Page 3 - Bank Accounts
Major shift to digital space demands data security, cyber insurance
The biggest nightmare for an individual in this digital age is to see an unauthorised debit in his bank account and realise he has been a victim of an online fraud
 "Major shift to digital space demands data security, cyber insurance")
Bank liable for unauthorised online transaction
The National Commission observed that there was a security breach of the bank's net banking system
YES Bank crisis: Paying loan? Shift ECS mandate to a nationalised bank
If you are paying a personal/home loan or doing SIPs, shift ECS mandate to another bank. It just might make sense to have one account with a nationalised bank
 "YES Bank crisis: Paying loan? Shift ECS mandate to a nationalised bank")
Growth in loan disbursals lures job-seekers to Bihar's micro credit sector
Loans have become an important line of business in north Bihar.
 "Growth in loan disbursals lures job-seekers to Bihar's micro credit sector")
Soon, you will be charged even for failed transactions at Axis Bank ATMs
The proposed fee will be Rs 25 per transaction; the bank has uploaded a notice on its website listing this and three other charges coming into effect from 1 April 2020
 "Soon, you will be charged even for failed transactions at Axis Bank ATMs")
Bank savings account, fixed deposit or debt fund - the better option?
The savings bank rate and the debt fund rate of return are variable and market-driven
 "Bank savings account, fixed deposit or debt fund - the better option?")
Have money in inactive bank accounts? Here's how you can claim them back
Ideally, you have only three accounts. One for salary and other two for investment and expenses
 "Have money in inactive bank accounts? Here's how you can claim them back")
How vulnerable are bank ATMs?
Many customers are careless; they use overly simple and non-random PINs (such as date of birth), and do not change PINs periodically, compromising security
 "How vulnerable are bank ATMs?")
Sebi bans three persons for 7 years for creating sham identities
Besides, they have been asked to disgorge unlawful gain of about Rs 7 lakh, including interest. Babulal M Dugar, Manoj Kumar Dugar, and Vinod Kumar Dugar are the three persons facing ban.
 "Sebi bans three persons for 7 years for creating sham identities")
Registering a company? Starting a business gets just a little bit easier
Experts suggested the MCA give access to the data and documents filed by companies to banks
 "Registering a company? Starting a business gets just a little bit easier")
No need to declare religion for opening bank accounts: Rajiv Kumar
The clarification comes after a news report suggested that Indian banks may ask depositors and customers to list their religion.
 "No need to declare religion for opening bank accounts: Rajiv Kumar")
Small finance banks lag in opening Jan Dhan Yojana accounts in Odisha
This is despite their strong branch network and plans to expand retail banking operations; PSB lead race, accounting for 70% of such accounts opened in the state
 "Small finance banks lag in opening Jan Dhan Yojana accounts in Odisha")
Delhi govt organises camps for opening bank accounts of labourers
Revenue Dept in collaboration with Labour Department and leading banks organised camps where accounts of workers were opened
 "Delhi govt organises camps for opening bank accounts of labourers")
EPFO seals bank a/c of over 600 firms sealed for irregularities
During this period, 14 employees who indulged in wrong- doings in depositing their employees' PF were also arrested
 "EPFO seals bank a/c of over 600 firms sealed for irregularities")
