New Delhi: If your account is with the State Bank of India (SBI), then there is very important news for you. The largest state-owned lender will take a temporary maintenance break for about 150 minutes on July 16 and 17. During the maintenance shutdown, customers won’t be able to use SBI’s digital banking service, including internet banking, YONO, UPI and YONO Lite. 

SBI took to Twitter to inform about the temporary suspension of internet banking services so that its customers can schedule their transactions accordingly without facing any issues. 

SBI said, “We request our esteemed customers to bear with us as we strive to provide a better banking experience.” 

“We will be undertaking maintenance activities between 22:45 hrs on 16.07.2021 and 01:15 hrs on 17.07.2021 (150 minutes). During this period, Internet Banking / YONO / YONO Lite / UPI services will be unavailable. We regret the inconvenience caused and request you to bear with us,” SBI added. 

Prior to this, SBI has temporarily shut down its services for maintenance breaks quite a few times in the past few weeks. For instance, the bank’s digital services remained unavailable for a few hours on July 10 and July 11. 

The bank also took another break on July 4 and June 20 citing maintenance activities. However, the services were restored within hours of the hiatus. Also Read: COVID-19: Jammu and Kashmir’s Gulmarg closed for local day-picnickers on weekends

At present, SBI is the largest bank in India in terms of network. The bank operates close to 22 thousand bank branches across India, and had more than 85 million internet banking customers, according to the data on December 31, 2020. Also Read: JEE Mains 2021 fourth session postponed till August, check new schedule here

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New Delhi: In times of pandemic, gold has attracted investors because it is seen as a safe haven asset in uncertainty. As per the Reserve Bank of India (RBI) notification, the price offered in this Sovereign Gold Bond Scheme 2021-22  Series IV is Rs 4,807 per gm. The government in consultation with the RBI, has decided to offer a discount of Rs 50 per gram less than the nominal value to those investors applying online and the payment against the application is made through digital mode. For such investors, the issue price of Gold Bond is Rs 4,757 per gm.

The largest public sector bank has informed its customers through a tweet on reasons to invest in this scheme.

ALSO READ: Fuel Price Hike: After 2-Day Hiatus Petrol And Diesel Prices Rise Again. Check Latest Rates

Check the reasons below to invest in Sovereign Gold Bonds:

• Highest Returns: Among other available investing options in gold, SGBs offer the highest returns, which includes capital appreciation (market returns due to increase in the prices of gold) as well as additional interest @ 2.5 percent per annum.
• Low Tax: Even as the annual interest income of 2.5 percent received is taxable but if you hold SGBs till maturity, there will be no capital gain tax on the investment. But in the case of Gold ETFs or gold funds capital gains earned after three years of investment are taxed at 20 per cent after indexation.
• Loan facility: Can be used as collaterals for loans
• No storage problem: Secure, no storage hassles like physical gold
• Liquidity: Tradable on exchanges

Besides this there will be no application of GST, making charges, unlike physical gold which makes it a lucrative option to invest.

At a time when COVID-19 has a severe impact on the economy, many banks are coming up with doorstep banking facilities so that people can get all the important facilities at the comfort of their homes.

One such bank is the State Bank of India (SBI) which is also providing doorstep banking services to its customers. The bank is offering three types of services including Pick-Up Services, Delivery Services, and Other Services.

The pick-up services include cheques/drafts/pay orders, new cheque book requisition slips, IT challan, and standing instructions request. Meanwhile, the delivery services include drafts/pay orders, term deposit receipts, account statement, TDS/Form-16 Certificate, and gift card. While other services include cash withdrawal and digital life certificate for pensioners.

Check out the important features of SBI doorstep banking:

1. Registration is done at the Home Branch.

2. Requests for Doorstep Banking Services should be made only at the Home Branch.

3. Cash withdrawal and cash deposit is restricted to Rs 20,000 per transaction every day.

4. Service charges per visit for Non-financial transactions is Rs 60+GST and Rs 100+GST for financial transactions.

5. Withdrawal will be permitted using cheque / withdrawal form with Passbook.

6. The delivery would be completed on a best effort basis but not later than T+1 working day (holidays excluded).

Eligibility:

1. Senior Citizens of more than 70 years of age and differently abled or infirm Persons (Having medically certified chronic illness or disability) including those who are visually impaired.

2. Fully KYC compliant account holders.

3. Valid Mobile Number should be registered with the account.

4. Single account holders and Joint Account Holders with Either or Survivor/ Former or Survivor.

This facility is not available for accounts operated jointly, minor accounts, accounts of non-personal nature, customers having registered addresses within a radius of 5 KMs from the Home Branch.

Service Charges: Doorstep Banking Services would be provided to customers on chargeable basis, the present rates being as follows:

Financial/ Non-Financial Services: Rs 75/- + GST

Calls made to Call Centre for enquiry purpose (where Agent for service delivery is not required)- No Charge

Here’s how to register in Doorstep Banking App?

Step 1: Download the Doorstep Banking app from the app store for iOS and play store for Android.

Step 2: Provide a mobile number to register.

Step 3: OTP will be generated from System and sent to your mobile.

Step 4: Enter OTP in DSB App.

Step 5: On confirmation, provide your name and Email (optional) Password (PIN) and accept the terms and conditions.

