If RBI's recommendations are finalised, it will give more teeth to the existing fair practice code
Contactless card transactions can be up to three times faster than cash payments
Contactless card transactions can be up to three times faster than cash payments
While the acceptance of cards, mobile wallets and banking apps is increasing, only 10 per cent of transactions take place through them.
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.
A female agent working for the Pakistani intelligence from Mangalore oversees hawala transactions that help pump money to terror outfits. Vicky Nanjappa reports
The facility can be accessed using internet banking, Aadhaar number, ATM and email.
Both HDFC Bank and ICICI Bank have come to be acknowledged as the best in their fields, with complementing strengths and far-sighted game plans.
Amid increasing popularity of virtual currencies in various parts of the world, the Reserve Bank of India (RBI) on Monday said it is open to exploring the possibility of a digital version of fiat currency. Host of private digital currencies, virtual currencies and cryptocurrencies have gained popularity in recent years, though Indian authorities continue to remain sceptical about them. "In India, the regulators and governments have been sceptical about these currencies and are apprehensive about the associated risks. "Nevertheless, the RBI is exploring the possibility as to whether there is a need for a digital version of fiat currency and in case there is, then how to operationalise it," the RBI said in its booklet on 'Payment Systems in India -- Journey in the Second Decade of the Millennium'.
Anticipating panic and rush at bank counters, the Reserve Bank of India as well as the government has set up control rooms in Mumbai and the national capital to avoid any crisis, Department of Economic Affairs Secretary Shaktikanta Das said.
If the credit card is not used judiciously, it can cause havoc with one's personal finances, warns Sarbajeet K Sen.
The cap of Rs 10,000 on daily withdrawal has also been removed.
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.
The staff of public sector banks had gone on a nationwide strike for two days beginning February 10 after discussions with the IBA failed.
Unbanked customers can expect easier access to banking.
With a surge in users and transactions in two weeks, payment wallets step up cashbacks to get more users online.
So how does one be safe? Here are some basic guidelines -- dos and don'ts -- to help you be secure when using a card.
Work fetches money and that is what keeps us going. But how about money fetching more money? We plan to give you what you need to get started.
After the recent attack on debit cards exposed the gaps in their security systems, banks are getting serious about data privacy.
Jifi is a zero-interest current account with no minimum balance conditions, and can be opened with an initial payment of Rs 5,000.
More people will be literate, on the Internet, linked to the national identification scheme and likely to receive electricity, especially from alternative-energy sources.
KV Kamath has had a tough journey so far.
The SC sought response of all the petitioners who have challenged demonetisation.
Taxi booking, shopping and transfer of money will be easy.
Cardholders must ensure their debit cards are used in their presence.
The government on Tuesday extended the deadline for filing income tax and GST returns, raised the threshold of default that could trigger insolvency of a company, and waived charges on cash withdrawals from ATMs of other banks as a precursor to a broader stimulus package for the economy distressed by the coronavirus outbreak.
In the fifth of a six-part series on the impact of demonetisation, Avishek Rakshit senses a storm brewing over the 850-odd tea gardens in the north eastern state, which have a weekly and fortnightly payment cycle.
Taking a dig at Narendra Modi's demonetisation move, Uttar Pradesh Chief Minister Akhilesh Yadav termed cashless economy as a "bigger dream" than 'achche din' and said the note ban will be an issue in the upcoming assembly elections in the state.
Each postman has undergone a three-tier training process, after which they were evaluated by the National Institute of Banking and Finance and given certificates.
The interface allows you to add multiple banks and transfer money, even between payment wallets, for a fraction of existing costs
'The experience so far is a shocking example of how critical scheme of national importance can be brought into disrepute by inefficient and badly designed implementation,' says Dr Madhav Godbole, the former Union home secretary.
The preference for digital banking now cuts across all customer segments.
What should investors do post-demonetisation?
The bank's response came to a clarification sought by stock exchange on recent reports on debit cards blocking in the wake of suspected data breach
Readers tell us how they are managing without cash since November 8.
The old note will continue to be accepted for other utility bill payments as well as at railway ticketing counters and counters of government or public sector undertaking buses for purchase of bus tickets till December 15
'Overall, compared to the previous episode, we are in a better shape because the vaccine is already out there and vaccination drives are proceeding'
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.
