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Realty sector takes a break... Chola MS net crosses 100 crores AirAsia India infuses funds to fight out competition STFC raises money European crisis is a global crisis! When Centre visits the state Curbing steel imports will hurt small business... Durga - India’s largest blast furnace; now operational Ridley marathon to India Research needs more funding Sun Edison launches solar pumps Climate change may change the way businesses work... A global plastic event in India Automotive Vision Plan II... SumInfra- corridor based development... Investor friendly Japan IFCI to raise NCDs upto Rs 2000 crore WABCO’s second Chennai plant ECGC expands operations TII-challenging year with flat growth Time to fast-pace the logistics sector Chola MS launches motor app Strategy war escalates between Hero and Honda More gensets and diesel engines from TAFE Gem of social service... Make way for the new and dynamic railways Flexible labour laws… LVB gears to become a financial supermarket Chennai Port is at last decongested! Reality bytes Innovation that helped Chennai port Hero Motocorp - smooth ride Hyundai excites again An aerospace-defence cluster in Tamil Nadu… Indian Bank – global businesses crosses Rs 3 lakh crore... On the ‘milky’ way BRICS development bank Techies trip to India TN budget pragmatic and moderate on fiscal deficit TiE applauds innovative entrepreneurs - ISRO's 100th mission Brand leaders come forward... Smart controls for cooling large multi-zone spaces ... Illicit markets a concern to growing economy Carrefour’s quick exit Business Breif Dynamic e-commerce scenario TVS Logistics – another acquisition to sharpen the business model Creating Tamil Nadu Banana brand Connecting the unconnected Chennai to get a roundabout Metro Steel loses its sheen Nigeria comes nearer Blue Star plans a new plant in south Housing Innovation Challenge, 2015 Three more leather clusters… Focus on self-certification and third party inspection People Flow Day- Safety Schwing Stetter India joins hands with US-based Gomaco The new look- 4s Verna OBO Bettermann for better lightning protection Celebrating 180 years of relevance Downsizing spree... Murugappa- a year of consolidation TCS’ revenues cross Rs 100,000 crore Bridging the skill deficit in pharma industry Scoot offers just Rs.13,500 to ANZ... Veritas Finance- financing the unfinanced Economic, business and social sustainability Realising double digit growth in Tamil Nadu Applauding enterprise... Changing dynamics in human resource management Auto test tracks launched at GARC Oragadam campus Backpack laboratory ALL-two launches in a row ALL – truck industry is recovering from degrowth Rating of states to be released soon Apple maps – finding its way Striking cords for 25 years… Holiday Inn opens in OMR Chennai Chennai will soon get its World Trade Centre Inclusive and forward moving... World labour laws at a glance Tata Steel commence operations at Kalinganagar Well-refined – RIL’s refinery margins zoom Secured NCDs from Shriram City Big-ticket investments march towards Punjab Adding Zest to Scooty Indigo stays leader with 40 per cent share Nothing to hide... TOP 10 CEO Compensation Four daughters and a proud father Economic issues take a back seat at G20 summit Airlines wage price war Waste, a gold mine Pharma market dozes Is Indian telecom industry heading for a monopoly? CUB: towards card-less withdrawal Towards peace of mind Placing the right shoe forward... Business Briefs Need to focus on ease of doing business... Celebration time at MS Chola Industry-well poised to invest on expansion TII’s single largest investment at Thiruthani An American alliance in the chemical industry? Digital retail transactions stabilise at higher level… Purdue and IIT-M sign the dotted line ALL to launch electric busses
 
CUB: towards card-less withdrawal

With a total business of Rs 48,411 crore, City Union Bank (CUB) has maintained a 15 per cent growth in FY16.  Deposits have increased to Rs 27,158 crore, a jump of 13 per cent.  In the thick of reports of banks reporting massive losses, CUB has recorded a 13 per cent increase in its net profit, with net NPA at 1.53 per cent of its net advances. CUB has been able to maintain quality assets with focus on SMEs and agriculture.

Among smaller private banks, CUB has been a pioneer in technological advancements, from e-wallet to the e-lounge. Its next focus is on card-less cash withdrawal that would enable a CUB customer to withdraw money from CUB ATMs through one-time password (OTP), without using a card. It has been implemented in

T-Nagar, Mandavelli and Mount Road CUB ATMs. With the induction of S Mahalingam (ex-TCS Director) as the non-executive chairman, CUB can be expected to use much more technology.

One saw CUB everywhere in the recent Mahamaham festival with a step up in its CSR expenditure to Rs 10.45 crore. As part of Swachh Bharat mission, the bank  has constructed around 110 public toilets and made available mobile toilets during the Mahamaham festival. It has also planned smart initiatives to be implemented in and around Kumbakonam.

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