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investment banking

By : Leena Khade, Banc Assurance, Deutsche Bank
Industry : Banking Functional Area : Strategy Execution
Activity:  0 comments  5147 views  last activity : 07 06 2010 20:18:04 +0000

A new scheme called ‘Power Jyothi’ was launched by State Bank of India here recently for the benefit of students of Madurai Kamaraj University.

Under this scheme, students can pay the university fees anywhere in the country at a cost of only Rs.22 when compared to obtaining a draft at Rs.30.
The SBI branches across the country will accept the fees and credit it to the Madurai Kamaraj University account simultaneously.

The account numbers are: MKUA/C 30983167593 and MKU Directorate of Distance Education A/C 30787432001.

Fees will be credited to the university account with all details like student’s name, course, year, enrolment number and fee details so that it could be verified at a later date.

The charge for paying the university fees is cheaper than charges for demand draft and it would be beneficial to both the students and the university.

This facility was launched recently by R. Karpaga Kumaravel, Vice-Chancellor, MKU.

We can now see new  product innovation and the different technology improvements in the Banking industry. What do you think will be the next move in the banking sector which can create a revolution in the Indian Banking Industry?

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