Tuesday, July 22, 2014

Indian Bank Credit Card Customers – EMV/Chip Cards

            Indian Bank has initiated the process to migrate its Credit Cards from Magnetic Strip to EMV/Chip based cards.
            In the first stage, the migration is planned for Gold Card customers.  Migration for other card holders will happen in due course.
            At the same time, Indian Bank has introduced limits for credit card transactions for Gold / Classic / Business Card Customers
            The following limits will apply to Gold Card holders till they receive the EMV/Chip Based cards:
  • Indian Currency Transactions (POS, E-com & ATM withdrawals): Rs 25,000/- daily limit.
  • Foreign Currency Transactions (POS, E-com & ATM withdrawals) is temporarily

The following limits will apply to Business Card holders with their existing magstripe cards :
  • Indian Currency Transactions (POS, E-com & ATM withdrawals): Rs 25,000/- daily limit.
  • Foreign Currency Transactions (POS, E-com & ATM withdrawals) is temporarily withdrawn.
The following limits will apply to Classic Card holders:
  • Indian Currency Transactions (POS, E-com & ATM withdrawals): Rs 15,000/- daily limit.
  • Foreign Currency Transactions  (POS, E-com & ATM withdrawals) is temporarily withdrawn.

To minimize customer discomfort,  if any customer wants to enhance Indian Currency Transaction limit or to enable Foreign Currency limit, they may send SMS (their requests along with their credit card number and the amount in Indian currency) to 94443 96058 or 94443 96056 from their registered mobile number for enabling the same from 10.00 am to 5.00 pm on working days.
      Indian Bank has three RRB’s under its fold, namely

In the last financial year, Indian Bank has introduced a number of facilities to its individual customers. The most important facilities are as under:

v  “Card Block Facility” through SMS under which the credit card customers can block their credit cards by sending an SMS (by typing „BLOCKCC) to 56767 from their registered mobile number
v  In Tamil Nadu, under Social Security Scheme Old Age pension is being paid to about 2.11 lakh beneficiaries, in the villages covered under Financial Inclusion, through Bank accounts using Information and Communication Technology (ICT) based Smart Card enabled Business

v  Bank has implemented the ICT based BC model in Koyambedu Market, Chennai, wherein a BC has been engaged in the market. 775 vegetable/fruit vendors have been enrolled and issued with smart cards and 1668 transactions amounting Rs.9.02 lakh have been done by the BC.

Sunday, July 20, 2014

Bank of Baroda – 107th Foundation Day Initiatives

            Bank of Baroda is celebrating its 107th Foundation Day on 20/07/2014

            This year’s theme is ‘Racing together, Racing ahead’.

            The following are the 107th Foundation Day Initiatives

  • 107 new branches
  • 107 new ATMSs’
  • Pilot launch of Adarsh Grameen Branch
  • Launch of Door Step Banking Services at select centres
  • 24 * 7 self-learning portal for staff
  • Customer Education programmes for Alternate Delivery Channels
  • Launch of Cash Recyclers. The RFP for cash recyclers was flown in January 14, and the launch date is 20/07/2014

Saturday, July 19, 2014

Canara Bank upgrading its Internet Banking Suite

            Canara Bank customers accessing the Canara Bank internet banking site after on or after 20/07/2014 would be pleasantly surprised. They would see a new revamped interactive site.

            In view of the migration, Canara Bank’s Net Banking will not be available from 19th July, 2014 10.00 PM to 20th July, 2014 10.00 AM.

One of the unique features of Canara Banking net banking is the CanSecure Application which enhances the safety on online banking transactions. CanSecure be installed on multiple computers, as per the customer’s requirement.

            The Net Banking has different options for Retial and Corporate customers. Now retail customers can register for Net Banking Online, which is one more innovative feature from Canara Bank.


Tuesday, March 26, 2013

Use icici bank atms to educate 250 children

                ICICI Bank is requesting its bank customers to exclusively use their own Bank ATMs to withdraw cash via emailers.  Every time a bank customer withdraw cash at the banks ATMs in Bengaluru, ICICI Bank, contributes their own funds, towards the education of street children.

So, the more you use ICICI Banks ATMs, the sooner can these children go to school.

Please spread the message among your family and friends and help make a difference.

As the base city of the customer is mentioned in the advertisement, ICICI Bank seems to rely on targeted advertisements, to encourage their bank customers.

It is a well known fact, that the servicing cost at ATM is 1/4th of the branch servicing cost. The only point is whether bank customers would like to withdraw money from an ATM, even if they really do not require at the moment.

