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Author Archives: Askbanking

PNB Scam – Govt dismisses Usha Ananthasubramanian from service at the last day of work


In a sudden move, Government of India has dismissed Allahabad Bank Managing Director Usha Ananthasubramanian from service. Ananthasubramanian is the former CEO & managing director of scam hit Punjab National Bank. She was sacked on last day at work before retirement. Though it was her last day at work, Ananthasubramanian will not enjoy any retirement benefits. She was sacked for her alleged involvement ...

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SBI Launches ‘MOPAD’, All in One PoS Acceptance Services

SBI-MOPAD- Multi Option Payment Acceptance Device

State Bank of India has launched all in one Pos terminal ‘MOPAD’ to accept any type of digital payments i.e. Credit Cards, Debit Cards, Bharat QR, UPI and SBI Buddy (eWallet). MOPAD stands for ‘Multi-option payment acceptance device‘. SBI insisted that MOPAD will change the existing digital payment services at merchant outlets and customer need not to carry any thing ...

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Syndicate Bank Posts Rs 1,282 Crore Loss

Public Sector Bank Syndicate Bank has posted a net loss of Rs. 1,282 crore for the quarter ended 30th June 2018 is due to higher provisioning, reduction in Treasury Income and MTM depreciation. he highlights of Syndicate BAnk quarter result for 30th June 2018. Highlights – Global Business is at Rs. 4,74,976 crore. – Domestic CASA share as on 30.06.2018 improved ...

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India Post Payments Bank (IPPB) Will Be Launched on August,21st

Indian Postal Payment Bank

India’s third payment bank i.e. India Post Payments Bank (IPPB) will be launched on August, 21st by Prime Minister Narendra Modi. IPPB will be the third payment bank after Airtel Payment Bank and PayTm Payment Bank. India Post Payments Bank (IPPB)  will have at least one branch in every district and focus on financial services in rural areas. There are 1.55 lacs ...

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Minimum Balance Charges Add Rs 5000 Crore to Bank’s Kitty

Minimum Balance Charges

Minimum Balance Charges penalty is the major source of income for the banks including Public Sector as well as Private Sector. 24 Banks in India has collected Rs 5000 crore as Minimum Balance Charges in the fiscal 2017-18 altogether. Calculate – Bank’s Monthly Average Balance Calculator (MAB) Largest lender State Bank of India (SBI) accounted for nearly half the amount collected ...

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Who has stored This Toll Free Number 1800-300-1947 in Your Phone Contact List ?

This is really a mystery which is not yet solved !!! If you verify your phone, you will find Toll free number 1800-300-1947 stored in the contact list of your mobile phone . Amazingly you have not added this number and UIDAI has made it clear that this number doesn’t belong to them. UIDAI said in a Twitter response that ...

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RBI Doesn’t Authorize Flipkart, Amazon etc Cash-on-delivery Deals


Reserve Bank of India has made it clear through reply of a Right to Information (RTI) query that Cash-on-delivery (CoD) by services Aggregators/payment intermediaries like Amazon and Flipkart are not authorized under Section 8 of the PSS (Payments and Settlements Systems) Act, 2007. are not authorized under the definition of payment system and system provider of the Payments and Settlements Systems Act, 2007.  ...

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PayTm Payments Bank Can’t Add Any New Customer From August, 1st, Know Why ?

paytm payment bank

Reserve Bank of India (RBI) has stopped Paytm payments bank from adding new customer since 1st August 2018. RBI has shown their dissatisfaction in the process approached by Paytm Payments Bank in acquiring new customer and process follows in adhering KYC norms. Paytm stopped enrolling new customers on 20 June following an audit by RBI. It is said that Paytm is modifying ...

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