6 lakh SBI debit cards recalled; HDFC, Axis, ICICI, Yes Bank cards also compromised
Deepak Kumar 6 lakh SBI (State Bank of India) debit cards have been blocked due to a suspected security breach in their financial data . Termed to be one of the largest debit card replacement in the country, the country’s nationalised bank and other major private banks are taking all steps to stem any potential trouble. The steps taken by banks include asking their customers to change their PIN numbers of their debit-cum-ATM cards. This got escalated to the level wherein banks have changed cards when customers did not comply with changing their PIN numbers, a bank official revealed. HDFC has asked its customers not use the ATM’s of other banks. Apparently card network companies like NPCI, MasterCard and Visa had sent ...
SEBI initiates auction process for PACL assets
The Dollar Business Bureau Market regulator Securities and Exchange Board of India (SEBI) has initiated a sale process for the attached assets of the PACL group. It has also announced that an e-auction will be held for some of its properties on July 5. The sale has been initiated with an aim to recover funds totaling around Rs.60,000 crore in the PACL case. Two properties of PACL, a residential plot in Nangloi and an office property in the central Connaught Place will be put on e-auction on July 5, at reserve prices of Rs.90 lakh and Rs.29.59 crore respectively. The bidders, who are interested, can inspect the property on June 9. They will have to deposit 10% of the reserve price for confirming the ...
Bankers set to deliver rate cuts; SBI takes lead
Source: PTI Within couple of hours of rate cut by the Reserve Bank, country's largest lender SBI slashed its lending rate by 0.40%, while the largest private sector lender ICICI Bank hinted at cutting its base rate by at least 0.25%. “Clearly, interest rates will come down, base rates will come down. A large part of the cut will get transmitted. When I say a large part of the thing (repo rate) will get transmitted, it should mean more than half,” ICICI Bank's managing director and chief executive Chanda Kochhar told reporters at the RBI headquarters. SBI chairman Arundhati Bhattacharya was not present at the customary post-policy press conference organised by banking industry lobby grouping IBA, but her bank announced a ...
