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RBI Brings New 500 & 1000 Rupee Bank Notes with Braille Features!
Next time you come across a ‘different looking’ 500-rupee note, don’t think you have been conned. The visually impaired have been struggling with notes of various denominations, as there is no other means for them to count money besides…
POS Withdrawal Limits Increased To Rs.2000 For Some Areas: RBI
In a surprising move, the Reserve Bank of India has increased the cash limits at point of sale (POS) units in tier III, tier IV, tier V and tier VI cities to Rs.2000 from erstwhile limit Rs.1000.
RBI said that this facility will be…
RBI Approves Payment Bank Licenses To Airtel, RIL, Vijay Shekhar Sharma, Vodafone, India Post and 6…
The Reserve Bank of India has given in-principle nod to eleven entities – the first lot since it came out with guidelines for the same last year. Here are the 11 entities that have been granted payment bank licenses.
Aditya Birla…
With 190M Debit Cards in use, RuPay Stands Neck to Neck With Behemoths MasterCard and Visa
RuPay, the foster child of Jan Dhan Yojana that was inaugurated by President Pranab Mukherjee had Modi government’s attention right since its inception, taking India in the league of those countries that have their own payment gateways.…
ICICI Bank Smart Vault, India’s First Robotic Locker Combines ‘Make in India’ & ‘Digital India’…
ICICI Bank has launched India’s first locker facility powered by robotic technology. Christened as ‘Smart Vault’, this new service was formally inaugurated by Chanda Kochhar, Managing Director and CEO of ICICI Bank at their Defense…
SBI Launches New Mobile Wallet, State Bank Buddy
Mobile Wallets are everywhere – Every large financial Institution & Telecom Operators are foraying into this fast growing space. Now, India’s largest state owned bank State Bank of India is launching it’s own mobile wallet called…
Whoa! Now Open A Bank Account in Minutes Through Just a Mobile App!
Technology has made the world an easier place. From having cut down queues at various organisations, to bringing your fund transfers at your fingertips, it just doesn’t seem to stop. With a new app to open a bank account, the busy lives…
RBI to Raise Spending Limits on E-Wallets: Reports
On the demand of Indian mobile wallet companies, the Reserve Bank of India has said that it is planning to raise the spending limit on e-wallets. Considering the accelerated growth in mobile payments in the country, RBI will raise the…
Citibank India and MasterCard Announce Global Digital Wallet for Indians Using Credit or Debit cards
Considering the size of the Indian mobile market, it is accelerating in the growth of online banking, and thus also digital payments. To cash in on this growth, Mastercard and Citibank India have come together to offer Indians a digital…
HDFC Bank’s Handheld Micro ATMs With Biometric Verification Can Change Rural Banking In India For…
In remote villages and deep hinterland of India, installing and maintaining an ATM machine is a huge challenge. But banking needs to be spread and rural population are demanding easier methods of withdrawing and depositing cash.
HDFC…
ICICI Bank’s All New iMobile App Now Offers Over Hundred Services
India is evidently leading the world in mobile phone growth, and this is being seen as a boon by the banking sector. The convenience of usage of this revolutionary form of banking has triggered shift in the user behavior. The mobile…
Soon, MasterCard Payment Authentication To Be Done By Your Selfies!
Rising concern for banks today is not about attracting customers; it’s all about retaining them. A recent study confirmed that most of the bank apps (we are talking about 70%) are prone to virus attacks and phishing. Security issues are…
Pay By Credit or Debit Card & Get Tax Benefits – Govt’s New Plan To Curb Black…
Indian Govt. is right now facing three severe financial problems which need immediate cure: Encouraging/enforcing more tax payers; Black money flow and circulation of fake/spoiled currencies all over the nation.
In a proposal which…
HDFC Online Banking Now offers Instant Paperless Personal Loans In Just 10 Secs
In an effort to bolster is GoDigital initiative, India’s second largest private sector bank, HDFC Bank has launched instant 10-second paperless loans for its existing customers.
“HDFC Bank will now disburse personal loans to its…
HDFC Bank Launches PayZapp, An All-In-One Payment & Money Transfer Mobile App
India’s leading private Bank, HDFC Bank today announced launch of PayZapp, an all-in-one mobile payment and money transfer app that promises to make any sort of payments in a single click.
The PayZapp app users can make variety of…
[Updated] Scribbled, Soiled Currency Notes Now Have Zero Value!
This news has been around since last 2 years (read below), however, banks have started implementing it across India with effect from 1st June, 2015. According to notice put up in State Bank of India, they will not accept any notes that…
RBI Simplifies KYC Regulations For Banks; Utility Bills, Pension Receipt Now A Valid Address Proof
As per a 2013 survey, it was found that less than 50% of Indians have a bank account; although PM Modi’s Jan Dhan Yojana has resulted in inclusion of more than 2 crore rural Indians into the banking system, there is still a lot to be…
Banks Are Data Mining & Keeping Track Of Your Spending Habits
When Thomas Jefferson, one of the founding fathers of America, quoted, “I sincerely believe that banking establishments are more dangerous than standing armies”, all I could think was: why would anyone say that? Chances are he never…
MobiKwik, ICICI Bank Partner To Let Users Load Their Mobile Wallet Via Bank Cash Deposits
While mobile wallet usage has grown over last year, many shoppers still don’t use them for making transactions over the internet. People have different reasons for it, but for me the hassle of loading up my mobile wallet is the biggest…
For The First Time, Cashless Transactions Surpass Paper Based Transactions in India
Virtual and cashless payments are growing at breakneck speed right now in India. According to the figures released by RBI for FY 2015, more transactions were done through use of ATM, Debit Cards, Credit cards, Internet Banking and online…