Indian Oil Corp (IOC) signed first term contract for importing Russian crude oil as the third largest energy consumer of the world looks to diversify its sources away from the volatile Middle East.
Frauds involving ₹1,13,374 crore were announced by banks and select financial institutions in the first half of the current financial year said Sitharaman.
Finance Minister Nirmala Sitharaman in her Budget speech declared to increase the bank deposit insurance in scheduled commercial banks to Rs 5 lakh per depositor from the present Rs 1 lakh.
India will host the on the 75th anniversary of G-20 Presidency in 2022 and Rs 100 crore has been shared out for this purpose said Finance Minister Nirmala Sitharaman.
GST revenues during the month of January from domestic transactions showed a hike of 12% over the revenue during the month last year, reported by Finance Ministry .
Bihar’s Home Guard wing of armed police force, in association with the Reserve Bank of India (RBI), jointly constituted a Special Security Team with 440 specially trained Home Guard soldier in Bihar.
Indian Bank has launched two tailor-made credit products for the well-being of the textile sector. The products are Corporate Loan and Ind Surya Shakti/ Indian Bank Solar
ICICI Bank Limited has introduced iBox, a unique self-service delivery facility that permits its customers to collect their deliverables such as different cards, cheque book and returned-cheques.
Paytm Payments Bank Ltd (PPBL) has added a new feature of artificial intelligence that analyses “rogue” apps on user devices that may trigger fraudulent transactions and advises users to uninstall such apps. No transactions will be possible until the user uninstalls that fraudulent app.
The bank has a dedicated team of over 200 cybersecurity experts to ensure round-the-clock security of every user transaction. The teams closely work with all State and Central police forces and cyber cells as well as telecom companies to detect, prevent and report fraudulent transactions for immediate action.
As per the Reserve Bank of India, Urban Co-operative Banks have reported nearly 1,000 cases of fraud worth more than Rs. 220 crore in the last five fiscals. A total of 181 fraud cases, involving Rs 7 crore were noticed during 2018-19. A total of 99 cases involving Rs 9 crore were reported in 2017-18, while 27 such cases involving Rs 9.3 crore during 2016-17. 187 cases of fraud, involving Rs 3 crore were reported in 2015-16 and 478 such cases involving fraud of Rs 19.8 crore during 2014-15.