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When I was a trainee in Hong Kong, I used to attend the weekly meetings of branch managers, purely as an observer. These meetings gave me an insight into the Bank’s corporate culture.   Most of the attendees were HK-Chinese branch managers, and the rest were British managers who...

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IANS 14 January 2023
Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday reiterated that crypto currencies are equivalent to gambling, as their perceived value is only make believe.   Addressing a media event here, Das called for a ban on cryptos, saying there is no underlying value in it....

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IANS 02 January 2023
Noting that there is turmoil in crypto assets market, the Reserve Bank of India (RBI) has suggested a framework for international regulation of such crypto activities.   In it's financial stability report, which was released on 29 December 2022, the central bank has said that "the...

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IANS 02 January 2023
Efforts to connect the poorest of the poor with banks are underway throughout the country, so that the amount of subsidies provided by the government can go directly to their bank accounts. However, it is surprising that 4,837 branches of several banks have been closed in the past two...

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Moneylife Digital Team 08 August 2022
Customers of registered credit bureaus can now approach the Reserve Bank of India (RBI) for faster resolution of their credit scores and related complaints. Credit information companies (CICs), more commonly known as credit bureaus, will be included under the central bank’s integrated...

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Moneylife Digital Team 27 July 2022
The amount of unclaimed deposits is on the rise despite repeated public awareness campaigns undertaken by the Reserve Bank of India (RBI) and the banks.   RBI is now encouraging people who have not claimed their deposits to reach out to the respective banks for such deposits....

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Moneylife Digital Team 04 June 2022
A minority shareholder group of 11 shareholders, constituting  a total shareholding of around 13.67%, has called for an extraordinary general meeting (EGM) flagging concerns about the working of Dhanalaxm Bank. The causes for calling this meeting, as stated by those requisitioning the EGM,...

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Moneylife Digital Team 01 June 2022
According to the just-released Reserve Bank of India's (RBI) annual report, during FY21-22, 79,669 fake notes of Rs500 were detected, which is 101.9% higher in comparison to FY20-21’s figure of 39,453 notes. On the other hand, 13,604 fake notes of Rs2,000 were detected in FY21-22, 54.6%...

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Moneylife Digital Team 09 November 2021
Banking malware threats are sharply increasing as cybercriminals target the rising popularity of mobile banking on smartphones, with plots aimed at stealing personal banking credentials and credit card information, says a report.   The Nokia 2021 Threat Intelligence Report, based on...

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Moneylife Digital Team 18 August 2021
In a path-breaking judgement the Gondia District Consumer Disputes Redressal Commission has directed the State Bank of India (SBI) to reverse the disputed transaction of Rs18.36 lakh into the customer's bank account.   The Commission even directed SBI to recover the money from the...

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Moneylife Digital Team 11 August 2021
Indian banking customers are being targeted by a new type of phishing attack using the ngrok platform (a web service provider). The malicious actors have abused the ngrok platform to host phishing websites impersonating internet banking portals of Indian banks. Using these phishing websites,...

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Rajendra H Gill 07 August 2021
The Reserve Bank of India (RBI) has done it again.   The public auction, yesterday, of the new benchmark 10-year GSec (6.10% GS2031) witnessed decent investor participation with a bid-cover ratio of 1.60. However, RBI rejected ALL bonafide bids for Rs14,000 crore on offer for this...

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IANS 03 August 2021
To safeguard the interest of its customers, the State Bank of India (SBI) has launched a new security feature -- SIM Binding in YONO and YONO Lite.   The new version of these platforms will protect customers from various digital frauds. With the SIM Binding feature, YONO and YONO Lite...

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Moneylife Digital Team 16 July 2021
India’s largest state-run lender State Bank of India (SBI) has issued a warning about ‘phishing links’ to its customers. SBI has alerted its customers not to click on links containing ‘gift from the national bank’ and ‘freebies’ if received on their mobile number or email ID. SBI disclosed...

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In fresh trouble for the State Bank of India (SBI), hackers of Chinese origin are targeting bank users with phishing scams, asking them to update their KYC using a particular website link and offering free gifts worth Rs 50 lakh from the bank via a WhatsApp message, cybersecurity researchers...

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Moneylife Digital Team 06 July 2021
Close on the heels of revised charges from State Bank of India (SBI), private sector lender ICICI Bank is now rolling out revised limits of cash transactions, ATM interchange and cheque book charges for its savings account holders from next month onwards.    ICICI Bank's portal has...

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Moneylife Digital Team 06 July 2021
The central information commission (CIC) has stayed the order of the first appellate authority (FAA) of the Reserve Bank of India (RBI) for the release of information on non-performing assets (NPAs) and top defaulters of the Saraswat Co-operative Bank Limited. This is the first time a stay...

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The Reserve Bank of India (RBI) has amended the norms as per which unclaimed maturity proceeds of term deposits (TDs) with banks will attract the rate of interest as applicable to savings accounts or the contracted rate of interest on the matured TD, whichever is lower.   As per the...

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The State Bank of India (SBI) has increased the cash withdrawal limits through cheques and withdrawal forms for its customers at non-home branches.   "To support our customers in this pandemic, SBI has increased the non-home cash withdrawal limits through cheque and withdrawal form,"...

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Moneylife Digital Team 30 April 2021
State Bank of India (SBI) has warned its customers about falling for the quick response (QR) code scams - an active prevalent fraud practice in online money transfer transactions.   The country’s largest public lender has asked its customers not to scan any QR code shared by anyone...

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