Recent RBI data indicates net addition of credit cards is running strong at 18 per cent year-on-year (Y-o-Y), but growth in credit card limits is ahead of loans outstanding. Growth in lower limit cards is decelerating fastest. The West and South have more usage and online transactions are more popular than offline, with metros leading growth.
As many as 140 million customers of HDFC Bank and Axis Bank are expected to face interruption in banking services in the weekend due to the former's system upgrade and the transition of Citi India business to the latter. Both the banks have notified their customers about the interruption in services. HDFC Bank - the country's largest private sector lender with 93.2 million customers - had announced that it will undertake a system upgrade on July 13, wherein it will migrate its core banking system (CBS) to a new engineered platform to enhance customer experience.
Do you think the merchant outlets charging transaction fees on your credit card is a fair practice? Have you ever put your foot down and refused to pay the 2-2.5 per cent transaction fees and yet managed to buy the goods that you wanted? What are your opinions and experiences in this regard? We would like to hear from you.
Jyoti was among 12 people who have been arrested from Punjab, Haryana and Uttar Pradesh over the past two weeks on charges of espionage, with investigators pointing at an alleged Pakistan-linked spy network operating in north India.
While six of them have been held from Punjab, five were nabbed from neighbouring Haryana, and one from Uttar Pradesh.
Rediff labs team analyses the data from the National Crime Records Bureau on cyber crimes that have been reported across the country.
Come August 1, it will be compulsory to have a personal identification number (PIN)/password for all online credit and debit card transactions in the country.
'BSE has facilitated nearly Rs 35 trillion in capital raising across multiple segments.'
Fraudsters lure individuals with false promises of recovering bonuses or maturity proceeds from lapsed policies.
Cracking down on repeated non-compliance of IT norms, the RBI on Wednesday barred Kotak Mahindra Bank from onboarding new customers through its online and mobile banking channels and issuing fresh credit cards with immediate effect after the regulator found "serious deficiencies" in the lender's IT risk management. These actions, the RBI said, are necessitated based on significant concerns arising out of Reserve Bank's IT examination of the bank for the years 2022 and 2023 and the continued failure on part of the bank to address these concerns in a comprehensive and timely manner.
While making online purchases, the cardholder will have to use this second verification apart from the card verification value number, which is the main saftey parameter used presently. As per the RBI guidelines, customers will have to register their cards from tomorrow onwards with the respective merchants--Visa or Master Card and create a security password.
The Central Bureau of Investigation (CBI) conducted searches at seven locations across India in connection with a Rs 350 crore crypto ponzi scam. The accused, operating seven modules in different cities, allegedly lured investors with promises of high returns on cryptocurrency investments. The CBI seized digital virtual assets totaling USD 38,414 in cryptocurrency wallets, cash amounting to Rs 34.2 lakh, and digital evidence, including mobile phones, laptops, tablets, hard disks, and memory cards. The agency registered the case under the Indian Penal Code and the Information Technology Act.
Online mutual fund (MF) investment platforms like Groww, Zerodha Coin and Paytm Money, which allow investments in direct MF schemes for free, will soon be able to charge their customers or the fund houses for executing transactions. "They can charge some money but commission-like structure won't be allowed," Madhavi Puri Buch, chairperson of the Securities and Exchange Board of India (Sebi), said on Tuesday. At present, none of these online investment platforms generate any revenue through the MF sales.
It's not e-retailers alone. Bankers are also celebrating initiatives like 'Big Billion Day Sale' this festive season.
Here's what you must know about the new rule, its implications, and whether it affects taxpayers' rights and privacy.
According to the eBay India Census 2008, India's top five e-commerce hubs are Mumbai, Delhi, Hyderabad, Bengaluru and Chennai. "Over 2,427 cities had online transactions in 2007. The IT hubs of Andhra Pradesh, Kerala, Maharashtra, Tamil Nadu and Karnataka were the most wired states of India, with the maximum number of towns where e-commerce originates," says eBay India Director (category management) B Muralikrishnan.
'With a very stable technology with limited functionalities, a large network has spanned out.'
Amazon Pay UPI has crossed 100 million customers, with the online platform used mainly for e-commerce transactions, utility bill payments and mobile recharges, the company announced on Monday.
The Securities and Exchange Board of India (Sebi), in a circular dated April 11, 2025, warned investors about rising fraud and manipulation linked to the securities market on social media platforms.
With rising disposable incomes in cities beyond metros, the penetration of credit cards - and consequently, credit card spending - is growing at a much faster pace than in traditional metro cities, primarily driven by e-commerce spending.
In today's rapidly evolving digital payment landscape, security concerns remain a top priority for stakeholders across sectors.
Online play is a priority now -- so far unthinkable in a business that's all about a meaningful interface with kirana stores.
The government on Friday proposed hiking the securities transaction tax on Futures & Options (F&O) contracts, a move that will increase the trading costs in the derivatives segment as well as help in curbing excessive trades. In the Finance Bill 2023, passed by the Lok Sabha on Friday, the Securities Transaction Tax (STT) on options is proposed to be increased to 0.0625 per cent from 0.05 per cent and on futures contracts to 0.0125 from 0.01 per cent. Analysts opined that higher STT will shore up the government's revenues to some extent and also discourage excessive trading since a large number of retail traders are losing money in the segment.
Through this mobile application, the handset will be used for authenticating biometrics of customers making Aadhaar enabled payment.
Bisht used the fake profiles to connect with women aged between 18 and 30 years on various onlione dating platforms.
Link your UPI app to a separate bank account or wallet that has only a limited sum.
'There is no independently verified imagery or battlefield evidence to support Pakistan's claim.'
India had an Internet user base of 243 million in 2014, of which 35 million were online shoppers.
A single security lapse could lead to complete wipe out of your crypto assets in seconds, with no recovery in sight, warns Nikhil Sethi.
There was such a rush that more counters were opened outside the GPO building, under the open sky, he added.
Seventeen persons, including four hailing from Taiwan, were arrested by Ahmedabad Cyber Crime Branch for allegedly operating a nationwide 'digital arrest' racket, a Gujarat police official said on Monday.
Several investors wanting to invest in mutual fund schemes, amid the selloff in the market on Tuesday, were left in the lurch as online MF investment platforms failed to execute the transactions on time.
The victim, who had a keen interest in stock market investments, was lured by fraudsters with promises of hefty returns on investments in stocks.
With digital adoption fast gaining currency, India is likely to see retail digital payments double to $7 trillion by 2030 from current levels, a study by Kearney and Amazon Pay said. In the report 'How Urban India Pays', Kearney-Amazon Pay said strong adoption of digital payments in online purchases has potentially led to a permanent shift in consumer behaviours, fuelling offline adoption as well.
These directions on enhancing security of card transactions will come into effect from March 16, 2020, as per the RBI notification.
If you have questions related to online insurance frauds, then Piyush Ranjan, chief technology officer, Coverfox Insurance, will answer your queries.
If you think nobody will ever try to breach your data online get out of your shell. NOW!
