Assets Worth Rs 40 Lakh Seized
The war between hackers and banks over ATM security will be dynamically redefined, notes Atanu Biswas.
'With a very stable technology with limited functionalities, a large network has spanned out.'
Banks have tightened their cyber security network to ward off any cyber threat in the wake of India launching missile attacks on Pakistan and Pakistan-occupied Kashmir. Banks have also improved their security at the branches near border areas due to heightened threat of a counter attack.
Interchange fee is the amount charged by ATM operators for every transaction.
The pani puri vendor is drawing attention with exclusive deals, including a lifetime unlimited pani puri offer for Rs 99,000 and a Rs 21,000 reward for anyone who can eat 151 pani puris in one sitting.
While a giant, it's a nimble-footed one, and is growing at a speed that even some of its private sector peers find enviable.
Between FY18 and FY24, it doubled its balance sheet. Despite being a late entrant in some segments, it has been able to grab market share, observes Tamal Bandyopadhyay.
The Reserve Bank on Monday permitted banks to allow minors above the age of 10 years to open and operate savings/ term deposit accounts independently. The Reserve Bank of India has issued revised instructions on opening and operation in the deposit accounts of minors.
A man was in for a pleasant surprise when he tried to withdraw Rs 500 from an ATM, but got five currency notes of Rs 500 denomination from the cash dispenser in Maharashtra's Nagpur district.
Anita Aikara forgot her card in the ATM after a transaction. Read on to find out what happened next...
The poor deployment of WLATMs has tripped what the central bank sought to achieve back in 2012.
'There are tall personalities who have utilised Mumbai and Maharashtra for their career growth, but they never thought it is their responsibility to learn Marathi.'
In response to the panic triggered by Trump's trade policies, the RBI net sold approximately $43 billion in the second half of FY25 to curb volatility, as the rupee plunged to a low of 87.95 per dollar in February this year.
Before inserting your card, always check for any signs of tampering on the ATM machine, warns Aditya Shankar.
Concerned over the inconvenience caused to the public due to the non-availability of cash in ATMs, the Reserve Bank has decided to penalise banks for failure to timely replenish currency notes in such machines. The RBI will start imposing penalty on banks in case the ATMs remain out-of-cash for a total period of 10 hours in a month from October 1, 2021, onwards. "The Scheme of Penalty for non-replenishment of ATMs has been formulated to ensure that sufficient cash is available to the public through ATMs," the RBI said in a circular.
In a video posted by RCB's X handle, Krunal Pandya spoke in the dressing room about two people and crucial moments that turned the tide in their favour.
In a bid to check fraud, the Reserve Bank on Friday decided to permit all banks to introduce card-less cash withdrawal through ATMs.
'It feels good to have all those 4 AMs and four sessions a day practising alone when nobody is watching, all those things paying off.'
Refusal to share his mPIN cost the businessman his life.
SBI to introduce OTP-based ATM transactions and the new feature will not require any major change in the present process to withdraw cash.
'If inner line permit was in place in Meghalaya, the details of the three people who allegedly murdered Raja would have been on record.'
The number of cyber crimes in India could touch 3,00,000 in 2015
Sanjiv Kulkarni's invention blends tradition with technology.
Using credit or debit cards abroad can prove costly.
179 million debit cards were issued during December 2016 to June 2018. A mere 2,000 ATMs were opened in the same period.
The victim was identified as Sanjay Sharma, a resident of the Achan area in the south Kashmir district, they said, adding that the incident took place at around 11 am.
In 2023-2024, 95 scheduled commercial banks received over 10 million complaints from their customers. The process of KYC at many banks has become 'HYC' -- harass your customer, points out Tamal Bandyopadhyay.
A reader shares a bad experience he had at an ATM. You can share yours too!
The new requirements include a shift to cassette swap system, mandate armed guards while transferring money as well as a host of other measures that would require huge investments.
More people are now comfortable using their debit cards.
In the first phase, ATMs would be installed in popular trains and later on depending upon the success of the facility it would be extended to other trains. Beside ATMs in trains and platforms, railways are planning to install about 6,000 automatic ticket vending machines across the country, beginning with Mumbai and Bangalore.
Harried Yes Bank depositors rushed to ATMs to withdraw cash but faced multitude of problems including closed down machines and long queues, after the RBI placed the bank under a moratorium, capping maximum withdrawals at Rs 50,000 per account for a month. Aggravating the problems of depositors were difficulties accessing the internet banking channel, which ensured that they can't transfer the funds online as well.
It's always been a struggle for economists and statisticians to forecast India's gross domestic product (GDP) correctly, and say where the economy is headed before the official numbers come out. If estimating the GDP is tough, forecasting it in real time is complicated. It involves looking at tens of indicators, such as industrial production, electricity consumption and exports, to arrive at a number.
The facility has been branded 'Indicash'. Last month, TCPS secured a licence from the Reserve Bank of India to launch white-label ATM operations, under the central bank's scheme 'B'.
About 70 per cent of ATMs in India are running on outdated operating systems, which makes it easier for fraudsters to crack them
'The absence of cyber security framework for ATMs is like a dream come true for hackers.'
The Central Bureau of Investigation (CBI) conducted searches at seven locations across India in connection with a Rs 350 crore crypto ponzi scam. The accused, operating seven modules in different cities, allegedly lured investors with promises of high returns on cryptocurrency investments. The CBI seized digital virtual assets totaling USD 38,414 in cryptocurrency wallets, cash amounting to Rs 34.2 lakh, and digital evidence, including mobile phones, laptops, tablets, hard disks, and memory cards. The agency registered the case under the Indian Penal Code and the Information Technology Act.
Around 2,500 engineers and 45,000 cash management employees step up efforts to complete the target of recalibrating 12,500 ATMs every day.
Kamal Sajwan from New Delhi tells us how an debited amount from his account got credited back.
