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Financial Knowledge

IDFC Bank using micro-ATMs to make inroads into un-banked areas

As a recent entrant to the world of universal banking, IDFC Bank is trying to change the vocabulary that one associates with the physical reach of the banking industry.Given the advantages that incumbent players have in terms of branch network, it knows that replicating that will take time and cost money. So, if it has

Information Technology
Financial Knowledge

IT spending in banking, securities to reach $7.8 bn in 2017

IT spending by banking and securities firms in India will reach USD 7.8 billion in 2017, an 8.6 per cent rise from 2016, says Gartner Inc. This forecast provides total enterprise IT spending for internal spending and spending on data center, devices, software, IT services and telecom services, Information technology research and advisory company Gartner

India Post
Financial Knowledge

India Post Payments Bank is working on striking synergies with the Post office Savings Bank

The india Post Payments Bank is working on striking synergies with the Post office Savings Bank of the Department of Posts to make sure that its customers don’t look elsewhere for parking deposits exceeding ₹1 lakh. In view of the regulatory restriction that a payments bank will hold a most balance of ₹1lakh per individual

New ‘benami’ Act
Financial Knowledge

New ‘benami’ Act to take effect from Nov. 1

The Benami Transactions (Prohibition) change Act can get force on All Saints’ Day, 2016, the Central Board of Direct Taxes aforementioned on weekday. Following this, the present Benami Transactions (Prohibition) Act are going to be renamed because the Prohibition of Benami Property Transactions Act (PBPT Act). “The PBPT Act defines benami transactions, prohibits them and

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