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