Deutsche bank : on the quest of being global leadersDeutsche bank : on the quest of being global leaders

Anshu Jain, the co-chief executive, intended to make deutsche bank, the only “truly global” bank on his first day of interaction with staff. Deutsche focuses now to join the top 5 or 6 global lenders list. Instead of tough competition with large investment banks like HSBC, JP Morgan, Barclays, Bank of America, Morgan Stanley etc., Euro zone crisis and missteps by them can help Deutsche bank to win market share.

Closer to home, Deutsche Bank said it would integrate the Asset management and wealth management divisions into a new standalone unit as part of a strategic overhaul introduced by Jain and co-executive Juergen Fitschen.

Bank has made some major appointments in this regard n prepared a 15 member committee to revise the strategies which includes Zar Amrolia- head of foreign exchange, Ram Nayak – Chairman of Emerging market Committee and Michael Ormaechea- head of Fixed Income Currencies commodities Asia Pacific.

Airtel and Axis Bank ink m-banking deal

Bharti Airtel’s subsidiary, Airtel m-commerce services and Axis bank partnered to provide banking and payment services to India’s sub-urban and rural population.

"According to estimates, nearly 43 percent of our country's population does not have bank accounts and continues to rely on cash for majority of transactions as well as payments," said Sanjay Kapoor, chief executive officer (India and South Asia), Bharti Airtel.

The new services will allow the customers to enjoy their money transactions like sending, withdrawal, safe deposits etc. and services like. Micro-recurring deposits, small loans and micro-insurance products through their mobile device, acting as a no-frills bank account service.

Infosys, the IT giant, will service as the Technology Innovation partner.

Savings account rates differ from bank to bank

Compare the saving account rates of different banks nowadays wherein you will find a good difference in what they are offering. Some may be offering a rate of 3 % and there are others who have upgraded it to nearly 6 %. This really calls for some good amount of research on such banks and the one with a legitimate offering should not be missed out. Bank with a trusted name in the regions is always admired and should be the one you must be going with.

Such a huge difference in the Savings account rates for different banks really calls out for the competition that they are facing at their end as well. Each of the banks is trying to snatch other banks customers which in a way are helping the end user to get hold of good rate on his saving account.

Summary: With so many banks offering saving account rates at almost 6%, the customer choice has been increased to enormous level.

Federal Bank has set up 100 branches in one day

Private sector lender Federal Bank has set up as many as 100 branches in one day on 10th March 2012, Saturday. This has taken the total branch count of the bank to 938.

“We expect to touch 1,000 branches by June this year,” said Mr R. Sivakumar, Zonal Head – Bangalore Zone, Federal Bank.

. The bank also plans to include 31 new branches in its Bangalore and Chennai zones. “Of these new branches, seven would be in Karnataka, three in Andhra Pradesh and one in Goa,” he said.

Bangalore zone has states namely Karnataka, Andhra Pradesh and Goa included.

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.

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 12^th.

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.

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 1^st November.