Saturday, November 21, 2015

HDFC Bank and Zumigo join hands to fight ATM frauds

          Majority of ATM cash withdrawals are through Debit Cards. The CNP (Card Not Present) alternate modes are not still popular in India.

          It is observed that majority of the frauds at ATM happen through compromised cards\information.

          The key feedback received from customers affected through ATM fraud is that they were not present in the ATM cabin at the time of the cash withdrawal.

          To minimise such instances, HDFC Bank with over 12,000 ATMs has decided to deploy Zumigo’s Assure Radius™ solution to detect suspicious transactions at its ATMs.

          Zumigo released the Assure Radius™ solution in India in August, 2015 .

          Since then couple of Banks and other organisations were beta-testing the product.          

          HDFC Bank is the first bank in India to announce deployment of  Zumigo’s Assure Radius™ solution at its ATMs.

          HDFC Bank in association with National Payments Corporation of India (NPCI) will roll out the pilot project at select ATMs.

          According to this technology, the Solution will be able to map a customer’s location using that person's smartphone.

If the ATM card is being used at a location which is at a different location from the phone, then it will raise an alert.

The major assumption that the customer’s Smartphone and the associated Debit Card are carried by the same person.

There are no statistics available with regard to Non-Account holders withdrawing cash with genuine ATM cards.

The bank is yet to lay down rules about the distance between the ATM where the transaction is taking place to classify as a Safe Transaction and the mobile phone or whether it will be available to all debit card holders etc.

Based on customers, call-centre, branch team feedback fine-tuning will be carried out.

An awareness campaign on the benefits of carrying the Registered Mobile Number Smartphone and Debit card is in the pipeline.

Tuesday, November 10, 2015

Wanted Digital Banking Partner for 100 year old Lalbagh Flower Festival

The LALBAGH FLOWER FESTIVAL is one of Bangalore’s highlight and is eagerly awaited by a large number of followers. Over 200 editions of LALBAGH FLOWER FESTIVAL have been over so far. Every half-year a new unique theme is chosen and show-cased to Bangalorean’s.  The event not only attracts Bangalorean’s, but also visitors from nearby districts.

          The main flower display is in the Glass Garden and is a photographer’s delight. Families jostle each other for the best shot. The best photos are immediately shared via Facebook, Instagram and other photo sharing apps.

          In a year, Lalbagh hosts two flower shows. The first one is in January during the Republic Day week and the second one in August during the Independence Day week.

          The seeds of the LALBAGH FLOWER FESTIVAL were sown in 1912 with the first edition kicked off, when G.H. Krumbeigel took over as superintendent of Lalbagh.

          Every flower show over the last 100 years has a unique theme. The themes have ranged from  Taj Mahal, Eiffel Tower and the Namma Metro, Royal Mysore Palace, Mysore Dasara procession, Fort and Statue of Liberty, Bangalore Palace, Buddha Stupa  all  portrayed in flora.
Another unique feature about  LALBAGH FLOWER FESTIVAL is that it is  the only one flower show in the country that displays potted plants

The Glass House which houses the main theme replica is  modelled along London’s Crystal Palace.

          The preparations for the next edition of LalBagh flower show begin as soon as the current edition gets over.

          The main decision is on the edition’s theme. Once the theme is finalised, the preparations kickoff. As the show is spread over 10 days, the flowers should be fresh throughout this period.

          The theme is made public two weeks before the official inauguration to build up interest in the flower show.

          On an average, 5 lac visitors throng the flower show, with the maximum rush on the weekends.  
          07 Reasons for a Digital Banking Partner: -
01)  Differential ticket pricing for normal and week ends
02) Differential ticket pricing for kids and adults
03) 100 + shops selling organic produce, jams, pickles, handicrafts
04) 50+ refreshment stalls spread over the garden selling cut fruits, fruit juice, bhel puri etc
05) Parking fees for 4 wheelers
06) Opportunity to introduce basic banking to school children
07) Focussed branding opportunities for banks.

The way ahead:
          No tenders will be called, the Relationship Managers of interested banks can contact on the following addresses:-
The Directorate of Horticulture - Lalbagh, Bangalore-560004.
 Karnataka State, India. Phone: +91 80 26571925 Fax: +91 80 26578072 

The Deputy Director of Horticulture (Gardens)   - Lalbagh, Bangalore-560004.
Karnataka State, India. Phone:  +91 80 26578184

  • ·       No major visible challenges once the Government department is on boarded
  • ·       Majority of the vendors will be having bank accounts, so only a minimal number of vendors will be required to be on boarded into the banking channel
  • ·       mPOS/POS terminals cost, as the business period is only for 10 days.

Audio compass article on the Lalbagh Flower Show

School children visit to Lalbagh Flower Show

What can be offered:

01)  Online ticket sales platform.
02) Limited edition Debit cards embossed with  Lalbagh images.
03) Limited edition Debit cards embossed with Lalbagh  flower show theme.
04) Double reward points for shopping with debit cards in the Lalbagh garden area.

05) Special preview facilities for tickets brought through online platform.

Saturday, October 31, 2015

Mouth-Watering INR 54,000 crores (USD826.10 crores) can be routed through ePayments!!

