You might have to pay more for
your transactions at ATMs in the new year. Bankers have proposed a reduction in
the number of free ATM transaction a month to five — irrespective of whether you
are transacting at ATMs of your own bank or those of other lenders. At present,
there is no cap on free transactions at own-bank ATMs, while customers can use
other banks’ machines up to five times a month without any extra cost. And,
there’s more. Bankers have also proposed to a working group on ATM security that
the rate for each ATM transaction (interchange fee or charge) be raised from Rs
15 to Rs 18. Interchange fee implies a charge paid by a bank to another for
acceptance of card-based transactions. Usually, it’s a fee that a merchant’s
bank (the ‘acquiring bank’) pays a customer’s bank (the ‘issuing bank’).
Jan 2, 2014
New CMD for Vijaya Bank
V. Kannan has taken charge as
Chairman and Managing Director (CMD) of Vijaya Bank. He took charge from H.S.
Upendra Kamath, who has demitted the office of CMD on attaining superannuation
on December 31, 2013.
New CMD for Vijaya Bank
V. Kannan has taken charge as
Chairman and Managing Director (CMD) of Vijaya Bank. He took charge from H.S.
Upendra Kamath, who has demitted the office of CMD on attaining superannuation
on December 31, 2013.
Email instructions not to be followed
While encouraging customers to
make use of Net banking facility, banks have started to voice their anxiety over
rising Internet-related frauds. For instance, State Bank of India recently
issued a circular asking its branches “not to carry out any financial
transactions requested by NRI customers through e-mail, even if the request is
made by a letter scanned as an attachment.” The branches have since stopped
entertaining requests from NRI customers. “Not only are the customers at a loss,
but the bank is also losing business. The circular follows instances of fraud
brought to the notice of the bank based on instructions received from registered
email IDs of NRI customers. “There have been cases of accountholders disputing
the transactions subsequently.”
Syndicate Bank emblem colour
Syndicate Bank has changed the colour scheme of its emblem from new year . The new emblem is as above
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