Step 6: On registration, DSB system sends welcome SMS.

Step 7: Login in APP with PIN for entering additional information.

Step 8: Select Add address option and enter address details. More than one address can also be added and stored in the DSB App. You can add, edit or delete addresses any time.

SBI Doorstep Banking Services can further be accessed through Mobile App, Web Portal and Call Centre.

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New Delhi: If you are a State Bank of India (SBI) customer, then we have important news for you. SBI said that its net banking services will remain unavailable on July 10 and July 11 for a few hours. 

Besides net banking services, SBI customers won’t be able to use YONO, YONO Lite or UPI services as well. Taking it to Twitter, SBI urged its customers to bear with the bank as it aims to offer a better banking experience. 

“We request our esteemed customers to bear with us as we strive to provide a better Banking experience,” SBI’s tweet read. 

If you have to do any important transaction, then you should settle it immediately before the temporary suspension comes into effect. In its tweet, the SBI also notified the timings for the scheduled maintenance activities that will start from 10.45 pm on July 10 to 12.15 am on July 11. 

“We will be undertaking maintenance activities between 22:45 hrs on 10.07.2021 and 00:15 hrs on 11.07.2021. During this period, Internet Banking / YONO / YONO Lite / UPI will be unavailable. We regret the inconvenience caused and request you to bear with us,” SBI said. Also Read: BMW R 1250 GS, BMW R 1250 GS Adventure launched: Check price, features and details: In Pics

Meanwhile, SBI has appealed to its customers to keep changing their passwords continuously. The bank said that changing passwords is like a vaccine against the virus. Cybersecurity researchers of SBI customers have issued a warning regarding Chinese hackers who are using KYC tactics to conduct online fraud. Also Read: Mother Dairy increases milk price by Rs 2 per litre, check latest rates

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New Delhi: With the rising usage of technologies in financial transactions, there has been a sharp rise in the number of cybercrimes happening across the world. As a result, banks frequently share advisories with their customers regarding best practices to follow while transacting online. Banks often tell customers not to share One-Time Password (OTP) or click on dubious links that might be a part of a scam. In one such scam, SBI bank customers are being targeted by Chinese hackers. 

Hackers are targeting SBI customers in the name of KYC verification, according to a report by CyberPeace Foundation and Autobot Infosec. As part of the scam, hackers will first send an SMS or a WhatsApp message asking customers to update their KYC via a link in the message. 

Upon clicking on the malicious links, customers are asked to update their KYC details. Separately, you’ll receive an email regarding the same from the hackers. The link redirects you to a web page that looks exactly like the original SBI website. 

However, upon paying close attention, you can see that the URL is different from the original one. The original SBI’s website is https://retail.onlinesbi.com/retail/login.html. 

On the fraud website, customers are asked to enter their SBI banking details such as username, password, and captcha information, among others. Upon entering the details, you’ll receive an OTP from the bank. Also Read: Gold Price Today, 9 July 2021: Gold cheaper by Rs 8,300 from record highs, perfect time to invest?

Using the credentials and OTP, scammers can transfer money from your account. Therefore, it is requested that never fall for any KYC related scam. Also Read: Sensex tumbles over 300 pts in early trade, Nifty tests 15,650

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New Delhi: The Reserve Bank of India (RBI) has slapped 14 banks with cash penalties on 14 banks due to their non-compliance with certain provisions. Some of the notable banks which came under the radar of RBI include Bank of Baroda, State Bank of India (SBI), Bandhan Bank, Bank of Maharashtra, Central Bank of India, Credit Suisse AG, Indian Bank, IndusInd Bank, Karnataka Bank, Karur Vysya Bank, Punjab & Sind Bank, South Indian Bank, The Jammu & Kashmir Bank and Utkarsh Small Finance Bank. 

The banks were penalised for not complying with RBI directives on lending to non-banking financial companies, bank finance to non-banking financial companies, loans and advances – statutory and other restrictions, among other norms, according to an IANS report. 

In total, RBI has slapped a total penalty of Rs 14.50 crore, of which Bank of Baroda is paying the highest amount at Rs 2 crore while the State Bank of India is fined with the lowest amount at Rs 50 lakhs. 

“A scrutiny in the accounts of the companies of a group was carried out by the RBI and it was observed that the banks had failed to comply with provisions of one or more of the aforesaid directions issued by the RBI and or contravened provisions of the Banking Regulation Act, 1949,” the RBI said in its statement. 

The central bank also noted that the replies that banks gave provided it are duly considered “to the extent the charges of non-compliance with RBI directions or contraventions of provisions of Banking Regulation Act, 1949 were sustained.” 

As a result, RBI has concluded that it warranted the imposition of cash penalty on the fourteen banks. “In furtherance to the same, `Notices` were issued to the banks advising them to show cause as to why penalty should not be imposed for non-compliance with the directions or contraventions of provisions of Banking Regulation Act, 1949,” the RBI said. 

Will fine impact customers? 

