Online classes, mobile banking, railway bookings, e-medicine services take a hit
Out of 100 transactions at SBI, only 9 transactions are being made in branches
RBI needs to handle fintechs with care, so that innovation, necessary for inclusion and cost-effective, fast transactions, is not stymied
A recent report put the number of card and net banking frauds at 1,367 in FY17, about 2,127 in FY18, and 1,477 in FY19
The bank's customers couldn't access these services from 10 am on Monday to early Wednesday morning. Many tweeted saying they could neither access their salaries nor make recurring payments
The drive towards mobile is taking customers away from internet banking, but the overall pie of digital continues to grow
Volume in mobile banking for all banks in April, May, June stood at 106.27 mn, 114.26 mn, 115.73 mn
This is part of the government's efforts to boost the digital payment system