RBI cautions against KYC related frauds
India Business News: The RBI has cautioned the public against ongoing frauds perpetuated under the guise of know your customer updation. In KYC frauds, scammers often use unsolicited communication like calls, texts, or emails to trick customers into sharing personal details, account/login information, card details, PIN or OTP. Key Points
Times Of IndiaMaruti, Mahindra, Audi extend support to customers in cyclone-hit areas of Tamil Nadu, Andhra
New Delhi, Dec 6 (PTI) Maruti Suzuki India, Mahindra & Mahindra and luxury car maker Audi have extended support to customers in cyclone and flood affected regions of Tamil Nadu and Andhra Pradesh. In a statement, Maruti Suzuki India said it has collaborated with its dealer partners and made several arrangements at its workshops. As […] Key Points
ThePrintT-Mobile posts highest Q2 subscriber adds in eight years, beating estimates
T-Mobile US (TMUS.O) topped Wall Street expectations for quarterly wireless subscriber additions on Thursday, as cost-conscious customers flocked to its cheaper plans and superior 5G services in a highly competitive market. Key Points
ReutersPS5 gets a significant discount during Amazon's Great Summer Sale. Grab the details here!
During the ongoing Amazon Great Summer Sale, customers can purchase the Sony PS5 gaming console at a discounted price of ₹49,999 for the standard edition and ₹39,999 for the Digital model. This amounts to a significant ₹5,000 discount off the original selling price. Key Points
mintAmazon Great Summer Sale: Deals on smartphones you shouldn't miss. iPhone 14, OnePlus 11 5G and more
If you are looking for a new smartphone, here are some of the best deals for you under various budget ranges..Get iPhone 14 under ₹58,000, inclusive of all offers. Key Points
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Shoonya pays compensation totalling Rs 3 crore to traders after tech glitch
Shoonya, the zero broking platform, has compensated customers with Rs 3 crore ($402,000) following a technical glitch which occurred on April 13th. The error, which affected traders between 9.15am and 9.30am, left hundreds out of pocket. The glitch impacted a specific set of customers, with only first trades in that window being affected by incorrect trade values. In all, 77.5% of disputes were eligible for compensation and 77% of those eligible have been resolved, Shoonya co-founders Sarvjeet Virk and Tajinder Virk said. Key Points
Economic TimesLooking for an iPhone 14? Here's how you can get a discount of up to ₹21,000
The price of iPhone 14’s 512 GB variant is Rs. 1,09,900. However, with Maple's exclusive discount, customers can now get flat Rs.11,000 off along with HDFC cashback of Rs. 4,000 and an exchange bonus of Rs. 6,000, making it a whopping discount of Rs. 21,000. Key Points
mintApple's Maple offers iPhone 14 with a discount up to ₹21,000. Here's how the deal works
The price of iPhone 14’s 512 GB variant is Rs. 1,09,900. However, with Maple's exclusive discount, customers can now get flat Rs.11,000 off along with HDFC cashback of Rs. 4,000 and an exchange bonus of Rs. 6,000, making it a whopping discount of Rs. 21,000. Key Points
mintSex products I always recommend as a gay-sex shop employee
Dec Bowring has worked at Prowler in London for years. He always recommends the best vibrators, dildos, and lubes to his customers. Key Points
InsiderAmazon business looking to offer multiple licence options at signup
Amazon Business is the B2B offering of Amazon India that provides its business customers with access to products with a GST invoice allowing them to take input tax credit. These customers also get business-exclusive deals and quantity discounts on products, as per its website. Key Points
Economic Times
Never borrowed before? There's a price to pay
Lenders in India have tightened risk frameworks, resulting in a decline in approval rates for new-to-credit loan applicants. The share of new-to-credit customers in overall loan origination has dropped by 400 basis points year-on-year to 15% in the April-June period. Key Points
mintFEDAI should help in ensuring fair prices to small clients, streamlining procedures: RBI DG
The central bank has had to deal with several representations from small customers especially the MSMEs and other retail participants complaining about high foreign exchange transaction charges. FEDAI should supplement RBI's efforts in streamlining and rationalising procedures. Key Points
Economic TimesJudge says no class action against Peloton over fitness class availability
A U.S. judge on Tuesday refused to let Peloton Interactive Inc customers pursue a class action accusing the bike and treadmill maker of misleading them about the "ever-growing" size of its library of on-demand fitness classes. Key Points
ReutersAJIO announces Big Bold Sale
Mumbai (Maharashtra) [India], December 6 (ANI): Fashion e-tailer AJIO on Wednesday announced its flagship event ‘Big Bold Sale’, which is powered by Adidas and co-powered by Superdry. The Big Bold Sale will commence on Thursday. customers got early access to the sale starting from December 4. In the biggest-ever edition of the Big Bold Sale […] Key Points
ThePrintSam Bankman-Fried apologizes to FTX ex-colleagues at sentencing hearing
Sam Bankman-Fried, the 32-year-old former billionaire and founder of the now-bankrupt FTX cryptocurrency exchange, faced his sentencing hearing after being found guilty on seven fraud and conspiracy counts for stealing $8 billion from customers. Despite his defense's argument that FTX customers would be reimbursed through bankruptcy proceedings, the judge found Bankman-Fried guilty of lying during his trial and rejected the notion that customers would be fully compensated. Key Points
Economic Times
Citing customers’ interest, RBI gives Paytm relief till March 15
