All posts by banking

UCO Bank plans to open accounts for more Iranian banks

Reported by | Updated: January 14, 2014

UCO Bank is planning to open accounts of more Iranian banks to facilitate bilateral trade payments between the two countries. The bank has already opened accounts for six Iranian banks. Four more have approached the bank and it has sought the RBI’s approval for opening their accounts and finallay it will have accounts of 10 […]

Raghuram Rajan is ‘Governor of the Year’

Reported by | Updated: January 13, 2014

RBI governor Raghuram Rajan has been named ‘Governor of the Year’ in the Central Banking Awards for 2015. Rajan responded saying this is a recognition of the part the Reserve Bank of India and its staff have been playing in bringing macroeconomic stability to the Indian economy, in creating more competition and new growth opportunities […]

Basel Committee liberalizes norm

Reported by | Updated: January 13, 2014

Banking regulators have agreed to go liberal on a new rule that was meant to contain risky balance sheets starting in 2018. The measure was an effort to avoid tightening financing for the world’s economy. The Basel Committee for Banking Supervision took the decision which is indicative of the willingness to accommodate banks as the […]

Japanese bank acquires state in Bank of Ayudhya

Reported by | Updated: January 13, 2014

The Bank of Tokyo-Mitsubishi UFJ said has acquired a 72.01% stake in Bank of Ayudhya of Thailand for 536 billion yen (167.9 billion baht) and turned the bank into a subsidiary to expand its operations in the country and other Southeast Asian economies. After integrating the Japanese bank’s local outlets with Bank of Ayudhya within […]

RBS may have to pay $10 bn to settle cases in US

Reported by | Updated: January 13, 2014

Royal Bank of Scotland will be required to pay $10 billion to settle lawsuits in the US over its role in selling the complex investments that helped cause the credit crunch. US regulators are thought to be targeting a number of banks, including state-backed RBS and Barclays, for selling toxic bonds or investments backed by […]

RBS to sell US biz to US Bancorp

Reported by | Updated: January 13, 2014

Royal Bank of Scotland announced a sale of its Chicago-based branches to U.S. Bancorp, as the U.K. bank prepares its U.S. retail franchise for an initial public offering later this year. RBS said it would sell 94 branches that operate under its Charter One brand for an undisclosed fee. The Charter One branches had $5.3 […]

South Korea wants to open more banks India

Reported by | Updated: January 13, 2014

South Korea will ask India to help its banks open branches in India when the finance ministers of the two countries meet this week to discuss cooperation in trade, taxation, banking, fiscal affairs and infrastructure development, among others. The fourth finance ministerial meeting, to be held in New Delhi, will have finance minister P Chidambaram […]

Nomura to buy ING unit in Taiwan

Reported by | Updated: January 13, 2014

Nomura Holdings will buy ING Groep’s Taiwanese investment unit, becoming the first Japanese asset manager to operate in the market. Nomura Asset Management Co. agreed to buy ING Securities Investment & Trust Co. with a group led by the Taiwanese firm’s former chief executive officer Ashwin Mehta, Japan’s biggest brokerage said in a statement. It […]

RBI, BoJ sign agreement

Reported by | Updated: January 11, 2014

Reserve Bank of India and Bank of Japan have concluded an agreement that expands the maximum amount of the Bilateral Swap Arrangement (BSA) between Japan and India to $50 billion. With this agreement, the current BSA, effective for 3 years from 2012 to 2015, is expanded from the original size of $15 billion, the RBI […]

Sabbatical for women staffers at SBI

Reported by | Updated: January 11, 2014

Women employees of State Bank of India can now take two-year sabbatical leave from work for purposes like children’s education. The bank is likely to extend this facility to single male parents as well. The chairman of the bank, Arundhati Bhattacharya, said the bank has brought in a two-year sabbatical for its women staff in […]

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