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Malware Attacks Unleash Chaos Across Banking Systems; SBI Blocks 6 Lakh Debit Cards; Axis Bank Hires…
Hackers have unleashed a war on Indian Banks, and there is chaos all around. The worst thing is that banks have been caught unaware, as their security has been breached since past few weeks, and no one actually knows the extent of…
ICICI Bank Becomes First From India To Successfully Execute Blockchain Transaction; International…
International trade finance and remittance is a complex banking operation, which is dependent on lengthy paper trail and manual forex currency conversions, which sometimes takes days to execute.
In order to make the process simpler…
ICICI Bank Deploys 200 Software Robots to Automate 10 Lakh Banking Operations a Day!
For the first time in India, a bank is using software robotics to automate their banking transactions; and the scale of the operations is so massive, that other banks are bound to take notice and replicate it for better efficiency.…
Automation in Banking: HDFC Deploying A Robot For Automating Banking Services!
After making a dent in IT industry, food sector & manufacturing, automation and robotics have now ventured into the banking industry; and there can some serious side-effects to this disruption.
HDFC Bank is all set to deploy a…
Aadhaar & Fingerprint Based ATM Launched by DCB Bank; No Need for Card or PIN!
Very soon you might not need to carry your Debit card or remember your PIN to withdraw cash from an ATM Machine. DCB Bank has launched Bangalore’s first Aadhaar & Fingerprint (Biometric) based ATM machine in Bangalore. Anyone can…
HDFC Brings Contactless Payments With UltraCash Sound Wave Based Payments!
Sound wave technology for payments is slowly gaining traction and we have already seen Paytm, ToneTag and Tech Mahindra’s MoboMoney adopting it. This technology is extremely useful for phones that do not support near field…
MobiKwik Cancels 6% Wallet Interest Scheme As RBI Stops Them From Turning Into A Digital Bank
The introduction of mobile wallets in India is changing several things at the same time; and such is the magnitude of their expanse, that banks are now threatened by their growth. In order to counter their reach and popularity, banks…
India Post Will Transform Into World’s Largest Banking Network With 5000 ATMs!
Yesterday, we had reported about Paytm’s ambitious plans to launch their Payment Bank as they are planning to open 20 crore new bank accounts within a year. They have already allocated a budget of Rs 400 crore to promote their banking…
Paytm Payments Banks Will Launch By November; Targets 20 Crore Accounts In a Year
It seems Paytm will actually race ahead all others to become India’s first Payments Bank. Founder Vijay Shekhar Sharma has categorically stated that their Payments Bank would be launched before November.
As per unconfirmed reports,…
Jan Dhan Enables 22 Cr New Bank Accounts in 18 Months; Adds Rs 37,617 Cr to Indian Economy
As PM Modi led BJP Govt. completes two years today, one of the financial inclusion schemes initiated 18 months ago by this Govt. has received raving appreciation all over.
Pradhan Mantri Jan Dhan Yojana, launched in August, 2014 with…
Tech Mahindra Too Drops Out of Payments Bank Race; 3rd Entity to do so!
When RBI approved payments bank licenses for 11 entities last August, it was widely hailed as the arrival of new and agile era of banking. However, since then, the euphoria seems to have given way to pessimism – so much so, that 3…
Paytm Partners With Wipro For Development of Their Core Banking Solution
Paytm, India’s leading mobile commerce company and one of entities to get payments Bank license, today announced it’s partnership with IT services major Wipro. The company has been assigned to develop core banking solution for their…
DBS Launches DigiBank, A Mobile-Only Bank
Development Bank of Singapore entered Indian market not very long bank and is currently operating around 12 branches in tier-1 cities. DBS bank issued a target of expanding to 50 branches by 2018, but the efforts were put to halt once…
Airtel Money-Kotak Mahindra Bank JV Gets First Payments Bank License from RBI; Cholamandalam Quits
The race for launching India’s first payments bank has been won by a joint venture between Airtel and Kotak Mahindra Bank. Reserve Bank of India (RBI) allocated the license to Bharti Airtel-Kotak JV yesterday; and this means that Paytm…
State Bank of India Opens its First Digital Bank in North-East Region
State Bank of India(SBI) had launched digital branches across India in six cities which offer innovative technology and banking services to people of India. These branches are more interactive, easier to navigate through and the…
SBI – Transforming into the Poster Boy of the Digital India Initiative
As a Marketing professional, I must say it was quite surprising to see this front page Ad on today’s newspaper.
It is rather startling to see State Bank of India taking strides in navigating to the digital world in a rather subtle…
HDFC Bank Launches SmartUp – A Banking Solution Specifically For Startups
In an effort to contribute towards the ‘Start-up India’ campaign and for nurturing the start-up ecosystem in the country, HDFC Bank, the best private bank in Asia, has launched a first-of-its-kind dedicated banking solution for…
ICICI Bank Launches Contactless NFC-based Mobile Payment System
India’s leading private sector bank- ICICI Bank, has now launched a new NFC-based mobile payment system enabling contactless transactions via its Pockets app.
Last year, ICICI Bank had launched ‘Tap n Pay’ payment system in…
Consumer Forum Says HDFC Bank Has No Love & Respect For India; Penalizes Rs 5 Lakh
In one of the landmark decisions, National Consumer Disputes Redressal Commission (NCDRC) has severely criticized HDFC Bank to refusing to assist an Indian couple who were ‘trapped in Thailand and Singapore’. In fact, the forum declared…
Bank Officials Steal Money From SBI, Axis Bank Apps; Identity Theft Sets New Milestone
The newest fad among all banks is mobile apps. Every bank is encouraging and promoting usage of their mobile apps for obvious reasons: More intrusion in their customer’s digital life, and push notifications to sell their products.…