The correlation between withdrawal of deposits and the Covid death rate is stark, reveals Tamal Bandyopadhyay.
He claimed that Bharatiya Janata Party people were alerted beforehand about the demonetisation. "How can one explain the BJP people in West Bengal depositing crores in high-denomination notes just before PM's announcement on November 8?" Rahul asked. "BJP workers were seen holding up bundles of the new Rs 2000 notes, as seen from images on the Internet, before Modi announced this decision," he told reporters in suburban Bandra.
Euronet Worldwide, a leading electronic payments provider, has signed a multiyear ATM outsourcing agreement with a large multi-national bank in Mumbai, for its existing nationwide network of 245 ATMs.
Axis Bank recently informed the Reserve Bank of India that it had experienced a cyber attack, while the State Bank of India said it was re-issuing over 600,000 debit cards because of a potential security breach.
In an interview with K Rajani Kanth, NCR Corporation's managing director (India, Nepal and Sri Lanka) Pradeep Sen outlines the company's road map for India, including its plans to scale up its research and development efforts, manufacturing capacity expansion and taking the partner-ecosystem route to penetrate the petroleum and general retail segment.
The Karnataka government on Wednesday decided to conduct an inquiry into the violence in parts of the city on Tuesday night, in which at least three people were killed and scores of others were injured, through a district magistrate.
In the fifth of a six-part series on the impact of demonetisation, Avishek Rakshit senses a storm brewing over the 850-odd tea gardens in the north eastern state, which have a weekly and fortnightly payment cycle.
Taking a dig at Narendra Modi's demonetisation move, Uttar Pradesh Chief Minister Akhilesh Yadav termed cashless economy as a "bigger dream" than 'achche din' and said the note ban will be an issue in the upcoming assembly elections in the state.
This is the fifth increase in withdrawal limit since the bank was placed under its direct control with an administrator on September 23. Since then as many as nine depositors have lost their lives including a 74-year-old man from Thane on Monday.
'RuPay' is developed by National Payments Corporation of India.
Love it or hate it, you simply cannot ignore apna #Indianisms, can you?
The re-invention that PSU banks have undergone recently is a great story.
'Overall, compared to the previous episode, we are in a better shape because the vaccine is already out there and vaccination drives are proceeding'
The hoarding of cash accentuated from the very start of 2020, when the coronavirus pandemic started taking hold the world over, and fear of the pandemic prodded people to remain liquid for emergency use.
When Hitesh Harisinghani and Jahnavi Patel hit the streets of Mumbai after Modi's demonitisation announcement, here's what they found.
The earliest ones included whistles shaped like birds, toy monkeys that could slide down a string and small carts made from materials found in nature such as sticks, clay and rocks. While there might be no disputing India's rich toy-making tradition, the industry is languishing for lack of investment and technology, and also owing to competition from cheap imports. And though it has been listed among 24 key sectors under the government's Atmanirbhar Bharat Abhiyaan, the question remains: will this push help place it in the global game? Currently, 80-odd per cent of the toys sold in India are imported - nearly 60 per cent of them from China.
The triple lockdown in force from Monday would last for a week.
In all the time he has spent in bank and ATM queues, these are the 10 arguments that were being thrown at him constantly by those supporting the demonetisation, says Syed Firdaus Ashraf.
Anticipating panic and rush at bank counters, the Reserve Bank of India as well as the government has set up control rooms in Mumbai and the national capital to avoid any crisis, Department of Economic Affairs Secretary Shaktikanta Das said.
The guidelines listed several services including government and private offices that will be out of bounds during the period, while exempting establishments such as hospitals, ration shops, dairies, banks, insurance offices, and print and electronic media. Delivery of all essential goods including food, pharmaceuticals, medical equipment through e-commerce has also been exempted from the purview of the lockdown.
It will carry out most banking operations like accepting deposits but can't advance loans or issue credit cards.
Each postman has undergone a three-tier training process, after which they were evaluated by the National Institute of Banking and Finance and given certificates.
According to A Krishna Kumar, Managing Director, the bank will try to maintain the employee strength at current levels even as it keeps expansion programmes in mind.
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.
Soon after the lifting of the 13-day moratorium at 6 pm, some customers took to social media complaining that they were not able to access certain services, including internet and mobile banking.
The unidentified hackers had executed money transfers on two separate occasions - August 11 and August 13 - which raises the question of why pro-active measures were not taken on the first night itself
KV Kamath has had a tough journey so far.
They will also have access to banking channels such as ATM, mobile and Internet banking.
For people who have had their personal identification stolen, it could also help prevent cyber criminals from using that information to make purchases in their name.
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.
The cash transactions have been stopped at the branches belonging to the Jammu and Kashmir Bank and Ellaquai Dehati Bank.
The veteran banker has been instrumental in building the bank from scratch and turning it into the largest private sector lender of the country.
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.
Secretary of the All India Progressive Women's Association Kavita Krishnan tweeted about the incident, allegedly involving poet Bappadittya Sarkar on Thursday.
Defence PRO said that the forces have managed to restore normalcy in the areas they were deployed and have been continuously working to aid the civil administration.
The Reserve Bank on Wednesday said the amalgamation of Lakshmi Vilas Bank with DBS Bank India will come into force from November 27 and the moratorium imposed on the crisis-ridden lender will be removed on that day. The RBI issued the statement within hours of the Cabinet clearing the Scheme of Amalgamation of Lakshmi Vilas Bank Limited (LVB) with DBS Bank India Limited (DBIL).
Geeta Kapoor worked in over a hundred films, including Pakeezah and Razia Sultan.
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
