Banks (Finance)
The Reserve Bank of India has relaxed its guidelines on borrowing in call and notice money markets, allowing banks to set their own limits. This move is expected to provide greater flexibility in managing funds in a more complex liquidity environment. The weighted average call rate (WACR) is the operating
Banks (Finance)
The Reserve Bank of India (RBI) has retained the policy repo rate at 6.5 per cent, keeping the interest rates on home and auto loans unchanged for the second time running. At the end of a three-day meeting, the monetary policy committee (MPC) reiterated its intention to align retail
Banks (Finance)
Consumers using the UK's top high street banks will miss out on more than £300 this year if they stick with their current savings options, according to a recent audit by the consumer group Which?. The auditor found that customers of banks like Barclays and Lloyds Bank were
Banks (Finance)
Data from the Reserve Bank of India reveals that weighted average interest rates on new fixed deposits have risen steadily, increasing by 23 basis points in March to 6.48%. This trend has been consistent since May 2022, with rates increasing in 17 of the preceding 18 months. With cost
Banks (Finance)
The Reserve Bank of India (RBI) reversed its three-year trend of being a net buyer of US currency in the fiscal year ended March 31, 2023. The central bank sold $25.516 billion on a net basis in the spot foreign exchange market, compared to purchases of $187.054 billion
Banks (Finance)
Senior citizens and general citizens can now earn high returns on their savings with the highest interest rates on some bank Fixed Deposits reaching nearly 10% since the Reserve Bank of India (RBI) introduced the new repo rate regime last year. This provides a good opportunity for investors to book
Banks (Finance)
U.S. Senator Bob Menendez (D-N.J.) led an oversight hearing on efforts to ensure greater executive accountability and effective supervision in the wake of recent bank failures. The Senator noted that Michael Barr, Federal Reserve Vice Chair for Supervision, identified major weaknesses in Silicon Valley Bank's incentive
Banks (Finance)
Western Alliance Bancorp's report of a $2 billion deposit increase since the start of the second quarter has eased concerns about regional lenders following the collapse of Silicon Valley Bank in March. The Phoenix-based bank's stock led the surge, with other banks like PacWest Bancorp and
Banks (Finance)
The Bank of England has increased the base interest rate to 4.5% from 4.25%, as consumer prices continue to rise due to factors such as the war in Ukraine and poor harvests in Europe. The decision was made by the Bank's Monetary Policy Committee (MPC), with
Banks (Finance)
Senior citizens and individuals looking for tax-saving investments can consider fixed deposits as a viable option. Tax-saver FD qualifies for deduction under Section 80C of the Income Tax Act, as long as the investment amount is up to Rs 1.5 lakh. In recent months, many banks have hiked their
Banks (Finance)
The recent collapse of several high-profile US banks has highlighted the threat posed by "digital bank runs," which occur when social media chatter snowballs into panic over a bank's stability. Unlike traditional bank runs, which are typically orderly and occur in person, digital bank runs can
Banks (Finance)
The stock market rally suffered significant losses Tuesday, with major indexes tumbling back from near 2023 highs, despite finding some support. Bank stocks, particularly regional banks, continued to plummet, fueling fears of further failures following the collapse and sale of First Republic Bank. Energy stocks also plunged, with crude oil
