Tag: India

SBI to bring in green-channel banking

The State Bank of India is set to introduce green-channel banking to promote paperless work and reduce footfall of customers in the already over-burdened ATMs and branches. p>

SBI general manager for network-I D Mozumdar said here on Saturday that apart from regular counters, a new counter was being opened in which customers could swipe their ATM cards and enter the pin code to receive cash from the person manning the counter. “In this way, there will be no requirement for paperwork and the process of money withdrawal will be fast,” he said.

Under the financial inclusion scheme of the Reserve Bank of India, SBI has been asked to take up responsibilities in 43 of the 156 “under-banked” blocks of the state, besides extending banking facilities to 408 villages having a population of over 2,000 people. Mozumdar said SBI would connect 200 villages by March this year through different banking techniques. “We do not require brick and mortar branches these days to extend banking facilities because technology has made the work easier and SBI is fortunate to have all the modern banking technology,” he said.

All 200 villages where SBI is planning to launch services by March will be on technology platform that includes micro-ATM or mobile-based banking in which the customers having a mobile phone can access his or her account through the cell phone and bio-metric smart cards by which a user is identified on a hand-held machine through finger prints. Business correspondents appointed by bank will also disburse cash along with printed receipts and through kiosk-mode in which the bank provides a laptop with face-reading and voice-recognition software to enable transactions.

The Revolutionary Concept of Cord blood banking is making life better

The concept of cord blood banking can be considered a boon to mankind. Placenta and umbilical cord that used to be discarded by doctors after delivery has now become a lifesaver. These organs are said to have a lot of potential and the cord blood stem cells collected from them can treat several pediatric disorders.

Disorders that can be cured with cord blood:

There are several disorders that can be cured if you decide to get your baby’s cord blood stem cells stored after delivery. Some of them include: Multiple Sclerosis Stroke Cerebral Palsy Spinal Cord Injury Beta – Thalassemia Cardiac Diseases Diabetes Parkinson’s Disease Renal Cell Carcinoma Acute/ Chronic Leukemia Plasma Cell disorders Alzheimer’s disease Renal Cell Carcinoma

Procedure of cord blood banking:

Baby or the mother will not experience any pain during the collection of cord blood. The procedure is safe and it just requires few minutes. Once the baby is born and the umbilical cord is clamped and cut, cord blood is collected immediately. A special bag is used for storage.

What are the benefits of cord blood banking?

There is no doubt that the process of banking the cord blood is expensive but if you look at it as an insurance of investment for your child’s future, the cost won’t matter. There are many children all over the world who suffer from lymphoma, leukemia, thalassemia, sickle cell diseases and other disorders that can be treated with cord blood transplant. All these kids can be cured if cord blood stem cells were stored during their birth.

How expensive is cord blood banking:

There are many families that cannot afford to pay for banking cord blood stem cells. Private banking is high in rates since the storage procedure is complex. Cost is one of the main concerns that stops many families from benefiting from cord blood banking. A lot depends on the type of cord blood bank you have chosen. For instance, StemOne is one of the leading cord blood banks in India that has been successful in offering this service to many families since 2005. You can contact the bank for their rates and more information about their services.

So, if you really want to make sure that your child’s health is secure after his birth, take the pain of finding more information on cord blood banking.

Author Bio: Indrajit Roy is the business development head of StemOne, India. He has a bachelors degree in molecular biology and been actively involved in this field for several years. He likes to share ideas and recent developments in the field of stem cell treatment and cord blood banking through writing.

Banking jobs considered secure job during recession period

If one becomes an investment banker, then one will always have to deal with money. The important criterions for investment banking jobs are managing money, investing money, and also trading money by means of bonds. With the proper training of business, one may find a position for oneself in this type of money market. For investment banking jobs one should search for bigger type of companies situated in financial capital of globe to seek one-s position in the reputed ones. Companies like Merrill Lynch and many other reputed names comprise this sector, those of which extends investment services for the big type clients like governments and multinational corporations.

One should concentrate one-s job searching endeavour for the investment banks of regional nature that conducts their business in the middle markets. One-s skills as the investment banker can be utilized in these types of jobs in a small degree, in the form of assisting investors individually and guiding small businesses advancing financially. One should contemplate for job searching for some boutique firms to work in favour of one if one has specialized type of interest like financial analysis or bond trading. These types of firms are smaller in type and extend very specialized nature of services so that one-s capability suits the job type precisely prior to one-s submitting of application. For being conversant with investment banking jobs, one should utilize published resources from reputed institutions of financial education like Harvard Business School for identifying firms in which one may like to work.

One of the main features of international banking jobs is Offshore Banking. In offshore banking clients are helped to perform financial transactions by means of bank accounts of corporate both confidentially and securely outside the country of incorporation or residence. If prepared in right manner, clients are benefitted legally from international banking of tax exemption. Offshore banking is secure, reliable and stable. In addition, an offshore bank account in Hong Kong and Singapore have good image. Clients contemplating offshore banking with corporate type of bank account become benefitted by way of adequate protection in case of instability.

