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.
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.
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.
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.
'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 triple lockdown in force from Monday would last for a week.
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.
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.
KV Kamath has had a tough journey so far.
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.
They will also have access to banking channels such as ATM, mobile and Internet 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
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.
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.
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.
The cash transactions have been stopped at the branches belonging to the Jammu and Kashmir Bank and Ellaquai Dehati Bank.
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 veteran banker has been instrumental in building the bank from scratch and turning it into the largest private sector lender of 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
Secretary of the All India Progressive Women's Association Kavita Krishnan tweeted about the incident, allegedly involving poet Bappadittya Sarkar on Thursday.
'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.
Geeta Kapoor worked in over a hundred films, including Pakeezah and Razia Sultan.
'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.
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.
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.
The facility can be accessed using internet banking, Aadhaar number, ATM and email.
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).
The current limit of Rs 24,000 per week has been raised to Rs 50,000 for savings accounts.
Tightening restrictions further in select urban areas to help prevent the spread of Covid-19, Tamil Nadu Chief Minister K Palaniswami on Friday announced a complete shutdown beginning Sunday in Chennai, Coimbatore and Madurai for four days, disallowing grocery shops as well and fully curtailing the movement of public. Also, Salem and Tirupur in western Tamil Nadu will be shut similarly, albeit for three days from April 26, and Palaniswami assured people that vegetables and fruits shall reach their doorsteps via mobile outlets.
It's never too late to teach your child financial matters. Start now.
