Net Banking

New banking connect platform to give RBI real-time oversight of transfers

Banking Connect, a newly launched net banking platform, will help the Reserve Bank of India monitor fund transfers in real time, a top official of NPCI Bharat BillPay said on Thursday. NPCI Bharat BillPay (NBBL) is targeting an increase of nearly four times in the number of monthly bills processed to 1 billion in four years, as against 260 million at present, Noopur Chaturvedi, managing director and chief executive of NPCI Bharat BillPay (NBBL), told reporters here. A real-time view of transactions on the Banking Connect platform will help the regulator monitor fund transfers to sectors such as cryptocurrency and gaming, Chaturvedi added. At present, it takes at least a week for the RBI to receive transaction data from banks via net banking, and sometimes it can take up to a year, she said. It is worth noting that the RBI has an aversion to private cryptocurrencies such as Bitcoin and has also taken a slew of regulatory measures to restrict their use. The government has recently ta

Exporters seek RBI relief amid US tariff, insurers seek GST input tax relief, Netbanking 2.0 & more

Banks and NBFCs are looking to raise funds overseas in the next two to three quarters, taking advantage of tighter dollar bond spreads after S&P upgraded India’s sovereign rating.

Indian Overseas Bank reverts to old internet banking after new system fails

IOB restores old platform after technical failure in revamped system developed by Infosys subsidiary EdgeVerve disrupts services and login access for customers

Beating insurance mis-selling by banks: Use e-banking, reduce branch visits

Echoing her views, Debasish Panda, chairman of the Insurance Regulatory and Development Authority of India (IRDAI), also underscored growing concerns regarding banks mis-selling insurance products

NBBL to begin work on net banking interoperability from April: Report

The RBI had earlier approved an interoperable system saying it will standardise settlement cycles for merchants, improve customer grievance mechanism

To avoid net blackouts, Trai may impose selective ban on WhatsApp, Telegram

Popular applications like WhatsApp, Facebook, and Telegram are likely to be among the apps under consideration for a selective ban

Issues related to cards, net banking top complaint areas at OBO: RBI report

Issues related to ATM/debit cards and mobile/electronic banking were the top grounds of complaints received at the Office of Banking Ombudsman (OBO) during April 1 to November 11, 2021, an RBI report said on Wednesday. The volume of complaints received under the Ombudsman Schemes/Consumer Education and Protection Cells during 2021-22 increased by 9.39 per cent over the previous year and stood at 4,18,184, it said. Of these, 3,04,496 complaints were handled by the 22 Offices of RBI Ombudsman (ORBIOs), including the complaints received under the three erstwhile Ombudsman Schemes till November 11, 2021. Complaints related to ATM/ debit cards were the highest at 14.65 per cent of the total, followed by mobile/ electronic banking at 13.64 per cent. Around 90 per cent of the total complaints were received through digital modes, including on the online Complaint Management System (CMS) portal, email, and Centralised Public Grievance Redress and Monitoring System (CPGRAMS). Majority 66.11

UP gets digital banking footprint with four of the 75 DBUs on its soil

The DBU are being set up to ensure the benefits of digital banking reach the remotest of places

TS ECET 2022 Final Seat Allotment Result today: Know details here

To check and download the TS ECET 2022 seat allotment result, candidates need to visit is tsecet.nic.in

Banks alert customers about mobile banking malware targeting over 200 apps

This malware captures the credentials when users log into their net-banking apps and access bank accounts

ITR 2021-22: How to e-verify income tax return to complete filing process

If the income tax return (ITR 2021-22) is not verified before the last date, it is deemed invalid (not filed) by the Income Tax Department

Outage hits ICICI Bank mobile, net banking; customers take to social media

Glitch in server caused disruption; Services restored after 2-3 hours

Axis Bank partners MinkasuPay for seamless net banking experience

Axis Bank announced its partnership with MinkasuPay to offer the smoothest net banking payment experience for its customers through a biometric authentication solution.

HDFC Bank says 'issues around mobile banking app' have been resolved

"Customers can now use NetBanking and mobile banking app for transactions. We regret the inconvenience and thank you for your patience," HDFC Bank tweeted.

Troubled by outages, HDFC Bank to use cutting-edge tech across businesses

In the letter to staff, CEO Sashi Jagdishan lists initiatives such as infra scalability, strengthening monitoring its Data Centre, and improving firewalls

How prepaid cards ensure that you don't go overboard on your expenses

They're also safer than credit and debit cards, and online transactions; just make sure you don't overload your prepaid card with too much money

Russia's Yandex in talks to buy online bank Tinkoff for $5.5 billion

Tinkoff is the world's largest bank that is fully online, with more than 10 million customers across Russia

Over 57% consumers prefer internet banking in Covid-19 era: Report

As the pandemic environment is moving consumers to interact more digitally with their banks, platform models offer agility and scalability during uncertain times

Covid-19 impact: HDFC, ICICI urge customers to use digital banking services

HDFC Bank has urged people to use cheque drop boxes to help reduce crowding in branches

Diversifying contactless payments a way ahead during coronavirus outbreak

Some countries have already quarantined cash, while others like South Korea, have burnt, or high-heat laundered their notes