On 15th October 2020, ICICI Bank added new features in its WhatsApp Banking services using which customers can create fixed deposits, pay utility bills, and access trading finance details instantly. The primary objective of launching these services on WhatsApp is to make banking even more convenient and accessible for the customers. This service is available…
The Unique Identification Authority of India issues the 12-digit Aadhaar Number to all the residents of India which acts as the proof of identity and proof of address for availing government subsidies and benefits. The Aadhaar Number, however, is not a citizenship certificate but it is imperative to protect the security of Aadhaar and prevent…
The Department of Telecom has now allowed the use of Aadhaar Card or Virtual ID for the online verification (e-KYC process) of mobile connections with effect from 29th September 2020. In the e-KYC based process, the Aadhaar Authentication will now be authorized online using the customer’s Aadhaar number or virtual ID and biometrics to provide…
With an intention to strengthen its image as a people’s company, Tata Group has unveiled a new series of structured loans: Flexi EMI Loans. The Group has introduced these structured loans under its financial services arm, Tata Capital.
After a significant increase in the number of reported banking frauds, in the first half of 2020, RBI has signed and sealed new guidelines to secure debit cards and credit cards. These guidelines will be operative from 1st October 2020. RBI has also instructed all the banks as well as card-issuing companies to disable online…
IDBI Bank has recently enabled a new feature of document embedding with LC/BG (Letter of Credit/Bank Guarantee) messages over the SFMS(Structured Financial Messaging System) platform of IFTAS using the intermediate application i@Connect-SFMS. Also, IDBI is the first bank to enable this banking feature. Benefits of IDBI Bank’s New Document Embedding Feature This new feature of…
Being mindful of the mushrooming of fraudulent banking activities, State Bank of India has decided to improve and secure SBI ATM transactions for its customers. The bank has extended its OTP based cash withdrawal facility for withdrawals of Rs. 10,000 and above, w.e.f 18th September 2020. Earlier, SBI OTP security was furnished for all withdrawals…
