Category: Savings Account

Qatar-based Doha Bank is planning to open a branch in Kochi with cutting-edge facilities. This will be the only Indian branch of the Gulf Cooperation Council (GCC)-based bank.   The bank will be located inside LULU International Shopping Mall, Edappally. It will be inaugurated by Pinarayi Vijayan, chief minister of Kerala, on 27 August 2016. […]

Although India is largely an under-banked country, many in urban and semi-urban India have more than one savings account.   While a sizeable portion of these accounts are inherited from previous employments, people also open additional savings account in search of better features or customer service.     Just like any other banking and financial product, […]

State Bank of India has been advised by the global management consultancy McKinsey to shut down or relocate 30% of its branches. SBI plans to follow this advice and consolidate 24,000 of its branches so as to remain competitive. The Managing Director of SBI confirmed that the bank had hired McKinsey for branch and ATM […]

There’s a proverb which says, "The art is not in making money, but in keeping it”. Nowadays, looking for a place where you can grow your money without any risk might be difficult but finding the best savings accounts for your money is not.These accounts are among the most preferred way to keep your extra money. […]

Bandhan Bank has reduced its interest rates on micro loans from 20.5% to 19.9%, effectively, a 0.6% reduction. This was the third consecutive reduction since the micro financial institution started its operation as a Universal Bank in August 2015. The first reduction came up immediately after the transformation, when the micro lending interest rate was […]

ESAF Microfinance, a Kerala-based micro finance institution, has applied for the final licence to start up a small finance bank. ESAF Microfinance had received in-principle approval for setting up small finance banking operations last year. AG Varughese, the executive vice-president of ESAF Microfinance, said that they have already submitted an application to the Reserve Bank […]

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 […]

The readers of Institutional Investor Magazine have voted Aditya Puri, the Managing Director and Chief Executive Officer (CEO) of HDFC, as the best banking CEO in Asia. The magazine’s readership is comprised of investment professionals that encompass 1541 companies based in Asia excluding Japan. These votes were cast as part of the magazine’s All-Asia Executive […]

Changing jobs, moving to a new city or country, changing business requirements or simply altering banking preferences because of new offers – there are a multitude of reasons why customers fail to maintain regular transactions on a certain account. However accounts once abandoned do not fall off the face of the banking map. In fact, […]

Pradhan Mantri Jan Dhan Yojana or PMJDY was launched on 28th August 2014, by the honourable Prime Minister, Narendra Modi. The scheme is a move in the direction of financial inclusiveness. It aims at providing financial services such as access to credit, savings bank account and easy transactions to lower economic groups.   This scheme […]