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Archive for the 'Banking Sector' Category

Budget 2013 – First Ever All-Women Public Sector Bank in India

In his budget speech, the Finance Minster, Mr.P.Chidambaram today announced that soon Public Sector banks specially for women will get opened up in the country. Such Public Sector Banks will be completely staffed with women employees and will give loans mostly to women. He added in his budget speech that including two public sector banks […]

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Power Finance Corporation (PFC) To Start a Bank

PFC Logo Power FInance Corporation

Power Finance Corporation (PFC) has revealed that the board is very keen in setting up banking institution in the country and will very soon be applying for the license as the RBI’s guidelines and norms for setting up commercial banks which were issued last week have been already met by the lending agency. Satnam Singh, […]

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How To Verify or Check Indian Currency Banknotes Authenticity?

1000 rupees bank note RBI

The Reserve Bank of India has now provided an online facility for the users to check the security features that one must look at to ensure whether the currency notes are fake or real. In order to identify the special security features, one just needs to press on the images of the notes of Rs. […]

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Budget 2013 – Special Tax Deducations For Rent, HRA, LTA & Life Insurance

Tax on Rent

To combat with the inflationary pressures, the finance minister is more likely to announce numerous tax amendments and concessions in the coming Union Budget for the financial year 2013-2014 to be announced before the Parliament on 28th February 2013. For people who stay in rented accommodations and do not have their own houses and employees […]

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Digital Banking 2012 – Data Analysis and Social Media Are Integral Parts

Digital Banking

With the advancements in technology, everything simply had become possible. The only limitation of what technology could do now is our imagination. According to expert bankers, customer data analysis and social media would play a big role in delivering banking services and maintaining customer loyalty. According to Ajai Kumar, Chairman and Managing Director of Corporation […]

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India Crosses 1 Lakh ATM Outlets – SBI Owns 59% ATMs

NPCI Logo National Payments Corp

According to National Payments Corporation the banking system had reached a record of 1 lakh ATMs at the end of October. The total number of ATM stood at 1,04,500. The company is the one operating National Financial Switch for connectivity between banks and ATMs. Banks are also responsible of handling their quarterly reports in the […]

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35% rise in net profit for Central Bank of India

Central Bank of India Logo

Central Bank of India is doing quite well on this fiscal with a 35 per cent increase in net profit in the July-September quarter. The profit was worth Rs 330 crore which is higher compared to its value in the same quarter a year ago which only amounted to Rs 224 crore. Among the reasons […]

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Michael Corbat successor of Vikram Pandit in Citigroup

Citigroup Citibank Logo

There is a change in the leadership of Citigroup since their CEO Vikram Pandit just stepped down from his post and also left his membership of the US banking giant’s Board. The person that replaced Vikram is Michael Corbat, CEO and director of the Board. For the record, Pandit graduated in Nagpur-born Columbia University. Now […]

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