The minister also exempted components from taxes to encourage domestic manufacturing of these devices.
SBI had a tough journey in the last 40 years.
If RBI's recommendations are finalised, it will give more teeth to the existing fair practice code
The government plans a mega launch of the Pradhan Mantri Jan Dhan Yojana (PMJDY) by Prime Minister Narendra Modi on August 28, which is likely to see opening of one crore bank accounts on the first day itself.
Post DeMo and GST, business outlook remain diminished among both buyers and sellers
In all the time he has spent in bank and ATM queues, these are the 10 arguments that were being thrown at him constantly by those supporting the demonetisation, says Syed Firdaus Ashraf.
What can households do with the old Rs 500 and Rs 1,000 notes? How can they find Rs 100 and smaller denominations?
SBI introduced this products three months after the Reserve Bank issued guidelines allowing minors over 10 years to operate bank savings accounts independently and use facilities such as automated teller machines and cheque books.
Every customer, on opening a Payments Bank account, will get a cashback of Rs 250 as soon they bring deposits of Rs 25,000 in their bank account. The account will have zero balance requirement and every online transaction (such as IMPS, NEFT, RTGS) will be free of charge.
Amid the crisis has risen an outpouring of empathy from ordinary people across India led by the civil society, who have stepped up to help migrant labourers, domestic helps, construction workers, and small scale workers who were left jobless because of the nationwide lockdown.
A Europe-like cyber security defence alliance is the need of the hour, say banking technology experts.
"Our government does not delay decisions. We neither nurse problems nor keep them pending," Modi said.
Other private banks also planning to employ bots soon
Former media baron Peter Mukerjea, husband of prime accused Indrani Mukerjea in the Sheena Bora murder case, was on Friday charged with murder.
'This wipes out the entire black money in the nation in one stroke. Ninety per cent plus of the black money is kept in Rs 500, Rs 1,000 notes. What they have done is a brilliant move.'
Extended check-in time, frequent disinfection every hour, additional queue managers at entry, exit, boarding point, check-in halls, security check areas and boarding gates, with social distancing markers and reminders - welcome to our airports post-coronavirus.
Tamal Bandyopadhyay details HDFC Bank's digital journey.
Jifi is a zero-interest current account with no minimum balance conditions, and can be opened with an initial payment of Rs 5,000.
The start of BHIM's declining share coincided with the launch of Google Tez in mid-Septem
Obscenity, cheating and sexual exploitation are India's leading cyber crimes, reports Chaitanya Mallapur.
While flight operations have already resumed, inter-intra state train services also were partially operating since Tuesday night, they said.
The Supreme Court on Friday dubbed as a "serious issue" the long queues outside banks and post offices and expressed its reservation on the Centre's plea seeking a direction that no other court in the country should entertain petitions challenging the November 8 notification demonetising Rs 1,000 and Rs 500 currency notes.
For those who are sceptical about using debit or credit cards, even when faced with cash crunch, Adhil Shetty, CEO of BankBazaar.com, lists out a few safe cashless options that can be exercised through mobile phones.
'This is not only a fight against corruption and black money, this is also a fight against terrorism and counterfeit currencies.'
Every bank offers a different slab of minimum balance to customers, based on which 'free services' are provided
Things are expected to change dramatically in a few years for urban consumers.
Electronic transactions are rising fast, so are cases of payment failure and delayed settlement. One needs to be proactive.
The interface allows you to add multiple banks and transfer money, even between payment wallets, for a fraction of existing costs
'People are trying to save money because of uncertainty and insecurity.'
'Reports of hitherto 'atmanirbhar' breadwinners having to stand in line for a plastic bag of khichdi or, travelling thousands of kms with nothing but packets of biscuits, have not moved the prime minister,' observes Jyoti Punwani.
It's not e-retailers alone. Bankers are also celebrating initiatives like 'Big Billion Day Sale' this festive season.
Before Lok Sabha and Rajya Sabha was proceedings were disrupted by a relentless Opposition over the demonetisation issue, other topics such as compensation for military personnel, counterfeit notes were spoken of. Here's what happened in Parliament.
In an attempt to acquire consumers, banks have been providing a lot of technology-enabled services, which used to be offered free.
Fear of Sheena Bora inheriting the entire property of her and her husband in the event of the victim's marriage to Peter Mukerjea's son Rahul is said to be the prime motive for Indrani Mukerjea to do away with her daughter, according to the Central Bureau of Investigation chargesheet in the sensational case.
A well-executed film with good performances, Sigaram Thodu is definitely worth watching.
Days after the PM announced a financial inclusion package, a look at how banks and insurance firms are going about it and what lies ahead.
Digital services work best when the seller designs a system where default options are designed to help the buyer, says Debashis Basu.
'The mindset of people needs to change.' 'We still believe in accepting cash when we can do business with digital money as well.'
Hours after the government banned Rs 500 and Rs 1,000 notes, Indians are facing an acute shortage of change.
While payments banks surely lose money, their operating ratios were looking better in 2017-18 compared to the year before. This implies that as customer volumes start picking up, the business models may perk up too, says R Jagannathan.
