Banking (India)

Mumbai, Delhi, Chennai, Bangalore can save $7.2 bn annually by going digital, says TR Ramachandran of Visa

It is no secret that cash is expensive and inefficient to manage. The high cost of cash stems from significant cost of time, effort and resources, …

India

Stuck in a shopping mall without cash? SBI's YONO app is here to save you: all you need to know

State Bank of India will be launching a comprehensive lifestyle and financial services platform called YONO (you need only one) for its customers. If …

Arun Jaitley

No proposal to withdraw cheque book facility, clarifies finance ministry

The finance ministry on Thursday said there is no proposal to withdraw the bank cheque book facility, which is an integral part of the payments …

Banking

Hike, Airtel Payments Bank tie-up for mobile wallet

Messaging app Hike today said it has tied up with Airtel Payments Bank to power its mobile wallet product.<p>Hike users will have access to the banks …

Banking

Paytm boss Vijay Shekhar alerts users against fake messages claiming to give cashback upto Rs 1 lakh

Alibaba backed Paytm on Tuesday alerted its millions of customers regarding a circulation of a fake message claiming to get e-wallet users cashback …

India

A cheque-less India? Possible; it may not be a big deal for common man but traders will suffer

In order to quicken the digitisation of the economy, the Narendra Modi government may do away with cheque books, according to various media reports. …

India

Standard Chartered close to selling real estate principal finance unit to Actis: report

Standard Chartered’s private equity unit has investments worth about $3.5 billion, of which $1.2 billion is from the bank’s own book. Photo:</b> …

Business (India)

Cheque books to be banned? To push for digital economy Modi govt likely to go for it

After one year of controversial demonetisation decision which sought to digitise economy, the Narendra Modi government is likely to ban cheque books …

India

Billionaire Kotak Says Indian Banks Need to Cut Costs: Q&A

India’s banks need to cut costs and improve efficiency to keep pace with the country’s rapidly expanding financial markets, according to Uday Kotak, …

Creamy

Not linked Aadhaar with your SIM, bank accounts, financial savings? Deadlines are nearing; here's how to do it

English author, Douglas Adams, once said, “I love deadlines. I love the whooshing noise they make as they go by.” If you are someone like Adams, you …

Banking

Link Aadhaar with mobile online from Dec 1

The Centre has simplified the linking of Aadhaar with mobile number and the new system will come into force from December 1.The Unique Identification …

Mobile

Fintech involves another’s money, it has to be secure: PayPal CEO

As President and CEO of digital payments firm PayPal, Dan Schulman is focussed on transforming financial services to make life easier for billions of …

FinTech

How to link your SBI account with Aadhaar before December 31 and why

If you are an SBI account holder then you need to link your bank account with your Aadhaar number in order to save it from getting suspended. The …

Banking

No more foreign currency fees – Revolut Review

One of the biggest issues while traveling internationally is that you end up paying around 3-5% extra for every transaction due to currency exchange …

Banking

Card Transactions Soar: 84 Per Cent More In September 2017 Than September 2016

Debit and credit card transactions have jumped to Rs 74,090 crore in September this year, up a hefty 84 per cent as compared to the same month last …

Banking

IRP approval must for recovering money from defaulter’s bank account: NCLAT

The NCLAT was hearing the plea of Indian Overseas Bank, which is one of the financial creditors of debt-ridden auto component maker Amtek Auto. …

Banking

Banks allowed to hire machines, staffers for Aadhaar enrolment

The UIDAI has provided some "relaxation" to banks in the procurement of enrolment machines and hiring private data entry operators for their Aadhaar …

Business (India)

Separatist Mirwaiz Wants Islamic Banking In Kashmir, Says RBI’s Refusal Based On ‘Religious Agenda’

Separatist leader and ‘moderate’ Hurriyat Conference chairman Mirwaiz Umar Farooq on Friday expressed regret over the Reserve Bank of India’s (RBI) …

Banking

YES Bank plans to cut process time by 30% through automation

The countrys fifth largest private sector bank, YES Bank, is working on automating several process and service touchpoints through bots.The bank is …

Banking

Narrow banking is an idea whose time has come

The time has come to consider converting the worst performers among state-owned banks to narrow banks, which won’t lend at all. Photo: Bloomberg<p>The …

Banking

Juinagar bank heist: police in pursuit of new locker holders

Police officers investigating the burglary at the Juinagar branch of Bank of Baroda are scrutinising bank records to check for account holders who …

Banking

RBL Bank opens all women branch in Chennai

Private sector RBL Bank has set up an all women branch here today. The branch at R A Puram would be managed by eight women and offer all products and …

Banking

I-T issues draft norms allowing foreign banks to convert local branches into wholly owned units

The RBI scheme, announced in November 2013, gives near national treatment to wholly owned subsidiaries of foreign banks for opening branches. Photo: …

Business (India)

India sets up panel to foster state bank consolidation

MUMBAI/NEW DELHI -- The Indian government is determined to deliver the banking system from its bad loan mess through recapitalization -- while …

Banking

Digital Cess –The Right Move at the Wrong Time

Official statistics indicate an 80% increase in the value of digital transactions in 2017-18, with the total amount expected to touch INR 1,800 crore, according to the ministry of information technology<p>You're reading Entrepreneur India, an international franchise of Entrepreneur Media.<p>Last year, …

Banking

LPG subsidy not credited to accounts of Airtel Payments Bank consumers, says Oil Ministry

Consumers who availed of LPG subsidy and had Airtel Payments Bank accounts were not getting their share of subsidy amounts, according to the Ministry …

Business (India)

Apple to Aid India With Anti-Spam App for iOS After Regulatory Tussle - Report

Apple Inc. (AAPL) has agreed to lend a helping hand in India after receiving public criticism for failing to initially do so.<p>The company will aid the …

Tech Industry

Navi Mumbai bank robbery: Customers blame bank for poor security, say they will move court

Distraught after losing their savings and gold jewellery in a heist at Sanpada branch of Bank of Baroda, victims plan to move court against the …

India

Wells Fargo repays $5.4 million for repossessing service members' cars | Reuters

(Reuters) - Wells Fargo & Co (WFC.N) has repaid another $5.4 million to about 450 military service members whose vehicles it repossessed illegally, …

Wells Fargo

Bank of Baroda Juinagar branch heist: here’s why you should not have a bank locker in first place

Robbers dug a 25-feet tunnel to sneak into the Bank of Baroda's Juinagar branch and reportedly escaped with Rs 1 crore in cash and valuables from at …

Banking