Banks (Finance)
The Reserve Bank of India (RBI) Governor Shaktikanta Das has cautioned banks and non-banking finance companies (NBFCs) against excessive credit growth, urging them to prioritize sustainable credit expansion and robust asset-liability management. Speaking at a banking event, Das emphasized the need for banks and NBFCs to focus on their liabilities
Banks (Finance)
The Reserve Bank of India (RBI) has directed banks to set up systems and procedures to ensure the safety and security of electronic banking and payments, following a technical glitch at UCO Bank that resulted in erroneous transfers amounting to ₹820 crore. This incident has raised concerns about account safety
Banks (Finance)
Banks and housing finance companies are rolling out special discounts and offers on home loans to attract borrowers this festive season. With interest rates as low as 8.35 per cent and up to a 50 per cent discount on processing fees, it's a perfect time to consider
Banks (Finance)
Britain's economy may have avoided a devastating recession, but veteran economist Paul Mortimer-Lee, a fellow at the National Institute of Economic and Social Research, believes the system is heading for a painful crash. The principal reason, he argues, is that central banks have gone overboard with interest rate
Banks (Finance)
Nationwide Building Society has reduced its two-year fixed rate mortgage deal by 0.25 percentage points, with homeowners now able to secure a 4.99pc rate with a £999 fee. This follows a string of rate cuts from other lenders, with Royal Bank of Scotland, NatWest, HSBC, and Virgin Money
Banks (Finance)
As the official news agency of Bangladesh reports, the Bank of England is expected to keep interest rates on hold for a second successive meeting, while the Federal Reserve in the US has also left its interest rates unchanged to slow stubborn inflation without damaging the strong US economy. The
Banks (Finance)
The Bank of England held its main interest rate steady at 5.25% on Thursday, acknowledging that borrowing costs may remain elevated for a while longer. The decision was made in light of the ongoing conflict between Israel and Hamas, which has the potential to drive up oil and gas
Banks (Finance)
The Bank of England is likely to keep its interest rate steady for the second consecutive meeting, amidst ongoing high inflation and weak economic growth in the UK. The decision comes as the country grapples with a lingering cost-of-living crisis, fueled by rising oil prices due to the Israel-Hamas war.
Banks (Finance)
NatWest Group, the UK's third-largest lender, released its quarterly results on Friday, revealing a profit of £1.33 billion, a 23% increase from the same period last year. However, the bank's net interest margins (NIM) have been impacted by customers shifting their money to higher-interest savings
Banks (Finance)
The federal government has acknowledged the monumental task ahead in curbing the growth of the National Disability Insurance Scheme (NDIS) to 8% by 2026. Finance Minister Katy Gallagher noted that the NDIS scheme was projected to increase by almost 14% per year prior to the 8% growth target, and that
Banks (Finance)
Reserve Bank of India (RBI) has approved the appointment of Ashok Vaswani as CEO & MD of Kotak Mahindra Bank, succeeding Uday Kotak. The three-year appointment of Vaswani, who is presently president of Pagaya Technologies, a US-Israel fintech firm, comes as a surprise amid speculation that an internal candidate would
Banks (Finance)
The Reserve Bank of India (RBI) has flagged signs of stress in the retail loan segment, prompting the government to ask state-run banks to strengthen their loan risk assessment parameters. The government has also instructed banks to focus on acquiring high-quality current and savings accounts. As a result, banks will
