From 1st December 2020, cash withdrawals at ATMs will require an OTP for transactions happening via PNB. The Punjab National Bank (PNB) has introduced the OTP-based cash withdrawal system to minimise unauthorised or fraudulent transactions at ATMs. This system has been launched after observing the increase in the cases of unauthorised withdrawals on accounts of…
The Finance Minister of India Nirmala Sitharaman has directed all the banks to ensure that the bank accounts are linked with Aadhaar Card ideally by December 2020, if not, at least by 31st March 2021 at the virtual 73rd Annual General Meeting of the Indian Banks Association (IBA) held on 10th November 2020. The objective…
Digital means of banking are improving every day with newer features and services. Contributing to the growth of internet banking, Yes Bank has introduced ‘Yes Online’, a new and improved platform with intelligent search and quick-action link tabs to bill payment, fund transfer, bank account statement check, and other popular services. Yes Online furnishes a…
On 5th November 2020, ICICI Bank Financial Institution launched a special banking programme for millennial customers called ‘ICICI Bank MINE’. ICICI MINE is India’s first comprehensive banking platform for customers from the age of 18 years to 35 years. Features of ICICI MINE Account Any person between the age of 18 to 35 years is…
Starting from 1st November, customers in some banks now have to pay convenience fees for deposit and withdrawal of money beyond the prescribed limit. Names of banks such as ICICI, Bank of Baroda, Axis Bank, PNB, and Central Bank have emerged in the reports. Even though banks are yet to take a final call on…
Besides high returns, the safety of investments is what makes a scheme attractive to investors. In both aspects, PPF remains an effective long-term investment scheme. As it is a government-backed scheme, PPF offers safety along with appealing returns. Being a savings scheme exempt from taxes, PPF is especially suitable for self-employed professionals and small businesses which…
We, Indians, are averse to debt. Therefore, whenever we have surplus funds, we use it to prepay our loans. However, a home loan should not be seen under the same lens as other lending products such as car loan and personal loan. Unlike other loan products, home loan offers a number of benefits, which might…
On 15th October 2020, ICICI Bank added new features in its WhatsApp Banking services using which customers can create fixed deposits, pay utility bills, and access trading finance details instantly. The primary objective of launching these services on WhatsApp is to make banking even more convenient and accessible for the customers. This service is available…
