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In a bid to bolster the safety and security of <keyword id="19989657" type="General" weightage="20" keywordseo="digital-payments" source="keywords">digital payments</keyword> and enhance regulatory frameworks, the Reserve Bank of India (<keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords">RBI</keyword>) unveiled a series of proposals aimed at fostering innovation, inclusivity, and efficiency in the financial ecosystem. These initiatives, announced by RBI Governor <keyword id="19913110" type="General" weightage="20" keywordseo="shaktikanta-das" source="keywords">Shaktikanta Das</keyword>, signify the central bank's commitment to fortifying India's digital infrastructure and promoting a conducive environment for financial transactions. One of the key announcements made by Governor Das pertained to the establishment of a Digital Payments <keyword id="21971766" type="General" weightage="20" keywordseo="intelligence-platform" source="keywords">Intelligence Platform</keyword>. This platform, leveraging advanced technologies, aims to mitigate payment <keyword id="19898489" type="General" weightage="20" keywordseo="fraud" source="keywords">fraud</keyword> risks and enhance the safety of digital transactions. According to the annual report released by the Reserve Bank of India (RBI) on May 30, there was a significant surge in the number of financial frauds reported by banks, increasing by 166 per cent year-on-year in the financial year 2023-24 to reach 36,075 cases. This figure starkly contrasts with the 13,564 cases reported in the previous fiscal year, FY23. Despite the notable rise in the number of fraud cases, there was a substantial decrease in the total amount involved in these incidents. The amount of money associated with total bank frauds plummeted by 46.7 per cent year-on-year in the financial year 2023-24, totaling Rs 13,930 crore. In comparison, the amount recorded in FY23 stood at Rs 26,127 crore. RBI has proposed a revision of the limit of bulk deposits for Scheduled Commercial Banks (SCBs) and Small Finance Banks (SFBs). This move, aimed at enhancing flexibility and aligning with evolving market dynamics, underscores the RBI's commitment to fostering a conducive environment for the banking sector. Currently, banks have the discretion to offer differential rates of interest on bulk deposits based on their requirements and Asset-Liability Management (ALM) projections. The existing bulk deposit limit for SCBs (excluding Regional Rural Banks) and SFBs, set at 'Single Rupee term deposits of Rs 2 crore and above,' was established in 2019. However, following a comprehensive review, the RBI has proposed to revise this definition to 'Single Rupee term deposits of Rs 3 crore and above' for SCBs and SFBs. In addition to the proposed revision for SCBs and SFBs, the RBI has also suggested defining the bulk deposit limit for Local Area Banks (LABs) as 'Single Rupee term deposits of Rs 1 crore and above,' mirroring the criteria applicable to Regional Rural Banks (RRBs). RBI has also unveiled plans to rationalize export and import regulations under the Foreign Exchange Management Act (FEMA), 1999. This initiative, driven by the imperative of progressive liberalization and operational flexibility, underscores the RBI's commitment to fostering a conducive environment for international trade and investment. By eliminating redundancies, enhancing clarity, and reducing procedural complexities, the RBI aims to promote ease of doing business for all stakeholders involved in cross-border trade. The RBI aims to streamline and simplify operational procedures related to export and import transactions, thereby reducing administrative burdens and enhancing efficiency for businesses and authorized dealer banks. By aligning regulations with international best practices and market realities, the RBI seeks to create a business-friendly environment conducive to fostering trade and investment growth. Simplified regulations will facilitate smoother trade transactions, encouraging businesses to explore new markets and expand their global footprint. While promoting ease of doing business, the RBI remains committed to ensuring compliance with regulatory requirements and safeguarding the integrity of the financial system. The proposed rationalization will uphold the principles of transparency, accountability, and risk management in cross-border transactions. As part of the process, the RBI plans to publish draft regulations and directions on its official website by the end of June 2024. In a bid to enhance the convenience and efficiency of digital payments, RBI has unveiled plans to expand the e-mandate framework to include recurring payments for Fastag, National Common Mobility Card (NCMC), and similar services. This initiative, aimed at modernizing payment systems and promoting financial inclusion, underscores the RBI's commitment to fostering innovation and leveraging technology to meet evolving consumer needs. The current UPI Lite service permits customers to load their UPI Lite wallets with up to Rs 2000/- and conduct transactions of up to Rs 500 from the wallet. To enhance the seamless usage of UPI Lite for customers, and in response to feedback from various stakeholders, it is suggested to integrate UPI Lite into the e-mandate framework. This integration would introduce an auto-replenishment feature for UPI Lite wallets, automatically refilling the wallet balance when it falls below a predetermined threshold set by the customer. Since the funds remain under the customer's control (transferring from their account to the wallet), it is proposed to eliminate the need for additional authentication or pre-debit notifications. Relevant guidelines pertaining to this proposal will be issued shortly. RBI has embarked on a mission to foster innovation and transformation in the financial sector with the launch of its third edition of the global hackathon, "HARBINGER 2024 - Innovation for Transformation." It would feature two primary themes: 'Zero Financial Frauds' and 'Being Divyang Friendly.' Solutions aimed at bolstering the safety and security of digital transactions, with a specific emphasis on identifying, preventing, and combating financial frauds, will be solicited. Additionally, there will be a focus on fostering inclusivity for individuals with physical disabilities. Further details regarding the hackathon will be unveiled shortly. SEE ALSO:<a href="https://www.businessinsider.in/tech/news/indian-smartwatch-shipments-remain-flat-in-q1-2024-the-year-expected-to-end-in-a-decline/articleshow/110789121.