World

RBI has asked Banks to Transfer Benefits to Customers to Boost Digital Payments

Published

6 years ago

June 17, 2019

Reserve Bank of India made a declaration about lifting the charges on net banking services namely RTGS (Real Time Gross Settlement), and NEFT (National Electronic Funds Transfer) to promote digital payments a few days ago. Now, the central bank has asked all the scheduled commercial banks to pass on the benefits to customers so as to increase the percentage of people using digital mode of payments on a daily basis.

On the other hand, the ATM charges are likely to rise as banks and other cash handling companies have expressed a demand to do so. Due to the increasing security costs, banks are asking RBI to increase the ATM charges to manage the increasing ATM costs of banks. Banks charge a maximum of Rs. 20 from a customer but they themselves have to pay Rs 30.

Since a lot of people use OnlineSBI and SBI net banking on a mass rate, there will be a sign of relief for such people after the RBI’s announcement to lift charges on net banking. Rajnish Kumar, the chairman of State Bank of India, has said that the motive of scrapping transaction charges for RTGS and NEFT is to boost digital payments. There will be a big relief for all the big businessmen who transfer a huge amount of money digitally.

In its official notification released by RBI, it has been clearly mentioned that RBI imposes minimum charges on banks for RTGS and NEFT transfers. Hence, banks should also give benefits to customers by reducing charges to promote digital payments among people. After taking into consideration the increasing demand to change the ATM charges, RBI has set up a committee under the CEO of Indian Banks’ Association (IBA) to address this issue.

World

Swiss International University Alerts Public About Fake Institutions Misusing Its Name

Published

17 mins ago

May 15, 2025

Jenny Jackson

Dubai, United Arab Emirates— Swiss International University (SIU) has issued a caveat about fraudulent institutions setting up their pretense of affiliation with the university. SIU has further clarified that it will have campuses only in 7 cities by 2025, while any further expansions or new openings of offices will be officially notified on its website, swissuniversity.com.

A hallmark of SIU has been the highest quality in global higher education, and the fraudsters took advantage of it by pretending to be the university. These scammers lure prospective students and partners with promises of guaranteed admissions, scholarships, or preferential treatment in exchange for exorbitant fees for services that are either shoddy or nonexistent.

In an official statement, the SIU emphasized that they do not authorize any third party or individual to represent the university outside any of the established campuses. Any further developments about expansion and new office openings shall be made known directly through the official website of the institution or via official press releases.

An SIU spokesperson stated, “Swiss International University stands for high-quality education, and we therefore take our brand integrity very seriously. We urge anyone approached by an entity claiming to represent SIU to verify the information on our official site. The increasing number of imposters is a matter of grave concern, and we are therefore actively working to stop them from taking further advantage.”

Among the scams in the UAE and several European countries, impostors offer guarantees that cannot be verified. In return, large sums of money are demanded for nonexistent or shoddy services.

The prestigious Swiss International University is known for its stringent academic programs and degrees recognized internationally, possessing campuses with modern facilities that stand as a testament to Swiss quality education. Their latest alert is directed at saving the prospective students from fraudulent establishments and assuring the students are dealing only with the authentic SIU.

To safeguard its good name and maintain transparency, the SIU now warns the public against dealing with any education agencies or representatives claiming to render SIU services to them without a clear confirmation of their official status. The university also issued a reminder that all admissions must be channeled through SIU alone, and a list of accredited SIU campuses in selected big cities across the globe can be obtained from its website.

As of now, the Swiss International University has campuses in seven cities: Dubai, Zurich, Bishkek, London, Riga, Lucerne, and Osh. These cities have been carefully picked to provide students with rich academic learning experiences and encourage international collaboration. In addition, SIU also assures that any announcement of a new office or campus branch would be made only through their official website, and it advises all students and stakeholders to confirm the veracity of such claims before disbursing any monies.

For more information on Swiss International University and its programs, visit the website.