India is being projected as the next economic superpower immediately after United States and China. India has always been major investment destinations from abroad and it has turned into most attractive market having high potential. Many multinational companies showed great interests for setting up their businesses in India because of multifarious opportunities. Presences of large number of industries ensure more employments for the job seekers at different sectors among which Banking industry is certainly a vital sector. For the last few decades, India is showing tremendous improvements in the perspective of its GDP growth and overall economic situations and for this reason Banking sectors have made great contributions to achieve this feat. Owing to this reason, scope for banking jobs in India has increased manifold.

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Career Leads of Banking Tasks in India

The functions of the bank and one of the most sought after jobs in India. Good wages and benefits package supplements, and job security, as well as the scope is very good for the growth are the main reasons for a large number of young Indians began to gravitate to this lucrative career. Despite a career in the banking sector can appear to be intended for graduates of trade or finance, but does not apply in the modern era. At present, banks provide equal opportunities for all graduates of the streams.

India is one of the fastest growing economies in the world with a growth rate of 8-10% per year. This has resulted in economic growth in the various career opportunities in public sector banks, private banks and multinational banks based in India. Today, we can note that the banks in real estate loans, consumer loans, investment funds, credit cards and business activities of foreign exchange. Each bank has been growing rapidly in India with a huge 30-40% growth in the year and all of them centrally organized by the Reserve Bank of India (RBI). As a result of a decade of the Reserve Bank to all banks and financial institutions in India including public sector banks and private sectors alike are not only highly profitable but also very stable.

These factors have led also to the stability of a large bank in jobs as well as high demand for banking professionals. Banks are looking for professionals having good communication skills, analysis skills, project loans, and skill of management along with good computer literacy. Public sector banks conduct recruitment drives in the form of a written test and interviews at all levels of India. If you look at any of the advertising campaign to recruit any nationalized bank, you can see that there are opportunities for students to pass 12TH with some computer knowledge at the level of the clergy. There is also a general banking (probation officers) and the function of any graduates and administrative functions, especially in the field of information technology, finance and law practices and operational functions of marketing, preferably an MBA in marketing. Even if someone joins at junior level (the clergy) can last up to senior positions with experience and education in promoting rehabilitation. Public sector banks to pay around Rs.6000 / – to Rs.8000 / – per month basic salary at junior level and Rs.25, / 000 – to Rs.30, 000 / – at a high level.

Earlier banks used to transfer training to aspiring professionals through the institution called the National School of Banking. Used to prepare students for exams at the national level banks. Now, days later, runs the same work by the Institute of Banking staff selection. You can visit ibps.in for more details. Also can be sites like bankbpo.in help prepare for exams, as well as interviews. Solution leaves the question of past examination questions and an interview published by the candidates themselves large are very helpful in addressing the success of the recruitment process.

Examinations of banking in India is usually in stock – 1. The ability to think, 2. Arithmetic and tests digital, 3. General knowledge and 4. English knowledge. Apart from this common stock, depending on the nature of this task, you can insert additional sheets of computer knowledge, finance and law. A major factor in the success of these exams is time management. It is expected that about 225 questions to be solved in about 150 minutes. It is important to divide your time equally to all subjects and not to waste time reading the questions as in the traditional examination papers. Fast decision-making process is one of the key factors and the applicant needs to make a decision immediately on whether to try to resolve the issue, and should also be questions very quickly without spending a lot of time on a particular issue. Short listed students high marks on an equal footing in all subjects on the basis of merit.

So, the career prospects in the banking sector in India in a stable condition, as well as profitable and every candidate must be well prepared for exams in the appointment and functions of the bank.

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What Does Mobile Banking Mean For Retail Customers In India

Mobile banking is a new and exciting way to bank for the customers in India. It not only has the multiple banking operations but also has quite a few support functions. Yet, it hasnt reached across India, as anticipated -RBI suggested. However, the growth in mobile banking in India is extremely encouraging. Here are few facts that will surprise you.

There is more than 7% month-on-month growth in the number of mobile transactions in India. This is based on the monthly transactions by August 2013.
By September 2013, the users have exchanged around Rs. 1565 Cr though the mobile transactions.

Though, the year-on-year growth is phenomenal, it cannot be considered well received when only a small fraction of the Indian banking customers are using it. When you realize the number of functionalities available, it is surprising that more numbers of people are not using it. The banking and allied functionalists available via mobile banking application are:
Locate the nearest branch of the bank via Google maps
Order a new cheque book
Check the status of new cheque book
Transfer funds
Check the balance available in the account
Take the mini-statement of the account
Pay utilities bills, credit card bills, insurance premiums, etc.
Make donations
Top up mobile recharge
The demat account services such as purchasing mutual funds, cancelling transactions, check NAVs, etc.

Arguably, all these services are not available in all the mobile banking apps released by all the banks. There is no sufficient response to the already-launched apps either. The research indicates that the primary reasons for this low-responsive state are:
Compatibility: The existing apps are not compatible with the various types of smartphones available in the market. Though, the smartphone market in India is expanding at the extraordinary rates, it is challenging to identify and release as many versions of the banking applications in the respective app stores. So, all interested customers dont get the app for mobile banking.
Awareness: All the bank customers are not aware of these apps. In spite of the promotions, this information hasnt penetrated down to all the social strata.

With few changes, the growth of smartphone banking in India can go in the high gear. It will become a routine concept. However, there are considerable infrastructure challenges. We still need to overcome them. With the right marketing and information strategy in place, interest and participation in the phone banking operations will reach sky high.