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indian-smartwatch-shipments-remain-flat-in-q1-2024-the-year-expected-to-end-in-a-decline/articleshow/110789121.cms" target="_blank">Indian smartwatch shipments remain flat in Q1 2024, the year expected to end in a decline</a><a href="https://www.businessinsider.in/tech/news/computex-2024-intel-debuts-lunar-lake-chips-with-focus-on-microsofts-ai-ambitions-for-pcs/articleshow/110745670.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/computex-2024-intel-debuts-lunar-lake-chips-with-focus-on-microsofts-ai-ambitions-for-pcs/articleshow/110745670.cms" target="_blank">Computex 2024: Intel Debuts Lunar Lake Chips With Focus On Microsoft’s AI Ambitions For PCs</a><a href="https://www.businessinsider.in/business/auto/news/may-auto-sales-tata-motors-and-hyundai-continue-to-fight-for-the-second-spot-as-car-sales-grow-by-4/articleshow/110649713.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/may-auto-sales-tata-motors-and-hyundai-continue-to-fight-for-the-second-spot-as-car-sales-grow-by-4/articleshow/110649713.cms" target="_blank">May Auto Sales – Tata Motors and Hyundai continue to fight for the second spot as car sales grow by 4%</a>

RBI announces digital payments intelligence platform to check online frauds

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Welcome back to our Sunday edition. Maybe it's <a target="_blank" class="" href="https://www.businessinsider.com/how-to-tell-imposter-syndrome-versus-bad-at-job-2024-9">imposter syndrome</a>, or maybe you're bad at your job. Microsoft's former vice president of HR shares <a target="_blank" href="https://www.businessinsider.com/microsoft-hr-performance-signs-bad-at-job-2024-10">three signs it's the latter</a>.On the agenda today:<ul><li>Meet the exec tasked with Citi's biggest challenge: <a target="_blank" href="https://www.businessinsider.com/citi-anand-selva-transformation-consent-orders-fines-2024-10">getting the bank's house in order</a>.</li><li>Amazon's growing cash mountain has <a target="_blank" href="https://www.businessinsider.com/amazon-big-tech-cash-king-wall-street-wants-a-piece-2024-10">Wall Street licking its lips</a>.</li><li>Millennials are about to be crushed by <a target="_blank" href="https://www.businessinsider.com/millennial-gen-x-boomer-inheritance-stuff-house-collectibles-2024-10">all the junk their parents accumulated</a>.</li><li>A writer finally caved and got solar panels. <a target="_blank" href="https://www.businessinsider.com/solar-industry-collapse-my-roof-nightmare-2024-10">It turned out to be a huge mistake</a>.</li></ul>But first: Elon Musk's robotaxi got lost on the way to Wall Street.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today-sunday-edition">sign up here</a>. Download Insider's app <a target="_blank" href="https://www.insider.com/app">here.</a><h3 id="58506b3b-b008-4ead-9e90-71439c9e98dd">This week's dispatch</h3><h2 id="445f5814-a55f-4878-a10e-9b6683bfa158">Robotaxi dreams meet Wall Street reality</h2>Elon Musk unveiled Tesla's <a target="_blank" href="https://www.businessinsider.com/tesla-robotaxi-event-cybercab-elon-musk-2024-10">robotaxi</a>, along with a <a target="_blank" href="https://www.businessinsider.com/what-we-know-about-teslas-new-robovan-so-far-2024-10">robovan</a> and updates to its <a target="_blank" href="https://www.businessinsider.com/elon-musk-tesla-robotaxi-event-optimus-robot-serves-drinks-dances-2024-10">humanoid</a> robot, at a flashy event in Los Angeles this week. Wall Street wasn't buying it.The billionaire took a ride in Tesla's new Cybercab around Warner Bros. Discovery's movie studio in Burbank, later saying it would be in production before 2027 and could sell for less than $30,000.Investors didn't seem convinced. <a target="_blank" href="https://www.businessinsider.com/elon-musk-tesla-robotaxi-cybercar-analysts-self-driving-fleet-ai-2024-10">Tesla's stock</a> finished Friday down almost 9%, leaving shares down 17% over the past year.Musk has long promised a robotaxi, saying in 2019 that Tesla would have a million of them on the road by 2020. That prediction was later revised to 2023. Five years on from that first prediction, Tesla remains <a target="_blank" href="https://www.businessinsider.com/elon-musk-tesla-robotaxi-safety-regulation-2024-10">some distance away from fully autonomous driving</a>, and doesn't yet have permission to let driverless cars loose on open streets.In the meantime, tech startups and old-guard Detroit automakers have <a target="_blank" href="https://www.businessinsider.com/robotaxi-ridesharing-tesla-waymo-uber-2024-10">developed their own versions of self-driving tech</a> that can <a target="_blank" href="https://www.businessinsider.com/tesla-robotaxi-elon-musk-ride-hailing-uber-lyft-waymo-rivals-2024-10">more or less match Tesla</a>. You can already <a target="_blank" href="https://www.businessinsider.com/waymo-robot-taxis-weird-san-francisco-traffic-parking-cars-2024-9">order a driverless Waymo</a> in three major cities today.It's tough to bet against Elon Musk, as many on <a target="_blank" href="https://www.businessinsider.com/tesla-short-sellers-bleed-billions-elon-musk-threatens-obliteration-2024-7">Wall Street</a> have discovered. If Tesla does crack fully autonomous driving, it could herald a new era for the company. But for now, investors are skeptical about Tesla's self-driving dreams.