The move is fueling fears pension funds and other longer-term...
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RBI cuts rates by 25 bps for a second time as US tariffs add to growth risks
Sanjay Malhotra, Governor, Reserve Bank of India RBI has lowered...
Global credit starts to wobble as market pain spreads
Overnight in Asia, the Markit Itraxx Asia ex-Japan index,...
World’s top banks pumped $742 bln into fossil fuels in 2021 – report
Most leading banks have pledged to reach net-zero emissions across their financing by 2050. But, despite the International Energy Agency saying no new oil and gas fields should be developed for the world to hit its climate goals, the report showed finance continues to...
Banking services to be hit partially over 2-day nation-wide strike on Monday, Tuesday
A number of public sector banks, including country's largest lender SBI, have said that their services may get impacted to a limited extent due to the strike New Delhi: Banking services may be hit partially on Monday and Tuesday as a section of bank employees' unions...
ANZ becomes first Australian bank to mint stablecoin
A stablecoin is a kind of digital asset that is devised to keep its value stable in relation to another asset, and are frequently used as a portal to other cryptocurrencies or to generate income in decentralised financial systems The company's move to mint digital...
Indian Banks share in industrial credit plunges to 34% in FY21, says report
Outstanding non-food credit growth moderated from an already low 6.1 per cent in March 2020 to 5.5 per cent in March 2021 as the pandemic shock hit the economy The share of non-banks in the commercial credit has more than doubled to 44 per cent while that of foreign...
ICICI Lombard and Airtel Payments Bank tie-up for Smartphone Insurance
With a monthly premium starting at Rs 1299, customers can get an insurance sum that is equivalent to the purchase price of their smartphone. Customers can get this insurance on their own until ten days after purchasing a smartphone priced between Rs 10,000 to Rs...
RBI Guv allays stagflation fears, says Ukraine war to have minimal impact on India
Shatikanta Das,Governor,Reserve Bank of India Firmly ruling out the prospects of the economy falling into stagflation -- a situation of prices shooting over the roof and growth plunging -- Reserve Bank Governor Shatikanta Das on Monday instead said prices are set to...
HSBC buys virtual plot of land in digital push
HDBC's venture into the virtual world comes as the British-based lender slashes its footprint in the real world, announcing on Tuesday it would cut a further 69 branches in Britain as its customers move online HSBC is the second global bank to invest in a popular...
Indian fintech payment firms have no data advantage over banks: Moody’s
According to Moody's Investors Service, the introduction of the Unified Payment Interface (UPI) in 2017, which allows funds to be transferred instantaneously, has been a key catalyst to the development of digital payments due to the ease of use of apps running on the...
DBS Bank India launches Green Deposits programme enabling institutions to support sustainable projects
The Green Deposits proposition combines all the benefits of a regular fixed deposit with a commitment from DBS to support green and sustainable loans disbursed by the bank Mumbai: In line with its focus on responsible banking, DBS Bank India has announced the launch...
Awaiting govt, RBI guidelines on SWIFT transactions with Russian entities: PNB
SBI is learnt to have issued a circular as it fears that any transaction with entities or sectors under sanction will invite sanctions on it as well. Russia is one of the biggest suppliers of defence products and equipment to India mostly under...