RBI said that the rules related to Central Repository of Large Common Exposures, Central Repository of Information on Large Credits (CRILC) reporting in banks, operating guidelines of Small Finance Bank have been compromised by the banks. Also Read: Earned leaves to increase to 300, changes in salary and PF? Big decisions will be taken soon 

Banks have also violated section 19(2) and section 20(1) of the Banking Regulation Act, 1949, RBI noted. Since the penalties are imposed on banks for lack of regulatory compliance, the fines won’t have any impact on the banks’ customers. Also Read: Sensex ends above 53K for first time, Nifty rose to record peak

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New Delhi: In fresh trouble for the State Bank of India (SBI), hackers of Chinese origin are targeting bank users with phishing scams, asking them to update their KYC using a particular website link and offering free gifts worth Rs 50 lakh from the bank via a WhatsApp message, cybersecurity researchers warned on Wednesday.

The research wing of New Delhi-based think tank CyberPeace Foundation, along with Autobot Infosec Pvt Ltd, studied two such incidents on the name of SBI that were faced by some smartphone users.

“All the domain names associated with the campaign have the registrant country as China,” the research team said.

In the first case of the text message requesting KYC verification, the landing page that appears resemble with the official SBI online page.

On clicking the “Continue to Login” button, it redirects the user to full-kyc.php page, asking confidential information like username, Password and a captcha in order to login to the online banking.

“Following this, it asks for an OTP sent to the user`s mobile number. As soon as the OTP is entered, it redirects the user to another page that asks the users to enter some confidential information again like account holder name, mobile number, date of birth. After entering the data, it redirects the user to an OTP page,” the researchers informed.

The research team came to a conclusion that the campaign is pretended to be launched from State Bank of India but hosted on the third-party domain instead of the official website www.onlinesbi.com, which makes it more suspicious.

The overall layout of the web page used in the campaign is kept similar to the official SBI netbanking site to lure the users.

The SBI was yet to react to the report.

In the second case of luring users to win attractive free gifts, the team found that the WhatsApp message also redirects the user to a link.

“On the landing page, a congratulations message appears with an attractive photo of State Bank of India and asks users to participate in a quick survey to get a free gift of Rs 50 lakh from the State bank of India,” the researchers informed.

At the bottom of the page, a section appears which seems to be a Facebook comment section where many users have commented about how the offer is beneficial.

The Research teams investigated the URLs in a secured sandbox environment where the WhatsApp application was not installed.

The researchers recommend that people should avoid opening such messages sent via social platforms.  

“The URL manipulation showed that the web server has directory listing enabled and found other links visible which proves that not only the SBI users, IDFC, PNB, IndusInd and Kotak bank users are also targeted by the same type of phishing scam,” the team noted. Also Read: You may not get ration from fair price shops? Check big news regarding PDS card criteria

In March this year, the same research team had pointed out that several users of the SBI were targeted in a phishing scam where hackers flooded them with suspicious text messages, requesting them to redeem their SBI credit points worth Rs 9,870. Also Read: Top 5 upcoming electric bikes with up to 240 Km range, 70 minutes full charge and more!

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New Delhi: State Bank of India (SBI) customers won’t be able to use the internet banking services on July 4 for a few hours as the bank would be undergoing scheduled maintenance. Overall, the bank’s internet banking services will remain suspended for 2 hours and 25 minutes. Besides internet banking services, customers won’t be able to use YONO/YONO Lite/ UPI services due to the scheduled maintenance that will last for over two hours on Sunday. 

SBI informed its customers about the temporary outage via Twitter. On its Twitter handle, SBI said, “We request our esteemed customers to bear with us as we strive to provide a better banking experience.”  

In a photo attached with the tweet, SBI said, “We will be undertaking maintenance activities between 03:25 hrs and 05:50 hrs on 04.07.2021. During this period, Internet Banking / YONO/YONO Lite / UPI will be unavailable. We regret the inconvenience caused and request you to bear with us.” 

We request our esteemed customers to bear with us as we strive to provide a better banking experience.#InternetBanking #YONOSBI #YONO #ImportantNotice pic.twitter.com/l7dsyoQcsu

— State Bank of India (@TheOfficialSBI) July 2, 2021

SBI also faced a similar outage last month on two different occasions wherein its internet banking services, along with YONO, YONO Lite and UPI remained suspended for a few hours. Also Read: 
Amazon asked to change Alexa’s name by parents in UK, here’s why

Notably, scheduled maintenances improve our digital banking experience. The bank also fixes flaws to make digital banking safer than ever. In terms of network and reach, SBI is the country’s largest bank. It operates more than 22,000 branches across the country along with a strong network of 57,889 ATMs. Also Read: Centre won’t change FDI policy for e-commerce sector: Commerce Minister Piyush Goyal

State Bank of India is going to bring changes in the service charge from July 1. That is, from Thursday, SBI will revise the service charges for withdrawing cash from its ATMs and bank branches. According to the information, the new charge will be levied on the chequebook and other non-financial transactions.

The bank has published this information on its website. SBI will give 10 cheques free of cost to BSBD account holders in a financial year. Thereafter SBI will charge a certain amount for issuing the cheques. Customers will now pay Rs 40 (including the GST) for a 10-page chequebook. On the other hand, a chequebook of 25 pages will cost Rs 75.

However, senior citizens will be exempted from these new service charges on chequebooks. According to the SBI website, BSBD account holders will be able to make four free cash withdrawals per month from ATMs and bank branches. After free four withdrawals, the bank will charge Rs 15 along with GST for every transaction. Cash withdrawal charges will be applicable at home branches and ATMs and non-SBI ATMs.

