BANKING CUSTOMERS
What happens when your bank isn't really a bank and your money disappears? The long-standing promise of bank insurance faces a crisis as online-only lenders with millions in deposits face turmoil, freezing customer accounts and leaving many in the dark about their money's fate. The complex web of blame, bankruptcy, and mis...
10 Jul, 2024, 02.11 PM ISTBoB loan book grows 8% in Q1; IndusInd's net advances up 16% The bank's CASA ratio fell to 36.7% at the end of June 2024 from 39.9% a year ago, disclosures made by the bank showed. Retail deposits and deposits from small business customers amounted to ₹1.74 lakh crore as of June 2024, up from ₹1.69 lakh crore...
06 Jul, 2024, 01.00 AM ISTNew credit card rules: HDFC Bank, Axis Bank, other banks customers cannot make credit card bill payments using PhonePe, Paytm Credit card bill payment rules: As of July 1, customers with credit cards from major banks like HDFC Bank and Axis Bank will no longer be able to settle their credit card bills using third-party applications such as PhonePe, Amazon Pay, and Paytm.
04 Jul, 2024, 03.57 PM IST- ADVERTISEMENT
RBI tells banks to find ways to bridge the gap between credit and deposit growth The meeting addressed various banking challenges including credit-deposit ratio, cybersecurity, and digital frauds. Governor Das emphasized the need for robust cybersecurity controls and customer awareness initiatives to curb digital frauds.
03 Jul, 2024, 08.43 PM ISTRBI Governor urges banks to step up efforts against ‘mule accounts’ & intensify customer awareness initiatives RBI Governor Das emphasized the importance of managing third-party risks, enhancing compliance culture, and strengthening resilience in banks during a recent meeting with banking executives.
03 Jul, 2024, 07.08 PM ISTCitibank credit cards migration to Axis Bank to be completed on July 15; credit cards migrated, new benefits, 9 important FAQs Citibank credit cards migration to Axis Bank: According to the Axis Bank website, here is a look at the Citibank credit cards that will be migrated, the new terms and conditions, fees and charges, rewards, and other important migration details.
20 Jun, 2024, 11.28 AM ISTAllahabad Bank to pay customer Rs 46,000 lost in unauthorised debits from account; RBI rules on customer liability for unauthorised transactions How to report unauthorized transaction in savings account: As per the guidelines set by the Reserve Bank of India (RBI), customers will bear limited responsibility in case unauthorized electronic transactions result in deductions from their accounts...
18 Jun, 2024, 12.38 PM ISTRBI imposes Rs 1.45 cr penalty on Central Bank of India The Reserve Bank on Friday said it has imposed a penalty of Rs 1.45 crore on the Central Bank of India for non-compliance with certain directions related to 'loans and advances' and 'customer protection'. The RBI had conducted a statutory inspection...
14 Jun, 2024, 07.12 PM ISTUnauthorised transaction due to third party breach: Bank customer has zero liability, says HC The Bombay High Court ruled that customers have zero liability for unauthorized transactions caused by third-party breaches, directing Bank of Baroda to refund Rs 76 lakh to Pharma Search Ayurveda Private Limited. The court cited a 2017 RBI circular...
13 Jun, 2024, 09.58 PM ISTFino Payments Bank eyes tripling digital banking revenue share by FY25 Fino Payments Bank sees an opportunity in the digital banking space after Paytm Payments Bank's exit. To capitalise on this, they're ramping up their digital offerings, aiming to grow their digital revenue share from 5-6% in FY24 to 15% this fiscal ...
10 Jun, 2024, 10.32 AM ISTRe-KYC update of bank account: How to update KYC of bank account online in HDFC Bank, SBI, Canara Bank, ICICI Bank How to update KYC details: Re-KYC is a procedure that allows banks and other financial organisations to stay up to date on a customer's most recent contact data and personal details. Here is how you can update your KYC details online for these top b...
06 Jun, 2024, 11.24 AM ISTIBA chief explains what bank frauds really are, stresses on critical 'golden hour' As per the RBI's recent annual report, fraud cases surged to 36,075 in FY24, marking a significant rise from 13,564 reported in the previous fiscal year. The report highlighted that a majority of these frauds, in terms of volume, were related to dig...
03 Jun, 2024, 01.56 PM ISTNow, a 'Bank Clinic' to guide you on complaints The Bank Clinic is an initiative by the All India Bank Employees' Association (AIBEA) to help customers address their grievances amid rapid expansion in technology and a series of Reserve Bank of India (RBI) guidelines on retail banking. A customer ...
03 Jun, 2024, 12.14 AM ISTOnline banking, a lengthier long-distance relationship The banks (and other companies) were getting you to do their jobs for them and charging you for this, in both time and money. There was no discussion around this, no negotiation, nothing. This was the first of many digital fait accomplis of which yo...
01 Jun, 2024, 11.21 PM ISTRs 91 lakh penalty on YES Bank for wrongly levying non-maintenance of minimum balance charges: Is your bank charging the same? Minimum balance negative in savings bank account: RBI has imposed a penalty of Rs 91 lakh on YES Bank for not complying with the master directions on customer service in banks. One of the reason was levying charges on savings bank account having ins...
28 May, 2024, 05.48 PM ISTTrouble with bank and can't find resolution? File a complaint against bank with RBI Ombudsman; who are eligible, when, where to file RBI Ombudsman: Facing any issue with your bank? First try to solve it by filing a complaint, etc. If it is still not solved you may approach the Reserve Bank of India (RBI) and file a complaint under the 'Banking Ombudsman Scheme'. Read here to know...
28 May, 2024, 11.59 AM ISTRBI imposes penalty on Yes Bank and ICICI Bank The penalty is imposed on Yes Bank because it levied charges on customers for non-maintenance minimum balance in certain savings accounts with insufficient or zero balance, which is in violation of RBI's guidelines, while ICICI Bank sanctioned term ...
27 May, 2024, 07.26 PM ISTHDFC Bank net banking, mobile banking, UPI will be down during this time HDFC Bank has informed its customers that net banking, mobile banking will not be working on May 25 for a certain period of time. HDFC Bank customers were informed about scheduled maintenance work being done due to which below services would have be...
24 May, 2024, 11.10 AM ISTDebit card decline charge: SBI, ICICI Bank, HDFC Bank, Kotak Mahindra Bank, PNB, BoI23 May, 2024, 12.13 PM IST YES Bank launches YES Grandeur for elite customers YES Bank introduces YES Grandeur program for emerging affluent customers with AMB of Rs 5 lakh or NRV of Rs 20 lakh. The program offers personalized banking, travel, and lifestyle privileges, including benefits at Taj, ITC Hotels, Disney+ Hotstar, a...
18 May, 2024, 11.58 AM IST