Online Fund Transfers

Immediate Payment Service: All that's to know about instant funds transfer

Transfer facility is available 24/7 accounts holder of any bank, helps in digitisation of payments

Over 20K people in Kerala lost Rs 201 cr to online frauds in 2023: Police

Highlighting the menace posed by online financial frauds, Kerala Police has said that last year alone it resulted in a total loss of around Rs 201 crore to 23,753 people in the state. Police said that its Cyber Wing was able to recover 20 per cent of this amount and also blocked 5,107 bank accounts, 3,289 mobile numbers, 239 social media accounts and 945 websites that were used to commit the frauds. In a release issued by the State Police Media Centre, the police urged people to report online financial frauds within two hours of the incident to 1930 number. This would increase the chances of recovering the amount lost by the victim of the fraud, it said. "Delay in making complaints is a major problem faced by Kerala Police. If the information is reported to the cyber helpline number 1930 within two hours of the loss of money, the chances of recovering the money are very high. "But often the police receive complaints after 10 days of depositing the money. This gives the fraudsters .

India and Indonesia plan local currency trade, fast payments links

The proposed agreements with Indonesia comes as India inked similar pacts with the United Arab Emirates over the weekend, which will see more trades done in rupees and dirhams

India, Singapore link systems for real-time cross-border fund transfers

The India-Singapore payment connection is part of the trend in Asia where instantaneous, cross-border fund transfers via mobile phones are happening

Banks in talks with Singapore's DBS to begin real-time remittance system

At least five Indian banks, including the State Bank of India and ICICI Bank, are in discussions with Singapore's DBS Bank to start a real-time remittance system using UPI as the backbone

TMS Ep127: Price rise, Colombo Port City, markets, IMPS

Will Russia Ukraine war driving up prices of everything? Can Colombo Port City be Sri Lanka's economic game changer? Hawkish Fed to cast a shadow on markets this week? What is IMPS? All answers here

Fraud charges: Dubai-based billionaire B R Shetty to drag BoB to court

Shetty is currently in India and trying to return to Dubai to take care of his businesses, but a travel ban issued by BoB has put paid to his plans.

Digital booking, fitness certificate a new norm as travel bodies issue SOPs

No clarity yet on when countries will open borders for Indian tourists. On the domestic side, most of travel happening now is of essential and emergency nature

India joins elite club to enable free 24x7 NEFT funds transfer facility

Freeing up such transactions were to give further impetus for such digital retail payments.

IMPS fund transfers double from previous year to Rs 3.23 trn in Apr-Jun qtr

As per NPCI data, the number of transactions through IMPS crossed 100 million mark in March 2018 and touched a high of 120.4 million in June