Senior Citizens Exempted

The bank has exempted senior citizens from paying additional service charges. Therefore, senior citizens will not have to pay these new service charges on the chequebook.

BSBD Account Facility For Underprivileged . . . .

SBI BSBD account is known as a zero balance savings account. This account is opened mainly for underprivileged sections of society. The bank offers the same interest rate on zero balance accounts as on regular savings bank accounts.

People Who Are Completely Vaccinated Must Continue To Wear Masks, WHO issues alert.

From July 1, two big banks of the country are going to make changes in their charges. If you have an account in these banks, then the changes in their charges are going to hurt your pocket. The two banks are the State Bank of India and the Axis Bank. Let us discuss the changes that will happen on July 1.

Changes in SBI Charges

• The new service charges for a Basic Savings Bank Deposit (BSBD) account will be applicable from July 1, 2021.
• The new charges will be applicable for ATM cash withdrawals and the use of chequebooks.

Cash Withdrawal

• Cash can be withdrawn from the BSBD account 4 times a month (including ATM and branch) for free.
• After this, SBI will charge you for cash withdrawals.
• Rs. 15 + GST will be charged per cash withdrawal (branch/ATM).
• Apart from SBI ATMs, the same charge will be applicable for withdrawals from ATMs of other banks, too.

Chequebook

• SBI’s BSBD account holders will get the first 10 cheques in a financial year for free.
• After this, you will have to pay for chequebooks in the following way: Rs. 40 + GST for 10 cheques, Rs. 75 + GST for 25 cheques, and Rs. 50 + GST for an emergency chequebook with 10 cheques.
• Senior citizens are exempted from the new service charge on chequebooks.

Transfer and Non-Financial Transactions

• If BSBD account holders do non-financial transactions through a branch/ATM/CDM, no charges will be levied. These transactions can be done from SBI ATMs or through any other bank ATMs.
• There will also be no charge for transfer transactions through bank branches and alternate channels.

The Following Changes Will Happen in Axis Bank

• The fee for SMS alerts will increase from July 1, 2021.
• At present, the value-added SMS fee is Rs. 5 per month on a subscription basis for select Value Added Services Alerts.
• From July 1, 2021, customers will have to pay 25 paise per SMS for SMS alerts.
• The maximum SMS alert fee will be Rs. 25 per month.
• This charge will not be applicable to promotional messages and OTP alerts sent by the bank. 

These accounts will be out of the purview of the increased SMS alert fees

According to the bank, Burgundy, Burgundy Private, Priority, NRI, Trust, and Government Accounts, Defense Salary Accounts, Staff Accounts, Small and Basic Accounts, Pension Accounts and Select Salary Relationship Accounts will be out of the purview of the increased SMS alert fee. 

India’s largest lender, State Bank of India (SBI) has made changes in services like cash withdrawals from ATMs and bank branches. Come July 1, these new charges will be applicable on chequebook, transfer and other non-financial transactions, as per the details mentioned on the website. This will also apply to Basic Savings Bank Deposit (BSBD) account holders.

Details about new rules and charges

From July 1, SBI would now provide 10 cheque leaves free in a financial year to BSBD account holders and then the bank will levy a certain amount for providing cheques.

10 leaf cheque Book at Rs 40 plus GST

25 leaf cheque Book at Rs 75 plus GST

Emergency Cheque Book: Rs 50 plus GST for 10 leaves or part thereof.

Notably, these new charges will not be applicable to senior citizens.

According to the SBI’s website, four free cash withdrawals will be available — including ATMs and bank branches every month for BSBD account holders. 

The bank will further apply a fee of Rs 15 plus GST for every transaction that crosses the free limit. The service charge will be applicable at home branch and ATMs and non-SBI ATMs which means BSBD account holders of BSI will have to pay a service charge for making more than four free cash withdrawals in a month.

SBI will not charge for any non-financial transactions by BBSD account holders at home and non-home branches. For BSBD account holders, transfer transactions will also be free at branch and alternate channels

At non-home branches, the cash withdrawal limit rose for all. The bank stated, “To support our customers in this pandemic, SBI has increased the non-home cash withdrawal limits through cheque and withdrawal form.”

The withdrawal limit at SBI branches was hiked to Rs 1 lakh per day with the help of cheque. While, the cash withdrawal has been increased to Rs 25,000 per day, using a withdrawal form along with a savings bank passbook.

Besides that, the third-party cash withdrawals have been fixed at Rs 50,000 per month (only using cheque). 

