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BANCS
Banks ATM Network and Customer Services (BANCS) is an interbank network in India. It was launched on 25 February 2004, with 13 member banks. It is managed by an advisory board consisting of member banks. It is successor to the now-defunct Swadhan ATM network. After the cyber attack by Wannacry several ATM were shut down in Kerala in May 2017 Member banks # Bank of Maharashtra # Bank of Bahrain and Kuwait Greater Bombay Co-op Bank# Centurion Bank # Central Bank of India # UTI Bank # Punjab & Sind Bank # IDBI Bank Ltd # RBL Bank SBI Commercial & International Bank# Cosmos Bank Air Corporation Employees Co-op Bank# Saraswat Bank Technology BANCS is supported by the India Switch Company (ISC), acquired by eFunds in 2005, which in turn, was acquired by Fidelity National Information Services. ISC supports BANCS through a mix of VSATs, ISDN, leased lines, CDMA and GPRS. The financial switches used in the system are provided by Oasis Technology Ltd., Mumbai. The software used is f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Interbank Network
An interbank network, also known as an ATM consortium or ATM network, is a computer network that enables ATM cards issued by a financial institution that is a member of the network to be used to perform ATM transactions through ATMs that belong to another member of the network. However, the functions which may be performed at the network ATM vary. For example, special services, such as the purchase of mobile phone airtime, may be available to own-bank but not to network ATM cardholders. Furthermore, the network ATM owner may charge a fee for use of network cards (in addition to any fees imposed by the own-bank). Interbank networks enable ATM cardholders to have access to ATMs of other banks that are members of the network when their own bank's ATM is unavailable. This is especially convenient for travelers traveling abroad, where multinational interbank networks, like Plus or Cirrus, are widely available. Interbank networks also permit, through different means, the use of AT ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cashnet
Cashnet is an interbank network in India managed by Euronet Services India Pvt. Ltd. which is a subsidiary of Euronet Worldwide. Banks can join the Cashnet shared ATM network whereby each member banks’ cardholders can perform transactions at other member banks’ ATMs. Member banks will allow their customers to perform transactions at other member banks ATMs ("Issuing Bank") and allow other member banks’ cardholders to perform transactions at their ATMs ("Acquiring Bank"). All member banks are expected to be both Issuing Banks and Acquiring Banks. Euronet India provides the central switching and processing centre for the shared ATM network by establishing a host-to-host connection to each member bank, facilitating daily settlement between each participant and providing settlement reports. Switching and gateway services to international card organisations such as Visa, MasterCard, Amex and Diners Club will be provided. History The Reserve Bank of India (RBI) has granted ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
MITR ATM Sharing Network
MITR was a multilateral interbank network sharing arrangement of 6 member Banks in India for automated teller machines (ATMs) that operated between 2003 and 2016. Punjab National Bank (PNB) acted as the settlement bank for the MITR Network History It came into existence on 8 October 2003 with five member banks, Punjab National Bank (PNB), Oriental Bank of Commerce (OBC), Indian Bank, Karur Vysya Bank and IndusInd Bank with UCO Bank joining later. ATM transaction switching technology was provided by Chennai-based Financial Software Solutions Ltd. The sharing arrangement formally ended in 2016 when each of the member banks joined the Indian National Financial Switch directly. Competitors * Cashnet * CashTree * BANCS Banks ATM Network and Customer Services (BANCS) is an interbank network in India. It was launched on 25 February 2004, with 13 member banks. It is managed by an advisory board consisting of member banks. It is successor to the now-defunct Swadhan ... References ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CashTree
CashTree is an interbank network founded in 2003 by five public sector banks, Syndicate Bank, Bank of India, Indian Bank, United Bank of India and Union Bank of India, for sharing their ATM networks. Dena Bank later joined the network. Members *Bank of India *Dena Bank *Indian Bank *Syndicate Bank *United Bank of India *Union Bank of India Competitors * Cashnet * MITR * BANCS Banks ATM Network and Customer Services (BANCS) is an interbank network in India. It was launched on 25 February 2004, with 13 member banks. It is managed by an advisory board consisting of member banks. It is successor to the now-defunct Swadhan ... References {{interbank networks Interbank networks in India ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UTI Bank
Axis Bank Limited, formerly known as UTI Bank (1993–2007), is an Indian banking and financial services company headquartered in Mumbai, Maharashtra. It sells financial services to large and mid-size companies, SMEs and retail businesses. As of 30 June 2016, 30.81% shares are owned by the promoters and the promoter group ( United India Insurance Company Limited, Oriental Insurance Company Limited, National Insurance Company Limited, New India Assurance Company Ltd, GIC, LIC and UTI). The remaining 69.19% shares are owned by mutual funds, FIIs, banks, insurance companies, corporate bodies and individual investors. History The bank was founded on 3 December 1993 as UTI Bank, opening its registered office in Ahmedabad and a corporate office in Mumbai. The bank was promoted jointly by the Administrator of the Unit Trust of India (UTI), Life Insurance Corporation of India (LIC), General Insurance Corporation, National Insurance Company, The New India Assurance Company, The O ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Punjab & Sind Bank
Punjab & Sind Bank is an Indian public sector bank headquartered in New Delhi. As of 31 March 2020, the bank has 1526 branches which are widely spread across India out of which 635 branches are in the state of Punjab, and 25 zonal offices located all over India. History The bank was established in Amritsar on 24 June 1908 by Bhai Vir Singh, Sir Sunder Singh Majitha, and Sardar Tarlochan Singh to serve the then Sind and Punjab areas of colonial India. On 15 April 1980 Punjab & Sind Bank was among six banks that the Government of India nationalised in the second wave of nationalisation. (The first wave had been in 1969 when the government nationalised the top 14 banks.) In the 1960s Punjab & Sind Bank established a branch in London. In 1991 Bank of Baroda acquired Punjab & Sind Bank's London branch at the behest of the Reserve Bank of India following Punjab & Sind's involvement in the Sethia fraud in 1987. Since 2004, the bank has shown growth of over 40% year on year, and it ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
