IDBI Bank launches Banking Services

 IDBI Bank launches Banking Services 24X7 on WhatsApp

IDBI Bank Limited today announced the launch of banking services on WhatsApp for its customers. This launch is a part of sustained initiatives the Bank has taken to enable the customers to access banking services remotely at their convenience.

WhatsApp Banking service is being offered through a dedicated WhatsApp verified number ensuring end to end encryption. WhatsApp Banking facility, shall enable IDBI Bank customers to avail various essential banking services such as account balance information, last five transactions, request for a Cheque book and an Email statement, Interest Rates, as well as details of the IDBI Bank branches/ATMs in the vicinity, to begin with.

Addressing during this launch, Mr. Rakesh Sharma, MD & CEO, IDBI Bank said, “IDBI Bank has always focused on taking initiatives that adds to the customer convenience in availing seamless banking experience. Launch of banking services on WhatsApp is yet another initiative in this direction through which IDBI Bank aims at creating ease of accessibility and convenience for its customers by offering an instant solution to their immediate basic banking needs from the comfort and safety of their homes”

 

Axis Bank redefines conventional employment

Axis Bank redefines conventional employment, launches

GIG-A-Opportunities

·        GIG-A-Opportunities – a new platform for alternate work models to attract the finest talent, with a promise of growth with flexibility, diversity and inclusivity.

·         Embraces the ‘work from anywhere’ model, in line with the Bank’s Open philosophy and ‘New Ways to Work’ initiative earlier this year

·         Platform expected to boost employment opportunities for talent in smaller towns

·         The Bank targets up to 15% of incremental hiring in alternate work models over the next three years

 Axis Bank, India’s third largest Bank today announced the launch of GIG-A Opportunities, a platform for alternate work models that encourage greater flexibility, diversity and inclusivity.

With technology breaking down physical boundaries, the ongoing pandemic has only accelerated people’s inclination to create their own work environment outside all physical constraints. Both, work and the workplace have been compelled to undergo rapid transformation over the past few months. Axis Bank’s ‘GIG-A-Opportunities’ is the answer to the challenge of having an integrated work model & solution that addresses the varied skill requirements of a large corporate, while meeting the need of flexibility and ease for a growing pool of untapped talent.

‘GIG-A-Opportunities, as the name suggests, is pegged for large opportunities in the job market. It will open up large prospects in digital banking, technology, risk modeling, virtual sales, audit and credit policy, which are the first set of pilot offers for the model. It will attract talent through two work models – 1) 100% virtual roles and 2) flexible, project based short term contracts. These jobs offered go beyond the traditional association of freelance or work from home.

Commenting on the initiative, S.Ramodarai Chairman, TISS and Chairman, Axis Bank Foundation, said ‘GIG-A-Opportunities is a great platform which clearly is the direction of Future of Work. Axis Bank taking the lead is very welcome. The option to work from home and flexibility to define ones capabilities will unearth a lot of hidden talent for the future including gender balance and inclusivity’

This innovative platform would make it possible to ‘work from anywhere’, while ensuring flexibility and ease of operations for skilled specialists. Therefore, it will invariably access a much larger talent pool that is spread across the country, including smaller cities and towns, and also open up the possibility of cross border associations. This presents a great opportunity to ensure no talent in India is left behind and the educated, skilled young population can prosper from any geography. Diversity & inclusion will get a huge boost as access to different talent pools open up, with the benefit of welcoming traditionally overlooked candidates such as women with home obligations, differently-abled, alternate age profiles etc.

Rajkamal Vempati, EVP& Head – HR, Axis Bank, said, “As a culture, Axis Bank has always believed in remaining agile and our hiring approach over the years has reflected the change in times. Embracing GIG-A is yet another way to showcase our bank’s adaptability to modern times - we recognize that static criteria like qualifications or degrees can no longer be the calling card for hiring and that the pivot will be on creating associations based on skills. We are quietly confident that this will be a path-breaking initiative in the industry whereby skilled workforce, across geographies, will find employment opportunities.”

Axis Bank hopes to have up to 15% of incremental hiring in alternate work models over the next three years, and leverage this to drive increased diversity in the talent pool. 

To apply for the GIG-A jobs at Axis, visit:

https://www.axisbank.com/careers/fresher?tabname=gigaopportunity&cta=homepage-main-banner-second-careers-giga-opportunities

NPCI plans expansion of its

NPCI plans expansion of its 100% contactless and interoperable parking solution with NETC FASTag in metros

·         With a great response from the first-of-its kind contactless car parking facility at Hyderabad Airport, NPCI is taking this unique service to Delhi, Mumbai, Chennai and Bengaluru

·         NPCI is in discussion with malls, airports and parking lots in Delhi & Bengaluru to implement contactless car parking

National Payments Corporation of India (NPCI) today announced the expansion of its 100% Contactless and Interoperable Parking Solution with NETC FASTag in major cities like Delhi, Mumbai, Chennai and Bengaluru. As the first bank to extend this facility of collecting parking charges through FASTag at the GMR Hyderabad International Airport, ICICI Bank with NPCI, is set to roll out contactless car parking in other metros.

