Mumbai Police have arrested two men within hours of them allegedly stealing over Rs 63 lakh from an ATM cash van in Kandivali. A significant portion of the stolen cash has been recovered.
The State Consumer Disputes Redressal Commission has directed Bank of India to compensate a senior citizen for losses incurred due to unauthorized ATM transactions, citing deficiency in service and failure to adhere to security protocols.
A consumer commission in Nagpur, Maharashtra, has penalised Axis Bank for deficiency in service, ordering a refund and compensation to a customer over a failed ATM transaction from 2018.
A State Bank of India report indicates a sharp increase in precautionary cash holding in India, with the gap between per capita currency in circulation and ATM withdrawals widening significantly, driven by global uncertainties despite record digital payment transactions.
Credit card transactions in India have surged over 2.6 times between 2021 and 2025, driven by private sector banks, while debit card usage declines due to growing adoption of UPI and digital wallets, according to an RBI report.
Delhi Police dismantled multiple interstate cyber fraud syndicates in a month-long operation, arresting 35 and bringing 89 offenders to justice. The syndicates were involved in various scams, including digital arrest, investment fraud, and fake dating schemes, with transactions worth nearly Rs 40 crore.
Jharkhand police have uncovered an interstate cyber fraud network and arrested four individuals involved in fraudulent transactions across 24 states. The investigation was initiated following inputs from the Union Home Ministry's 'Samanvaya portal', leading to the discovery of a bank account in Ramgarh district used for the illicit activities.
Delhi Police have dismantled an interstate cyber fraud syndicate, arresting 14 individuals allegedly involved in fraudulent transactions exceeding Rs 8 crore. The accused targeted job seekers with fake work-from-home opportunities via social media and job portals.
Jio Payments Bank introduces UPI-based cash withdrawals at business correspondent touchpoints, enhancing financial inclusion and simplifying access to cash for rural and semi-urban customers.
Delhi Police have arrested two men from Gujarat for allegedly defrauding a Delhi resident of Rs 9.75 lakh under the guise of high-return share market investments.
Kanpur Police have dismantled a sophisticated cyber fraud syndicate, arresting eight individuals, including five bank officials, for facilitating mule accounts and hawala transactions worth Rs 125 crore.
But selectively, with regulatory scrutiny and special approval, points out Tamal Bandyopadhyay.
A software engineer earning a high salary allegedly abandoned his career to run a fake online trading racket, duping investors of nearly Rs 100 crore.
Delhi Police have dismantled a major international cyber fraud syndicate, arresting the alleged mastermind and 10 others. The syndicate is linked to over 2,000 complaints and scams worth over Rs 300 crore, with connections to international cyber fraud operations in Cambodia.
The Enforcement Directorate (ED) is investigating the use of foreign debit cards by a global Christian mission to withdraw crores of rupees in Naxal violence-hit regions of India. Searches were conducted in multiple states, and foreign debit cards, cash, and digital devices were seized.
Police in Rajasthan have arrested 38 individuals involved in a nationwide cyber fraud network, unearthing scams worth over Rs 10 crore under 'Operation Mule Hunt'. The accused operated from various locations, including Dubai, and lured victims through investment, trading, and escort service schemes.
Congress leader Rahul Gandhi has accused Assam Chief Minister Himanta Biswa Sarma of corruption and land grabbing, promising action if the Congress party wins the upcoming elections in Assam. Gandhi also criticised the BJP's governance and economic policies.
Three individuals have been arrested in Shivamogga, Karnataka, in connection with a nationwide cyber fraud operation involving over Rs 82 crore and 352 registered complaints.
Two chartered accountants have been arrested by the Enforcement Directorate in connection with a money laundering case linked to a cyber fraud involving Rs 641 crore.
Unidentified men posing as central government officials intercepted a cash van in Bengaluru and allegedly fled with about Rs 7 crore. Police are investigating the incident and have formed teams to hunt for the suspects.
The government informed Lok Sabha that security forces have neutralised 29 top Naxal leaders since 2019, with a significant reduction in affected districts.
Bengaluru police have arrested three people, including a police constable, in connection with the Rs 7.11 crore robbery in the city. A significant portion of the stolen money has been recovered, and efforts are underway to apprehend the remaining suspects.
According to A Krishna Kumar, Managing Director, the bank will try to maintain the employee strength at current levels even as it keeps expansion programmes in mind.
Rediff.com's A Ganesh Nadar takes a tour of banks in a Chennai suburb and finds that nothing has changed in one month since demonetisation.
In the Union Budget for Financial Year 2023-24 (FY24), Finance Minister Nirmala Sitharaman had held forth on the need for better governance and investor protection in the banking sector. She had proposed certain amendments to the Reserve Bank of India Act (RBI Act), 1934; the Banking Regulation Act (BR Act), 1949; and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
A man who had gone to withdraw money at an ATM in Sangam Vihar in New Delhi allegedly ended up getting four notes of Rs 2,000 with "Children Bank Of India" written on them, police said on Wednesday.
While a giant, it's a nimble-footed one, and is growing at a speed that even some of its private sector peers find enviable.
Between FY18 and FY24, it doubled its balance sheet. Despite being a late entrant in some segments, it has been able to grab market share, observes Tamal Bandyopadhyay.
In 2023-2024, 95 scheduled commercial banks received over 10 million complaints from their customers. The process of KYC at many banks has become 'HYC' -- harass your customer, points out Tamal Bandyopadhyay.
A caretaker-cum-security guard of a State Bank of India ATM centre in Bhayander, a township in Thane district adjacent to Mumbai, on Friday night looted Rs 23 lakh cash after locking up a mechanic in a room.
More people are now comfortable using their debit cards.
The Budget for 2016-17 has announced a massive rollout of ATMs and micro-ATMs.
Isha was the custodian of the cash at the time it was being placed in 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.
State Bank of India has entered into an alliance with HDFC Bank for sharing ATM networks to be operationalised from February 3 this year.
But what do banks gain by opening their apps for all? The answer -- rival bank's customers under their fold.
Bengaluru resident Krishnan H tells us about a State Bank of India ATM counter where most of the machines are dysfunctional.
Indian origin Hindus living in Europe and US are mulling opening overseas chapters of Prayagraj-based 'Ram Naam Bank' in their countries. On the occasion of Ram Navami on Sunday, the idea of opening a Ram Naam Bank was discussed among the devotees in Sweden.
SBI to introduce OTP-based ATM transactions and the new feature will not require any major change in the present process to withdraw cash.
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