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Beena Parmar

Beena Parmar has been is a banking and finance journalist for over 10 years. Apart from BFSI, she covers the private equity and venture capital space. Beena loves to read about politics, society.

Articles by Beena Parmar

Online sale of bank notes gains currency

While websites, including eBay and OLX, are listing notes of varied denominations for sale, a simple Google search throws up an aggregator website, for-sale-in, which gives information about all deals available online on the sale of currency notes.

While websites, including eBay and OLX, are listing notes of varied denominations for sale, a simple Google search throws up an aggregator website, for-sale-in, which gives information about all deals available online on the sale of currency notes.
Updated on Nov 24, 2016 11:18 AM IST
Hindustan Times | ByAnirban Ghoshal and Beena Parmar, New Delhi/mumbai

Nearly 1 lakh ATMs recalibrated till today: Will it become easier to withdraw cash?

Close to one lakh ATMs, which account for about 45% of the cash vending machines in the country, will be recalibrated by Wednesday morning and made ready to dispense currency notes of Rs 500 and Rs 2,000, officials have said.

People queue outside an ATM of State Bank of India (SBI) to withdraw money in Kolkata.(Reuters File Photo)
Updated on Nov 23, 2016 10:59 AM IST
Hindustan Times | By, Mumbai

Now buy paan or chaat through the m-wallet

You can soon buy your vegetables, fruits, your favourite paan and even the road-side chaat food through Paytm, Mobikwik, Freecharge or JioMoney.

You can soon buy your vegetables, fruits, your favourite paan and even the road-side chaat food through Paytm, Mobikwik, Freecharge or JioMoney.(HT File Photo)
Published on Nov 23, 2016 10:12 AM IST
Hindustan Times | By, Mumbai

Small merchants can transfer up to Rs 50K via digital wallets till Dec 30: RBI

Small merchants can now transfer funds up to Rs 50,000 through semi-closed prepaid instruments (PPIs) linked to bank accounts.

Prepaid instruments can be issued as smart cards, magnetic stripe cards, internet accounts, internet wallets, mobile accounts, mobile wallets, paper vouchers and any such instrument which can be used to access a pre-paid amount.(Representative Photo)
Updated on Nov 22, 2016 11:06 PM IST
Hindustan Times | By, Mumbai

Demonetisation: Breather for borrowers, cash rules tweaked for farmers

The government provided on Monday a breather for borrowers saddled with the cash crunch in the country, giving additional 60 days to repay home, car, farm and other loans worth up to Rs 1 crore.

Members of the Congress protest against the Centre’s demonetisation move, in Coimbatore on Monday.(PTI)
Updated on Nov 22, 2016 01:16 AM IST
Hindustan Times | ByMahua Venkatesh, Aloke Tikku, Beena Parmar, New Delhi/mumbai

2.5 lakh cash withdrawal allowed for weddings: All you need to know

Only one person per family with an upcoming wedding on or before December 30, 2016, can withdraw up to ₹2.5 lakh, the Reserve Bank of India said in a statement on Monday.

Here’s a look at the RBI guidelines for <span class='webrupee'>₹</span>2.5 lakh withdrawal for families with upcoming weddings.(Shutterstock/ Representative image)
Updated on Feb 17, 2020 11:07 PM IST
Hindustan Times | By, New Delhi

Demonetisation will lead to 6 months of chaos: Ex-RBI deputy guv Chakrabarty

Former deputy governor of RBI KC Chakrabarty says demonetisation has affected the poor the most as rich people don’t keep cash.

Former deputy governor of RBI KC Chakrabarty says demonetisation has affected the poor the most as rich people don’t keep cash.(HT file photo)
Updated on Nov 21, 2016 09:13 AM IST
Hindustan Times | By

Bandhan Bank CEO says MFIs may lose Rs 1,700cr due to note ban

Bandhan Bank, which was one of the largest micro finance institutions before it became a bank last year, has suspended its micro-credit disbursement after the government demonetised ₹500 and ₹1,000 notes on November 8. Bandhan still has a large micro lending business.

Bandhan Bank, which was one of the largest micro finance institutions before it became a bank last year, has suspended its micro-credit disbursement after the government demonetised ₹500 and ₹1,000 notes on November 8. Bandhan still has a large micro lending business.
Updated on Nov 18, 2016 12:33 PM IST
Hindustan Times | ByBeena Parmar and Ramsurya Mamidenna

Over 4 lakh crore cash deposited in banks in five days

Indian Banks’ Association chairman Rajeev Rishi said, “As per the data, banks have got deposits worth ₹3,85,056 crore till November 14. The amount could be much more as some banks’ data is still not available with us. We collated the amount from 21 public sector banks, about 6 cooperative banks and 7-8 private banks.”

