Daily Current Affairs Quiz 2019<\/a><\/strong><\/p>\n\n\n\nThis move is in\nline with banks trying to take security measures to safeguard customers who use\ndebit cards to withdraw cash at ATMs.<\/p>\n\n\n\n
Earlier this month,\nReserve Bank of India (RBI) said that transactions on account of technical\nglitches including hardware, software, communication issues and\nnon-availability of currency will not be counted as valid transactions. It\nadded that no charge will be levied on the same.<\/p>\n\n\n\n
“It has come\nto our notice that transactions that have failed due to technical reasons,\nnon-availability of currency in ATMs, etc, are also included in the number of\nfree ATM transactions,” said RBI in a statement, further adding, “It\nis hereby clarified that transactions which fail on account of technical\nreasons like hardware, software, communication issues; non-availability of\ncurrency notes in the ATM; and other declines ascribable directly \/ wholly to\nthe bank\/service provider; invalid PIN\/validations; etc, shall not be counted\nas valid ATM transactions for the customer. Consequently, no charges,\ntherefore, shall be levied.”<\/p>\n\n\n\n
“Non-cash\nwithdrawal transactions (such as balance enquiry, cheque book request, payment\nof taxes, funds transfer, etc), which constitute ‘on-us’ transactions (ie, when\na card is used at an ATM of the bank which has issued the card) shall also not\nbe part of the number of free ATM transactions,” the statement mentioned.<\/p>\n\n\n\n
About\nCanara Bank<\/h4>\n\n\n\n
Canara Bank is one\nof the largest public sector banks owned by the Government of India. It is\nheadquartered in Bengaluru. It was established at Mangalore in 1906 by Ammembal\nSubba Rao Pai. It is one of the oldest public sector banks in the country.\nThe post of MD and CEO of Canara Bank\nis lying vacant since superannuation of Rakesh Sharma.<\/p>\n\n\n\n
Need\nof OTP system to ATM Security<\/h4>\n\n\n\n
As the number of\nATM units increase, the machines are prone to hacker attacks, fraud, robberies\nand security breaches. In the past, the main purpose of ATMs was to deliver\ncash in the form of bank notes, and to debit a corresponding bank account.\nHowever, ATMs are becoming more complicated, and they serve numerous functions,\nthus becoming a high priority target to robbers and hackers. The OTP system\nwill be able to protect customers accounts from cyber hackers. <\/p>\n","protected":false},"excerpt":{"rendered":"
Canara Bank has launched the first OTP facility for ATM withdrawals. In order to offer a more secured and safe system, Canara bank will activate OTP facility for cash withdrawals of Rs 10,000 or more in a day. In a tweet, the bank had announced, “We introduce India’s First OTP facility for ATM withdrawals. Withdrawals […]<\/p>\n","protected":false},"author":13,"featured_media":5507,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[45],"tags":[644],"class_list":["post-5506","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-articles","tag-canara-bank"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/5506","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=5506"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/5506\/revisions"}],"predecessor-version":[{"id":5508,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/5506\/revisions\/5508"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/5507"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=5506"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=5506"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=5506"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}