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.
Every bank offers a different slab of minimum balance to customers, based on which 'free services' are provided
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.
Priyadarshini Maji evaluates the impact that payment banks are likely to have on your financial life.
Banks have reported that banknotes worth Rs 592,613 crore have been issued to the public.
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.
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Because of corrections in property prices and oversupply in the office segment, the rich are investing in hospitals, warehouses, ATMs and other alternatives to traditional investment options.
The combined entity is set to be the third largest bank in India, behind State Bank of India and ICICI Bank.
'The reason is that you may not enter the branch but you want to see it near you as it establishes trust.'
Non-Performing Assets are a wake-up call for public sector banks.
Although private banks continued to operate as usual majority of trade and industry was hit by the strike by staff of 25 nationalised banks who are demanding revision of wages and a second option for pension among other things. The Indian Banks' Association, a grouping of public sector banks, is yet to formally respond to the demands of the striking employees.
March 28 is a holiday on account of Ram Navami.
Most of the buses run by Telangana State Road Transport Organisation are also off the roads
In the same quarter a year before, most of them had reported a dismal performance.
The preference for digital banking now cuts across all customer segments.
There is enough cash available with banks and all arrangements have been made to reach the currency notes all over the country, RBI said.
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.
Tamal Bandyopadhyay details HDFC Bank's digital journey.
It is up to the bank management to decide which application gets to interact with the CBS
BoB now has over 9,500 branches, 13,400 ATMs, 85,000 employees to serve 12 crore customers.
Economic activity has regained momentum from late-May after the dent caused by the second wave of COVID-19, and the pandemic's impact on the overall asset quality has been less than expected, Reserve Bank Governor Shaktikanta Das said on Thursday. However, Das flagged rising data breaches and cyber-attacks as among the risks for the recovering economy, along with others like firming global commodity prices. The governor also said the second wave had a "grievous toll" on the country.
The facility is now available at 258 Big Bazaar and fbb stores in over 115 cities and towns across the country
RuPay is working on how to increase offers to customers. It is also focused on technology innovation in the card payment system.
'If Israel had stuck to the peace accords, Hamas would have had no one to fight.'
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.
SBI might present the first result for the combined entity at the end of the first quarter of 2017-18
Pawan Kumar Soni, a 55-year-old farmer based in Sri Ganganagar City in Rajasthan, became a victim of a cyber fraud when his 26-year-old son Harsh Vardhan opened a link from a phishing message that flashed on his mobile phone.
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.
Unless RBI temporarily relaxes the norms on recognising of bad loans, the pressure on this front could rise in the December quarter.
As of June, the gross NPA of nationalised banks was 3.89 per cent and State Bank Group at 5.50 per cent.
Since the first Aadhaar number was issued in September 2010, more than 1.33 billion Aadhaar cards have been generated till June 2022. With the Aadhaar enrolment of adult Indians nearing 100 per cent, the main objective of the Unique Identity Authority of India (UIDAI), which was to give Unique Identification numbers (UID) to all residents of India, is almost achieved, said a senior government official. "Enrolment will now be much more update-based, because people keep updating their mobile numbers and addresses.
Some ex-MLAs from Punjab, too, had received similar threats from these numbers. The callers spoke to them in Mumbai accent and in Punjabi, the IGP said.
Despite the demonetisation of 2016 and the rise in digital transactions that followed, the economy's dependence on cash has remained as high as ever. So when the Reserve Bank of India (RBI) introduced a pilot project of its version of digital cash - called the central bank digital currency (CBDC) - on December 1, many questions were asked. Can the CBDC replace physical cash, even partially? Can it match cash in terms of convenience? Are CBDC transactions truly anonymous?
Income velocity based on currency with the public went down from 0.93 in October to 0.84 in March says a report from SBI's economic research department
Seeking to create a global-sized bank, the Cabinet on Wednesday gave the go-ahead to the merger plan of SBI and its five associates, a step aimed at strengthening the banking sector through consolidation of public banks.
Banking services across the country were hit on Wednesday by the day-long strike by 10 central trade unions and 14 bank unions, but workers of largest lender SBI and a few other banks stayed off the agitation.
25,600 cases of banking fraud totalling Rs 1.79 billion were reported up to December 2017. 'There is an inherent legacy when it comes to insuring crime.' 'Generally, most banks are uncomfortable in sharing data about employee fraud.'
Many PSBs are in the process of rationalisation of ATMs
India is keen to expand its banking system to help support its economic growth, which is the second fastest after China among Asia's large countries. Unlike China, its financial system is still small relative to the economy and its banks are dwarfed by many of their international peers, in spite of their vast potential market in India and overseas.
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