Kotak Mahindra Bank introduces a convenient way to manage your accounts and credit cards through the latest Kotak Mobile Banking apps. These apps offer a comprehensive range of banking services, ensuring secure transactions with MPIN, fingerprint, and FaceID authentication setups. Here's how you can begin leveraging the services provided by Kotak Mahindra Bank.Kotak Mobile Banking RegistrationFollow the below steps to register for Kotak Mobile Banking services:Step 1: Get your mobile number registered with Kotak Bank for mobile services.Step 2: From the Google Play Store or the Apple Play Store, download the Kotak Mobile Banking app. You can also SMS ‘Mobile’ to 9971056767 / 5676788 to get the mobile app link on your registered mobile number.Step 3: Open the app and enter your CRN, available on a debit or credit card.Step 4: Login and use your Kotak Mobile Banking.Kotak Mobile Banking ActivationTo activate your Kotak Mobile banking services, you must follow the below steps:Step 1: Open the app and enter your CRN, available on a debit or credit card.Step 2: After entering CRN, use your credit or debit card numbers or net banking information to authenticate your account.Step 3: Once authenticated, set up a six-digit MPIN.Step 4: A verification number or code will be shared with the registered cellphone number after creating your MPIN.Step 5: To activate your Kotak mobile banking services, enter the code.Kotak Mobile Banking LoginFollow the below steps to log in to your Kotak Bank mobile app:Step 1: From the Google Play Store or the Apple Play Store, download the Kotak Mobile Banking app. Step 2: Open the app and click on login.Step 3: After being routed, you will see a screen asking for your CRN.Step 4: You will be prompted to confirm your credit or debit card details or net banking credentials if you are a first-time user. If you have already registered, you may log in using your MPIN and user ID.Kotak Mobile Banking AppsHere are the different Kotak Mobile banking apps:Kotak 811Kotak Corporate BankingKotak AllPayKotak Smart SolutionsBHIM KotakpayKotak Mobile Banking Password ResetIf you have forgotten your Kotak Mobile Banking password, you can easily reset or regenerate it by following the below-mentioned steps:By Sending SMSOpen the messaging option on your phone.Type MPIN (space) (CRN No)Send it to 9971056767 from your registered mobile phone.Using Physical Debit CardOpen to your Kotak Mobile Banking app.Click on “Forgot MPIN”.Enter your debit card information - card number, expiry date, card pin, and CVV.Set your six-digit MPIN.Click on Confirm.Using Net Banking PasswordOpen your Kotak Mobile Banking app.Click on “Forgot MPIN”.Choose Net BankingEnter your Net Banking password.Set your six-digit MPINKotak Mobile Banking Transaction LimitFor money transfers through the mobile banking app, below are the daily transaction limits:One-time fund transfer without adding beneficiary- Rs.

Wrong UPI transactions occur when money is mistakenly transferred to an incorrect UPI ID, mobile number, or bank account. Raising a wrong UPI transaction complaint within the first 24–48 hours significantly improves your chances of recovering the funds.Key HighlightsSpeed: Report the wrong UPI transfer within 24–48 hours to improve the chances of recovering the funds.Resolution: Raise a reversal request through the UPI app, bank branch, or NPCI helpline.Escalation: If unresolved within 30 days, file a complaint with the RBI Ombudsman.Prevention: Verify recipient details and keep your UPI PIN secure before making payments.What is a Wrong UPI Transaction?A wrong UPI transaction occurs when money is mistakenly transferred to an incorrect UPI ID, mobile number, or bank account due to human error or technical issues.As per the guidelines of RBI, it is the sole responsibility of the beneficiary to enter the correct details to avoid a wrong UPI transaction. In such cases, it’s essential to raise a wrong UPI transaction complaint as soon as possible. Acting quickly increases your chances of recovering the amount.If you have sent money to any wrong UPI ID, you can complain to the payment system provider.  RBI guidelines also allow you to escalate the issue to the bank or further to the RBI Ombudsman if the UPI wrong transaction complaint remains unresolved.How to Reverse Wrong UPI Transaction?The following points mention various methods to reverse a wrong UPI Transaction:1. Through UPI AppMost UPI apps like Google Pay, PhonePe, Paytm, and BHIM have a 'Help' or ‘Report a Problem’ section, follow the steps below to reverse a wrong transaction via UPI:Step 1: Report the wrong UPI transfer within 24–48 hours to improve the chances of recovering the funds.Step 2: Raise a reversal request via the UPI app, at a bank branch, or through the NPCI helpline.Step 3: If the issue remains unresolved for 30 days, file a complaint with the RBI Ombudsman .Step 4: Verify recipient details and keep your UPI PIN secure before making payments.2. Bank Customer Care or BranchImmediately contact the bank’s customer support or visit the bank and register complaint by sharing the details mentioned below:UPI transaction IDBeneficiary account number or UPI IDTime and date of the transaction3.

