Category Archives: Bank

RBI limits Customer’s Loss on Phishing

Posted on June 25, 2014 by Vijayashankar Na

In an excellent but long awaited move, RBI has directed Banks that the liability of customers on “Phishing” loss should be limited to Rs 10000/- See Report The new Banking Service code of ( Banking Codes and Standard Board of India … Continue reading →

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No bank has proper Information Security Guidelines

Posted on May 25, 2014 by Vijayashankar Na

An RTI query filed by Nagpur based NGO Cyber Awareness Organization (CAO) recently revealed that none of the banks in the country had drafted information security guidelines which are mandatory as per RBI’s guideline on electronic banking.  Speaking to the … Continue reading →

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Does Nachiket Mor Committee report impress to deceive?

Posted on January 11, 2014 by Vijayashankar Na

One of the first initiatives that the new RBI Governor Mr Raghuram Rajan took after assuming office a few months back was the formation of the Nachiket Mor committee on “Comprehensive Financial Services for Small Businesses and Low Income Households”. … Continue reading →

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Abolition of Personal Income Tax

Posted on January 10, 2014 by Vijayashankar Na

A discussion has now ensued in India about the possibility of personal income tax being completely abolished if BJP comes to power. This proposal though is in the initial stage of discussion and yet to be adopted into the manifesto … Continue reading →

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Electronic Frauds in Banks.. New guidelines to benefit Customers

Posted on January 1, 2014 by Vijayashankar Na

The year 2014 has started with some good news for Bank fraud vicitms. According to today’s Economic Times, it is stated that the new code released by the Banking Codes and Standards Board of India (BCSBI) states that “Customers will … Continue reading →

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More Credit Card frauds in store

Posted on December 19, 2013 by Vijayashankar Na

Recently a fraud of Rs 63 lakhs involving  gross negligence by Bank employees not ruling out their involvement. It is said that the Bank believed that the customer had a sore throat and executed large transactions including closing of FDs … Continue reading →

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