UCO visa debit card for mobile recharge.

Please follow the following steps for using UCO VISA international Debit Card to recharge your mobile:

Visit www.rechargeitnow.com

Create your own user id and password for this site by clicking “new users register”.

Sign In with your newly created user id and password.

Select the mobile service provider by clicking on the appropriate icon.

Give the number of your mobile and click on ‘go’.

Give the amount and click on ‘continue’.

In the next page select payment option as ‘debit card’ and further details as visa debit card.

In the next page select other bank visa/master card and give the 16 digit number of our card, expiry date and cvv. ( Please see the back side of the ATM card to get cvv which is of 3 digits number).

Click next will take you to another page were we have to give the verified by visa card password created by you.

Clicks submit.

The process is almost same for online payment for other facilities such as airline ticket booking, purchase of books, and donation to religious institution, universities, Government payment etc.

Properties of Money

1)         Money Serves as a Medium of Exchange:

-           A medium of exchange is the property of money that exchange is made through the use of money.

2)         Money Serves as a Unit of Account:

-           Unit of account is the property of money that prices are quoted in terms of money.

-           Money provides a convenient measuring rod when prices for all goods are quoted in money terms.

-           Money can be used to compare the relative value of goods, making it easier to carry out economic transactions.

3)         Money Serves as a Store of Value:

-           Store of value is the property of money that it preserves value until it is used in an exchange.

-           From the time you receive a payment until the time you make payment; you can use money to store value.

# What borrowers want?

-           Long term loan

-           Minimum Interest 

-           Minimum risk and transaction cost

# What lender wants?

-           Maximum liquidity

-           Maximum return

-           Maximum risk and transaction costs

# Money Market- The money market is a component of the financial markets for assets involved in short-term borrowing and lending with original maturities of one year or shorter time frames. Trading in the money markets involves Treasury bills, commercial paper, bankers' acceptances, certificates of deposit, federal funds, and short-lived mortgage-backed and asset-backed securities. It provides liquidity funding for the global financial system.

# Net worth - The amount by which assets exceed liabilities is called net worth. This term can be applied to companies and individuals or is the difference between assets and liabilities.

(Source-Internet)

Important Abbreviations

ABCP – Asset Backed Commercial Paper

ABS – Asset-Backed Securities

ACMA – Automobile Components Manufacturing Association of India

AD – Authorised Dealer

ADF – Augmented Dicky Fuller

ARM – Adjustable Rate Mortgages

BCBS – Basel Committee on Banking Supervision

BIS – Bank for International Settlements

BoP – Balance of Payments

BPO – Business Process Outsourcing

CAD – Current Account Deficit

CBRG – Cross-Border Bank Resolution Group

CBO – Congressional Budget Office

CDOs – Collateralised Debt Obligations

CDS – Credit Default Swaps

CESR – Committee of European Securities Regulators

CFPA – Consumer Financial Protection Agency

CMBS – Commercial Mortgage-Backed Securities

CP – Commercial Paper

CPI – Consumer Price Index

CPFF – Commercial Paper Funding Facility

CPSS – Committee on Payment and Settlement Systems

CRAs – Credit Rating Agencies

CRAR – Capital to Risk-Weighted Assets Ratio

CRR – Cash Reserve Ratio

CVD – Countervailing Duty

EC – European Commission

ECB – European Central Bank

Ecofin – Economic and Financial Affairs Council

EMEs – Emerging Market Economies

EMPI – Exchange Market Pressure Index

ESF – Exogenous Shock Facility

ERM – Exchange Rate Mechanism

ESFS – European System of Financial Supervisors

ESRC – European Systemic Risk Council

FASB – Financial Accounting Standards Board

FBT – Fringe Benefit Tax

FCL – Flexible Credit Line

FDI – Foreign Direct Investment

FDIC Federal Deposit Insurance Corporation

FHCs – Financial Holding Companies

FHLMC – Federal Home Loan Mortgage Corporation

FIIs – Foreign Institutional Investors

FIPB – Foreign Investment Promotion Board

FSI – Financial Stress Indicator

FNMA – Federal National Mortgage Association

FSA – Financial Services Authority

FSCS – Financial Services Compensation Scheme

FTC – Federal Trade Commission

GAAP – Generally Accepted Accounting Principles

GDP – Gross Domestic Product

GECC – Global Economic Co-ordination Council

GFD – Gross Fiscal Deficit

GFSR – Global Financial Stability Report

GIMF – Global Integrated Monetary and Fiscal

GPRF – Global Food Crisis Response Programme

GSDP – Gross State Domestic Product

DTA – Domestic Tariff Areas

HFCs – Housing Finance Companies

HP – Hodrick-Prescott

HKMA – Hong Kong Monetary Authority

IASB – International Accounting Standards Board

IFC – International Finance Corporation

IFRS – International Financial Reporting Standards

IIFCL – India Infrastructure Finance Company Limited

INFRA – Infrastructure Recovery and Assets

IMF – International Monetary Fund

IMFC – International Monetary and Financial Committee

IOSCO – International Organization of Securities Commissions

IPAs – Issuing and Paying Agents

IPOs – Initial Public Offerings

IRB – Internal Rating Based

IT – Information Technology

ITEs – Intra-Group Transactions and Exposures (ITEs)

