Tag: state bank of india

Technology

Embattled Paytm’s Vijay Shekhar Sharma steps down from payments bank board in wake of RBI crackdown

Indian digital payments firm Paytm said on Monday Vijay Shekhar Sharma would step down as non-executive chairman and board member of its payments bank's unit, as the embattled company overhauls its board in the wake of a central bank clampdown.Paytm likely to partner with four banks for enabling UPI transactions, sources sayTroubledPaytm is likely to partner with Axis Bank, HDFC Bank, State Bank of India and Yes Bank for processing transactions via the popular unified payments interface (UPI), two sources aware of the development said. The central bank has asked Paytm Payments Bank, the banking unit of Paytm to wind down its business by March 15, leading to disruption for the popular payment app. UPI is India's real-time payments system, operated by the National Payments Corporation of...
Technology

Need to build Indian AI data for common man’s daily use, says Ola founder Bhavish Aggarwal

 Artificial Intelligence (AI) will be a very strong force for cultural assimilation and the country should build it with Indian data for common man's daily use, Ola founder Bhavish Aggarwal said on Saturday. Speaking at the 12th edition of INSIGHT: The DNA of Success, held at the Isha Foundation here, Aggarwal, stressed upon the pivotal role of AI in cultural assimilation and daily utility.Isha Foundation founder Sadhguru said AI would grow more rapidly than even the people in technology could imagine. "I hope it happens more rapidly than it's happening now so that human beings can realise the value of 'being' and how to be will become the most valuable thing in the world," Sadhguru said. We are now on WhatsApp. Click to join.Ola Electric raises ₹3,200 cr to fund EV bizNotably, in Oct...
Technology

Can banks handle their own Banking as a Service?

Indian Fintech is big and has helped many an industry achieve low-cost profits and customer experience, and banking is among the top. Indian FinTech is a formidable force to be reckoned with, with the finance ministry saying that the market will reach about US$160 billion by 2025. According to a 2022 report by BLinc Invest, the Indian FinTech market is already the world's third largest. But being a FinTech and being a bank are different things. Yes, India is big on FinTech. But where does Indian banking stand when it comes to controlling its Banking as a Service (BaaS)?  The Indian market has been evolving its BaaS business models with many banks having started these initiatives in the past 12-18 months. This has been fuelled by the Central Bank's push towards digitalization.  Today,...
Technology

SBI server down! UPI, YONO hit by outage- Here’s how customers reacted

Are you the customer of the State Bank of India (SBI) and facing issues while making UPI payments? Well, that is because SBI server is down. The bank has been receiving multiple complaints saying that the bank server is not responding. Because of the SBI outage, people are facing trouble in availing services like net banking, making UPI payments, and more.Down Detector India has informed about the same via a tweet saying, "User reports indicate State Bank of India (SBI) is having problems since 9:19 AM IST. http://downdetector.in/status/state-bank-of-india-sbi/ RT if you're also having problems #StateBankofIndia(SBI)down." According to the information provided by Down Detector most reported problems are related to online banking with 65 percent, followed by online login (25 percent) an...
Technology

SBI YONO Fake PAN Card ALERT! Messages asking account holders to update online are by fraudsters

The government has warned the customers of SBI YONO about a fake message asking to update PAN card details. Are you a customer of the State Bank of India (SBI)? If yes, here is an important alert message for you. If you have received any message in the name of SBI asking you to update your PAN number in order to avoid getting your account blocked then do not fall into the trap, as this message is fake. As per the information, several SBI customers have received a message saying that their YONO account has been closed and they need to update their PAN number to reactivate their SBI YONO account. "Dear Customer your SBI YONO Account Closed Today Contact now And Update your PAN NUMBER in the following link," the fake message re...