| Not a child's play | 25-OCT-09 |
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| There is an increasing need to teach children sound money management. This is done by exposing them to money and giving them pocket money for use. Giving them the freedom to manage several of their expenses using this money is used for the purpose of inculcating sound money management behaviour from a young age. All these areas need adequate attention, as this will have a lasting impact. |
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| ATMs should be stand-alone | 16-OCT-09 |
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| The freedom that bank customers have been enjoying since April, in using any bank’s automatic teller machine, to withdraw cash without incurring any charge is about to end. Banks will now be free to levy a charge for withdrawals beyond five per month and also impose a ceiling of Rs 10,000 on individual withdrawals. Banks are, however, free to continue with the current regime and at least one bank has decided to do so, seeing a competitive business advantage in making the offer. So long as the reimposed restrictions are not excessive, they will not be irksome and may even be considered as useful in imposing some discipline among customers. The new rules are in response to banks’ complaint that customers were using the free third-party facility excessively (too many withdrawals in small amounts), thus imposing a not insignificant cost on banks. |
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| Free ATM era ends tomorrow | 12-OCT-09 |
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| Customers will be offered five free third-party withdrawals per month from savings accounts and will be charged from the sixth transaction onwards. |
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| NCR to open 3,800 ATMs for SBI | 29-SEP-09 |
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| NCR today announced that it has secured an order for the sale of 3,800 ATMs, as well as a seven-year ATM services contract, from State Bank of India (SBI). |
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| IOC outlets to have South Indian Bank's ATMs | 21-SEP-09 |
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| Indian Oil Corporation (IOC) and South Indian Bank (SIB) on Saturday signed a memorandum of understanding to start the latter's ATMs at IOC outlets across the country. |
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| Hedge funds' ATM moves from Tokyo to Washington | 20-SEP-09 |
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| China is getting all worked up about the wrong thing when it comes to the US. Forget these nascent trade wars over tires, cars and chickens. China’s real problem is how quickly the dollars they hold in great quantity are getting all the respect of pesos these days. Sounds like hyperbole? Not when you consider what may be the hottest investment of 2010: the dollar-carry trade. |
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| South Indian Bank to set up ATMs at IOC pumps | 19-SEP-09 |
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| South Indian Bank (SIB) has signed an Memorandum of Understanding(MoU) with Indian Oil Corporation (IOC) to set up ATMs at retail filling stations of the latter across India.Under the agreement, signed at Kochi yesterday, SIB would initially set up ATMs at 17 retail outlets of IOC. |
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| NCR Corp introduces no envelope multi-function ATM | 15-SEP-09 |
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| Global technology company NCR Corporation today unveiled its next-generation multi-function automatic teller machine (ATM) which would help financial institutions reduce their operating costs. |
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| Hughes to connect around 3,000 ATMs of SBI | 14-SEP-09 |
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| Hughes Communications, a provider of broadband satellite and managed network services, bagged contract worth Rs 22.5 crore to deploy a network of 2,880 VSATs for State Bank of India (SBI) to connect its off-site ATMs across the country. |
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| Most banks aim to deploy IT for cost reduction: KPMG | 11-SEP-09 |
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| The search for the next big business need that may be fulfiled through IT is what drives technocrats in the banking sector today. While, capital and operational expenditure in IT by a majority of the banks hovered around 1-3 per cent of their annual revenues, technology is now being considered for deriving strategic advantage for effective business growth and cost reduction projects within the bank. The findings were part of the ‘IT Current Status Survey’ conducted by KPMG to help identify key technology trends in Indian banks. |
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| 3rd party ATM curbs to trouble customers | 01-SEP-09 |
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| The Reserve Bank of India’s (RBI’s) decision to end the free run at automated teller machines (ATMs) is going to come with a lot of troubles for bank customers. The only thing that’s clear is the October 15 deadline for the end of free third-party ATM use. |
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