Banks

TRAI’s New Guidelines May Cause OTP Delays From September 1

27 Aug 2024

Starting September 1, customers across India might face disruptions in receiving essential service and transaction messages from banks, financial institutions, and e-commerce platforms on their mobile phones. This stems from a new directive by the Telecom Regulatory Authority of India (TRAI), aimed at curbing spam and phishing attempts. TRAI's Crackdown...

Global IT Outage Sparks Chaos: Airlines, Banks, Media, And Telecoms Hit

19 Jul 2024

Australia is grappling with a significant IT outage that has disrupted a range of essential services, including banks, supermarkets, telecommunications, media outlets, and airlines. The National Cyber Security Coordinator confirmed on Friday that a "large-scale technical outage" is affecting numerous companies and services across the country. The coordinator's statement indicated...

Bank Holidays in March 2024: Banks to be Closed for 14 Days; Check Details

01 Mar 2024

Private and public banks in India will be closed for a total of 14 days in March, aligning with the Reserve Bank of India's holiday schedule. This month, banks will observe an additional eight days of closure, including the usual weekend breaks on the second and fourth Saturdays along with...

Banks, NBFCs should stress test their books, suggests RBI Governor

22 Nov 2023

Governor of the Reserve Bank of India Shaktikanta Das urged banks and non-banking financial companies (NBFCs), among other financial institutions, to keep stress testing their books on Wednesday. The comments made today closely followed the RBI's announcement last week that it was raising the risk weight for banks' and non-banking...

Massive Queues ! Public Rushes to Deposit Rs 2,000 outside RBI Chandigarh

03 Nov 2023

A significant crowd gathered outside the Reserve Bank of India's (RBI) regional office in Chandigarh to exchange Rs 2000 notes from Himachal Pradesh, Haryana, and Punjab. With commercial banks no longer accepting these high-denomination banknotes, people have turned to the RBI's 19 offices across the country for exchanges. The rush...

CM YS Jagan Mohan Reddy released Rs 395 crore

11 Jan 2023

Under the Jagananna Thodu scheme Andhra Pradesh Chief Minister YS Jagan Mohan Reddy on Wednesday released Rs 395 crore which will provide interest-free loans through banks. "It is a matter of pride for the state that because of the scheme, the state has sanctioned over 24 lakh loans out of...

Think Tank of India outlines map for Digital banks

21 Jul 2022

The National Institution for Transforming India has outlined a licencing and regulatory scheme for digital banks that works to cut down on any regulatory or policy arbitrage and provides a level playing field for the incumbents as well as competitors. The think tank of India, NITI Aayog, in a report...