P N Pillay, 49, shares his experience at an ATM. You can share yours too!
But what do banks gain by opening their apps for all? The answer -- rival bank's customers under their fold.
A reader shares his shocking experience at the ATM.
Banks that own ATMs charge an inter-change fee for providing the facility to the customers of other banks. For larger players such as SBI, ICICI, HDFC and Axis Bank, the shift would mean higher revenues as customers would tend to use the nearest ATM. Smaller banks, which already allow their account holders to access any ATM without having to pay a transaction charge, fear the bigger players, sensing an opportunity, may increase the inter-change fee over the next 6 months.
We had asked you, dear readers to share your good and bad ATM experiences.
With debit cards of 5 banks compromised, time to be very cautious while transacting. If possible, avoid non-bank ATMs.
Tamal Bandyopadhyay details HDFC Bank's digital journey.
Customers will be offered five free third-party withdrawals per month.
The veteran banker has been instrumental in building the bank from scratch and turning it into the largest private sector lender of the country.
As part of its 'go-green' initiative, HDFC Bank has started sending PIN, unique code number, for debit card holders through SMS instead of the practice of sending it by post.
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.
Private banks and start-ups offer instant loans on apps as well as through ATMs.
The bank lost out on fairly meaningful quantum of fees from point of sale terminals and ATM usage during the demonetisation exercise.
'No cash,no problem,' says Aparna Verma who has survived without cash from the time PM Modi announced the 'note ban'.
The charges would apply to savings as well as salary accounts
HDFC Bank on Tuesday reported a 31.28 per cent increase in net profit at Rs 224.40 crore (Rs 2.24 billion) for the third quarter ended December 31, 2005 as against Rs 170.93 crore (Rs 1.70 billion) in Q3 FY05.
The banks total income for the September quarter this fiscal was Rs 17,324.3 crore.
Billionaire Mukesh Ambani's Reliance Industries Ltd climbed two spots to No. 53 on Forbes' latest Global 2000 list of public companies worldwide. Forbes Global 2000 ranks the largest companies in the world using four metrics: sales, profits, assets and market value, Forbes said releasing the 2022 ranking of the world's top 2,000 companies. Reliance is the top-ranked Indian firm on the list, followed by State Bank of India at No. 105, HDFC Bank at No. 153 and ICICI Bank at No. 204.
To educate customers on the modus operandi of financial fraudsters and share inputs on safe banking habits, banks are now coming up with awareness campaigns aimed at preventing customers from falling into the trap of fraudsters.
'Fear is also a great impetus to push people in the right direction.' 'So, everyone who has touched black money is scared and I'm very happy about it.'
Currently, the bank charges Rs 50 as cash processing fee.
In March this year, Worldline India launched Vabox (Voice Alert Box): merchants will now get instant audio alerts on the settlement of UPI (Unified Payments Interface) payments via QR codes in languages of their choice when customers check out. "They needn't worry whether the amount has been credited to their account," says Gulshan Pruthi, the firm's executive vice-president. The French payments giant will roll out 500,000 Vaboxes in the initial phase.
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.
Employees of public sector banks (PSBs) on Thursday went on two-day strike against the move to privatise public sector banks impacting normal banking operation across the country. Many branches across different parts of the country were shut as the United Forum of Bank Union (UFBU), an umbrella body of nine bank unions including All India Bank Officers' Confederation (AIBOC), All India Bank Employees Association (AIBEA) and National Organisation of Bank Workers (NOBW) had given two day strike call. As a result, services such as deposits and withdrawal at branches, cheque clearance and loan approvals might be affected due to the strike. But ATMs are expected to function as usual.
The suspected security breach happened through a malware in the systems of Hitachi Payments Services, which serves ATM network of Yes Bank
Promising swift action on the debit card data compromise issue, Economic Affairs Secretary Shaktikanta Das on Friday said there was no need to panic over the feared security breach that affected over 32 lakh cards.
Report holds Hitachi responsible for debit card data theft. When the data theft came to light, Hitachi had denied that its systems were compromised.
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.
RuPay is working on how to increase offers to customers. It is also focused on technology innovation in the card payment system.
'The reason is that you may not enter the branch but you want to see it near you as it establishes trust.'
A recent KPMG survey highlights the huge potential for banks to grow their market with the rise in mobile phone subscribers in India. The most profound impact of mobile banking and payment services is that they provide the non-banking population with access to modern financial services, giving them tools to improve their living standards. Innovative m-banking services are fast arriving in the market.
The sub-prime loss-hit Citigroup is on a cost-cutting exercise in its Indian operations. CitiFinancial, its consumer finance unit, which is also reeling under the burden of rising bad loans, is considering closing about 100 of its 450 branches in India.
Reports from Ludhiana, Coimbatore, Moradabad, Tirupur, Indore, Surat, Delhi, Mumbai, Kolkata, Chennai and Hyderabad, suggest the impact of demonetisation is worsening.
Banking operations including cheque clearance across the country got affected on Monday as bankers under the aegis of the United Forum of Bank Unions have gone on a nationwide strike to protest against the proposed privatisation of two state-owned lenders.
In an online chat with readers on April 27, Sameer Ratolikar, Chief Information Security Officer, HDFC Bank, answered readers' queries on how to secure their online banking transaction.
Other private banks also planning to employ bots soon
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.
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