The world’s first “Automated Teller Machine” or “ATM” was launched in a grand ceremony in June 1967 at a branch of Barclays Bank in North London. That first system looked a little different from the systems we know and use today. But almost six decades later, it is difficult to imagine a world where people can withdraw cash only during banking hours. Now, in Australia and around the world, banks are betting big on a new kind of automation that will transform their business models: artificial intelligence (AI).

On Monday, Bendigo Bank said it had signed a multi-year agreement with Google. Under this, he will use the tech company’s Gemini Enterprise AI platform to help in many tasks, which include examining loan applications and detecting fraud. This follows a major agreement between the Commonwealth Bank and OpenAI announced in August, which aims to “bring advanced AI to customers and employees”.

A call for change from AI

What is the future of banking – and whose responsibility is it to deal with the threats? Some big changes have already happened. Right now, AI is helping banks and employees make decisions. It is investigating frauds and scams, tracking credit scores, helping with trading and investment activities, and handling time-consuming daily tasks. It is not only Australian banks that are at the forefront of this work.

For example, US investment bank JP Morgan has created its own AI platform, LLM Suite, which has reportedly been implemented across all of its business lines to help staff perform a variety of tasks. What’s going to happen next? But the next wave of AI adoption may be completely different. Instead of helping humans get things done quickly, technology can be trusted to make decisions and take actions on its own. This is called “Agentic AI”. Although only a few banks – such as Bank of New York Mellon – have tested it so far, the initial results are good.

Giving control to AI can increase productivity

Recent research from consulting firm McKinsey details a case study of a large global bank that created ten “teams” of AI agents to handle a new customer application from start to finish. These AI agents checked government registries, verified identities, checked restrictions and prepared reports. Humans helped only in a few cases.Increased productivity? According to McKinsey, basic AI automation can make teams 15-20 percent faster, but handing over complete control to AI can increase productivity by 200 percent to 2,000 percent.

Difficult Lessons Australian banks are betting too much on this future. But they are also learning hard lessons about the human cost. In July, 45 call center employees at the Commonwealth Bank were told they were out of a job following the introduction of an AI chatbot. What does all this mean for the future of banking? This means that in the coming time, AI systems will be able to run the entire banking system on their own. Imagine applying for a loan at 2 in the night and getting approval five minutes later, with AI handling every step of the way. How to deal with the threats?

The public expects banks to deploy accurate, understandable and secure AI systems. But technology is advancing so rapidly that even regulators are struggling to keep up. There is particular concern about algorithmic bias. If AI learns from past data that shows past discrimination, it could perpetuate or even exacerbate lending practices.

Banks themselves are responsible for any mistakes made by AI. Accountability cannot be outsourced to algorithms. However, it is possible that the customer may have to suffer the consequences of those mistakes. AI is going to completely change banking, whether we are ready for it or not. This may mean that banking becomes cheaper, faster and more privatized. But it also threatens jobs, raises privacy concerns and puts too much power in algorithms that most of us do not understand.

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Bank Locker New Rules: There is going to be a big change in banks regarding bank lockers which keep your valuables safe. The Finance Ministry of India has announced several major changes in the banking system from November 1, 2025. In this, new rules have been made along with changes in the rules ranging from bank account to locker keeping.

Actually, changes have been made in a total of 5 laws during this period. In this, laws have been changed for everything from bank account to your locker in the bank. In such a situation, let us know what are the new rules of the bank and what changes have taken place in the bank locker rules.

Locker related rules

It is believed that the changes made in the banking system are going to be very helpful for the people. Meanwhile, the rules related to bank lockers have also been changed. Under the new rules, now the owner of the locker will have to give a priority list, which will know who can open that locker after his death. People can make only one nomination for a bank locker, that is, only four names can be registered for valuables like jewelery and documents kept in the locker. But the thing to be noted in this is that these four names will appear one after the other, that is, only if one is missing, the name of the other person will appear in the list and he will be able to open the locker. The reason for doing this is to resolve disputes and simplify the process because now only one person will be able to open the locker at a time, which will avoid any glitches or delays.

Why were the changes made?

There are many big reasons behind the changes made in bank rules. In fact, now the customer can easily give a fixed percentage of his savings to each nominee so that the total becomes 100 percent. In such a situation, all the processes will remain transparent and will be done easily. Apart from this, Banking Company Rules 2025 will be issued soon. Under these rules, other things like making nomination, rejecting it, information about the form for this will be told in all the banks and this process will be the same in all the banks. Its main aim is to strengthen banking, increase security and provide quality banking services.