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New Delhi: State of Bank of India (SBI), India’s largest state-owned bank, is offering a doorstep banking facility, using which customers can avail several services otherwise offered only at physical branches or ATMs. For starters, customers can literally order cash to be delivered right to their homes under the doorstep banking facility. However, SBI is offering the services to customers of select branches only. Besides the cash delivery service, SBI’s doorstep banking facility offers other services such as cash or cheque pickup. Also Read: Syndicate Bank IFSC code will change from July 1, here’s how to get new one

Customers can also use the service to get cheque requisition slip pickup, form 15H pickup, delivery of drafts, life certificate pickup and KYC documents pickup, among others. Also Read: Unbelievable! Tesla Supercharger station gets direct service from McDonalds

Things you should know before using the SBI Bank cash delivery facility 

1. At present, SBI has capped the cash withdrawal and cash deposit service to Rs 20,000/-per transaction per day.

2. The service request can be made between 9 am to 4 pm only on working days.  

3. Only the home branch will offer doorstep banking services.

4. Customer has to be KYC-compliant to use the cash delivery service. 

5. Customers will have to pay Rs 100 + GST on cash delivery and cash deposit 

6. You have to call 1800111103 to order cash at home. 

7. Customers need to be present within the 5Km radium of the bank to avail the service. 

8. You can withdraw the money using a chequebook or passbook.

New Delhi: State Bank of India (SBI) has announced revision in service charges for its Basic Savings Bank Deposit (BSBD) Account holders that will kick in from next week (July 1). For cash withdrawal, at branches charges will be recovered beyond 4 free cash withdrawal transactions (including at Branch & ATM) and at ATMs charges will be recovered beyond 4 free cash withdrawal transaction (including at ATM &Branch).

The Additional Value Added Services will come into effect from July 1, 2021, SBI said.

These SBI charges pertain to cash withdrawal at branches and at ATMs, charges related to Cheque Book, transfer and other non-financial transactions.

BSBD account holders will have to follow these charges for cash withdrawal:

Rs 15 plus GST per cash withdrawal transaction at Branch Channel/ATM.

i. SBI ATMs: Rs 15 +GST

ii. Other Bank’s ATMs: Rs 15 + GST

The following charges will be levied for Cheque Book

i. First 10 cheque leaves FREE in a financial year.

ii. Thereafter:

a. 10 leaf cheque Book at Rs. 40/- +

GST

b. 25 leaf cheque Book at Rs. 75/- +

GST

c. Emergency Cheque Book:

Rs. 50/- + GST for 10 leaves or part thereof.

However, Senior Citizen customers are exempted.

The Non-Financial Transactions at Branch Channel/ATM/CDM/ will be free for BSBD account holders in both SBI and other banks. Transfer Transactions of BSBD account holders will be free for branch and alternate channels.

 

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New Delhi: The Central Bureau of Investigation (CBI) has registered a case on a complaint from the State Bank of India (SBI) against C.G.Power and Industrial Solution Ltd, a Mumbai-based private firm. The case related to the YES bank matter also names several others, including Gautam Thapar, then CMD K.N Neelkanth, then CEO & MD Madhav Acharya, then ED & CFO Venkatesh Rammoorthy, then CFO B Hariharan and then Director Omkar Goswami for causing an alleged loss of approximately Rs 2435 crore to SBI and other consortium member banks.  

Then non-executive director, unknown persons and bank officials have also been named in the charge sheet. The accused had allegedly cheated SBI and other consortium member banks including Bank of Maharashtra, Axis bank, Yes Bank, Corporation Bank, Barclays Bank, IndusInd Bank etc. by way of diversion of bank funds; sham transactions with related parties; borrowing funds from the Bank by misrepresentation; falsifying/fabricating books of accounts, entries, vouchers and financial statements; furnishing false, incorrect or misleading information; siphoning off funds including various loan proceeds. 

The allegations were based on a forensic audit report. Searches are being conducted today at the premises of the accused including said private company at Mumbai, Delhi and Gurugram.
 
This is a separate case against Gautam Thapar. Earlier he was booked for Rs 466 Crore Bank Fraud with Yes Bank. It was alleged that Gautam Thapar and others had committed a breach of trust, cheating, criminal conspiracy & forgery for diversion/misappropriation of the public money during the period from 2017 to 2019. Searches were conducted at 14 locations including Delhi/NCR, Lucknow, Secunderabad and Kolkata which led to the recovery of incriminating documents/digital evidence. Also Read: 

Here’s the list of names involved in the case: 

1. M/s C.G. Power and Industrial Solution Ltd.

2. Sh. Gautam Thapar, the then CMD

3. Sh. K N Neelkanth, the then CEO & MD

4. Sh. Madhav Acharya, the then ED & CFO

5. Sh. B Hariharan, the then Director

6. Sh. Omkar Goswami, the then non executive director

7. Sh. Venkatesh Rammoorthy, the then CFO

8. Unknown public servants and unknown other

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New Delhi: To provide enhanced support to the healthcare sector amid the pandemic, the State Bank of India (SBI) has launched the Aarogyam healthcare business loan. Under this new product, the entire healthcare ecosystem such as hospitals, nursing homes, diagnostic centres, pathology labs, manufacturers, suppliers, importers, logistic firms engaged in critical healthcare supply can avail of loans up to Rs 100 crore (as per the geographic location) repayable in 10 years, the country’s largest state-owned bank said in a statement.

The Aarogyam loan can be availed either as a term loan to support expansion or modernisation or as working capital facilities such as cash credit, bank guarantee/letter of credit, it said.

In metro centres loans under Aarogyam can be availed up to Rs 100 crore, Tier I & Urban centres up to Rs 20 crore and in Tier II to Tier VI centres up to Rs 10 crore, SBI said.

