UPI transactions drop in March, RTGS shoots up due to lockdown
Unified Payments Interface (UPI) is an instant payment system developed by the National Payments Corporation of India. UPI is built over the IMPS infrastructure and allows one to instantly transfer money to any bank account. According to the data, the volume of UPI transactions in March slipped to 124.68 crore from 132.57 crore in February.
ICICI, HDFC Bank change working hours, push customers to go digital amid coronavirus outbreak
ICICI Bank informed its customers through SMS t...
Yes Bank users can now make over Rs 2 lakh payments towards loans, credit cards via other bank a/cs
Current accounts can be also debited for ...
RBI considering giving fintech cos access to NEFT and RTGS clearing systems
The central bank may also soon introduce new payment umbrella organizations to compete with NPCI.
IMPS transfers in April plunge to 2-year low
April immediate payment numbers are a two-year low, according to data from the NPCI.
Bank of Maharashtra gets government mandate to collect donations for PM Cares Fund
"One can also remit contributions directly by electronic clearing system (ECS) to the designated savings bank account of Bank of Maharashtra," the release said. The contribution made for the fund is 100 per cent exempted under Section 80G of the Income Tax Act.
All bank branches across India operational from Monday
Cash deposit and withdrawal, clearing of cheques, remittance services, government transactions and ATM services as listed as essential banking services.
Fund transfer via RTGS, NEFT set to get cheaper from Monday
After announcing its decision to waive all charges on fund transfer through RTGS and NEFT systems, RBI had also asked banks to pass on the benefits to customers from the same day.
Covid-19: Karnataka Bank announces waiver of charges for digital transactions
Private sector lender Karnataka Bank on Tuesday announced waiver of charges for NEFT, RTGS, IMPS and UPI transactions done through its digital channels and ATM transactions from Bank’s own ATMs to its customers until further notification.
Wash hands after handling currency notes, appeals IBA to avoid risk of spreading coronavirus
IBA has also asked customers to use online and mobile banking channels for making their transactions and avoid visiting bank branches as it could pose a risk to banks' front desk staff.
Fund transfers via RTGS, NEFT to cost less from July 1
Country's largest bank SBI charges between Re 1 and Rs 5 for transactions through NEFT and between Rs 5 and Rs 50 for RTGS route.
Covid-19: RBI asks most of its staff work from home
Amid the rising cases of the novel coronavirus in the country, the Reserve Bank of India has allowed majority of its staff across its centres to work from home. The total strength of the central bank is close 14,000, of which around 4,000 are based in Mumbai.
Customers deposits absolutely safe, bank in talks with investors, says RBI-appointed admin
The cash-starved private sector lender has come under the direct oversight of the Reserve Bank with the supersession of its board last Thursday and a moratorium has been placed till April 3, during which customers are now allowed to withdraw up to Rs 50,000.
Small lenders that cleared cheques via Yes Bank stuck
Yes Bank’s disconnect from various payments and fund transfer networks is affecting over 50 small banks, including cooperative, foreign and regional rural banks. With the moratorium shutting Yes Bank from the cheque clearing and real time gross settlement (RTGS) systems, several other banks that depend on the troubled private lender are also shut out.
Yes Bank crisis: Moneyless in Seattle, card holders send SOS
The situation is grim for customers carrying Yes Bank forex cards, with their access to payments - cut off.
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