Saturday, November 18, 2017

No, you cannot buy BrandFactory Free Shopping Pass through UPI

          Brand Factory, part of Mr.Kishore Biyani’s Future Group is set to woo Indian consumers across 22 cities with its Free Shopping Weekend.

     Brand Factory is in the last lap to welcome consumers in its 50+ stores spread over 22 cities to experience the Joy of Free Shopping.

Merchandise available at Brand Factory stores include men’s formals, casuals, youth wear, women’s wear, sportswear, kids wear, footwear, accessories and more.

          The offers will be available on 200+ brands at unbelievable discounts, spanning brands such as Jack & Jones, Van Heusen, Park Avenue, ONLY, UCB, Vero Moda, Louis Philippe, US Polo and more.

          The sale is happening in Mumbai, Pune, Kolkata, Chennai, Guwahati, Bhubaneshwar, Nashik, Asansol, Ahmedabad, Ujjain, Raipur, Ghaziabad, Delhi, Kanpur, Vijaywada, Hubli, Mangalore, Mysore, Thiruvananthapuram & Calicut.

          And here is the interesting part.

          Consumers will have to buy a entry pass to enter the Brand Factory between 22nd November and 26th November 2017.

There are two pass options – Premium and Classic

Option No 01) Limited quantity Premium passes (INR 249) that admit two, and allow early entry to the store (8 AM - 11 AM) so that you can be the first to get your hands on all the best merchandise!

Opition No 02) Unlimited  Classic Passes (INR 100) that guarantee entry to the store after 11 AM.
Nothing to worry though,  the cost for both types of passes will be refunded to the respective consumers, in the form of Gift Vouchers.

Read here for the exciting concept

Brand Factory to charge entry fee on 'free-shopping' days

Want  to shop at Brand Factory's 'free shopping' days? Pay cover charge of Rs 100-250

Brand Factory does a first, to charge entry fee on 'free-shopping' days

          NO, NO, Unified Payment Interface (UPI) is not a Payment Option to buy this Brand Factory Pass!!

Monday, November 6, 2017

Indian Institute of Banking & Finance - MICRO Research papers for the year 2017-18

          This is your chance to highlight your thoughts to the Indian Banking industry.
Indian Institute of Banking & Finance (formerly The Indian Institute of Bankers) was established in 1928, has invited original ideas under its ‘Micro Research papers,

This is in advancements of one of the key objectives of IIBF i.e ‘To promote research relating to operation, products, instruments, processes, etc. in banking and finance and encourage innovation and creativity among finance professionals’.

‘Micro Research’ is a sort of an essay competition for members of the Institute (bankers) to present their original ideas, thoughts and best practices on areas of their interest.

IIBF started this initiative in 2004-05 and since then, the Institute invites Micro Research papers every year. The topics are identified by the Research Advisory Committee of the Institute.

The competition is open to life members of IIBF, who are presently working in banks and financial institutions.

Members of the Institute are free to submit papers on original ideas on any topic including the following topics for Micro Research, 2017.

          The below topics are only an indicative to tickle the thoughts our IIBF Members.
          Members can also submit original ideas relating to Banking

1. Training needs of future bankers (Pointers__ : What can be done to reduce the load on the customer front desk?)

2. Role of Participation Lending Certificates in meeting Priority Sector requirements (Pointers__ : Does PLCs ensure  that the Priority Sector beneficiaries receive the best possible credit facities?)

3. Promise of the Insolvency and Bankruptcy Code (Pointers__ : Based on the last few months experiences, inputs to enhance the success rates of referrals under Insolvency and Bankruptcy Code)

4. Emergence of Payment Banks (Pointers__ : What differentiators will propel Payments Banks to taste success?)

5. Small Finance Banks: Complimentary or Supplementary (Pointers__ : Should MUDRA Loans  be the sole preserve of  Small Finance Banks?)