The RBI on Friday gave customers and merchants of Paytm Payments Bank Ltd (PPBL) 15 more days to shift their accounts to... Key Points
The Tribune IndiaOptus CEO Kelly Bayer Rosmarin resigns following nationwide telecom outage
Her decision comes after a 12-hour-long telecom disruption on November 8 resulted in widespread disconnection for millions of Optus mobile and internet users across Australia. Moreover, critical sections of the country’s public transport system were rendered inoperable. Key Points
mintCredit information cos have to send alerts, update customers on default info, says RBI
Credit information companies (CICs) have been instructed by the Reserve Bank of India (RBI) to notify clients by email or SMS whenever financial institutions access their credit information report (CIR), provided that the customer's email address or mobile number is accessible. After six months, the revised guidelines will come into effect. Key Points
Economic TimesAustralia fines lender ANZ $9.6 mln for misleading customers over funds
Australia's corporate regulator said on Tuesday the federal court has ordered ANZ Group Holdings (ANZ.AX) to pay a penalty of A$15 million ($9.63 million) for misleading customers about funds available in certain credit card accounts. Key Points
ReutersSBI launches fully revamped YONO app; to have UPI features like scan & pay
The State Bank of India (SBI) has launched its digital banking application called 'YONO for Every Indian' which provides access to UPI features such as Scan and Pay, Pay by contacts, and Request money. SBI also introduced Interoperable Cardless Cash Withdrawal (ICCW) facilities, allowing customers to withdraw cash seamlessly using UPI QR Cash functionality, eliminating the need for PIN entry or physical debit cards. Key Points
Economic Times
Got message about Punjab Bank financial scheme? It is fake
Some customers are receiving a fraudulent message claiming there's a reward worth Rs 6,000 under PNB 130th government financial scheme. But the claim is fake. Key Points
India TodayiPhone 14 receives a MASSIVE 17% discount on Amazon: Details on offer
Amazon is offering a 17% discount on Apple's iPhone 14, with the 256GB variant priced at ₹65,998 instead of ₹79,900. customers can also avail additional discounts through bank offers and smartphone exchanges. Key Points
mintDIY retailer Kingfisher launches AI-powered customer assistant
Home improvements retailer Kingfisher (KGF.L), home to the B&Q and Castorama brands, has launched what it says is the sector's first artificial intelligence-powered assistant to support customers with do-it-yourself (DIY) projects. Key Points
ReutersUS says prostitution ring counted politicians, tech execs, lawyers as clients
According to charging documents, the defendants used high-end apartment complexes as brothels in Cambridge and Watertown, Massachusetts, and Fairfax and Tysons, Virginia. US prosecutors on Wednesday charged three people with running a high-end brothel network out of apartment complexes in greater Boston and northern Virginia whose customers included elected officials, tech and pharmaceutical executives, lawyers, professors and military officers. Key Points
The Tribune IndiaAmazon 5th Gear store 5G smartphones sale: Redmi Note 12 5G, iQoo Z6, more
Interestingly, customers who are upgrading their phones can receive an extra exchange bonus of up to ₹14,000. In addition, purchasers can take advantage of up to 12 months of no-cost EMI on certain smartphones. Key Points
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Paytm Payments Bank crisis: RBI releases Paytm FAQs, details here
The Reserve Bank of India addressed concerns about Paytm's banking unit by releasing FAQs, covering topics like withdrawals, refunds, and salary credits. customers can use, withdraw, or transfer funds up to their available balance until March 15. After that date, no new deposits are allowed, but refunds, cashbacks, and interest can still be credited. Key Points
Economic TimesSam Bankman-Fried will not face a second trial, US prosecutors decide
Jurors on Nov. 2 convicted Bankman-Fried on all seven counts he faced, after prosecutors accused him of looting $8 billion from FTX customers. | World News Key Points
Hindustan TimesCDW misses third-quarter revenue estimates as customers lower tech spending
CDW (CDW.O) reported third-quarter revenue below estimates on Wednesday on lower demand for the company's information technology solutions as customers struggling with high borrowing costs cut back spending and defer projects. Key Points
ReutersHow beneficial are premium banking services for HNIs?
Banks offer premium banking programmes to high net worth individuals (HNIs) who maintain a minimum total relationship value (TRV). These programmes offer exclusive privileges including premium debit and credit cards, zero to low forex mark-up on international transactions, lower interest rates on loans, and access to wealth management and lifestyle services. However, the TRV requirement is prohibitively high and customers may end up paying substantial fees towards wealth management, which could negate the value of the perks. Additionally, banks' relationship managers are incentivised to cross-sell products, which could result in mis-selling to customers. Key Points
mintPaytm hits new record lows. Macquarie says meeting deadline to shift customers would be ‘arduous’
Paytm has lost nearly 50% of its market value, resulting in roughly $3 billion of its shareholder wealth. It hit a record low of Rs 380.10 earlier in the day. Key Points
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Italy's antitrust probes Intesa's customer shift to mobile service Isybank
Italy's antitrust authority said on Thursday it had opened a probe into the transfer of thousands of Intesa Sanpaolo (ISP.MI) customers to the bank's mobile-only service Isybank. Key Points
Reuters