Tuesday, November 15, 2011

Now report your complain through social media sites too

The customer of Standard Chartered Bank will have a unique option to report their complaints through social networking sites like Facebook and Twitter. At present customers can register their complaints through a phone call, e-mail, SMS or by filling up the complaint form.

The Executive Vice-President and Head of Technology and Strategic Transformation at Scope International Pvt Ltd. Ms Jaya Vaidhyanathan said “It could be good or bad we need to react immediately.” This company provides technology solutions to the bank all over the world.

Tuesday, November 8, 2011

Finance Ministry instruct banks to cover every under-banked district by September 12

With the motive to make banking services accessible to every citizen of the country Finance ministry has instructed the banks to open branches in locations with a population of more than 5,000 in the under-banked districts.

In the mean time banks have already been working under the Financial Inclusion Plan which aims at proving banking facilities to every village in the country with a population of more than 2,000 by March 2012. For the purpose banks have been following different models to cover the villages apart from conventional branch banking method which includes business correspondents, mobile vans etc.

There are still 296 districts in the country which are unbanked and the Reserve Bank of India has asked the banks to bring them under the banking network by opening branches by September 12th.

Finance Ministry said “Such branches could initially have lesser staff, say 2 persons, with ATM facilities.” It also shared the idea of expanding the branch strength according to the growth in business. Besides, it also appealed to the banks to open as many braches as possible in areas with population of more than 10,000.

Monday, November 7, 2011

Federal Bank now accepts deposits in 9 currencies

To lure more non-resident customers to invest with it, Kerala based private sector lender Federal Bank now accepts non-resident (FCNR) deposits from a broad range of 9 different currencies which includes US, Canadian, Australian, Singaporean and Hong Kong dollars, as well as the British pound, euro, yen and Swiss franc.

The bank has also hiked the interest rates applicable on such fixed deposits, the interest rates on the deposits in US currency now ranges in between 1.94%-2.69% across various maturities.

This facility is effective from 1st November.