IDBI Bank Ltd
The IDBI Bank Limited (IDBI Bank or IDBI) is a development finance institution under the ownership of Life Insurance Corporation of India and Government of India. It was established in 1964 as Industrial Development Bank of India, a development finance institution, which provided financial services to industrial sector. In 2005, the institution was merged with its commercial division, IDBI Bank, forming the present-day banking entity and was categorised as "other development finance institution" category. Later in March 2019, Government of India asked Life Insurance Corporation to infuse capital in the bank due to high NPA and capital adequacy issues and also asked LIC to manage the bank to meet the regulatory norms. IDBI was put under Prompt corrective action of the RBI and on 10th March 2021 IDBI came out of the PCA. At present direct and indirect shareholding of Government of India in IDBI Bank is approximately 95%, which Government of India (GoI) vide its communication F.N ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
RBL Bank
RBL Bank, formerly known as Ratnakar Bank, is an Private sector banks in India, Indian private sector bank headquartered in Mumbai and founded in 1943. It offers services across six verticals: corporate and institutional banking, commercial banking, branch and business banking, retail assets, development banking and financial inclusion, treasury and financial market operations.https://www.rblbank.com/about-us History On 6 August 1943, Ratnakar Bank was founded as a regional bank in Maharashtra with two branches in Kolhapur and Sangli founded by Babgonda Bhujgonda Patil from Sangli and Gangappa Siddappa Chougule from Kolhapur. It mainly served Small and medium-sized enterprises, small and medium enterprises (SMEs) and business merchants in the Kolhapur-Sangli belt. It was incorporated in Kolhapur district on 14 June 1943 as Ratnakar Bank Limited. In 1959, the bank was categorized as a Scheduled Banks (India), scheduled commercial bank as per the Reserve Bank of India Act, 1934 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Maharashtra
Bank of Maharashtra is an Indian public sector bank headquartered in Pune. The bank had 29 million customers across the country with 2022 branches as of March 2022. It has the largest network of branches of any nationalised bank in the state of Maharashtra. The total business of the bank crossed ₹ 3,15,620 lakh crore as on 31 December 2021. This diwali, the Bank of Maharashtra was ready to give 50% profit as the repo rate increased by Reserve Bank of India by 0.5 % History The bank was founded by V.G.Kale and D. K. Sathe in Pune. The bank was registered on 16 September 1935 with an authorized capital of and became operational on 8 February 1936. It provided financial assistance to small business and gave birth to many industrial houses. The bank was nationalised in 1969. A. S Rajeev assumed charge as Managing Director & CEO of the bank on 2 December 2018. A.B. Vijayakumar joined as Executive Director on 10 March 2021. Asheesh Pandey joined as Executive Director on 31 Dec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Saraswat Bank
Saraswat Co-operative Bank Ltd. is an urban co-operative banking institution, having its headquarter in Mumbai, Maharashtra, India and operating as a co-operative society since 1918. The Founding Members of the society were J. K. Parulkar as chairman, N. B. Thakur as vice-chairman, P. N. Warde as Secretary, and Shivram Gopal Rajadhyaksha as Treasurer. In 1988, the bank was conferred with the Scheduled status by the Reserve Bank of India. It is the first co-operative bank to provide merchant banking services. The bank got a permanent license to deal in foreign exchange in 1979. Presently, the bank has a correspondent relationship in 58 countries covering nine currencies with over 162 banks. The bank's total business which was around in the year 2000, has reached to in 2020.https://www.saraswatbank.com/Assets/ANNUAL%20REPORT%202020_12112020_1131.pdf In the year 2008, the bank launched a new logo branding. In the last two decades, the bank has witnessed a steady growth in bu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
EFD (eFunds Corporation)
EFD was an American payments services company. It provided financial service companies and other large enterprises with new account decisions, fraud detection and payment processing services. On June 27, 2007, Fidelity National Information Services, Inc. (FIS) announced that it was acquiring EFD in an all-cash transaction valued at about $1.8B. The target completion date for the acquisition was the 3rd quarter of 2007. Company history EFD was formed as eFunds Corporation in 1999 as a spin-off from Deluxe Corporation, bringing together established players in financial risk management and electronic transaction processing services; previously distinct businesses within Deluxe. In January 2000, iDLX Technology Partners, another Deluxe unit, combined with eFunds to add professional services and business process outsourcing capabilities to the new business. In June 2000, eFunds held its initial public offering on the NASDAQ national market and later that year completed its separation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fidelity National Information Services
Fidelity National Information Services, Inc. (FIS) is an American multinational corporation which offers a wide range of financial products and services. FIS is most known for its development of Financial Technology, or FinTech, and as of Q2 2020 it offers its solutions in three primary segments: Merchant Solutions, Banking Solutions, and Capital Market Solutions. Annually, FIS facilitates the movement of roughly $9 trillion through the processing of approximately 75 billion transactions in service to more than 20,000 clients around the globe. FIS was ranked second in the FinTech Forward 2016 rankings. After finalizing FIS' most recent deal to acquire Worldpay for $35 billion in Q3 of 2019, FIS became the largest processing and payments company in the world. Operations FIS has a portfolio of products for the financial services sector, including both retail and investment banking. They include "Profile" ― a banking application based on the open source GT.M, a transaction pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
