NAVI MUMBAI: The city police department has started two mobile SMS facilities in zone-I. They can now obtain details of vehicle and SIM card owners within 20 seconds by sending an SMS to a special mobile number provided to them. Both the facilities are meant for use of police personnel, officials said. Read Full Story Now...
Now, office-goers in Mumbai can get the services of the city s famed dabbawalas online. The Mumbai Dabawala s Association on Monday started their own official website, where people can register themselves to avail of their services. Read Full Story Now...
All Indian banks shall now start sending Short Message Services (SMS) alerts to both payer and drawer in any sort of check transactions as soon as the checks are received for clearance in the bank. Mentioning concern in an excessive rise in cheque-related fraud cases, the Reserve Bank of India (RBI) has now made Bulk SMS alerts mandatory for such kind of transactions earlier it was mandatory for card related transactions only.
RBI has also mentioned banks to prior inform a customer with a phone call and obtain related confirmation while clearance with suspicious or big amount cheques. The increase in the number of frauds related to cheque transactions matter, RBI mentioned in their circular to all Indian banks.
Moreover, just sending alerts, banks have been also demanded to assure that all cheques of over Rs 2 lakh are cross checked via scanning under an ultraviolet lamp that will spot any kind of tampering. Also, the amount of over Rs 5 lakh, banks must be audited checks at multiple levels.
However crossed cheques do have a better money chase that can be enquired, crooks have ensured transactions with cheques by presenting them into fraudulent opened bank accounts.
An extra and very important guideline came into practice by RBI, while about to credit the high amount into account, banks must ensure the KYC- Compliance of the recipient before completion of the transaction.