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it-sa India in May next year

Reported by | Updated: December 13, 2017

The first Indian edition of it-sa, the internationally-renowned IT security exhibition, will be held in Mumbai from 24-25 May 2018. Conceived of as a platform for IT security experts from India and other countries of the sub-continent, the expo and conference is based on the growing realization that the need for IT security goes hand- […]

FirstRand to acquire British bank Aldermore

Reported by | Updated: December 5, 2017

FirstRand Bank said it has agreed to buy British bank Aldermore Group. Aldermore’s board had approved such a merger. FirstRand is offering 1.1 billion pounds for the bank. The acquisition is expected to help the South African bank to expand beyond the country as its market is slowing. Aldermore is among a group of U.K. […]

Barclays stops offering Kaspersky solution

Reported by | Updated: December 5, 2017

In a major decision, Barclays Bank said it is stopping offering free Kaspersky anti-virus products to new online banking customers in the wake of the UK government warning following an official UK government warning about any Russian software product being used in highly sensitive systems in the country. The bank has sent an email to […]

Corporation Bank launches RuPay credit card

Reported by | Updated: December 5, 2017

Corporation Bank has introduced RuPay credit cards. The bank said in a press statement its RuPay credit cards will be accepted at all RuPay-enabled – around 1.5 million –  PoS terminals and 80,000 plus eCommerce merchants in India and all ICS partner acceptance points (POS, e-commerce merchants) globally. Jai Kumar Garg, MD and CEO of […]

South Indian bank does remittance using blockchain

Reported by | Updated: December 5, 2017

South Indian Bank said it has done overseas transactions using blockchain technology in partnership with a leading currency exchange house in the Gulf. The bank now is among some of the leading global banks, which have successfully carried out remittances electronically in real-ttime using blockchain. The pilot transaction was successfully executed from UAE to India. […]

Lloyds shutting 49 branches

Reported by | Updated: December 1, 2017

Lloyds Banking Group will be shutting 49 branches across Britain in 2018, which will result in some 100 job losses. The bank told its staff that the branches affected will be that of Lloyds, Halifax and Bank of Scotland branches. A spokesperson for the bank said these closures were a result of more and more […]

RBS is closing its bad bank

Reported by | Updated: December 1, 2017

RBS said it is shutting its ‘bad bank’ which it set up to take care of the toxic assets created during the financial crisis. The bank said in an internal memo that it is finally shutting the ‘non-core’ bank, after the division racked up more than 50 billion pounds of cumulative losses. The bad bank […]

Karnataka Bank project for total transformation

Reported by | Updated: December 1, 2017

Karnataka Bank has announced ‘KBL Vikas’, a project aimed at total transformation of the bank. It has tied up with the Boston Consulting Group (India) for the project, which is aimed at repositioning the bank as ‘relevant and significant bank” by focusing on technology while keeping intact its core values and identity. A statement by […]

Allahabad Bank may sell part of stake in insurance company

Reported by | Updated: December 1, 2017

Allahabad Bank is proposing to sell part of its 30% stake in Universal Sompo General Insurance Company as part of its plan to divest non-core assets. The bank’s MD and CEO Usha Ananthasubramanian said the insurance company is a performer and it may get listed on the bourses and that would be the best time […]

AU SFB to sell mutual funds

Reported by | Updated: December 1, 2017

AU Small Finance Bank has concluded agreements with 11 asset management companies – both domestic and international – to distribute their mutual funds. The bank aims to be a one-stop shop for its existing customers. Within 6 months of commencing banking operations, the bank has started cross-selling general insurance and health insurance, and now adds […]