Category: Savings Account

Public sector lender Punjab National Bank (PNB) has decided to increase the fine on current account holders who fail to maintain their quarterly average balance (QAB) from 1st October 2016. According to the revised tariff, the non-maintenance QAB charges will be applied on PNB Smart Banking current accounts and current general accounts. Platinum account holders […]

Of the 10 provisionally licensed banks, three are all set to begin operations in a few months. The Reserve Bank of India has issued final license to Capital Local Area Bank, Suryodaya and the newly listed Equitas. According to the RBI, the licensees have put in place the necessary systems and have met the regulatory […]

For most individuals, savings accounts mark the first association with any bank.  Till a few years back, you could open a savings account at a bank only if your application was endorsed by a current customer. Today’s banks are more open to welcome customers and assist them in opening a savings account with minimal documentation. […]

Savings account can be defined as an interest bearing deposit account held by individuals for personal usage which is maintained by a bank that has retail operations. Using a savings account individuals can set aside a portion of their monthly funds and can earn interest on their deposits. Savings account features various limits and charges on […]

Bandhan Bank has decided to expand its services from the current 701 branches to 1,000 branches by August 2017. Bandhan Bank’s MD and CEO, C.S. Ghosh announced on the second anniversary of the bank that they will surely have at least 1,000 branches and additional products.   Currently, 45% of the branches are in West […]

Induslnd Bank, private sector lender has teamed up with IBM, leading IT services provider to use latter’s cloud commerce solutions. The aim of is to overhaul the bank’s customers engagement process to enhance its product cross-selling across various platforms.   IBM has signed a three-year planned agreement through which it will be responsible for cloud […]

Leading public sector lender, Punjab National Bank has taken a customer-friendly initiative of making locker visiting facility free for its customers. Thus, becoming the first public sector bank to introduce such a facility. Earlier only 12 free visits in a year were allowed and the customer had to pay a charge of Rs.50 if they […]

National Payments Corporation of India (NPCI), parent company of all retail payments system in India, has collaborated with Union Bank to introduce a USSD based 99# mobile application. Bank customers with an android smartphones can easily download this app from Google Play Store. This app can be accessed without internet and doesn’t require any data […]

The recent increase in unauthorized transactions in banking has led the Reserve Bank of India to release draft guidelines for customer liability in case of fraudulent transactions. According to the draft norms, the bank customer shall not be liable to pay for any fraud transactions made through his account due to third party breach or […]