innovationinbanking

          Check out my video @ https://youtu.be/mtJ0r_BzbtY           The slogan of Bank of Maharashtra is ‘Ek Parivaar Ek Bank’.           The launch of Mudra Card was one of the main attractions on the occasion of Bank’s 81 st Foundation Day celebrations.           Mudra card issued as a Rupay debit card is hassle free flexible credit product that meets working capital needs of micro and small entrepreneurs.           The bank was founded by a group of visionaries led by the late V. G. Kale and the late D. K. Sathe and registered as a banking company on 16 September 1935 at Pune.            Bank of Maharashtra has brought an educative booklet focussed on children entitled BachatKiKahani .           The booklet through its 16 pages conveys the importance of inculcating saving habits in young adults.           METCO-Bank of Maharashtra subsidiary specialises in assisting Indians in Will Preparations along with execution of Wills, if necessary.      

          Date: 24/09/2015            Name : ESAF Small Finance Bank Probable Date of opening : August 2016 Deposits : Accept all kinds of deposits, including NRIs Loans : Focus on micro and small credit needs of poor women in unbanked areas. Network :  450 branches, 600 service centres Human Resources : At present, two-thirds of the firm’s 3,000 staff are women.           Loan Approach : Cluster approach to lending – to groups of four or five women. Four or five such ‘affinity groups’ were linked together. Disburse loans in the range of ₹ 15,000- ₹ 50,000 to women engaged mainly in agriculture and fisheries.           The present customer base of eight lacs and assets of ₹ 1,200 crore, will be tapped to scale up the new bank business to ₹ 10,000 crore in five years.

          After a series of preparatory meetings, the RBI’s Annual Quiz ( RBIQ 2015 )for High School Students has kicked off in mid September. This year also, RBIQ will be held at 62 locations across the country & BHOPAL has been chosen as one of the location. Two members will form a team and only 1 / 2 team (not more than 3 team) from a school can be nominated to participate. No further details are available on the World Wide Web. As and when information is shared, the details will be updated

          Today’s post is inspired by Operation Sulaimani and a heart to heart discussion with my 12 year old son along with his cousins.           Ganesh Chaturhti season is over. Shopping volumes zoom during Dusshera and Diwali festivals.           All eCommerce players have expanded their portfolio range and strengthened their delivery channels.           The key tool to attract shoppers is the ‘CashBack’, schemes. Q: What is ‘CashBack’? Ans: In simple terms, ‘CASHBACK’ means credit back of some percentage of the buying price to the buyers account. These ‘CASHBACK’ can be utilised for future purchases on participating sites. Q: Which is better ‘CASHBACK’ or ‘Discount?” Ans:  Customer angle: Discount, as the benefit is immediately visible and he/she need not shop on the same sites once again. eCommerce Site angle: ‘CASHBACK’ as, ‘CASHBACK’ increases the stickiness quotient of customers coming back. Q: What is the major drawback of ‘CASHBACK’? A

     Janalakshmi Financial Services is one of the very few NGOs which focuses on Urban Poor. It started its journey in 1999. However, the major transformation happened in 2008 when it opened its first branch outside Bangalore in Coimbatore-Tamil Nadu.      At present, it has a physical presence in 16 states through 229 branches, touching 27 lac customers. Sphere of Influence: Area The 16 States are:- 1.      Tamil Nadu, 2.      Karnataka, 3.      Maharashtra, 4.      Gujarat, 5.      Rajasthan, 6.      Haryana, 7.      Punjab, 8.      Uttharakand, 9.      Delhi, 10.   Uttar Pradesh, 11.    Madhya Pradesh, 12.   Bihar, 13.   Jharkand, 14.   Odisha, 15.   Chhatisgarh, 16.   West Bengal Sphere of Influence: Loans Loans for Individuals:- Small Batch Loans Nano Loans Home Improvement Loans Jana Kisan Loan Education Loan Loans for Enterprises:- Super Nano Loan Micro, Small and Medium Enterprise (MSME) Loans Long term b

          ESAF MICROFINANCE begun its journey in 1995 with initial focus in the state of Kerala. Over the years it has grown to 150+ branches with foot prints in Tamil Nadu, Maharashtra, Chattisgarh, Madhya Pradesh,Jharkand. ESAF MICROFINANCE  has impacted more than 700 thousand poor households.           ESAF Society, Swasraya Producers Co Ltd., Healthcare Services P Ltd., Retial P Ltd., SHG Federation and Natural Resource ManagESAF Microfinance ent function under the umbrella ESAF group.            ESAF MICROFINANCE loan products are sub-divided into 16 types: Income Generation Loan General Loan Nirmal Loan Jeevandhara Loan Agriculture Loan Vidhyajyothi Loan Suryajyothi Loan Grihajyothi Loan Mobile Loan Micro Enterprise Loan – Dairy (MELD) Ultra Poor Loan Income Generation Loan (Dairy) Income Generation Loan (Special) Home Improvement Loan House Loan Home Loan - Gruha Sudhar & Gruha Nirman This categorization of loans assists the processing

     One unique feature of DISHA MICROFIN  is that Hundred % of its borrowers are all women!!      DISHA MICROFIN  started its operations in 2009-10. In the first year of its operations it had 6 branches which scaled up to 71 branches as on 31 st  March, 2015.      It increased its coverage from 236 villages to 8612 villages. Its operates through Joint Lending Groups (JLGs’)      It’s sphere is influence are under-banked but credit-worthy rural and semi urban households in the states of Gujarat, Rajasthan, Madhya Pradesh and Karnataka.      Loan Management is done through a fully Integrated Technology Network. The ability to access real time reports, enhances DISHA MICROFIN  Team’s decision making capabilities. Disha manages its loan process through 3 distinct technology systems during each phase of loan sourcing and origination, processing and post-disbursal. CAMS - Loan origination and documentation system for automation of loan processing & credit che