6. Challenges and opportunities in Peer to Peer Lending (Pointers__ : Tax implications for gains as well as losses)

7. New perspectives from Analytics for credit appraisal (Pointers__ : What if the merchants migrate bulk of their transactions though the eWallet mode?)

8. Cyber Frauds and remedial measures (Pointers__ : How to safe guard by Bank account ???)

The essays/papers will be judged on their content/relevance and originality.

The authors of the accepted  papers will be rewarded with a citation and cash prize ranging from Rs. 3,000/- to Rs. 10,000/- depending on the merit of the paper.

All the interested members of the Institute may submit micro research papers in English with the word limit of 5000 words or 10 – 12 pages (A4/ Times New Roman / Font size

The last date for submission of the paper is 31st January, 2018.

Please note to include the following while submitting your Paper i.e; Membership number, bank address, mobile no. /landline no. and email ID of the member submitting the paper.

Applications without membership numbers will not be considered.

A soft copy of the micro research paper, in word and PDF format may be sent by e-mail to

 Candidates may please note that copying materials as it is from various sources should completely be avoided. Wherever information used in the essay is taken from other sources the author should acknowledge and provide complete reference of the source. It should be ensured that there is no violation of copyrights, if any.

Saturday, October 28, 2017

Can Robotic Process Automation (RBA) in Banks assist in the following situations?

Training Program on of Robotic Process Automation for Bankers

          In layman terms, Robotic Process Automation (RBA), simply put, is automation software that can mimic human action based on defined rules.

          An exclusive three day training program on Robotic Process Automation for Bankers has been announced by Institute for Development and Research in Banking Technology at its Hyderabad campus.

          The program is driven by Dr. Rajarshi Pal with faculty drawn from IDRBT, and enhanced by Guest Speakers from the Industry & Practitioners.

          The core objectives of the 3 day session is to enable Bankers to enable the participants to understand the process, technology, implementation issues and other critical factors to derive maximum benefits on adoption of RPA.  

          In the 3 days, participants will have a glimpse of the following topics:

01) Use Cases of Robotic Process Automation in Banks

02)        Technologies behind this robotic process automation, which include
·       Artificial intelligence
·       Machine learning
·       Image analysis/computer vision
·       Text processing
·       Speech processing
·       Natural language processing

03)        Critical factors for successful implementation of these technologies.

Banks tend to work on lots of physical documents. The ‘Text  Processing’, topic should enable the participants to explore RBA tools to minimise the errors while converting ‘Text’ to executable instructions.

 The key for a successful RBA tool is the definition of the rules. In case, the rules are not properly defined, the results will be skewed.

Through this program, the participants may gain knowledge on the processes of defining rules for the desired output.

Read this article on ICICI Bank’s experience with Robotic Process Automation.

Read this article by Shamsher Sindhu,Executive Vice President, Kotak Mahindra Bank on benefits of RBA in Corporate Real Estate.  Can Banks deploy RBA to optimise their physical assets??

Read this State Bank of India’s FAQs on its ‘No Queue Mobile App’.

Can Robotic Process Automation (RBA) in Financial Institutions assist in the following situations?

Situation No 01) __ Retrieve a paid cheque image  

Situation No 02) __ Mark a ‘Stop Payment of a Cheque’, and debit the relevant service charges immediately in the customer’s account

Situation No 03) __ Retrieve the breakup of Service Charges debited to the customer’s account

Situation No 04) __ Assist the customer to view the best offers available on the Banks debit card, credit card through voice command

Situation No 05) __ Display the next few Standing Instructions tagged to the account and predict the chances of success. Standing Instructions can be ACH Debits, internal Standing Instructions etc

Situation No 06) __ Assist customers to arrive at the best time to operate bank locker

Situation No 07) __ Alert front-office staff on the presence of HNI customer in the branch lobby

Friday, October 20, 2017

Shri Piyush Goyal, please activate New Lucky Draw Scheme on IRCTC Connect too

          To boost UPI Payments especially through BHIM, Indian Railways online booking platform i.e IRCTC has unveiled a ‘New Lucky Draw Scheme’.

