Federal Bank, Kerala based private sector bank, has unveiled FedBook, an electronic version of the traditional bank passbook. This new service will allow the customers to freely download and install the application on their smart devices. Unlike mobile banking, customers need not fill any application form- just download the application and start using it. FedBook App is currently available for Android based smartphones only. The application will be available for Blackberry, Windows and iPhone soon.
Federal Bank is the fourth largest bank in India in terms of capital base and can easily boast of a Capital Adequacy Ratio of 17.23%, one of the highest in the industry. This along with the existence in a highly regulated environment has helped the bank to tide over the recession with minimum impact to its financial stability.