Friday, 17 April 2015

Health Insurance and the ‘Humpty Dumpty’ Syndrome

We all know that popular nursery rhyme about Humpty Dumpty. You know, the one where Humpty sat on a wall, had a great fall, then couldn’t be put together again.

Well, that pretty much sums up the precarious financial situation of a large number of Indians. With medical inflation skyrocketing, statistics show that the average Indian is just one major ailment away from plummeting into financial despair. And much like poor ol’ Humpty, without health insurance to cushion this fall, most might never quite find themselves the same again.

Health insurance helps people access quality healthcare by meeting policyholders’ financial requirements during times of medical uncertainty. Yet, health insurance penetration in India remains abysmally low. This, despite the existence of a competitive and growing health insurance industry providing affordable health insurance solutions to meet the varied needs of a wide cross-section of society.

Want to explore this story more then read about Health Insurance now.

Monday, 23 March 2015

Net Banking Made Easier By ING Vysya

Technology makes life easier! This might sound like a very unassuming statement but in reality the huge impact of modern technology is felt and experienced in every sphere of life. So how do two completely different aspects namely banking and technology work together? Simple. Banks have leveraged modern technology to provide state-of-the-art online banking solutions to speed up banking transactions, funds transfers and also help customers manage their bank accounts from anywhere across the globe. With the current generation being completely tech savvy, banks have unlimited potential to tap into. The traditional way of banking may never die, but banking via internet is the need of the hour. Internet banking needs to be quick and innovative with constant new developments, making transactions fast, easy and convenient.

Banks in India have been reporting a substantial increase in the usage in online banking services amongst customers. Every bank in India has a user friendly web portal built to provide the feature of net banking to all its customers. This has almost become a mandatory requirement to do banking in India, with even old and established financial institutions deciding to go the internet way. A certain realization that has dawned amongst Indian banks is that albeit their popularity and strong foothold in the market, adapting to a customer’s need and delivering on that is what makes a bank survive in the long run. With over 80 years of banking experience and being one of India’s premier financial institution, ING Vysya Bank has also jumped onto the net banking bandwagon in an effort to increase its customer base.

Net Banking from ING Vysya

Committed to excel in every aspect of banking, ING Vysya provides a complete range of online banking services with a bundle of features for all its customers. Account holders can pay utility bills, transfer funds via NEFT or RTGS, place requests for credit instruments, recharge their mobiles and also shop online using their ING Vysya net banking accounts. All that a customer needs to do is to register using his mobile number and ING Vysya debit card in just three easy steps. Customers can also track their loans, get credit card account statements and manage their Demat accounts by linking them to their respective net banking accounts. ING Vysya offers a completely secure banking platform with logins, automatic lock-ins after three failed attempts and a virtual keypad feature for all its customers. ING Vysya’s integrated Wealth Management solutions help customers make investments using their online banking accounts and also efficiently manage them.

Funds transfers can be done instantly or through scheduled transactions using ING Vysya’s net banking services. Instant transfers can be done using the IMPS platform and standing instructions can also be placed for the same. ING Vysya’s net banking services allows a customer to transfer funds to other ING Vysya accounts or any other bank account across India using National Electronic Funds Transfer (NEFT) or Real Time Gross Settlement (RTGS). Both these platforms require IFSC codes for initiating and completing a fund transfer. For intra-bank transfers, customers need to be aware of ING Vysya Bank IFSC codes pertaining to the branches they intend to make transfers to. NEFT transfers do not have a transaction limit set but ING Vysya Bank mandates that a RTGS transaction can only be done for transfers of Rs 2 lakhs or more. Both these types of transactions are processed on the same day by the bank and can also be scheduled for future dates as per the customer’s requirements. ING Vysya has increased intra-bank transfer limits to 10 lakhs per day for customers using any platform to perform their transactions.