Showing posts from September, 2015

Bank of Maharashtra unveils MUDRA Card

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          The slogan of Bank of Maharashtra is ‘Ek Parivaar Ek Bank’.
          The launch of Mudra Card was one of the main attractions on the occasion of Bank’s 81st Foundation Day celebrations.
          Mudra card issued as a Rupay debit card is hassle free flexible credit product that meets working capital needs of micro and small entrepreneurs.
          The bank was founded by a group of visionaries led by the late V. G. Kale and the late D. K. Sathe and registered as a banking company on 16 September 1935 at Pune.
           Bank of Maharashtra has brought an educative booklet focussed on children entitled BachatKiKahani.
          The booklet through its 16 pages conveys the importance of inculcating saving habits in young adults.
          METCO-Bank of Maharashtra subsidiary specialises in assisting Indians in Will Preparations along with execution of Wills, if necessary.
          Bank of Maharashtra, in association with …

Small Finance Bank – Update on ESAF Microfinance and Investments Private Ltd., Chennai

Date: 24/09/2015
Name: ESAF Small Finance Bank
Probable Date of opening: August 2016
Deposits: Accept all kinds of deposits, including NRIs
Loans: Focus on micro and small credit needs of poor women in unbanked areas.
Network:  450 branches, 600 service centres
Human Resources: At present, two-thirds of the firm’s 3,000 staff are women.
Loan Approach: Cluster approach to lending – to groups of four or five women. Four or five such ‘affinity groups’ were linked together. Disburse loans in the range of ₹15,000-₹50,000 to women engaged mainly in agriculture and fisheries.

          The present customer base of eight lacs and assets of ₹1,200 crore, will be tapped to scale up the new bank business to ₹10,000 crore in five years.

RBIQ 2015 kicks off

After a series of preparatory meetings, the RBI’s Annual Quiz ( RBIQ 2015 )for High School Students has kicked off in mid September.
This year also, RBIQ will be held at 62 locations across the country & BHOPAL has been chosen as one of the location.
Two members will form a team and only 1 / 2 team (not more than 3 team) from a school can be nominated to participate.
No further details are available on the World Wide Web. As and when information is shared, the details will be updated

Indians – Will you donate your CashBack?

Today’s post is inspired by Operation Sulaimani and a heart to heart discussion with my 12 year old son along with his cousins. Ganesh Chaturhti season is over. Shopping volumes zoom during Dusshera and Diwali festivals.           All eCommerce players have expanded their portfolio range and strengthened their delivery channels.           The key tool to attract shoppers is the ‘CashBack’, schemes.
Q: What is ‘CashBack’? Ans: In simple terms, ‘CASHBACK’ means credit back of some percentage of the buying price to the buyers account. These ‘CASHBACK’ can be utilised for future purchases on participating sites.
Q: Which is better ‘CASHBACK’ or ‘Discount?” Ans:  Customer angle: Discount, as the benefit is immediately visible and he/she need not shop on the same sites once again. eCommerce Site angle: ‘CASHBACK’ as, ‘CASHBACK’ increases the stickiness quotient of customers coming back.
Q: What is the major drawback of ‘CASHBACK’? Ans: ‘CASHBACK’ expires if not utilised within specified pe…

Small Finance Bank - Janalakshmi Financial Services Private Limited, Bengaluru

Janalakshmi Financial Services is one of the very few NGOs which focuses on Urban Poor. It started its journey in 1999. However, the major transformation happened in 2008 when it opened its first branch outside Bangalore in Coimbatore-Tamil Nadu.
     At present, it has a physical presence in 16 states through 229 branches, touching 27 lac customers.
Sphere of Influence: Area
The 16 States are:- 1.Tamil Nadu, 2.Karnataka, 3.Maharashtra, 4.Gujarat, 5.Rajasthan, 6.Haryana, 7.Punjab, 8.Uttharakand, 9.Delhi, 10.Uttar Pradesh, 11.Madhya Pradesh, 12.Bihar, 13.Jharkand, 14.Odisha, 15.Chhatisgarh, 16.