          As on date, Mobile operators in India have to adhere to the below TRAI guidelines, with effect from 01/01/2016:-

16. Measures to provide relief to consumers. - Every originating service provider providing Cellular
Mobile Telephone Service shall, for each call drop within its network,
(a) Credit the account of the calling consumer by one rupee:
Provided that such credit in the account of the calling consumer shall be limited to three dropped calls in a day (00:00:00 hours to 23:59:59 hours);
(b) Provide the calling consumer, through SMS/USSD message, within four hours of the occurrence of call drop, the details of amount credited in his account; and (c) in case of post-paid consumers, provide the details of the credit in the next bill.”

          Negotiations between the Mobile Operators and TRAI have commenced and any amendments if any will be released shortly.

          One of the paragraph in the letter to TRAI states as under: “The annual industry compensation due to dropped calls may range from 10,000 crore in case 10 per cent of subscribers claim compensation to 54,000 crore in case 50 per cent of subscribers claim the same. This amount would represent up to 37 per cent of the industry’s annualised adjusted gross revenue in case of 50 per cent claims,” .

          As per rough estimates the ratio between Prepaid and PostPaid connections is 80:20.

          This 80:20 ratio translates into a huge opportunity for Safe eTransactions to be popularised.

          As per TRAI guidelines, the monetary compensation for ‘call drop’, has to be credited to the subscribers account i.e SIM.

          To increase the banking penetration in India, the option of routing such credits to the Jan Dhan Bank Accounts/Pre Paid Instruments (eWallets/Mobile Wallets) of the subscribers should be explored.

          7 Benefits of routing the ‘Call Drop’, compensations to Jan Dhan Bank Accounts/Pre Paid Instruments (eWallets/Mobile Wallets) :

01)  Encourage MSB to open bank accounts/eWallets
02) Increase the footprint of banking in country
03) Encourage other government agencies to route transactions to the linked Jan Dhan/eWallets
04) Establish an verifiable audit trial
05) Introduce Safe eBanking channels to MSB
06) A readymade data base for Payment Banks to tap as and when their networks are ready
07) Minimise complaints of non-receipt of compensation  

Sunday, October 4, 2015

Reserve Bank of India releases the List of entities eligible for DEA Fund

          The Reserve Bank of India on 1st October 2015, released the names of 20 entities that have been approved by the DEA Fund Committee for registration for seeking grant of financial assistance from the Depositor Education and Awareness Fund.

Reserve Bank of India on 9th January 2015, had called for applications from eligible persons for registration.

RBI received 90 applicants and these 20 entities were finally selected.

There was a multiple selection process which involved a scrutiny by an internal team of the Reserve Bank followed by an assessment of the applications by the DEA Fund Committee, which inter alia has three external members.

The applicants have been selected on the basis of their meeting the minimum eligibility criteria, track record and evaluation of the work done by them in the field of depositor education, consumer awareness, consumer protection, etc.

Reserve Bank will shortly issue a notification calling for fresh applications for registration under the scheme.

The names of the 20 entities are:

Sl No. Names of the Registered Entities

1.        Vasantha Lakshmi Charitable Trust & Research Centre, Nellore, Andhra Pradesh
2.        Society for Social Transformation, A.P.
3.        Voluntary Organisation in Interest of Consumer Education Society, New Delhi
4.        Progressive Action for Community Emancipation (PACE), Chittoor, Andhra Pradesh
5.        International Network of Alternative Financial Institutions-India, Madurai
6.        SAMARPIT- Centre for Poverty Alleviation and Social Research, Bilaspur
7.        Voluntary Integrated Development Society, A.P.
8.        Initiatives for Development Foundation, Bengaluru
9.        MOTHER, Bhubaneswar
10.      Genesis Academy of Banking & Finance Education Trust, Mumbai
11.       MONEYLIFE Foundation, Mumbai
12.      ASSLS Organization, A.P.
13.      Consumer Education and Research Society, Ahmedabad
14.      Consumer Unity & Trust Society (CUTS), Jaipur
15.      Indian School of Microfinance for Women, Ahmedabad
16.      Swadhaar Finaccess, Mumbai
17.      Xavier Labour Relations Institute (XLRI), Jamshedpur
18.      Aparajita Mahila Sangh, Indore
19.      Priyasakhi Mahila Sangh, Indore

20.      DHAN Foundation, Madurai

Monday, September 28, 2015

11 wonderful features of Tata Sky+ ‘Transfer’

              This post is inspired by Indiblog contest on Tata Sky+ ‘Transfer’

01)   The Transferkars family will encourage you to switch to Tata Sky DTH Service.

02)   This Tata Sky YouTube advertisement will teach you the values of Team Work.

03)   The ‘seamless SERIES RECORDING’ feature will enable you to see your favourite TV Shows back-to-back

04)   The’ KARAOKE’ feature will enable you to awaken the singer in you.

05)   The HD recording feature will enable you to view your favourite in rich true colours.

06)   The ‘500 GB Hard disk’ capacity ensure that you can store lots of content without fear of space.

07)   The ‘Rewind.Forward.Pause’ enables you to view your favourite scene multiple times from multiple angles.

08)   The ‘1080i High Definition’ feature enables you to enjoy the beauty of nature straight in your home.

09)   The ‘Dolby Digital Surround Sound’, enables you to enjoy the music to the fullest aspect

10)   All this is possible without Mobile Data Charges

What more do you require?


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