The money was allegedly diverted by an ATM servicing company in criminal conspiracy with bank officials.
The ambiguity arose after notices were sent to lenders for non-payment of service tax under the pre-GST regime
Arundhati Bhattacharya, chairman of country's largest lender State Bank of India said demonetisation of high value notes won't be a problem as the bank has done it before.
India Post may be keen to apply for payment bank licence.
A 35-year-old Chinese man was apprehended by the Border Security Force (BSF) from along the India-Bangladesh international border in West Bengal on Thursday, with the paramilitary force saying security agencies are probing if he was working for an intelligence agency of the neighbouring country, officials said.
The currency ban has changed the lives of the people facilitating this move across India.
Promising swift action on the debit card data compromise issue, Economic Affairs Secretary Shaktikanta Das on Friday said there was no need to panic over the feared security breach that affected over 32 lakh cards.
No untoward incident has been reported from the district over the past three days.
While lenders create a hype around the services offered on digital platforms, customers think otherwise, given that frustration due to the quality of service has only increased, over the years.
'The credibility of the messenger here is highly suspect. This is something which the global community is aware of'
The driver was arrested in the wee hours of Friday from a godown in Okhla area where he was hiding
Reports from Ludhiana, Coimbatore, Moradabad, Tirupur, Indore, Surat, Delhi, Mumbai, Kolkata, Chennai and Hyderabad, suggest the impact of demonetisation is worsening.
These include all kinds of ATM transactions. In short, you will be allowed eight free transactions, after which there would be a levy, which should suffice for most people.
The home ministry has deputed three top officials to be in touch with state governments to ensure security of banks, ATMs and cash transporting vehicles.
The decision, the Reserve Bank of India said, "is expected to revolutionise the retail payments system of the country".
Dairies, milk plants, grocery shops, chemists and petrol pumps, ATMs, e-commerce services of essential items like food and medicines will remain open, he said.
Eco affairs secretary says double counting possible; cash availability to improve in three weeks.
The tiny Central American nation of El Salvador has embarked on an interesting experiment by recognising bitcoin as legal tender. This is proving painful for many of its citizens but it's a useful "pilot" project for larger economies that are contemplating the peculiarities of this new asset class. El Salvador has a population of 6.5 million and GDP of about $27 billion.
We sifted through the complaints that landed on our desks and dug out the issues that were most striking and uncommon when it came to debit cards.
Ajit Balakrishnan offers a New Year resolution for our policy-makers.
Maharashtra Chief Minister Uddhav Thackeray announced a statewide curfew for 15 days from 8 am on April 14 to contain the rapid spread of the coronavirus in its second wave. With Section 144 being imposed across the state, Thackeray essential services have been exempted from the restrictions. The curfew will be in place till 7 am on May 1.
With the arrival of new players such as Amazon Pay, Google Tez and Flipkart's PhonePe, digital money companies are now changing their business pitch.
Customers will not be able to conduct transactions in banks for 4 days in a row as they will be closed from Thursday in many states.
The Aadhaar-enabled payment system, or AEPS, allows consumers who don't have smartphones or debit cards to perform basic banking transactions like cash deposit, cash withdrawal, intrabank or interbank fund transfer, balance enquiry and obtaining a mini statement through biometric authentication at micro-ATMs.
This was among the few times that TCS had to deploy rapid application development mode, which means changes in the application happen on-the-go.
Reports suggest this lot could fetch the cybercriminal as much as $130 million upon sale.
Whether it's about colonising Mars or donning Net-connected apparel, 2022 is a year everyone seems to be planning for, says Nivedita Mookerji.
Microsoft will stop technical support for its most popular operating system (OS) Windows XP globally from Tuesday, bringing down curtains on the software giant's longest running OS.
ICICI bank waives ATM charges.
Satish Kumar, a resident of Uttam Nagar and who used to work as a vegetable vendor in Keshopur Mandi, collapsed outside an Oriental Bank of Commerce branch, on Najafgarh road, while he was standing in a queue with his friends.
Going to the bank and using your passbook to find out your bank balance while still available and widely used, technological innovations have brought your bank at your fingertips.
Unlike any other national asset, which is typically sold to the highest bidder, the profile of the bidder is the most important criterion for a licence to bank, and even for acquiring more than 5 per cent stake, explains Tamal Bandyopadhyay.
In a business friendly move, the Reserve Bank of India on Friday said that Real Time Gross Settlement System (RTGS), used for large value transactions, will be made available round-the-clock from December. In December 2019, the National Electronic Funds Transfer (NEFT) system was made available on a 24x7x365 basis. Currently, RTGS is available for customers from 7.00 am to 6.00 pm on all working days of a week, except second and fourth Saturdays of every month.
All documents and data were safe as there was a Disaster Recovery Centre for every bank
RuPay National Common Mobility Card's offline wallet can be used to make ticket payments in transit, including in metros, cabs, etc, enabling automatic, quick, cashless payments.
Satish Kumar Bhat, 47 from Delhi shared some suggestions that he feels may help fight coronavirus.
The RBI has set up a panel to review ATM charges, and fees levied by banks.
Banks are in a tight spot as ministry wants them to open ATMs at all rural branches
Banks will remain open for the public even on the weekend
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