Milestones

  • 2023-2024
    • Federal Bank becomes the first Bank in India to unveil Gen-AI Search functionality for its Corporate Website.

      • Federal Bank becomes one of the earliest private sector banks to launch NCMC integrated Debit cards. National Common Mobility Card (NCMC) is a feature introduced on RuPay Contactless Debit Card which allows card holders to make payments across NCMC enabled terminals at metro stations, buses, etc in an offline mode within fraction of second, just by tapping the card on the card reader. NCMC is equipped with multiple functions, including stored value payments (currently up to Rs.2000/- and subject to change as prescribed by RBI from time to time) to simplify travel across different modes by digitizing payment.
      • Federal Bank Unveils Its Sixth Federal Skill Academy in Ambattur, Chennai. Federal Skills Academy is a CSR initiative of Federal Bank aimed at providing skill training and employment opportunities for youth from economically backward segments. 
    • International Finance Corporation (IFC), a World Bank group has recognised Federal Bank as the top performer of the 2023 Climate Assessment for Financial Institutions (CAFI) Awards for Climate Reporting. Out of the 258 financial institutions globally participating in climate reporting through the CAFI tool, Federal Bank emerged as a standout performer.

    • Federal Bank introduced UPI Lite for Effortless Small-Value Digital Payments.

      • Bank issued it's first electronic Bank Guarantee in partnership with NeSL (National e-governance Services Limited). With this new digital initiative, we do away with procuring physical stamp paper, printing of the documents, stamping of the documents and signing of the documents. The Electronic Bank Guarantee is convenient for the customers (applicants) as well, as the customer doesn’t have to carry the bank guarantee (in physical form) to the beneficiary and hand it over to them.
      • Bank launched UPI facility for its NRI customers. We are the second bank in the country to enable UPI transactions in NRE/NRO accounts having international mobile numbers updated. 
      • Bank launched a new Apartment Management Platform COLLECT-PRO. The new platform is customizable and is designed to cater to collection management requirements from all categories of customers. COLLECT-PRO is integrated with BBPS eco system which facilitates clients of customers to choose their convenient payment mode for making the payment.
    • Bank introduced Lifetime Free Credit Card offer, under which Federal Credit Card holders can enjoy Zero Joining Fee and Zero Annual Membership Fee for the entire life term.