The unique facility of 100% Contactless and Interoperable Parking Solution with NETC FASTag is currently being implemented by 10 FASTag issuing banks at the GMR Hyderabad International Airport. NPCI expects the rest of the issuer banks to activate the contactless parking with NETC FASTag at the Hyderabad Airport in the next few weeks.

NPCI is now geared-up to expand the contactless car parking facility in Mumbai and Delhi. It has also initiated discussions with major malls, airports and other private parking lots in Chennai and Bangalore for the NETC FASTag powered contactless car parking solutions. The company has been receiving interests from major banks in spearheading the parking projects.

Mr. Sudipta Roy, Head - Unsecured Assets, ICICI Bank, said, “ICICI Bank has always been at the forefront of introducing innovative technology for a world class customer experience. We are happy to partner with the GMR-managed Rajiv Gandhi International Airport to enable a FASTag powered parking management system. This is a safe, contactless and hassle-free system. It works on RFID technology that also powers digital toll collection at more than 695 toll plazas across the country. We feel that commuters using Hyderabad Outer Ring Road and now the airport parking will get a seamless experience powered by ICICI Bank FASTag.”

Mr. Pradeep Panicker, CEO, GHIAL, said, “As part of our commitment to providing a safe airport experience during Covid-19 pandemic, we are happy to announce that now passengers and visitors can avail a fully contactless car parking experience thanks to the collaboration with NPCI and NETC, which has now made our car parking fully compatible with any NETC FASTag Issuing Banks in India. We have tested first with ICICI Bank and now opening up to all the balance issuers. With this customers holding any bank NETC FASTag could zip through the airport car parking with zero-contact transactions having full control over their safe travels. While, the traditional mode of transaction with digital payment over-the-counter option will also be available, however, for more safety and contact-less experience, one could avail the NETC FASTag option at the airport car parking.”

Ms. Praveena Rai, COO, NPCI said, “We are going to see a good adoption of this solution across all the parking lots in the near future. We are aiming at taking this unique contactless parking proposition in metro cities keeping in mind the convenience of passengers and visitors. In this new normal during the COVID-19 pandemic situation 100% contactless payment solution is going to be the need of the hour. Our endeavour at NPCI is to provide customers across the country a safe, hassle-free and truly contactless vehicle parking experience with NETC FASTag.”

The contactless car parking facility allows passengers and visitors the comfort of paying for parking without the need to roll down their windows. While the parking lots across the country are being enabled with digital payment solutions, several models are semi-automated but not 100% contactless. This leads to an opportunity to all parking providers across the country to adopt a safe and contactless payment solutions by implementing the NETC FASTag. The NETC FASTag solution not only works in a post pay solution but also with a pre-paid mode of securing parking at any parking plaza. The parking applications can seamless integrate with the NETC FASTag API model and avail the benefit of Interoperability.

How the solution works:

This automated system entails a customer buying the NETC FASTag, which is linked to a prepaid account. The tag employs Radio-frequency Identification (RFID) technology and needs to be affixed on the vehicle's windscreen after the tag account is active. The RFID Tag is mapped with NPCI by the issuer bank(s). The subscriber of this system can use the parking without any manual intervention, such as waiting for a parking receipt at the entry or making cash/credit card payment at the exit. There is no additional cost to customers with respect to the parking fee. One has to just purchase a onetime tag which does away with the wait time at entry and exit.

Dedicated NETC FASTag lanes are in place. When a user arrives through this lane, the strategically placed RFID reader will capture the tag with the timestamp and store the details in the local data base. While exiting, the same will be reconciled and the chargeable parking fee is automatically deducted allowing the passengers to virtually zip through the parking lot in no time. Post completion of every transaction, user will receive SMS on the deducted amount.

For any parking integration requirements you may write to Parking.netc@npci.org.in

SBI reduces MCLR by

SBI reduces MCLR by 5-10 bps in the shorter tenors

·         MCLR upto 3 months tenor comes down to 6.65% p.a w.e.f July 10

·         14^th consecutive reduction in bank’s MCLR

·         SBI’s MCLR continues to be the lowest in the market

Country’s largest lender State Bank of India (SBI) has announced the reduction in its MCLR by 5-10 bps in the shorter tenors i.e. upto 3 months, with effect from 10th July 2020, to boost credit off take and revive demand.

This is 14th consecutive reduction in the Bank’s MCLR. With this revision, SBI’s MCLR upto 3 Months tenor comes down to 6.65% p.a., which is on par with the EBLR of SBI.

SBI’s MCLR continues to be the lowest in the market.

Details are being made available on the Bank’s web site.