Muthoot Finance Recently received in-principle approval from RBI to set up White Label ATMs. The company has already chalked out setting up 1,000 such ATMs in the first year and another 8,000 in the next two years.
Videsh Sanchar Nigam Ltd has inked a pact with ICICI Bank Ltd, whereby the private sector bank will distribute the former's Tata Indicom dial-up Internet services through its ATMs in the country.
A senior finance ministry source said making the use of debit cards and e-wallets compulsory across the board is legally untenable, but banks have been asked to insist their account holders use these instruments
'People are willing to face temporary inconvenience as they are determined to support PM Modi's crackdown on black money,' Commerce Minister Nirmala Sitharaman tells Archis Mohan.
'The experience so far is a shocking example of how critical scheme of national importance can be brought into disrepute by inefficient and badly designed implementation,' says Dr Madhav Godbole, the former Union home secretary.
The current limit of Rs 24,000 per week has been raised to Rs 50,000 for savings accounts.
An analysis for the first eight months of CY18 shows that the value of RuPay and UPI transactions constitute 65.2 per cent of all transactions done through debit and credit cards, in value terms, across retail outlets by the end of August.
The Monopolies and Restrictive Trade Practices Commission passed the direction on a complaint from a credit card customer of the bank that he was wrongfully billed for a cash withdrawal of Rs 16,000, although he had never used the card in an ATM.
The facility can be accessed using internet banking, Aadhaar number, ATM and email.
Further, 110 people have been arrested in connection with the incident at Pulakeshi Nagar in Bengaluru. Scores of persons, including around 50 policemen, were injured in the violence that erupted on Tuesday night and continued till the wee hours of Wednesday, apparently prompted by the 'communally sensitive' online post.
The GSAT-31 is a 'high power' communication satellite going to serve and replace some of the satellites that are going to expire soon.
The official twists and turns have raised questions on the government's credibility and its ability to pull the nation out of the demonetisation quagmire. To keep up with the new rules, the government has issued an updated FAQ on demonetisation.
Dhanteras is considered auspicious for investment and buying gold.
As the government attempts to find a truce with a united opposition, which has disrupted both the Houses of Parliament since the beginning of the Winter Session, Prime Minister Narendra Modi is likely to participate in the discussion on demonetisation in Rajya Sabha.
MGNREGA scheme: A significant Rs 17,370.58 crore has been carried forward over to the next financial year as unpaid dues as demand for work continued unabated for the scheme in rural areas.
A gunman working with HDFC bank fled with Rs 19,50,300 cash at Kamlacity Complex N M Joshi Marg in south-central Mumbai. The gunman Shafik Ahmed, 25, and the bank's cashier withdrew cash from the bank in order to deposit it in various ATM centres.
BoB now has over 9,500 branches, 13,400 ATMs, 85,000 employees to serve 12 crore customers.
Withdrawals from basic savings bank deposit accounts are capped at four a month, including withdrawals via ATMs.
"Your money will be given to those select 15-20 industrialists," Rahul alleged.
It's never too late to teach your child financial matters. Start now.
RBI had earlier permitted minors to open fixed and savings deposit bank account with mothers as guardian.
In the new decade, the scene will change because the banks till recently had been challenged by the fintechs, but the techfins have now entered the arena, observes Tamal Bandyopadhyay.
Gautam Adani, head of the Rs 45,000-crore Adani group that is in the midst of a controversy, with the Congress party charging the BJP's prime ministerial candidate Narendra Modi with showing special favours to them speaks to CNN-IBN.
Curfew-like restrictions have been imposed in the area, which is the headquarters of the Dera Sacha Sauda sect.
As many as 641 customers across 19 banks have been duped of Rs 1.3 crore using stolen debit card data
As hundreds of world's rich congregate for the World Economic Forum Annual Meeting in Davos, many of them have also scheduled meetings with Swiss bankers to devise new strategy for their hidden wealth.
High interest rate, policy uncertainty in the year of elections, along with risk aversion led to slow takeoff in credit demand on the corporate front.
'This way, you'll maintain our glorious traditional values and get more efficient governance as well.'
A Europe-like cyber security defence alliance is the need of the hour, say banking technology experts.
After days of incessant rains, the situation improved in many parts of Kerala, Karnataka and Maharashtra on Tuesday with water receding in affected areas.
As the 50-day deadline for completion of demonetisation process draws near, there is a growing consensus among bankers that the restrictions on withdrawal would have to continue even in the New Year so as to maintain orderly working at the banks.
A large number of people using cards at PoS Cards being used more frequently Small-ticket transactions Mastercard South Asia head Porush Singh calls these the three key trends for a cashless future. And post-demonetization India, he believes, is steadily moving towards it.
NPCI calls bids to cover all e-payment transactions where consumer followed procedure; both state and private insurers show interest.
Changes in regulations and the imminent enforcement of some long-standing regulations are pushing up the cost for banks apart from the general cost inflation.
Credit card thieves are getting smarter with the help of sophisticated machines and cameras. But have you become smarter and more cautious?
Readers tell us how they are managing without cash since November 8.
The bank's response came to a clarification sought by stock exchange on recent reports on debit cards blocking in the wake of suspected data breach
Processing fees, pre-payment charges add to expenses; also low rates not for all
As India reels from a severe water shortage, startups have begun offering innovative ways to help people access safe drinking water.
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