The RBI has decided to withdraw Rs 2000 denomination of banknotes from circulation under the clean note policy. People have been advised to deposit the currency, which was introduced six years ago, into their bank accounts or swap them for notes of other denominations at any bank
The Reserve Bank of India's Shanktikanta Das announced the move to enhance the ease of transactions and help plug frauds such as card skimming, card cloning
Virtual hearings have shown that matters can be heard quickly and disposed of quickly. Further, the barrier created by urgency, has ensured that only cases that truly belong in court are being brought to the court
State Bank of India (SBI) on Tuesday said instances of use of cloned ATM cards have been reported from the national capital and refund will be processed for the affected customers
Average daily transactions through the Aadhaar-enabled payment system (AePS) has doubled to Rs 113 crore
Issuing fresh guidelines for the second phase of the lockdown, which will be in effect till 3 May, the government on Wednesday said important financial services like banking and insurance will continue to function during the period to help people meet their financial needs
Coronavirus Outbreak: Centre asks states to ensure normal functioning of banks, ATMs during lockdown
The Centre has asked all states and Union Territories to ensure normal functioning of banks and ATMs during the lockdown period as the Rs 27,500-crore financial package announced under the Prime Minister Garib Kalyan Yojana will be disbursed in coming days
Coronavirus Outbreak: SBI introduces staggered timings from 7 am to 2 pm for branches in several states
The nationwide lockdown due to coronavirus outbreak has led to a decline in banking transactions at SBI but customers are using online and digital modes as usual.
The Reserve Bank is likely to allow banks to give relaxation to customers in paying their EMIs as the forced lockdown across sectors due to coronavirus pandemic
Yes Bank users can now make over Rs 2 lakh payments towards loans, credit cards via other bank accounts
On 5 March, the RBI in consultation with the government put a moratorium on Yes Bank till 3 April, citing serious financial mismanagement at the private sector lender.
IndusInd Bank promoted by the Hinduja group commenced operations in 1994
Three years after demonetisation, Rs 2,000 currency note loses sheen; banks to eject them completely from ATMs in a year
Though the efforts are underway to recalibrate about 240,000 ATMs to replace Rs 2,000 notes with Rs 500 notes, the high-value notes may not be withdrawn immediately .
PSB instructs officials to restrict circulation of Rs 2,000 notes, urges customers not to panic as no curbs on accepting
After issuing the directive to restrict the circulation of Rs 2,000 notes, senior officials of the PSB reportedly called branch managers to confirm that it was being executed immediately.
Digital economy: Love of cash hinders govt's objectives; currency in circulation rises 17% to Rs 21 lakh cr post-demonetisation
The demonetisation got rid of old 500 and 1,000 rupee banknotes and Modi said that would boost the country’s digital economy, unearth unaccounted wealth and reduce the use of cash.
Three years of demonetisation: Core problems note ban sought to address remain; pain outweighs gains
Digital payments spiked during the demonetisation and in the immediate months after that. Since then digital transactions have one up substantially, but so is the use of cash too.
India signs pact with Saudi Arabia to introduce RuPay card; third country in West Asia to initiate country's digital payment system
India has already launched the RuPay card in the UAE, Bahrain, Singapore and Bhutan
Cash still king in Japan: Ageing population doesn't prefer mobile payments; campaigns launched to change transaction habits
in Japan, where crime and counterfeiting are virtually non-existent, people feel more comfortable carrying cash and consumer response has been sluggish.
State Bank of India aims to eliminate debit cards; Yono cashpoints scaled up to facilitate cardless payments
SBI has set up 68,000 'Yono cashpoints' and is in the process of scaling it up massively to over 1 million in the next 18 months
Banks provide a certain number of free transactions at ATMs to their customers and beyond that impose charges
Aditya Puri also backed the Narendra Modi government's endeavour to promote digitisation in the banking system