But there is light at the end of tunnel. For southern In
dia, festival season actually began with Onam and banks are looking very seriously at this period. Banks, which predominantly have a strong foothold in southern India, have started to market their schemes, especially towards Non Resident Indians (NRIs). For example Federal Bank, which has a strong presence in Kerala, has launched a special scheme for NRIs who could use Federal Bank’s remittance facility (FedFast). Commenting on the new offer, Venugopalan of Retail Banking division of Federal Bank told B&E, “We have about 400,000 NRI customers availing of our facilities and services on offer. Federal Bank has remittance arrangements with about 28 exchange houses throughout the GCC (Gulf Cooperation Council) countries, thus making it convenient for customers to send money.” There is some reprieve for those who wish to avail loans. Many banks are aiming at waiving off documentation, services, upfront fees et al to rope in more customers. Ranjiv Walia, Business Head, Consumer Loans, ING Vysya, told B&E, “ING Vysya Bank has lined up a series of exciting campaigns at many locations during the festive season. The campaigns would be targeted for ‘Home Loan’ & ‘Personal Loan’ customers.” The bank plans to waive 50% off processing fee.
For Complete IIPM Article, Click on IIPM Article
dia, festival season actually began with Onam and banks are looking very seriously at this period. Banks, which predominantly have a strong foothold in southern India, have started to market their schemes, especially towards Non Resident Indians (NRIs). For example Federal Bank, which has a strong presence in Kerala, has launched a special scheme for NRIs who could use Federal Bank’s remittance facility (FedFast). Commenting on the new offer, Venugopalan of Retail Banking division of Federal Bank told B&E, “We have about 400,000 NRI customers availing of our facilities and services on offer. Federal Bank has remittance arrangements with about 28 exchange houses throughout the GCC (Gulf Cooperation Council) countries, thus making it convenient for customers to send money.” There is some reprieve for those who wish to avail loans. Many banks are aiming at waiving off documentation, services, upfront fees et al to rope in more customers. Ranjiv Walia, Business Head, Consumer Loans, ING Vysya, told B&E, “ING Vysya Bank has lined up a series of exciting campaigns at many locations during the festive season. The campaigns would be targeted for ‘Home Loan’ & ‘Personal Loan’ customers.” The bank plans to waive 50% off processing fee.For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2007
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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