by AIP Online Bureau | Apr 25, 2024 | Banking & Bancassurance, Eco/Invest/Demography, Indian News, Non-Life, Risk Management, Technology
In a statement the ICICI Bank spokesperson said that it came to their notice that “about 17,000 new credit cards which were issued in the past few days were erroneously mapped in our digital channels to wrong users”. “No instance of misuse of a card...
by AIP Online Bureau | Mar 6, 2024 | Banking & Bancassurance, Indian News, Regulation, Risk Management, Technology
“On a review, it is observed that some arrangements existing between card networks and card issuers are not conducive to the availability of choice for customers,” the Reserve Bank of India (RBI) said in a circular Mumbai: India’s central bank on...
by AIP Online Bureau | Jul 16, 2023 | Banking & Bancassurance, Data, Eco/Invest/Demography, Risk Management
Indicating the rising stress level among individuals, a Transunion Cibil report last week said delinquencies in the credit card portfolio of banks have been rising and have jumped by 66 basis points to 2.94 per cent in March 2023. Credit card spending has hit a record...
by AIP Online Bureau | May 10, 2023 | Indian News, Life, Regulation
Welcoming the Irdai’s decision, Kamlesh Rao, MD and CEO, Aditya Birla Sun Life Insurance, said it helps ensure the best interests of policyholders and supports responsible financial planning. Mumbai: Regulator Irdai’s decision to bar repayment of loans...
by AIP Online Bureau | Oct 1, 2022 | Eco/Invest/Demography, Facts, Technology
A tokenised card transaction is considered safer as the actual card details are not shared with the merchant during the processing of the transaction. The Reserve Bank of India (RBI) has made it mandatory for all credit and debit card data used in online,...