Indian Banks’ Association chairman Rajeev Rishi said, “As per the data, banks have got deposits worth ₹3,85,056 crore till November 14. The amount could be much more as some banks’ data is still not available with us. We collated the amount from 21 public sector banks, about 6 cooperative banks and 7-8 private banks.”
Updated on Nov 17, 2016 11:45 AM IST
Hindustan Times | By, Mumbai

Raghuram Rajan preferred other ways over demonetisation to tackle black money

Former RBI governor Raghuram Rajan didn’t think much of demonetisation and said there are other ways of tackling black money.

Former RBI governor Raghuram Rajan with the present governor Urjit Patel. Former Rajan didn’t think much of demonetisation and said there are other ways of tackling black money.(PTI file photo)
Updated on Nov 16, 2016 08:59 AM IST
Hindustan Times | By, Mumbai

RBI waives charges on ATM transactions for all banks till December 30

The Reserve Bank of India (RBI) on Monday waived charges for ATM transactions till December 30 at one’s own bank as well as others

People queue outside a ATM to withdraw money in Siliguri on November 14, 2016.(AFP)
Updated on Nov 14, 2016 11:09 PM IST
Hindustan Times | By, New Delhi

Enough cash available, don’t hoard, RBI tells people

The Reserve Bank of India on Sunday said enough cash was available and people should not panic and “hoard” money, as queues outside banks and ATMS grew longer and tempers ran short.

People queue up outside the Reserve Bank of India to deposit and exchange Rs 500 and Rs 1000 currency notes, in New Delhi.(AFP Photo)
Updated on Nov 13, 2016 11:47 PM IST
Hindustan Times | By, Mumbai

Despite Rs 4000-cap on money exchange, loophole allows multiple transactions

The government may have announced a Rs 4,000-cap on exchanging demonetised 500 and 1000 rupee notes for valid money till November 24 , but citizens are managing to make multiple such transactions.

People queue outside a bank to change their devalued money on November 11.(HT Photo)
Updated on Nov 13, 2016 01:43 AM IST
Hindustan Times | By, Mumbai

Consumers exchanged 500, 1000 rupee notes worth Rs 10 crore: RBI

The Reserve Bank of India said on Saturday that exchanges worth Rs 10 crore were made for the demonetised denominations of Rs 500 and Rs 1000.

People exchange the Rs 500 and 1000 notes at a special camp organised by a public sector bank in Chennai.(PTI Photo)
Updated on Nov 12, 2016 07:11 PM IST
Hindustan Times | By, Mumbai

Cash crunch, ATM under-utilisation, logistical issues make demonetisation a pain

Three days after the government scrapped the validity of high-value Rs 500 and Rs 1,000 currency notes, banks are finding it difficult to meet the rush in demand for 100 rupee and lower denomination notes.

A guard takes a nap in front of closed ATMs in Lucknow on Friday.(PTI)
Updated on Nov 12, 2016 01:54 PM IST
Hindustan Times | By, Mumbai

Just 35,000 personnel to replenish 16 lakh crore in ATMs

In long meetings with the Reserve Bank of India for the past two days, ATM companies and other stakeholders rolled out the plan to pull out ₹500 and ₹1,000 notes out of the system and meet the unprecedented demand for ₹100 notes.

(HT Photo)
Published on Nov 11, 2016 12:56 PM IST
Hindustan Times | By

ATMs functioning at 10% capacity, quick relief unlikely for customers

Mumbai resident Aesha has been on the hunt for cash since early Friday morning but is still unsure if she will get her hands on any banknotes. She has been to three ATMs but found only one functional – with scores of people already queued up.

Many ATMs in big cities continue to be out of service as agencies said they were racing against time to keep filling up 220,000 ATMs with just 8,800 currency vans and a manpower of 35,000 people.(Mohd Zakir/HT Photo)
Updated on Nov 11, 2016 01:25 PM IST
Mumbai, Hindustan Times | By

Chaos reigns at banks, ATMs as people rush to ditch worthless banknotes

Indians woke up on Thursday to chaos and confusion. It was easy to spot banks, ATMs and post offices in any town, big or small.

Rush at the State Bank of India’s Central Market, Lajpat Nagar branch, right before it opens.(Saumya Khandelwal/HT Photo)
Updated on Nov 11, 2016 08:10 AM IST
Hindustan Times | ByMahua Venkatesh and Beena Parmar, New Delhi/mumbai

Discounts on digital cash in Modi’s war against #BlackMoney

Eyeing an aggressive push towards cashless payments, discounts on debit and credit card transactions are being offered by banks and payment companies to cash in on the ban on Rs 500 and Rs 1000 denomination currency notes.

