Search Results for: bank

Let’s tighten our seat belts and let Mr Narendra Modi shake up and clean the Indian Banking system

Posted on February 18, 2018 by Vijayashankar Na

After the surfacing of the Nirav Modi-Mehul Chokshi scam in PNB, media is on its own interpretation some of which are politically motivated and some are born out of lack of information. According to NDTV and some other media, the … Continue reading →

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AIRTEL Sweeps awards from DSCI…while the AIRTEL Bank CEO resigns….

Posted on December 24, 2017 by Vijayashankar Na

AIRTEL is no doubt the leading mobile service provider in India. However when Airtel swept several awards in the recent DSCI Excellence Awards 2017, several eyebrows were raised. It was clear that the process used by DSCI to confer the … Continue reading →

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Limited Liability on Electronic Banking Frauds also extends to Cooperative Banks

Posted on December 18, 2017 by Vijayashankar Na

On July 6, 2017, RBI released the “Customer Protection-Limiting Liability of Customers in Unauthorized Electronic Banking Transactions”. The circular indicated that a customer is entitled to “Zero Liability” in case of loss arising out of frauds in E banking in … Continue reading →

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Complaint to be filed against State Bank of India Aizwal Branch and IIT Powai Branch

Posted on October 22, 2017 by Vijayashankar Na

It was brought to my attention yesterday that an IT professional in Bangalore had ordered a Mac Air Book online and made payments to two individuals having accounts in SBI Aizwal and SBI , IIT Powai branches. It appears from the … Continue reading →

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Banks are silent on Zero Liability on Frauds.. What is RBI doing?

Posted on August 11, 2017 by Vijayashankar Na

On July 6th 2017, RBI after 10 months of thinking, released the official confirmation of the “Zero Liability Circular”.  Naavi.org had urged the banks to go for a “Competitive Compliance Drive” and initiate measures to implement the provisions of the circular. … Continue reading →

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It is not Banks but the Customers who have lost Rs 88,553 an hour…

Posted on July 25, 2017 by Vijayashankar Na

Times of India carried a report today headlined ‘Banks lost Rs 88553 an hour to Cybercrime in last 3 years”. According to the report, the total money lost from April 1, 2014 to June 30, 2017 due to Cyber Crime … Continue reading →

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