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