Rush to this Bank ATM now – Rush

            Innovative ideas are important to stand above the crowd. Indian bank customers have plenty of ATMs to complete their banking transactions.

            The more the number of customers transact at an ATM, the less is the operating cost.

            Here are 8 compelling reasons to visit your nearest Yes Bank ATM

01) Network of 1,000 + ATMs

02)First of its kind rewards program in India - Discounts and deals are offered to anyone who transacts at the Bank’s ATMs.

03)Do not believe, okay visit the Press Release section on Yes Bank website

04)The discounts and deals at Yes Bank ATMs are available for Yes Bank customers as well as Non-Yes Bank customers

05)YES BANK account holders get the rewards on cash withdrawal and funds transfer transactions

06)Non-YES BANK accountholders get the rewards on only cash withdrawal transactions.

07)Booking of Fixed Deposits at Yes Bank ATMs is quick and easy

08)NPCIs  Card to Card Transfer mode at its ATMs is another welcome feature

Live your comments on Yes Bank’s FB Page

PMJDY RuPay Cards – The delivery race has begun

            As per reports appearing in the media, over the last couple of weeks, 1.5crs – 4 crs  banks accounts have been opened under PMJDY scheme in all bank branches in India.

            As the Accidental Insurance of INR 1lac is dependent on usage of RuPay Cards, the account holders are eagerly waiting to receive the RuPay card in their hands.

            The stupendous success of PMJDY in a short time has raised the delivery bar for NPCI as well as the respective Banks.

            To shorten the TAT for delivery of PMJDY RuPay Cards and to ensure that quality of RuPay Cards /  Holograms is maintained throughout the program, NPCI has announced a common RFQ (Request for Quote) covering the major 7 aspects of PMJDY program.

            The chief objective of this common RFP is to enable individual banks to place orders with the chosen vendors by avoiding the tendering process.

            Through this common RFQ, NPCI shall select all such empanelled vendors for supplying Personalised RuPay Debit Cards under uniform card design as prescribed under Pradhan Mantri Jan Dhan Yojna (PMJDY)

It is expected that over 50 million RuPay cards would need to be provided by Banks to the first time account holders under the program. Yes, at present the exact number of required cards is an unknown factor.

This poses unique challenges to the vendors, as they have to bid only on minimal data.  

            

Rashtrapati Bhavan – India’s first Financially Inclusive Township (FIT)

            Around 500 people reside in India’s President’s Estate i.e Rashtrapati Bhavan. To raise the bar of financial inclusion in our country, Rashtrapati Bhavan today launched a new campaign to turn the RP into a Financially Inclusive Township (FIT)

What are the components of a Financially Inclusive Township (FIT)?

01) All the residents have an operative bank account

02)The residents are aware of the various financial tools

03)The residents are aware of Safe eBanking procedures

The campaign’s target is complete the financial inclusion of all residents and contractual workers of the President’s Estate numbering around 5000 by middle of December.

The campaign will include:-

01) A financial literacy programme and creation of a financial literacy hub at the Dr. Rajendra Prasad Sarvodaya Vidyalaya within Rashtrapati Bhavan for the students, their families as well as all residents of the President’s Estate.

02)Enrolling all residents in UIDAI’s Aadhar scheme.

03)Opening of Saving Bank Accounts for the unbanked under the Pradhanmantri Jan Dhan Yojana.

04)Enrolment of people in ‘Swavalamban’, - a special scheme of the Pension Fund Regulatory and Development Authority for those belonging to the unorganized sector.

05)Issue of RuPay Cards to new as well as existing account holders of the United Bank of India within the Estate.

This pilot project is intended to establish a model of convergence in government programmes and services to ensure that benefits of various schemes accrue to all residents of the President’s Estate.

Special attention will be given to senior citizens, women, and special children in the President’s Estate.

Not only regular residents, but the contractual workers working in the President’s Estate will also be guided to obtain all possible benefits that are due to them.

In the near future, residents of the President’s Estate will also be provided benefits under the Rashtriya Swasthya Bima Yojana (RSBY) and pension benefits to young widows, disabled etc.

A two day financial literacy-cum-inclusion camp for residents of the President’s Estate was inaugurated today (September 27, 2014) by Secretary to the President Mrs. Omita Paul to mark launch of the campaign.

Rashtrapati Bhavan Officials in collaboration with officials of the United Bank of India, National Payment Corporation of India (NPCI), Pension Fund Regulatory and Development Authority (PFRDA) and SBI worked through the day to enrol residents of the President’s Estate in various schemes.

As United Bank of India, has a branch in the President’s Estate, the honor of playing a pivotal role in the FIT plan was bestowed  on them.

The President’s Estate Branch of United Bank of India was established on February 28, 1976 and inaugurated by the then President of India, Late Dr. Fakhruddin Ali Ahmed

The President of India, Shri Pranab Mukherjee inaugurated the President’s Estate Branch of United Bank of India and Rashtrapati Bhavan Post Office in their new buildings on July 24, 2014.

State Bank of India IRATA – The safest way to activate an Online Beneficiary

            To minimize internet banking frauds, majority of the Banks have a cooling period before funds can be remitted to a new beneficiary through net banking.

            A balance between safety and customer delight can increase the inte

rnet banking volumes.

            Towards this end, State Bank of India has introduced the IRATA mode.

            The IRATA mode was introduced in April 2014, however at present it is being marketed extensively.

The full form of IRATA is “Internet Banking Request Approval Through ATM”.

The full limits of INR5.00lacs can be enjoyed instantly, if the newly added third party beneficiary is approved through the IRATA mode.

This facility can be availed through a very simple process. Just select the option Approval through ATM (IRATA) at the time of approval of beneficiary in the online sbi module and proceed accordingly.

The principles of 3 factor authentication are applied in IRATA:-

Factor 1 – What you have (ATM Card)

Factor 2 – What you know (ATM Password)

Factor 3 – What you know (10-digit INB reference number)

Another beneficiary for the SBI group is the higher utilization rate for its ATMs.

            

Give a Missed Call and know it all – UCO Bank

            UCO Bank has noticed that majority of the time spent by its Call Centre/Customer Executives is dedicated to inform customers regarding their account balances or last few transations.

            To reduce the response TAT and also to free up their staff time, UCO Bank introduced the ‘Missed Call’, feature.

            There are dedicated numbers for Account Balance and Mini Statement. As this is a Missed Call facility, no charges are debited to the customer phone account or bank account.

            So, UCO Bank customers go ahead and bank in peace.

UCO Bank was founded in 1943, and was first conceived of by Mr. G.D Birla, the doyen of Indian Industrial renaissance, after the historic "Quit India" movement in 1942. Soon this nascent idea came into reality and, on the 6th of January 1943, The United Commercial Bank Ltd. was born with its Registered and Head Office at Kolkata.

In the first phase of Bank nationalization, the Bank was nationalized by the Government of India on the 19th July 1969 whereupon 100 per cent ownership was taken over by the government in UNITED COMMERCIAL BANK.

            In 1985, the name was changed from ‘The United Commercial Bank Ltd.,’ to ‘UCO Bank’.

            To take advantage of the Durga Puja shopping spree, UCO Bank,signed a net-banking agreement with “CCAvenue” – one of the largest payment gateway providers.

            The major benefit of this tie-up is the facility to UCO Bank customers to shop online across various websites that are powered by “CCAvenue.com”.

Payments can be made directly through the bank’s debit card.