Demonetisation: Check out govt's 7-point strategy to contain currency crisis

When Prime Minister Narendra Modi on November 8 said that Rs 500 and Rs 1,000 currency notes would cease to be legal tender within a few hours of the announcement being made, the demonetisation move was lauded by some as a major assault on the flow of black money, fake currency and corruption. Even as most people rushed to get their existing currency notes exchanged, few could foretell the extent of cash crunch that would befall the common man in the days to come.

However, ever since banks and automated teller machines (ATMs) resumed exchange of old notes and withdrawal of new currency, the queues for these seem to only be growing. While some continue to laud the government for its initiative to cleanse the economy for the long-term good, many Indians have been facing immediate hardships for want of usable cash in hand.

1. Indelible ink
2. Turning to god
3. Jan Dhan accounts
4. No misuse of bank accounts
5. Task force
6. Ensuring supply of provisions
7. Crackdown on social-media rumours

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From cloning to ATM passwords, learn how to save yourself from debit card frauds

The data breach that has led to an estimated 3.2 million debit cards getting compromised is only a small manifestation of a larger malaise called cyber crime. The breach occurred due to an introduction of malware in the network of a third-party payment processor.

Living in a digital world, we need to be aware of different types of cyber frauds and take steps to safeguard our financial well-being.

Password theft: Today, people have apps on their mobiles for almost everything - buying vegetables or furniture, booking a taxi, stock trading or anything else. Given the large number of apps, many people keep the same password and e-mail id for convenience - a wrong move.

Precaution.............

Cloning: An SMS that your debit or credit card has been swiped in Amsterdam while you were sleeping in Mumbai could happen because of cloning...

Precaution.............

Vishing: A call from a bank executive that your account is under threat and he needs your CVV number to ensure safety should be ignored. No bank executive is authorised to seek your CVV numbers...

Precaution.............

Phishing: An email saying you have won $500,000 in a lottery and need to share bank account details for the transfer snared many people in the past. Now that most people ignore such mails, they use other methods, such as sending an email supposedly from the income-tax department. 

Precaution.............

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