RBI has imposed a withdrawal limit of Rs. 10,000 per transaction at the third-party ATM as well as limited such transactions to 5 per month.
It is likely he will rope in an international ATM manufacturer as a strategic partner with equity stake.
Close to 29 per cent of all complaints received from customers is related to ATM, debit card and credit card payments
It is suspected that the electronic device at the ATM counter enabled the fraudsters to collect the secret pin code and card details.
Here's how Ganesh Pillai got his card back from the ATM machine.
The 35-year-old Gabrial, one among four Romanians accused in the robbery in which a large number of persons lost their money from their accounts, was taken into custody on transit remand from a court in Mumbai.
'Oh, this is printed material which is sent to everyone along with the ATM card,' the bank manager told me. 'It won't work because the system has changed.' A Ganesh Nadar encounters the Indian banking system.
Rediff reader Shan Anbu, 42, tells us how his card got stuck in the ATM due to lack of backup power facility.
Laxman Maake, 47, tells us why he is disappointed with the ATM that he often goes to.
A representative of the Confederation of ATM Industry said ATM players were not consulted about the move and they received the news via media platforms.
Isha was the custodian of the cash at the time it was being placed in the ATM.
Private sector lender Bandhan Bank on Friday said its founder, managing director and CEO Chandra Shekhar Ghosh has tendered his resignation. Ghosh would retire from the services of the bank as MD and CEO upon completion of his current tenure on July 9, 2024, the bank said in a regulatory filing. "After leading the bank for almost a decade, including three consecutive tenures as MD & CEO, I feel that the time has now come for me to assume a larger strategic role at Bandhan group level," Ghosh said in a letter addressed to the board.
In a pioneering move, Amul has launched India's first milk ATM.
Did the transaction fail? Did you receive your money on time?
The RBI also allowed banks to levy ATM charges beyond 5 transactions for the same bank's account holders.
Take a break and rest your tired heels in a dysfunctional ATM.
So what if your bank has imposed/will impose a transaction fee of Rs 20 for using ATMs after your fifth visit in a month? You can still remain within your free transaction limits and avoid being charged at all. Wondering how it is to be done? Read on.
The average, fixed cost of setting up an ATM is estimated at Rs 600,000-800,000. There are about 30,000 ATMs in India. The RBI norms will enable small banks to benefit from low-cost, switch-enabled ATM services without opting for expensive bilateral tie-ups.
Vatsal Ramaiya draws wisdom from the Bhagvad Gita and correlates it to how you can build a decent corpus to achieve a peaceful retirement.
They had also sought to be allowed to charge consumers for use of own-bank ATMs.
Readers share their bitter-sweet experiences at the ATM.
By the end of March 2022, only 2,140 million pieces of Rs 2,000 denomination currency notes were in circulation, or 13.8 per cent of the total value of notes.
Many sections of the society including small traders, restaurant owners, transporters started feeling the heat as the dependence on cash is very high
India is an under-penetrated ATM market with only 98 ATMs for every 10 lakh of population.
We may turn our noses up at those who do it but that doesn't mean we haven't done one (or all) of these things at an ATM.
The new fee structure would come into effect from July 1.
Sources at the bank told Business Standard that talks were on with 2-3 vendors and the final decision is expected in the next 2-3 weeks.
Even as RBI allowed banks to charge ATM transactions beyond five in metros, the lenders are yet to restrict the number of free withdrawals for their own customers at home ATMs.
A reader shares his shocking experience at the ATM.
Next time you go to a bank ATM, be ready to re-enter your PIN afresh for every transaction you wish to conduct, such as money withdrawal, balance enquiry and checking account details.
White labeled ATMs are set up by private non-bank companies that own and operate their own brand of ATMs.
The central bank said it had issued instructions to banks to ensure that under no circumstances forged banknotes got dispensed through ATMs or across exchange counters.
The DGCA has derostered the Air Traffic Controller (ATC) who was on duty at the time of the incident on Saturday, while IndiGo has initiated a probe into the matter
Valentin Boanta, sitting in his jail cell, proudly explains the device he has invented could make the world's ATMs impregnable even to tech-savvy criminals.
If you are have an account with State Bank of India, HDFC Bank or Axis Bank you will have to pay higher charges for using ATM more than five times a month.
Country's largest private sector lender ICICI Bank has announced a hike in its ATM charges for saving account holders from January 1 next year.
The Indian National Congress is in no way connected with the businesses of Dheeraj Sahu, MP. Only he can explain, Congress general secretary in-charge communications, Jairam Ramesh said.
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