<h2 id="8de1f093-db58-438e-a296-ab09ff92ad5c">Save our Citi</h2><div type="image" title="&quot;Photo collage featuring Anand Selva, chief operating officer, with Citibank's logo in the background" height="1500" width="2000" msid="114190225" hostid="261" sizebytes="179366"></div>Last year, Anand Selva was named Citigroup's COO. His mandate: oversee an unsexy yet crucial initiative to regain compliance with regulators. He's been tasked with overseeing the "Transformation," an aptly named initiative to overhaul the bank's technology.BI spoke with 14 current and former Citi employees who've worked under Selva to get a picture of the challenge facing him — and why he was put in charge of the bank's No. 1 priority.<a target="_blank" href="https://www.businessinsider.com/citi-anand-selva-transformation-consent-orders-fines-2024-10">Inside Selva's tenure so far</a>.<h2 id="8d221ec2-a40e-4d73-80e7-638d6c30f428">Big Tech's cash king</h2><div type="image" title="Andy Jassy" height="1000" width="2000" msid="114190226" hostid="261" sizebytes="205428"></div>Amazon has long been famous for running on thin margins, reinvesting most of its profits, and holding relatively little cash compared with peers. By 2027, that's expected to change, with the company's cash balance estimated to hit $400 billion.That number puts it on track to far outpace rivals Alphabet and Microsoft. Wall Street is taking note, and Amazon could soon face pressure to return some of its cash with buybacks or dividends.<a target="_blank" href="https://www.businessinsider.com/amazon-big-tech-cash-king-wall-street-wants-a-piece-2024-10">Wall Street wants in on the action</a>.<h2 id="69bad2e5-a5bf-4ba9-b958-e3eff00ffc5b">The boomer stuff avalanche</h2><div type="image" title="A mountain of antique items with a cutout in the shape of a person with their arms on their hips in the center of the pile" height="1500" width="2000" msid="114190227" hostid="261" sizebytes="591740"></div>An old boomer habit is raining down on their children: There's too much stuff, and not enough space.Boomers have spent lifetimes acquiring things, and their Gen X, millennial, and Gen Z progeny are figuring out what to do with everything. Family dynamics can make it hard to say no, even if there's no use or space for all that junk.<a target="_blank" href="https://www.businessinsider.com/millennial-gen-x-boomer-inheritance-stuff-house-collectibles-2024-10">The "great stuff transfer."</a><h2 id="dc96d953-8312-4bf5-8432-dfb9ba5779e5">A solar panel fiasco</h2><div type="image" title="a house with solar panels burns down." height="1000" width="1334" msid="114190228" hostid="261" sizebytes="173944"></div>Business Insider's Vishal Persaud spent months getting his solar panels installed and inspected. All that was left was to switch them on, but the solar panel company needed final approval from its partner, SunPower, to do so. Then, SunPower filed for bankruptcy protection.Despite the ongoing climate crisis, much of the solar panel industry is cooling. Over the years, it's faced high interest rates that have decimated demand, questionable financial engineering, and more than 100 bankruptcies across America in 2024 alone.<a target="_blank" href="https://www.businessinsider.com/solar-industry-collapse-my-roof-nightmare-2024-10">Now some customers are stuck in solar purgatory</a>.This week's quote:"When you move fast and break things in healthcare, you go to jail."— 27-year-old startup founder Ibrahim Rashid on <a target="_blank" href="https://www.businessinsider.com/gen-z-tech-founder-gap-zuckerberg-bezos-holmes-2024-10">the lessons learned from intrepid tech founders</a>.More of this week's top reads:<ul><li>The hidden upside of a college degree: <a target="_blank" href="https://www.businessinsider.com/college-graduates-more-likely-have-friends-participate-community-civil-engagement-2024-10">Having more friends</a>.</li><li>The housing market's Ice Age is <a target="_blank" href="https://www.businessinsider.com/housing-market-ice-age-homebuyers-mortgage-rates-spring-real-estate-2024-10">finally starting to thaw</a>.</li><li>Dell's sudden five-day RTO order left parents <a target="_blank" href="https://www.businessinsider.com/dell-staff-return-office-order-sparks-panic-parents-childcare-wfh-2024-10">scrambling to find childcare</a>.</li><li>Five things to include in your résumé, and <a target="_blank" href="https://www.businessinsider.com/cant-get-job-what-to-never-always-include-resume-hiring-2024-10">eight things to leave out</a>.</li><li>Welcome to the <a target="_blank" href="https://www.businessinsider.com/job-market-outlook-claudia-sahm-layoffs-hiring-economy-twilight-zone-2024-10">job market "Twilight Zone."</a></li><li>How politicians' fundraising appeals got to <a target="_blank" href="https://www.businessinsider.com/politicians-desperate-fundraising-appeals-2024-10">sound so desperate</a>.</li><li>Want to get into the AI industry? <a target="_blank" href="https://www.businessinsider.com/abu-dhabi-uae-ai-powerhouse-mgx-openai-investment-2024-10">Head to Abu Dhabi</a>.The Insider Today team: <a target="_blank" href="https://www.businessinsider.com/author/dan-defrancesco">Dan DeFrancesco</a>, deputy editor and anchor, in New York. <a target="_blank" class="" href="https://www.businessinsider.com/author/jordan-parker-erb">Jordan Parker Erb</a>, editor, in New York. Grace Lett, editor, in Chicago. <a target="_blank" class="" href="https://www.businessinsider.com/author/amanda-yen">Amanda Yen</a>, fellow, in New York.</li></ul>

