Preventing Credit Card Frauds

Last week, there were two interesting news items about credit cards. One was a bill of $23 quadrillion (1 quadrillion is 1015 or one Padma in the Indian context), sent by Visa to some of its customers in the US. And the second one was about the Mumbai Police arresting a couple for buying goods using fake credit cards. In the first case, customers were wrongly billed by the company; in the...

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  • India loses Rs116.4 billion a year on poor customer service: study
    Business in India lose up to Rs116.4 billion in revenue every year due to poor service as customers abandon transactions or end relationships when companies do not meet their expectations, a survey says.

    India loses Rs116.4 billion ($2.46 billion) due to poor customer service every year in revenue due to inability to meet customer expectations," a survey conducted by Greenfield...

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  • SBI Q1 net profit up 42% on higher interest, revenues
    State-run lender State Bank of India (SBI) reported a 42% higher first quarter net profit on a healthy growth in treasury, wholesale and retail banking operations as well as in revenues, especially the interest revenues.

    For the quarter to end-June, SBI said its net profit rose to Rs23.3 billion from Rs16.4 billion while total revenues, including interest revenues, grew 29.8% to...

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