To educate customers on the modus operandi of financial fraudsters and share inputs on safe banking habits, banks are now coming up with awareness campaigns aimed at preventing customers from falling into the trap of fraudsters.
While a wallet is convenient, payments bank offers interest on deposits and ATM facility.
Do you save more money if you use bank portals for online shopping?
FASTag is a prepaid tag, affixed on vehicle's windscreen, that enables automatic deduction of toll charges and lets the vehicle pass through the toll plaza without stopping for the cash transaction.
Can this growth in GST collection be sustained in the coming years? asks A K Bhattacharya.
Encouraging results for PayTM (One97 Communications) for the 2022-23 financial year (Q4FY23) have led to a surge in the company's stock price, gaining nearly 5 per cent during Monday's trade. PayTM reported Q4FY23 revenues at Rs 2,330 crore, up 51 per cent on year-on-year (YoY) basis (13.2 per cent quarter-on-quarter or QoQ), led by monthly transaction user (MTU) growth of 27 per cent and average revenue per user or ARPU growth of 19 per cent YoY. MTU is defined as users with at least one transaction/month.
Consumer loans or personal continue to record the highest fraud incidence.
India recorded 50,035 cases of cyber crime in 2020, an 11.8 per cent surge in such offences over the previous year, according to the National Crime Records Bureau (NCRB) data. The Reserve Bank of India (RBI) last week once again cautioned bank customers of fraud, including those in Know-Your-Customer (KYC) cases. In fact, certain frauds have become more prevalent than others, and being aware of them is the first step towards protect yourself. Mayur Joshi, chief executive officer, Indiaforensic.com, a company engaged in the prevention, detection, and investigation of frauds says, "It is necessary to learn, to read about these scams."
Foreigners and NRIs will soon be allowed to book train tickets online for domestic travel in India from abroad using their credit or debit cards.
Your next ride via the Ola app in an auto rickshaw could be cashless.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The government has also developed a PAN activity monitoring.
Pawan Kumar Soni, a 55-year-old farmer based in Sri Ganganagar City in Rajasthan, became a victim of a cyber fraud when his 26-year-old son Harsh Vardhan opened a link from a phishing message that flashed on his mobile phone.
If you are have an account with State Bank of India, HDFC Bank or Axis Bank you will have to pay higher charges for using ATM more than five times a month.
An app by the bank lets customers carry out a slew of banking functions via the social media site.
Jio Financial Services, the demerged financial services unit of Reliance Industries, will be listed on bourses on August 21, according to an exchange notification. Jio Financial Services Ltd (JFSL) demerged from Reliance last month and is currently listed under a dummy ticker after its price discovery at Rs 261.85 but there is no trading happening in the scrip. The listing on BSE and NSE has been scheduled a day before FTSE Russell plans to drop JFSL from its indices.
Shine Jacob & Karan Choudhury highlight the red flags raised by the Controller General of Accounts.
In January, Visa's chief executive officer, Al Kelly, said during an earnings call that "there's been a burst of the balloon in valuations in the fintech world". Noting that the trend of lower valuations "is a helpful characteristic of the current environment", he added: "We will look for capabilities and management teams that will bring more value to Visa than we can bring ourselves." Data from KPMG's Pulse of Fintech H2'22 shows that global fintech investment - via mergers and acquisitions (M&As), private equity (PE) and venture capital (VC) firms - at $164.1 billion in 2022, was down 31 per cent over the year before. Indian fintechs held up better during this timeframe, attracting $6 billion, or a fall of 24 per cent.
'Make every trip feel like an escape' says the Uber website. Ironically, it remains to be seen how the company can get away from this controversy.
The Reserve Bank on Wednesday barred Mastercard Asia Pacific from onboarding new credit, debit and prepaid card customers with effect from July 22 as it failed to comply with data storage norms. The supervisory action will not impact existing customers of Mastercard, the Reserve Bank of India (RBI) said. Taking action against Mastercard, RBI said, "notwithstanding lapse of considerable time and adequate opportunities being given, the entity has been found to be non-compliant with the directions on Storage of Payment System Data".
Don't reveal any information to strangers.
It suggested reforms in the real estate sector.
While several banks and ATMs are providing cash far below the allowed limit every now and then due to cash shortage, the damage caused by the cyclone has dealt a further blow with movement of cash vehicles coming to a grinding halt, resulting in empty ATMs.
PM extended some old schemes and finally said yes to one that was legally mandated for past 2 years.
Unbanked customers can expect easier access to banking.
Digital services work best when the seller designs a system where default options are designed to help the buyer, says Debashis Basu.
The interface allows you to add multiple banks and transfer money, even between payment wallets, for a fraction of existing costs
A merchant using the bank's merchant App, QR code, PoS or Payment gateways, across all segments, including electronics, apparel, grocery, stand to win assured cashback and prizes on volume build-up, EMI or digital transactions.
Readers tell us how they are managing without cash since November 8.
Telecom regulator TRAI on Tuesday suspended the newly-implemented norms for commercial text messages for one week, following major disruptions in SMS and OTP deliveries for banking, payment, and other transactions.
ICICI bank waives ATM charges.
In an online chat with readers, Investment Advisor Harsh Roongta answered their queries on the ban on Rs 500 and Rs 1000 notes.
The number of cyber crimes in India could touch 3,00,000 in 2015
Whether it was the MGNREGS or the NFSA or the Aadhaar-based DBT scheme for cash transfer, the Modi government has built on the basic architecture created by the Singh government. Policy makers in the Modi government, instead of discarding them as products of the previous political regime, worked on them, expanded their scope and reach, and used new tools to improve their performance, explains A K Bhattacharya.
Multi-currency pre-paid cards are a good option while travelling abroad.
With big data analyses, your investments, spends and big purchases are being tracked more closely now by the income tax department.
But what do banks gain by opening their apps for all? The answer -- rival bank's customers under their fold.
The minimum amount of recharge is Rs 10 and the maximum is Rs 250.
If the CBDCs don't offer interest, why will people shift from cash to CBDCs?, asks Tamal Bandyopadhyay.
The cap of Rs 10,000 on daily withdrawal has also been removed.
