Latest news with #NEFT
Time of India
8 hours ago
- Time of India
Man duped in med equipment scam
Udupi: A man lost nearly Rs 1.8 lakh in an online medical equipment scam. Complainant Sadiq Abbu Haji,49, stated that an unknown individual began sending details of medical equipment to the complainant's WhatsApp number in Jan. However, on June 24, the complainant called the sender, who identified himself as the owner of a company in Delhi, claiming to deal in medical equipment. Trusting him, the complainant transferred Rs 80,000 via NEFT to purchase two CPAP machines. The individual sent the two machines as promised. Believing the sender to be genuine, the complainant again transferred Rs 1 lakh via NEFT on July 7 to purchase two upgraded CPAP machines. However, this time, the individual neither delivered the equipment nor refunded the money. Based on this, a case was registered at Udupi Town police station under Sections 318(4) of the BNS and 66(D) of the IT Act.
Time of India
3 days ago
- Politics
- Time of India
Income tax department uncovers donation scam involving unrecognised political party in Chhatrapati Sambhajinagar
Chhatrapati Sambhajinagar: In ongoing searches carried out by the income tax department at more than 200 locations across the country for false deductions by political parties, the I-T teams in Chhatrapati Sambhajinagar unearthed a massive scam involving crores of rupees routed through an unrecognised political party under the guise of donations eligible for tax deductions under section 80GGC of the Income Tax Act, 1961. As part of the action, the IT teams conducted searches at five different locations in the city, including those belonging to a chartered accountant. "The party at the centre of this scam is Yuva Bharat Atmanirbhal Dal, formerly operating under the name Save Merit Save Nation, and registered in Chhatrapati Sambhajinagar. The discreet investigation carried out for the past several months revealed the party received hundreds of crores in donations directly into its bank accounts via RTGS, NEFT, and IMPS from a large number of individuals, primarily salaried taxpayers, who then claimed tax deductions under section 80GGC," said sources. Investigations revealed a large portion of these so-called donations were never retained by the party. Instead, the funds were systematically rotated back to the donors or their close associates. In many instances, the money was rerouted to the donor's family members, Hindu Undivided Family (HUF), or intermediary shell entities. The political party is believed to have kept a fixed percentage as commission for facilitating the circular transactions. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo The I-T department reportedly traced the entire chain of fund movement, and notices have already been issued to several donors across Maharashtra and other states. Adding to the gravity of the case, the party in question failed to file mandatory reports with the Election Commission and began receiving donations even before being officially registered under section 29A of the Representation of the People Act, 1951 — a legal requirement for any political entity to lawfully accept donations. The I-T department has issued advisory communications to all identified donors of Yuva Bharat Atmanirbhal Dal, urging them to file updated returns under section 139(8A) of the Income Tax Act. Failure to comply may attract strict penal consequences.
Economic Times
4 days ago
- Business
- Economic Times
SBI, Kotak Bank scheduled maintenance: UPI, net banking, NEFT services to be temporarily unavailable on these days
ET Online Kotak and SBI Bank downtime Customers of State Bank of India (SBI) and Kotak Mahindra Bank should note that these banks have announced scheduled maintenance activities this week during which several key digital banking services will be temporarily unavailable. The affected services include Unified Payments Interface (UPI), Immediate Payment Service (IMPS), YONO, Retail Internet Banking (RINB), Automated Teller Machine (ATM) services, National Electronic Funds Transfer (NEFT), and Real-Time Gross Settlement (RTGS) will be temporarily unavailable from between 1 AM and 2 AM on July 16, 2025. However, during the said period, customers are advised to use UPI Lite. SBI revises FD interest rate on these fixed deposits: Check latest SBI FD interest rate According to SBI social media post, 'Due to scheduled maintenance activity, our services UPI, IMPS, YONO, RINB, ATM, NEFT and RTGS will be temporarily unavailable from 01:05 hrs to 02:10 hrs on 16.07.2025 (IST). These services will resume by 02:10 hrs on 16.07.2025 (IST).' What is UPI LITE? UPI LITE is a new payment solution to process low value transactions that have been set at below Rs is how to enable UPI LITEStep 1: To enable UPI LITE, user has to open his/her UPI AppStep 2: On the home screen of the App, the user will get the option to enable UPI