Banking Transaction

He said that in a truly competitive market, banks might have sought to recover these additional costs from fintechs, but doing so could have slowed the pace of technological adoption.

According to industry experts, maintaining ATMs for banks has become an expensive task in urban cities as most ATMs remain idle with people using less cash amid rise in UPI transactions

Bank Holiday: As per the RBI, banks will stay shut on second and fourth Saturdays of the month, and Sundays, when in-branch services won't be available but customers can carry out digital transactions

Branchless banking and digital network PayNearby on Thursday said it plans to expand its national footprint by adding 5 lakh retailers over the next two years. The company also plans to hire an additional 300 to 400 team members by March 2026 to support the next phase of growth, PayNearby Founder, MD and CEO, Anand Kumar Bajaj said. The fintech firm employs more than 850 people as of March 31, 2025. "The company is focusing on strengthening platform capabilities, expanding reach, and accelerating UPI-led adoption aimed at onboarding 500 million users across India," Bajaj said. PayNearby plans to further expand its national footprint by adding 5 lakh retailers over the next two years, the official said. "Our growth plan remains centred on expanding our reach and impact across Bharat. In our next phase, we aim to become the third-largest UPI player in the country," Bajaj said. On financial performance, he said the company has recorded 12 consecutive quarters of profitability, ...

Bank holiday today: Banks in two states are closed today, June 11, 2025, due to Sant Guru Kabir Jayanti and Saga Dawa. Check holiday details and services available

The study found that about 85.5% of Indian households have at least one smartphone, while 86.3% have access to the internet within the home

Banks will remain closed for up to four days this week due to national and regional holidays. Check the complete schedule here

Airtel Payments Bank has surpassed one billion transactions on its platform in January 2025, reflecting a 47 per cent year-on-year growth in transaction volume across businesses, according to a top official. Anubrata Biswas, MD and CEO at Airtel Payments Bank told PTI that the "milestone" underscores increasing adoption of digital banking and payment solutions. It also highlights the diverse business model that the bank has built over the years. The bank caters to three key customer segments, urban digital, underbanked, and industries and institutions. "The bank's extensive digital presence combined with its deep distribution of over 5,00,000 banking points across India has been instrumental in making its services accessible to millions of customers in both urban and rural areas. Today, the Bank's monthly transacting users exceed well above 100 million," Biswas said. Airtel Payments Bank's 'Safe Second Account', which offers an additional layer of payment verification, has been ...

Various payment methods such as UPI, internet banking, and prepaid payment instruments (PPIs) can be used to pay bills

The results were "driven by relatively stable growth in payments volume, cross-border volume and processed transactions, plus strong momentum across new flows and value-added services," Chief

Improving CASA or low-cost deposit mobilisation is the focus area for the Canara Bank, and efforts taken in the direction are yielding results, its Managing Director K Satyanarayana Raju has said. "Current Account Savings Account (CASA) stood at 31 per cent of the total deposits, and the aim is to increase to 33 per cent by the end of the current fiscal," he told PTI. Rapid growth cannot be expected on the current account side, and it is another challenge to keep them for the long term as businesses tend to move them to term deposits quickly, he said. On the savings side, he said, "Our initiatives have started giving the results. You can see the accumulation and creation of the deposits. From year-on-year basis, June to June, if you see, there is an improvement of Rs 12,000 crore". The focus of the bank will continue on savings bank individual deposits by introducing unique and innovative products, he added. On business growth, he said the bank has given a target of 10 per cent fo

The initial cause of low number of ATMS across India is linked to the "Make in India" guidelines introduced in FY20, which required vendors to establish operations in India, leading to a delay

The banking regulator routinely directs banks in the country to monitor and track suspicious transactions during elections

The banking regulator said its NEFT system has registered a growth of 700 per cent in terms of the volume of transactions in the past ten years

The central bank introduced the wholesale pilot for CBDC transactions for the government bond auctions last year

Total banking transactions at GIFT International Financial Services Centre (IFSC) here reached USD 508 billion till July 2023, an official said on Tuesday. GIFT IFSC Executive Director Dipesh Shah said that till July 2023, the total banking asset size at GIFT IFSC stood at USD 41.20 billion, and cumulative derivative transactions booked by banks were worth USD 632 billion. There were a total of over 545 IFSCA registered entities at GIFT IFSC till July 2023, including 25 aircraft and shipping entities, and monthly turnover on the IFSC international stock exchange in July 2023 was USD 60.33 billion. Total commitments made to alternative investment funds till July 2023 was at USD 17.8 billion, he said. Shah said that as of date, over 5,000 employees worked at GIFT IFSC zone, and a proposal was received from a single company interested to employ 5,000 people in its GIFT IFSC unit. "These are the types of proposals we are discussing in terms of financial centre growth in coming years,"

The BRICS nations on Friday underlined the need for using local currencies in international trade and financial transactions besides committing themselves to supporting rule-based open and transparent global trade. A joint statement issued at the end of the meeting of the BRICS Ministers of Foreign Affairs and International Relations, also pressed for a robust Global Financial Safety Net with a quota-based and adequately resourced International Monetary Fund (IMF) at its centre. It further said the process of IMF governance reform under the 16th General Review of Quotas, including a new quota formula as a guide, should be completed by December 15, 2023. The joint statement titled 'The Cape of Good Hope', said ministers expressed their support for a free, open, transparent, inclusive, equitable, non-discriminatory and rules-based multilateral trading system with the World Trade Organization (WTO) at its core, with special and differential treatment (S&DT) for developing countries, .

They overtake debit cards for e-commerce and bill payments but remain a minuscule portion of personal loans

After rationalisation, nine Bank of Baroda branches will cater to large corporates while 27 will be for mid-sized corporates

The first stock market came up in Amsterdam in the 17th century. And the modern banking system evolved in Italy. The terms, Nostro and Vostro, came from that region. But what do they mean?