-The Hindu Use OTPs only in the presence of customers: UIDAI The Unique Identification Authority of India (UIDAI) has asked banks to provide Aadhaar-based onetime password (OTP) for opening of bank accounts only in the presence of the customer, in a banking outlet. In a letter addressed to commercial banks, UIDAI Chief Executive Officer Ajay Bhushan Pandey cited instances of misuse of Aadhaar while opening accounts. The direction is a huge blow to the...
More »SEARCH RESULT
Total Matching Records found : 646
Farmers take back NiMo land
-PTI Mumbai: Farmers have "reclaimed" 125 acres in Maharashtra's Ahmednagar district, claiming that bank Fraud accused Nirav Modi had acquired their plots at prices below the market rate. A group of over 200 farmers, who arrived in bullock carts at Khandala in Karjat tehsil, symbolically reoccupied the land, ploughing a part of it using a tractor. The farmers said they would start cultivation on the entire tract soon. They said the plots had...
More »RBI governor Urjit Patel lists all the (other) reasons for PNB Fraud -Malvika Joshi
-Livemint.com RBI’s regulatory powers over PSU banks are weaker than those over the private sector banks, says Urjit Patel, putting the onus of tackling bank Frauds such as the one at PNB on the finance ministry Mumbai: Reserve Bank of India (RBI) governor Urjit Patel broke his silence on Wednesday on the PNB Fraud, putting up a blistering defence for the regulator and sought to put the onus on the finance ministry...
More »Economists Hit Out Against Move to Privatise Public Sector Banks
-TheCitizen.in Banking needs reforms not privatisation NEW DELHI: The scale of the recent bank scams and the potential losses faced by banks holding non-performing loans given to some large companies and individuals, has shocked all of us. However, we are concerned to note that this has become an excuse to demand the privatisation of publicly held banks. While it is true that the current scam involves Punjab National Bank, the second largest public sector...
More »We mean business, mostly -Pradeep Narayanan & Dheeraj
-The Hindu Business Line Lack of financial transparency and social inclusion is at the root of India’s lopsided growth story, finds the India Responsible Business Index ‘Sab kuchh dikhta hai (everything is visible)’, the tag line of the now controversial Rotomac pens seems to assume a sinister meaning in light of the recent financial Fraud involving owners Vikram and Rahul Kothari. The recently unearthed Nirav Modi scam, with no LoU [Letter of Understanding]...
More »