The beneficiary units/borrowing Companies availing loan of up to Rs 2 crore will not be required to offer any collateral or security to the bank as this will be covered under the guarantee scheme of Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), it said. Also Read: Vivo V21e launched in India with special inaugural offer: Price, specs and more details

SBI Chairman Dinesh Khara said, “We believe this special loan product will provide the much needed financial support to enable expansion/modernisation of existing facilities and also the creation of new facilities. With Aarogyam Healthcare Business Loan, our endeavour is towards strengthening the healthcare infrastructure across the entire country.”

Aarogyam Healthcare business loan will be eligible under the COVID loan book being created by banks announced by RBI as part of COVID relief measures. Also Read: Local trains to resume from Friday for select categories as Chennai unlocks

Chennai: The details of the recent theft from the largest bank State Bank of India’s (SBI) deposit machines to the tune of Rs 48 lakh seem no less than a script of a Bollywood movie. One person has been arrested in connection with the case from Haryana in connection with the theft of various cash deposit machines of SBI in Tamil Nadu.

In a first-of-its-kind robbery, the police have recovered Rs 4.5 lakh from him. Around 14 cases of such fraud in SBI ATMs have taken place in the city from June 15-18, as per the police release and more than five groups of people are suspected to be behind this ATM crime.

ALSO READ: Free Fire Redeem Codes 24 June, 2021: Check Latest Codes Here & How to Redeem Items

As per the official release, investigation by a special team said “some accused have come from northern States and committed these offences.” The release said almost Rs 45 lakh has been syphoned off. The special team has arrested Amir Arsh of Ballabhgarh with the help of the Haryana State police.

In the course of the investigation, the accused confessed to the crime and explained the modus operandi and provided other leads.

“It is learnt that more than five groups have operated in Chennai city. A sum of Rs 4.5 lakh was recovered from him (the arrested person). The special team is camping at Faridabad to arrest the remaining accused,” it added.

What was the modus operandi?

A total of Rs 48 lakh has been stolen from Automated Cash Withdrawal and Deposit Machines also known as Cash Deposit Machines (CDM) located in various places, including Velachery here.

There is a 20-second window at the time of withdrawal in ATMs for customers to take the cash and if it was not done, the cash goes back into the machines.

If not taken, the lid of the machine would slide and get closed.

The suspects seem to have meticulously planned the theft. The probe revealed that the accused first took the cash from the machines (using withdrawal option in such machines) and managed to block the sensor signals for a while using their hands by keeping the lid open.

While the sensors appeared to have misread this action for “cash not being taken away” by customers and sent messages to servers that cash has not been withdrawn. Even as the related bank accounts were not debited while cash was taken away from machines.

The State Bank of India (SBI), also halted the operation of its ATMs in Tamil Nadu after a two-member gang exploited technical flaws and stole at least Rs 48 lakh.

The State Bank of India (SBI), India’s largest lender, has halted the operation of its ATMs in Tamil Nadu after a two-member gang exploited technical flaws and stole at least Rs 48 lakh.

Customers of SBI are unable to withdraw funds from ATMs because the bank’s management decided to halt ATM operations as a precautionary measure.

The Mumbai-based bank has put posters at ATM locations informing customers that the cash withdrawal facility in recyclers, i.e., cash deposit machines (CDM), had been temporarily disabled due to a technical error.

“A select category of ATMs has been temporarily disabled in Tamil Nadu,” a source in the know of the development told ABP News. The fraudulent withdrawals occurred between June 17 and 18 from SBI’s automated cash deposit-withdrawal machines.

The bank has close to 60,000 ATMs across the country, but the cash withdrawals were restricted to select ATMs in Tamil Nadu.   

Mumbai: Two years after the once-storied Jet Airways went bankrupt, the National Company Law Tribunal (NCLT) on Tuesday gave its nod to the Jalan Kalrock Consortium’s bid for the airline and the resolution professional is hopeful that the carrier will be back in the skies by the end of this year.

While the detailed written order is awaited, the tribunal made it clear that it will not give any direction on the issue of airport slots for the airline, saying that the matter will be handled by the government or the appropriate authority concerned.

Financial distress forced Jet Airways, which flew for more than two decades, to suspend operations on April 17, 2019 and a consortium of lenders, led by the State Bank of India (SBI), filed an insolvency petition in June 2019, to recover outstanding dues worth over Rs 8,000 crore.

In an oral order, an NCLT Mumbai bench chaired by Mohammed Ajmal and V Nallasenapathy, approved the resolution plan for Jet Airways that will have to be implemented in 90 days starting from June 22.

It also said that if further extension of the effective date is required, the resolution applicant (Jalan Kalrock Consortium) can approach the tribunal again.

In October 2020, the airline’s Committee of Creditors (CoC) approved the resolution plan submitted by the consortium of the UK’s Kalrock Capital and the UAE-based entrepreneur Murari Lal Jalan.

Jet Airways has been undergoing a resolution process under the Insolvency and Bankruptcy Code (IBC) for two years.

Ashish Chhawchharia, who has been managing the affairs of Jet Airways as the resolution professional, described the NCLT nod as one of the biggest turnaround events for the beleaguered aviation sector. And hoped that the airline will be back in the skies by the end of this year provided everything goes well.

Jet Airways shares jumped nearly 5 per cent to the upper circuit limit of Rs 99.45 on both BSE and NSE.

Shares of the airline have lost more than half of their value since it suspended operations in April 2019.

