banking

In India, close to 20 lakh cheques are bounced or dishonoured every year. Traders’ Associations all over India has requested the Govt. to stop this menace of bounced cheques, and have asked for stricter rules. Hearing these pleas,…

While on one hand PM Modi and Govt. of India is going full throttle on encouraging digital transactions and cashless economy, India’s largest bank, State Bank of India, has some other plans. Effective today, SBI has introduced 5…

Amidst rising digital transactions all over the country, the issue of transaction frauds is also cropping up, with the same proportion. And these rising complaints and feedbacks related to such frauds are being noticed. Deputy…

Paytm will soon be turning into a Payments Bank, as the digital wallet will pass through a transformation. The news came out couple of days back, as CEO Vijay Shekhar Sharma issued a public notice, announcing the launch of Paytm…

Paytm has been planning to launch its Payments Bank for so long now, and the company even integrated UPI on its platform for the same. Because of some hurdles, Paytm was unable to officially start operations of its payments bank.…

In the last couple of months, bank account holders have been receiving urgent SMSes and calls from banks, asking to link their Aadhaar cards with the bank accounts. I have personally received around 10 such messages from HDFC Bank, and…

Under FATCA provision (Foreign Account Tax Compliance Act), Income Tax Department has asked all banks and financial institutions to seek self-certification from bank account holders, before April 30th. Failure to do so will lead to…

While India is approaching more flexible methods for online payments to counter the challenges faced after demonetization, NITI Aayog CEO Amitabh Kant has said that digital transactions will be done via mobile wallets and biometric…

When the ban on currency notes was announced in India, the Government of India decided to promote a digital economy through the usage of debit and credit cards, e-wallets or online banking. However, now that remonetization has started,…

Quick Heal has detected a serious security breach at Cosmos Bank’s website. As per the findings, their website has been compromised by RIG Exploit Kit, and as a result, all visitors to their website are being automatically infected by…

ICICI Bank has decided to jump into the agriculture sector with a new enthusiasm and outlook. They have just launched a new app, called ‘Mera iMobile’, targeted at rural customers, which is offering 135 agri-services, across 11 Indian…

When it comes to the security of financial data and privacy, it seems that India has hit a new low. While Govt. of India has admitted that close to 30 lakh debit cards were infected by malware, which threatened financial privacy and…

As per latest Reserve Bank of India (RBI) data, ICICI Bank and SBI has emerged as the banks which witnessed most number of frauds between April-December 2016 period. Incidentally, ICICI Bank is the largest private sector bank, while…

In continuation with Govt. of India’s cashless push, several new developments have taken place in the last 24 hours. While all banks have been ordered to activate Internet & mobile banking for all customers by March 31, several…

Axis Bank, which is India’s 3rd largest private bank, has received a major set-back and a big blow to its reputation because UIDAI has banned all Aadhaar based transactions on their platform. This is a temporary ban, executed because of…

Airtel Payments Bank has decided to jump into the lucrative financial products niche and will be soon selling mutual funds and insurance policies. As of now, Airtel Payments Bank has 2,50,000 banking points across India and…

In a major push for seamless cashless transactions, Govt. of India has launched Bharat QR Code, which is world’s first interoperable payment platform. National Payments Corporation of India (NPCI), which is the umbrella organisation…

There has been a growing demand from business community and consumers to bring down the additional expenses related to cashless transactions. Right now, there is an additional surcharge, called MDR or Merchant Discount Rate of 0.75% if…

On November 8th, Govt. of India had announced one of the biggest financial shake-ups this country ever witnessed, when it demonetized Rs 500 and Rs 1000 currency notes, thereby cancelling the legality of 86% of circulating cash in the…

HDFC Bank has become India’s first bank to deploy a robot inside their branch for customer service purpose. This interactive humanoid, christened as IRA or Intelligent Robotic Assistant will be able to greet customers, and then offer a…