Number of NEFT Transactions in India by Month
The above graph represents the monthly distribution of the total number of National Electronic Funds Transfer (NEFT) transactions in India, starting from April 2004 to October 2019. The number of NEFT transactions in India increased to 242.4 million in...
NEFT, RTGS Are Free Now: No More Charges On Online Fund Transfer
In a major reform by RBI, all online payment transfers done through NEFT or RTGS are made charge-free. It means that millions of online banking users in India, who indulge in NEFT or RGTS payment transfers actively, can have...
As Cyber Frauds in India Banking Sector Amount To Whopping US$13.7 Million RBI To Set Up Tracking Portal
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...
What Is Xiaomi Upto With The Launch of Financial Services In India
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...
Paytm Payments Bank Is In Hot Waters As RBI Dissatisfied With Its Working
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...
The Number of Card And Net Banking Frauds in India Totalled 1,785 In 2017
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...
Users Dilemma: RBI KYC Norms Choke Digital Wallets
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....
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...
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Artificial intelligence is poised to transform the trading sector: Is it concerning?
Trading is a fundamental endeavour that has been practised for many decades, perhaps centuries. Buying and selling products or...
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