MOBILE BANKING
ICICI Bank launches ‘SmartLock’: How to use this new safety feature on iMobile Pay
ICICI Bank has announced the launch of "SmartLock," a new safety feature that allows users to quickly lock and unlock a variety of financial services on iMobile Pay, without contacting customer support via phone or email, according to the bank press release.
Kotak Mahindra Bank to add up to 200 branches in FY25
Kotak Mahindra Bank plans to open 175-200 new branches in FY 2024-25, following a ban by the RBI on acquiring new digital customers due to IT deficiencies. This expansion aims to boost customer acquisition through physical branches while the bank strengthens its IT systems to comply with regulatory standards.
10 Best Selling Mobile Phones of June 2024: Explore brands like OnePlus, Redmi, Samsung and more
If you are struggling to make up your mind about which smartphone to buy, then you are at the right place. Make sure to check out Amazon’s curated list of of this month’s best-selling mobile phones that come with massive batteries, advanced processors and a high-quality camera among other features.
Banks's CD ratio dips 50 bps since March
The Credit to Deposit (CD) ratio of commercial banks fell by 50 basis points since March, signaling a potential slowdown in credit growth due to slower deposit growth. As the RBI maintains current rates, deposit rates are unlikely to rise, possibly pressuring loan growth despite expected capex spending boosts. The CD ratio, considering the HDFC merger, dropped from 80.27% in late March to 79.79% by May 17.
HDFC Bank scheduled downtime alert: 7 net banking and mobile banking services will not be available on June 9, 16
HDFC Bank scheduled Maintenance: HDFC Bank has informed its customers via SMS that select services will be unavailable during an upgrade window on June 9 and 16.
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HDFC Bank's netbanking services will not be available for several hours on 9th and 16th June. Check details
HDFC Bank announces scheduled maintenance for online services on June 9 and 16, affecting netbanking, mobile app services, and transactions including UPI payments.
Risk weighting slows unsecured loan growth
The growth of unsecured credit in India, including personal loans and credit card outstanding, slowed to 18% in April from 23% in November 2023. The Reserve Bank of India's risk weighting on such exposures aims to reduce delinquencies in the banking system.
Now, 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 can fill out the details of her/his complaint, create a ticket, and receive a reply in five working days on the remedies available and information on what the RBI guidelines prescribe on that matter.
G20 Sherpa Amitabh Kant lauds India's digital transformation journey in 9 years
India has made significant strides in digital transformation over the past nine years, with a 96% reduction in data costs and a 1.4 billion people now having a unique digital identity (Aadhar). This has led to greater access and usage of digital services across the country. India's Unified Payments Interface (UPI) has seen exponential growth, contributing 46% of the global share in real-time digital payments.
SBI to sell guarantees of Reliance Naval promoter
The bank, in a notice on its website, said that it has principal outstanding dues of Rs 1,160 crore and total dues of Rs 3,512 crore, as of May 31, 2024. The bank stated that it is seeking to assign the residual debt along with the guarantee. Nikhil Gandhi and his brother Bhavesh Gandhi have provided personal guarantees while SKIL Infrastructure provided corporate guarantees on the loan.
RBI Retail Direct mobile app launched
Reserve Bank of India has launched three major initiatives: the PRAVAAH portal, the Retail Direct Mobile App, and a FinTech Repository. These three initiatives were announced in April 2023, April 2024, and December 2023 as part of RBI’s bi-monthly Statement on Development and Regulatory Policies.
Not engaged in any discussions: Paytm issues clarification on report claiming Adani in talks to acquire stake in company
One97 Communications responds to speculation of Adani Group chairman Gautam Adani considering acquiring a stake in Paytm's parent company. The company clarifies that no discussions are ongoing, emphasizing compliance with SEBI regulations.
RBI Guv Shaktikanta Das launches PRAVAAH, Retail Direct mobile app and FinTech Repository
The Reserve Bank of India (RBI) has launched three major initiatives to enhance regulatory processes, facilitate retail investment, and provide comprehensive data on the fintech sector. The PRAVAAH portal is a secure web-based platform for individuals and entities seeking authorizations, licenses, or approvals from the RBI. The RBI Retail Direct mobile application simplifies transactions for retail investors, and the FinTech Repository provides data on Indian fintech firms for better regulatory understanding and policy formulation.
A new weapon against online payment frauds: Timely alerts on transactions via UPI, debit card, credit card, Net and mobile banking
Fraud transactions: Banks like Standard Chartered Bank, HDFC Bank, ICICI Bank, and others have implemented a fraud protection measure wherein the bank will call you for transaction confirmation if it feels that these transactions are fraudulent. However if you give the confirmation, the transaction will go through. Know here how it works.
