The unidentified hackers had executed money transfers on two separate occasions - August 11 and August 13 - which raises the question of why pro-active measures were not taken on the first night itself
Going to the bank and using your passbook to find out your bank balance while still available and widely used, technological innovations have brought your bank at your fingertips.
Ban on high-value currency sends advertising industry into a tailspin.
Second authentication for small value payments through credit cards can be reduced subject to conditions.
An RBI official said the supply of currency was adequate in the states facing a crunch at ATMs but the logistic issues led to the present situation
While for the consumers, there is some gain and some pain, for India Inc, it's all about compliance, consolidation and parity
A task force will speed up the recalibration of 200,000 ATMs so these can dispense the new Rs 2,000 notes.
At present, there is no cap on free transactions at own-bank ATMs, while customers can use other banks' machines up to five times a month without any extra cost.
Delays in returning money for disputed transactions have also come under RBI's scanner.
The Garhwal region collectively has deposits worth Rs 2,100 crore and advances worth Rs 1,000 crore.
A representative of the Confederation of ATM Industry said ATM players were not consulted about the move and they received the news via media platforms.
The problem is set to grow following issuance of 75 million new RuPay cards in the next six months with the launch of the Jan Dhan Yojana.
The Direct Benefit Transfer for LPG scheme was rolled out in 291 districts from June 1, 2013 in six phases to do away with the practice of selling the fuel at below cost rates.
An analysis for the first eight months of CY18 shows that the value of RuPay and UPI transactions constitute 65.2 per cent of all transactions done through debit and credit cards, in value terms, across retail outlets by the end of August.
It is likely he will rope in an international ATM manufacturer as a strategic partner with equity stake.
The ministry of railways is set to invite bids for content on demand and rail radio services, to be provided for travellers in April, says Shine Jacob.Shine Jacob in New Delhi
High interest rate, policy uncertainty in the year of elections, along with risk aversion led to slow takeoff in credit demand on the corporate front.
The comments come about a week after PSU bank employee unions went to a four-day relay strike to press for early revision of wages.
MGNREGA scheme: A significant Rs 17,370.58 crore has been carried forward over to the next financial year as unpaid dues as demand for work continued unabated for the scheme in rural areas.
At other bank ATMs, the customers of these banks will be charged beyond three transactions.
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.
'If supply of cash is not sufficient from the RBI, it may create difficulty for both banks and people.'
The GSAT-31 is a 'high power' communication satellite going to serve and replace some of the satellites that are going to expire soon.
Union Bank of India, Canara Bank, Andhra Bank, Saraswat Co-operative Bank and YES Bank have come together to allow inter-bank fund transfers through debit cards.
RLDA is a statutory authority established by the ministry of railways for generating non-fare revenue from railway land.
Currently, the fee is Rs 15 per financial transaction. This has been recommended to be revised to Rs 16.50, plus service tax (12%), taking the amount to Rs 18.48.
BoB now has over 9,500 branches, 13,400 ATMs, 85,000 employees to serve 12 crore customers.
Defence PRO said that the forces have managed to restore normalcy in the areas they were deployed and have been continuously working to aid the civil administration.
A white-label ATM is similar to a normal bank ATM but is not owned by a bank, instead by a private ATM service provider.
I kept insisting that Rs 100 notes were in short supply and there was an urgent need to augment the supply of 100 rupee notes while also rapidly bringing into circulation the proposed new Rs 500 notes. But this was easier said than done because all the note printing machines of the RBI were programmed for printing Rs 2,000 notes and required at least three weeks before the machines could print the new Rs 500 currency notes. The availability of currency paper posed another major bottleneck, and it had to be imported. It was decided to immediately start printing the Rs 500 notes. It was only when the supply of the new Rs 500 notes started improving and the process of change of cassettes at the ATMs gathered momentum that the situation began limping back to normal. A fascinating excerpt from former SBI chairman Rajnish Kumar's The Custodian of Trust: A Banker's Memoir, five years after demonetisation, November 8.
The RBI fell short of pumping Rs 150 billion into the economy at the beginning of 2018-2019.
Banks are pushing into credit cards and personal loans, using blanket advertising, cold call campaigns and even sending employees to malls to lure customers.
In the second of a four-part series, Business Standard checks out the currency press in Dewas to find target-based allowances have increased the monthly salary of employees from Rs 10,000 to Rs 30,000, at a time when notes are being printed 24x7.
The Reserve Bank of India has told banks not to levy penal charges for non-maintenance of minimum balances in any inoperative account.
Apart from streamlining loan processing, most public sector banks charge lower interest rate, an aspect which seems to be game changer.
Bankers and executives involved in ATM operations said challenges abounded in this segment.
The S&P BSE Sensex has rallied about 28 per cent in 2014, after formation of a stable government at the Centre.
Even as State Bank of India, the country's largest lender, has decided to charge its customers for more than five transactions through automated teller machines (ATMs), private sectors banks continue to be on a wait-and-watch mode.
The minders of the Modi government's economic policy believe it would take 7 to 8 quarters -- or till around late 2018 -- for the economy to reap the rewards of demonetisation.
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