Automatic Teller Machines (ATMs) not dispensing cash but money from bank accounts getting debited is the most common grievance among users. According to data released by Reserve Bank of India, in FY18 alone, 16,000 or 10% of all customer grievances at the banking ombudsman offices were registered under the head ‘account debited but cash notRead More

In the wake of the Supreme Court order on Aadhaar, the government and the Reserve Bank of India (RBI) are in talks to allow use of ‘offline Aadhaar’ that relies on QR codes, instead of the biometric eKYC, for opening bank accounts, operating payment wallets and purchasing insurance covers. The move is significant as itRead More

Changes in regulatory landscape are making it unviable to operate ATMs, and may lead to the closure of half of the 2.38 lakh machines in the country by March 2019, the Confederation of ATM Industry (CATMi) warned on Wednesday. Closure of the ATMs will impact thousands of jobs and also the the financial inclusion effortsRead More

State Bank of India (SBI) customers cannot withdraw more than Rs. 20,000 from October 31. The cash withdrawal limit on the SBI Classic debit card has been halved from Rs. 40,000 amid growing concern over the cloning of ATM cards, the country’s largest bank had said earlier this month. In the festival season, the SBIRead More

Bharat Sanchar Nigam Limited is now introducing a new prepaid tarrif plan which is known as Mega Offer inmind of forthcoming festive season in select states. BSNL Mega Offer is offering the special tariff voucher priced at Rs 399 for just Rs 100 to new users joining its network. BSNL has said as this offerRead More

Airtel wants to say thanks to all those customers, who are upgrading to a 4G connection. Under #AirtelThanks initiative, which was launched in August, anyone can get Rs 2000 from Airtel, by buying a new 4G smartphone. That purchase can be made anywhere (online/offline), and there has to be no postpaid connection as well. TheRead More