In wake of spreading Financial inclusion RBI has given licence to 11 companies to start Payment Bank. This payment will reach out far flugh area without physical cash.This Bank will help to reach out lower income Group and help cashless transaction.RBI is in mood to encourage CASH less transaction .
Let's understand what this payment bank will do.
1) Saving Account facility with Intrest
2) Send and Receive money for Migrant Labour
3) Transaction up to 1 lack
4) ATM -cum-Debit card
5) No credit Card facility
6) No Account for NRI
7) Mutual Fund and Insurance.
8) internet Banking

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.

From 1st Janurary LPG subside will get directly credit in consumer bank account ,So it time to verify whether you bank account is connected to Aadhaar  number or not. If you have already submitted Aadhaar number to Bank so please verify using this method. If it dosnet work Please take visit Bank and have inquiry.

To find out whether your Aadhaar  number associated with your bank account or not, the consumer can dial * 99 * 99 # on your mobile dial, next enter the base number of 12 digits and then click OK. If the Aadhaar number is correct to confirm Dial 1. There will be message wheter your aadhar number is connected to any bank account of not.

IF card is connected to bank then there will be message will tell you when your Aadhaar  card number has been link which bank card.

Further I would like to inform you since it is NUUP (National Unified USSD Platform) based service  I am not sure whether all Mobile opertor will have this facility .To know which Operator currentlky support NUUP (National Unified USSD Platform) visit this link http://www.npci.org.in/pro_pb.aspx

 Five important features of the PM Jan Dhan Yojna

1. Under the scheme, account holders will be provided zero-balance bank account with RuPay debit card, in addition to accidental insurance cover of Rs 1 lakh.

2. Those who open accounts by January 26, 2015 over and above the the Rs 1 lakh accident, they will be given life insurance cover of Rs 30,000.

3. Six months of opening of the bank account, holders can avail Rs 5,000 loan from the bank.

4. With the introduction of new technology introduced by National Payments Corporation of India (NPCI), a person can transfer funds, check balance through a normal phone which was earlier limited only to smart phones so far.

5. Mobile banking for the poor would be available through National Unified USSD Platform (NUUP) for which all banks and mobile companies have come together.

According to latest RBI guideline A bank account can be opened with just one address proof, permanent or local.This will help migrant workers and employees with transferable jobs who at present face cumbersome procedure to access banking services.
A customers can submit only one documentary proof of address (either current or permanent).
If the address mentioned as per 'proof of address' undergoes a change, fresh proof of address may be submitted to the branch within a period of six months.
In cases where customer is not able to furnish local proof of address, the bank may take a declaration of the local address on which all correspondence will be made by the bank with the customer, it said.
"No proof is required to be submitted for such address for correspondence/local address. This address may be verified by bank through positive confirmation such as acknowledgment of receipt of letter, cheque books, ATM cards, telephonic conversation.
If there is a change in address, customer may intimate the new address for correspondence to the bank within two weeks of such a change.

Recently Syndicate bank is also on same path of providing better customer service by providing miss call balance enquiry. You can miss call to  09664552255 or  08067006979  from registered mobile number to get balance information.If you are not registered for this service then please follow this simple step

Procedure for Registration
1. Customer should register himself/herself (onetime) for SMSBanking by sending an
SMS to 09664552255 from his/her Registered Mobile Number available in Bank’s
System. The SMS format should be -
SREG <<Cust-ID>
e.g., If your Customer Id is 12345678,
send SMS “SREG 12345678” to 09664552255
(This is a one-time activity. If already registered earlier by using 56767, there is no
need to register again)
 2. Customer will get a confirmation Message for the above step
(In the Bank’s System, the latest CASA Account-No. linked to the Customer Id will
be registered as the Default Account-No. for Missed Call Banking)
3. Once confirmation is received, Customer can give a missed call to 09664552255 or  08067006979
The call made will get automatically cut after one or two rings.
4. Customer will then receive an SMS mentioning the outstanding balance for the
Default Account-No.
 5. If the Customer has more than one account and wants to change the Account
Number for which he/she wants to know the balance, he/she can change the
Default Account-No. by sending another SMS to 09664552255 with the below
format –
SACC <CustID> <Account-No>
e.g., If your Customer Id is 12345678 and want to change the Account
Number for getting balance to 03219870006541,
send SMS “SACC 12345678 03219870006541” to 09664552255
(This is a one-time activity and customer will get balance for this account on giving
Missed Call, till he/she changes the account again)

For more info you can Helpdesk at 1800-425-5784 or write to syndinet@syndicatebank.co.in

Credit card/Debit card numbers means a lot . Let explore this .A credit card or debit card can anywhere from twelve to nineteen digits long. Most credit cards/debit card consist of sixteen numbers.

