A 40-year-old freelance journalist has claimed a person 'hypnotised' him over the phone and duped him of Rs 40,000, but police and experts said this is one of the 'most normal kinds of cyber fraud' and not a case of hypnosis.
Payments banks will mainly deal in remittance services and accept deposits of up to Rs 1 lakh.
Eco affairs secretary says double counting possible; cash availability to improve in three weeks.
'Overall, compared to the previous episode, we are in a better shape because the vaccine is already out there and vaccination drives are proceeding'
These include all kinds of ATM transactions. In short, you will be allowed eight free transactions, after which there would be a levy, which should suffice for most people.
The RBI fell short of pumping Rs 150 billion into the economy at the beginning of 2018-2019.
'What the RBI is doing is trying to catch the mouse when they have to catch the tiger.'
Banks are in a tight spot as ministry wants them to open ATMs at all rural branches
Adequate currency in circulation, temporary shortage to be tackled quickly, says FM
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.
While some are relatively new in this business, Vodafone, which has 1.8 million touch points in the country, has been offering basic banking and payment services through its pre-paid mobile digital semi-closed wallet called M-Pesa since 2012.
In the excitement over the allocation of bank licences for the private sector, a new category of licence offered by the Reserve Bank of India (RBI) last year went almost unnoticed. That was when the RBI consolidated the rules for prepaid payment instruments (PPI), popularly understood as e-wallets or gift cards. In the process, the regulator has fast-forwarded a bottom-up card usage industry in India that is completely different from the world of bank-linked credit and debit cards.
Currently, the bank charges Rs 50 as cash processing fee.
Union Finance Minister Pranab Mukherjee while presenting the Budget 2009-10 in Lok Sabha on Monday announced that a sub-committee of State level Bankers Committee (SLBC) would identify and formulate an action plan for providing banking facilities in under-banked/unbanked areas in the next three years.
DBS Bank India on Monday said customers of Lakshmi Vilas Bank, which has now been merged with it, can continue to access all banking services, and interest rates on savings and fixed deposits are unchanged as of now. Lakshmi Vilas Bank (LVB) has now been amalgamated with DBS Bank India Ltd (DBIL), the wholly-owned subsidiary of DBS Group Holdings Ltd, DBS Bank India said in a statement.
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.
The government on Tuesday night announced that Rs 500 and Rs 1,000 will be no longer legal tender after November 8, midnight. Here are the details you need know
At ATMs, as a step to avoid getting Rs 2,000 notes, people are withdrawing Rs 1,900 in Rs 100 notes and then putting another request for the balance Rs 600, so that they remain within the limit of Rs 2,500 per day of withdrawal.
Microsoft will stop technical support for its most popular operating system (OS) Windows XP globally from Tuesday, bringing down curtains on the software giant's longest running OS.
The decision, the Reserve Bank of India said, "is expected to revolutionise the retail payments system of the country".
The RuPay card is accepted at all ATMs (1.6 lakh plus), 95 per cent of PoS terminals (9.45 lakh plus) and most of the eCom merchants (about 10,000) in the country.
A task force will speed up the recalibration of 200,000 ATMs so these can dispense the new Rs 2,000 notes.
With the arrival of new players such as Amazon Pay, Google Tez and Flipkart's PhonePe, digital money companies are now changing their business pitch.
Reports suggest this lot could fetch the cybercriminal as much as $130 million upon sale.
Prime Minister Narendra Modi on Thursday launched his government's mega scheme ' Pradhan Mantri Jan Dhan Yojana', declaring that it was aimed at eradicating financial untouchability by providing bank accounts to the poor.
Their reopening followed Prime Minister Alexis Tsipras' reluctant acceptance of a tough package of bailout demands from European partners
The value of transactions through debit and credit cards used at the PoS fell to Rs 64,200 cr in February
In the era of e-filing, small mistakes lead either to delayed or complete denial of income tax refunds. So, avoid these 5 common mistakes that could lead to delay in refunds.
He termed the Centre's decision to demonetise Rs 500 and Rs 1,000 notes as "surgical strike" on common man's "small savings" and not on "black marketeers".
Protect yourself and minimise such frauds by following these simple rules
The currency ban has changed the lives of the people facilitating this move across India.
The Assam government has taken the initiative to pay workers their wages electronically and has asked banks to open branches adjacent to tea gardens and install ATMs in estates.
The two entities' combined distribution network would comprise 4,182 banking outlets and 476 ATMs across 34 states and Union territories of India, with more than 31,000 employees serving about 15 million customers across the country.
'Sometimes we succeed, sometimes we don't.' 'But you can use the RTI to improve the future.'
This will allow the bank's customers to access funds from virtually any city or town in the country. The NFS is India's largest domestic network with over 30,000 ATMs across the country and Standard Chartered's customers will now have wider coverage of ATMs available to them.
Use of the incorrect form will result in your return being treated as defective, points out Suresh Surana, founder, RSM India.
The government has also announced a slew of measures to ease cash flow for the rural sector.
Sandeep was nabbed from the same house where LeT commander Bashir Lashkari was killed on July 1. His arrest led to Shah being caught.
