RBI's new guidelines have given the domestic scheduled commercial banks a big fillip in their branch opening plans. As per the new guidelines, domestic scheduled commercial banks do not need explicit permission(license) to open new branches in cities with less than 50,000 population.
what this means for some of the banks
- PNB can open 440 more branches this year without bothering about RBI approval
- UCO plans to open 140 branches this year but would need licenses for only 89

Clearly, RBI wants the financial system to reach smaller towns & cities and this would be a big step in that direction.

NFS (national financial switch) which manages more than 50,000ATMs and handles more than 2.5 million transactions per day has decided to bring down the per transaction fee to 80 paise.
This amount was initially suggested at 100paise but most participating banks had protested indicating that it was way too high. Even now the transaction fee is much higher than other networks and it would put a strain on the CASA books of most banks.

As per Indian Bank’s Association new guidelines- Days of free ATM usage came to an end on October 15. From now on any transaction that you do on another bank’s ATM would cost you anywhere around Rs 20 . Also withdrawals will face a limit of Rs 10,000.

The guidelines, also recommend that the banks can offer
- savings-account holders 5 free 3rd party withdrawals every month and charge from the 6th transaction onwards.
- Current account holders can be charged the fees, which ranges from Rs 18 to Rs 20, from the very first transaction.

Axis Bank, which has the third largest ATM network in the country, has decided to not charge any customer for third-party withdrawals. A part of the bank’s strategy to attract low-cost current account and savings account (CASA) customers.

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Singapore Airlines with ICICI Bank have now launched a co-branded credit card- ICICI Bank Singapore Airlines Visa Platinum card in India. Singapore airlines, a south east Asian airline has launched a credit card first time in India.

Once you apply for a loan and fill in the form , the bank normally gives you two options to make a repayment either through (electronic clearing systems ) ECS or a cheque payment. Customers normally choose an ECS payment as it is hassle free. An ECS payment is done by the bank . It is a transfer of payment from one bank to another without the involvement of the customer.

We may miss our loan repayment at times due to unavoidable circumstances , like an unexpected medical expense may come up, loss of job , or any other unforeseen situation. Due to this default our credit rating gets affected. And in future availing of any kind of loan or credit card can be difficult.

As a Credit card Holder,
What is your Responsibility.

While Applying a Credit Card.

• An individual should gather complete details regarding the interest rate & other charges levied on credit card from the concerned bank.
• Get full information about the due date & credit fee period.

Safety Guidelines issued by RBI for a credit card consumer

• Firstly, if the issue of a credit card to an individual is declined by the bank, reasons should be traced in writing.

When applying for a credit card following are the details to be noted:-

Protection Plan Launched by HSBC India for Credit card holder

In association with CPP Assistance services, HSBC India launches new protection plan for all Credit Card Holders to control credit card frauds which is now too common in today’s scenarios

Tips to remain away from credit cards frauds

Every one is using a credit card during these days because it’s very convenient to buy anything with credit card & it’s very easy to handle it because it is plastic money. But you may become a victim of credit card fraud .Most people will never experience with this kind of fraud.

Balance Transfer: Is it really attractive?

When in difficult times you are short of means to pay for your credit card bills, paying minimum would give you a breather. Though it may not save you from finding a concrete solution for paying your credit card debt. And soon you may be under a debt trap. On the contrary assuming that paying minimum is a good option, is like digging one's own grave.

Credit Card Can Erode your Wealth

In Today’s Scenario every body is using a Credit Card & they are having almost all the bank Credit cards. Each person, house hold or business man using credit card because its very easy for them to pay their bills through credit cards but they see only one side of the coin they are not aware of the other side of the coin.

Once you receive your credit card, before using it either to make purchases or withdraw cash it is very essential to be aware of the pro and cons of the same. It is seen in many cases - people, after getting a credit card, tend to spend more and get themselves in deep financial trouble.

Your bank loan is not sanctioned?Wonder why?? Because banks are now closely watching your credit history. This applies even if you have defaulted in paying a minimal sum on a loan taken several years ago.

The Credit Card As A Financial Tool

Credit Card is a convenience tool which resolves financial problems in emergencies. It can be a very useful financial tool if used wisely.

What's the first thing you should do if you lose your credit card? Just call up the bank’s 24 hour call centre and deactivate the card. This should take precedence even over your attempt to track your wallet in the lost trail.

Card issuers such as American Express have started taking a closer look at the math that determines how much credit is available to each customer, and some are cutting their credit lines to keep more money in house. Card issuers want to keep default rates as low as possible to protect their profits.

Tough to get a Credit from Bank’s

Working for a finance company or are on the rolls of an airline or small-time realtor and want a new credit card ? Chances are you may not get one. Banks are summarily rejecting credit card applications from people working in these sectors, as the deteriorating financial health of their industries and the economic downturn makes them less credit worthy.

Are you using your credit card as an alternative to loans?

Nowadays availing of a loan could be very simple and the best option to meet your needs. But are we take the loan for the right purpose? This is the right time to ask this question. The interest rates on most floating rate loans, be it home, car or personal, are up by almost 3-4%. On the other hand, cost of living has gone up thanks to rise in inflation.

The Global banker HSBC , announced that it has selected Visa as its brand partner for new consumer debit cards to be issued in about 20 countries, including India.This deal would expand the relationship between two global leaders, HSBC and Visa.
The five-year regional agreement between HSBC and Visa hints at expansion of HSBC's current credit card issuing relationship with Visa.