Tag Archives: against

ICICI, Axis, SBI Gain, RBI To Get Power To Act Against Loan Defaulters

Shares of public and private sector lenders were witnessing good buying interest in trade today a day after the Union Cabinet empowered the Reserve Bank of India (RBI) to act against wilful defaulters. The Union Cabinet cleared an ordinance empowering the Reserve Bank of India (RBI) to act against wilful defaulters. The ordinance has been sent to the president for ... Read More »

How Banks Can Compete Against an Army of Fintech Startups

It’s been more than 25 years since Bill Gates dismissed retail banks as “dinosaurs,” but the statement may be as true today as it was then. Banking for small and medium-sized enterprises (SMEs) has been astonishingly unaffected by the rise of the Internet. To the extent that banks have digitized, they have focused on the most routine customer transactions, like ... Read More »

Rupee good run continues, gains 4 paise against dollar

The rupee’s good run continued into the 8th straight session today as it firmed up by another 4 paise in early trade to 67.33 against the dollar after the US currency saw higher selling by exporters and banks amid foreign fund inflows. Forex dealers said the weakness in the greenback against other currencies overseas and a higher opening in the ... Read More »

GCHQ asked to step up action against cyber-attack threat to financial services

More action may be needed to protect the financial services industry from a devastating cyber-attack, the head of the Treasure select committee has suggested. Andrew Tyrie MP wrote to Ciaran Martin, head of the new cybersecurity centre of UK surveillance agency GCHQ, saying the lines of responsibility and accountability for reducing cyber-threats are opaque. Tyrie’s letter to Martin, who is ... Read More »

Fed’s Tarullo warns against ‘backsliding’ on bank regulations

U.S. banking regulators must defend tough rules governing Wall Street and resist efforts to dilute regulations that might prevent a future financial crisis, Federal Reserve Governor Daniel Tarullo said on Friday. “It is critical that we not forget our still quite recent history,” Tarullo told a meeting of financial market researchers in Washington, referring to the 2008 housing bust that ... Read More »

BoE’s Carney pushes back against criticism from PM May

Bank of England Governor Mark Carney hit back at criticism from British Prime Minister Theresa May of the central bank’s low interest rates, saying on Friday that he would not “take instruction” from politicians on how to do his job. “Politicians have done a very good job of setting up the system,” Carney said. “Where it can be difficult sometimes ... Read More »

Antofagasta says will defend against regulator’s charges

Chile’s Antofagasta Minerals (ANTO.L) said on Friday it would present a defence after Chilean regulators accused the company late Thursday of mismanaging water resources and nearby plant life at its Los Pelambres copper mine. The company said there were some errors in the information that led Chilean regulators to draw up the charges but it did not elaborate on the ... Read More »

Pfizer decides against split-up; more deals seen likely

Pfizer Inc (PFE.N), which was considering splitting itself for more than two years, said on Monday it would not do so, prompting shareholders to expect more deals that could bolster its roster of new medicines. The largest U.S. drugmaker said its lengthy analysis determined that splitting off its low-growth generics from its patent-protected branded products would not boost cash flow ... Read More »

Tens of thousands protest in Europe against Atlantic free trade deals

Tens of thousands of people protested in European cities on Saturday against planned free trade deals with the United States and Canada they say would undermine democracy and lower food safety, environmental and labor standards. Organizers — an alliance of environmental groups, labor unions and opposition parties — said 320,000 people took part in rallies in seven German cities, including ... Read More »

Oil prices rise as dollar slips to 18-month low against yen

Oil prices rose on Tuesday as the dollar slipped to an 18-month low against the yen, potentially spurring fuel demand, but gains were restricted by rising Middle East output that renewed concerns of a global supply overhang. The international Brent crude benchmark LCOc1 was trading at $46.04 (31 pounds) per barrel at 0210 GMT, up 21 cents from its last ... Read More »