Monthly Archives: September 2013

RBI mandates Bank liability for POS frauds

RBI had announced certain risk mitigation measures for Card Present transactions vide 22nd Sept 2011. Under this circular, it had been mandated that Banks should implement commercial readiness of acquiring infrastructure to support PIN based POS systems before June 30, … Continue reading

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Facebook Banking application from ICICI Bank

The ICICI Bank application on Face Book that facilitates money transfers to “Friends” is reported to have the following functionality. The application is called “Pockets” -Split & Share that allows customers to split and track expenses and share them with … Continue reading

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Discussion Paper on Future Banking Structure in India

RBI had released a discussion paper on the Indian Banking Structure-Future Way Ahead. Comments can be sent upto October 31 2013. Copy of the discussion paper is available here The discussion paper has many points of debate such as Small … Continue reading

Posted in Cyber Law | Leave a comment

RBI may very well disclose its favourite Bank Licensee

In a series of changes announced by RBI on the criteria for selecting Bank licensees, one more statement has come out today stating that “RBI may dilute the initial Capital Requirement to accommodate more licenses”. Report Coming after addition of … Continue reading

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Khayaal aapka..loss bhi aapka..laabh to hamara

In an interesting technology innovation, ICICI Bank has announced introduction of a “Face Book” application which can enable you transfer funds from your account to your face book friends. According to information available, in order to  make a payment to any … Continue reading

Posted in ITA 2008, RBI | 1 Comment

Revenge Porn Law Contemplated in California

A Bill to criminalize acts of vengence by ex-spouses/ex-boy/girl friends posting obscene pictures on the Internet is contemplated to be punished under a new law proposed in California. The proposed punishment is 6 months jail and/or US $1000 as fine. … Continue reading

Posted in Cyber Crime, ITA 2008 | Leave a comment