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.
Day Two after the banks reopened following the prime minister's demonitisation announcement, the scenario remained just as chaotic as Day One, reports A Ganesh Nadar/Rediff.com.
The ruling Congress is seeking to retain power in Chhattisgarh by banking on the welfare schemes of the Bhupesh Baghel government, while the Bharatiya Janata Party is hoping to corner it on the issues of alleged corruption, religious conversions and unfulfilled poll promises.
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.
A man who purchased the mobile from the person who attacked a woman at an ATM in Bangalore on Tuesday has been picked up by the police for questioning.
'We have collected Rs 83,702 crore in deposits in five days.'
Employees of PSU and private banks, except State Bank of India, will go on a day-long strike on July 28 to oppose outsourcing of jobs, demand one more pension options and fresh recruitment of staff.
To manage anxious crowds, as many as 3,400 personnel of paramilitary and Delhi Police along with 200 quick reaction teams have been deployed at ATMs and banks.
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.
Banks asked to maintain record of cash being ferried in these vehicles all the time
The police are yet nab the man who brutally attacked a lady 12 hours ago in an unguarded ATM kiosk in Bengaluru. The assault was captured on CCTV camera.
Three weeks after the brutal attack on a woman bank official at an unguarded ATM kiosk in Bangalore, the assailant was still on the run even as police said they were making "all efforts" to nab him.
Rapid strides in digital payments notwithstanding, the Indian economy will likely remain cash-dependent for many years to come, at least that's what the automated teller machine makers and cash logistics companies are betting on. After growing at over 20 per cent for most of 2020, currency in circulation growth fell to 8.5 per cent as of October 29 this year, shows data from the Reserve Bank of India (RBI). The reason for the steep rise in currency last year was the uncertainties related to the Coronavirus (Covid-19) pandemic, where people preferred to hoard cash to meet exigencies.
Banks now ride on what is defined as a "banking outlet". This is a fixed-point service unit, manned by either the bank's staff or its business correspondent (BC), where all kinds of services - acceptance of deposits, encashment of cheques, cash withdrawal or lending of money - are provided for a minimum of four hours per day, for at least five days a week. Banks are now turning to reposition the manner in which they acquire customers, report Abhijit Lele and Raghu Mohan.
ICICI bank waives ATM charges.
'The RBI is not releasing Rs 2,000 notes for the last 10 days; probably they have stopped printing it.'
Bankers need to take a call on whether they will allow technology firms to run banks or banks themselves will turn into tech firms, says Tamal Bandyopadhyay.
Radio Free Europe reported that the Asian Infrastructure Investment Bank, a Chinese-led development bank, suspended all business with Russia and Belarus on March 3.
'It is the duty and responsibility of the public officer to proceed responsibly and ascertain the true and correct facts. Execution of law without appropriate acquaintance with legal provisions and comprehensive sense of their application may result in an innocent being prosecuted,' the apex court said.
Sporadic violence hit Hyderabad and other parts of Telangana region on Sunday, on the first day of the 48-hour bandh called by the Telangana Rashtriya Samiti, with protestors damaging bank ATMs, torching a hotel and indulging in vandalism to press for their demand for a separate state. Normal life came to a grinding halt as the day coincided with the anniversary of Babri mosque demolition, which is observed as 'Black Day' by various groups.
Customers will not be able to conduct transactions in banks for 4 days in a row as they will be closed from Thursday in many states.
While some of the banks mentioned in the report said they have not come across any such fake apps, others have started an inquiry and also informed the CERT-In -- the national nodal agency for responding to computer security incident.
Banks will remain open for the public even on the weekend
Non-Performing Assets are a wake-up call for public sector banks.
All documents and data were safe as there was a Disaster Recovery Centre for every bank
2 masked assailants shot dead 3 persons carrying bank money in a busy commercial area.
Apart from Gujarat, Shah claimed that co-operative movement is still active in many other states, such as Maharashtra, Karnataka and Rajasthan.
A day after the RBI put in public domain a draft scheme of merger of Lakshmi Vilas Bank (LVB) with subsidiary of Singapore-based DBS, public sector banks' officer union AIBOC on Wednesday said the amalgamation is not in the national interest and demanded the consolidation with any PSB. The proposed amalgamation of the cash-strapped LVB with DBS Bank India seems to be a ploy to provide entry of foreign banks into the country in a big way, All India Bank Officers' Confederation (AIBOC) president Sunil Kumar said. The Indian banking sector provides huge opportunity for growth, so the foreign banks have been looking at inorganic route to expand their presence for long, he said.
Yes Bank users can now make over Rs 2 lakh payments towards loans, credit cards via other bank accounts.
Every bank offers a different slab of minimum balance to customers, based on which 'free services' are provided
SBI had a tough journey in the last 40 years.
In addition to the problem of long queues at automated teller machines, there would be the problem of guiding new cardholders, especially in rural and semi-urban areas, on how to use those cards, some bankers told Business Standard.
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 RBI 'assured people' that enough cash in small denominations is also available at banks.
Priyadarshini Maji evaluates the impact that payment banks are likely to have on your financial life.
At Rs 30.88 lakh crore, the currency with the public is 71.84 per cent higher than the level for the fortnight ended November 4, 2016.
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