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New Bank Rule: November is going to start with a big change. A new rule related to bank accounts is going to come into effect from November 1, 2025, which has been approved by the Finance Ministry. Till now we could add only one nominee in our bank account, so that only he would be entitled to our deposits or locker after us. However, now under the new rule you will be able to add four nominees simultaneously.

This means that now you can make four people from your family or close ones the beneficiaries of your account or locker. This change has been made under the Banking Laws (Amendment) Act 2025, which was notified on 15 April 2025 and will come into effect across the country from 1 November. In such a situation, let us know how you can set 4 nominees on the money deposited in the bank.

What is the new rule?

Earlier, only one nominee could be added to a bank account, but now according to the new rules of the Finance Ministry, a bank account holder can add up to four nominees. You can decide which nominee will get what percentage of share. If you want, you can give equal share to everyone or give more to one and less to others. Nominees can be changed or canceled at any time. There will also be a facility of Successive Nominee, that is, if the first nominee is no more, then the second nominee will himself become entitled to it. At the same time, if you have a bank locker or safe deposit, then new rules will be applicable for that also. Here only successive nominees can be made i.e. the next nominee will be entitled only after the death of the first nominee. The account holder can choose up to four nominees and distribute their stake up to 100 percent.

How to set 4 nominees on the money deposited in the bank, complete process

1. Update your bank account information – First of all, check the basic information of your bank account. Like whether the name is correct or not, whether the mobile number and email are updated or not, whether Aadhaar and PAN are linked or not because the bank verifies this information before adding the nominee.

2. Go to bank branch or net banking – How to set 4 nominees on the money deposited in the bank: You have two methods. In which first go to the nearest branch of the bank and fill the Nomination Update Form and second, if your bank provides this facility, then you can add a new nominee by going to the Nominee section through net banking or mobile app.

3. Fill the complete information of the nominee – You will have to give information about the nominee. Like full name, date of birth, address, bank account number, share percentage. If four nominees are being added, then the percentage of share of each should be 100 percent in total.

4. Select the option of successive or simultaneous nomination – Now decide whether the nominees will be sequential or simultaneous. If you want all the nominees to get the share together, then choose Joint Nomination. If you want that one person should get the rights one after the other, then choose the option of Successive Nomination.

5. Submit the form to the bank and get confirmation – After filling the offline form, the bank officer will check your documents and enter them in the system. On updating online, you will get information through SMS or email.

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Torn notes exchange rules: If there are old, mutilated or torn notes in the house. So many people wonder how to get them replaced in a bank. Such notes are often unable to use the market and outside. But the Reserve Bank and other banks give facilities to change these notes.

The process of replacing chopped notes is easy. Just you have to follow some important rules and steps. Keep in mind that according to the condition, price and bank policy of the note, you can exchange. Know what is its process.

How to exchange note in bank

If you have many cut notes. So there is no need to get upset in such a situation. To change the mutilated notes, you must first go to your nearest bank branch. After this, show the bank officials by counting the notes and taking the form. Bank officials will check the status of the note and the standards have been set. According to him, we will accept.

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Let us tell you that to change the old notes, you must have identity cards like Aadhaar card, PAN card or voter ID. In the bank, you get the facility of cash note exchange up to a limit of 5000 thousand at a time. Whereas for a large amount, you may have to deposit in the bank account. The time of note exchange is fixed by the bank. So find out in advance.

What to do if the bank refuses?

If the bank refuses to change the mutilated notes for some reason, then there is no need to panic. First of all check the status of the note and the guidelines of the bank. Many times the bank exchanges cash notes only to the fixed limit, or does not accept some notes. You can also try in another branch.

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Because the rules of separate branches may be slightly different. Apart from this, after taking information from the Reserve Bank of India website or helpline, find out which notes are exchangeable and which are not. If the notes are not completely bad, it can be easily replaced by depositing it on the bank or special RBI counter.

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Credit cards discounts: Nowadays, people use plastic money i.e. credit card for everything from shopping to loan. Gradually, plastic money is replacing cash and youth are used the most. The most important thing is that if you do not have money now, then you do not need to kill your mind, because with the help of this you can buy anything and pay later.

Not only this, these credit card companies also offer you a lot of cashback offers and full discounts on using their card continuously, but have you ever thought that what do these companies benefit from giving such discounts and how do banks earn from them? Let’s know about this.

How to earn bank with credit card

1. Merchant fees

Whenever you use a credit card to pay, banks charge merchant fees. Merchant fees are a kind of fee that banks charge from a merchant. This fee is charged as the bank’s infrastructure, security and transaction processing expenses. Usually this fee is between 2 to 3%.

2. Interest on credit card

When you buy someone on the same loan from your credit card, the bank gives 45 days to return this money. For these 45 days, the bank does not charge any interest on this money, but even after the end of the date date, if no one returns the money to the bank, the bank starts imposing interest on it. This interest rate is between 30 and 38 percent annually. Apart from this, if you make EMI, then banks also charge a lot of interest on it.

