Unidentified men posing as central government officials intercepted a cash van in Bengaluru and allegedly fled with about Rs 7 crore. Police are investigating the incident and have formed teams to hunt for the suspects.
In 2023-2024, 95 scheduled commercial banks received over 10 million complaints from their customers. The process of KYC at many banks has become 'HYC' -- harass your customer, points out Tamal Bandyopadhyay.
Readers share their good and bad ATM experiences.
A man was in for a pleasant surprise when he tried to withdraw Rs 500 from an ATM, but got five currency notes of Rs 500 denomination from the cash dispenser in Maharashtra's Nagpur district.
But what do banks gain by opening their apps for all? The answer -- rival bank's customers under their fold.
With 18,000 employees already, NatWest eyes 3,000 engineers in India by next year to strengthen its AI and data capabilities.
Concerned over the inconvenience caused to the public due to the non-availability of cash in ATMs, the Reserve Bank has decided to penalise banks for failure to timely replenish currency notes in such machines. The RBI will start imposing penalty on banks in case the ATMs remain out-of-cash for a total period of 10 hours in a month from October 1, 2021, onwards. "The Scheme of Penalty for non-replenishment of ATMs has been formulated to ensure that sufficient cash is available to the public through ATMs," the RBI said in a circular.
Bengaluru police have arrested three people, including a police constable, in connection with the Rs 7.11 crore robbery in the city. A significant portion of the stolen money has been recovered, and efforts are underway to apprehend the remaining suspects.
Authorities in Kashmir have initiated a profiling process of mosques, madrassas, and individuals associated with their management following the exposure of a 'white collar' terror module. The enumeration drive focuses on the finances of these institutions and the backgrounds of their personnel.
Stating that its ATM operations are making losses, nation's largest bank SBI has said it is all for charging customers for transactions.
Customers will be offered five free third-party withdrawals per month.
Did the transaction fail? Did you receive your money on time?
Two police officials who were injured when the container driver and his associate attacked them in a bid to flee, have been admitted to a government hospital with injuries, she said.
UPI has catapulted India into the forefront on the global digital payments landscape. Working hand in hand, the AePS payments system is making life easy for rural folks, notes Tamal Bandyopadhyay.
The ATMs are fully up now and customers can withdraw up to Rs 50,000 from Yes Bank as well as from other banks' ATMs.
The average, fixed cost of setting up an ATM is estimated at Rs 600,000-800,000. There are about 30,000 ATMs in India. The RBI norms will enable small banks to benefit from low-cost, switch-enabled ATM services without opting for expensive bilateral tie-ups.
We had asked you, dear readers to share your good and bad ATM experiences.
The Budget for 2016-17 has announced a massive rollout of ATMs and micro-ATMs.
The government informed Lok Sabha that security forces have neutralised 29 top Naxal leaders since 2019, with a significant reduction in affected districts.
At times, banks violate all banking norms, resulting in a customer's accounts wiped clean through illegal ATM withdrawals.
A reader shares his unfortunate experience at an ATM.
UTI Bank and Andhra Bank have entered into an agreement for sharing ATMs in the country.
Experts say RBI's norm on deploying a guard is loosely worded and it is discretionary for banks to have all ATMs manned.
Indian origin Hindus living in Europe and US are mulling opening overseas chapters of Prayagraj-based 'Ram Naam Bank' in their countries. On the occasion of Ram Navami on Sunday, the idea of opening a Ram Naam Bank was discussed among the devotees in Sweden.
ICICI Bank has inked a pact with the Jammu and Kashmir Bank to share ATM network, providing the customers of both the banks access to about 2,000 ATMs in the country.
With debit cards of 5 banks compromised, time to be very cautious while transacting. If possible, avoid non-bank ATMs.
The bank intends to roll out mobile biometric-access ATMs at Kakinada, Visakhapatnam and Tirupati during this financial year, with plans to launch 20 such ATMs across the country by 2010.
Even as RBI allowed banks to charge ATM transactions beyond five in metros, the lenders are yet to restrict the number of free withdrawals for their own customers at home ATMs.
The Reserve Bank will consider reducing the number of free ATM withdrawals, as recommended by Indian Banks' Association, in an effort to cut down on cash transactions in the economy.
Many sections of the society including small traders, restaurant owners, transporters started feeling the heat as the dependence on cash is very high
Bankers and executives involved in ATM operations said challenges abounded in this segment.
A reader shares a bad experience he had at an ATM. You can share yours too!
In what is the largest ATM outsourcing deal in the country, Axis Bank has entered into an agreement with two third-party service providers to increase its ATM count to more than 9,000 within the next 18 months.
HDFC Bank will soon open 300 more ATMs in the country and it has placed an order with leading global technology firm NCR.
Most banks complain that without adequate user fees, ATMs are a loss-making business for them
According to a bank source, a link failure was responsible for all the inconvenience
The ATMs will open on Friday and at many places they will open on Thursday, he said.
