WRONG BANK ACCOUNT

CIBIL score dropped due to bank's fault: Doctor won the legal battle with Rs 2.6 lakh as damages after 7 years, lessons you can learn from this

CIBIL score: A doctor had AMEX credit card issued by a bank with credit limit of Rs 3.25 lakh. However his bank reported him as a defaulter and thus his CIBIL score dropped by a big margin This happened despite the doctor paying the bank by personally handing over a cheque with number 69131. However ICICI Bank, Vadodara branch stepped in to help solve this case.

New UPI scam: Fraudsters send you 'Rs 200.00' and ask to return Rs 20,000; how to protect yourself from UPI overpayment scam

UPI overpayment scam: You should be careful before sending or accepting any UPI collect money request especiallly from unknown numbers or IDs. This is because scamsters have now become more sophisticated and specifically targetting various tricks to make sure you stay distracted enough to not notice the scam. Read here how a individual got saved from this scam and what you can do.

Rs 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 insufficient or zero balance. Has your bank done the same too?

'What's wrong in calling PM Modi 'Jhoothon Ka Sardar': Congress chief Mallikarjun Kharge

Big bosses talking up the market is very scary because things can go wrong: PV Subramanyam

PV Subramanyam advises investors to focus on long-term investment strategies, considering market cues cautiously and diversifying portfolios to mitigate risks. He says that we ne need to be careful that the market can go down. The big bosses are talking up the market, which is very scary because things can go wrong and we need to be ready for that.

Gurucharan Singh’s father reveals ‘Taarak Mehta’ star often appeared ‘troubled’

As per a Deccan Herald report, Singh possessed over 27 email accounts, fearing surveillance by unknown entities, prompting him to frequently change his email addresses. Additionally, reports revealed that Singh oversaw ten bank accounts and relied heavily on credit cards. It was also noted that he frequently utilized these cards and faced financial instability.

Bank liable for wrong done by its employees: SC orders bank to compensate man

Supreme Court holds District Cooperative Bank liable for employee actions, orders compensation of Rs 25,000 to a man after three decades. Bank failed to release fixed deposit receipts worth Rs 1,60,000 in Varanasi. Petitioner awarded refund with interest and damages by district consumer forum in 1997. Apex court overturns NCDRC's ruling, emphasizing bank's vicarious liability for employee conduct.

Money mule transactions: Banks may block your account for these fund transfers; here's how to secure your account

Bank account block: There are at least 5 Indian banks who are tracking money mule transactions conducted through their account holders. In this regard HDFC Bank has already taken an action and launched investigation too in the suspected cases. Know here how banks may block access to your account and funds if a money mule transaction is found.

Mutual fund investment frozen for KYC? Know who can do re-KYC online and who has to do it offline

KYC for mutual funds: It is a regulatory requirement that re-KYC be completed by many investors by April 1, 2024. Although the process of completing re-KYC is easy enough, the lack of clarity among investors is causing issues. There are reports of people's KYC getting 'registered' status and not 'validated'. Then there is the issue of using Aadhaar, etc.

CPI(M) has links to 80 'undisclosed' bank accounts, 100 offices in Thrissur: ED informs EC

The federal probe agency said it came across these assets while investigating affairs of the Thrissur-based Karuvannur Service cooperative bank in which it had questioned Kerala CPI(M) MLA and former cabinet minister A C Moideen. Official sources said that the agency has informed the Election Commission (EC) that the party has links with about 80 "undisclosed" bank accounts that have about Rs 25 crore worth of deposits. The deposits found in these bank accounts were majorly remitted in cash, the ED has claimed.

Stark divergence in projected returns of private and PSU banks in next one year: Will analysts again be caught on the wrong foot?

One sector where the street has been giving differential treatment for many years has been the banking space. Private banks were preferred over their PSU counterparts. But three years back, things started to change. Much loved private sector banks started to stagnate, both in terms of absolute price movement and also in valuations. It was not that immediately the PSU banks came into limelight, there was a phase of more than a year when both private and public sector banks were ignored. But then a year back it was PSU banks which got into limelight and since then have been doing well. But as they say, any kind of bias dont go away easily. Analysts estimates for next year's upside potential are far higher for private sector banks as compared to PSU banks. Possibly they are taking into account the fact that when the capex cycle takes upturn, which it has, PSU banks are much more likely to benefit as they have balance size and more importantly the mind set for that kind of lending.

