Articles by Shivaprasad Laxman Chhatre
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RBI's Initiative of migrating digital presence to the domain ".bank.in" - Consumer Perspective
Has RBI's .bank.in domain mandate achieved its goal? Explore the status of bank compliance, cybersecurity benefits, phishing risks, and the impact on customer trust.
Banks Redeeming FDs on Holidays: Are They Breaking RBI Rules?
Discover if banks are violating RBI regulations by redeeming Fixed Deposits on holidays. Understand your rights and the implications for FD maturity payments.
New Bank Nomination Rules: More Confusion Than Clarity?
New bank nomination rules offer more options but risk confusion. Discover potential complications and what needs clarification for smoother processes.
Bank Deposit Nominations: New Rules & Potential Pitfalls
Explore proposed changes to bank deposit nominations, including successive and simultaneous options. Understand the complexities and potential issues before they're finalised.
Why RBI withdrew the most popular money market product collateralized borrowing and lending (CBLO)
Why are major financial market regulators ignoring statute/s, while pushing new products/policies, and exotic ideas, overlooking serious systemic, legal risks to the market segment/s they regulate?
Why banks stopped issuing standalone ATM cards?
Banks will not easily give up this debit card stream of revenue generation unless the RBI comes with an iron hand. Such ATM cards will be useful mainly to the senior citizen class, risk-averse and/or less technology savvy class of the bank customers.
A Comprehensive Guide to the Supreme Court's Rulings on Safe Deposit Lockers in India
The Supreme Court of India's directions on hiring safe deposit lockers- - new locker agreement/s-confusion on stamping- many aspects the locker customers of banks need to know.
Card network portability ambiguity in RBI's circular
RBI's directions on Card's network portability - ambiguity. What needs to be done to ensure card users get the desired benefits?
Can Banks freeze inoperative SB and CD Accounts, return cheques issued and stop access to ATM service?
In this article, I have attempted to highlight a few related aspects like recklessness at Integrated Ombudsman's office.
Can banks freeze a customer's account for non-compliance with Re-KYC (KYC review)?
Neither RBI on its own can direct, a partial or total freeze of Re-KYC due (non-compliant) bank account nor it can delegate such authority to any bank/branch to impose such a freeze. RBI has formally confirmed that the directions it had given in Sept 2014 were applicable before the amendment on 20th April 2018.
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