Monthly Archives: April 2013

Workshop on Safe E Banking

Posted on April 30, 2013 by Vijayashankar Na

A day long workshop on Safe E Banking is underway at Reserve Bank of India, Bangalore. Mr G.Gopalakrishna, The Regional Director of RBI, Mrs Uma Shankar, Regional Director of RBI at Bangalore has inaugurated the workshop. ED is delivering the … Continue reading →

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Migrating to Adaptive Authentication

Posted on April 29, 2013 by Vijayashankar Na

Banks in India have been traditionally using the “Legally Non Compliant”, “Password based Authentication” for their E Banking requirements. As a result there are frequent customer-Bank conflicts where the customer demands that Bank should undertake the liability on account of … Continue reading →

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Banking Ombudsman Scheme under Review

Posted on April 29, 2013 by Vijayashankar Na

As one of the follow up measures of Damodaran Committee report on Customer Service, RBI has set up a committee to review the Banking Ombudsman scheme. (Refer details here). Members of the public who have their views on the functioning … Continue reading →

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Banks can be fined upto Rs 1 crore for violating RBI regulation

Posted on April 28, 2013 by Vijayashankar Na

The Banking Regulation Act amendment Act 2012 which was recently passed by the Parliament has now become effective.(See PIB Press Release).  It amends several provisions of the Banking Regulation Act 1949. Some of the amendments are directed towards new Branch … Continue reading →

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Can Minors open Facebook account?

Posted on April 26, 2013 by Vijayashankar Na

For the regular users of Facebook or Google, the question whether minors can open an account appears funny. But this is precisely what the Delhi High Court has asked the Indian Government in a PIL. (Details here). It would be … Continue reading →

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46% of Bank Customers donot trust Internet Banking System! (?)

Posted on April 25, 2013 by Vijayashankar Na

An interesting survey conducted in three countries namely US,UK and Germany have indicated that 46% of the consumers donot trust websites which rely only on “Passwords” for authentication. (Refer findings here) If the findings of this survey is extended to … Continue reading →

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