The Reserve Bank of India on Friday directed banks to reimburse customers for amounts wrongfully debited from their accounts in failed ATM transactions within seven days of an account holder's complaint or else pay a Rs 100 per day compensation.
'Our unsecured loan is not exactly unsecured. It is backed by cash flow of customers.'
Vortex Engineering has launched one of India's greatest initiatives to extend banking services to several parts of rural India.
Rajkumar Singh, a native of Punjab, was nabbed late Saturday night with help from the police of Karnataka capital and was being brought to Goa, a top official said.
The UFBU is an umbrella body of nine bank employees unions of the country and claims to have members from public, private and foreign banks. "We are on strike from today as Indian Banks' Association did not concede to the bank unions demand for the wage hike," said United Forum of Bank Unions convener C H Venkatachalam.
Railway Protection Force (RPF) constable Chetansinh Chaudhary, who shot dead his senior and three passengers on board a moving train last month, has been dismissed from service, an official said on Thursday.
The message is clear: The 60-year-old wise uncles need to handhold the 40-year-old entrepreneurs when, obsessed with ambition and greed for growth, they become a victim of hubris, points out Tamal Bandyopadhyay.
As per police, the company handled cash for bank ATMs, malls and jewellers. At the time of the incident, the cash collected was kept in the office.
Cruelty by the husband (or his relatives) accounted for about 40 per cent of these cases. Delhi reported the highest number of cases of crimes against women (12,552) followed by Mumbai with over 5,000 cases.
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.
Days after cash and ornaments valued at over Rs 2.25 crore were found missing from an Axis Bank branch in Manipur's Churachandpur, criminals targeted another bank in Kangpokpi district and looted computers and other electronic items worth nearly Rs 1 crore, officials said on Friday.
IDBI Bank, UTI Bank, Citibank and Standard Chartered Bank on Wednesday came together to launch an independent shared automatic teller machine network, covering six million cardholders in 100 cities of India.
Replying to supplementaries during Question Hour in Rajya Sabha, Telecom Minister Kapil Sibal said there are 154,688 post offices in the country, the largest postal network in the world.
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'We went from zero to about 10 million users in three months. Paytm came out with the wallet play and we came out with the UPI play.'
The Congress leader, who resigned as the chief minister Sunday night, emerged victorious in the Patan assembly seat, defeating BJP candidate Vijay Baghel by 19,723 votes in the state assembly elections held last month.
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It appears as though the police have given up their search for the assailant who brutally attacked a woman bank official with a lethal weapon in a Bengaluru ATM kiosk in November.
Lens on rural transactions. Only 38% of branches of scheduled commercial banks (SCBs) are in rural areas
The Reserve Bank on Friday superseded the board of the city-based Abhyudaya Cooperative Bank on concerns emanating from "poor governance" and appointed an administrator to manage the affairs of the lender. In what can be seen as a step that should allay depositors' concerns, the central bank did not put any restrictions or moratorium on deposit withdrawals because of the comfort it gets on the bank's finances, according to people in the know. "(The) action is necessitated due to certain material concerns emanating from poor governance standards observed in the bank.
At the press of a button in super-ATMs, investors would be able to transact and get all the information about mutual fund schemes.
The RBI plans to increase e-smart facility.
Has Vijay Shekhar Sharma given up on the bank? For now, he seems to be on a save-OCL mission. The bank will face its logical end, observes Tamal Bandopadhyay.
The apex bank has sent a communication in this regard to Indian Banks' Association and this is expected to be implemented shortly, IBA chairman K Ramakrishnan told PTI. Since April 1, RBI had declared third party ATM usage, including cash withdrawals and account enquiries, free for all customers and said that banks can charge Rs 18-20 per month from other banks in case of third party ATM transaction.
According to Haley, the Biden administration resumed military aid to Pakistan, though it's home to at least a dozen terrorist organisations and its government is deeply in hock to China.
'The focus needs to shift towards the ability to collect payments, particularly in tier-3 to tier-4 areas where acceptance is still lacking.'
It can if your debit card belongs to a PSU bank
The Central Bureau of Investigation has arrested a man for allegedly altering Aadhaar card details to withdraw Provident Funds of unsuspecting persons through online claims, officials said on Monday.
To implement the cap, banks will need to make various technological changes in the machines and that will take quite some time.
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.
The scam-ridden Congress government in Chhattisgarh has become a model of misrule and people have decided to root it out in the upcoming assembly elections, he said.
More than Rs 8 crore unaccounted cash has been seized in subsequent raids at various locations by Lokayukta. The arrested officer's father is Madal Virupakshappa, the MLA representing Channagiri constituency in Davangere district of the state.
Our work in last five years and the problems people are facing due to demonetisation will lead us to victory, he said.
Any narrative against the Dravidian model may impact the BJP's prospects in Tamil Nadu. This may explain why the BJP in Tamil Nadu is placing more emphasis on corruption allegations against the DMK, even as the party focuses nationally on the Sanatana controversy.
Authorities in Nuh district Sunday razed some illegal structures including a hotel from where stones were allegedly pelted on a religious procession last week, even as a mahapanchayat was held in support of four men arrested over arson at a mosque and the death of its junior imam.
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.
The 'thanksgiving and feedback' programme will also gauze public mood by asking them about the problems they face.
As many as 2,000 tourists stranded in Kasol area of Kullu district owing to incessant rainfall have been evacuated safely, Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu said on Wednesday.
Banks asked to maintain record of cash being ferried in these vehicles all the time
With the arrest of Deputy Chief Minister Manish Sisodia in the excise policy scam case, uncertainty looms over several critical Delhi government projects, including streetscaping and traffic decongestion plans, ahead of the G20 summit.
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