Eyeing an aggressive push towards cashless payments, discounts on debit and credit card transactions are being offered by banks and payment companies to cash in on the ban on Rs 500 and Rs 1000 denomination currency notes.(Reuters)
Updated on Nov 10, 2016 08:47 PM IST
Hindustan Times | By, Mumbai

Interest rates head southward as banks eye more deposit base

The government’s move to ban R500 and R1,000 currency notes on Tuesday to curb black money from the system will also see inflationary worries getting addressed, given the moderation in currency circulation among the public.

The government’s move to ban R500 and R1,000 currency notes on Tuesday to curb black money from the system will also see inflationary worries getting addressed, given the moderation in currency circulation among the public.
Updated on Nov 10, 2016 02:03 PM IST
Hindustan Times | By

Banks extend work timings by two hours on Nov 10-11, to be open this weekend too

Banks will work an extra two hours on November 10 and 11 and will also remain open over the weekend to help customers queuing up to deposit their 500 and 1000 rupee notes.

A railways staff counts currency notes of Rs 500 at a ticket counter, one of the few places still accepting the scrapped higher denomination notes, in Allahabad on November 9, 2016.(AP)
Updated on Nov 09, 2016 07:42 PM IST
Hindustan Times | By, Mumbai

Banks brace for cash flows, in talk with ATM operators for smooth transition

The government’s move to demonetise Rs500 and Rs1,000 notes also push up logistical costs for banks as lenders have to send the cash loading agencies more frequently to load cash into ATMs

HT Image
Updated on Nov 09, 2016 04:34 PM IST
HT Correspondent | By

Forgot your password? Soon card transactions with fingerprint scan

Next year, you may be able make payments through an eye or a finger scan, no longer needing your debit/credit card PIN or password.

A customer uses his card to withdraw money from an ATM.(Reuters)
Updated on Nov 04, 2016 11:21 AM IST
Hindustan Times | By, Mumbai

ICICI Bank, HDFC cut home loan rates; others set to follow

Taking a cue from State Bank of India, ICICI Bank on Thursday reduced interest rates for home loan borrowers. The offer is valid from November 1 to November 30.

Updated on Nov 04, 2016 11:34 AM IST
Hindustan Times | By, Mumbai

After SBI, ICICI Bank cuts home loan rates, other banks likely to follow

After State Bank of India (SBI), India’s largest bank, slashed interest rate on home loans, other lenders including ICICI bank and HDFC are likely to follow suit and reduce home loan rates.

Buyers who shift their home loan from one bank to the another are treated as new borrowers by lenders, making them eligible for the new interest rates.(HT Archive)
Updated on Nov 03, 2016 02:57 PM IST
Hindustan Times | By, Mumbai

Banks take a cautious approach as credit card loans rise

Banks, already saddled with high non-performing assets, (NPAs) have a new problem in hand — rising credit card usage and an increase in loan amount against such cards.

Banks, already saddled with high non-performing assets, (NPAs) have a new problem in hand — rising credit card usage and an increase in loan amount against such cards.(REUTERS)
Updated on Nov 02, 2016 01:51 PM IST
Hindustan Times | By, Mumbai

Banks face the credit card conundrum

Credit card usage is fuelling fears for private banks owing to slowing growth from uncertainties in loan usage, which stems from fewer jobs and meagre salary hikes.

Credit card usage is fuelling fears for private banks owing to slowing growth from uncertainties in loan usage, which stems from fewer jobs and meagre salary hikes.(Shutterstock)
Published on Oct 31, 2016 12:47 PM IST
Hindustan Times | By, Mumbai

Debit card breach puts spotlight on outsourcing of ATM services

Last week some debit cards of leading banks such as SBI, ICICI Bank, HDFC Bank, Axis Bank and Yes Bank, used at regular ATMs and at maintained by third-party agencies, had been involved in suspicious transactions over a three months, with about ₹1.03 crore ‘disappearing’.

A customer uses his card to withdraw money from an ATM.(Reuters)
Updated on Oct 24, 2016 10:28 AM IST
Hindustan Times | By, Mumbai

Banks need to raise firewalls to protect debit cards

Following the security breach that led to data of almost 3.2 million debit cards getting compromised, banks need to adopt multiple-level authentication, install improved firewalls and employ only a fixed number of softwares at their ATMs, experts said.

Following the security breach that led to data of almost 3.2 million debit cards getting compromised, banks need to adopt multiple-level authentication, install improved firewalls and employ only a fixed number of softwares at their ATMs, experts said.
Updated on Oct 22, 2016 01:30 PM IST
Hindustan Times | By, Mumbai

Debt-hit firms selling assets, but Jaypee shows how loans remain

The move to cut bad loans that have been impacting profitability of India’s top banks has pushed many debt-ridden companies to sell assets over the past three years.

Manoj Gaur, executive chairman and CEO of Jaypee Group.(Mint File)
Published on Oct 21, 2016 11:31 AM IST
Hindustan Times | ByBeena Parmar and Ramsurya Mamidenna, Mumbai
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