The event reopens questions on the risks of outsourcing sensitive financial services to the country.
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.
In a big win for the Narendra Modi government, the Supreme Court in a 4:1 majority verdict on Monday gave its stamp of approval to the Centre's 2016 decision to demonetise the Rs 1,000 and Rs 500 denomination currency notes, saying the decision-making process was neither flawed nor hasty.
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.
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.
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.
Twenty years after the burning of a train in Godhra killed 59 'karsevaks' and triggered one of India's worst post-Partition riots, the poll-scape reflects the yawning gulf between the two communities.
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.
'The RBI is not releasing Rs 2,000 notes for the last 10 days; probably they have stopped printing it.'
The humble Rs 100 bill had several takers on an otherwise normal weekday evening across the country on Tuesday night, even as police had to be deployed outside ATMs to control the crowd waiting eagerly to get their hands on the banknote.
The world's first gold vending machine unveiled at Abu Dhabi's Emirates Palace hotel, began attracting customers minutes after it was opened.
As part of the modern facilities, new technology LHB design passenger coaches have been proposed in Patna and Sealdah Rajdhanis, besides equipping four popular trains with world class passenger amenities and interiors.
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.
'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'
The suspected security breach happened through a malware in the systems of Hitachi Payments Services, which serves ATM network of Yes Bank
The RBI fell short of pumping Rs 150 billion into the economy at the beginning of 2018-2019.
'We have collected Rs 83,702 crore in deposits in five days.'
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.
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.
Report holds Hitachi responsible for debit card data theft. When the data theft came to light, Hitachi had denied that its systems were compromised.
To manage anxious crowds, as many as 3,400 personnel of paramilitary and Delhi Police along with 200 quick reaction teams have been deployed at ATMs and banks.
'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.
Debit card use at POS terminals increasing at rapid clip, transactions at ATMs declining
"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.
The demonetisation camp remains devided, while some feel the exercise is a total flop, others feel the government should be given some more time
What has your experience been like? Did you have to wait hours trying to get money from an ATM or bank teller? Did the cash run out before your turn arrived? Did you need to wait hours to exchange your Rs 500/Rs 1,000 notes, only to be told you had insufficient documentation?
Investment advisor Anil Rego will answer your queries on the ban on Rs 500 and Rs 1000 notes and what you should be doing.
A map showing availability of new currency notes in banks and ATMs in various parts of India, based on the feedback we received from our readers.
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.
'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.'
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.
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.
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.
"All restrictions have been removed except on savings bank account of Rs 24,000 per week. This (removal of withdrawal limit) is also a matter of time," Economic Affairs Secretary Shaktikanta Das said.
There is enough cash available with banks and all arrangements have been made to reach the currency notes all over the country, RBI said.
Delays in returning money for disputed transactions have also come under RBI's scanner.
