Reserve Bank of India (RBI) on recently relaxed norms by doubling the transaction cap on small money transfers, who do not have bank accounts,
Under the new norms, the cash payout arrangements for amounts being transferred out of bank accounts to beneficiaries not having …
If a customer desires to see physical cheque issued by him, what options available in CTS?
Under CTS the physical cheques are retained at the presenting bank level & do not move to the paying banks. In case a bank customer desires, banks can provide images of cheques duly authenticated. In case, however, a bank customer desires to see / or get the physical ch…
Banks to put up list of unclaimed deposits on Web site : RBI
The Reserve Bank of India ( RBI) on recently asked banks to display the list of unclaimed deposits and inoperative accounts which have been inactive / inoperative for ten years or more on their respective Web sites.
According to the RBI notification, the list so displayed …
New CTS Cheques : Faster, More efficient, Secure Payment..!
From January 1, 2013 our country India will move to a faster, more efficient and secure payment settlement system in which banks will only honour cheques embedded with new features. Under the new CTS (Cheque Truncation System) cheques will be cleared in a day - against 3 day…
Banks May Make Your Identity Public : Loan Defaulters Beware...!
Adopting a name & shame policy to make home loan borrowers pay their dues, banks have decided to publish in newspapers photographs & details such as names and addresses of wilful loan defaulters and market leader State Bank of India (SBI) has taken the lead in doing…
Is Islamic Banking Possible in India?
The Reserve Bank of India (RBI) governor, Mr. D.Subbarao on recently said the current Banking Regulation Act does not permit Islamic banking & that the central government will have to bring in a new law if it wants to introduce it in India. The governor Mr. D.Subbarao sa…
RBI Rule : MICR, IFSC Code Must on Passbook, A/C statement
The RBI (Reserve Bank) has made it mandatory for all banks to print the MICR and IFSE code on the passbook and statement of account of the customers.
RBI said in a statement, “Now the MICR code is available on the cheque leaf along with the IFSC code of the branch. On a …
New Saving Account With No Cheque Book, No ATM Card, No Debit Card, No Passbook..!
b2 is the next step in the evolution of banking by India's largest private bank ICICI BANK. It's a savings account, where everything is done online. As everything is available online, we have trimmed services you rarely use & compensated you with a few addition…
Tamilnad Mercantile Bank : Launched Mobile Banking
The Reserve Bank of India (RBI) on recently indicated that it would like to bring in a system under which a credit card holder is not liable for transactions done fraudulently using his card. Zero Liability Policy..!
Speaking at a the launch of the mobile banking facilities…
Reserve Bank : Never asks for Your Bank Account Details
It has come to the notice of India's Central bank RBI (Reserve Bank of India) that mail has been sent in its name “inviting bank customers to update their bank account details against online phishing”.
RBI Never asks for Your Bank Account Details
The Reserve Bank has c…