Small Finance Bank - ESAF Microfinance and Investments Private Ltd., Chennai

ESAF MICROFINANCE begun its journey in 1995 with initial focus in the state of Kerala. Over the years it has grown to 150+ branches with foot prints in Tamil Nadu, Maharashtra, Chattisgarh, Madhya Pradesh,Jharkand. ESAF MICROFINANCE  has impacted more than 700 thousand poor households.
          ESAF Society, Swasraya Producers Co Ltd., Healthcare Services P Ltd., Retial P Ltd., SHG Federation and Natural Resource ManagESAF Microfinance ent function under the umbrella ESAF group. 
          ESAF MICROFINANCE loan products are sub-divided into 16 types:
Income Generation LoanGeneral LoanNirmal LoanJeevandhara LoanAgriculture LoanVidhyajyothi LoanSuryajyothi LoanGrihajyothi LoanMobile LoanMicro Enterprise Loan – Dairy (MELD)Ultra Poor LoanIncome Generation Loan (Dairy)Income Generation Loan (Special)Home Improvement LoanHouse LoanHome Loan - Gruha Sudhar & Gruha NirmanThis categorization of loans assists the processing officials to quickly take decisions.

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Small Finance Bank - Disha Microfin Private Ltd., Ahmedabad

One unique feature of DISHA MICROFIN  is that Hundred % of its borrowers are all women!!
     DISHA MICROFIN  started its operations in 2009-10. In the first year of its operations it had 6 branches which scaled up to 71 branches as on 31st March, 2015.
     It increased its coverage from 236 villages to 8612 villages. Its operates through Joint Lending Groups (JLGs’)
     It’s sphere is influence are under-banked but credit-worthy rural and semi urban households in the states of Gujarat, Rajasthan, Madhya Pradesh and Karnataka.
     Loan Management is done through a fully Integrated Technology Network. The ability to access real time reports, enhances DISHA MICROFIN  Team’s decision making capabilities.
Disha manages its loan process through 3 distinct technology systems during each phase of loan sourcing and origination, processing and post-disbursal.
CAMS - Loan origination and documentation system for automation of loan processing & credit check to approval phase. Financial Acc…

Small Finance Bank - Au Financiers (India) Ltd., Jaipur

248 branches spread over ten states, touching 3,00,000 + customers.
     AU Financiers started its journey in 1996, witnessed the downfall of CRB Bank from close quarters. Specialised in financing of used vehicles.
     AU means Gold in Sanskrit
     HDFC Bank and ICICI Bank have subscribed to Tier II Capital Bonds
Spheres of Influence:      The Ten states are: 1.Maharshtra, 2.Madhya Pradesh, 3.Chattisgarh, 4.Gujarat, 5.Rajasthan 6.Punjab, 7.Himachal Pradesh, 8.Delhi 9.National Capital Region (NCR) 10.Goa Sectors: ·Commercial vehicle loan ·Car Loan ·Small & Medium Enterprises Loan ·Loan against property ·Insurance
Ex-Bankers in To

Small Finance Bank - Capital Local Area Bank Ltd., Jalandhar

Capital Local Area Bank Limited, the largest Local Area Bank in the country, completed 15 years of operation on January 14, 2015. The Bank has been operating in the three contiguous Districts of Jalandhar, Kapurthala and Hoshiarpur in Punjab for the initial 13 years. In January 2013, the Reserve Bank of India accorded the approval for expansion in the area of operation of the Bank to two more Districts of Ludhiana and Amritsar in Punjab. The total business of the Bank has crossed Rs.2600 crores spread out in 39 branches (18 rural, 15 semi urban, 4 urban and 2 metropolitan), with more than 3,30,000 number of accounts. During the current financial year 10 new branches will become operational
Key Features ·7 Day Branch Banking ·Uninterrupted & Extended Banking Hours ·Monday to Friday (10:00 a.m. to 5:00 p.m.) ·Saturday & Sunday (10:00 a.m. to 2:00 p.m.) ·State-of-the-art Branch Interiors ·RuPay Debit Card acceptance across 1.98 + lacs ATM's and over 10 lacs POS Terminals. ·Internet Ba…