ITES – Information Technology-enabled Services

LAF – Liquidity Adjustment Facility

LCBGs – Large and Complex Banking Groups

LCD – Liquid Crystal Display

LIBOR – London Inter-Bank Offer Rate

LOLR – Lender of Last Resort

MAS – Monetary Authority of Singapore

MBS – Mortgage Backed Securities

MFIs – Micro-Finance Institutions

MIBOR – Mumbai Inter-Bank Offer Rate

MIGA – Multilateral Investment Guarantee Agency

MSMEs – Micro, Small and Medium Enterprises

MSS – Market Stabilisation Scheme

MTM – Mark-to-Market

M&As – Mergers and Acquisitions

NAB – New Arrangements to Borrow

NBFCs – Non-Banking Financial Companies

NBS – National Bank Supervisor

NCBP – Non-Concessional Borrowing Policy

NDA – Net Domestic Asset

NDTL – Net Demand and Time Liability

NFA – Net Foreign Assets

NFC – Non-Food Credit

NMF – Investment by Mutual Funds

NPLs – Non-Performing Loans

NRSROs – Nationally Recognised Securities Rating Organisations

OBSVs – Off-Balance Sheet Vehicles

OCR – Ordinary Capital Resources

OECD – Organisation for Economic Cooperation and Development

OIS – Overnight Indexed Swap

OLS – Ordinary Least Squares

OMO – Open Market Operation

ONI – Office of National Insurance

OTC – Over-the-Counter

OTD – Originate-to-Distribute

OTH – Originate-to-Hold

OTS – Office of Thrift Supervision

OBSEs – Off-Balance Sheet Entities

PDIC – Philippine Deposit Insurance Corporation

PDs – Primary Dealers

PPAC – Petroleum Planning Analysis Cell

PPP – Public Private Partnership

PRGF – Poverty Reduction and Growth Facility

PVAR – Panel Vector Auto-Regression

REER – Real Effective Exchange Rate

RMBS – Residential Mortgage-Backed Securities

RWA – Risk-Weighted Assets

SEBI – Securities and Exchange Board of India

SEC – Securities and Exchange Commission

SEP – Supervisory Enhancement Programme

SEZs – Special Economic Zones

SHGs – Self-Help Groups

SIDBI – Small Industries Development Bank of India

SDL – State Development Loan

SIVs – Structured Investment Vehicles

SLR – Statutory Liquidity Ratio

SMEs – Small and Medium Enterprises

SMO – Special Market Operation

SSMB – Standard Setting and Monitoring Body

SSIs – Small-Scale Industries

StAR – Stolen Asset Recovery

S&L – Savings and Loan Associations

TAF – Term Auction Facility

TARP – Troubled Asset Relief Program

TFFP – Trade Facilitation Programme

TUF – Technology Upgradation Fund

UNWTO – United Nations World Tourism Organization

VAR – Vector Autoregression

WADR – Weighted Average Discount Rate

WEO – World Economic Outlook

WTO – World Trade Organisation

This Report can also be accessed on Internet URL : www.rbi.org.in

Advantages of Mobile Banking

Mobile banking offers banking services on a mobile phone. Mobile banking service is primarily available over SMS (Short Messaging Service) or through GPRS (General Packet Radio Service) or sometimes through USSD (Unstructured Supplementary Service Data). The services available are:

Ø  Funds transfer (intra and interbank)

Ø  Balance enquiry services/mini statements

Ø  Request services (cheque book)

Ø  Utility bill payments and credit card payments

Ø  Demat account services

Ø  Mobile top up

Ø  Merchant payment, life insurance premium

Ø  Stop payment instructions

Advantages of Mobile Banking

Ø  Providing banking service to unbanked areas and to those customers who otherwise would not have got the banking service.

Ø  The wage earners staying away from their homes and finding it difficult and expensive to remit money to their families, can send money instantly through mobile banking

Ø  The wage earners can do bank transactions without visiting the bank. The advantage being that they do not lose a day’s wages which they would otherwise lose by going to the branch for getting any banking service.

Ø  All non cash banking requirements can be carried out using mobile phones.

Registration of UCO m-Banking through ATM

1.    Visit any UCO Bank's ATM to register

2.    Inserts ATM card in the ATM machine

3.    Enter ATM Card's PIN

4.    Select “Other Services” ---> Mobile Banking Registration

5.    Enter Mobile number (only  10 digits )

6.    Select <Confirm> button.

7.    Select the Account Type options <CURRENT> or <SAVINGS>

8.    Collect the print out of the message "Your Mobile Number Registered successfully"

After successful registration, 2 messages will sent to the registered mobile number that provide mBanking Application URL link for downloading and Application password and MPIN respectively.

