01st Dec 16 RBL Bank launches Aadhaar based disbursement of micro loans
Ratnakar Bank has launched Aadhaar Payment Based System (APBS) scheme for micro loan disbursements. With this, RBL becomes the first bank to provide cashless disbursement of micro loans. Under the new system, the bank will transfer the loan amount directly to the Aadhaar enabled bank accounts of micro loan borrowers.
29th Nov 16 RBL Bank ties up with Bajaj Finance to launch co-branded credit cards
RBL Bank has announced a partnership with Bajaj Finance to launch a series of co-branded credit cards. The card will have many customer friendly features such as no cost EMIs, low interest rates and digital payment solutions along with other attractive offers and deals. The card will be targeted at customers who do not hold a credit card, both in metro and non metro cities.
17th Nov 16 RBL becomes first bank to bring master pass QR mobile payments to India
Ratnakar Bank becomes the first bank to bring QR code based mobile payments to India. Customers can make payments using Mastercard Masterpass QR mobile payment solutions. Bank has integrated Masterpass QR service into its mobile platform called OnGo digital wallet in conjunction with India Transact Services. The digital wallet will host prepaid Mastercard user to make cashless transactions.
08th Oct 16 Small Scale Industries - RBL Bank, NeoGrowth and OPIC sign pact to finance SME in India
RBL Bank, Neo Growth Credit Pvt. Ltd and Overseas Private Investment Corporation (OPIC), the U.S. Government development finance institution have jointly committed to provide financing for small and medium enterprises (SMEs) in the Indian retail space. RBL Bank loan will allow Neo Growth to provide loans ranging from Rs. 200,000 to 7,500,000 to the retail SMEs.
22nd Sep 16 Ratnakar Bank has reduced its MCLR from 22nd September, 2016
Ratnakar Bank has reduced its Marginal Cost Based Lending Rates (MCLR) across maturities, effective from 22nd September, 2016. The overnight, 6 month and 1 year has been reduced by 15 basis points to 10.00, 10.35 and 10.40 per cent respectively. The 1 month and 3 month MCLR has been reduced by 20 basis points to 10.00 and 10.15 per cent respectively. Similarly, 2 year MCLR has reduced by 10 bps to 10.40 per cent and 3 year MCLR reduced by 5 bps to 10.50 per cent. For borrowers who have taken floating rate home loan from Ratnakar Bank after April 1, 2016, the reduction in MCLR will translate into a reduction in their home loan rates.
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