axis bank formerly uti bank

In the old days only PSU banks like SBI, SBT, Indian Bank, Canara Bank were common in Kerala. There were some other banks like Federal bank also.I and membeers of our family used SBI bank. But when UTI bank and other non PSU banks started opening branches, we would watch that with bemusement.

We wanted to send some subscription for an online game. When we enquired at SBI, the older generation staff was not sure of the options/method for sending the subscription. That was when we went round searching for the facilities in other non PSU banks.

UTI bank was renamed as Axis bank.

When I went to open a savings bank account in Axis Bank, the staff was very courteous and told us about the documents required to open the account. This was very different from the indifferent and unwelcoming attitude of the staff in a Catholic Syrian bank branch, where I had gone with a friend who wanted to open an account there.

After the application form etc were submitted with the required documents, the account was opened within a very short time. The debit card and password /pin etc arrived by speed post / courier within a few days.

The minimum balance for the SB(sbeazy) was Rs.5000/-

Later on I started a fixed deposit also with quarterly interest payment. I was able to do the whole work online, and the bank sent the reciept for the fd by post to me.
The bank pays the interest quarterly according to the financial year quarter, while SBI pays the interest quarterly, a quarter year from the day of deposit.

The website is at axisbank.com .
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blue chip stocks

Blue chip stocks

Almost everyone who is remotely interested in investing in the stock market must have seen a list of examples of so called best or top blue chip stocks.

The price volatility of so called blue chip stocks which are recommended for long term portfolios are assumed to be lower than other stocks. But some of the so called blue chips like Maruti Suzuki, Infosys technologies etc have crashed by 10% or even more recently.

The PE (price to earning) ratios of so called blue chip stocks are usually much more higher than other stocks. So any hint of slow growth in earnings, or any negative news on the management front seem to send these stocks (or for that matter any stock) into a tailspin.

The dividend yield of some of these so called blue chip stocks like bharti airtel are also very very low. Some time back, the stock had fallen a lot when per second billing was introduced, and also when it was acquiring Zain in Africa.

It is quite interesting to see the dividend yield of some of the so called best blue chip stocks.

Another stock like NTPC has fallen off a lot following the FPO offering.

Some of the stocks like ONGC have shown a lot of zig zag motion with news of the FPO offering.

Some stocks like SBI etc have started to go back after a big fall during the time when rates were going up with high inflation though it is not clear if the upmove can be sustained.







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SBI , state bank of india

state bank of india or SBI was where my parents had an account. In the old days there were not many private/foreign banks . So I also got my first bank account at SBI. In those days, there were no computers and records were kept in writing in ledgers, The pass book was smaller and had a plastic jacket and fit nicely into your shirt pocket. There was no ATM . If you wanted to withdraw money, you had to go to the bank during the working hours.
In those days the interest rates were nicer. For example, the PF (provident fund ) interest rate was more than 11%.
Then they introduced computers. The pass book became bigger and would not fit in the shirt pocket. Initially the
computer network seemed to be restricted inside the particular branch and the software ran on something that looked like dos and was pretty fast.

Then after sometime they introduced something like core banking, which was networking across the whole country. In the beginning , this led to a slowdown in the service because of problems in the network.
There were some problems in some other parts of India due to flood in Bombay some years back.

Even now updating the passbook is sometimes a problem during busy periods. Sometimes the printing is way off the mark and prints over previous records rendering them illegible, and the teller has to reprint the whole thing on a new page.

But on the plus side you have atm withdrawls. sbi has many atms in most cities. In kerala , there are other state banks like SBT which also have atms. You also have online access to your account through onlinesbi.com.
If you give a form for online access , they will give you a kit with initial login name and password. But it takes about one day for the access to be activated. For online transaction of money using neft , you also need to register your cell phone ( for getting the transaction password ), You get an online form/receipt when you do it, whose copy (written / printout) has to be taken to your branch before the registration is complete.



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