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The Latest Breaking News on Financial Services

‘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

From analysis to the latest developments in health,
read the most diverse news in one place.

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 Hindu

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

The Guardian - UK

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.

Al Jazeera

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

The Hindu

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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 Times of India

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 Hindu

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.

The Independent UK

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…

StockNews.com

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.

Zenger

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.

Al Jazeera

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Caixin Global

Rate Cuts on Existing Home Loans ‘Highly Probable,’ China Merchants Says

Bank’s Assistant President Peng Jiawen cites guidance from central bank to support homebuyers

Kiplinger

Citi Plans to Put You Into 'Relationship Tiers' Next Year

New Citi structure for retail accounts resembles travel rewards programs that offer more perks as balances increase.

The Hindu

New initiative for hiring talent from tier 2 and tier 3 towns

Chicago Sun-Times

West Side credit union launches online, teases physical branch opening

The credit union — Leaders Network Financial in partnership with Great Lakes Credit Union — is open to members of the Leaders Network. They hope to open a branch at 5600 W. Madison St. in February, with a possible interim branch before then.

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news in one place.

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Evening Standard

Barclays cuts mortgage prices again despite higher gilt yields

The bank is cutting mortgage prices for 52 products

Newsroom.co.nz

What NZ universities can learn from US banking's recent woes

When the pandemic led to a sudden drop in international enrolments, the inherent vulnerability of our universities was laid bare. Worryingly, a half are now undergoing a full-blown corporate-style reorganisation, argues Martien Lubberink

The Guardian - AU

Afternoon Update: Alan Joyce grilled at Senate inquiry; record number of Australians facing mortgage stress; and Murray cod numbers dwindle

Almost one-third of mortgage holders are at risk of mortgage stress – worse than at the height of the global financial crisis in 2008

The Hindu

Jan Dhan Yojana revolutionised financial inclusion in India, more than 50 cr bank a/cs opened: FM

Under the scheme, the number of bank accounts grew 3.4-fold from 14.72 crore in March 2015, to 50.09 crore as on August 16, 2023.

The Guardian - UK

Barclay family aim to regain Telegraph control with UAE backing – report

Family are said to have secured investment from anonymous backers based in Abu Dhabi

The Hindu

MHA clearance for credit of foreign contribution is necessary; mere registration under the FCR Act is not enough: Karnataka High Court

Mere possession of permanent registration under the Foreign Contribution (Regulation) Act, 2010, does not create a right in favour of an organisation to get the amounts, received from foreign countries, credited to their designated savings bank account, the High Court of Karnataka has said.

The Guardian - UK

Account owned by serial killer Rose West kept open by Co-op Bank

It is understood the bank thought closing the account would cause problems for West’s daughter

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