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The Latest Breaking News on Financial Services

RBI decides to withdraw incremental CRR in phased manner

MUMBAI: The Reserve Bank on Friday decided to discontinue the Incremental Cash Reserve Ratio (I-CRR), which was put in place to absorb surplus liquidity following the withdrawal of Rs 2,000 currency notes, in a phased manner beginning Saturday. On August 10, the RBI mandated banks to maintain an incremental cash…

The Times of India

JPMorgan Chase & Co. (JPM): September Buy, Sell or Hold?

The banking industry is facing another crisis as top credit rating agencies have downgraded several banks and warned of potential downgrades for America’s largest lenders. Amid this uncertainty, let’s find out if buying, selling, or holding JPMorgan Chase (JPM) would be wise.

StockNews.com

Number of ticket scams has doubled in a year, warns Santander

The scams happen when a criminal sells someone a ticket for that is fake or does not exist.

The Independent UK

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Outgoing RBA governor Philip Lowe says tough decisions made him ‘very unpopular’

At a speech in Sydney, Philip Lowe has said some of his economic explanations ‘missed the mark’ but that media should avoid ‘clickbait’

The Guardian - AU

Bank of America (BAC) vs. The PNC Financial Services Group (PNC): Which Bank Stock Has a More Profitable Future?

The banking sector has faced numerous obstacles this year, with ongoing concerns over rating downgrades applying persistent stress on banking stocks. Amid this uncertainty, let’s delve into a comparative analysis of Bank of America Corporation (BAC) and The PNC Financial Services Group (PNC) to determine which of these two players…

StockNews.com

‘India’ in Reserve Bank’s name should be replaced with ‘Bharat’: Himanta

Assam CM Sarma calls for renaming RBI to Reserve Bank of Bharat, claims India & practices associated with British era are 'colonial hangovers'. He believes Modi ji is the one to root out these hangovers & that Sanatana Dharma has no beginning or end.

The Hindu

NatWest picks boardroom veteran Haythornthwaite to succeed under-fire chair Sir Howard Davies

Haythornthwaite will take over from Davies in April of next year

Evening Standard

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NatWest names ex-Centrica boss as chair after Farage saga

Rick Haythornthwaite, who leads boardrooms of Ocado and the AA, will succeed Howard Davies

The Guardian - UK

Monzo launches industry-first ‘call status’ tool to stall impersonation scams

The in-app feature will tell customers whether the bank is calling them or if they are being targeted by fraudsters with an attempted scam.

The Independent UK

UN ‘concerned’ by harassment of human rights defenders in Bangladesh

UN human rights chief Volker Turk calls on Dhaka to create a ‘safe’ environment for activists and civil society leaders.

Al Jazeera

Question time chaos – as it happened

This blog is now closed.

The Guardian - AU

‘India on path to become solid global player due to robust financial regulations’

India is in a sweet spot to grow robustly despite global turmoil and monsoon risks. RBI Deputy Governor M. Rajeshwar Rao inaugurated the first annual seminar on ‘Banking regulation, intermediary soundness and systemic stability’ at IIM-Kozhikode. He said credit risk management tools, especially for risk transfer or migration, are essential.…

The Hindu

Two held for forging over 2 lakh IDs like Aadhaar, PAN; police flag it as national security issue

Two persons arrested in Gujarat's Surat for forging documents like Aadhaar, PAN cards, and voter IDs. They accessed govt. database, forged two lakh identity proof documents and sold them for ₹15-200 each. Police arrested six persons, two of whom were masterminds behind the crime.

The Hindu

What are your banking options if your local branch shuts?

More than half of Britain’s bank and building society branches have disappeared from the high street in less than 20 years, the latest data shows.

The Week

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The Hindu

The transition of loans from floating to fixed rates | Explained

What has RBI said about allowing borrowers to transition from floating to fixed rates for loans? We take a look.

The Guardian - UK

Ex-Nationwide teller in London jailed for part in £130,000 bank fraud

Nathan Gilbert, of Enfield, changed the account details of customers and fraudulently issued passbooks

Al Jazeera

Ukraine tycoon Ihor Kolomoisky taken into custody over fraud allegations

Court places billionaire businessman under arrest for two months over fraud and money laundering charges.

The Hindu

ED arrests Jet Airways founder Naresh Goyal in bank fraud case

The ED has arrested Jet Airways founder Naresh Goyal in a money laundering case linked to an alleged bank fraud of ₹538 crore at the Canara Bank

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The Times of India

Tamil Nadu: Customer sues bank over deceased son’s education loan, gets Rs 55k compensation

CUDDALORE: A bank that demanded repayment Rs 21 lakh education loan from a man, even after his son’s death, has been ordered to pay Rs 55,000 as compensation for ‘deficiency of banking service.’

The Hindu

Donations at only skin bank in Karnataka nearing 200

“We are now getting requests from neighbouring Andhra Pradesh and Odisha too. While organ donation is picking up in Karnataka, awareness about the concept of skin donation is yet to catch up,” said K.T. Ramesh, Head of the Department of Plastic Surgery in Bangalore Medical College and Research Institute (BMCRI).

The Independent UK

Could you be better off by switching to another bank?

With September marking 10 years since the launch of the Current Account Switch Service, here’s what to consider when moving accounts. By Vicky Shaw.

The Independent UK

Could you be better off by switching to another bank or building society?

With September marking 10 years since the launch of the Current Account Switch Service, here’s what to consider when moving accounts. By Vicky Shaw.

StockNews.com

3 Bank Stocks Still Seeing Profits on Wall Street

After showing signs of stability following the failure of three regional banks, the U.S. banking industry faces the challenge of higher borrowing costs arising from rating downgrades by top credit rating agencies. In this scenario, it could be wise to look beyond borders and buy fundamentally strong foreign bank stocks…

Zenger

Federal Reserve Discreetly Pushes US Regional Banks For Enhanced Liquidity Planning

Regulatory scrutiny has tightened following the failures of First Republic Bank, Silicon Valley Bank and Signature Bank.

Al Jazeera

Russia is set to launch Islamic banking: All you need to know

Russia is launching Islamic banking for the first time as part of a two-year pilot programme on September 1.

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