An Automated Teller Machine (ATM) is one of the greatest products of modern technological advancements which has made life easier by making cash withdrawals faster. It is a key foundation of the modern banking system for managing cash withdrawals and deposits.Even though banks present in the country are responsible for managing most of the ATMs, there is a unique category of ATMS that are not managed by banks. This category of ATMs is called White Label ATMs.White Label ATM Meaning?White Label ATMs are the kinds of ATMs that are managed and operated by some non-banking entities as per the mandates generated by the Reserve Bank of India (RBI). Under this kind of business model, you can operate these ATMs for banking transactions irrespective of the bank account you have.Under the Payment and Settlement Systems Act 2007, the Reserve Bank of India has approved the operation and inclusion of White Label ATMs in the country, managed by non-banking organisations. Hence it was introduced primarily to expand the ATM networks in rural and semi-urban areas.With White Label ATMs, you can enjoy banking services like depositing cash, withdrawing funds, paying bills etc.

A Positive Pay System (PPS) for cheques is a security measure utilised by banks to safeguard against fraud. It usually involves providing the bank with details of issued cheques, including the cheque number, date, and amount. Key Highlights:Security: PPS prevents cheque fraud by matching cheque details with pre-submitted digital data before payment is processed.Threshold: Typically applies to cheques of ₹50,000 and above, with customizable alert limits.Mandatory: Required for cheques of ₹5,00,000 and above at most banks; non-submission can lead to rejection.Parameters: Submit six mandatory details: cheque number, date, amount, beneficiary name, account number, and instrument type/transaction code.Channels: Details can be submitted via mobile banking, internet banking, SMS, or at a branch, usually at least 24 hours before presentation.What is a Positive Pay System (PPS)?The RBI implements the PPS system in banks to prevent fraud involving cheque payments, such as tampering or alteration. Under this system, the drawer of the cheque verifies important cheque details. These details are then rechecked again when the cheque is presented for payment. If the details provided by you match with those in the cheque, the payment goes through, otherwise, the cheque is sent back.Is Positive Pay Mandatory?It depends on the bank and the amount of the cheque:Cheque AmountPPS Requirement₹50,000 – ₹4,99,999Optional (recommended by RBI).₹5,00,000 and aboveMandatory at most major banks; the cheque may be rejected if PPS details are not submitted.Bank-specific thresholdsSome banks require PPS from ₹2,00,000, while others have revised the threshold down to ₹50,000 for specific non-base clearing methods, such as cash or third-party transfers.Note: Only PPS-compliant cheques qualify for the RBI's dispute resolution mechanism between presenting and paying banks.Positive Pay System LimitFeatureDetailsMinimum EligibilityPPS applies only to cheques of ₹50,000 and above.

UPI ATM cash withdrawal allows you to withdraw money from an ATM without using a debit or credit card. With the UPI cash withdrawal ATM feature, you can scan a QR code displayed at the ATM using any UPI app and enter your UPI PIN to complete the transaction. This service is based on Interoperable Cardless Cash Withdrawal (ICCW). Key HighlightsMaximum withdrawal limit: Up to ₹10,000 per transaction, subject to bank-specific limits.QR code-based process: Scan the ATM-generated QR code and authorise the transaction through your UPI app.Supported UPI apps: Works with popular apps such as PhonePe, Google Pay, Paytm and BHIM.Enhanced security: Transactions are authenticated using a UPI PIN and may require additional verification for certain transactions.Widely available: Supported by several banks and ATMs across India through the ICCW framework.What is Cash Withdrawal using UPI at an ATM?UPI ATM cash withdrawal is a cardless way to withdraw money from ATMs using UPI apps like PhonePe, Google Pay, Paytm, etc. Launched in 2023, this feature allows users to scan a dynamic QR code generated at the ATM and authenticate the withdrawal using their UPI PIN. This system uses Interoperable Cardless Cash Withdrawal (ICCW) which is a secure method that reduces the risk of card-related frauds. Recent updates have introduced additional security measures and clarified how UPI ATM cash withdrawals are treated for ATM transaction limits.UPI ATM cash withdrawals are counted towards the monthly free ATM transaction limit applicable to your bank account.

When you think about a fixed-return investment, most people will suggest a Bank’s fixed deposit. However, several other secured options provide an assured return upon maturity other than Fixed Deposit Accounts. A certificate of deposit is an ideal money market instrument for fixed returns against short and mid-term investments. You can learn more about its purpose, features, benefits, etc. in the section below.What Is a Certificate of Deposit? Certificate of Deposit (CD) is issued by the RBI (Reserve Bank of India) in a dematerialised form. It is a financial instrument with fixed-income facilities and assured payout from the beginning.

In India, the banking sector plays an important role in the economic development of India. Banks are like hubs where people save, borrow, and manage their money. They help individuals, businesses, and the government by providing financial services such as loans, Deposit accounts, and investment options. There are mainly two types of banks in India - public sector banks and private sector banks. Both types of banks play important roles in India's financial system, but they have different ways of working and offer different advantages. To learn the difference between public and private sector banks in detail go through this guide.What is the Public Sector Bank in India?Public sector banks are those where the government, either at the state or central level, owns more than half of the stocks.

