innovationinbanking

Viewers of The Hindu - Bangalore Edition, might have noticed that only a small advertisement, in the left lower corner appears frequently. This Advertisement is by Central Bank of India , regarding it's Fixed Deposit Interest Rates. What I liked about this concept 01) It is attractive 02) Though small, it is eye-catching. 03) The cartoon image attracts the viewer instantly.

ING Vysya Bank has launched a new Term Deposit Scheme known as ING ACTIVE DEPOSIT. The highlights of the scheme are at the Bank’s website @ http://www.ingvysyabank.com/scripts/ing_active_deposit.aspx In simple terms, as I understand, the distinctive features of this Term Deposit are: 01)   This deposit allows the Depositor to earn better returns, while enjoying the power of liquidity, with the instant withdrawal feature.   02)   ING Active Deposit facilitates the depositor to withdraw the deposit either at the ATM or through a cheque . 03)   The ING Active Deposit is broken only for the amount withdrawn , while the balance continues at the original rate. Well as a Safe   ePayments Motivator, I would have preferred one more withdrawal option i.e NEFT via Net Banking

Savings bank interest rate – case for deregulation ? The momentum for Deregulation of Savings Bank Interest rate seems to be picking up speed. This issue was one of the points in the “ Key Note Address at the Panel Session on “Setting new paradigm in regulation” (Keynote address by Smt. Usha Thorat, Deputy Governor, Reserve Bank of India at the Panel Session on ‘Setting New Paradigm in Regulation’ at the FICCI -IBA Conference on ‘Global Banking: Paradigm Shift ’ on September 8, 2010)” The Address can be accessed @ http://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=521 Vide the above address, Smt.Usha Thorat, has indicated that Working Group will be set up to examine the various pros and cons of Deregulation of Savings Bank Interest rate I would request readers to via my earlier post on the Deregulation of Savings Bank Interest rate, for a different perspective. http://simplybanking.wordpress.com/2010/06/27/deregulation-of-savings-bank-interest-rates-–-valid-period/