innovationinbanking

          IKEA’s first store in India @ Hyderabad is attracting huge crowds. The 400,000 sq ft store spread on 13 acres has a mind-boggling selection of goods for the     shoppers.           IKEA line of business consists of two categories – General and Business.           The General category caters to the general public at large focussing on rooms in a typical home i.e Bedroom, Kitchen, Dining room, Living room, Children's room, Home office, Bathroom, Outdoor, and Hallway.           The products which can fit into the above rooms are :   Baby & children products, Bathroom sinks taps & cabinets, Beds, Chairs stools & benches, Cookware, Decoration, Desks, Home furnishing accessories, Indoor gardening, Kitchen, Laundry & cleaning products, Leisure & safety p...

           NPCI – NACH Department has released a strongly worded circular regarding ‘ Embossing signatures on Mandate Images’. NACH Circular No 34 dt. November 22, 2018.           NPCI has noticed that few Presenting Banks / cooperates are indulging   in the following practices: 01)   Embossing the signature of the customer ( cropped from some other document) on the image of the physical mandate. 02) Getting the customer sign on the electronic gadget ( on the surface of the tablet, IPAD) that is used for inputting the mandate details. Both the above practices are not part of the NACH Procedural Guidelines.   As on date, Wet Signature is mandatory on a NACH Physical mandate.           Institutions circumventing the rules, bring disrepute to the whole NACH Cycle. All the participating instructions in the NACH Channel, be it P...

Q: 01) What is the Location? Ans: 01)   The position is at National Payments Corporation of India, Head Office- Mumbai Q: 02) What is the domain experience required to apply for this opening? Ans: 02) 5-6 years is the preferred domain experience Q: 03) Is this a transferable position? Ans: 03)   No this is not a transferable position. Q: 04) What are the growth prospects? Ans: 04) All economic transactions are subject to fraud risks. It is impossible to eliminate all fraud in an economic transaction. Hence, the growth prospects are bright for this sector. Major Banks in India are deploying Enterprise Fraud Risk Management Solution’s to minimise fraudulent transactions. Hence, experienced candidates can look forward to good growth prospects. 01)   Bank of India's RFP for Procurement and Implementation of EFRM Q: 05) Will the successful candidate lead a team? Ans: 05)   Yes, the successful candidate will lead a team. Q: 0...

          Sufal Bangla is a unique initiative by Department of Agricultural Marketing, Government of West Bengal which aims to provide an easy interface between producers and consumers and benefit both the farmers and consumers.           The consumers are serviced through a mix of mobile and static stalls. The mobile stalls move within their dedicated routes to enable the consumers to purchase fresh daily essentials at reasonable prices.           West Bengal Government rolled out the Sufal Bangla scheme in 2014 with the primary focus on mobile stalls. The project kick started out with 14 mobile stalls. Over the years, the number has gone up and now there are 100 Plus stalls.           Kolkata itself has 72 stalls, with the remaining 32 spread across various districts.   ...

          NPCI has kick-started a major LessCash Drive in 2500 fuel stations spread across India’s 100 Smart Cities. The primary aim of this Drive is to motivate the Oil Marketing Companies customers to pay for their fuel through BHIM UPI and cards.           The secondary aim is to increase the share of digital transactions vs cash transactions at the targeted fuel stations.           Both     UPI VPA and Card POS terminals are open based, i.e payment via UPI or at Card POS terminals can be done with any participating bank account card and not locked to any respective bank account.           The Fuel Pump owner can have an account with any UPI Acquirer Bank, it does not matter to the paying customer. Similarly, the fuel pump owner can have a POS terminal of any card acquiri...