LITE. Click on the optionStep 3: User reads and accepts the terms & conditionsStep 4: User enters the amount to add in UPI LITE and select the bank accountStep 5: User enters UPI PINUPI LITE will be enabled successfully! Kotak Mahindra Bank maintenance date and time Kotak Mahindra Bank will carry out maintenance on multiple dates, impacting various digital servicesThese services will not be available as per the details mentioned below. Date Services unavailable 17th July (Thursday) & 18th July (Friday) NEFT via Net banking & Mobile banking 12.00 am to 02.00 am 20th July (Sunday) & 21st July (Monday) Net banking, Mobile banking, UPI 12.00 am to 02.00 am 20th July (Sunday) & 21st July (Monday) Payment Gateway 12.00 am to 03.00 am Source- Bank mail N.R. Narayana Murthy Founder, Infosys Watch Now Harsh Mariwala Chairman & Founder, Marico Watch Now Adar Poonawalla CEO, Serum Institute of India Watch Now Ronnie Screwvala Chairperson & Co-founder, upGrad Watch Now Puneet Dalmia Managing Director, Dalmia Bharat group Watch Now Martin Schwenk Former President & CEO, Mercedes-Benz, Thailand Watch Now Nadir Godrej Managing Director, of Godrej Industries Watch Now Manu Jain Former- Global Vice President, Xiaomi Watch Now Nithin Kamath Founder, CEO, Zerodha Watch Now Anil Agarwal Executive Chairman, Vedanta Resources Watch Now Dr. Prathap C. Reddy Founder Chairman, Apollo Hospitals Watch Now Vikram Kirloskar Former Vice Chairman, Toyota Kirloskar Motor Watch Now Kiran Mazumdar Shaw Executive Chairperson, Biocon Limited Watch Now Shashi Kiran Shetty Chairman of Allcargo Logistics, ECU Worldwide and Gati Ltd Watch Now Samir K Modi Managing Director, Modi Enterprises Watch Now R Gopalakrishnan Former Director Tata Sons, Former Vice Chairman, HUL Watch Now Sanjiv Mehta Former Chairman / CEO, Hindustan Unilever Watch Now Dr Ajai Chowdhry Co-Founder, HCL, Chairman EPIC Foundation, Author, Just Aspire Watch Now Shiv Khera Author, Business Consultant, Motivational Speaker Watch Now Nakul Anand Executive Director, ITC Limited Watch Now RS Sodhi Former MD, Amul & President, Indian Dairy Association Watch Now Anil Rai Gupta Managing Director & Chairman, Havells Watch Now Zia Mody Co-Founder & Managing Partner, AZB & Partners Watch Now Arundhati Bhattacharya Chairperson & CEO, Salesforce India Watch Now
Time of India
12-07-2025
- Business
- Time of India
Saturday bank holiday: Are banks open or closed today on July 12, 2025?
Are banks open or closed today on July 12, 2025? Banking services which will be impacted Academy Empower your mind, elevate your skills Digital banking Bank holidays in July 2025 Following is a list of bank holidays in July 2025 Jul-25 3 5 14 16 17 19 28 Agartala • • Ahmedabad Aizawl Belapur Bengaluru Bhopal Bhubaneswar Chandigarh Chennai Dehradun • Gangtok • Guwahati Hyderabad Imphal Itanagar Jaipur Jammu • Kanpur Kochi Kohima Kolkata Lucknow Mumbai Nagpur New Delhi Panaji Patna Raipur Ranchi Shillong • • Shimla Srinagar • Thiruvananthapuram Vijayawada Holiday Description Day Kharchi Puja 3 Guru Hargobind Ji's Birthday 5 Beh Deinkhlam 14 Harela 16 Death Anniversary of U Tirot Singh 17 Ker Puja 19 Drukpa Tshe-zi 28 Many customers are wondering whether banks will be open on Saturday, July 12, 2025. As per the Reserve Bank of India's (RBI) holiday schedule, all banks across India remain closed on the second and fourth Saturdays of every will be closed on July 12, 2025, as it is the second Saturday of the July 12, 2025, customers will not be able to access in-branch services such as cash withdrawals or deposits at bank counters, cheque clearances, loan services among read: Get FD interest rate up to 8.1%: Check which bank is offering highest interest rate on FDs with 444-day tenure While the second and fourth Saturday rule applies nationwide, additional regional bank holidays may vary from state to state based on local festivals and events. You can check the RBI's holiday calendar or check with your respective bank's website to confirm if any additional holidays apply in your to the second Saturday holiday, physical bank branches will not be open on Saturday, July 12, 2025. However, digital banking services will be fully functional. Through ATMs, users can still perform a variety of financial operations, including cash withdrawals, balance queries, and mini statements. Additionally, banks provide access to services including fund transfers, bill payments, account management, and loan EMI payments through their mobile banking apps and internet banking. Even on bank holidays, UPI (Unified Payments Interface) and other digital payment systems like NEFT, IMPS, and wallets will continue to operate normally, guaranteeing that necessary financial operations can be carried out without will be closed on occasions such as Kharchi Puja, Guru Hargobind Ji's Birthday, Beh Deinkhlam, Harela, Death Anniversary of U Tirot Singh, Ker Puja, Drukpa Tshe-zi depending on the state.
