We estimate that usage of e-wallet, a form of electronic stored value which is used for transactions made online or in-store through a computer or a smartphone, is increasing, and it is expected to become one of the most preferred payment methods alongside credit and debit cards. … [Read more...] about NIPPON Platform and Hana Bank to enable seamless cross-border payments
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-Document and apply baseline security requirements/configurations to all categories of devices (end-points/workstations, mobile devices, operating systems, databases, applications, network devices, security devices and security systems.), throughout the life cycle (from conception to deployment) and carry out reviews periodically. … [Read more...] about Cooperative banks in Pune upgrade cyber security to meet RBI’s March 31 deadline
Demat account annual maintenance chargesLike other charges, some of which are waived off, a Demat account holder will have to pay an annual maintenance charges (AMC) to the Depository Participant (DP) for the services rendered. Also known as folio maintenance charges, these charges are to be paid in advance and typically ranges from Rs 300 to 900 per annum. Some DPs may also charge quarterly fees, while others may charge a lifetime fee of over Rs. 2000 and above. However, with a number of DPs competing among each other to lure customers, many of them have waived off AMC charges for the first year and initiate billing from the second year only. The DPs under banks normally have differential rates of AMC. Those banks who offer three-in-one (demat, trading & savings) account generally charge lower as the mapping of the trading account is with the same bank's savings account. However, in a case when the mapping is with other bank’s savings account they charge higher. … [Read more...] about Everything about demat account fees and charges
In April 2019, Bank of Baroda in a first three-way merger exercise amalgamated Vijaya Bank and Dena Bank with itself. The SBI had merged five of its associate banks - State Bank of Patiala, State Bank of Bikaner and Jaipur, State Bank of Mysore, State Bank of Travancore and State Bank of Hyderabad and also Bharatiya Mahila Bank with itself effective April 2017. … [Read more...] about Efforts of banks under PCA frameworks are being monitored: RBI Governor
It’s a clear indication of the higher risk in public sector banks. The RBI report says, ‘the predominance of frauds among PSBs point to possible inadequacy of risk mitigation processes. The assessment and inculcation of appropriate Risk Culture in an organisational milieu assumes importance in this regard.’ … [Read more...] about Quick Take | With so many frauds in PCA banks, why take the risk of allowing them to lend?