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Aadhaar frauds: RBI ready with masterplan to curb Aadhaar-enabled payment system (AePS) scams
AePS has emerged as one of the most popular payment systems, especially in rural areas in the last few years. At present, 35 commercial banks, 40 rural banks, and 52 cooperative banks offer an Aadhaar-enabled payment system, according to the NPCI website. However, the system has been plagued by issues such as lack of infrastructure and security risks. Currently, there is no two-factor authentication on the Aadhaar-enabled payment system.
RBI to further strengthen security features of AePS to curb frauds
The Reserve Bank of India announces plans to bolster security measures for the Aadhaar-enabled payment system (AePS) to combat fraud risks. Current concerns revolve around the lack of two-factor authentication, posing vulnerabilities, especially for older users. The move aims to introduce additional fraud prevention mechanisms, potentially including timed OTP authentication. Strengthening AePS security is vital for fostering financial inclusivity, particularly in rural areas where digital literacy may be lower.
NPCI stepping in to stop AePS frauds, suggests ways to banks
The retail payment body which runs AePS wants banks to explicitly seek customer consent regarding this service at the time of account opening.
Fintechs bank on AI liveness tests to reduce AePS frauds
“The software update is happening and should be completed very soon. Once it gets implemented across all biometric devices, it will be easier to reduce fraudulent biometric based-transactions,” a senior banker told ET.
Titan to open 18 international stores of Tanishq in FY24
Titan Company plans to open 18 new international stores of its jewellery brand Tanishq in the Gulf region, taking the total number to 25 by the end of the current fiscal year. The company aims to expand aggressively across the GCC region and US market in FY24, primarily due to the evident demand for the Tanishq brand.
Odisha likely to shelve plan to divest 49% stake in Genco
Odisha govt had announced plans in January to sell 49% stake. But the sale process had generated poor response since potential applicants were interested in acquiring a majority stake, says a person familiar with the matter
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Odisha govt calls off plan to divest 49% stake in Odisha Power Generation Corp
“The sale process anyways had generated poor response since potential applicants were interested in acquiring a majority stake. With 49% on the block and the government holding 51%, they (bidders) will not have complete control over running of the company,” said a senior official from the big four consulting firm.
AePS users in a fix as banks set up guardrails to reduce fraud
Last-mile consumers who use AePS to withdraw DBT funds are finding their transactions failing over the last few months, as banks introduce strict checks to reduce fraud
Airtel Payments Bank rolls out face authentication for AePS
With this, Airtel Payments Bank is amongst the first four banks to offer face authentication for AePS in the country, the telco added. The roll out is being deployed in phases, starting with the first phase that includes non-financial transactions like balance enquiry and mini-statements.
Trader's Guide: This auto stock & a largecap HFC can rally up to 7% in near term
The markets on Friday remained subdued and in negative territory, with the Nifty ending the day with a modest loss. No sector is showing any dominance in the markets, except for the auto sector which is indicating signs of improvement.
Trader's Guide: 2 stocks with up to 8% upside potential
Even as the Nifty remained under corrective pressure on Friday, the broader markets offer opportunities which are stock-specific.
Trader's Guide: These 2 HDFC group stocks can gain up to 7% in near term
Although the Nifty saw itself heavily influenced by options expiry-centric activities, it ended with a net loss on Thursday. Stocks of financial services and banks, though, are likely to overperform as many among them have grossly underperformed the broader markets.
UPI transactions grow 7.7 per cent to 730 crore in October
The number of instant interbank fund transfer through IMPS (Immediate Payment Service) in October stood at 48.25 crore and the value was at Rs 4.66 lakh crore. In terms of transactions, it was higher by 4.3 per cent compared to September, reported PTI citing the monthly data from the National Payments Corporation of India (NPCI) released on Tuesday.
UPI transactions up over 3% at 678 crore in September
In value terms, 6.78 billion (678 crore) transactions in last month corresponds to transactions worth Rs 11.16 lakh crore, up from Rs 10.73 lakh crore in August, as per the National Payments Corporation of India (NPCI) data.
Trader's Guide: Tata Elxsi & one other stock with up to 9% upside
Although there are little signs of the IT universe finding its bottom, a few stocks from the midcap IT pack are showing some signs of a formation of a base and a potential resumption of an up move. One among such stocks is this midcap IT company.
Another dog attack goes viral, this time a school student is attacked in Kerala's Kozhikode
The video, uploaded to Reddit, shows the canine mauling the boy, even as he flails around and the dog is jerked around. Eventually the four-legged fiend leaves the boy alone, running away from the site of the incident.
UPI transactions hit record 657 crore in August
"With NPCI planning to take UPI to overseas markets, this number is only expected to grow exponentially, as UPI will then become a home-grown alternative to SWIFT," said Jasmin B Gupta, CEO, LXME - India's first neobank for women.
NPCI unveils norms for banks to compensate AePS fraud victims
During the course of the Covid-19 pandemic, several cases of fraud were reported in Jharkhand and Tamil Nadu in the direct benefit transfers (DBT) where government welfare funds meant for underprivileged beneficiaries were allegedly siphoned off using the AePS.
Adani Power terminates pact to buy 49 pc stake in Odisha Power Gen Corp
In June this year, Adani Power had announced inking a share sale and purchase agreement (SSPA) to acquire from AES OPGC Holding and AES India Pvt Ltd (collectively referred as sellers) total 89,30,237 equity shares held in OPGC representing 49 per cent of the total issued, paid-up and subscribed equity share capital.
CCI approves acquisition of AES's 49% stake in OPGC by OHPC
State-owned OHPC had sought the CCI’s nod to acquire the stake from US-based AES Corporation for $135 million (about Rs 1,000 crore) last month.
CCI clears Adani Power's 49% stake buy in Odisha Power Generation Corp
Competition Commission of India (CCI) said it has approved "proposed acquisition of 49 per cent of the total equity share capital of Odisha Power Generation Corporation Ltd (OPGC) by Adani Power Ltd (APL)".
Adani Power to acquire 49% stake in Odisha Power for Rs 1,019 crore
The OPGC operates 1,740 MW thermal power plant at Banharpalli in Jharsuguda district, Odisha.
Tata Power to focus on clean energy, won't build new coal-fired plants: Report
The country's largest private integrated power company has recently made it clear that it will cease to build new coal-fired power capacity.
Policy on energy storage will help bring in investments: AES Executives
Where we have seen energy storage is most successful, is where you do have a government policy. Eventually, a lot of production has to be localised for India.
AES sees $50 billion opportunity in Indian energy storage
“We think India is going to be a big market for energy storage,” CEO of AES Andres Gluski said.
Tata Power, India Power Corp bid for Odisha discom
Tata Power declined to comment on the issue, while there was no response to a query sent by ET to India Power Corp till press-time.
Panasonic, US-based AES to install energy storage project in Haryana
Panasonic along with US-based sustainable energy provider AES would install a joint project of 10 MW energy storage array at Jhajjar, Haryana.
Tata Power Renewable Energy acquires AES Saurashtra Windfarms Private Ltd
Tata Power Renewable Energy, an arm of Tata Power, today announced the acquisition of AES Saurashtra Windfarms Private Ltd, Tata Power said.
Tata Power Buys AES’ Gujarat wind farm AES Saurashtra
Tata Power, the Tata group’s power utility, said it has acquired AES Saurashtra Windfarms from the US-based AES Corporation.Load More
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