Page 3 Banking: Latest Banking News, Updates & Tips At Goodreturns

SC Order On Banking Fraud: "RBI" To Shortly Issue New Guidelines

The Reserve Bank will 'shortly' come out with revised guidelines on fraudulent account classification to take into account the recent apex court order that asked lenders to ensure natural justice to a defaulter before labelling him a fraudster. "The SC has ...

'RBI' Permits Banking Units At IFSC To Settle NDDCs In Rupee

The Reserve Bank on Tuesday permitted international banking units (IBUs) in GIFT City in Gujarat to settle non-deliverable foreign exchange derivative contracts (NDDCs) in Indian rupee. So far, derivatives are cash-settled in foreign currency. As per the notification, Authorised Dealer (AD) ...

Fed Raises Key Rate But Hints It May Pause Amid 'Bank' Turmoil

The Federal Reserve reinforced its fight against high inflation Wednesday by raising its key interest rate by a quarter-point to the highest level in 16 years. But the Fed also signalled that it may now pause its streak of 10 rate ...

Large 'Corporates' Will Never Be Allowed To Open A Bank In India: N Vaghul

Large corporates will never be allowed to open a bank in India, veteran banker N Vaghul has said. Vaghul said India has learnt from its pre-bank nationalisation experience and will never repeat the same mistakes by allowing large corporations into banking. ...

Swiss Lawmakers Pick Apart 'Credit Suisse' Woes Ahead Of Deal

Switzerland's parliament is opening a special session Tuesday to scrutinise the state-imposed takeover of Swiss bank Credit Suisse by rival UBS - and possibly considering strengthening the legal arsenal to better gird against financial blowups. The debate could run up to ...

Global Banking System Headed For More Turmoil: Former RBI Governor Raghuram Rajan

Raghuram Rajan - the former International Monetary Fund chief economist who predicted the global financial crisis more than a decade ago - warned that the banking system is headed for more turmoil after the rescues of Silicon Valley Bank and Credit ...

Global Stocks Rally, US Treasury Yields Rise As Banking Fear Eases

Global stocks and U.S. bond yields rose on Tuesday, as a U.S. regulator-backed deal by First Citizens BancShares to buy failed Silicon Valley Bank soothed wider worries about problems in the sector, according to a Reuters report. MSCI's broadest index ...

'Bank' Failures And Rescue Test Yellen's Decades Of Experience

Working against the clock to stop a developing banking crisis, Treasury Secretary Janet Yellen had until sunset on Sunday, March 12, to come up with a plan to calm the US economy. She quickly turned to someone who had been through ...

Banking Giant UBS Is Acquiring Smaller Rival 'Credit Suisse'

Banking giant UBS is buying its smaller rival Credit Suisse in an effort to avoid further market-shaking turmoil in global banking, Swiss President Alain Berset announced on Sunday night. Swiss president Alain Berset, who did not specify a value of the ...

Government Invites Application For RBI Deputy Governor Post

The finance ministry has initiated the process to appoint a new Reserve Bank deputy governor in place of MK Jain, whose extended term is coming to an end in June. The applicant should have an experience of 15 years in banking ...

Washington Turns To Wall Street To Help 'Rescue Dying Bank'

The scene was reminiscent of the last financial crisis, nearly 15 years ago: Faced with a blossoming emergency in the banking sector, worried regulators and policymakers in Washington turned to Wall Street for help. The anxiety this week centred on First ...

Trouble In 'Credit Suisse' Unlikely To Impact India's Banking System: Experts

India's banking system is expected to remain unscathed from the troubles in Credit Suisse as it has a very small presence in the country, experts said. Although Credit Suisse is more relevant to India's financial system than Silicon Valley Bank (SVB), ...