Jalan Kalrock Consortium said it will decide on the next step after receiving the NCLT’s written order.

The consortium said the journey until now has been “extremely challenging yet satisfying” and that it wants to work alongside the civil aviation ministry, the Directorate General of Civil Aviation (DGCA) and all its competitors to put Jet Airways back in the skies.

In February this year, the consortium had said it expects to restart operations of Jet Airways in four to six months after receiving the NCLT approval and that the airline is likely to resume services with roughly 25 planes.

While acknowledging that there are a “few concerns” related to the availability of routes/slots for the airline to fly again, Chhawchharia said none of them is unsurmountable. “I am confident that the DGCA and Ministry of Civil Aviation (MoCA) will duly take into account all issues and give a fair consideration to the business proposal for Jet’s revival”.

On a preliminary analysis, Chhawchharia said that apart from airports such as Delhi and Mumbai, it appears that other airports have sufficient slots whereas some are likely to expand their capacity.

Regarding the historicity of slot allocations for Jet Airways, the tribunal on Tuesday said it was not giving a direction and the issue will be handled by the government or the appropriate authority concerned.

Slots will be crucial for the revival of Jet Airways once it restarts operations. The slots that were with the airline prior to the suspension of operations in April 2019 have been allocated to other carriers.

After the CoC gave its approval to the resolution plan in October 2020, Chhawchharia had approached the NCLT stating that the “slots are a vital part of the plan, and it is important that DGCA and MoCA submit their stance on the same”.

However, in a joint affidavit to the tribunal, DGCA and MoCA had submitted that Jet Airways does not qualify for grant of slots on the basis of historic precedence and the allocation will be based on ‘Slot Allocation Guidelines’.

“Jet Airways does not qualify for grant of slots on the basis of historic precedence and the submission of the airline’s that it is in operation for the last 25 years is not a criteria for claiming historicity and it can’t substitute the requirements for claiming historic precedence.

“Thus, the claims are wrong and denied,” as per the affidavit that was filed earlier this year.

In July 2019, the resolution professional said that he had received claims worth Rs 24,887 crore, including Rs 8,462 crore by financial creditors, against the company.

The carrier started off as an air taxi operator in 1993 and became a scheduled carrier in 1995.

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Chennai: A series of ATM thefts using a unique method, without physically tampering the machine has come to the fore in Chennai.

The modus operandi of the criminals has been to target the withdrawal-cum deposit machines that are installed in some State Bank of India branches. It is notable that theft via this method does not raise an alarm in an ATM, unlike the cases where the machine is physically damaged or tampered with.

While performing a withdrawal transaction, the criminals block a sensor on the machine. This is a sensor meant to detect whether the cash has been collected or not. In about 20 seconds, when the cash is not collected the machine would take the cash back in.

In this case, when the sensor is blocked, the machine assumes that the cash has not been withdrawn and takes the cash back in. Hence, the money goes into the hands of the criminals, but the same does not reflect in the bank’s system or the concerned account.

Over Rs 10 lakhs have reportedly been fraudulently withdrawn from such machines. The authorities suspect that the culprits are from other states and operated in Chennai for a few days before moving out.

Two special teams have been formed to nab the culprits. Meanwhile, SBI is understood to have temporarily suspended the withdrawal of cash from the involved ATM cum deposit machines. Senior SBI officials have also met the Chennai Police Commissioner to discuss the further course of action.

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KYC frauds have increased a lot these days. Earlier, Delhi Police also issued a warning to customers so that they don’t click on spurious links. Now the State Bank of India (SBI) has issued an alert for its customers on the KYC (Know Your Customer) fraud and said that the fraud is real, and it has proliferated across the country.   

In its tweet, SBI said, “KYC fraud is real, and it has proliferated across the country. The fraudster sends a text message pretending to be a bank/company representative to get your personal details.”

The bank has further urged its customers to immediately report if any such incident occurs on the National Cyber Crime Reporting Portal https://www.cybercrime.gov.in/, which comes under the ambit of the Ministry of Home Affairs. These fraudsters bring out sensitive personal data through text messages or spam calls pretending to be the bank representative.

An initiative of the Government of India, this portal helps in raising complaints to report cybercrime complaints online. This portal caters to complaints pertaining to cybercrimes only with a special focus on cybercrimes against women and children.  

Law enforcement agencies or police investigate the matter after complaints raised on this portal. Therefore, it is advisable to give correct and accurate details while filing a complaint about prompt action. 

SBI has further come up with a few safety tips that need to be followed in order to prevent KYC fraud from happening. The safety tips are that customers should think before clicking any link. The Bank never sends links to update KYC and doesn’t share your mobile and confidential data with anyone.  

KYC is basically required by banks to cross-check their customers’ identity. Considering the pandemic situation, the Reserve Bank of India (RBI) had asked banks not to impose any punitive restriction against customers if they fail to update their KYC till 31 December 2021. 

SBI said that if their customers notice any unauthorised transaction in their bank account, they must report it immediately to the toll-free customer care numbers, apart from complaining to the national cybercrime portal. 

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New Delhi: In a recent notification, the Reserve Bank of India (RBI) has allowed the banks to raise the charges for cash and non-cash ATM transactions beyond the threshold of the free monthly limit. From next year onwards, bank customers will have to pay Rs 21 per transaction instead of Rs 20 if they exceed the monthly limit of free transactions.

