innovationinbanking

          It is impossible to imagine today’s normal banking without computers. Like all walks of life, computers dominate the banking field.           The era of digital transactions means a bank account can be accessed from any part of the world.           This has led to security challenges. The security challenges are not only to Banks IT team but also to front-line staff.           The front-line staff are made aware of the Security challenges through online and offline delivery channels.           IIBF has introduced a new course on ‘Prevention of Cyber Crimes and Fraud Management’.             The objective of the course is to make the bankers familiar with different types of cyber...

The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees five lakh only) on Shree Mahalaxmi Mercantile Co-operative Bank Ltd., Dabhoi, Dist. Vadodara (Gujarat).           The penalty was necessary as the respective co-operative banks had violated operational instructions issued by RBI u/s 36 (1) of the B R Act, 1949 (AACS). Also the bank had violated RBI guidelines for loans and advances to directors/their relatives/concerns in which they are interested. Dabhoi is a major Jain pilgrimage place. There are 6 temples. Shri Lodhan Parshvanath temple is main attraction. Dabhoi is also a major gateway for Narmada Dam, the life line for Gujarat state Dabhoi Railway Station: For a railway heritage enthusiast, a visit to Dabhoi railway station - one of the oldest narrow gauge railway junctions in the world, is a must. . At one time the Dabhoi railway station was the biggest narrow gauge railway station i...

          RiddhiSiddhi Bullions has a mandate to open 50,000 ATMs all over India.           The rollouts started in November 14 and as on April 15 end, it has 77 ATMs.           The brand name of its ATMs is State ATM .           The rollout is being handled by Raha Payment Solutions Private Limited.  Mr. Abhishek Bafna, Director is spearheading the rollout plans on behalf of RiddhiSiddhi Bullions Ltd.           The pan-India rollout plan is going slow, as the number of footfalls in the ATMs is not upto the mark.  Low footfalls increase the operating costs.             

Since November 2014, residents of Andhra Pradesh can purchase Sand through a Government designated agency i.e Society of the Elimination of Rural Poverty (SERP). Objective: The objective of the scheme is to sale a valuable natural resource i.e Sand in a transparent manner. Q: Why SERP? Ans:  SERP established by Government of Andhra Pradesh is a sensitive support structure to facilitate poverty reduction through social mobilization and improvement of Livelihoods of rural poor in Andhra Pradesh. The Self Help Groups under SERP play in an important role in the sale of sand in Andhra Pradesh. 11 tips for successful Sand purchase through Andhra Pradesh Sales System:- 01) The website http://sandbyshg.ap.gov.in/ has been designed by AP Online. 02) Regular traders to register at this webpage . Remember the username and the password. 03) Registered users can make online payment for their orders. Online payment is beneficial as the booking details on succ...

          The inspiration for today’s Blog Post is the preparations at Sree Kanteerava Stadium for TCS 2015 10k. Q: What is a marathon? Ans: The marathon is a long-distance running event with an official distance of 42.195 kilometres (26 miles and 385 yards), usually run as a road race. Marathon history in 140 characters The marathon one of the original modern Olympic events  instituted in commemoration of the fabled run of the Greek soldier Pheidippides. Event Organisers:  Procam International, a sport and leisure management firm which is also responsible for the Mumbai Marathon and Delhi Half Marathon. Chief Sponsors: 2008-10 - Sunfeast (ITC Limited). 2011 onwards - Tata Consultancy Services (TCS). Drop in @  TCS World 10K Bangalore website . Q: What motivates TCS to make this event better and better every year? Ans:  The combined enthusiasm of the ever increasing participants. Q: Wh...

          This is the first for UBER in the world.           UBER is present in 57 countries across 300 cities.           The Cash Receipts announcement is available at UBER Blog .           11 benefits from Uber Hyderabad experiment 01)   Hyderabadi’s should be proud that UBER has chosen their city for this unique experiment. 02) Still in Beta stage, hence not available for UBER Hyderabad customers. 03) No Balance in PAYTM wallet required to book UBER Cash Taxi 04) Part wallet-Part cash not available. 05) Number of UBER consumers will witness a spike. 06) India is a huge market and international companies have to localise their offerings. 07) Indians over a period of time will migrate from Cash to CashLess. 08) Constructive feedback awaited by UBER...

              Prepaid cards in India are sprouting in the most unlikely places. Yes, the prepaid cards are now visible in Hospitals too.               View this picture for more details.               The forerunner to this launch is the 2013 rollout @ AIIMS-Delhi in Cardiothoracic and Neurosciences Centre, AIIMS. This Prepaid Cash Card Seva launched by Financial Software & Systems Pvt. Ltd as a unique innovation to integrate technology with social welfare. The aim of this prepaid card is to provide patients with a one stop window for paying fee charges of all services. Taking this forward, Bank of India unveiled a special prepaid card for patients of AIIMS at Bhubaneswar. The card was unveiled in presence of Bank’s Executive Director Shri R.P.Marathe and AIIMS, ...