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In the fiscal year 2023-24, UPI transactions in India recorded an impressive 57% increase in volume and a 44% increase in value compared to the previous fiscal year 2022-23.
Financial Literacy News: Several major Indian banks, including ICICI Bank, Axis Bank, and Yes Bank, have recently announced changes to their savings bank account service fees. The revised charges, effective from April 1 and May 1, 2024, impact a range of services including cheque books, debit cards, cash transactions, and more.
The Central Bureau of Investigations (CBI) has conducted search operations in around 13 locations in West Bengal and Karnataka in its investigation related to the IMPS transactions worth Rs 820 cr in UCO Bank accounts. The CBI's search included the premises of private persons and bank officials, resulting in the recovery of electronic evidence.
The CBI is probing a case where over 41,000 UCO Bank customers received surprise credits of varied amounts in their accounts during November 10-13 without any corresponding debits in the originating accounts, they said.
The search operation, which continued till late night on December 4, also covered Kolkata and Mangalore, they said.