innovationinbanking

Reserve Bank of India has informed to public at large that   it has has imposed a monetary penalty of ₹ 1,00,000/- (Rupees one lakh only) on Northern Railway Multi-state Primary Co-operative Bank Ltd., Lucknow, for violation of RBI Instructions/Guidelines for opening on-site ATM without obtaining prior approval from RBI.   Reserve Bank of India had issued a Show Cause Notice to the bank, in response to which the bank had submitted a written reply. After considering the facts of the case, and the bank’s reply in the matter, the Reserve Bank came to the conclusion that the violation was substantiated and warranted imposition of penalty. Northern Railway Primary Muti-State Co-operative Bank Ltd was registered as Co-operative Society on 22/1/1918 under Co-operative Societies Act II of 1912 & later granted a banking license by Reserve Bank of India on 28/11/1986.

NPCI vide its Circular: NPCI/2018-19/BBPS/001 May 09, 2018, addressed to All BBPOUs in Bharat Bill Payment System has made it mandatory to provide the Bharat Bill Payment System (BBPS) Approval Reference Number Q: What is Bharat Bill Payment System (BBPS) Approval Reference Number? Ans: BBPS Approval Reference Number is an internal confirmation number which may be used by Biller BBPOU and Biller as a reference of any transaction. BBPS Approval Reference Number is the confirmation number for the   payment made by the customer to the Biller. BBPS Approval Reference Number is mandatorily to be shared with end customer so that a customer can provide reference of any transaction while reaching out to the Biller directly (e.g. contacting biller customer care in case of any grievance) BBPS Approval Reference Number is the key in offline channel to ensure that the transaction is routed through NPCI BBPS Channel only and no dummy collection has taken place. ...

           Karnataka Bank headquartered in Mangalore has launched ‘KBL-Deposit Only Card’ that enables hassle-free cash deposit transactions at the bank’s 24X7 e-lobby services.           The new offering was announced through a A press release by the bank on Thursday. This card is specially meant for the bank’s current/overdraft customers. These customers can perform cash deposit transactions even with higher deposit limit at the bank’s bunch note acceptor (BNA) or cash recycler kiosks by using this card. The limit for the cash deposit a day is Rs 10 lakh. Quoting Mahabaleshwara MS, Managing Director and Chief Executive Officer of the bank, the release said that these unique cards will empower the corporate customers and businessmen to deposit cash and business proceeds to their account, round the clock, even at different locations. In future, these cards may be permitted with inter-op...

The most popular fines in India are the Traffic Fines and Railway fines. Traffic fine violators can remit the fine in digital mode in most of the cities. In the following cities i.e Chennai, Kolkata, Mumbai, Nashik, Pune, The whole of Telangana, Vijayawada, Visakhapatnam Rural, West Godavari can pay their Traffic fines through Paytm App The other online payment option are the integrated services centers of respective states. Highlights of Bangalore Police Service:- Parking Fine Online Payment:- The Bangalore Police Service has integrated its "Parking Fine Collection Service with KarnatakaOne. Now pay the Parking Fine payments through KarnatakaOne Portal service. Traffic Violation Fine Online Payment:- The "Traffic Violation Fine Payment” Service of Bangalore Police Service is integrated with KarnatakaOne. Citizens violating Traffic regulations can pay the Parking Fine payments through KarnatakaOne portal. The traffic violation mar...