The First Digit ( It is called a Major Industry Identifier)

    1 and 2 are Airline cards
    3 – Travel and Entertainment
 ex. Amex
    4, 5 – Banking and Financial
    ex. Visa, Mastercard
    6 – Merchandising and Banking
    ex. Discover, Diners Club
    7 – Petroleum
    8 – Telecom
    9 – Misc.

Digits 2 to 6 (Issuer ID)

Although all Visa cards start with the number 4, the following 5 digits indicate which bank that issued the Visa card. Mastercards start with 5, Discover starts with 6. You’ll notice that some websites don’t ask you what type of card you have — they obviously know what the digits on the card mean.

Digits 7to 15 (Account ID)

The unique number that identifies your account

Digit 16 (Checksum)

This single digit is one of the most important ones on the card. Much like the last digit of a barcode, the sole purpose of this digit is to allow validation of the rest of the number. In other words, there is a mathematical relationship between the numbers on the card, so if the number is entered incorrectly, the card validator system can indicate the card number was entered incorrectly.

1) Sale/purchase of motor vehicle

2) Sale/purchase of any immovable property of Rs. 5 Lacs or more

3) Deposit exceeding Rs. 50,000/ - in any post office

4) Fixed Deposit exceeding Rs. 50,000/- in any bank

5) Sale/purchase of Securities exceeding Rs. 1,00,000/-

6) Opening an Account with any Bank

7) Application for a telephone connection (including a mobile telephone connection)

8) Payment to hotels and restaurants against their bills for an amount exceeding Rs. 25,000/- at any one time

9) Payment in cash for purchase of bank drafts or pay orders or banker's cheques for an amount aggregating Rs. 50,000/- or more during any one day

10) Cash deposit in cash aggregating Rs. 50,000/- or more, with a banking company during any one day

11) Payment in cash for any foreign country travel exceeding Rs. 25,000/- at any one time.

12) Application to any bank for issue of a credit or debit card;

13) Payment of an amount of Rs. 50,000/- or more to a Mutual Fund for purchase of its units

14) Payment of an amount of Rs. 50,000/- or more to a company for acquiring shares issued by it

15) Payment of an amount of Rs. 50,000/-or more to a company or an institution for acquiring debentures or bonds issued by it

16) Payment of an amount of Rs. 50,000/- or more to the Reserve Bank of India, for acquiring bonds issued by it

17) Payment of an amount aggregating Rs. 50000/- or more or more in a year as life insurance premium

18) Payment to a dealer for purchase of bullion or jewellery, of an amount of Rs. 5 Lacs or more at any time


If any person does not have PAN No., he/she need to file declaration Form No. 60 for such transaction. Hence, your every transaction can be tracked down by the department.

As per the notice issued by RBI date Dec 19 ,2012 No Introduction From Existing Account Holder Required Earlier to pen a bank account at new place customer require Introduction from existing customer to that bank .RBI has recently issued a notification and relaxed the condition of introduction by other another customer and now no need to provided introduction by other customer any more. The RBI has, hence, completely done away with this requirement and has specified that banks should not insist on introduction for opening bank accounts of customers.

As of now, banks have been insisting on two separate sets as documents for identity and address proof as per the RBI guidelines despite the fact that documents for identity proof (Passport, PAN Card, Drivers’ Licence etc.) also carry the address of the individual concerned.

This is set to change. As per the latest RBI notification, if the address on the document submitted for identity proof by the prospective customer is same as that declared by him/her in the account opening form, the document may be accepted as a valid proof of both identity and address.

For more info about this Notification by RBI .Please click this

Now Punjab national bank customer can get account balance from saving account using miss call.Customer can give miss call on  1800 180 2222 or 0120-2490000 from their registered mobile number.Disconnect the call within three rings so as to prevent from connecting to Customer care. Savings account balance will be sent as SMS

ICICI bank has came with innovative idea to its customer to get their account balance using missed call from register mobile. Customer who has registered their mobile number they can avail this facility.To get the balance all they need to just give a missed call to 022-30256767 from your registered mobile and receive a SMS.

The idea seem very innovative because as of now most of bank charge premium SMS rate for SMS banking which is very much costly from Rs 3 to Rs 5 per query.With this idea ICICI bank has at least managed to reduced SMS call charge to its customer. Hope such facility will be provided by other bank. Try this and post the comment.