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

Things are changing now after the introduction of Core Banking Solutions (CBS). The size of customer-base is expanding and the banks’ service points, both brick and mortar branches and virtual branches, are steadily on the increase. Under the branchless banking mode, there are 337,678 outlets, most of which are in rural areas. A small electronic gadget has entered rural India through this model, operated by the Business Correspondents at her/his residence.

The number of credit cards has gone up to 19 million and debit cards outnumber them at a whopping 394 million. According to Reserve Bank data, the number of bank customers using mobile banking has increased from 12.96 million in 2011-12 to 35.53 million in 2013-14, registering an increase of 58 per cent. The value of the annual transactions has gone up from Rs.18.21 billion to Rs.224.38 billion during this period of three years. Rate of growth of Debit card usage has been higher at 28 per cent as against 25 per cent in the case of credit cards during the last three years.

Traditionally bank cheques, demand drafts and travelers’ cheques were means available to bank customers for making payments, locally or out-station locations. With the advent of digital banking, the utility of these instruments of payments has undergone remarkable changes. Travellers’ cheques are almost out of circulation and are being replaced by Credit cards, which can be used at international levels also. Demand drafts are also losing their relevance. There is a visible shift from cash payments to electronic payments. Payments by cheque even for outstation receivers are now free of cost and the amounts are credited immediately. Transactions through real time gross settlement have increased by 18.38 per cent in terms of volume and by 8.48 per cent in value terms during the current year.

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