2017-10-17 :Chatbots give ways to profitable conversational banking
HDFC Bank launched its chatbot called OnChat in December 2016 and the number of users have grown 160 per cent month-on-month up to September 2017 , with over 2.4 million messages. The messenger has opened up new channel for customer acquisition, with nearly 25% of OnChat users being non-HDFC Bank customers. The bots have acquired popularity mainly because the option to escape the limited options and delays of the traditional phone banking. Major banks such as YES, ICICI and SBI have also made their messengers available.
2017-10-17 :ATM additions slow down; focus on e-money
As per RBI data, the number of ATMs added by banks has collectively increased by only 93 in the April-August 2017 period compared with 4,936 additions in the year-ago period. On the other hand, banks have increased point-of-sale (PoS) terminals during this period, rising by 3,53,281 compared with 1,11,101 in the corresponding period a year ago.
2017-10-17 :Outstanding retail housing loan on a growth surge
Housing loans, including priority sector housing has seen a growth of 29.4% from Rs. 863,645 crore in July 2015 to Rs. 667,158 in July 2017. The growth can be credited to the the banks in their bid to expand their credit portfolios.
2017-10-17 :Advances against FDs slow down
In the two year period from July 2015 to July 2017, the advances made my banks against fixed deposits have reduced by 0.2%. This can be mainly due to the new found audacity of banks to disburse unsecured loans.
2017-10-17 :Strong growth in vehicle loans of banks
Vehicle loans for all banks have seen a significant growth of 15% at Rs. 172,553 crore in 2017 as against Rs. 130,529 crore in 2015 and Rs. 157,494 crore in 2016. The growth is the result of the increased focus of banks on growing their retail loan portfolio.
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