Page 10 - BANKING FINANCE November 2018

BAN U A

en al o a k ank Di i al S a oun li k wi oun er
Digital Sa ings ank accounts that can e o ened online instantl ha e eco e a
o uar M
hit ith oungsters nlike a nor al account that re uires one
he engal go ern ent asked all
to go to a ank to su it docu ents in line ith no our
anks to en
Custo er C nor s and ait in ueues digital accounts can
sure that their
e o ened an ti e using a s art hone or co uter
Ms ere
ono State ank o ndia s lagshi enture has itnessed
a n n e d
the o ening o accounts er da in ul on so e da s
ithin a ort
his is seen as a digital ank ith a i e ti e increase in the dail run rate or
night he anks ha e een told
account o ening in the last t o onths according to data ro ided S
that the Ms ould ha e to e
anned e ll carr out an in otak Mahindra ank s digital S account titled has also elicited huge
s ection a ter a ortnight e ind res onse according to its ecuti e ice resident uneet a oor he ank
unguarded Ms a ro riate action added lakh custo ers in onths since the launch o its online account
ill e taken against the ank in o ening acilit in March his re resented an annualised gro th o
ister Sadhan ande said er cent he said
e ill dra u cases under the n online sa ings account can e o ened do nloading the ank s a and
ro isions o the consu er rotec authenticating onesel ith adhaar credentials ia a one ti e ass ord t is
tion act he said asked a out the a ero alance sa ings account ith ero charges or all digital transactions
nature o the action here custo ers can earn er cent on sa ings account alance u to Rs
lakh and er cent on alances a o e Rs lakh u to Rs crore
earl eo le are alread kno n
to ha e een ro ed o a co ined
ar loan e aul u R rore o R rore
a ount o Rs lakh a ter their M
in a ear
cards ere allegedl cloned and the
data stored in the agnetic stri es he stress in the ar sector see s to ha e intensi ied ith anks re orting a
gleaned ski ers olice in esti er cent increase in de ault o loans contracted
gations so ar suggest that all the ar ers in the inancial ear ended March
Ms here the ski ing de ices Des ite the ar loan ai er sche es o ered
ere installed ere unguarded se eral states and the hike in ini u su ort rice
MS the Centre the Reser e ank o ndia R
n the outsourcing odel se eral
data sa s loans de aults or non er or ing assets
u lic sector anks ollo a ank has
s in the ar sector ha e gone u o er Rs crore to Rs
no role in the installation and ain
crore March ro Rs crore in March the R said in its
tenance o Ms he M endors
re l to an R a lication iled he ndian ress
are aid on the asis o each trans
o e er according to the central ank igures agriculture loans o anks ha e
action Minister said he anks said
sho ed onl a s all rise o er cent to Rs crore in March
the unctioning o the Ms had
ro Rs crore in March hile ar loan gro th sho ed a
een ostl outsourced he agen
arginal rise ad loans in the seg ent oo ed as loan ai ers state go
cies res onsi le or running these
ern ents acted as incenti es or ar ers to de ault he R said S Canara
Ms a ear to e cutting corners
ank D C ank and ank o aroda to ed the list o anks hich sho ed
or ro its
the highest ar loan de aults
he ranch anager should ha e
ccording to an R stud around er cent o agri loans are cro loans hich
the hone nu er o a designated
account or nearl er cent o the outstanding loan a ount ajorit o
o icer ro the local olice station
these cro loan reci ients illion had outstanding loans u to Rs lakh and
he should get in touch ith hi i
their a erage loan a ount as Rs he loans or in est ent in e ui
ediatel a ter a raud has een
ent e g tractors had a share o nearl er cent and er cent in the
re orted ande said
nu er o accounts and the loan a ount res ecti el
10 | 2018 | NOVEMBER | B N N N N E