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Banks Receive Whopping Rs 53,000 Crore After #CurrencyBan; PIL Files in SC Against The Govt!
Indian banks are right now overflowing with deposited cash from customers, after the demonetization drive initiated by the Govt. As per confirmed reports released by State Bank of India, approximate Rs 53,000 crore has been received by…
200% Penalty For Deposits Over Rs 2.5 Lakh, If Mismatch Found; Ecommerce Shuts Down Cash on Delivery…
As banks reopened today after a gap of one day, people thronged their branches to replace their old currency notes with new ones. Long queues were witnessed outside every bank, as people starved of cash are depositing cash into their…
Rs. 500, Rs. 1000 Currency Note Ban: 20 Most Important Questions Answered by RBI!
Narendra Modi, in one single 10 minute announcement, has ensured that all corrupt and anti-social elements in India using black money to further their cause, get a heart attack – because all the money they are holding illegally is now…
Rs 2000 Currency Note With Nano GPS Chip – Hoax or Not?
This was supposed to be one of the biggest news for banking sector, financial institutions and the common man - because it involved India’s largest currency denomination, Rs 2000.
Way back in 1938, and then again in 1954, then…
RBI Justifies Cap On ATM Withdrawals From Own Bank; Claims It Will Promote ‘Cashless Economy’
Most of the banking systems in developed and developing countries do not place any cap on ATM withdrawals - customers can withdraw money from ATMs as many times as they wish. But in India, banking rules are different.
Even if you are…
RBI Warns Common Man of Rs 500, 1000 Counterfeit Currency Notes; 5 Ways To Examine Them!
On the eve of Diwali, which is considered as the peak season for shopping by Indians, RBI has cautioned to examine Rs 500 and Rs 1000 currency notes before accepting them in a transaction. This advisory by RBI is deemed as crucial, as…
HDFC, ICICI Bank, Axis Bank, SBI & Yes Bank Worst Hit With Malware Attacks; 32 Lakh Cards…
The dots are slowly connecting, and what is emerging right now can be termed as India’s biggest breach of financial data ever. 32 lakh debit cards from HDFC, ICICI Bank, Axis Bank, SBI and Yes Bank have been compromised.
Most…
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…
Black Money Disclosure Scheme Is Big Hit: Rs 65,000 Cr Black Money Disclosed; Hyderabad Top The…
Income Tax Department’s scheme to furnish black money details is a massive hit, as Rs 65,250 crore of black money was declared by 64,275 individuals, thereby making it an average of Rs 1 crore, per individual.
Ministry of Finance…
Razorpay Launches UPI on its Payment Gateway; Now Available to 10,000+ Merchants
Since official launch of UPI (Unified Payment Interface) in August this year, over 20 major banks in the country have already launched their own UPI based apps or are in process of doing so. The reason for such fast adoption is the ease…
Digital Payments Witnesses Record Growth Worldwide, May Potentially Cheques & Cash: Capgemini
Capgemini, a global leader in consulting, technology and outsourcing, in association with it’s banking partner BNP Paribas published it’s 12th edition of “WORLD PAYMENTS REPORT”. The report brings out some very interesting findings…
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…
Paypal Slashes Forex Fees by 40% For Indian Users; Launches Paypal.me For Faster P2P Payments
Paypal is focussing on Indian operations with renewed zeal and commitment; and the first step has already been taken. Especially for Indian merchants and traders who use Paypal for receiving their payments in international currencies, the…
India Ranked 7th Wealthiest Nation of The World; Beats Australia, Canada In Wealth Creation
Wealth creation by Indians is refusing to slowdown. As per latest figures till June, 2016, Indians successfully created more wealth than developed countries like Australia, Canada and Italy.
As per latest ranking released by New…
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…