Thursday, January 29, 2015

mRUPEE lanuched Prepaid card for Payment

Tata group company  launched a  VISA-powered prepaid card in partnership with Ratnakar Bank (RBL).
with this  PaySmart card, mRUPEE customers will be able to withdraw money from VISA-licensed ATMs and also pay for goods and services at all merchants that accept VISA debit or credit cards nationally, the company in a statement said.

This service would offer convenience to those who do not have a bank account and hence are not able to participate in the mainstream economy.The minimum money value the PAY Smart card will hold is Rs 200 rupees while the maximum value is kept at Rs 1-lakh at any point in time.

What is mRupee?

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Soon Revolution in Banking from Mobile Store

Modi government has strives towards providing banking facilities to all sections of society, especially the poor and disadvantaged sections. Under this effort, the government launched the country's public-funding scheme, now mobile shops, petrol pumps and shops located on the corners of the streets, helping people reach the door is banking.

The name of the new payment system of banking is PAYMENT BANK which is away from traditional financial institutions.Under this scheme Mobile stores, fuel centers and corner stores will permit you to provide banking services.

RBI's move shows that the traditional bank PM Narendra Modi alone can not meet the objective of financial inclusion. 11 million new bank accounts were opened under Jan Dhan yojana, However, the concern is that these out of 11 million account , 8 million accounts is not having money in the accounts.
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Monday, January 19, 2015

ICICI bank customer can send Money by Twitter account

Customers of ICICI Bank can use their Twitter account for real-time fund transfers, prepaid mobile recharges and to check bank balance.ICICI Bank has launched a facility which allows account-holders to transfer funds through Twitter.The user will have to subscribe (follow) the bank's Twitter handle and register for the facility.
For fund transfer, the sender needs to know the beneficiary's Twitter handle. The sender will get an SMS with a unique code after the transfer; the beneficiary would need to enter it on the special webpage where he/she would be directed, to complete the transaction.
It uses NEFT (National Electronic Funds Transfer) or RTGS (Real Time Gross Settlement) for the transfer and will soon be integrating IMPS (Immediate Payment Service) mode too.
Sender will have to pay the fees as applicable for a NEFT or RTGS transaction.

Beneficiaries who have account with another bank will have to put in that bank's IFSC code to receive the payment.


Monday, January 12, 2015

At Last Top Indian Bank SBI Started Miss call Balance Alert Facility

Much awaited customer facility and must praised customer facility for Miss call balance facility for SBI customer has came

Now SBI customer can also know their Bank account balance via Registered Mobile

Follow this step to get this facility

To register send SMS "REG<SPACE>Account Number to 09223488888
To deregister send SMS "DREG<SPACE>Account number to 09223488888

To receive Balanace give missed call or SMS "BAL" to 09223766666
To receive Mini Statement Give miss call or SMS MSTMT to 09223866666
There is two different number for balance inquiry and statement.

For help regarding this serice you can send SMS as HELP to 09223488888

Most of bank have already started this service much earlier but I don't understand being BIG brand in Banking and having maximum Branch /ATM with maximum customer they have implemented this so late. However SBI is known for its better customer service in terms of Technology.
Please do write your comment about this service.