Insider Today: Robotaxi reality check

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Welcome back! With the holidays right around the corner, a friendly reminder to catch up with your elderly family members. It can <a style="text-decoration: underline;" href="https://www.insider.com/visit-family-friends-social-interaction-help-live-longer-study-2023-11">literally help save their lives</a>, according to scientists.In today's big story, we're looking at what the $650 billion in unrealized losses <a style="text-decoration: underline;" href="https://markets.businessinsider.com/news/bonds/bond-market-crash-banks-unrealized-losses-treasurys-rates-balance-sheet-2023-11">means for financial firms</a>. (Hint: It's not as bad as it seems.)What's on deck: <ul><li>Markets: A famed short-seller talks about everything from <a style="text-decoration: underline;" href="https://markets.businessinsider.com/news/stocks/short-seller-jim-chanos-crypto-bitcoin-tesla-ai-tech-etf-2023-11">crypto to Tesla</a>.</li><li>Tech: Inside the <a style="text-decoration: underline;" href="https://www.businessinsider.com/amazon-gives-apple-special-treatment-while-others-suffer-junk-ads-2023-11">secret deal between Apple and Amazon</a>.</li><li>Business: How remote workers are "double dipping" and <a style="text-decoration: underline;" href="https://www.businessinsider.com/overemployed-workers-secret-two-multiple-jobs-salaries-tech-tips-2023-11">secretly working two full-time jobs</a>.</li></ul>But first, it's only a loss... if it's realized.<h2>The big story</h2>Unrealized losses, real fear<a href="https://www.businessinsider.com/subscription/newsletter/insider-today"></a><a href="https://markets.businessinsider.com/news/bonds/bond-market-crash-banks-unrealized-losses-treasurys-rates-balance-sheet-2023-11"></a><div type="image" title="SVB" height="3648" width="4864" msid="105189827" hostid="261" sizebytes="317398"></div>$650 billion.That's the unrealized losses US financial firms wracked up as of September 30, <a style="text-decoration: underline;" href="https://markets.businessinsider.com/news/bonds/bond-market-crash-jpmorgan-bank-of-america-unrealized-losses-explainer-2023-11">according to Moody's estimate</a>. It's a 15% bump since the end of June, thanks in large part to the <a style="text-decoration: underline;" href="https://markets.businessinsider.com/news/bonds/bond-market-crash-what-are-treasury-yields-stocks-economy-americans-2023-10?utm_medium=ingest&amp;utm_source=markets">rout in the bond market</a>. And with the sell-off continuing well into October, that figure is now likely even worse. That's a pretty scary number! To put things in perspective, if those losses were a country's GDP, it'd be <a style="text-decoration: underline;" href="https://www.worldometers.info/gdp/gdp-by-country/" target="_blank" rel="noopener">just shy of the top 20</a>. But the numbers also don't tell the entire story. Similar to my potential to become a star NFL quarterback, the losses are unrealized. That means there's a lot of wiggle room for how big banks can portray them on their balance sheet. Insider's Matthew Fox <a style="text-decoration: underline;" href="https://markets.businessinsider.com/news/bonds/bond-market-crash-banks-unrealized-losses-treasurys-rates-balance-sheet-2023-11">has a full breakdown</a> of why banks can easily diffuse these balance-sheet bombs. Whether it's simply holding them until maturity (meaning they won't suffer any losses) or cashing them out and reinvesting in higher-yielding bonds, banks have ways to <a style="text-decoration: underline;" href="https://markets.businessinsider.com/news/bonds/bond-market-crash-banks-unrealized-losses-treasurys-rates-balance-sheet-2023-11">navigate the paper losses</a>.<a href="https://markets.businessinsider.com/news/bonds/bond-market-crash-banks-unrealized-losses-treasurys-rates-balance-sheet-2023-11"></a><div type="image" title="Chart showing the US big four bank stocks in 2023" height="428" width="671" msid="105189828" hostid="261" sizebytes="24690"></div>Of course, just because something isn't realized doesn't mean it's completely risk-free. They said the Titanic was <a style="text-decoration: underline;" href="https://www.britannica.com/story/did-anyone-really-think-the-titanic-was-unsinkable" target="_blank" rel="noopener">unsinkable</a>, and we all know how that ended. I don't mean to be a fearmonger, but perception can quickly become a reality, especially with Wall Street's herd mentality. A firm could have no plans of selling its bonds for a loss. But if enough people fear they might do it, things can escalate quickly. Lest we forget <a style="text-decoration: underline;" href="https://www.businessinsider.com/silicon-valley-bank-svb-first-social-media-bank-run-2023-3">Silicon Valley Bank</a>. To be sure, big banks are better capitalized than SVB. Bank of America, which is sitting on some $130 billion in paper losses, has been adamant about its intention to hold its government securities to maturity. But circumstances change. While the bond sell-off has cooled, there's always a risk it could spike again, putting even more pressure on banks to eventually pull the trigger.Even if things don't get so dire, those unrealized losses still feel pretty real to investors. Big banks' share prices noticeably dropped as bond prices sunk. Therein lies the biggest issue. Regulations already limit banks' balance sheets. Having more capital tied up in these bonds only further hamstrings lenders. And it couldn't come at a worse time, as new players <a style="text-decoration: underline;" href="https://www.businessinsider.com/news-today-november-1-blackrock-private-credit-risks-lending-2023-11">keep pushing into their territory</a>.