Mumbai: In a bid to promote digital transactions, the RBI on Friday said round-the-clock transactions will be allowed under the National Electronic Funds Transfer (NEFT) system from December 16. The 24X7 NEFT system will be available on all days of the year, including holidays, it added. NEFT transactions are settled in hourly batches. For weekdays, the batches are from 8am to 7pm. On first and third Saturdays, the settlement happens from 8 am to 1 pm. In a notification, the central bank said it has been decided that the facility on NEFT system shall be made available from December 16, 2019 on 24X7 basis. The first settlement will take place after 00:30 hours on December 16, 2019 (night of December 15, 2019). The RBI has asked the member banks to keep adequate liquidity in their current account with the regulator at all times to facilitate successful posting of NEFT batch settlements. NEFT transactions after usual banking hours are expected to be automated transactions initiated using … [Read more...] about NEFT transactions to be available 24×7 from Dec 16
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The menace of money swindlers who operate online, mostly targeting bank customers, is rife amid alerts and actions by authorities. The felons are more prepared and organised every time they re-surface. Recent cases reveal they are well equipped with inputs of the bank details of the victims they target. A phone call a customer received recently, began thus: "Your new card will have a photo chip and will carry a slew of bonus points for shopping." The caller, who identified herself as Rhea Sharna from SBI, Mumbai, further mentioned a range of other goodies the new card would offer. The caller then sought the card number for verification. As the SBI customer kept mum as he was quite wary about the ongoing banking frauds, the voice on the other end persisted by spelling almost all the digits of card including the CVV (Card Verification Value). He also received an SMS on his phone telling his card has been deactivated and that a new card with a photo chip has been dispatched through … [Read more...] about Online fraudsters dangle new debit card in bid to rip you off | Video
Biking Around What was Bajaj Auto first called? Take the Rediff Biz Quiz and find out how much you know about India and its two-wheeler companies.Biz Quiz is best viewed in Internet Explorer (IE) and Netscape above version 6.0. 1. Which company launched the first 100 cc bikes in India?Ind-Suzuki Hero Honda Bajaj Auto Wrong! Try again.. Wrong! The correct answer is Ind-Suzuki. Ind-Suzuki (later known as TVS-Suzuki) -- a joint venture of TVS Motor Company Limited and Suzuki Motor Corporation -- was launched in September 1984. It was the first company to launch 100 cc bikes in India. The two companies parted ways in September 2001. Correct!Ind-Suzuki (later known as TVS-Suzuki) -- a joint venture of TVS Motor Company Limited and Suzuki Motor Corporation -- was launched in September 1984. It was the first company to launch 100 cc bikes in India. The two companies parted ways in September 2001. 2. What was Bajaj Auto first called?Bajaj Trading Corporation Bajaj Trading Company Bachraj … [Read more...] about What was Bajaj Auto first called?
The banking, financial services and insurance sector was the most targeted by scamsters in 2016, says Indeevar Krishna, Head - Operations and Customer Service, Max Life Insurance Illustration: Dominic Xavier/Rediff.com With a steady rise of the internet business and digitisation in past one decade, cyber attacks have also grown to a mammoth level. The magnitude of the situation can be assessed with the findings of a recent report which identifies cyber attack threat as one of the top 10 global threats. Phishing continues to be one of the most common forms of cyber attack which hackers prefer to use across different industries. For those of you who are not aware, Phishing is the process of sending spurious mails to acquire customer’s details or luring them with unbelievable offers to encourage them to make online payment to fake accounts.The BFSI (banking, financial services and insurance) sector has been one of the top targets for phishing activities in recent times. This is … [Read more...] about Golden tips to avoid Phishing-Vishing
Netflix is all set to invest Rs 3,000 crore on producing exclusive content in India in the immediate future, Reed Hastings, CEO and founder of the streaming giant announced here on Friday. "We will invest Rs 3,000 crore on content in India this year and the next. The Internet does many things but it lets you tell good stories too, and there are so many great stories here in india," said Hastings, at a closed discussion with select mediapersons, he also confirmed that right now, India ranks among the top priorities for the brand as far as investment goes, along with nations like the US and Spain. For Netflix, the heavy investment seems to be a wager to ensure heavier returns, considering the OTT business wholly banks on subscription and no advertisement revenue. "We have no advertisement model, so its all about pleasing our members,"!Hastings explained, adding: "In a way it simplifies things for us not having advertisers. It lets us create content freely" Freedom of creativity of … [Read more...] about Netflix CEO Announces Rs 3,000 Crore Outlay For India