Union Finance Minister Shri Arun Jaitley Dedicates Fedbook Selfie to the Nation

Hon. Union Finance Minister Shri Arun Jaitley dedicated to the nation FedBook Selfie, India’s first Mobile App for Bank Account Opening from Federal Bank, in the presence of the Bank’s MD & CEO Shri Shyam Srinivasan at a function held at Kochi today.

Federal Bank, which has consistently pioneered product innovations, has introduced this unique facility of Mobile based Bank Account Opening as an upgrade to FedBook, its e-Passbook App, which in itself was a trendsetter at the time of its launch two years ago. Using the App, anyone having an Aadhaar Card and PAN Card, be it from rural or urban centres, rich or poor, youth or aged, can now open a Savings Bank Account on a smart phone  from anywhere at any time and get their Live Account Number instantly. Further, the account can also be funded with an initial remittance not exceeding of Rs. 10000.

To open an account, one has to just download FedBook in their Mobile and follow 3 easy steps- that of taking a selfie, scanning Aadhaar and PAN Card. The App verifies the Aadhaar real time and opens the account on the click of a button. Once the account is opened, the App turns itself into the digital passbook for the customer.

With its intuitive features, FedBook makes Account opening convenient, simple and joyful.  The App is currently available on Android and iOS phones.

About Federal Bank:

Federal Bank is a leading Private Sector Bank with a branch network of 1,251 branches and 1514 ATMs spread across the country. The Bank’s total business mix (deposits + advances) stands at Rs 1.22 Lakh  Crore as at March 31, 2015 and it has earned a net profit of Rs 1005.75 Crore.  Bank’s Capital to Risk weighted Ratio (CRAR) stood at 15.46% at the end of March 31, 2015.  Federal Bank has its Representative Office at Abu Dhabi that serves as a nerve centre for NRI customers in the UAE. Federal Bank is transforming itself, keeping its principles intact, into an organization that offers services beyond par. It has a well defined vision for the future as a guidepost to its progress.