innovationinbanking

State Bank of India vide a Notification has notified the following:- All customers of erstwhile Associate Banks and Bharatiya Mahila Bank are requested to apply for SBI Cheque books via Internet Banking, Mobile Banking, ATM or by visiting the Home Branch. Old Cheque books and IFS codes of the above mentioned banks will not be valid after 30th Sept 2017 The State Bank of India on Thursday notified its customers that cheque books and India Financial System (IFS) code of six of its subsidiary banks would be invalid from September 30 and asked them to submit new applications. These banks are — Bank of Patiala, State Bank of Bikaner and Jaipur, State Bank of Raipur, State Bank of Travancore, State Bank of Hyderabad and Bhartiya Mahila Bank. Earlier in April, these banks had merged with SBI, which put SBI among the top 50 banks in the world This notification has also been covered in major papers across the country Economic Times  @ Cheque books of six ...

          Banks can obtain two types of Membership in the National Payment’s Corporation of India  Unified Payment Interface UPI platform:- Membership type 01) PSP and Issuer Membership type 02) Issuer PSP stands for Payment Service Provider and is mandatory if the Bank desires to offer UPI collect facility to merchants  It is however, also possible for a Bank to join UPI only as an Issuer, to provide Virtual addresses to its customer base by default. v   The ‘Issuer’, option enables NPCI to rapidly scale up the number of Banks on the UPI platform. v   The ‘Issuer’, option enables Banks to offer the benefits of UPI to its customers with minimum effort. v   The ‘Issuer’, option enables customers to experience Safe Digital Banking without exposing their bank/card details. v   The ‘Issuer’ , option encourages  merchants to adopt UPI as a Payment Option, as the numbers ...

          State Bank of India top management today announced the launch of a new CSR initiative. SBI Foundation – the CSR arm of State Bank of India is the implementation partner of this initiative.           The ultimate goal of SBI Gram Seva is to transform the adopted villages into model villages through adoption of digital tools.  Through digital infrastructure it is hoped that the villagers in adopted villages will be able to make complete use of various Government schemes. SBI will not directly fund any schemes; rather it will be an enabler for various government schemes.           In the coming days, complete details will be available on SBI foundation website. Do drop in at SBI Foundation for more details.           “SBI has adopted villages in the past but there was no focus on ...

         Request Neeraj Vetkar, Vikram Dasu, Arindam Nag, and Samardeep Subandh to run small capsule programs for the Billing Staff on the Joy of Safe ePayments                 DMart logs around 1,00,000  footfalls on weekdays across its 132 Stores spread across Maharashtra, Gujarat, Andhra Pradesh, Karnataka, Telangana, Tamil Nadu, Madhya Pradesh, Rajasthan, NCR and Chhattisgarh. On holidays the numbers go up by 75%.          It has multiple stores in cities such as Ahmedabad, Baroda, Bengaluru, Hyderabad, Pune and Surat etc. The stores open at 10 am and customer can continue shopping till 10 pm i.e the closing time.          The chief attractors of DMart stores are : 01)                 ...

          The central theme of the Bi-Annual Bangalore Lalbagh Flower Show has been announced. Every Lalbagh Flower Show has a theme around which various installations are planned.           Normally, the themes revolve around well-known buildings. Replicas of famous buildings are made of Natural Flowers which attract lacs of visitors to the Bi-Annual flower shows. The Bi-annual Lalbagh Flower Show happens every Republic Day and Independence Day. The Flower Shows last for 10-12 days with 2 Sundays included. The first Lalbagh Flower Show was held in 1912 and since then the same have been held every six months.           The organiser’s brain-storm at length to surprise the visitors with eye catching flower installations. Meticulous planning ensures that the visitors savour the installations at leisure and do not over-crowd any sect...

              The GST Go-Live in India on 1 st July, 2017 has led to major structural changes in the functioning of business entities in India.               One of the focus areas of GST is to reduce the friction associated with payment of Taxes to the Government.               The less the friction, the quicker Government gets money into its kitty. As payment of taxis is mandatory for the eligible assesses, they will somehow pay at the last moment too. The advantage of payment of taxes prior to the due date is the availability of funds in the government accounts quickly and also minimise the strain on the system. It is observed that bunching payments on the last date, leads to strain on the system, which in turns increases the stress levels.      ...

          The core belief of Shriram Group revolves around this Mahatma Gandhi Saying: “Create a company that creates wealth for society and employment, and run it like a trustee—you are just in charge to create the wealth, not own it”.           Mandatory Reading Material to understand Shriram Group Philosophy - The Socialist Moneylender           Shriram Transport holds a leadership position in commercial vehicle financing, while Shriram City Union offers small loans to a large base of customers across micro, small and medium enterprises in rural and semi-rural areas.  These are new sunrise areas for Safe Digital Transactions in our country. The following gains will be visible once the system integration kicks-off. Gain No 01) All Shriram Group customers will be encouraged to open Bank accounts with the new entity. ...