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The President, Shri Pranab Mukherjee presenting the “Devi Ahilyabai Holkar Award” to Konoklota Mahila Urban Co-Operative Bank, Assam, at the presentation of Stree Shakti Puraskar 2015, on the occasion of the International Women’s Day, at Rashtrapati Bhavan, in New Delhi on March 08, 2016.
The President, Shri Pranab Mukherjee presenting the “Devi Ahilyabai Holkar Award” to Konoklota Mahila Urban Co-Operative Bank, Assam, at the presentation of Stree Shakti Puraskar 2015, on the occasion of the International Women’s Day, at Rashtrapati Bhavan, in New Delhi on March 08, 2016. (Image Courtesy: pib website)

BANKING: RBI plans to cap customer liability in online frauds …

BANKING NEWS

RBI plans to cap customer liability in online frauds
Runway for payments banks
RBI working on regulations to curb frauds in e-transactions, says Finance Ministry
RBI tightens provisioning norms for bank frauds
Guidelines for on-tap banking shortly: Raghuram Rajan
More …

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RBI plans to cap customer liability in online frauds

Timesofindia.indiatimes.com
May 24, 2016
Mumbai: The RBI is examining a proposal to cap customers’ liability in the event of an online fraud. The central bank also plans to impose “severe” penalties on banks for mis-selling third-party products such as insurance. …

Runway for payments banks

Business-standard.com 
Payments banks need to think digital and look at deploying emerging technologies to claim competitive advantage
May 16, 2016
The list of 11 new entities, which received an in-principle approval from the Reserve Bank of India last August to set up a new category of banks called payments banks, includes both corporate and non-corporate names. …

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RBI working on regulations to curb frauds in e-transactions, says Finance Ministry

He said the Banking Codes and Standards Board of India (BCSBI) had in 2014 come out with a recommendation of limiting the customer liabilities in case of frauds taking place through electronic channels.
Indianexpress.com 

May 03, 2016
The RBI is working to put in place a regulatory framework to address customer grievance and liability issues arising out of frauds in electronic transactions, Government said on Tuesday. …

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RBI tightens provisioning norms for bank frauds   

Timesofindia.indiatimes.com 
Apr 18, 2016
MUMBAI: Tightening disclosure norms, RBI has asked banks to disclose fraud cases and make provisions for them not exceeding four quarters from the date during which it has been detected. …

Guidelines for on-tap banking shortly: Raghuram Rajan   

Economictimes.indiatimes.com 
Apr 05, 2016
Mumbai: The banking system moved a step closer to on-tap licensing with the Reserve Bank of India today saying that it will shortly announce guidelines for the same. …

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In a first, DCB Bank starts Aadhaar-based ATMs   

Timesofindia.indiatimes.com
Apr 3, 2016
MUMBAI: In a first for any domestic bank, small-sized lender DCB Bank has started an Aadhaar-based ATM usage facility wherein a customer can transact using his biometric details instead of the PIN. …

Card frauds dupe IAS woman

Timesofindia.indiatimes.com
Mar 31, 2016
New Delhi: A senior woman IAS officer was among a group of people targeted by cyber crooks who stole their credit card information and made fraudulent transactions.
The officer complained to the bank that she received a call from someone posing as the bank’s representative. He convinced her to reveal her card details and one-time password on the pretext of verifying details. …

ATM card exchanged on sly, couple loses Rs 45,000   

Timesofindia.indiatimes.com
Mar 8, 2016
PANCHKULA: A youth allegedly duped a 25-year-old woman of Rs 45,000 after exchanging his ATM card with hers in Pinjore on Monday morning. …

Fake bank callers dial a/c fraud (Representational Image: Pexels.com)
Fake bank callers dial a/c fraud (Representational Image: Pexels.com)

Fake bank callers dial a/c fraud

Timesofindia.indiatimes.com
Nov 17, 2015
Chandigarh: The next time you receive a call from a supposed bank official seeking details of your account and ATM card, better stay mum. Or, rather dial the cops soon after. Swindlers posing as bankers and technical staff members are obtaining crucial details from gullible residents and withdrawing money from bank accounts. In just 10 months, 83 such cases were reported from the city, confounding the police. …

Conmen used 580 duplicate cards to dupe bank of Rs 2.84cr

Timesofindia.indiatimes.com
Oct 6, 2015
MUMBAI: The Kotak Mahindra Bank recently detected a massive fraud in which 1,730 transactions worth Rs 2.84 crore were carried out using credit cards it had never issued. The cards, 580 in all, were fabricated by the fraudsters and used for online shopping and making payments in seven countries — Canada, USA, UK, Germany, Brazil, France and India – between July 2 and September 10. …

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