<h2>News brief </h2>Your Monday headline catchupA quick recap of the top news from over the weekend:<ul><li><a href="https://www.businessinsider.com/tim-scott-drops-out-of-gop-race-for-president-2023-11">Tim Scott drops out of GOP primary race after girlfriend reveal</a></li><li><a href="https://www.businessinsider.com/iceland-state-of-emergency-risk-of-volcanic-eruption-2023-11">Iceland issues state of emergency and closes world-famous Blue Lagoon over fears of a volcanic eruption</a></li><li><a href="https://www.insider.com/best-outfits-celebrites-wore-baby2baby-gala-2023-11">13 of the best looks celebrities wore to the 2023 Baby2Baby Gala</a></li><li><a href="https://www.businessinsider.com/us-patriot-missile-defense-system-cost-middle-east-syria-iraq-2023-11">The US is sending more Patriot defense systems to the Middle East. They cost $1.1 billion each</a></li><li><a href="https://markets.businessinsider.com/news/bonds/chinese-financial-markets-sovereign-bond-sale-rates-liquidity-cash-crunch-2023-11">China's latest stimulus effort unintentionally creates chaos in its financial markets as short-term rates hit 50%</a></li></ul><h2>3 things in markets</h2><a href="https://markets.businessinsider.com/news/stocks/short-seller-jim-chanos-crypto-bitcoin-tesla-ai-tech-etf-2023-11"></a><div type="image" title="Jim Chanos" height="2000" width="2666" msid="105189829" hostid="261" sizebytes="104998"></div><ul><li>Short-seller Jim Chanos sounds off. From crypto to Tesla and AI, Chanos touched on plenty of topics. "You have to understand that the crypto ecosystem is well-suited for the dark side of finance for a lot of reasons," Chanos said in a recent interview. <a style="text-decoration: underline;" href="https://markets.businessinsider.com/news/stocks/short-seller-jim-chanos-crypto-bitcoin-tesla-ai-tech-etf-2023-11">Check out his four best quotes here</a>. </li><li>How to tell if a deal is in the works. Bank of America detailed the <a style="text-decoration: underline;" href="https://www.businessinsider.com/how-to-stocks-merger-acquisition-investing-strategy-bank-of-america-2023-11">key signs to look out for ahead of a company getting acquired</a>. The bank's analysts also highlighted 10 stocks that are prime acquisition targets, including Ralph Lauren and Expedia. </li><li>Two recession indicators are flashing, but it's not as bad as it sounds. The bad news: Indicators tied to the unemployment rate and the yield curve are <a style="text-decoration: underline;" href="https://markets.businessinsider.com/news/bonds/recession-indicators-stock-market-outlook-yield-curve-sahm-jobless-rate-2023-11">hinting the market is headed down</a>. The good news: They're being driven by something different than usual, meaning a recession isn't as big of a concern.</li></ul><h2>3 things in tech</h2><a href="https://www.businessinsider.com/amazon-gives-apple-special-treatment-while-others-suffer-junk-ads-2023-11"></a><div type="image" title="Screenshots of Apple products on Amazon" height="1000" width="1333" msid="105189830" hostid="261" sizebytes="78240"></div><ul><li>Leaked internal email: Apple privately asked Amazon to block rival ads. Product pages for other companies are cluttered with a mix of ads and product recommendations from competitors. Meanwhile, <a style="text-decoration: underline;" href="https://www.businessinsider.com/amazon-gives-apple-special-treatment-while-others-suffer-junk-ads-2023-11">Apple doesn't have ads or recommendations</a> until the very bottom. </li><li>Twitch CEO is somewhat living the van life. Dan Clancy is traveling the US in a van to <a style="text-decoration: underline;" href="https://www.businessinsider.com/twitch-ceo-driving-van-meet-streamers-ninja-t-pain-report-2023-11">meet top streamers</a> and hear their concerns. Plus, he's reportedly even giving some of them his personal phone number.</li><li>Emails reveal how Amazon and Google tap friends in government to influence policies. Last year, more than 80% of Amazon and Alphabet lobbyists <a style="text-decoration: underline;" href="https://www.businessinsider.com/amazon-google-ustr-lobbyists-policies-government-biden-emails-2023-11">previously held government jobs</a>. Critics say that this relationship lets Big Tech companies limit how they can be regulated.</li></ul><h2>3 things in business</h2><a href="https://www.businessinsider.com/overemployed-workers-secret-two-multiple-jobs-salaries-tech-tips-2023-11"></a><div type="image" title="A remote worker on two desktops" height="1500" width="2000" msid="105189832" hostid="261" sizebytes="227270"></div><ul><li>Inside the strange, secretive lives of the "overemployed." Holding multiple jobs has long been the backbreaking way for low-wage workers to get by. But the pandemic has fueled a <a style="text-decoration: underline;" href="https://www.businessinsider.com/overemployed-workers-secret-two-multiple-jobs-salaries-tech-tips-2023-11">similar trend among higher earners</a>. An Insider reporter spent several weeks hanging in the online communities of the overemployed. </li><li>Big firms are now eyeing Airbnb as a moneymaker. A major private-equity firm recently <a style="text-decoration: underline;" href="https://www.businessinsider.com/wall-street-next-airbnb-host-short-term-rental-2023-11">started buying Florida homes</a> to rent on Airbnb. But making a profit can be challenging for individuals and major companies alike. </li><li>Why strikes are working and which industries could be next. Experts said the economy is ripe for <a style="text-decoration: underline;" href="https://www.businessinsider.com/uaw-sagaftra-union-strikes-impact-pay-benefits-economy-healthcare-teachers-2023-11">workers to demand more</a> — partially because of the record profits some companies have recorded recently. They also said healthcare and food service are among the next industries to join the wave. </li></ul><h2>In other news</h2><ul><li><a href="https://www.insider.com/safest-states-in-the-us-ranked-2023-11">The 20 safest states in the US, ranked</a>.