June bank holidays: Banks are closed for 10 days in June 2024; check dates, full state-wise list
Holidays include state-wise regional holidays along with second and fourth Saturdays in the month and all Sundays. Note that this month has five Sundays.
HDFC 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 been impacted
Airtel Payments Bank's annual net profit rises 60% to Rs 35 crore
Airtel Payments Bank records 60% surge in annual net profit to Rs 35 crore, with revenue up 42% to Rs 1,836 crore. Monthly transacting users reach 80.4 million.
Aadhaar services you can avail with and without a registered mobile number
There are some Aadhaar services which can be availed without a registered mobile number and some services need the registered mobile number. Aadhaar holders can also verify their registered email and mobile number.
Bank curbs hit ONGC's plans to gain 20% stake in Russia oilfield
ONGC, hindered by banking restrictions, faces challenges in paying its share to the abandonment fund for Russia's Sakhalin-1 field, obstructing its efforts to regain a 20% stake in the oilfield. Banking constraints prevent the repatriation of dividends from another Russian field, Vankor, leaving funds inaccessible outside Russia. ONGC Videsh, ONGC's subsidiary, aims to transfer the abandonment fund, necessary for project closure and environmental safety, but discussions with Russian authorities seek alternatives amid banking limitations.
Saturday bank holiday: Are banks closed today?
Saturday bank holiday: The first, third, and fifth Saturdays of the month are bank working days. So, bank customers must make sure that the bank is working on that particular Saturday before visiting the branch.
RBI lifts restrictions on Bank of Baroda's 'BoB World' mobile app, allows onboarding customers
The Reserve Bank of India (RBI) has lifted restrictions on Bank of Baroda's BoB World app, allowing the bank to onboard customers through the application immediately.
Indian Bank aims to make over Rs 1 lakh crore digital transactions: MD & CEO Shanti Lal Jain
Indian Bank on Monday reported a 55 per cent jump in its net profit to Rs 2,247 crore for the January-March 2024 quarter as compared to a net profit of Rs 1,447 crore made last year.
ICICI Bank introduces UPI for NRIs through international mobile numbers
ICICI Bank has launched UPI for NRIs in ten countries, enabling global mobile number use without switching to Indian numbers. iMobile Pay facilitates utility, merchant transactions, and QR code payments, enhancing convenience and promoting UPI adoption across borders.
These NRIs can use international mobile numbers to make UPI payments in India: Step-by-step guide on how to do it
These NRI customers can pay using UPI in India using foreign mobile number. Earlier, in order to create a UPI ID and use any UPI app, an NRI required a working Indian mobile number. This will reduce non-resident Indians (NRIs) the cost of keeping an active Indian mobile number.
Kotak crackdown: The 'Regulatory Bank of India' is taking no chances
Kotak Mahindra Bank: The Reserve Bank of India (RBI) is cracking down on regulatory compliance in the banking industry, issuing strict penalties for non-compliance. Recent actions, including barring Kotak Mahindra Bank from new customer sign-ups, highlight the RBI's serious approach to enforcing regulations. The central bank's tougher stance aims to improve governance and transparency in the financial sector, despite potential impacts on growth and capital costs. The RBI's increased vigilance follows high-profile banking collapses and aims to prevent systemic risks while promoting a more robust and transparent financial system.
Kotak Mahindra Bank is the latest student in RBI's classroom
The Reserve Bank of India's increased scrutiny on Kotak Mahindra Bank has resulted in a temporary halt on acquiring new customers through online and mobile banking channels and issuing fresh credit cards, causing a significant drop in the stock price of the private sector lender. However, the RBI has been taking incremental actions on financial institutions in recent years. Check the list.
ICICI Bank iMobile app glitch: Several ICICI Bank customers are now seeing details of other users when using mobile app
On the ICICI Bank iMobile app several users have claimed to be able to access details of other customers (people they don’t even know) – these include credit card details. If you can see other people's card and account details, make sure to raise the complaint to avoid and any misuse.
Kotak Mahindra Bank app, Net banking, UPI down? This is what the bank has to say
Kotak Mahindra Bank: The bank's mobile app and a few other digital services were unavailable to a large number of Kotak Mahindra Bank customers. In response to customers' complaints, Kotak Mahindra Bank stated on the social networking site, X, that its technical team is urgently addressing the matter, and a resolution can be expected shortly.
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