Customer Financial News

security breach, resulting in a loss of over $230 million. This incident, the largest of its kind in India to date, has prompted a thorough examination of security measures and investor protections within the burgeoning crypto ecosystem. To dissect the implications and learnings from this event, a panel discussion was held on ETMarkets live stream with industry veterans Dilip Chenoy, Chairman of the Bharat Web3 Association; Ashish Singhal from CoinSwitch; Sumit Gupta from CoinDCX; and Edul Patel, from Mudrex.

Governor Shaktikanta Das said that the central bank's assessment of grievances received at RBI offices revealed gaps in systems and procedures in financial institutions. «We have brought such deficiencies to the notice of the individual banks and NBFCs. Our effort is to work with the regulated entities and rectify such deficiencies,» Das said at the annual conference of RBI Ombudsman held in Mumbai.

A South Korean law firm operator was jailed in Busan on March 11 after being found guilty of stealing clients’ money to spend on crypto investments.

Bharti Airtel's managing director Gopal Vittal has called on the telco's 19,000-odd employees, including senior executives, across India to cancel all business meetings on Tuesday and spend the entire day on the field with customers to get a fix on service challenges they face, even as the Sunil Mittal-led telco readies to launch 5G services nationally by the month-end. The exercise is part of a national brand-building drive to position Airtel as a customer-obsessed telco that is keen on eliciting direct market feedback from its target audience on the state of its 2G, 4G and 5G mobile operations as well as home broadband services. «These interactions will help us understand customer needs on a deeper level. Tomorrow (March 12) is also an opportunity for you to discover first-hand what challenges our frontline staff face and how they serve customers,» Vittal wrote in an internal email communication to all Airtel employees Monday. ET has seen a copy of the Airtel MD's letter.

India's life insurance sector, ranking 10th globally, is one of the fastest-growing sectors. This strength isn't by chance - it's fueled by two key engines: rapid digital adoption and an understanding of changing customer preferences. Anyone connected to modern living knows that Indians use their smartphones and mobile devices to search for their needs.

The Reserve Bank of India (RBI) has issued guidelines to enhance customer options and flexibility in credit card issuance by card networks.

Dara Khosrowshahi. In an interview with the Economic Times, the executive shared insights into the company's investment strategy in India, its focus on mobility, profitability, the electric vehicles (EV) business, and differences in his management style compared to Uber's founder Travis Kalanick. Reflecting on the founder vs.

Zomato sparked a playful exchange reminiscent of a popular Instagram meme. In this game, participants typically engage in a series of silly phrases and actions, such as saying “Ek machhli" (one fish) followed by “Paani mein gayi" (went into the water), while incrementally adding to the count of fish.

Amazon purchase, revealing that he received a fake iPhone 15. With over 1.5 million followers on X, Gabbar Singh took to social media to express his frustration and posted a picture of the fake device. In the tweet, he mentioned that the seller was Appario, tagged as 'Amazon choice,' and highlighted the absence of a cable in the box. The post gained rapid attention, prompting a swift response from Amazon, apologising for the error and instructing him to fill in details for resolution. «Waah @amazonIN delivered a Fake iPhone 15. Seller is Appario. Tagged with “Amazon choice” No cable in the box. Total Dabba. Has anyone faced similar issue?» he said.

Exotel, Freshworks, Gupshup, Corover.ai and Yellow.ai. While this transformative technology is applicable to multiple channels from websites to apps, social media as well as messaging platforms including Google’s RCS (rich-communication services), the most prominent early adopter is proving to be Meta’s WhatsApp. Generative AI is making WhatsApp-based customer support conversations more «human and free-flowing», rendering standard bot-replies redundant according to businesses that have incorporated this new tool.

By Stephen Nellis and Max A. Cherney

KYC, or Know Your Customer, is a prerequisite process individuals must fulfill before opening a bank account. This process entails verifying the individual's identity, address, and other pertinent details. It necessitates in-person verification.

Paytm Payments Bank Ltd. (PPBL) in terms of basic banking services and new deposits till March 15. It has also issued a set of frequently asked questions (FAQs) to provide clarity to customers having a savings account with the payments bank.

VTEX (NYSE: VTEX), the composable and complete commerce platform for premier B2C and B2B brands, has been recognized as the only vendor in the 2024 Gartner® Voice of the Customer for Digital Commerce to be named in the Customers Choice Quadrant. The recognized vendors meet or exceed the market average Overall Experience and User Interest and Adoption.

business class passengers, catering to the rising demand. After two sluggish years due to the pandemic, airlines have not only seen a rousing revival in corporate travel, boosting occupancy in the business class, but also a new class of leisure travellers willing to spend more for extra legroom and other perks. Deepak Rajawat, chief commercial officer of Vistara, said the debate over whether the pandemic would drive a shift towards work-from-home and reduce business-related travel has been put to rest. «There has been a phenomenal increase in the percentage that we carry in the front end,» he said, referring to business class flyers. Air India, under its new owner Tata group, is seeking to position itself as a world class airline and target more higher-paying customers.

By Sriram PH

Reserve Bank of India (RBI) is evaluating tokenising assets such as government bonds and customer deposits to expand the usage of its digital currency, two bankers aware of the developments told ET. Investors would be able to purchase government securities and other bonds using digital currency in their wallets.

Crypto lender Abra has reached a tentative settlement with the Texas State Securities Board. According to a document published January 22nd, Abra has agreed to reimburse the assets invested by the state’s residents. The document highlights that Abra has begun winding down its U.S. retail operations. Clients holding balances exceeding $10 will receive notifications, allowing them seven days to withdraw their assets. Unclaimed funds will be converted to fiat currency and distributed to remaining investors in Texas.

A customer who claims he was injured by an exploding toilet at a Dunkin' store in central Florida has filed a negligence lawsuit against the coffee chain

Legend Airlines did not officially respond to the allegations and Liliana Bakayoko, claiming to be the lawyer of the company asserted that the airline has not done anything wrong and “is at the disposal of the French authorities," a report by news agency AFP said. The lawyer added that a customer arranged for the charter of the plane and assumed the responsibility of authenticating the identity documents of every passenger. She noted that this customer shared the passenger details to the airline 48 hours before the scheduled flight.

Chatbot serves the purpose of sparing users from the hassle of sifting through user manuals and brochures to find basic information. Any user who is registered on the Jeeplife mobile app can effortlessly interact with the Jeep Expert application. The notable features of the Jeep Expert include round-the-clock customer support, addressing inquiries related to the brand, product features, basic off-roading capabilities, service advice, user manuals, connectivity features, and more.