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[7] [8] The worst hit banks included the State Bank of India , ICICI, HDFC, YES Bank and Axis Bank among others. The breach went undetected for 6 weeks and banks were alerted only after several international banks reported fraudulent use of cards in China and the United States while the customers were in India. SBI blocked and reissued 600,000 ...
Most people have linked their bank accounts to their Aadhaar identity due to the mandatory nature of the linkage as promoted by the government. The Aadhaar programme automatically enrolls the bank customer into a payment system wherein money can be withdrawn from their bank account using their Aadhaar card numbers and fingerprints.
The centre has declared that Aadhaar card will be mandatory for opening new bank accounts and for transactions above Rs. 50,000. All existing account holders will also have to submit their Aadhaar details by 31 December 2017, failing which accounts will be deemed invalid.
On 4 April 2022, HDFC Ltd announced that it would merge with HDFC Bank, marking India's largest-ever M&A deal. [23] [24] As part of the merger, HDFC Ltd would transfer its home loan portfolio to HDFC Bank, while the bank offered depositors of HDFC Ltd the choice of either withdrawing their money or renewing their deposits with the bank at the interest rate that the bank was then offering.
A large number of people remain without identity documents - poor people especially. In order to include them, identity requirements for Aadhaar have been reduced, however biometric facilities have been provided to reduce or eliminated duplication, so while it may be possible to obtain the card under a false name, it is less likely to be able to obtain another Aadhaar card under a different ...
HDFC held 26.14% of shares in HDFC Bank. HDFC Bank sources home loans for HDFC for a fee. [22] The key business areas of HDFC Bank were wholesale and retail banking and treasury operations. As of April 2023, its market capitalisation was ₹ 941,386 crore (US$110 billion), making it India's third largest publicly traded company. [23]
[3] [4] Guinness World Records recognises the achievements made under PMJDY, Guinness World Records Certificate says "The most bank accounts opened in 1 week as a part of financial inclusion campaign is 18,096,130 and was achieved by Banks in India from 23 to 29 August 2014". By 1 June 2016, over 22 crore (220 million) bank accounts were opened ...
National Payments Corporation of India (NPCI) is an Indian public sector company that operates retail payments and settlement systems in India. The organization is an initiative of the Reserve Bank of India (RBI) and the Indian Banks' Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust payment and settlement infrastructure in India.