Mismatch in ITR filed: Received wrong tax demand notice? How to inform income tax department about it

Our panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us right away.

Congress has multiple bank accounts, just 3-4 of them attached, 'not frozen': BJP

BJP accuses Congress of misleading claims on bank account attachments for tax dues ahead of Lok Sabha poll. Rs 125 crore frozen by Income Tax department due to violation of Income Tax rules with multiple PAN numbers. Congress holds Rs 1,000 crore and Rs 500 crore fixed asset.

ICICI Bank customer accuses manager of stealing Rs 16 crore from her FDs. Bank responds

A Gurgaon woman accuses an ICICI Bank manager, reported by BBC, of embezzling Rs 16 crore from her life savings. The manager created fake accounts, forged signatures, and manipulated transactions, leading to a police investigation.

Transferred money to wrong UPI linked mobile number? Here's how you can get it back

Transfer of money to wrong UPI number: There might be a situation when a particular mobile number which was linked with unified payment interface (UPI) got deactivated and got allocated to another individual who in turn has linked the said mobile number with his bank account. This can result in unintentional transfer of money to another individual.

The U.S. seems to be dodging a recession. What could go wrong?

Inflation falling, unemployment low, and the Federal Reserve could cut interest rates. Wells Fargo economists predict a soft landing, but still see elevated recession risk due to signs of weakness in the labor market. The effects of higher interest rates may be slower this time as companies refinance debt and buffers like savings and credit card borrowing dwindle. The return of inflation could put policymakers in a tight spot, unable to cut rates and potentially considering rate hikes. Unforeseen events like disruptions in shipping lanes or new threats could upset the balance and create job loss.

4 things that can go wrong if you invest just to save tax

Many investors view tax concessions as choices that must be optimised. Why should we worry about this? We may end up with an asset allocation that will not serve our goals and needs. We may give up operational flexibility while choosing products. We may not be able to access the asset for other important uses.

Uco Bank yet to recover Rs 171 crore of Rs 820 crore credited wrongly to account holders

The bank on Friday informed the stock exchanges that it recovered Rs 649 crore, which is 79% of the amount wrongly credited to account holders between November 10 and November 13. The bank has blocked the recipients’ accounts and has taken the IMPC system offline to prevent further drain.

What exactly went wrong at Bank of Baroda, and what it tells about India's digital banking

Amid the rush to digitise banking, the news that employees of Bank of Baroda (BoB) tampered with bank accounts to inflate the number of digital users flags serious gaps in banking digitisation and lack of oversight as well as foolproof standard operating procedures.

India gets 5th set of Swiss bank account details under automatic info exchange framework

India has received a new set of Swiss bank account details as part of an annual automatic information exchange. Switzerland has shared information on nearly 3.6 million financial accounts with 104 countries. This is the fifth such exchange between Switzerland and India, with the new details including hundreds of accounts associated with individuals, corporates, and trusts.

Do you remember the nominee in your bank savings a/c? Here's how to check, add nominee to savings account

A nominee is a person that an account holder designates to claim the money in the savings account after the original owner of the account dies. Without a nominee, the process of transferring the funds in the absence of the accountholder is lengthy and cumbersome. How to check if you have added a nominee or how to add a nominee

Sent money to the wrong UPI address? Here's how you can reverse transaction

UPI transactions are known for their speed and efficiency, leaving little room for corrections once the funds are transferred. Yet, the NPCI has introduced the "UPI Auto-Reversal" system to address such scenarios. It's important to note that not all transactions are eligible for reversal.

Transferred money to the wrong bank account? How to get it back, SBI suggests steps

What happens if you transfer money to the wrong bank account by mistake? What are the steps you need to follow to get your money back? State Bank of India (SBI) answers. Read on.