Wednesday, October 26, 2016

Reserve Bank of India Public Notice on Circulation of Counterfeit (fake) Currency Notes

          Reserve Bank of India today reiterated the menace of Counterfeit (fake) Currency Notes, through a Public Notice.

          The highlights of the Public Notice are as under:

01)  Unscrupulous elements are putting into circulation Fake Indian Currency Notes of higher denominations in the course of normal transactions, taking advantage of the gullible and unsuspecting nature of some members of the public.

02) The  public are advised to subject notes that are accepted to careful scrutiny. Genuine Indian Currency Notes of higher denominations have strong counterfeit resistant security features. The fake notes can be identified on closer inspection.

03) Detailed information on the security features on the banknotes are available on Reserve Bank of India website,, and the public may familiarize themselves with these features and educate others also.

04) Members of public are requested to make it a habit of looking at the notes before accepting them in the usual course of daily transactions and help arrest the counterfeiting of Indian banknotes.

05) Reserve Bank would like to remind all stakeholders that counterfeiting of notes, or possession, exchange, acceptance, putting into circulation of counterfeit notes or in any way abetting such actions are offences under the Indian Penal Code and such actions are liable to be punished stringently.

06) Reserve Bank is considering additional identity requirements for the use of Indian banknotes in large numbers.

07) Reserve Bank appeals to the members of the public for cooperation with the Reserve Bank and public authorities in containing the menace of circulation of counterfeit notes.

08) The notice has been issued by the Reserve Bank to advise caution and in the larger public interest.

The website @ contains

01)  Short video film highlighting the safety features in Indian Bank Notes
02) Frequently Asked Questions
03) Know your Bank Notes section

Monday, October 17, 2016

Have you the Guts to participate in UBER India Starup pitch and win?

          An interesting Post caught my attention on UBER India website. The headline of the Post is “Start-ups ride on UberPitch”.

          Pitching can be made by both UBER users and Non-Uber Users residing in 28 Indian cities. The 28 cities definition has been arrived basis the cities in which UBER operates.

 Interested persons have to answer 6 questions on a dedicated website and hit the ‘Submit’, button.

          Pitching can be done upto November 1st 2016. Once you submit your idea, keep checking your mailbox. Uber will inform the shortlisted riders, by November 6, 2016 via email on the further process.

          Cool, isn’t it. So go ahead and do the pitching today itself. Pitch audacious ideas, stretch beyond the possible, dig deep into your sub conscious.
          I have pitched the following Idea:

          UBER India Pitch Idea::::---

A Pan India Reward Card.  Reward Points to be added as and when the user
01)  Executes an Electronic Transaction
02) Uses a Public Convenience
03) Disposes Garbage in designated spots

04) Contributes to Swach Bharat

Sunday, October 16, 2016

State Bank of India Video Bank Account Statement

          Bank account transactions details are normally provided to bank customers through a Pass Book or a printed Statement of Account. Customers can also access their banks account transactions through alternate channels i.e Mobile Banking, SMS Banking, Net Banking, Missed Call Banking etc.

          It was a challenge for Visually Impaired customers to have a self analysis of their bank transactions and have to depend on support persons
          Realising this, State Bank of India explored the option of Video Bank Account Statement.  

          A couple of months back, based on feedback received from its customers, State Bank of India unveiled the Video Bank Account Statement.   

          In the initial phase, the Video Bank Account Statement is available to HNIs(High Networth), Wealth Management and Visually Impaired customers.

          The requirement for bank customers to avail this is simple. The Account Holders should request their base branch to activate the Statement of Account facility at the Account Level in the Banks CBS (Core Banking Solution).

          The account should be flagged as HNIs(High Networth) or  Wealth Management or Visually Impaired customers.

          There are 3 FAQ’s which highlight the benefits of the Video Bank Account Statement on the banks website.

          State Bank of India has over 14,000 Branches spread all over India, and a branch of SBI or its Associate Banks can be found even in remote areas.


Saturday, September 17, 2016

BOB *99# USSD Banking APP

              Bank of Baroda with the Tagline of India’s International Bank has unveiled *99# USSD Banking APP for its customers.

              This *99# USSD Banking APP rides on National Payments Corporation of India’s (NPCI) USSD Banking channel.

              Bank of Baroda has a physical presence through 5,370+ branches spread through length and breadth of India.

              The branches are concentrated in western part of India, as the foundation of the Bank was laid in 1908 in Baroda.

              Out of the 5,370 plus branches, 63% of its branches are in Semi-Urban and Rural areas. If Bank of Baroda can find a way to subsidise the Session charges of Telcos in USSD, it can see high transaction volumes through this APP.

              The APP requires Internet availability to download. Once the APP is installed, no internet is required. The banking transactions are through USSD sessions.

Basic Banking services like Balance Enquiry, Mini statement, Fund transfer and more can be accessed using the application.

              As on date, there is no dedicated page on the banks website for *99# USSD Banking APP. However, there is a dedicated page of USSD Mobile Banking Service.