</li><li><a href="https://www.insider.com/american-dad-in-sweden-shares-differences-in-schools-2023-11">We moved from the US to Sweden. After-school care was basically free, but my kid barely learned any math</a>.</li><li><a href="https://www.businessinsider.com/spacex-workers-took-adderall-slept-bathroom-iv-treatments-deadlines-report-2023-11">SpaceX workers reportedly took Adderall and IV fluids, and some slept in the bathroom, to keep up with Elon Musk's deadlines</a>.</li><li><a href="https://www.businessinsider.com/how-to-lower-mortgage-rate-monthly-payment-real-estate-expert-2023-11">Four things homebuyers can ask for that could significantly drop the interest rate and monthly payment</a>.</li><li><a href="https://www.businessinsider.com/worked-new-dollar-general-started-falling-apart-before-it-opened-2023-11">"I quit my job at a brand-new Dollar General store after facing flooding, broken freezers, and frosty bathrooms.</a>"</li><li><a href="https://www.businessinsider.com/species-name-celebrity-awareness-regret-taxonomy-2023-11">Naming a species after a celebrity may do more harm than good</a>.</li><li><a href="https://www.businessinsider.com/top-stocks-to-buy-for-upside-analysts-ratings-tipranks-2023-11">These eight "strong buy" stocks are expected to soar by more than 100% to 200%, according to Wall Street's top analysts</a>.</li></ul><h2>What's happening today</h2><ul><li>Happy World Kindness Day! The day is meant to celebrate and spread kindness. It was created by the World Kindness Movement.</li><li>Professional hockey team Vegas Golden Knights visits the White House. The trip is to celebrate the team's 2023 Stanley Cup win.</li><li>Earnings today: Tyson Foods <a style="text-decoration: underline;" href="https://markets.businessinsider.com/earnings-calendar">and other companies</a>.</li></ul><h2>For your bookmarks</h2><a href="https://www.businessinsider.com/guides/deals/black-friday-deals"></a><div type="image" title="black friday gift box" height="1414" width="1885" msid="105189833" hostid="261" sizebytes="50836"></div>Early Black Friday dealsWhat to expect from Black Friday this year (plus, early offers). The guide covers TVs, laptops, fashion, mattresses, toys, <a style="text-decoration: underline;" href="https://www.businessinsider.com/guides/deals/black-friday-deals">and other hot categories</a>.The Insider Today team: <a href="https://www.businessinsider.com/author/dan-defrancesco">Dan DeFrancesco</a>, senior editor and anchor, in New York City. <a href="https://www.businessinsider.com/author/diamond-naga-siu">Diamond Naga Siu</a>, senior reporter, in San Diego. <a href="https://www.businessinsider.com/author/hallam-bullock">Hallam Bullock</a>, editor, in London. <a href="https://www.businessinsider.com/author/lisa-ryan">Lisa Ryan</a>, executive editor, in New York.

Balance-sheet blowup

<ul><li>You will have to first link your bank account to <keyword id="4878801" type="General" weightage="20" keywordseo="whatsapp-pay" source="Orion">WhatsApp Pay</keyword>.</li><li>The bank account balance can be viewed either from settings or from the payment message screen.</li><li>To view your account balance, you will need to input the UPI PIN.</li></ul>Most of us use WhatsApp as an instant messaging application, but since last year, the Facebook-owned platform has been <a href="https://www.businessinsider.in/tech/news/whatsapp-pay-upi-rolls-out-while-google-pay-phonepe-have-already-got-the-first-sting-with-the-npci-cap/articleshow/79075049.cms">offering UPI payments</a> in India. You can use WhatsApp to send and receive money just like any other UPI payment applications such as Google Pay, PhonePe and Paytm. If you haven’t set up WhatsApp payment, you can do that in the app by heading over to the Payments option in Settings on iOS devices or by tapping the three-dot More options icon on Android devices. Select ‘Add payment method’ and follow the instructions. It’s important to note that you can only select a bank account that is associated with your WhatsApp number. At the end of the process, you will have to set up a PIN which has to be remembered for making further use of the UPI payment services. Once you have set-up the payment method and added a bank account, you can check your bank account’s balance using the two methods given below. <cmsannotation type="cmsannotation" annotationid="Check bank account balance from Settings." comment="subhead" text="Check bank account balance from Settings.">Check bank account balance from Settings.</cmsannotation> <ul><li>Open the WhatsApp application.</li><li>On iOS, tap on Settings at the bottom of the screen, or on Android OS, tap on the three-dot icon at the top right of the main screen.</li><li>Select Payments.</li><li>Under the Payment methods, choose the relevant bank account.</li><li>Tap on View Account Balance and it will prompt you to input the PIN.</li><li>Your bank account balance will be displayed once you enter the PIN.</li></ul><cmsannotation type="cmsannotation" annotationid="Check bank account balance when sending money" comment="subhead" text="Check bank account balance when sending money">Check bank account balance when sending money</cmsannotation> You can also check your account balance while sending money from the payment message screen. Follow the steps below to check your balance. <ul><li>From the payment message screen, tap on the available payment method.</li><li>If you have linked more than one bank account to WhatsApp Pay, tap on the account whose balance you wish to view.</li><li>Now, tap on View Account Balance.</li><li>When prompted, enter the PIN to check your account balance.</li></ul>Alternatively, some banks also offer free banking services to customers over WhatsApp. Save the contact of the WhatsApp chatbot number associated with your bank and send a ‘Hi’ message. A menu of services will be prompted in the chatbox that will include viewing your account balance option. Respond with the selection to view your account balance. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/how-to-take-screenshots-on-windows-10-8-and-7/articleshow/86168223.cms">How to take screenshots on Windows 10, 8 and 7</a> <a href="https://www.businessinsider.in/how-to-delete-facebook-account-permanently/articleshow/70313851.cms">How to delete Facebook account permanently</a> <a href="https://www.businessinsider.in/tech/how-to/how-to-fix-gmail-if-youre-not-receiving-emails/articleshow/86105969.cms">How to fix Gmail if you're not receiving emails</a>