          This is a monthly lucky draw scheme and is expected to run for the next six months.

          The highlights of the scheme are us under:-

01) Train Tickets have to be booked via only and the payment mode has to be BHIM/UPI.

02)                  Train Tickets booked via, but if the payment mode is other than BHIM/UPI, the users will not be eligible for the New Lucky Draw Scheme.

03)                  Train Tickets booked via other platforms will not be eligible for the New Lucky Draw Scheme.


·       “Book tickets on through BHIM/UPI and get a chance to travel for free”
·       Monthly lucky draw scheme

·       IRCTC introduces a lucky draw scheme for the individual users who book tickets using BHIM or UPI payment options on Users/Customer will be eligible for the ‘Lucky draw scheme’ whose journey commences in the calendar month of that lucky draw scheme.

·       In the first week of the following month, five (5) lucky users will be selected through a computerized random lucky draw process and will be refunded back full train fare. Scheme starts w.e.f 01.10.2017 and will continue for 6 months.

The complete Terms and Conditions are us under:-

 A Customer will be called as ‘Eligible customer’ who successfully books e-ticket at IRCTC Rail e-ticketing website (, by using BHIM or UPI Payment options only.

 Eligible Customers also have to travel or commence their Journey after booking of the eticket using BHIM or UPI Payment options in the calendar month of that lucky draw scheme.

 Cancelled and TDR filed PNRs will not be eligible for the Lucky Draw scheme.

 In case more than one PNR of same user gets selected then only one PNR of the user will be considered for the Lucky Draw in the calendar month of that lucky draw scheme i.e.,
One user will get only One Prize. However the same user will be eligible for Lucky Draw in any other following month.

 Successful winners will be refunded back full ticket fare which will be transferred in the same/respective Payment Mode’s account used while booking the e-ticket.

 Every month 5 computerized randomly picked lucky PNRs among eligible Customers will be selected for the Lucky Draw Prize.

 The Names of Lucky Draw winners will be displayed on IRCTC website in the second week of the following month after verification of user details like mobile no, email, user id etc. of winners.

 Winners will also be informed by IRCTC on their registered email ID & mobile number.

 The lucky draw scheme is for six (6) months only w.e.f. 01.10.2017.

  Employees of IRCTC & CRIS will not be eligible for “New Lucky Draw Scheme”.

Tuesday, September 26, 2017

Don’t Tell me that you were not warned - Old Cheque books of the below mentioned banks will not be valid after 30th Sept 2017

State Bank of India vide a Notification has notified the following:-
All customers of erstwhile Associate Banks and Bharatiya Mahila Bank are requested to apply for SBI Cheque books via Internet Banking, Mobile Banking, ATM or by visiting the Home Branch.

Old Cheque books and IFS codes of the above mentioned banks will not be valid after 30th Sept 2017

The State Bank of India on Thursday notified its customers that cheque books and India Financial System (IFS) code of six of its subsidiary banks would be invalid from September 30 and asked them to submit new applications.

These banks are — Bank of Patiala, State Bank of Bikaner and Jaipur, State Bank of Raipur, State Bank of Travancore, State Bank of Hyderabad and Bhartiya Mahila Bank.

Earlier in April, these banks had merged with SBI, which put SBI among the top 50 banks in the world

This notification has also been covered in major papers across the country

Economic Times  @ Cheque books of six SBI subsidiaries to be invalid from Sept 30

Business Today @ SBI to make cheque books, IFSC code of its six subsidiary banks invalid from September 30

Financial Express @ Cheque books, IFSC of 6 subsidiary banks of SBI to be invalid; what you should do now

Deccan Chronicle @ Cheque books of 6 SBI subsidiary banks to be invalid from Oct 30
The You Tube video can be viewed here @

Now, Go, Set and Go for your new SBI Cheque Books