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11 mins read
Big banks promised to protect the planet. Now they're doing an about-face.
Big banks and asset managers are a powerful force in fighting the climate crisis, but many of them …
Catherine Boudreau
2 mins read
India needs to create 148 million additional jobs by 2030 given population growth, says IMF DMD Gopinath
Given the scale of what is needed, it is going to require basic reforms including land reforms and …
PTI
2 mins read
Risk-based premium for deposit insurance merits consideration: RBI Deputy Governor Swaminathan
Speaking at a conference in Jaipur, Swaminathan also said that as the financial sector becomes more…
PTI
1 min read
Global cyber outage: Banks, payments systems unaffected by Microsoft outage
HDFC Bank, the biggest among the private sector lenders, also said that it has not faced any impact…
PTI
1 min read
Some Fed officials saw a case to cut rates in July, minutes show
Several Fed officials saw a case to cut interest rates in July, according to the FOMC minutes relea…
Filip De Mott
2 mins read
A Nevada official was found guilty of using $70K meant for a statue of a slain police officer for plastic surgery, her daughter's wedding, and rent
A jury found Michele Fiore guilty of misusing over $70,000 meant for a statue honoring a slain cop,…
Joshua Nelken-Zitser
1 min read
China officials are reportedly pushing banks to rush loans to cash-strapped real estate developers
Cash-strapped property developers may be getting a lifeline from banks as they approve loans faster…
Phil Rosen
4 mins read
RBI likely to keep interest rate unchanged at 6.5%, say experts
Reserve Bank of India (RBI) is likely to keep the key interest unchanged at 6.5% on Thursday, and w…
PTI
2 mins read
Customers at several small-sized banks affected as tech provider C-Edge suffers ransomware attack
The issues are being faced for the last two days after the discovery of a breach of the system…
PTI
3 mins read
FIU imposes over Rs 1.66 crore fine on Axis Bank for failing to detect fraud NSG account
The Financial Intelligence Unit has slapped a fine of more than Rs 1.66 crore on Axis Bank for "fai…
PTI
1 min read
The Fed is 'getting closer' to cutting interest rates, top official says
Several official from the Fed seem confident that, with more data on steadily decreasing inflation,…
Kelly Cloonan
2 mins read
RBI mandates banks to set up committees for inspection of fraud cases after the SC ruling
As per the revised directions of Reserve Bank of India (RBI), the lenders have to issue a detailed …
ANI
1 min read
Why the Fed won't cut rates until December, according to Bank of America
"We think the Fed can be patient," Bank of America economists wrote in new research.
Kelly Cloonan
2 mins read
Jio Financials gets RBI nod to become Core Investment Company
Jio Financial Services has received the nod from the Reserve Bank of India (RBI) to convert into a …
ANI
2 mins read
Jammu and Kashmir's maiden human milk bank to be ready in Jammu's govt hospital by year-end
The first ever Comprehensive Lactation Management Centre (CLMC), commonly known as human milk bank,…
PTI
2 mins read
Strong growth, lower fiscal deficit may lead to India rating upgrade: Deutsche Bank
Strong growth and a narrower fiscal deficit can lead to a sovereign rating upgrade for India, a Ger…
PTI
3 mins read
A top New York official was paid off by China with salted ducks, a job for her cousin, and millions to her husband's business: DOJ
Linda Sun, 40, was charged on Tuesday with 10 criminal counts, with prosecutors saying she blocked …
Matthew Loh
4 mins read
After AAP, ED attaches land, bank deposits of CPI(M); says party holding proceeds of money laundering
Official sources said the party may be named as an accused in the next supplementary chargesheet to…
PTI
2 mins read
Financial flows to Russia are drying up as global banks fear losing access to the US dollar, Treasury official says
"They started requesting meetings with us to say, 'What can we do to make sure that we keep access …
Filip De Mott
3 mins read
DHFL scam, simplified: Here’s all about the Dheeraj Wadhawan case — allegedly India’s biggest banking loan fraud ever
The CBI also explains that the Wadhawans had allegedly created lakhs of fake borrowers by randomly …