Banks reported surge in frauds in FY24
As many as 36,075 frauds were reported in banks in the financial year 2023-24 (FY24), growing nearly 166 per cent
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banks
Charging of interest rates: RBI detects overcharging by banks, asks them to refund borrowers
The Reserve Bank of India (RBI) has come across instances of lenders resorting to certain unfair practices in charging of
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Share of term deposits in banks’ total deposits up at 60.3% in Dec 2023:RBI
The share of term deposits in scheduled commercial banks (SCBs) total deposits increased to 60.3 per cent in December 2023
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Banks keen to know customers better, address verification layers
Banks are working on updates to strengthen their KYC (Know Your Customer) standards by adding extra verification layers to identify
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RBI allows banks, non-bank of issue PPIs for public transport
RBI has allowed banks and non-banks to issue prepaid payment instruments (PPIs) for public transit services such as metro, buses,
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Be mindful of legal, cyber risks from AI: RBI official to banks
The banking sector and players in the space should be mindful of legal and cyber risks, and skill gaps emanating
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Banks facing disruption in UPI services, says NPCI
Some of the banks experienced Unified Payment System (UPI) connectivity disruptions due to internal technical issues, National Payments Corporation of
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HC asks IBA to ensure banks follow SOPs
The Delhi High Court has asked the Indian Banks Association (IBA) to hold a meeting of all its members to
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Unclaimed deposits with banks rise by 28%
There has been a 28 per cent annual increase in unclaimed deposits with the banks to Rs 42,270 crore as
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Banks disallow excess funds in credit card A/Cs
Indian banks are no longer allowing credit card users to pay more than their outstanding amount. And in the cases
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