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Banks & institutions
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And now, BRICS eyes creation of a central bank for currency issue
06 May 2024
China, with backing from Russia and South Africa, is planning an onslaught on the mighty dollar by introducing a new currency, to be issued by a proposed BRICS central bank that would combine the strengths of the respective currencies of the five countries in the economic forum.
RBI asks lenders to be fair and transparent in dealing with borrowers
30 Apr 2024
Reserve Bank of India (RBI) has asked lenders to be transparent in their dealings with borrowers and show fairness while charging interest on loans, even as they enjoy complete freedom in the pricing of loans.
Aditya Birla Capital to merge subsidiary Aditya Birla Finance
12 Mar 2024
The boards of directors of Aditya Birla Capital Ltd and its wholly-owned subsidiary, Aditya Birla Finance, have approved a scheme of amalgamation of the two companies to create a larger non-banking finance company (NBFC).
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RBI directs Paytm Payments Bank to stop onboarding new customers
01 Feb 2024
Reserve Bank of India (RBI) on Wednesday directed Paytm Payments Bank Ltd (PPBL) to stop onboarding of new customers with immediate effect, for failure to comply with audit rules.
Sitharaman asks banks to review practices to improve performance
01 Jan 2024
Finance minister Nirmala Sitaraman has asked public sector banks to focus on healthy lending practices, so as to prevent bank frauds and wilful defaults, especially by corporate borrowers.
PNB plans to raise Rs7,500 crore via QIP or FPO
31 Dec 2023
The board of directors of Punjab National Bank (PNB) at its meeting on Thursday approved a proposal to raise Rs7,500 crore capital through equity issue
SBI, Bank of Baroda raise term deposit rates
31 Dec 2023
Public sector lenders State Bank of India (SBI) and Bank of Baroda (BoB) have announced a hike in interest rates on fixed deposits varying from 50 to 125 basis points
RBI directs banks to stop charging penal interest
31 Dec 2023
Reserve Bank of India (RBI) has directed banks to stop charging penal interest rates on delayed loan repayments
RBC gets govt nod for $10 bn acquisition of HSBC Canada
23 Dec 2023
The Canadian government on Thursday granted approval for Royal Bank of Canada’s C$13.50 billion ($10.20 billion) acquisition of the Canadian assets of HSBC (HSBC Canada)
RBI cautions banks, NBFCs on exposure to alternative investment funds
22 Dec 2023
Reserve Bank of India (RBI) has directed all regulated entities (REs), including commercial banks, co-operative banks and all-India financial institutions
Barclays puts profit ahead of customers: review
04 Apr 2013
Bonuses return with a vengeance on Wall Street
24 Feb 2010
Pakistan secures $7.6 billion lifeline from IMF
25 Nov 2008
Pakistan has obtained a $7.6 billion lifeline from the International Monetary Fund, which will prevent the country from defaulting on debt. Pakistan's foreign-exchange reserves have shrunk 75 per cent in 12 months, to $3.45 billion.
M-banking to expand 10-fold in four years: Juniper Research
18 Apr 2008
New research predicts a 10-fold growth in mobile banking in four years, with the fastest growth coming from emerging markets
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