9.    Now, click on the URL link in the SMS message and downloads the Mobile Banking application on Mobile.

10.  The Icon for UCO m-Banking will appear on Mobile.

Modification in UCO Dhan-Varsha Fixed Deposit Scheme

 Salient features of the new fixed deposit scheme ‘UCO DHAN-VARSHA’ are as under:

1.    The scheme would be applicable from May 10th, 2012 and will remain valid up to September 30th, 2012 (extension of the scheme duration revised w.e.f.01/07/2012). However, the Bank would reserve the right to modify, withdraw or extend the scheme anytime without any prior notice.

2.    Eligible Depositors under the Scheme would be same as eligible depositors in Fixed Deposit Scheme currently available in the Bank.

3.    Period of Deposit: 444 days

4.    Amount of Deposit Minimum Amount: ` 5000/- and thereafter in multiples of 1000/-. Maximum Amount:  5crore (enhancement of maximum deposit cap revised w.e.f.06/08/2012)

5.    Rate of Interest:  9.25% per annum compounded quarterly. The quarterly compounding would be done for the first four quarters and simple rate of interest would be paid on the compounded amount after the four quarters for the remaining number of days of the above deposit period. In addition to the payment of interest along with the principal at the time of maturity, Interest payment (at the option of the customer) is allowed also at quarterly rests.

6.    In all cases of premature withdrawals, the interest would be payable at 1% below the applicable rate under the normal fixed deposits for the period for which the deposit has remained with the Bank as on the date of deposit or present rate, whichever is lower.

7.    Facility for availing loan/overdraft against Deposits under the Scheme would be available as per existing guidelines for availing loan/overdraft against Bank’s own Fixed Deposits.

8.    The facility of nomination would be available under the Scheme.

9.    In the event of the death of the depositor, the deposit would be paid to the nominee/legal heirs as per the existing rules

10. No auto renewal is permitted under ‘UCO Dhan-Varsha Fixed Deposit Scheme’.  However, wherever no specific instructions are received from the depositors. Maturity proceeds will be renewed for a period of 1 year under Banks Normal Term Deposit Scheme

11.    Tax would be deductible at source as per the prevailing Income Tax rules

12. Transfer of Fixed Deposit under the Scheme within any branch of the Bank would be permissible without any charge as per the existing procedure.

13. Senior Citizen : Additional 0.50% or @ 9.75%

Modification in UCO Dhan-Varsha Fixed Deposit Scheme

The pattern of Deposit under UCO Dhan-Varsha fixed deposit schemes for 444 days has undergone a little modification. The maximum deposit amount of Rs. 100 lac is now enhanced up to Rs. 500 lac. There is no change in minimum amount of deposit i.e. Rs 5000/- and deposits in multiples of Rs. 1000/-thereof.

Registration of UCO m-Banking through ATM

1.    Visit any UCO Bank's ATM to register

2.    Inserts ATM card in the ATM machine

3.    Enter ATM Card's PIN

4.    Select “Other Services” ---> Mobile Banking Registration

5.    Enter Mobile number (only  10 digits )

6.    Select <Confirm> button.

7.    Select the Account Type options <CURRENT> or <SAVINGS>

8.    Collect the print out of the message "Your Mobile Number Registered successfully"

After successful registration, 2 messages will sent to the registered mobile number that provide mBanking Application URL link for downloading and Application password and MPIN respectively.

9.    Now, click on the URL link in the SMS message and downloads the Mobile Banking application on Mobile.

10.  The Icon for UCO m-Banking will appear on Mobile.

Verified by VISA

¢  Verified by Visa (VbV) is an easy to use, secured online payment service from UCO Bank that lets our customers secure online shopping using UCO Bank Visa Debit Card.

¢  Cards must be registered for VbV through the link provided in UCO Bank Website.

¢  At the time of on-line payment the customer can select any VISA payment gateway.

¢  At the time of on-line payment the customers has to provide the 3D-secure password selected by the customer  at the time of Registration process of VbV.

¢  With the power of Visa Debit cards, making online payment is simple and safe.

¢  Followings are the simple steps to do VbV:

1.    Open UCO Bank Website www.ucobank.com.

2.    Select Verified  by VISA

3.    Click on Register button { Existing users have to Enter Card Number, Password & click on Login Button to Login}

4.    Accept all terms & conditions and Click on “I Accept” button

5.    Enter ATM card number

6.    Enter ATM Expiry Date  

7.    Enter ATM PIN

8.    Now, click on “Next” Button.

9.    Enter other required details and

10. Click on “Submit” Button

(Remember the password for further transactions)

Mobile Recharge through UCO m-Banking

Follow the steps described below for recharging your mobile with Rs 10/- to Rs 10000/- using UCO m-banking facility on your mobile set:-

1.    Click on UCO m-Banking application

2.    Enter Password to Login

3.    Select My Services from Main Menu

4.    Select Mobile Recharge option from My services menu

5.    Select Recharge option

6.    Enter mPIN

7.    Enter Mobile Number

8.    Press OK

9.    Press Yes

10. Enter Amount (Minimum 10 & Maximum 10000)

After this steps mobile will be recharged and 2 sms will be received. The one sms will have message as: “Your payment is successful. No further steps are required to be followed by the customer-UCO mBanking”.

The other sms will have message related to the recharge amount.