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Showing posts with label DCB bank. Show all posts
Showing posts with label DCB bank. Show all posts

Thursday, 1 December 2016

08:13

Kerala CM asks coop. banks to adopt core banking

Kerala CM asks coop. banks to adopt core banking

Thiruvananthapuram: Stung by the post-demonetisation RBI curbs on cooperatives in Kerala, Chief Minister Pinarayi Vijayan has asked the primary cooperative credit institutions in the State to adopt a common software that would make them fully compliant with RBI norms.

Addressing a meeting of cooperators and cooperative institution representatives, Mr. Vijayan said the cooperatives could either go for the RBI's core banking software or have some other software that is chosen entirely on the basis of merit. This should be done in consultation with NABARD, he said.

The Chief Minister also asked the cooperative credit institutions to see if they could collectively come out with a card modelled on the RuPay card and revise the interest being paid for deposits. The government, he said, would give full guarantee for every paisa deposited with cooperative banks and credit institutions. Those heading such institutions should visit homes of depositors about the safety of their money, he added.


The Chief Minister's statement assume significance in the light of the stringent curbs imposed on District Cooperative Banks (DCBs) by the RBI following reports that their activities in the hours following the announcement of demonetisation called for a closer look. Roughly Rs. 2,200 crore in the demonetised currencies, receiving from primary credit bodies and individual depositors, is reported to be remaining stuck with the DCBs.

Source:The Hindu

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Sunday, 3 April 2016

21:03

AADHAAR BASED ATM NEED ONLY BIOMETRIC DATA OF ACCOUNT HOLDER,NO PIN

AADHAAR BASED ATM NEED ONLY BIOMETRIC DATA OF ACCOUNT HOLDER,NO PIN

In a first, DCB Bank offers ATM transactions sans PIN

MUMBAI: In a first for any domestic bank, small-sized lender DCB Bank has started an Aadhaar-based ATM usage facility wherein a customer can transact using his biometric details instead of the PIN.

"We have started the first ATM in the country which operates using the Aadhaar data. One can do a transaction without the card as well," the bank's Managing Director and Chief Executive Murali Natrajan told PTI.

The user can key-in the 12-digit Aadhaar number or swipe the card at an automated teller machine (ATM) to start a transaction, but at the stage of confirming the identity, it requires biometric details rather than the PIN.

"All you have to do to authenticate is put your finger on the scanner. This is better than PIN, which can be forgotten because of multiple bank accounts," he said.

Seeding the bank account with the Aadhaar number will be essential before a customer can use the facility, he said, adding that initially, only DCB Bank customers will be able to make use of the service.

The solution has been developed in-house and involves connecting up with the Aadhaar server to authenticate the identity of the customer every time a transaction is initiated, he said.

Natrajan said it is a comparatively inexpensive solution and the bank, which currently has 400 ATMs, is targeting to cover its entire network under the system within a year.

The first of the Aadhaar-based ATMs has been installed at its corporate office in the megapolis' Lower Parel area and Natrajan said it will be waiting for a month more for the technology to stabilise before a mass rollout.

He added that it has great potential at the POS (point-of-sale) terminals at the merchants' end to make transactions easier and also for business correspondents.

Enrolments under Aadhaar are set to cross the 100 crore mark soon. The data is being used for a slew of purposes like opening bank accounts and the government's direct benefit transfer (DBT) scheme.

Natrajan said he sees the banking industry coming out with similar technologies so that ATM transactions can be carried out without a card.



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Wednesday, 2 March 2016

21:37
DCB Bank buys microfinance firm

March 1, 2016

DCB Bank has bought 5.81 per cent stake in Annapurna Microfinance Pvt Ltd for ₹9.99 crore, the bank said in a filing to the BSE on Tuesday. 
Annapurna Microfinance has 172 branches in rural areas of Odisha, Chhattisgarh, Jharkhand, Maharashtra, Rajasthan, and Madhya Pradesh. The microfinance firm has assets under management worth ₹720 crore. Microfinance firms, of late, are attracting investor interest on the bourses.

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Monday, 28 December 2015

12:53

DCB Bank, M2P launches mobile wallet service YAP

DCB Bank, M2P launches mobile wallet service YAP

DCB Bank and M2P, a digital payment solutions company, have jointly launched a new platform YAP for wallet services.

"DCB Bank has partnered with M2P to offer the 'YAP' digital payment suite targeting businesses going digital and looking to adopt bank-grade solutions. This sophisticated platform will enable retail brands and businesses to provide digital payment suites on their websites and mobile applications," DCB Bank said in a release today.

The Bank's digital wallet can be embedded into any website or mobile application and has a high level of security, reliability and trust, it said.

It includes a host of features including one-click checkout and instant processing of refunds as well as voucher and coupon offers.

Further, customers have the option to add a Visa Prepaid Card linked to their digital wallets to power online commerce transactions and payments to offline merchants, said the bank.

Source :BankingUpdates
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