Small Finance Bank – Utkarsh Micro Finance Ltd Varanasi

RBI awards 'in-principle' sanction of Small Finance Bank license to Utkarsh Micro Finance Ltd Varanasi (Source : RBI Press Release : 2015-2016/693 dated Sep 16, 2015) Brief Introduction:
Reach as on August 31, 2015 Group lending: No. of Branches     269 Members:      798,853 Active Loan client:    735,626 The company operates from 286(269 JLG and 17 Micro Enterprize Loan)branches in Sixty Seven districts as on 31th August, 2015.
Sphere of Influence
Area of Operations:-- District wise coverage:- Uttar Pradesh-- Allahabad, Azamgarh, Ballia, Basti, Chandauli, Deoria, Ghazipur, Gorakhpur, Jaunpur ,Kaushambi, Kushinagar, Maharajganj, Mirzapur, Saharanpur, Sant Kabir Nagar, Siddharthnagar, SRN Bhadohi, Sultanpur & Varanasi. Bihar-- Aurangabad, Bhojpur, Buxar, Gaya, Gopalganj, Kaimur, Muzaffarpur, Nalanda, Nawada, Pashchim Champaran, Patna, Poorvi Champaran, Rohtas, Samastipur, Saran, Siwan & Vaishali. Madhya Pradesh-- Anuppur, Jabalpur, Katni, Narsinghpur, Rewa, Satna & Shahdol. Utt…

These new 10 Small Finance Banks in India will transform India’s Digital economy

On the occasion of Ganesh Chaurthi, Reserve Bank of India has announced in principle approvals for 10 Small Finance Banks in India.           In the next 18 months, these entities have to complete the RBI formalities to obtain full-fledged Small Finance Bank licences.
          The lists of the entities are as under:
Au Financiers (India) Ltd., Jaipur @ CHANGE - Mr. SANJAY AGARWAL NOMINATED FOR THE ERNST & YOUNG (E&Y) ENTREPRENEUR OF THE YEAR AWARD 2014, INDIA Capital Local Area Bank Ltd., Jalandhar @ no.1 in Banking sector amongst INDIA’s 100 Best Companies to work for 2015 by 'Great Place To Work' Institute Disha Microfin Private Ltd., Ahmedabad @ Holdings P Limited, Chennai @ run by microfinance members ESAF Microfinance and Investments Private Ltd., Chennai @…

Tamil Nadu State Apex Co-op Bank Ltd is live on RuPay ATM

The TNSC Bank with 44 branches spread all over Chennai is now part of the RuPay ATM network.
The Tamil Nadu State Apex Co-operative Bank or TNSC Bank is an Indian cooperative banking company headquartered in Chennai. It was incorporated in 1905 as an urban cooperative bank.
Now, TNSC account holders can be issued RuPay enabled debit cards. As the operating costs of RuPay Cards are less as compared to other ATM cards, TNSC Bank is expected to aggressively promote RuPay cards.

Over the years, TNSC Bank has won numerous awards, which can be viewed here.

Should Card to Card Funds transfer be enabled on Indian POS Terminals?

The awareness levels amongst Indians for digital transactions are on the increase. More and More Indians are willing to experiment various ‘LessCash’, modes.           Banks, eCommerce Companies, Prepaid Issuers, Government Agencies, Media, Private Players all are doing their bit to promote Safe eTransactions.           The needs of citizens residing in Urban Areas and Rural Areas are different. Urban area residents prefer digital cash as part of their daily routine.           Rural area citizens prefer a combination of digital and physical cash in their daily routine.           A large number of rural citizens reside in urban areas for their daily livelihood. These citizens prefer to send back a substantial part of their earnings to their families in rural areas.           They are interested in National Remittance facilities. The traditional modes of remittances are:- 01)Time consuming 02)Unreliable 03)Unsafe 04)Costly 05)Not available 24*7
Alternate remittance facilities are becomin…