an interest of 5.25 per cent has now been reset into deposit of 46 to 90 days earning interest of 5.25 per cent.(AIR)

Happy New Year 2008

2008-01-01T02:52:00.000-08:00

Indian Bank recover bad Loans

Public sector lender Indian Bank on Monday said it expects to recover 670 crore bad loans during the ongoing fiscal. “So far, we have recovered 440 crore and expect to recover another 230 crore in the next three months,” Indian Bank's CMD M S Sundarrajan said. Of the total recovery, around 300 crore would be added to the bank's reserves and surpluses, giving more headroom for raising capital through bonds, he said. Asked about the loan target for the ongoing fiscal, he said the bank expects credit growth of 25 per cent during the year, with the deposit growth target pegged at 20 per cent.

Film star goes to Australia

2007-12-28T21:53:00.000-08:00

Filmi dunia has roped in cricketers from Australia, England and New Zealand to shoot a film at the Boxing Day Test in Melbourne and then the New Year Test in Sydney.Brett Lee is among the four Australians making their Bollywood debuts.An entourage from India’s thriving movie industry is due to arrive in Melbourne to film crowd scenes for a new Bollywood film called “Victory”, in which Brett Lee will appear as himself in what his manager, Neil Maxwell, Sunday described as “a glorified cameo”.

It will take two days to film when the leader of the Australian pace attack has a break between matches.Cricketers from England - including Simon Jones and fellow paceman Sajid Mahmood - and from New Zealand will join Australians Lee, Mike Hussey, Stuart Clark and Shaun Tait for filming at the SCG and North Sydney Oval after the Test.“I’m really excited to get my movie career under way,” said Clark, tongue firmly in cheek.
“To be fair, I’m not quite sure what I’ll be doing,” the fast bowler added. “It’s really about Brett. I’m just one of the extras.”Maxwell said the story is about a young boy from a small town who overcomes adversity to reach the top of his sport.

The lead actor is Bollywood newcomer Harman Baweja, who is expected to be in Melbourne to film a scene where he walks onto the pitch during the Boxing Day Test, provided he and the other actors can secure visas in time.
This, obviously, requires co-operation from Cricket Australia. “They have been very supportive. They understand that India is a huge market and it’s a good thing for cricket,” Maxwell said.
The New Zealanders to feature in the Sydney scenes are the recently retired Craig McMillan, Nathan Astle and Darryl Tuffey.

Banks ATM CHARGES

2007-12-26T05:40:00.000-08:00

Banks have been deploying Automated Teller Machines (ATMs) to increase their reach. At present, banks in India have deployed more than 31,000 ATMs. Banks have also entered into bilateral or multilateral arrangements with other banks to have inter-bank ATM networks and to increase the usage of ATMs as a delivery channel. ATMs have gained prominence as a delivery channel for banking transactions in India, especially for cash withdrawal and balance enquiry. The charges range from 'Nil' to Rs.57/- per transaction when their customers use the ATMs of other banks for cash withdrawals and balance enquiry.

The charges depend on the network relationship between the bank owning the ATM and the customer’s own bank. International experience indicates that in countries such as UK, Germany and France, bank customers have access to all ATMs in the country, free of charge except when cash is withdrawn from white label ATMs or from ATMs managed by non-bank entities. As the charges levied on the customers vary from bank to bank and customer is not aware, before hand, of the charges that will be levied for a particular ATM transaction. This generally discourages the customer from using the ATMs of other banks.