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BANKING: No charges on debit card transactions up to Rs 2,000: Finance Ministry …

No charges on debit card transactions up to Rs 2,000: Finance Ministry
Senior citizen loses Rs 10 lakh to hackers, court orders bank to refund amount
SC extends Aadhaar linking deadline to March 31, 2018
Government extends Aadhaar-bank a/c linking deadline to March 31, 2018
PM Modi attacks UPA government, big industry for banking sector crisis
More …

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No charges on debit card transactions up to Rs 2,000: Finance Ministry

Timesofindia.indiatimes.com
Jan 1, 2018
NEW DELHI: Customers will not have to pay any transaction charges for payments through debit card, BHIM app and other payment made for up to Rs 2,000 from today onwards.
Last month, Union Cabinet approved a proposal that government will bear the merchant discount rate (MDR) charges on transactions up to Rs 2,000 made through debit cards, BHIM UPI or Aadhaar-enabled payment systems to promote digital transactions. … 
More: RBI Circular dated 21.12.2017 – Prompt implementation of Governments’ instructions by agency banks >>> RBI Circulars 

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Senior citizen loses Rs 10 lakh to hackers, court orders bank to refund amount

Timesofindia.indiatimes.com
Dec 25, 2017
BENGALURU: An elderly Bengalurean who fell prey to hackers and lost Rs 10 lakh from his Axis Bank account was at his wit’s end when the bank refused to help him track the fraud. Finally, it took a city consumer court to cite an RBI mandate and come to the senior citizen’s rescue. On December 16, the court ordered the bank to fully refund the lost amount and also pay for the complainant’s court expenses. …

SC extends Aadhaar linking deadline to March 31, 2018

Timesofindia.indiatimes.com
Dec 15, 2017
NEW DELHI: Supreme Court today extended the Aadhaar linking deadline to March 31, 2018.
The Centre had yesterday offered to extend the deadline from December 31, 2017
The apex court is hearing a host of petitions challenging the Constitutional validity of the Aadhaar Act.
Yesterday, a five-judge Constitution bench headed by Chief Justice Dipak Misra said the final hearing on the petitions challenging the Aadhaar scheme itself would commence from January 17 next year. …

Government extends Aadhaar-bank a/c linking deadline to March 31, 2018

Timesofindia.indiatimes.com
Dec 14, 2017
NEW DELHI: The government on Wednesday extended the deadline for linking bank account with Aadhaar.
“It has been decided by the Government to notify 31st March, 2018 or six months from the date of commencement of bank account based relationship by the client, whichever is later, as the date of submission of Aadhaar number & PAN or Form 60 by the clients to the reporting entity,” a tweet by the Ministry of Finance said. …

PM Modi attacks UPA government, big industry for banking sector crisis

Timesofindia.indiatimes.com 
Dec 13, 2017
NEW DELHI: Prime Minister Narendra Modi on Wednesday accused the Congress-led UPA government and big industry for the banking sector crisis, even as he demanded to know if institutions like FICCI had raised their voice against the wrong-doings of the previous regime.
“When some in the government pressured the banks to give loans to a select few industrialists, where were organisations like FICCI then? Everybody knew what was happening was wrong,” PM Modi said in his address at FICCI’s 90th Annual General meeting in New Delhi. …

MORE: NPA crackdown: Read here for financial details of these 12 big loan defaulters likely to go for bankruptcy
Jun, 17 2017

 

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