Here’s how to check your bank account balance using WhatsApp Pay

Incorporated in 1955, <keyword id="6354731" type="General" weightage="20" keywordseo="state-bank-of-india" source="Orion">State Bank of India</keyword> has been offering community service banking in India. One of the largest public sector banks in India, SBI is headquartered in Mumbai with its branches proliferated in nooks and corners of the country. Statistics show that <a href="https://www.capitalmarket.com/Company-Information/Information/About-Company/State-Bank-of-India/1375">SBI is the largest</a> state-owned banking and financial services company in the nation with more than 16,000 branches. SBI offers a portfolio of services and provides the most convenient tools, features and facilities for banking to its customers. Forbes magazine has identified SBI as the 10th most reputed company in the world. If you have a Bank Account with SBI (State Bank of India), you can check your account balance in quite a many ways including by dialing the toll-free number, SMS Banking, SBI Quick, Net Banking, Mobile Banking, and by visiting the ATM. <cmsannotation type="cmsannotation" annotationid="SBI Balance enquiry on the Toll-free Number" comment="subhead" text="SBI Balance enquiry on the Toll-free Number">SBI Balance enquiry on the Toll-free Number</cmsannotation> If you are an SBI customer, you can check your account balance through SMS banking services offered by the bank. Through this service, you can get your account balance details or a mini-statement. All that you have to do is to give a missed call or send an SMS from your registered mobile number to the SBI Balance enquiry number (toll free). Within a few seconds, you will get the balance details on your phone. Send SMS “BAL” to 09223766666 You can get your up-to-date SBI account balance information by sending an SMS “BAL” to the number 09223766666 from your registered mobile number. To get a mini statement, you can SMS “MSTMT” to 09223866666. The mini statement you get will have the full details of the last few transactions that happened on your account. <cmsannotation type="cmsannotation" annotationid="Check A/c balance by SBI Net Banking" comment="subhead" text="Check A/c balance by SBI Net Banking">Check A/c balance by SBI Net Banking</cmsannotation> SBI Account holders who have registered for net banking can use this service to check balance. In this process, you need to use your login id and password to log into your net banking account. Through this avenue, you can do balance enquiry, carryout funds transfer, or apply for personal loans, home loans or mortgage loans. SBI SMS Service You can register your mobile number to receive account balance via SMS. To register for this SBI SMS Service facility, follow the steps below. From the mobile number registered with SBI, SMS “REG&lt;space&gt;Account Number” to 09223488888. SBI will send you a message confirming the registration. Once this is done, you can use this service for several purposes including checking SBI account balance, get a mini statement, request for cheque book, get an e-statement, or get an education loan interest certificate or home loan interest certificate. <cmsannotation type="cmsannotation" annotationid="Balance check via mobile apps" comment="subhead" text="Balance check via mobile apps">Balance check via mobile apps</cmsannotation> SBI offers a number of mobile banking apps for the convenience of its customers. Some of the apps of SBI you can download and use on your mobile phone are SBI Anywhere, SBI Quick, SBI Online, and SBI Anywhere Saral (SBI mPassbook). Install any one of these apps on your mobile phone and follow the user friendly instructions for setting up. These apps make banking functions a pleasure and highly convenient experience for SBI customers. <cmsannotation type="cmsannotation" annotationid="Check balance account by SBI ATM Card" comment="subhead" text="Check balance account by SBI ATM Card">Check balance account by SBI ATM Card</cmsannotation> If you are an SBI customer, you can check account balance information at the ATM using the debit card issued by the bank. To know your account balance in this method, visit the SBI ATM and follow the steps below. Swipe your SBI debit card at the ATM When prompted, input the 4-digit ATM PIN Select the option “Balance Enquiry” Complete the transaction Using this method, you can also get the details of last 10 transactions by choosing the option “Mini Statement”. This command will get you the details of the last 10 transactions on your account in printed format. You can use this method to check your balance on the third party non-SBI ATM services also. There is a downside to using the ATM to check your account balance. SBI customers have a limited number of free ATM transactions per month. Once this number is exceeded, any additional transactions at the ATMs will invite a fee. So, it is advisable that you use other methods for balance check.