              The BOB *99# USSD Banking APP is available on Google Playstore.

              Looking forward to Safe Banking through BOB *99# USSD Banking APP

Thursday, September 15, 2016

Abhay – An APP by IDBI Bank to let customers control their Debit Cards

          One of the major challenges faced by Bank Debit Card holders is the inability to take immediate safeguards to block probable fraudulent activities on the debit cards.
          In the initial days, Debit card holders had to contact their base branch, to BLOCK the card, to prevent probable fraudulent activities. As technology improved, customers could contact a centralized customer care phone number or SMS key words to BLCOK the debit card.
          As technology further improved, Banks have launched APPS on Google Playstore to enable Bank Debit Card Holders to control transaction features on their debit cards.
          IDBI Banks ‘Abhay’, is one such APP.
Abhay Card.  ‘Abhay’- Instant, anywhere Card Control Application
The chief objective of IDBI Bank 'Abhay' mobile app is to empower IDBI Bank customers' to gain personal control over their debit cards and safeguard them against any probable fraudulent activities on their debit card.
IDBI Bank customers can now set preferred controls to match the desired usage of your debit cards instantly using your Smartphone. Remember, ‘Smartphone’.
Abhay Card Control App gives you the following controls:
·       Lock/Unlock your Debit card: - No more worries regarding your card getting misused without your knowledge. You can keep your Debit card turned OFF and turn it ON only when you want to use it. All this is possible instantly with a single touch.
·       Set Card Limits: - You have the flexibility to set your own daily transaction limits for ATM and POS usage. For example, if your daily ATM withdrawal and POS usage limits are 25,000 each, then you can set your transaction limits as per your requirement within the prescribed limit.
·       Customizing Transactions:- Depending on your requirement, you can also enable/disable your card for specific type of transactions- ATM or POS. For Example, if you do not wish to use your card for purchases, you can disable POS transactions by setting the POS limit to zero.
·       Keep track:- No need to visit the branch/ATM to get the details of your recent transactions. You can view the last 5 transactions of your account instantly.
As of now, it is available on Google Play Store. Coming soon on IOS.

IDBI Bank has posted FAQs on its website to enable its customers to make most of the Abhay Card Control App.
The Frequently Asked Questions (FAQs) are as under:-
Q1.What is Abhay Application?
Ans. Abhay as the name denotes is a securemobile application on the android platform
aesthetically designed for IDBI Bank customers to eradicate the fear of holding a debit card with the freedom to instantly control the card(s) from the comfort of ones smartphone.
Q2. What are the controls available with Abhay Application?
Ans. Following controls are available with Abhay Application:
Switch the card On/Off(Temporary Activation/Deactivation)
Set a daily transaction limit in Rupees for ATM & POS
Allow/Disallow transactions for specific channels such as ATM or POS
Display last 5 transactions in the account linked to the card
Change the PIN of the app (not the PIN of the Debit Card)
Q3. Do I need Mobile Internet for downloading and using the application?
Yes, you need a mobile internet/ GPRS data plan activated through your telecom operator on your mobile phone to download Abhay application.
Q4. Which phones are supported by Abhay application?
Currently Abhay application is available only for Android Phones having android version 4.1 or higher.
Q5. How do I sign up for Abhay application?
After Abhay application is successfully installed on your mobile phone you need to complete a one-time registration process. Use your customer id and the registered mobile number with IDBI Bank to generate an OTP. Key in the OTP received on your registered mobile and validate. Once the OTP has been validated the application ask you to set a secure four digit PIN of your choice. Choose your PIN and re- enter the same PIN to register.
Q6. How do I use Abhay Card?
On logging-in to the application, Debit cards issued to the customer will be displayed.
Customer will get options to Switch the card On/Off, Set a daily transaction limit, allow/Disallow transactions for specific channels such as ATM/POS, view last 5 transactions in the account linked to the card.
Q7. Can I use Abhay when I am traveling abroad?
Yes, you can use Abhayfrom anywhere in the world. Only thing you need is an internet connection activated on your mobile phone.
Q8. How can I set my debit card ATM/Pos& E- com limits with Abhay?
In the home screen you have the option to set your ATM/Pos& e-com limit separately. You will need to authenticate the process using the PIN created by you at the time of registration.
Q9. How do I lock/unlock my debit card(s) with Abhay?
In the home screen you have the option to lock/unlock your debit card. You will need to authenticate the process using the PIN created by you at the time of registration.
Q10. I have forgotten my Abhay PIN (personal identification number). What should I do?
Please use the PIN change option to set a new PIN.
Q11. What happens when I have locked my debit card using Abhay and have lost my mobile device?
You can download the Abhay Application from Play Store on your new android device and login with the existing credentials. In case you face issues while login in, you can use reregister option to re-register yourself.

Read the latest news about IDBI Bank here
Hope to see other banks too launching similar APPS with additional features