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On 4 April 2022, HDFC Ltd announced that it would merge with HDFC Bank, marking India's largest-ever M&A deal. [24] [25] 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.
From 15 March 2022, the government removed the need for debit cards for UPI registration. [36] NPCI is planning to expand AutoPay to international markets and operationalize real-time payment dispute resolution mechanisms covering 90% of the complaints by September 2022. [37] From 8 June 2022, RBI allowed linking RuPay credit cards with UPI.
The term 'online' became popular in the late 1980s and referred to the use of a terminal, keyboard, and TV or monitor to access the banking system using a phone line. 'Home banking' can also refer to the use of a numeric keypad to send tones down a phone line with instructions to the bank.
An electronic identification ("eID") is a digital solution for proof of identity of citizens or organizations.They can be used to view to access benefits or services provided by government authorities, banks or other companies, for mobile payments, etc. Apart from online authentication and login, many electronic identity services also give users the option to sign electronic documents with a ...
The average credit card interest rate is 21.76%, according to the Federal Reserve. If you charged a $1,000 emergency to a card with this rate and only made the minimum payments, it could take ...
All merchant discount rate (MDR) charges were eliminated for transactions done using Rupay debit cards from 1 January 2020. All Indian companies with an annual turnover exceeding ₹ 50 crore (US$6.0 million) are required to offer RuPay debit card and Unified Payments Interface as a payment option to their customers. [8] [9]
A huge data breach on debit cards issued by various Indian banks was reported in October 2016. It was estimated 3.2 million debit cards were compromised. Major Indian banks- SBI, HDFC Bank, ICICI, Yes Bank and Axis Bank were among the worst hit. [79] Many users reported unauthorised use of their cards in locations in China. This resulted in one ...
2005 – Launched Debit Card 2006 – Launched VISA Card, Retail Sale of Gold and Non-Life Joint Insurance Bank reached INR 1 lac crore mark in Total Business 2006 – 07 Net Profit reached INR 1000 Cr.(US$229.78 Mn) [1USD= Rs. 43.5200] Bharat Overseas Bank Ltd. Was merged with IOB and First Offsite ATM at Kamatchi Hospital, Chennai