How to check account balance in SBI with enquiry number

Our experts answer readers' banking questions and write unbiased product reviews (<a href="https://www.businessinsider.com/personal-finance/personal-finance-editorial-standards#rating-banking-products" class="not-content-link" target="_blank">here's how we assess banking products</a>). In some cases, we receive a commission from <a href="https://www.businessinsider.com/personal-finance/our-partners" class="not-content-link" target="_blank">our partners</a>; however, our opinions are our own. Terms apply to offers listed on this page.Bottom line: The Cash App Mobile Banking - Product Name Only has no fees and unique perks, and it's easy to get one thanks to no minimum deposit. However, it's not a traditional checking account, so it's probably not the right choice if you want access to a full-service bank.<h2>Cash App Banking Review</h2>Cash App is best known for letting users <a href="https://www.businessinsider.com/personal-finance/how-to-wire-money-send-receive-cash-immediately">transfer money</a> to each other, but the company also offers the Cash Card through its banking platform. It's similar to a debit card since you can deposit cash at retail locations, direct deposit your paycheck, and withdraw money at ATMs. But there are some notable differences from your standard debit card — it's easier to set up, there are fewer fees, and you can round up transactions to invest in bitcoin or stock.The Cash App Cash Card is a strong account with no minimum deposit or monthly fees, making it more accessible than some more traditional <a href="https://www.businessinsider.com/personal-finance/best-checking-accounts">checking accounts</a>. Creating an account takes a few seconds, and once you apply, you can get instant access via Google Pay or Apple Pay. But if you use an ATM outside the network, you typically have to pay $2.50 per transaction. You also have to pay $1 per transaction to deposit paper money at retail locations, which can add up.The Cash Card also offers in-app integrations like Round Ups and instant discounts. With a few clicks, you can enable Round Ups, which automatically rounds up your purchases to the nearest dollar. You can put the extra money in your Cash App savings account, select a stock, or invest in bitcoin.Cardholders can also utilize offers for instant discounts at checkout. Cash App provides offers for various retailers, including coffee shops, retailers, and restaurants. Once you activate the offer within the app, you can use it when you pay. <h3>Cash App Pros and Cons</h3><table style="border-collapse: collapse; width: 100%; height: 44px;" border="1"><tbody><tr style="height: 22px;"><td style="width: 50%; height: 22px;">Pros</td><td style="width: 50%; height: 22px;">Cons</td></tr><tr style="height: 22px;"><td style="width: 50%; height: 22px;"><ul><li>No monthly fees or overdraft fees</li><li>Receive your paycheck up to two days early with direct deposit</li><li>In-app discount offers for purchases with certain retailers</li><li>Round up purchases to invest in stock or bitcoin</li><li>FDIC-insured account</li></ul></td><td style="width: 50%; height: 22px;"><ul><li>$2.50 charge for out-of-network ATM transactions unless you direct deposit $300 or more each month</li><li>No joint accounts</li><li>$1 fee per transaction to deposit paper money at retail locations</li></ul></td></tr></tbody></table><h2>How Cash App Banking Compares</h2><h3>Cash App Banking vs. Chime Checking Account</h3>Like Cash App, Chime aims to remove barriers that prevent customers from opening accounts. You don't need to undergo a credit check or banking history review. You also won't pay fees or have minimum account balance requirements, which is similar to the Cash Card. The main difference between the two options is that Chime Checking is a bank account, and Cash App is a financial platform that offers a debit card. Both companies provide solid products that prioritize accessibility. The type of card you want will determine which is a better fit.<a href="https://www.businessinsider.com/personal-finance/chime-bank-review">Chime Banking Review</a><h3>Cash App Banking vs. Capital One 360 Checking Account</h3>Capital One is an <a href="https://www.bankrate.com/banking/best-online-banks/" target="_blank" rel="noopener">online bank</a> with various account options, including the 360 Checking Account. The account offers the typical features associated with top banks — no fees, no minimum deposit, overdraft protection, and a user-friendly app. You have to pay a $2 fee for using an out-of-network ATM, which is nearly the same as Cash App's fee. Capital One offers a discount program with the Capital One Shopping browser. However, the in-app Cash Card discounts provide a more seamless customer experience. It's easy to set up an account with Capital One, and if you prefer access to in-person branches, it might be a better pick. Plus, once you have a Capital One account, applying for additional ones only takes a few seconds. <a href="https://www.businessinsider.com/personal-finance/capital-one-bank-review">Capital One 360 Bank Review</a><h2>Cash App Banking FAQs</h2><h3 class="faq-question">What banking does Cash App use?</h3>Cash App is not a bank. Since it's a banking platform, Cash App partners with Sutton Bank to offer the card. However, it's not a checking account. If you have questions or need assistance with the card, <a href="https://cash.app/help" target="_blank" rel="noopener">contact Cash App</a> instead of Sutton Bank.<h3 class="faq-question">How long does a Cash App card take to arrive?</h3>The application for a Cash App card is quick, and once you apply, you usually get instant access to the card through Apple Pay or Google Pay. The physical card arrives in the mail within 14 days.<h3 class="faq-question">Do you need a bank account for a Cash App Cash Card?</h3>You do not need a bank account for a Cash App Cash Card. You can deposit paychecks, send money, pay for purchases, withdraw at ATMs, and add paper money to your Cash Card without a bank account. Some of those transactions have fees, though.<h3>Why You Should Trust Us: How We Reviewed Cash App Banking</h3>We used Personal Finance Insider's <a href="https://www.businessinsider.com/personal-finance/how-we-rate-checking-savings-money-market-accounts">bank account rating methodology</a> to review the Cash Card. Even though Cash App is not a bank, it offers a debit card, which is typically a banking product. To create a rating for the account, we looked at customer service, the mobile app, ethics and fees. Each category received a rating between 0 and 5, and our ratings factor in how the Cash Card compares to similar accounts. We then averaged those numbers to create a final score.

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