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Yay! RBI Allows Rs.2000 Limit For Contactless Payments, No PIN Required Too!
Ending all ambiguity surrounding contact less payment mechanism in India, Reserve Bank of India (RBI) has issued final circular on the guidelines for this new mode of payment. As we had reported earlier, there would be no Additional…
All New Debit/Credit Cards Must Be EMV & Pin Based From Sept 1, 2015 – RBI
Reserve Bank of India (RBI) has issued fresh notification, which mandates and instructs all banks to issue only EMV and Pin based debit and credit cards for their customers. The deadline for the implementation of this directive is…
ICICI Bank Launches ‘Tap n Pay’ NFC Based Contactless Payments
ICICI Bank today announced launch of new innovative NFC (Near Field Communication) based contactless payment system in partnership with Tech Mahindra. Called “Tap n Pay”, it allows users to make over-the-counter payments without using…
Indian Migrants Top Global Remittances Chart Yet Again, Send $70B Back Home In 2014
World Bank has shared their latest report on global remittances, and yet again Indians have topped the charts. NRIs sent $70.4 billion to India in 2014, which is 12% of global remittances which stood at $583 billion.
As per the…
70% Of The Mobile Banking Android Apps Are Vulnerable: Appvigil
Leaking private sensitive celebrity content sure drives the hackers, but not as much as hacking banking websites and now banking apps on android too!
Appvigil, a flagship of Wegilant, in their report have found that 70% of the Top…
Rs 11,022 Crore of Frauds Discovered In Public Sector Banks Between Apr-Dec 2014
Between April to December, 2014, public sector banks in India incurred losses to the tune of Rs 11,022 crore due to 2100 cases of fraud. These numbers were revealed in a report shared by Reserve Bank of India last week. In all the 26 PSU…
Rupee 1 Currency Note To Be Reintroduced After 20 Years
Reserve Bank of India has decided to reintroduce Rupee One currency note after a gap of 20 years. The last Re 1 currency note was printed in 1994, but after that, they were replaced by coins and owning to higher costs of maintenance and…
RBS Shuts Down Indian Banking Operations; 1000 Employees Face Axe
288 years old Royal Bank of Scotland, which is UK’s largest state-owned bank having operations across 38 countries, employing 141,000 employees has finally decided to shut down Indian banking operations due to consistent losses and…
Amazon Backed Remitly Enters India To Tap $11B USA To India Remittance Market
Jeff Bezos backed Remitly has started offering remittance services from USA to India, and has ignited the $11 billion market with aggressive pricing and forex rates. Founded in 2012, Remitly started its operations with the Philippines…
HDFC Bank Offers Instant Multi-Bank Money Transfer Through Chillr App
HDFC Bank has officially launched a mobile based money transfer platform enabled by a third party app: Chillr, using which their customers can send money to any of their phonebook contacts instantly.
The best part about using this…
All Telco Majors Eyeing Indian Banking Sector: Ambanis, Mittals & Birlas Apply For Payment Bank…
A number of big business houses in India are looking forward to spreading their wings and branch out in the payment banking sector. After Bharti Airtel became the first one to announce its plans to do on Thursday, Aditya Birla Nuvo Ltd,…
ICICI Launches Twitter Banking Services. Allows Funds Transfer & More Through Twitter!
ICICI Bank, India’s largest private sector bank, today announced the launch of banking services on Twitter. Christened, ‘icicibankpay’, the first-of-its kind service in India enables ICICI Bank customers to transfer money to anyone in the…
HDFC Bank Enters Digital Wallet Arena. Wants To Dominate Digital Payments Market!
HDFC Bank has introduced their own digital wallet in India, which they have termed as “The future of mobile payments”. To make it easier for merchants to accept payments via digital wallet, HDFC has enabled Near Field Communication (NFC)…
How to detect Fake Currency In India
RBI had launched a much needed website called Paisa Bolta Hai - that explains how consumers can detect a fake currency in circulation. According to RBI, total of 4,35,607 fake currencies we detected in 2010-11, mostly in form of Rs. 500 and…
ICICI Bank Brings PayWave NFC Cards For Contactless Payments
ICICI Bank, India’s largest private sector bank launched NFC enabled credit and debit cards that facilitates speedy contactless payments. ICICI is the first bank in the country to do so.
With these NFC enabled cards, consumers can…
India Post To Issue ATM Cards & Statements For Saving Account Holders
India Posts can now issue ATM Debit Cards to its saving account holders, and allow them to have bank statements from ATM machines, just like any bank holder in a private or national bank does. This has been termed as a huge step towards…
1 Billion Plastic Currency Notes Of Rs. 10 Face Value To Be Introduced In 5 Indian Cities
In a written reply given by Minister of State for Finance, Shri Jayant Sinha in Lok Sabha, it was revealed that the Government is all set to introduce one billion plastic notes of Rs 10 denomination on a trial basis in 5 Indian cities:…
Late Payment of Phone Bills Can Prove Very Costly As CIBIL Expanding Profiling Base
If you are planning to apply for a loan in coming days, then your history of paying utility bills including your phone bills can become of the deciding factors. In case you have been late in making those payments, then CIBIL can deny you…
Now, Mobile banking Will Be Possible Over Basic Handsets Without Internet
In a news that will bring smiles to millions of basic handset users across the country, they will now be able to carry out most banking transactions (like PIN change, funds transfer, payment of low value bills, getting new cheque book, bank…
ICICI Bank To launch NFC Based Contactless Payment Cards
ICICI Bank is all set to introduce a brand new way to make payments: Contact less debit and credit cards. Using Near Field Communication (NFC) mechanism, contact less cards can save upto 90% of the overall time required to make a payment,…