What are the banks’ charges?

Most private and public banks in India currently allow five free ATM transactions (inclusive of financial and non-financial transactions) in urban cities and towns from their own bank ATMs. In case you have exhausted the monthly limit, then there are small charges by the bank that customers need to bear to keep the ATMs functional.

ALSO READ: IRCTC Update: Now, Get Instant Refund For Cancelled Online Tickets. Check Details

Besides, these charges, effective August 1, 2021, banks are also allowed to increase interchange fees per transaction from Rs15 to Rs17 for financial transactions and from Rs5 to Rs6 for non-financial transactions in all centres, according to the RBI circular.

But some private banks are offering unlimited free ATM transactions to their customers including IndusInd Bank and IDBI Bank.

IDBI Bank offers free ATM transactions in line with the RBI prescribed minimum free limits. It also offers five free transactions at its own ATMs while in other Bank ATMs, it offers three transactions free at six metro locations and five transactions free at other locations. “The bank however offers unlimited free ATM transactions in few select product variants as per the product design,” informed Jorty Chacko, Executive Director of IDBI Bank to the business publication Mint.

IndusInd Bank also offers unlimited free ATM transactions at any bank ATM in India. “Unlimited Free ATM Withdrawal with your IndusInd Bank Debit Card across any ATM in India,” says the bank’s website.

In fact “Citi Bank still offers unlimited free transactions,” as per the BankBazaar website.

Meanwhile, the country’s largest lender State Bank of India (SBI) allows unlimited transactions at State Bank Group (SBG) ATMs for those customers who maintain an average balance of more than Rs25,000 in their savings accounts. Those maintaining an average balance of more than Rs1,00,000 in their savings accounts will also be eligible for unlimited transactions at SBG ATMs as well as other banks ATMs. SBI had revised its ATM withdrawal rules on 1 July 2020.

New Delhi: State Bank of India’s (SBI) online services such as internet banking YONO and UPI, among others, will come to a temporary halt, as the country’s largest state-owned bank is all set to undergo maintenance activities once again in June. 

SBI said that its internet banking services will remain unavailable on June 20 for about 40 minutes so that it can work on its scheduled maintenance activities. The bank took it to Twitter to update users about the unavailability of the services. 

“We request our esteemed customers to bear with us as we strive to provide a better banking experience,” SBI tweeted. In a message along with its tweet, the bank said that it’ll be undertaking maintenance activities between 01:00 hrs and 01:40 hrs on 20.06.2021. Also Read: Brace yourselves ‘Jamtara’ scamsters! National helpline launched to trace online frauds, check details

“During this period, Internet Banking / YONO / YONO Lite / UPI will be unavailable. We regret the inconvenience caused and request you to bear with us.” 

We request our esteemed customers to bear with us as we strive to provide a better banking experience.#InternetBanking #YONOSBI #YONO #ImportantNotice pic.twitter.com/vW41S6HhxW

— State Bank of India (@TheOfficialSBI) June 18, 2021

Prior to this, SBI’s internet banking, YONO, YONO Lite and UPI services were temporarily unavailable on June 17 for a few hours. Similarly, there have been many outages in the bank’s digital offering in the last few weeks due to regular maintenance. 

It is important to note that these scheduled maintenances improve our digital banking experience. The bank also fixes flaws to make digital banking safer than ever. 

In terms of network and reach, SBI is the country’s largest bank. It operates more than 22,000 branches across the country along with a strong network of 57,889 ATMs.  Also Read: Indians’ black money increased in Swiss banks? Check what Centre has to say

New Delhi: If you’re a State Bank of India (SBI) customer and have lost your debit card, then you don’t need to visit the bank to block the old card and get a new one. In such cases, you just need to call SBI’s toll-free numbers to avail the service. 

For immediately blocking your old card, you can call on toll-free numbers 1800112211 and 18004253800, which are basically, SBI’s customer care numbers for its urgent banking services. You can dial the same number to request a new debit card in case you lose your old card. Also Read: Yamaha FZ-X launched in India, check price, features and other details

SBI took to Twitter to aware its users of the toll-free numbers offered by the bank for urgent banking services. SBI said, “Stay safe at home, we are there to serve you. SBI provides you with a contactless service that will help you with your urgent banking needs. Call our toll free number 1800 112 211 or 1800 425 3800.”

Stay safe at home, we are there to serve you. SBI provides you a contactless service that will help you with your urgent banking needs.
Call our toll free number 1800 112 211 or 1800 425 3800.#SBIAapkeSaath #StayStrongIndia #SBI #StateBankOfIndia #IVR #TollFree pic.twitter.com/om4SiygNKd

— State Bank of India (@TheOfficialSBI) June 16, 2021

One of the major reason behind offering the toll-free numbers is that the bank doesn’t want you to visit any of its branches amid the COVID-19 pandemic for services that can be easily availed over a phone call or online portal. 

Besides blocking a debit card or raising a request for a new one, SBI customers can also use the toll-free number to avail several other urgent banking services, such as generation of a debit card or credit card PIN, checking bank account balance. You can also call the number to know your last five transactions. Also Read: WhatsApp Tricks: Can you schedule messages? Here’s what you need to do