Paytm Payments Bank has added a brand new feature that analyses ‘rogue’ apps on user devices that may trigger fraudulent transactions and advises users to uninstall them. The move is a step towards fighting against the online fraudsters who are damaging the Indian digital payments ecosystem. PPB is also leveraging artificial intelligence to detect and block suspicious transactions. “The AI has been specifically designed keeping in mind the patterns of the various scams being run by fraudsters and is, therefore, able to combat most attacks on user accounts in real-time. The feedback on the new security features has been overwhelmingly positive,” Paytm said. With its dedicated fraud detection & prevention team of over 200 cybersecurity experts and industry stalwarts, the bank is focusing on ensuring round the clock security of every user transaction. The teams are working closely with all state and central police forces and cyber-cells, and also the telecom … [Read more...] about Paytm Payments Bank’s new feature to safeguard user accounts
New Delhi: The government on Tuesday directed all banks to set up committees of senior officials to monitor progress of pending disciplinary and internal vigilance cases and set timelines for completion of such cases to prevent damaging morale of staff, according to a release by the finance ministry. The government has also delegated powers to the boards of PSBs to set mechanisms to ensure compliance with fraud reporting timelines set by the central bank and the Central Vigilance Commission. The government has directed banks to “set up a committee of senior officers to monitor progress of pending disciplinary and internal vigilance cases as procedural delay, on one hand, adversely affects morale of the employees and on the other, breeds inefficiencies in the system,” said the release. The release noted that this move was part of government efforts to “protect honest commercial decisions” taken by bankers and distinguish between genuine commercial failures and … [Read more...] about Government directs banks to address pending disciplinary cases
Kolkata: The Centre is looking to infuse fresh capital into regional rural banks (RRB) to help them meet the minimum capital requirement of 9 per cent and this may find a mention in the Union Budget on February 1, people close to the development said. The size of the capital infusion could be in the range of Rs 10,000-15,000 crore, which would be spread over a span of five years. Capital infusion in RRBs assumes importance as the government is finding ways to boost credit to the farm sector. The government may also put the National Bank for Agriculture and Rural Development (Nabard) at the centre of its effort to address rural distress. The Budget may also spell out plans to form state-level rural banks by way of amalgamating RRBs in states where multiple entities exist. According to documents assessed by ET, a proposal to provide the central government’s share of recapitalisation assistance to RRBs has been under “active consideration of the government and is expected … [Read more...] about Bid to boost farm credit: Regional Rural Banks may get fresh capital
NEW DELHI: Nifty futures on the Singapore Exchange traded 28.50 points, or 0.24 per cent, higher at 12,096.50, indicating a positive for Dalal Street. Here are a few stocks which may buzz the most in today’s trade: Tata Power, Bajaj Finance: Bajaj Finance, Tata Power, The Ramco Cements, IDFC First Bank, Jubilant Foodworks Aptech, Bajaj Finserv, Escorts and GCPL are some of the companies which will report their December quarter earnings today. TCS: Tata Sons has started the process of arranging funds for paying off the Rs 13,823-crore AGR dues of Tata Teleservices, said top officials close to the development. It will most likely bank on group flagship TCS for sourcing funds in case it has to pay the dues immediately, an official privy to the matter said. Bharti Airtel: The $3 billion (Rs 21,240 crore) fundraising exercise has eliminated concerns over viability as it’s now better equipped to pay statutory dues, Bharti unit Airtel Africa said in its December quarter … [Read more...] about Stocks in the news: YES Bank, Bajaj Finance, ITI, TCS, DHFL and Tata Power
“Our demand is genuine,” said C H Venkatachalam, general secretary of All India bank employees association. “If one adjusts inflation and the work load on employees, the pay must be rewarding,” Venkatachalam said. An IBA official said the issue will be discussed in tomorrow’s meeting. … [Read more...] about Do India’s pubic sector bank employees deserve a 20% pay hike?