Category: Savings Account

Holding multiple bank accounts and keeping tabs on all of them is no easy task.  Not only can it create confusion and lead to mismanagement, but accounts that do not feature regular banking activity are automatically deactivated by banks. Incorrect management such as non-maintenance of minimum average/ quarterly balance in your banking accounts can also […]

Bandhan Bank plans to add 180 new branches to its current network of 650 branches by March 2017. The bank hopes that these 850 branches will help it gain a pan-India presence in the next year.   At Bengal Chambers of Commerce & Industry’s  Business-IT conclave, Chandra Shekhar Ghosh, the Managing Director and CEO of […]

In an endeavour to create global-sized institutions, the Government of India is encouraging the consolidation of public sector banks. This is for the purpose of reducing their number, as also making way for bigger banking institutions. To achieve this, the Government is looking to act as a mediator to merge state-run Bank of India, UCO […]

The private sector banking institution, DCB (Development Credit Bank) limited, has launched the first Aadhaar-based ATM in Bengaluru. This Tier-I city followed leading urban areas like Mumbai in providing this advanced facility that allows PIN-less and card-less transactions. This unique DCB ATM accepts Aadhaar number and Aadhaar-registered fingerprint instead of a card number and PIN […]

This month the government of India officially announced its vision of establishing 650 operational branches of India Post Payments Bank (IPPB) by September next year. These branches would be set up across all the major districts of the nation. Currently, India Post operates an estimated 25,000 post offices across the country and the launch of […]

The Reserve Bank of India (RBI) has asked banks to put in place a cyber-security policy without delay. The policy will outline the approach to fight cyber threats, given the level of complications of business and acceptable levels of risk. According to the RBI, the cyber security policy should be different from the broader IT […]

A savings account comes in handy for keeping savings intact, money that can be used for footing everyday needs and act as an emergency fund. However, banks have placed limitations on the number and volume of transactions made on the account by charging a fee. As these charges vary across banks and types of accounts, […]

HDFC Bank plans to open about 500 new branches in this financial year, about 60% of which will come up in semi-urban and rural areas. The bank opened 506 branches in the last financial year, increasing the number of its branches to 4,520 at the end of March 2016. Of the 506 branches opened, 256 branches […]

Andhra Bank has received RBI’s approval to launch Bharat Bill Payment Service. The service, which is expected to be operational by September, will allow the bank’s customers to make all utility bill payments. Andhra Bank has launched a series of IT initiatives to provide convenient banking experience to its customers. It plans to launch User […]

Subsequent to the government’s suggestion for the State Bank of India to initiate a merger with its associate banks, the government has now made a similar suggestion to UCO Bank, Indian Overseas Bank and Bank of India. The main reason for this suggestion is the poor performance of these banks. The three banks – UCO […]