These actions have been taken based on concerns arising out of RBI's IT examination of the bank for 2022 and 2023 and the failure on part of the bank
So far, e-commerce companies used such tactics, but now it’s also happening in the realm of online banking and other financial services
Hidden charges, which can include annual credit card fee, charges for receiving SMS updates. Out of 11,390 responses received, 36% indicated frequent
While using public internet, never log on to your bank account or make financial transactions.
Senior citizens are also jumping into the digital bandwagon where security is a big concern
The value of online frauds in India reached Rs 195 crore in FY20 from Rs 71 crore in FY19 according to RBI.
The bank advised its customers to file their complaints/grievances only through its official channels
Neo banks are basically digital banks that don’t have any branch at all. They exist online and deal through online medium.
An interest certificate has the exact amount of interest that you receive in a financial year for all your FDs and savings accounts
While the progress in position is significant, the point to note is that it is a relative performance and fraudsters are sharpening their skills