Bihar Chief Minister Nitish Kumar alleged on Saturday that banks did not implement demonetisation in a proper manner, and said people could not receive benefits to the desired extent owing to it. Addressing a quarterly review meeting of state-level bankers’ committee in Patna, Kumar also made an indirect reference to the PNB fraud, stating that big defaulters were able to obtain huge loans and escape from the country, while the […]

The government’s digital payments push, mainly online card payments through PoS machines, may leave already capital starved banks bleed by a whopping Rs 3,800 crore annually, warns a report. After the note-ban last November, the Narendra Modi government has pushed banks into deploying millions of points-of-sale (PoS) machines to encourage online payments. Since then, banks have more than doubled their PoS terminals. You can also look at https://www.checkissuing.com/blog/how-long-is-personal-check-good-for/ for an amazing […]

New Delhi: According to the new documents obtained from the finance ministry, twenty five nationalized banks have lost Rs 12, 620 crore in last four financial years.   The documents revealed that there have been 4,845 cases of bank frauds over this period of time. Out of Rs 12,620, Rs 2, 060.75 crore were lost by five banks headquartered in Karnataka alone. These banks are Canara Bank, Vijaya Bank, Corporation […]

  Banks in Russia, Japan, the US, and Europe have fallen victim to a massive, sophisticated malware hack, allowing the perpetrators to steal hundreds of millions of dollars since 2013. According to a Kaspersky Labs report provided to the New York Times, more than 100 banks in 30 nations have been affected by the breach, with upwards of $300 million stolen in the process. While no banks have come forward […]

A conduct checklist for banks and financial institutions in India that must be followed while dealing with loan applications. Banks and financial institutions touch almost everybody’s life in more than one way. From a simple savings account to credit cards, fixed deposits, personal loans, car loans, education loans, home loans etc. banks offer a host of services. With banks and lending institutions playing such a big role, do we know […]

Twenty years after he paid for the bombs which tore through Mumbai in 1993, killing 257 people, organised crime kingpin Dawood Ibrahim Kaskar’s cash has begun washing up on the shores of Nassau island – known for its perfect beaches, perfect weather, and zero-tax, high-secrecy banking. Ibrahim, a Firstpost investigation has found, has emerged as the principal provider of financial services to narcotics traffickers and jihadists across South Asia – a business […]