This is the time of year to be most on guard against a host of scams, new and old.
The rate of cash withdrawals over deposits was almost double in Uttar Pradesh, Andhra Pradesh and Telangana, according to the latest analysis submitted by the RBI to the finance ministry.
These directions on enhancing security of card transactions will come into effect from March 16, 2020, as per the RBI notification.
Five years after demonetisation, which sought to curb black money and reduce cash circulation in the economy, 70 per cent of respondents said they paid a large component of the total payment towards a real estate transaction in cash. About 16 per cent said they paid over half the amount in cash, observes Shyamal Majumdar.
'They are not tom-tomming what a great thing the Supreme Court decision is.' 'If they say it was a great thing, the public will react because people suffered and are still suffering.'
The Reserve Bank of India (RBI) on Wednesday proposed to make interoperability mandatory for digital payments firms. It also allowed users to withdraw cash from e-wallets and fintech companies to process RTGS and NEFT transactions. The RBI expressed dissatisfaction over prepaid payment instruments' (PPIs') failure to migrate towards full-KYC (know your customer) PPIs, and therefore interoperability, even two years after guidelines were issued.
There is no power, no water supply and shops are refusing to accept cards, even though ATMs have run out of cash, said the Sumy State University student.
Videos of the alleged heated argument between Gaikwad, his supporters and police personnel at Latur in Marathwada region, have gone viral on social media.
Bihar Chief Minister Nitish Kumar's JD-U launched a frontal attack on ally BJP, asking it to rein in 'loudmouth leaders' whose 'arrogance' had cost it an old partner like the Shiv Sena.
Employees of public sector banks (PSBs) on Thursday went on two-day strike against the move to privatise public sector banks impacting normal banking operation across the country. Many branches across different parts of the country were shut as the United Forum of Bank Union (UFBU), an umbrella body of nine bank unions including All India Bank Officers' Confederation (AIBOC), All India Bank Employees Association (AIBEA) and National Organisation of Bank Workers (NOBW) had given two day strike call. As a result, services such as deposits and withdrawal at branches, cheque clearance and loan approvals might be affected due to the strike. But ATMs are expected to function as usual.
Banks were given 15 days to increase dispensation of Rs 100 banknotes through ATMs which are "widely used"
'We are not getting any clear guidance on what to do. Initially, we were asked to move to the bunker...when we packed our bags and reached there, our university head asked to go back to our hostel room. So we came back. Movement is very risky these time'
Income velocity based on currency with the public went down from 0.93 in October to 0.84 in March says a report from SBI's economic research department
In order to provide an impetus to digital funds movement, it has been decided to do away with the charges levied by the RBI for transactions processed in the RTGS and NEFT systems, RBI said.
On a daily basis, an average cash logistics company transports Rs 5,000-8,000 crore worth of cash nationwide.
I kept insisting that Rs 100 notes were in short supply and there was an urgent need to augment the supply of 100 rupee notes while also rapidly bringing into circulation the proposed new Rs 500 notes. But this was easier said than done because all the note printing machines of the RBI were programmed for printing Rs 2,000 notes and required at least three weeks before the machines could print the new Rs 500 currency notes. The availability of currency paper posed another major bottleneck, and it had to be imported. It was decided to immediately start printing the Rs 500 notes. It was only when the supply of the new Rs 500 notes started improving and the process of change of cassettes at the ATMs gathered momentum that the situation began limping back to normal. A fascinating excerpt from former SBI chairman Rajnish Kumar's The Custodian of Trust: A Banker's Memoir, five years after demonetisation, November 8.
Banks, ATMs and quite a few markets were kept open on Sunday while 2.5 lakh sacrificial goats have been made available in the Kashmir valley to help citizens celebrate Eid-ul-Azha with traditional fervour.
"We realised no one is going to come to help us and it is up to us now," 20-year-old Ashna Pandita told PTI over the phone as the train took them to the western city of Ukraine, about 80 km from the Poland border, where the fighting has been relatively less.
Bharti Airtel aims to leverage its 180 million plus digital service customers and its wide presence in rural areas to grow its payment bank business. "We are well placed as we can leverage the 180 million plus customers we have across our digital assets. "We offer a plethora of services such as lucrative interest rates, gift cards, FASTag, telecom recharges, payments and debit cards. "Our large merchant base of more than eight million allows us to drive both engagement and monetisation.
Sleep has been a casualty for Vijay Shekhar Sharma, whose wallet company Paytm has a user base of close to 150 million and is working 20 hours a day.
Director Rahul Nair's gabby comedy looks at the difficulty of dating in the digital age in a manner that's equal parts shallow and silly, notes Sukanya Verma.
The machine, installed on the premises of National Institute for the Orthopedically Handicapped, works on the basis of fingerprint identification system and has customised keypads to make money transactions easier.
Scores of people in violence-hit areas of northeast Delhi have been spending their nights in the dark as power lines damaged during the riots remain unrepaired and dangle precariously outside their houses.
With the war in Ukraine entering its 12th day on Monday and tensions between Kyiv and Moscow showing no signs of easing, the students said there is panic in Belarus and their families in India too are concerned about their wellbeing.
While several banks and ATMs are providing cash far below the allowed limit every now and then due to cash shortage, the damage caused by the cyclone has dealt a further blow with movement of cash vehicles coming to a grinding halt, resulting in empty ATMs.
Be careful if you find your postal mails/ bank and financial statements intercepted, pilfered or tampered with.
A state probe agency has been constituted within the Jammu and Kashmir police for speedy investigation and prosecution in terror-related cases as well as coordinating with central agencies, officials said on Tuesday.
Operation Romeo is disappointing not because it is a bad or boring film, but because it did have something significant to say and chickened out, observes Deepa Gahlot.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Constable Vijender Kumar was on duty as protests unfolded in Firozabad. He was in his riot gear when a bullet fired by rioters tore his jacket but stuck in the wallet that contained a few coins, four ATM cards and a picture of Lord Shiva.
'Our positivity rate is in single digit now with nearly 44,000 tests. Perhaps, Mumbai is the only city in India with a single digit positivity rate with high testing,' Mumbai municipal commissioner Iqbal Chahal claimed
The sale will be quicker if an Indian private bank buys it; it will take longer for regulatory clearances if a foreign bank or an NBFC buys it, points out Tamal Bandyopadhyay.
For the first time, the value of card and mobile payments of Rs 10.57 trillion was more than ATM withdrawals of Rs 9.12 trillion in Q4 of fiscal 2019-20. In the months of lockdown, the gap may have widened further, but cash could be back in vogue when the situation normalises.
Scheduled international passenger flights have remained suspended since March 23, 2020 in the wake of the pandemic and they will now restart from Sunday.
Calling for public cooperation to the government's efforts to stem the spread of the virus, Stalin urged people to follow due protocol like social distancing and wearing of masks.
'The RBI is not releasing Rs 2,000 notes for the last 10 days; probably they have stopped printing it.'
'Sometimes we succeed, sometimes we don't.' 'But you can use the RTI to improve the future.'
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