innovationinbanking

            The proposal to establish Railway Universities in India was first mooted in December 2015. This was formally mentioned in the Railway Budget 2016-2017. Highlights of the Railway Budget 2016-17 Updated: Feb 25, 2016, 02.03 PM IST Rail University: Initially identified the National Academy of Indian Railways at Vadodara             In June 2016 Prime Minister Narendra Modi was reviewing the progress of setting up the Rail University. He expressed unhappiness at the at the ‘slow pace’ of progress .             After this meeting, the matter was put in fast traced and this week, Indian Railways, ‘National Academy of Indian Railways’, invited  Application for sponsored candidates for (in collaboration with the Faculty of Management Studies of the Maharaja Sayajirao University of Baroda ). The r...

          Reserve Bank of India today reiterated the menace of Counterfeit (fake) Currency Notes, through a Public Notice.           The highlights of the Public Notice are as under: 01)   Unscrupulous elements are putting into circulation Fake Indian Currency Notes of higher denominations in the course of normal transactions, taking advantage of the gullible and unsuspecting nature of some members of the public. 02) The  public are advised to subject notes that are accepted to careful scrutiny. Genuine Indian Currency Notes of higher denominations have strong counterfeit resistant security features. The fake notes can be identified on closer inspection. 03) Detailed information on the security features on the banknotes are available on Reserve Bank of India website, https://paisaboltahai.rbi.org.in/, and the public may familiarize themselves with these features an...

          An interesting Post caught my attention on UBER India website . The headline of the Post is “Start-ups ride on UberPitch”.           Pitching can be made by both UBER users and Non-Uber Users residing in 28 Indian cities. The 28 cities definition has been arrived basis the cities in which UBER operates.  Interested persons have to answer 6 questions on a dedicated website and hit the ‘Submit’, button.           Pitching can be done upto November 1 st 2016. Once you submit your idea, keep checking your mailbox. Uber will inform the shortlisted riders, by November 6, 2016 via email on the further process.           Cool, isn’t it. So go ahead and do the pitching today itself. Pitch audacious ideas, stretch beyond the possible, dig deep into your sub conscious.  ...

          Bank account transactions details are normally provided to bank customers through a Pass Book or a printed Statement of Account. Customers can also access their banks account transactions through alternate channels i.e Mobile Banking, SMS Banking, Net Banking, Missed Call Banking etc.           It was a challenge for Visually Impaired customers to have a self analysis of their bank transactions and have to depend on support persons .           Realising this, State Bank of India explored the option of Video Bank Account Statement.             A couple of months back, based on feedback received from its customers, State Bank of India unveiled the Video Bank Account Statement.              In the initial phase, the Vid...

              Bank of Baroda with the Tagline of India’s International Bank has unveiled *99# USSD Banking APP for its customers.               This *99# USSD Banking APP rides on National Payments Corporation of India’s (NPCI) USSD Banking channel.               Bank of Baroda has a physical presence through 5,370+ branches spread through length and breadth of India.               The branches are concentrated in western part of India, as the foundation of the Bank was laid in 1908 in Baroda.               Out of the 5,370 plus branches, 63% of its branches are in Semi-Urban and Rural areas. If Bank of Baroda can find a way to subsidise the Sessio...

          One of the major challenges faced by Bank Debit Card holders is the inability to take immediate safeguards to block probable fraudulent activities on the debit cards.           In the initial days, Debit card holders had to contact their base branch, to BLOCK the card, to prevent probable fraudulent activities. As technology improved, customers could contact a centralized customer care phone number or SMS key words to BLCOK the debit card.           As technology further improved, Banks have launched APPS on Google Playstore to enable Bank Debit Card Holders to control transaction features on their debit cards.           IDBI Banks ‘Abhay’, is one such APP. Abhay Card.  ‘Abhay’- Instant, anywhere Card Control Application The chief objective of IDBI Bank 'Abhay' mobile app is to emp...