3. Marketing Tie Up Charge

Now talk about discounts, then banks also charge marketing tie up from many companies. That is, you bought some goods from a company and they gave you a discount on using a special bank’s credit card in payment mode. In such a situation, brands try to reach more customers through these discounts. When you get exemption on buying something from a credit card, then the next time people consider the use of credit card better for discounts.

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The screenshot of an internal email of UCO Bank has gone viral on social media platforms. This viral screenshot has created a stir in UCO Bank. In this email, a senior bank official has been accused of inhuman and poorly engaged with employees.

In the title of this email sent to the top management of the bank, the employee wrote, ‘Complaints about the inhuman and poor behavior of Chennai zonal head, request for quick action.’ In the email, an employee of the bank made the zonal head of Chennai Zone R.K. S. Ajit has been accused that they spoil the atmosphere of the office with fear and threats and treat the authorities in such a way as if they are not their professionals but their servants.

In the complaint, the zonal head was declared a dictator, derogatory and insensitive. Along with this, many examples have also been shared in the email, when he also refused to leave employees in family emergency.

What are the examples of the bank employee in the complaint

Talking about a case, the bank employee said in the email, “When the mother of a branch manager of the bank was admitted in the ICU, he earlier insisted on asking how many days the officers would return to work, only then will he be discharged. In the second case, when the mother of a branch manager died, she allegedly said, ‘Everyone’s mother dies. What is like doing in this, become practical and return to work immediately, otherwise I will put LWP (Leave Without Pay). After this, an official letter was also issued against that officer.

Another case has also been told in the email. Actually, a one -year -old daughter of a branch manager was hospitalized, so she allegedly said that you are a doctor? Why be in the hospital? Go to the office immediately, otherwise I will put LWP.

In addition, when the wife of an officer was admitted to the hospital in critical condition, the zonal head also dismissed his demand for dischargeable comments.

People angry on social media

After the screenshot of this email went viral, the anger of the users on social media erupted. Many users called it cruelty in the name of discipline.

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SBI Loan Scheme for Agniveer: State Bank of India (SBI) has launched a special individual loan scheme for the Agnivirs admitted under the short -term Agneepath Recruitment Program of the Government of India on the occasion of 79th Independence Day. SBI announced this on Thursday. Under this loan scheme, Agnivir Jawan, who holds a salary account in SBI, will be able to receive an amount of up to four lakh rupees as a loan without any guarantee. Along with this, there will not be any processing charge on it.

Special Loan Scheme for Agniveer soldiers:

The statement further stated that the repayment period will be in line with the service period of the Agneepath scheme. Apart from this, the bank is offering a minimum interest rate of 10.50 percent to all defense personnel by 30 September 2025.

SBI Chairman C.S. Shetty said, “In SBI we believe that those who are protecting our freedom are entitled to our unwavering support in their future. The initiative has been part of the long -term commitment to the welfare of India’s armed forces through the bank’s defense salary package, which has long been available to the firemen.

Agniveer’s first batch will retire in 2026

Significantly, on 14 June 2022, the Union Cabinet approved an attractive recruitment scheme to serve the armed forces for Indian youth. This scheme was named Agneepath Yojana, and the youth admitted under it are called Agniveer. In this scheme, the youth get an opportunity to serve the army for four years, after which they will retire. Thus, by the end of 2026, the first batch admitted under the Agneepath scheme will be retired.

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India Mulls for New Banks: After nearly a decade, there is a discussion between the Finance Ministry and the RBI that how to increase the banking sector so that the pace of long -term development within the country can be promoted. After this, licenses for new banks will be issued soon in India. Bloomberg has told about this in its report.

Licenses will be issued for new bank

According to the report, there is talk of taking several steps to complete the country’s ambitious development plans in the coming decades, including opening a way for more and more strong banks. In this, this option is also being considered that big companies should be allowed to apply for bank license along with ban on share holdings. Apart from this, there is a discussion on encouraging non -banking financial companies to convert to full banking service. Also, the convenience of foreign investors is being considered.

Why was there a need?

However, no comment has been received from the RBI or the Union Finance Ministry in this regard. But its reaction can be clearly seen in the market. The index of the Nifty PSU Bank which fell 0.8 percent during the initial trade, jumped up to 0.5 percent in the afternoon. This year it has increased by about eight percent.

Significantly, after the year 2014, a bank license has not been issued in the country. The report said that in the year 2016, many industrial and commercial houses had sought a license for bank permits, but now it is being considered again. However, it would be a sensitive and big decision to allow business houses to open banks.

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