Mumbai, June 16th: Aiming to make bank services more customer-friendly, the Reserve Bank of India (RBI) asked all the banks to inform their customers about the transactions and the money transfers through SMS and email services. The RBI through notification asked the banks engaged in real time transfer of funds to explore the possibility of mobile phones and the internet to inform customers about transactions.
According to the notification issued by the RBI, all the RTGS (Real Time Gross Settlement) participants may explore the possibility of sending SMS/email information to customers when a transaction debit/credit takes place. Now only few banks send SMS to account holders as and when money is debited or credited. Besides, those having access to their accounts through net can view the transactions without visiting the bank.
Based on the complaints received by trade bodies and business officials about facing problems in knowing about the RTGS debits/credits the RBI has taken this decision of sending the information to the customer about their transactions through SMS. The RBI has also asked banks to adopt the new compliance format to track interbank transfer of funds under the RGTS.
Kakinada, June 16th: Three shops were sealed for violating the specifications issued by the administration during the surprise visits made by the collector for civil supplies, Mr. Kona Sasidhar on rice outlets on Tuesday. The team led by joint collector included district supply officer B.Yesuratnam...
Rajahmundry, June 26th: For the farmers who suffered crop damage or loss during the Kharif season last year due to natural calamities like the Godavari floods and cyclones, the government is going to give insurance to the tune of Rs 7 crores shortly in East Godavari district. Nearly 9,000 farmers e...
Hyderabad, June 17th: A 29 year old woman, Mrs. Radhika tried to end her life by hanging after allegedly being harassed for dowry by her husband and in-laws. She was admitted in a private hospital and was battling for life. Radhika was Daughter-in-law of the former president of FAPCCI, Mr. M.L Agar...
Hyderabad, June 17th: 31 percent of students passed in the advanced second year intermediate exams results that were announced on Wednesday. A total of 3, 04,061 candidates have appeared for the exams of which 95,302 cleared it. With this the total pass percentage in inter second year exams touched...
Hyderabad, June 17th: The Telugu Desam Party president, Mr. Chandra Babu Naidu who along with his wife Bhuvaneswari went to US for a week on personal work was tested negative for swine flu where they underwent swine flu screening test at Shamshabad Airport. The Couple returned to India on Wednesday...
Kakinada, June 17th: Two fishermen who rescued the Srilanka Tamils that lost their way while traveling from war-torn Mullaitivu to Rameswaram were facilitated with cash prize and mementoes. In a program organized at Pantam Padmanabham Community Hall at Uppada village in the suburbs of Kakinada on W...
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