Page 16 - Banking
IDFC Bank snaps up Grama Vidiyal Microfinance
This is a first-of-its-kind transaction where a bank has taken over a microfinance institution (MFI) and made it a subsidiary
 "IDFC Bank snaps up Grama Vidiyal Microfinance")
CVC calls for foolproof system to verify bank customers' data
The banks, at present, do not have an online facility to verify the documents given to them
 "CVC calls for foolproof system to verify bank customers' data")
Higher remittances could aid fee income of select banks
Federal Bank, City Union Bank, and South Indian Bank are seen as key beneficiaries
 "Higher remittances could aid fee income of select banks")
Banking: Rajiv Anand
Is it possible to get an add-on international credit card for my daughter, who will be going abroad for higher studies ? What are the options? Yes, it is possible to get an add-on international credit card for your daughter on the basis the internationally accepted credit card issued by your existing bank. Once you complete the Know Your Customer requirement for your daughter, post the bank will issue the card. In fact, with the advent of Chip and Pin technology, the transactions have become far more safe and secure. Alternatively, you can also give your daughter an internationally enabled debit card or a prepaid forex card. These are much better options compared to cash.Can I take a home loan to build a house on a plot in my mother's name? Or should we take a joint loan? Since she is retired, can she get a loan? If the plot is in your mother's name, you should apply for the loan with your mother as a co-borrower, as all property owners are required to be part of the loan structure. H
PSB losses on higher provisioning; will provide more funds: Arun Jaitley
He said PSBs made operating profits of Rs 1.40 lakh crore in 2015-16 indicating that their performance was not as bad as being projected
 "PSB losses on higher provisioning; will provide more funds: Arun Jaitley")
Banking system in the midst of a revolution: Rajan
Central bank looking at exploring more niche banks like custodian banks, wholesale banks and long-term financing banks
 "Banking system in the midst of a revolution: Rajan")
Draw up board approves financial inclusion plans, govt tells banks
Govt has asked banks to make the plans an integral part of their corporate strategies to widen reach of banking services
 "Draw up board approves financial inclusion plans, govt tells banks")
