Banks general
RBI to launch Unified Lending Interface to smoothen credit flow
26 Aug 2024
Reserve Bank of India (RBI) is expanding the digital banking infrastructure with Unified Lending Interface (ULI), a platform that will facilitate frictionless credit flow.
SBI hikes MCLR-linked lending rates by 0.10%
18 Aug 2024
State Bank of India (SBI), the country’s largest public sector lender, has increased its Marginal Cost of Funds Based Lending Rate (MCLR) by 0.10 percentage points, beginning 15 August
SBI to raise $3 billion in overseas debt
17 Jun 2024
State Bank of India (SBI), the country’s largest lender, plans to raise around $3 billion in overseas debt in the current financial year, to finance its lending programme.
RBI keeps policy repo rate unchanged at 6.5% for the eighth time in a row
07 Jun 2024
The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) at its meeting on Friday decided to keep the policy repo rate unchanged at 6.50 per cent, for the eighth time in a row.
RBI lifts ban on Bank of Baroda onboarding customers in its mobile app
09 May 2024
Reserve Bank of India (RBI) has reviewed its 10 October 2023 decision to suspend onboarding of customers by Bank of Baroda’s mobile application `BoB World’
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.
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RBI keeps repo rate unchanged as focus remains on inflation
05 Apr 2024
The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) at its meeting on Friday (5 April 2024) decided to keep the policy repo rate under the liquidity adjustment facility (LAF)
SWIFT to launch new platform for central bank digital currencies
27 Mar 2024
Global bank networking system SWIFT will be building a new platform for digital currencies issued by central banks, over the next two years.
NCLAT upholds Jalan-Kalrock Consortium’s resolution plan for Jet Airways
14 Mar 2024
The National Company Law Appellate Tribunal (NCLAT) has upheld the debt resolution plan for bankrupt Jet Airways submitted by the Jalan-Kalrock Consortium (JKC)
Bank employees to get 17% wage hike, follow 5-day work week
09 Mar 2024
Employee unions of public sector banks and the Indian Banks' Association, the joint forum of stat-run banks, have reached an agreement under which employees will get a 17 per cent
Federal Bank’s Q3 net profit up 25% at Rs1,007 crore
18 Jan 2024
Private sector lender Federal Bank has reported a 25 per cent year-on-year increase in its fiscal third quarter (October-December 2023-24) at Rs1,007 crore, against Rs803.6 crore
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Citigroup plans to cut 20,000 jobs globally by 2026
15 Jan 2024
US banking and financial services giant Citigroup is planning to lay off 20,000 of its workforce - roughly 8 per cent of its 239,000 global headcount by 2026, as part of a mega restructuring.
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Goldman Sachs predicts early policy easing by banks in India and Australia following the Federal Reserve's lead
18 Dec 2023
In a surprising turn of events, central banks across the Asia-Pacific region, from India to Australia, are poised to initiate interest rate cuts earlier than initially projected, influenced by the Federal Reserve’s hastened easing cycle, as suggested by Goldman Sachs Group Inc.
JPMorgan Chase plans to outsource local custody business in Hong Kong and Taiwan
12 Dec 2023
JPMorgan Chase, the world’s third-largest global custodian, is set to outsource the operations of its local custody business in Hong Kong and Taiwan.
RBI MPC maintains 6.5% repo rate, raises FY24 GDP forecast to 7%
08 Dec 2023
In its bi-annual policy announcement, the Reserve Bank of India’s Monetary Policy Committee (RBI MPC) opted to keep the repo rate unchanged at 6.5%, marking the fifth consecutive decision to maintain the status quo.
Citigroup CFO reveals $1 billion cost for massive restructuring
07 Dec 2023
Mark Mason, Chief Financial Officer of Citigroup, disclosed that the bank’s extensive restructuring is expected to incur charges of approximately $1 billion for restructuring and severance.
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Tech giant Apple set to break ties with Goldman Sachs for credit card business
29 Nov 2023
Apple has decided to terminate its credit card partnership with banking giant Goldman Sachs. Apple had sent a proposal to the Wall Street Bank to end the contract in the next 12 to 15 months.
Barclays plans $1.25 billion in cost savings, considering layoffs for up to 2,000 jobs
24 Nov 2023
Barclays, one of the leading British banks, is reportedly exploring strategies to save as much as £1 billion, with the possibility of cutting up to 2,000 jobs, particularly in the bank's back-office operations.
RBI Governor Das: Increased risk weight is a precautionary approach to ensuring sustainable lending
23 Nov 2023
Reserve Bank of India (RBI) Governor Shaktikanta Das said that the recent instruction to increase risk weights for unsecured consumer loans by banks and non-banking financial companies (NBFC) is a cautious measure taken to ensure sustainable lending.
RBI hikes risk margin for consumer lending by banks, NBFCs
16 Nov 2023
Reserve Bank of India (RBI) has raised the risk weights in respect of consumer credit exposure of commercial banks, including personal loans, by 25 percentage points to 125 per cent
Greek government sells 20% stake in National Bank
13 Nov 2023
The Greek government on Tuesday announced the sale of a 20 per cent stake in National Bank of Greece (NBG).
A major ransomware attack targets China's largest lender, ICBC
10 Nov 2023
In a major cybersecurity incident, the U.S. arm of the Industrial and Commercial Bank of China (ICBC) fell victim to a ransomware attack, disrupting trade in the U.S. Treasury on Thursday, 9 November 2023.
A major ransomware attack targets China's largest lender, ICBC
10 Nov 2023
In a major cybersecurity incident, the U.S. arm of the Industrial and Commercial Bank of China (ICBC) fell victim to a ransomware attack, disrupting trade in the U.S. Treasury on Thursday, 9 November 2023.
Citigroup considers significant job cuts in its ongoing CEO-backed restructuring
07 Nov 2023
Citigroup's top management, working under CEO Jane Fraser's reorganization initiative, has reportedly contemplated job cuts of at least 10% in key business segments.
Goldman Sachs announces promotion of 608 new managing directors, a decrease from 2021 numbers
03 Nov 2023
In a recent development, Goldman Sachs, the renowned Wall Street firm, announced its plan to promote 608 executives to the position of managing director in 2023.
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India’s Millet Revolution To Enrich Global Food Basket
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Market predator Hindenburg preys on Adani stock
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Almost a month after the damning report of short-seller Hindenburg Research on the Adani Group that claimed that the seven stocks within the group were about 85 per cent overvalued, one of the group's stocks, Adani Total Gas, closed at Rs835 on the BSE, down nearly 79 per cent from its 24 January level, almost close to reaching that valuation
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