However, this is good combination of business and CSR by financial institutions to promote their brand image and at the same time, roll out a CSR activity.

Looking forward to the closing mail of this CSR campaign.

For every withdrawal, ICICI Bank will donate 25 paise to educate street children. The collected amount will be then handed over to an NGO through GiveIndia to educate 250 street children. Non-ICICI Bank customers are also welcome.

Wednesday, March 20, 2013

SGB unveils RuPay Debit Card and RuPay Kisan Card

Saurashtra Gramin Bank is a Regional Rural Bank, established under RRB Act, 1976. The Bank in its current avatar is  an amalgamation of three banks namely JRGB, JAGB & SBGB, prompted by SBS (now SBI) since 1978.

Saurashtra Gramin Bank, this week  has introduced RuPay Debit Cards and RuPay Kisan Cards for its bank customers in collaboration with National Payments Corporation of India (NPCI).

It is aimed to facilitate more than 5.5 lakh customers of SGB to gain access to over 1,10,000 ATMs across the country and make financial and non-financial transactions including- cash withdrawal, balance inquiry, mini statements and PIN change facilities.

          Once POS Terminals start accepting RuPay cards, the accessibility will still increase. POS Terminals encourage Safe ePayments.

With this unique initiative, nearly 1.25 lakh farmers of SGB will attain the facility of payment instrument in the form of RuPay Kisan Card and achieve the overall goal of financial inclusion, as per the revised KCC guidelines of NABARD, RBI and Ministry of Finance, Govt of India.

The Bank has currently 200+ branches spread over  7 districts of Gujarat named as, Jamnagar, Surendranagar, Junagadh, Amreli, Porbandar, Bhavnagar and Rajkot.
          For more information on SGB, browse through their inhouse magazine.

          The Bank has is also planning for door-step banking to unbanked villages having a population of over 2000 in 139 villages which are in the 7 districts of its service area. 

Sunday, March 17, 2013

Indusind Bank goes live on new CBS in a single day cutover

Indusind  Bank goes live on Finacle 10.2 in a single day cutover

                        In the last 12 months, Indusind Bank had been attracting a lot of new customers in its fold. One of the main reasons for retail customers to be motivated to open accounts with Indusind Bank is the slew of new banking sub-products launched in the last 15-18 months.

            Of all the sub-products, two stand out. One is the ‘check-on-cheque’, and the @ ATMs’ cash denomination choice.

            To offer the best services to its growing clientele, Indusind Bank took the decision to migrate to Financle 10.2

The challenge was to migrate to the new CBS with minimum business disruption. This is where Avekshaa Technologies played a stellar role.

            Avekshaa Technologies closely worked with Indusind Banks’ IT Department and successfully, replaced the old CBS with the new Finacle 10.2 in all 461 branches and 852 ATMs with zero post go-live performance and scalability issues.

            It may be noted that Indusind Bank has been live on Finacle’s Consumer e-Banking solution since April 2011. In a way the switchover to Finacle 10.2, has been done in a very short span of time.

            Indusind Bank has taken care to map its old account nos (13 digits long and a combination of alpha and numbers) with its new account numbers (12 digits all numbers only). Hence, its customers need not go through the exercise of replacing their old account numbers with the new account numbers. 

Corporation Bank to adopt a new Core Banking Solution

          Corporation Bank in 2003 was one of the first Public Sector Banks to migrate to Core Banking Solution (CBS).  Over the years many new products have been introduced in the banking arena, especially in relation to ePayments.  

          Corporation Bank to a large extent still relies on a Cobol Based Application. Corporation Bank is the only bank which still has a Cobol based Application. Hence, the top management of Corporation Bank decided to migrate to a new CBS. Now, Corporation Bank will be the first public sector bank to switch over to a new CBS.

          There were 3 guiding points for choosing the new CBS.  

01)      Enhanced analytics for top management.

02)        Minimal TAT to roll out new banking products.

03)        Ease of usage of alternate channels.

The process was kicked off with RFP for appointment of Technology and Project Management Consultant in April 2012. In December 2012, the RFP for Core Banking Solution and Other Applications Implementation was issued.

     The target date for the pilot branch rollout is 12-15months from March 13. After the Pilot branch rollout, it will be rolled out in 10 branches. Once it is stabilized in the initial 11 branches, the rollout will continue in batches of 50 branches.  

          Corporation Bank with 1600 + branches, is considered to be a tech-savvy bank. Its major contribution to the Indian Banking industry is the rollout of CMS Products. Corporation Bank is the first public sector bank to adopt CMS Products to boost its CASA balances.