SBI 'Easy' card payment option

SBI Card announced 'Paycash' payment option for its customers through Easy Bill payment outlets in India. This facility will enable SBI Card customers to make direct cash payment for their outstandings at 3,500 available Easy Bill merchant outlets through out India. This is for the first time a credit card company has introduced a cash payment option.

Kotak Bank’s product for salaried

Kotak Mahindra Bank’s ‘salary 2 wealth’ account has been designed for the present day salaried professional. Launching the product, the bank’s Group Head (Retail Liabilities and Branch Banking), Mr K.V.S. Manian, said the Kotak Salary 2 Wealth proposition would provide the salaried professional an ideal platform to achieve his aspirations by going beyond the vanilla corporate salary account. Besides offering conventional banking service, the Salary 2 Wealth account would provide offerings such as reimbursement account, investment account, demat account with facility to transfer funds (from and to) the linked online trading account provided by Kotak Securities, preferential loans, office banking and many more options.

SBH to make a/c opening simpler

Opening an account with State Bank of Hyderabad branches in the twin cities will be made easier soon. A customer can complete opening of an account within 10 minutes along with an ATM card and cheque book. The bank is in the process of setting up a Liability Centralised Processing Centre (LCPC) to facilitate ‘fast-paced account opening’ for customers in Hyderabad and Secunderabad, Mr R.P. Sinha, Chief General Manger, SBH, said. A customer will be given a temporary ATM card, a booklet of 10 cheques and Pass Book within ten minutes, once LCPC becomes operational,” Mr Sinha said. Within 10 days, a personalised ATM card and cheque book would be sent to the customer. The centre would be opened before December 31. The initiative is a part of the bank’s efforts to mobilise current accounts and savings accounts, he added.

Reliance Money ties up with Corp Bank

Reliance Money, the financial services and distribution arm of the Anil Dhirubhai Ambani Group, announced its tie up with Corporation Bank to offer broking services to the customers and clients of Corporation Bank. Under this agreement, the depository system of Corporation Bank would be linked with Reliance Money’s trading platform and consumers having DP accounts with the Corporation Bank would be able to trade on the Reliance Money Platform. “We expect to add over two lakh demat accounts with this tie up, with our effort focused to get the not-so-savvy semi-urban and rural investor to participate in the stock market,” said Mr Sudip Bandyopadhyay, Director and CEO, Reliance Money. The customers will be offered a free trading account for a year for trading up to Rs 5 lakh.