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One down in private sector Small finance banks offer high interest rates Growing gainfully Holy or unholy? Bottomlines shrink, bad loans rise... What is the priority – mergers or NPA reduction? Anytime banking to anywhere banking Monetary policy continues to adopt dis-inflationary path Banking in Telangana Just 660 days! Target over-ambitious... Smart banking in smart cities Cautious and considerate Drastic decline in asset quality Ferrying digital banking to Lakshadweep Nothing much can happen…. Needed a Banking Atlas Banking overhauling or reorganisation? A bank for women, by women The collaboration suite of cyber criminals Capital base of regional rural banks raised Small finance payment banks... A new development bank rising in the east… Targets continue to be ad hoc Why priority status? Indian customers are tech savvy How okay are new banks? Insatiable appetite for credit The paradox: clamour for the Goliath and David Cut in repo rate – lower than expected Governance in Reverse Gear? All that glitters is not gold... From lazy banking to easy banking Bank deposits account for 46.3 per cent of household savings New bank licences, at last... New capitals of Migrant banks LVB- A supermarket of financial services Big bank merger, bigger expectations Financial inclusion vs unclaimed deposits Reaching out: is it slowing down? How ‘secure’ are the secured loans? Who is the real beneficiary? It’s a war on black money, support it. Two banks: their jubilees and performances Ernakulam excels... Well-lived... Perhaps small is more beautiful than big! Fund healthcare clinics in villages... Another route for achieving financial inclusion Lacklustre credit expansion Aadhaar, niraadhaar and banking Why any time money? Stage set for Indian ‘avatar’ of foreign banks Cradle of banks to a smart city... Grows Bigger A development bank for BRICS Small is ‘more’ beautiful Hesitancy in announcing year-end results Banking on Risk Reaching the Unreached… Good, bad and ugly Drop in SLR- sparing lendable resources Managing NPAs... Too big to fail and too small to sail Greet Lakshmi the banking robot Payment banks have arrived Rationalised Thirty more cities seek to become SMART United India Insurance - Rs 110 crore losses have been claimed till now due to floods in Tamil Nadu Growing volume of stressed assets… Merger mania haunts banks Emerging crisis Mega merger is on
 
LVB- A supermarket of financial services
Lakshmi Vilas Bank (LVB) turned 89 on 3 November 2015. To mark this occasion, the bank had a series of launches. A co-branded credit card with SBI Cards, LVB mobile app and a tie-up with Cigna TTK health insurance to offer health and wellness solutions to its customers were some of the new initiatives.

Incepted in 1928 by V S N Ramalinga Chettiar, LVB is one of the largest private banking entities in the country. With a national presence, the bank has 416 branches and 820 ATMs. The bank registered growth of 21 per cent in deposits and 28 per cent in advances at the end of September 2015. Keeping line with the current generation, the bank is geared to become a supermarket of financial services.   

The LVB-SBI Card will be available in two different formats: SimplySAVE Visa credit card with credit limit up to Rs 2 Lakh per annum and Visa Platinum credit card with a credit limit of Rs 5 Lakh per annum.

These cards will be accepted at two million outlets worldwide and approximately 285,000 outlets in India alone. With this card a user would get fuel surcharge waiver, cash withdrawal, bill pay facility, etc.


Addressing a media gathering, Vijay Jasuja, CEO of SBI Cards said: “we are pleased to partner with LVB and launch the co-branded credit card. It will enhance customer interaction and experience through the use of cutting edge technology.”

With a customer base of more than 3.2 million people, SBI Cards is a joint venture between SBI & GE. About 46 per cent of the customer base is from SBI, around 44 per cent from open market and about 13 per cent from such co-branding partners. SBI Cards is third in the market preceeded by ICICI(2) and HDFC(1). With an aggressive pace to acquire customers, this co-branded partner is expected to bring around 10,000 on-board.

In the backdrop of Digital India initiative of Prime Minister Narendra Modi, LVB unveiled the LVB Mobile, the mobile banking app. The app can be used in Android, Windows and iOS platforms. A customer can perform fund transfer, balance enquiry, bill payment, cheque book request, debit card blocking etc.  

Another initiative launched on the same day was its bancassurance initiative by joining hands with Cigna TTK Health Insurance. Under this scheme, customers of LVB will get benefitted with the health and wellness solutions offered by Cigna TTK.

A J Vidya Sagar, CGM and COO of LVB said: “the bank has also inaugurated Crown Lounge, a specialised boutique for High Net Worth Individual clients at its Cathedral Road branch in Chennai.”

Incepted in 1928 by V S N Ramalinga Chettiar, LVB is one of the largest private banking entities in the country. With a national presence, the bank has 416 branches and 820 ATMs. The bank registered growth of 21 per cent in deposits and 28 per cent in advances at the end of September 2015. Keeping line with the current generation, the bank is geared to become a supermarket of financial services.

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