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.
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.
SBI to introduce OTP-based ATM transactions and the new feature will not require any major change in the present process to withdraw cash.
The number of cyber crimes in India could touch 3,00,000 in 2015
Sanjiv Kulkarni's invention blends tradition with technology.
'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.'
179 million debit cards were issued during December 2016 to June 2018. A mere 2,000 ATMs were opened in the same period.
Refusal to share his mPIN cost the businessman his life.
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.
A reader shares a bad experience he had at an ATM. You can share yours too!
Using credit or debit cards abroad can prove costly.
'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 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'.
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.
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.'
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.
Mumbai resident Sumesh Pillai tells us how he panicked when the ATM didn't dispense cash and what happened later.
The cash crunch following demonetisation and transaction fees that do not cover costs are among the reasons why the sector is struggling.
Akhil Goel tells us how he lost a huge sum of money without even initiating any withdrawal transaction.
With about 2,000 qualified engineers to service ATMs across the country, it is an uphill task to modify 220,000 machines.
Bankers and executives involved in ATM operations said challenges abounded in this segment.
Annoyed people in queues in front of ATMs and banks said chasing their own money has now become a new way of life
The bank can declare a withdrawal by you as illegal and deny any remedy in case a problem arises.
Bengaluru resident Krishnan H tells us about a State Bank of India ATM counter where most of the machines are dysfunctional.
Take the Rediff Business Quiz and find out how much you know about the world of Automated Teller Machines.
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.
ATM deployment is set to gain scale with the Anil Ambani group's Reliance Capital and a few technology firms joining hands with partner banks to launch co-branded (known as partial white-label) ATMs.
But what do banks gain by opening their apps for all? The answer -- rival bank's customers under their fold.
For withdrawals through cheque, the weekly cap has been hiked to Rs 24,000 from Rs 20,000
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.
The Budget for 2016-17 has announced a massive rollout of ATMs and micro-ATMs.
A reader shares his unfortunate experience at an ATM.
