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As Cyber Frauds in India Banking Sector Amount To Whopping US$13.7 Million RBI To Set Up Tracking Portal

cyber frauds at banks
Digital transactions have been a boon to people everywhere. They have reduced the erstwhile physical exertions involved in bank transactions to a mere tap or mouse click. However, with the increase in ease comes the increase in liabilities. One of these liabilities on the rise in recent times has been cyber frauds at banks. In the year 2017-18, in...

What Is Xiaomi Upto With The Launch of Financial Services In India

xiaomi financial services
Xiaomi has been the talk of the town in the past few months. Ever since becoming the most sold smartphone company in India, Xiaomi has been pretty ambitious. From launching its own sub-brand to compete with Samsung and OnePlus smartphones to developing smart TVs, Xiaomi has been everywhere. And now, it has managed to go one step further with...

Paytm Payments Bank Is In Hot Waters As RBI Dissatisfied With Its Working

paytm payments bank stop customers enrollment
Paytm has gained a lot of popularity over the past few years, trying to allure its users through exciting cashbacks and attractive offers. In an attempt to retain its current user base and to further expand it, Paytm launched Paytm Payments Bank in November last year. The plan was working smoothly, until recently, the enrolment of new customers stopped...

The Number of Card And Net Banking Frauds in India Totalled 1,785 In 2017

net banking frauds in India
It has not been long since the Panjab National Bank (PNB) fell victim to India's biggest bank fraud involving alleged embezzlement of funds worth nearly Rs 1.8 billion (about Rs 11394 Cr). Famous jewellers Nirav Modi and his uncle Mehul Choksi, being the main culprits, were indicted after they were off-bounds. Yet a new finding has revealed credit/debit cards and...

Users Dilemma: RBI KYC Norms Choke Digital Wallets

e-wallet-another
RBI agrees on wallet money to be used without KYC (Know Your Customer), but with conditions.28th of Feb, which is tomorrow, supposedly happens to be the last day for completion of the mandatory KYC compliance by Prepaid Wallet users. RBI has come out in the favour of Digital Wallet users and assured that their Wallet money is safe and...

PayPal Upsurges Receiving Limited to $3000 for Indian Merchants

PayPal has finally managed to break the ice with Reserve Bank of India on current ‘transaction limit’ chaos for Indian merchants – atleast till an extent.  Going further, Indian merchants - who use PayPal to receive money from overseas – can receive upto $3000 per transaction instead of earlier trivial figure of $500. However, there is nothing mentioned over...

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