Finance Minister Nirmala Sitharaman unveiled a series of reductions in customs duties as part of Budget 2024 and also announced which items are going to be costlier in financial year 2024-25.Among the notable changes, customs duties on essential items such as cancer medicines and mobile phones have been substantially lowered, promising to bring down their retail prices and make them more accessible to the general public. This measure is expected to provide much-needed relief to patients requiring expensive cancer treatments and to consumers looking to purchase mobile devices and accessories. Furthermore, the reduction in import duties extends to other key items, including gold, silver, and leather goods. These changes are anticipated to invigorate retail demand, particularly in the bullion market, while also addressing issues such as smuggling. Here we are providing detailed information about what gets cheaper and what gets costlier after Union Budget 2024.Items Getting Cheaper:Cancer medicines: Major reduction in customs duty, with 3 more cancer treatment drugs exempt from customs duty.Mobile phones, chargers, and other mobile parts: Basic customs duty reduced.Imported gold and silver: Import duties slashed to 6%.Platinum: Customs duty reduced to 6.4%Leather goods and seafood: Prices reduced due to lower customs duties.Ferro nickel and blister copper: Basic customs duties removedCapital goods for solar panel manufacturing: Expanded list of exemptions25 critical minerals: Customs duties fully removedShrimp and fish feed: Customs duty reduced to 5%Items Getting Costlier:Ammonium nitrate: Customs duty increased by 10%Non-biodegradable plastics: Customs duty increased by 25%Telecom products: Basic customs duty on certain equipment raised from 10% to 15%Plastic products: Customs duty increasedIndustry Impact:Gold and silver: Reduction in import duties expected to boost retail demand and help curtail smuggling.Global gold prices: Higher demand from India could support global prices but may increase India's trade deficit and affect the rupee.List of Items That Will Cheaper and Costlier After Budget 2024Here is the full list of items that will get cheaper and costlier in FY 2024-25:What’s CostlierWhat’s CheaperCancer MedicineAmmonium nitrateTelecom productsNon-biodegradable plasticsImported Gold and SilverMobile Phone and Mobile PartsPlatinumPlastic productsLeather Goods Seafood Ferro nickel and blister copper Capital goods for solar panel manufacturing 25 critical minerals Shrimp and fish feed Gold Rate After Budget 2024Today, gold prices faced significant selling pressure following the announcement of the Union Budget 2024. Finance Minister Nirmala Sitharaman revealed a reduction in customs duty on gold and silver from 15 percent to 6 percent. This led to a sharp decline in gold prices.

ICICI Bank credit cards come with a cash withdrawal facility that allows you to access funds instantly during emergencies. This feature lets you withdraw cash from ATMs using your ICICI Bank credit card within a specified limit, subject to applicable charges.ICICI Bank credit card cash withdrawal charges:Cash advance fee: 2.5 %–3 % of the withdrawn amount (min Rs. 250 – Rs. 500)Interest rate: 3.40 % per month (~40.8 % p.a.) charged from day oneWithdrawal limit: Typically 20 %–40 % of your credit limitInterest-free period: Interest charged from day 1Use this guide to understand ICICI credit card cash withdrawal charges, how to calculate them, and how to withdraw or repay cash advances.ICICI Bank Credit Card Cash Withdrawal Charges and FeesThe table below lists the ICICI credit card cash withdrawal charges and fees: ParticularsChargesInterest-free periodNoneCash advance charge2.5%-3%Cash advance limit20%-40% of your credit limitInterest rate on cash advance3.40% per month and 40.8% yearlyICICI Credit Card Cash Withdrawal ChargesYou can use your ICICI credit cards to withdraw cash from ATMs up to a specific limit. However, customers must pay ICICI credit card cash withdrawal charges for using this feature. The bank will charge a 2.5%-3% cash withdrawal fee on the withdrawn amount with a minimum charge of Rs.250 to Rs.500.

When facing a financial shortfall or an unexpected emergency, securing a personal loan might not always be a viable option. In such situations, many banks and financial institutions offer loans against property (LAP), which can provide a potential solution. Obtaining an LAP involves specific rules and conditions, but it can be a feasible way to secure quick loan approval to meet your needs. Key Highlights:Application Requirements: Submit documents related to your income, identity, and the property you wish to mortgage.Tax Benefits: LAP can qualify for tax deductions if the loan is utilised for purchasing another property or business-related expenses.Interest Rate Comparison: It's crucial to compare interest rates from multiple lenders to secure the best deal and make an informed decision.What Is Loan Against Property?A Loan Against Property (LAP) is a type of secured loan provided by banks and financial institutions, using your property as collateral. Acceptable collateral assets typically include residential houses, land, or commercial properties.LAPs are also referred to as mortgage loans. The loan against property interest rate is influenced by factors such as the property's value, your credit score, and the loan amount. The lending institution retains the property as collateral until the loan is fully repaid because LAPs often have no restrictions on how the funds can be used; they are a popular choice for debt consolidation. However, if loan repayments are not made, the lending institution has the right to sell the property to recover the outstanding loan amount. How to Get Loan Against Property?Applying for a loan against property is simple and can be done through both online and offline channels. Here's a quick guide:I.