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Be alert against fraudsters; desist from sharing sensitive info online: SBI tells customers

With digital transactions gaining traction amidst rising COVID cases, the country's biggest lender SBI has cautioned its customers to be alert against fraudsters and not to download any app from an unknown source. The lender also asked its customers not to respond to unsolicited offers, however attractive, received through e-mails,

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RBI penalises Bihar-based co-op bank for KYC violation during exchange of demonetised notes

A Bihar-based co-operative bank has been penalised for violation of directions on KYC and guidelines related to exchange of demonetised notes, the Reserve Bank said on Monday. In November 2016, the government had demonetised the then prevailing Rs 500 and Rs 1,000 notes, and the RBI had issued guidelines

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RBI to mandate interoperability among prepaid payments instruments: Shaktikanta Das

Making its displeasure on prepaid payments instruments issuers not adopting interoperability, the Reserve Bank on Wednesday said it will make it mandatory for such companies to make provisions for letting their customers transact with others after doing a full-KYC (know your customer). The central bank also doubled the maximum

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Home loan ticket size up to over Rs 26 lakh in 2020 on incentives, non-metro demand growth: Report

New Delhi: The average home loan ticket size increased to over Rs 26 lakh in 2020 despite the pandemic as Pradhan Mantri Awas Yojana (PMAY), fall in interest rates as well as lower registration costs in some circles evinced customers' interest in buying properties, according to a study by

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RBI broadens co-origination model for priority sector lending, all NBFCs can collaborate with banks

Mumbai: The Reserve Bank of India on Friday broadened the 'co-origination model' following which all non-bank lenders including housing finance companies will be allowed to collaborate with banks to undertake priority sector lending. Governor Shaktikanta Das said the newly christened "co-lending model" will improve the flow of credit to

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HDFC Bank adopts single team approach to drive innovations and execute multiple projects

Mumbai: With an aim to speed up product innovation, the largest private sector lender HDFC Bank has started creating dedicated teams by taking executives from various business functions to execute different projects. There are nearly a dozen such 'agile pod teams' having up to 40 members each drawn from across

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IRDAI to soon allow insurance companies to use video-based authentication modes

Mumbai: Insurance regulator IRDAI is set to soon allow insurance companies to use video-based authentication modes to vet customer credentials for onboarding, following the lead. In a letter to insurance companies, the Insurance Regulatory Development Authority of India (IRDAI) has detailed the specifications for such video-based identification process. “In order to

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Coronavirus: IndusInd Bank witnesses 3-fold rise in digital account openings

New Delhi: IndusInd Bank has witnessed a three-fold jump in digital account openings from pre-COVID-19 levels and plans more investments in the digital channel, a top company official said. Digital has been a saviour during the pandemic and it is not just a new normal, the private sector lender's

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