Category: Banking

Israeli Cryptocurrency Traders Locked Out of Banking System: Report

After being unable to deposit profits, Israeli cryptocurrency traders are looking for answers from banks and regulators. Still unfamiliar with the technology, some $86 million in unpaid taxes on cryptocurrency trade earnings have piled up as banks refuse to touch deposits writes Israeli media Haaretz. “The tax authority is aware of the problem, but they say

RBI policy: India’s central bank faces calls to do more than just one rate cut

India’s central bank is poised to deliver its fourth successive quarter-point interest rate cut on Wednesday, amid calls from investors and the government for further easing as a slowdown gripping the economy becomes more pervasive. The Reserve Bank of India will lower the benchmark repurchase rate by 25 basis points to 5.5%, according to almost all of the 36

Banks go slow on lending to auto dealers

MUMBAI: Several banks have expressed concern over a build-up of stress in their loans to automobile dealers and may tread cautiously, even slowing down on disbursements as the auto industry grapples with its worst sales slowdown in over a decade. Banking industry experts estimate the total outstanding loans to automobile dealers to be in the range of

Don’t Wall Off Innovative Tech Firms from Banking

Washington politicians may disagree on what to do at the U.S. border, but when it comes to technology firms entering banking, it seems many from both parties want to build a wall. Ironically, this virtual barrier would primarily keep out not foreign financial firms, but American non-bank innovators with new financial products that could greatly

Banking on breast milk

On 4 April, Shilpa Bharadwaj was admitted to a government hospital in Sanagneri Gate, Jaipur, as soon as she experienced the first twinge of labour pain. Later that day, she delivered a healthy boy. Twelve hours later, she died of complications. Her family, wracked with grief, had to turn its attention to the more pressing

SunTec launches solutions to help banks with digital transformation

With this approach, banks can quickly adopt new technologies, add more functionality and capabilities, offer customised products and enhance the customer experience. SunTec Business Solutions has launched in London the Xelerate Digital Core, a ‘low-risk approach for banks to accelerate digital transformation without having to replace their functionally stable legacy core systems.’ Xelerate seeks to

Grasshopper’s Judith Erwin leaps into innovation banking

In the years following the financial crisis, de novo bank activity in the US slowed to a trickle. But as memories fade, the economy expands and the potential of tech-powered financial services marches forward, entrepreneurs have once again been asking the question, “Should I start a bank?” And by bank, I’m not referring to a neobank, which sits

Bank of Baroda buys ₹3,000 crore DHFL loans

MUMBAI: Bank of Baroda (BoB) has entered into a transaction with Dewan Housing Finance Corp. Ltd (DHFL) to acquire loans worth ₹3,000 crore against its exposure to the non-bank lender, even as a lenders’ consortium to the stressed non-bank lender considers a resolution plan, two people aware of the development said. BoB acquired the pool of loans made

Syndicate Bank bets on Big Data to boost growth

Agri-loan waiver schemes to be completed by the end of FY20 Syndicate Bank is focusing on improving its information technology infrastructure in areas such as Big Data and Analytics. Replying to a query by a shareholder on the capex investment of the bank for the next two to three years at the annual general meeting