Banking: ATM Fraud

Fraudsters siphoned Rs26,000 from a lawyer’s ICICI Bank account in a case of a tampered ATM in south Mumbai. Rita Yadav had inserted her debit card in one of the three kiosks in the bank premises. The main page on the monitor got activated when Ms Yadav swiped her card but the keypad was non-functional. So she moved to another ATM. When she faced a similar problem, she moved to the third ATM and withdrew Rs1,000. After withdrawing Rs1,000, Ms Yadav received a text message from the Bank. But, within five minutes, she received another alert showing Rs26,000 had been debited from her bank account. ICICI Bank has refunded the money.

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RuPay Card Base To Touch 25mn by March: NCPI

The National Payment Corporation (NPCI) plans to almost double the number of RuPay Cards, to 25 million, by the end of March. So far, 14 million RuPay cards have been issued. RuPay Card, India’s answer to Visa and MasterCard, which control the domestic plastic money market, was launched in April 2012.

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Retirement : EPFO Approves Rs1,000 Minimum Monthly Pension

Trustees of EPFO (Employees’ Provident Fund Organisation) approved a proposal to provide a minimum monthly pension of Rs1,000, a decision that will benefit about 2.8 million pensioners. The Central Board of Trustees (CBT), the apex decision-making body of EPFO, also decided to raise the monthly wage ceiling for eligibility to Rs15,000, from Rs6,500, by amending the EPF scheme, 1952, so that more workers can be brought under its various social security programmes.

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