Khaleej Times
07-07-2025
- Business
- Khaleej Times
Some UAE residents miss school fees, medical payments after Al Ansari remittance delay
Some UAE residents who sent remittances over the weekend via Al Ansari Exchange said on July 7 that their families back home have yet to receive the money. The transactions that were supposed to be completed in minutes got delayed for more than 48 hours for some customers. The delay, caused by a technical glitch, happened on a busy weekend, when many expats — after getting their monthly salary — sent money back home earmarked for household expenses, education, rent, medical bills, and other expenditures. 'The money I sent on Saturday night is still sitting pretty in their (Al Ansari Exchange) system,' Indian expat S.P. told Khaleej Times, adding: 'I checked with them yesterday (July 6) and they were blaming NEFT (National Electronic Funds Transfer) collapse. I checked again today (Monday) and the money is still not yet credited to my family's bank account in India." 'I called an Al Ansari branch in Dubai and the staff admitted they experienced some 'technical issues' and assured the system will be up and running soon,' noted the Dubai-based Indian resident. 'Minor technical issue' In a statement sent to Khaleej Times on Monday, Al Ansari Exchange said: 'On Saturday, July 5, a minor technical issue was identified that affected the processing of certain financial transactions at Al Ansari Exchange, a wholly owned subsidiary of Al Ansari Financial Services PJSC, resulting in the unintentional transfer of funds to a small number of customer accounts." Al Ansari Exchange said their 'team responded immediately in close coordination with the relevant financial institutions, and the vast majority of the amounts were successfully recovered". 'We emphasise that regular daily transactions have not been impacted by this incident and continue to be processed as usual," the company underscored, noting: 'Additional preventative measures are being implemented to further strengthen our systems and prevent such occurrences in the future." Al Ansari Exchange also issued an apology 'for any inconvenience caused to those affected and thanked all parties for their cooperation and understanding". A quick call by Khaleej Times to one of Al Ansari Exchange branches on Monday confirmed the 'technical glitch' in the system on Saturday. 'It caused delays in processing the transactions. The system is back to normal today (Monday), but some customers might still experience some delays due to the backlogs over the weekend,' the staff added. 'I incurred a penalty' Marlon, a Filipino expat who has been using Al Ansari Exchange services for almost a decade, said it was the first time he encountered a delay in sending money to the Philippines on July 5. 'Unfortunately, the timing was so bad because I was not able to beat the deadline to pay for my son's school fees. Because of the delay, I incurred a penalty for late payment,' he told Khaleej Times. Dubai-based Kenyan expat Zee also experienced a delay in sending money for her mother's medical expenses. 'Every month, I send around Dh500 for my mother's medicines for diabetes and high blood pressure. There should be no delay for her to receive the money as it is very important for her medical condition,' she said. Both Marlon and Zee are still waiting for confirmation from their respective families if they have received the money. Popular among UAE residents Al Ansari Exchange is recognised as 'the UAE's largest remittance and foreign exchange company' and a subsidiary of Al Ansari Financial Services PJSC. It offers instant online money transfers to India and several other countries, including the Philippines, Pakistan, Bangladesh, Sri Lanka, Egypt, UK, and more. According to its website, Al Ansari Exchange 'has a network of over 260 branches, employing over 4,000 multilingual staff who cater to more than 3 million customers every month with fast, reliable and efficient service at very competitive rates.' The company also has a mobile app that contributes to around 14 per cent of the total number of transactions. Al Ansari Exchange is popular among UAE residents for its annual Dh1 Million Al Ansari Millionaire Promotion. Albert Rioflorido, a Filipino customer living in the UAE for the past 12 years, was named as this year's winner. The promotion, which ran from March 1 to May 29, attracted millions of participants who entered the draw by conducting qualifying transactions at the branch network and digital platforms. The UAE is the third-largest sender of remittances in the world, after the US and Saudi Arabia. Last year, Indian expats based in the UAE sent $21.6 billion to India, equivalent to 19.2 per cent of the total dollar inflows, ranking the UAE as the second-largest source of global remittance after the US.
