rbi

Hi members, On 4 December 2022 I booked an FD with SBM to get FD backed Paisabazar Rupay credit card. One year later, on January 2024 I received SMS that credit card has been closed due to non-usage. There was no prior intimation in non-compliance to RBI, escalated, got to RBI BO, got...

Story - Made a UPI txn of Rs 1400 from Mobikwik wallet to another person (AC service technician) on October 7. Payment was pending. Later when i checked status of the transaction under help and support section, it showed that payment was unsuccessful and refund will be processed in 2 working...

The Reserve Bank of India has canceled the license of The Durga Co-operative Urban Bank, based in Vijayawada, Andhra Pradesh, due to inadequate capital and earning prospects. The bank will cease operations on November 12, 2024.

Hello On 11 October 24 I had paid credit card bill through mobikwik pocket UPI and the transaction was successful from mobikwik s end and money got debited from wallet but I received a message from they your payment has failed it would be refunded within 5 days . But after 5 days it was not...

Hi Guys As we all know Axis rewards portal had an issue during January of this year. where all the reward point transactions were reversed. Now they credited back around 11th of March. I noticed not all the reversed points were credited back. I am fighting with axis since end of August on...

Hello Technofino community members, I'm reaching out to inform you about a complaint I filed today against Transactree Technologies Private Limited. On October 2nd, I discovered an unauthorized loan appearing on my CIBIL report—a loan I never took. I immediately contacted Transactree via...

According to RBI guidelines, if a bank wishes to make changes to a credit card’s benefits or terms and conditions, the issuer must provide a one-month advance notice to all customers of the specific product. If a customer doesn’t respond, the bank may consider this as consent to continue using...

RBI grants online payments aggregator license to Jio Financial arm JSPL Jio Financial, helmed by veteran banker K.V. Kamath, already runs a shadow bank and an insurance brokerage and has joined forces with BlackRock Inc. to start an asset management business The Reserve Bank of India (RBI) has...

I wanted to share my recent experience with Kotak Bank concerning the closure of my savings account. What should have been a simple process ended up being a prolonged ordeal with significant inconvenience, despite multiple follow-ups. I hope sharing this experience will help others understand...

I registered a complain against UBI on 28/AUG at Ombudsman but till date no response either from bank or from ombudsman? This is the first time it is taking so much time? Any solution?

Hello everybody One of my first credit card - OneCard by SBM Bank India. Issued - 5 Sep 2022 Closed - 8 Sep 2023 Last Credit reporting to CIBIL & Experian - May 2024 Just with above information, any stupid person will also understand that the bank is reporting my payments even after closure of...

I had applied for a LTF Elite+ card from yes bank on 25th September. So once the cibil enquiry wasted done, I was sent to the offered cards page with an array of emotion. Dismay and surprise at the same time. I was offered another card - Reserv card instead of ELITE+. That too paid version, not...

My sbm bank saving account permanently closed on 2023 but yesterday I received WhatsApp message from sbm bank to reactivate my closed account by doing vkyc but I heard that once saving account closed permanently we cannot reopen the same account so I want to know that any one reopened their...

The RBI announced a beneficiary account name look-up facility to enable remitters in RTGS and NEFT to verify the name of the beneficiary account holder before initiating funds transfer. This is a huge benefit for us. No need to make those ₹1 transactions after adding the beneficiary. It may take...

Dear members, Background: In Dec '22 I got Paisabazar FD Step Up Rupay CC by SBM bank. 1 yr later in Dec '23 received an SMS that it has been closed due to non-usage. Looked up the RBI rule on it and learnt bank must inform customer 30 days prior and give opportunity to respond before...

Hey Guys As the topic suggests, I filed an RBI Ombusman Complaint against IDFC First Bank over Delay in Closure of my CC. Here's the Flow of Events: June 23 - Card Closed. July 23 - Bank said they need 90 days time to close card on CIBIL. Dec 23 - Raised grievance with CIBIL over closed card...

I have a sbi card which is 2 years old and they have converted it to LTF. I recently applied for sbi BPCL card (499rs variant) but my application was declined. I mailed the customer support to reconsider my application and give exact reason for refusal. They are not giving any proper...

I recently encountered a concerning issue with BoBCard, which seems to be violating RBI guidelines on credit card activation and reporting. After applying for the Eterna Credit card, I got an approval, and the card was reflected in the banking app instantly. However, here’s where things went...

I have paid credit card bill of Rs100 on mobikwik through my Sbi debit card on 3 Sept to sbi credit card but the payment failed at mobikwik end. So mobikwik initiated refund of that transaction and on 9 Sept I received 100 rs refund. But as per RBI guidelines banks have to pay rs 100...