Applications supported by blocked accounts ASBA

Applications supported by blocked accounts ASBA for subscribing to IPOs have been started by few more banks like PNB, YES Bank, CITI Bank, Bank of India, HSBC, State Bank of Hyderabad.
( source BL 060109)

Banks are taking up the scheme for taking over loans

Banks are taking up the scheme for taking over loans of farmers from money lenders. Banks are extending this scheme mostly to existing crop borrowers with interest rate linked to the PLR. Syndicate Bank allows loans upto Rs 2 lacs under small credit scheme by using Pygmy agents who are also used for promoting Pygmy deposit scheme. Under its two debt swap scheme SYND JAI KISAN and SYND SMALL CREDIT the bank has given out loans worth Rs 214 crores and Rs 70 crores respectively. UCO Bank has started from July 2008 debt swap scheme under which loans for Rs 25,000 are given and they have already disbursed Rs 7.50 cr. (BS 120109)

According to estimates 25-30 percent

According to estimates 25-30 percent of the 27 million credit card users in India make cash payments to settle payments. ICICI and HDFC Bank are levying fee on such payments. ICICI charges Rs 100 for every transaction while HDFC charges Rs 50. ( source BS130109)

Business hours at ICICI BANK branches

Business hours at ICICI BANK branches on Saturdays cut down to 5 hours from 9am to 2pm w.e.f 07-02-2009. Currently business hours on Saturdays are similar to other week days. (source BS 130109)

Banks are using mobile ATMs in places like Dilli Haat.

Banks are using mobile ATMs in places like Dilli Haat. Baroda Fair, and Pushkar cattle fair for the convenience of the customers. Diebold which manufactures and manages ATMs for banks has deployed 11 mobile ATMs in India by State Bank of Patiala, OBC, PNB, Bank of India, J&K Bank. A mobile ATM costs Rs 30 lacs while a stationary ATM costs Rs 5 lacs. ( source BL 050109)

Federal Bank launched its online trading

Federal Bank launched its online trading product-Fed-e-trade- in association with Geojit Financial Services. Retail clients will now have access to online trading in equities, derivatives, IPOs and mutual funds through Geojit’s online tracking platform. 3-in-1 integrated account will comprise of savings account, demat account with bank and online trading account with Geojit. ( source BL 070109)

South Indian Bank has launched a product

South Indian Bank has launched a product ‘SIB-Eighty Plus’ offering 11 per cent rate of interest to the general public and 11.25 percent to senior citizens. Because of bank’s 80 years of existence the scheme is launched which would be open only upto 31-3-2009. The minimum deposit is Rs 50,000 with no upper ceiling. (source BL 130109)