     248 branches spread over ten states, touching 3,00,000 + customers.      AU Financiers started its journey in 1996, witnessed the downfall of CRB Bank from close quarters. Specialised in financing of used vehicles.      AU means Gold in Sanskrit      HDFC Bank and ICICI Bank have subscribed to Tier II Capital Bonds Spheres of Influence:      The Ten states are: 1.      Maharshtra, 2.      Madhya Pradesh, 3.      Chattisgarh, 4.      Gujarat, 5.      Rajasthan 6.      Punjab, 7.      Himachal Pradesh, 8.      Delhi 9.      National Capital Region (NCR) 10.   Goa Sectors: ·        Commercial vehicle loan ·        Car Loan ·        Small & Medium Enterprises Loan ·        Loan against property ·        Insurance Ex-Bankers in Top Management: Mr. Manoj Tibrewal, Executive Vice President  - CitiBank DSA Alumni Mr. Rishi Dhariwal, Sr. Vice President (NCM)- Vehicle - Citi Priority Sector Banking Alumni Mr. Naveen

Capital Local Area Bank Limited, the largest Local Area Bank in the country, completed 15 years of operation on January 14, 2015. The Bank has been operating in the three contiguous Districts of Jalandhar, Kapurthala and Hoshiarpur in Punjab for the initial 13 years. In January 2013, the Reserve Bank of India accorded the approval for expansion in the area of operation of the Bank to two more Districts of Ludhiana and Amritsar in Punjab. The total business of the Bank has crossed Rs.2600 crores spread out in 39 branches (18 rural, 15 semi urban, 4 urban and 2 metropolitan), with more than 3,30,000 number of accounts. During the current financial year 10 new branches will become operational Key Features ·        7 Day Branch Banking ·        Uninterrupted & Extended Banking Hours ·        Monday to Friday (10:00 a.m. to 5:00 p.m.) ·        Saturday & Sunday (10:00 a.m. to 2:00 p.m.) ·        State-of-the-art Branch Interiors ·        RuPay Debit Card acce

RBI awards 'in-principle' sanction of Small Finance Bank license to Utkarsh Micro Finance Ltd Varanasi (Source : RBI Press Release : 2015-2016/693 dated Sep 16, 2015) Brief Introduction: Reach as on August 31, 2015 Group lending: No. of Branches     269 Members:      798,853 Active Loan client:    735,626 The company operates from 286(269 JLG and 17 Micro Enterprize Loan)branches in Sixty Seven districts as on 31th August, 2015. Sphere of Influence Area of Operations:-- District wise coverage:- Uttar Pradesh -- Allahabad, Azamgarh, Ballia, Basti, Chandauli, Deoria, Ghazipur, Gorakhpur, Jaunpur ,Kaushambi, Kushinagar, Maharajganj, Mirzapur, Saharanpur, Sant Kabir Nagar, Siddharthnagar, SRN Bhadohi, Sultanpur & Varanasi. Bihar -- Aurangabad, Bhojpur, Buxar, Gaya, Gopalganj, Kaimur, Muzaffarpur, Nalanda, Nawada, Pashchim Champaran, Patna, Poorvi Champaran, Rohtas, Samastipur, Saran, Siwan & Vaishali. Madhya Pradesh -- Anuppur, Jabalp

          On the occasion of Ganesh Chaurthi , Reserve Bank of India has announced in principle approvals for 10 Small Finance Banks in India.           In the next 18 months, these entities have to complete the RBI formalities to obtain full-fledged Small Finance Bank licences.           The lists of the entities are as under: Au Financiers (India) Ltd., Jaipur @ http://www.aufin.in/ LEADING CHANGE - Mr. SANJAY AGARWAL NOMINATED FOR THE ERNST & YOUNG (E&Y) ENTREPRENEUR OF THE YEAR AWARD 2014, INDIA Capital Local Area Bank Ltd., Jalandhar @ http://www.capitalbank.co.in/ Ranked no.1 in Banking sector amongst INDIA’s 100 Best Companies to work for 2015 by 'Great Place To Work' Institute Disha Microfin Private Ltd., Ahmedabad @ http://www.dishamicrofin.com/customer_stories.php Equitas Holdings P Limited, Chennai @ http://www.equitas.in/ Business run by microfinance members ESAF Microfinance and Investments Private Ltd., Chennai @ http://emfil.

          The TNSC Bank with 44 branches spread all over Chennai is now part of the RuPay ATM network. The Tamil Nadu State Apex Co-operative Bank or TNSC Bank is an Indian cooperative banking company headquartered in Chennai. It was incorporated in 1905 as an urban cooperative bank. Now, TNSC account holders can be issued RuPay enabled debit cards. As the operating costs of RuPay Cards are less as compared to other ATM cards, TNSC Bank is expected to aggressively promote RuPay cards. Over the years, TNSC Bank has won numerous awards, which can be viewed here.

          The awareness levels amongst Indians for digital transactions are on the increase. More and More Indians are willing to experiment various ‘LessCash’, modes.           Banks, eCommerce Companies, Prepaid Issuers, Government Agencies, Media, Private Players all are doing their bit to promote Safe eTransactions.           The needs of citizens residing in Urban Areas and Rural Areas are different. Urban area residents prefer digital cash as part of their daily routine.           Rural area citizens prefer a combination of digital and physical cash in their daily routine.           A large number of rural citizens reside in urban areas for their daily livelihood. These citizens prefer to send back a substantial part of their earnings to their families in rural areas.           They are interested in National Remittance facilities. The traditional modes of remittances are:- 01)   Time consuming 02) Unreliable 03) Unsafe 04) Costly 05) Not available