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.
SC asked AG to file an affidavit about the measures undertaken by the govt and RBI to minimise public inconvenience.
Maharashtra recorded the highest number of cases in the country under the Indian Penal Code (IPC) in 2021 at 3,67,218, while Mumbai was placed second among major metropolitan cities in registration of criminal offences, according to a National Crime Records Bureau (NCRB) report.
He said it may take up to 3 weeks for all the 2 lakh cash vending ATMs to operate normally as each one has to be calibrated individually to dispense new sized notes of Rs 2000 and Rs 500 besides lower denomination currency of Rs 100.
Amid increasing popularity of virtual currencies in various parts of the world, the Reserve Bank of India (RBI) on Monday said it is open to exploring the possibility of a digital version of fiat currency. Host of private digital currencies, virtual currencies and cryptocurrencies have gained popularity in recent years, though Indian authorities continue to remain sceptical about them. "In India, the regulators and governments have been sceptical about these currencies and are apprehensive about the associated risks. "Nevertheless, the RBI is exploring the possibility as to whether there is a need for a digital version of fiat currency and in case there is, then how to operationalise it," the RBI said in its booklet on 'Payment Systems in India -- Journey in the Second Decade of the Millennium'.
A Reserve Bank panel has decided against the inclusion of any other national leader's image on banknotes saying that no other personality could better represent the ethos of India than Mahatma Gandhi.
'RuPay' is developed by National Payments Corporation of India.
Bihar Chief Minister Nitish Kumar's JD-U launched a frontal attack on ally BJP, asking it to rein in 'loudmouth leaders' whose 'arrogance' had cost it an old partner like the Shiv Sena.
Open loop pre-paid cards come with a two-factor authentication. One for ATMs and PoS transactions, and the other for online transactions
The economic affairs secretary said that the focus is on production and supply of Rs 500 and lower denomination notes.
KV Kamath has had a tough journey so far.
BoB now has over 9,500 branches, 13,400 ATMs, 85,000 employees to serve 12 crore customers.
The RBI has set up a panel to review ATM charges, and fees levied by banks.
Calling for public cooperation to the government's efforts to stem the spread of the virus, Stalin urged people to follow due protocol like social distancing and wearing of masks.
Another 8 pm prime ministerial speech. Will this one too lead to a scramble and chaos like his previous 8 pm telecasts?
Now that you have already downloaded mobile wallets and all set to go cashless/digital with your payments to the local grocer, cabbie, maid, etc, here's what you must watch out for, says Tripti Rai.
Did your employer credit your salary this month? Are you still struggling with cash? Tell us.
'We are not getting any clear guidance on what to do. Initially, we were asked to move to the bunker...when we packed our bags and reached there, our university head asked to go back to our hostel room. So we came back. Movement is very risky these time'
For the urban population, recalibration of ATMs has already started and they will start dispensing the new Rs 2,000 currency notes from Monday or Tuesday.
Processing fees, pre-payment charges add to expenses; also low rates not for all
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
In a set of FAQs on applicability of Goods and Services Tax on banking, insurance and stock brokers sectors, the revenue department has clarified that transactions relating to securitisation, derivatives, future and forward contracts are exempt.
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.
'It will cause problems for people who deal in small amounts of cash.' 'I hope it does not cause law and order problems.'
The current limit of Rs 24,000 per week has been raised to Rs 50,000 for savings accounts.
In a business friendly move, the Reserve Bank of India on Friday said that Real Time Gross Settlement System (RTGS), used for large value transactions, will be made available round-the-clock from December. In December 2019, the National Electronic Funds Transfer (NEFT) system was made available on a 24x7x365 basis. Currently, RTGS is available for customers from 7.00 am to 6.00 pm on all working days of a week, except second and fourth Saturdays of every month.
A state probe agency has been constituted within the Jammu and Kashmir police for speedy investigation and prosecution in terror-related cases as well as coordinating with central agencies, officials said on Tuesday.
Do you often travel abroad on business or leisure? Here's a simple guide to help you keep a track of how much you spend, swipe and withdraw from international ATMs.
The country's largest bank, which has about 25 per cent market share, has also decided to do away with the charges on fund transfer through mobile phones using the IMPS from August 1.
Total payments in the economy grew 24.08 per cent to Rs117.43 trillion in value terms in June, compared to Rs94.64 trillion in May.
Cheque payments will be safer; the limit for contactless card transactions hiked.
Demonitisation will facilitate transparency in the real estate industry, which has had a notorious reputation as a safe locker for black money, says Saket Mohta.
As many as 641 customers across 19 banks have been duped of Rs 1.3 crore using stolen debit card data
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.
The facility can be accessed using internet banking, Aadhaar number, ATM and email.
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 WB CM visited three banks and several ATMs at Sarat Bose Road, Bhawanipore and Chowringhee and spoke to the people there. "These are all common people. Let the government nab the real culprits," Banerjee said.
