Banking Apps
RBI removes restrictions on BoB app, allows new customer enrollment
Bank will now on-board customers through mobile app
 "RBI removes restrictions on BoB app, allows new customer enrollment")
UCO Bank recovers 79% of wrongly credited amount after technical glitch
UCO Bank on Thursday said the bank has retained or recovered Rs 649 crore or 79 per cent of the amount erroneously credited to some accounts of the bank via Immediate Payment Service (IMPS). By taking various proactive steps, the bank blocked the recipients' accounts and has been able to recover Rs 649 crore out of Rs 820 crore which is about 79 per cent of the amount, UCO Bank said in a regulatory filing. The state-owned bank is yet to clarify whether this technical glitch was due to human error or a hacking attempt. It is to be noted that the IMPS platform is operated by National Payments Corporation of India (NPCI). The bank has initiated requisite actions to recover the balance amount of Rs 171 crore, it said, adding, the matter has also been reported to the law enforcement agencies for necessary action. Uco Bank shares dropped by 1.1 per cent to Rs 39.39 on BSE in afternoon trade.
 "UCO Bank recovers 79% of wrongly credited amount after technical glitch")
Bob World curbs not denting business, says MD & CEO Debdatta Chand
Bank of Baroda (BoB) net profit rose by 28.4 per cent on a year-on-year (Y-o-Y) basis to Rs 4,253 crore in Q2 FY24
 "Bob World curbs not denting business, says MD & CEO Debdatta Chand")
Public sector lender BoB's head of digital lending Akhil Handa quits
BOB, in a late-night exchange filing, said Kadgatoor Sheetal Venkatesmurt will handle this charge in addition to her role as head of digital channels and operations
RBI ban on BOB to source new customers via mobile app may hit its business
This development led to a 3.27 per cent drop in its stock price, closing at Rs 207.2 per share on BSE
 "RBI ban on BOB to source new customers via mobile app may hit its business")
IndusInd Bank launches digital banking app, aims 10 mn customers in 3 years
The app boasts a transparent rewards programme, wherein users can select their favourite brands from leading e-commerce platforms
Digital lending apps: RBI received 13,000 complaints against banks, NBFCs
The grievances, filed under RBI's integrated ombudsman scheme of 2021 between April 2021 and Nov 2022, also cite harassment by recovery agents
 "Digital lending apps: RBI received 13,000 complaints against banks, NBFCs")
DBS says banking services back to normal after 2-day outage, systems secure
The bank's services, including its payment app, were disrupted on Tuesday and Wednesday.
 "DBS says banking services back to normal after 2-day outage, systems secure")
In the digital cross-hair: CTOs will have to be all-rounder for banks
Banks will have to do far more to meld technology with their business, with CTOs playing a pivotal role
 "In the digital cross-hair: CTOs will have to be all-rounder for banks")
Wherever we've seen unlocking, we've seen a revival in demand: SBI Chairman
Inflation rate in excess of 7% is essentially attributed to supply-side constraints, says chairman
 "Wherever we've seen unlocking, we've seen a revival in demand: SBI Chairman")
Customer confidence in new-age banking system is increasing: Bain report
A fallout of that is the leakage of business from retail banks to these new age players, which are becoming bigger with each passing year
 "Customer confidence in new-age banking system is increasing: Bain report")
Beware of fake banking apps! Your data may be at risk, says report
The report further said that the deceptive malware in these apps may have stolen thousands of customers' account and credit card details
 "Beware of fake banking apps! Your data may be at risk, says report")
Going digital: Banking apps still preferred choice over mobile wallets
This applies more to large value transactions, say experts
 "Going digital: Banking apps still preferred choice over mobile wallets")
