Posts

Showing posts from November, 2011

Oriental Insurance Company - joins the ePayments route.

Oriental insurance company, is tying up with various Banks to embrace the ePayments mode completely. This will add 6lacs+ transactions to the ePayments pool in our country, plus the additional ripples amongst it’s 15,000+employees and 50,000+associates. OIC with its  1000+ branches spread all over India, should be looking forward to tie-up with multiple banks to completely migrate to ePayments. First of the publicity block, is ING Vysya Bank, via a Press Release. The Press Release can be viewed @ http://www.ingvysyabank.com/pdf's/Oriental%20release%20draft.pdf This is ING Vysya Bank’s second tie-up in the last couple of weeks in the ePayments arena. A couple of weeks back, it announced a tie-up with Life Insurance Corporation of India. This continuous publicity should attract new customers towards ING Vysya Bank’s ePayments solutions. The genesis of ePayments in Indian insurance industry, can be traced to  a July 2009, IRDA circular. More can be read @

PNBRewardz - PNB Debit Cards Loyalty Program. Hm-not sure who the gainer is!!

To encourage it’s debit card holders to swipe their debit cards more at POS Terminals, PNB is running a Debit Cards Loyalty Program  i.e PNBRewardz. The routine operations for this Loyalty Program lie with Loylty Rewardz. Hence, ‘Rewards’, is spelt as ‘Rewardz’! The PNB Debit Card holder has to register him/her self for points accrual and redemption. The registration process involves visit to the Bank’s ATM and than Internet access. Every member of PNB Rewardz is eligible to accrue Points. PNB Rewardz members can earn & accumulate Points for all their Spends at Point of Sales (POS) and online purchases using Punjab National Bank Debit Card. With every Rs. 100 spent, you earn 1 point (Each point is valued at Rs. 0.25) The minimum redemption value is 500points. To earn 500 points, the customer has to swipe for  Rs50,000/- I am not sure, whether this makes sense or not. As no relevant statistics are published, the success of this program cannot be ascertained

World Series Hockey 2011 - Let it take place!!

The World Series Hockey 2011, is expected to start on 17/12/2011, and already Hockey players are being warned not to part of it. In case of participation, they risk of being not considered for National team opporutunities. More on the World Series Hockey 2011, can be read @ http://thefansofhockey.com/2011/11/15/world-series-hockey-organizing-team/#.Tsk2vfRFusp As a sports enthusiast, it makes sense for me for WSH 2011 to happen. Simple, this is ‘the opportunity’, Indian Hockey players to earn some decent money. It is irrelevant to ponder who are the sponsors, as the only aim in life is to earn money. Indian Hockey Federation and Hockey India, should keep aside their differences atleast for this WSH 2011 series and let the players and the viewers have a great time. Once WSH 2011 is over, they can go back to their warring ways. Indian VolleyBall League, Karnataka Badminition League, have helped players to earn decent money and at the same time, engaged people’s atte

Allahabad Bank - CashPOS - Debit Card Offer. Did you know?

Allahabad Bank - CashPOS - Debit Card Offer. Did you know? It was a pleasant surprise, to know Allahabad Bank is having Debit Card usage offers. The offers can be viewed at http://www.allahabadbank.com/offers-on-debit-card.asp One key differentiator Allahabad Bank has is the Meals at Barista Lavazza Offer 2 - 10% Discount Voucher For Next Purchase • 10% discount vouchers will be given to first 50 Allahabad Bank cardholders each month who use their debit card to avail the cashPOS facility at each of the promotion outlets • The discount vouchers can be used for the next purchase during the Promotion Period at any of the Promotion Outlets The Barista Lavazza CashPOS was started in June 2011, and this is India’s first cash withdrawal factiity at the Point of Sale in a retail store. The origins of Allhabad Bank go back to Nineteenth Century. Allahabad Bank is the  Oldest Joint Stock Bank of the Country. Allahabad Bank was founded on April 24, 1865 by a gro

Indusind Bank - Debit Card Cash Back. Did you try it out?

The Debit Card Cash Back offers are getting interesting day by day. Each Bank is trying to innovate. The basic principle is same a) minimum qualifying amount b) maximum cap per card The differentiators are in the marketing campaigns.   Indusind bank too has rolled out a Debit Card Cash Back offer from 01/10/2011 to 31/12/2011. Minimal details of the program can be viewed @ https://www.indusind.com/indusind/wcms/en/home/personal-banking/offers/cash-back-offers/index.html The key differentiator here is that the cash back amount is the last 2 digits of the Rupee value in the transaction. The quantum of Cash Back would be “last two Digits” of the Rupee Value of the Total Transaction. When the last 2 digits of the Rupee Value are “00” the Cash Back for the Transaction would be Rs 100. This is illustrated with examples below: Transaction Value on eligible MCC (Rs.) Cash Back(Rs.) - last two digits of the Rupee value 2688.22 88 3397.21 97

ING Vysya Bank signs MoU with LIC for ePayments.

Seeing this Press Release, the quotation, ‘the early bird catches the worm,’ immediately came to my mind. The need for a tie-up, can be traced to the recent Policy decision of LIC, to route all its payments to Policy Holders i.e  Survival Benefit, Maturity, Loan, Surrenders, payments of Pension & Group Schemes etc.,  directly to the Bank Account of the Policyholder / Beneficiary w.e.f 01/10/2011. NEFT was the Payment Channel to route the payments directly to the Banks accounts. To activate this process, LIC had to work with a Bank. The Bank could have been it’s normal bankers or the Bank which first pitched a viable Payments Module. AND the race was won by ING Vysya Bank with a MOU signed between ING Vysya Bank and LIC for ePayments. The Press Release can be accessed @ http://www.ingvysyabank.com/pdf's/IVBLsigns%20MoU%20with%20LIC.pdf As for the quote ‘ the early bird catches the worm’, origin can be traced to the 17th century. This is first recorded in

Oriental Bank of Commerce-Carry the Bank in your wallet!!!

OBC’s advertisement in Business Line of 08/11/2011, with the tag line – Carry the Bank in your Wallet, attracted me to have a more detailed view of the various services its customers can avail at its ATM’s. Well, as per the Bank’s website, the following ATM Services are being offered to the customers:    -- Balance Inquiry – The latest clear balance in the linked accounts can be ascertained.    -- Cash Withdrawal, Fast Cash – The basic function of an ATM.    -- Mini Statement – Normally, a printout of the last 5 transactions can be obtained.     -- PIN Change – Be careful to remember, the next time you use the ATM card.     -- Funds transfer (only among accounts linked to a card) – Some banks allow funds transfer to non-linked accounts too.     -- Cash/ Cheque Deposit in selected ATMs – Not a popular option in our country.     -- Income Tax Payment – More publicity will attract customer’s to try this option.     -- Cheque Status Inquiry – Customers need n