Tag: banks

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

After RBI delivers, the big question: Will the banks yield, too?

Significant easing of liquidity is critical for better transmission The RBI delivered on expected lines and cut its policy repo rate by 25 bps. While the central bank changing its stance from neutral to accommodative — essentially implying that rate hikes are out of the way — has further buoyed sentiments, the bigger question is whether banks

Want efficient banks? Go for more mergers, says RBI research

More consolidation in India’s struggling banking sector will help lenders lower costs and efficiently scale their operations, said researchers at the Reserve Bank of India. Labour cost efficiency, or output per employee, moderated across the sector between 2005-18, according to the recently-published paper. The authors added that state-owned banks fared better than private rivals on this metric

RBI not in favour of changing IDBI Bank’s name

The IDBI BankNSE -0.47 %’s proposal for changing its name has not found any favour from the Reserve Bank of India, sources said. The board of IDBI Bank last month proposed change in the name of the lender to either LICIDBI Bank or LIC Bank, following its takeover by Life Insurance Corporation. According to the sources, the RBI is

China banking regulators tell banks to boost support for rural economies

BEIJING: China’s banking and insurance regulators have issued a notice to commercial banks to boost financial support for the country’s rural areas. In a notice issued on March 8, the ChinaBanking and Insurance Regulatory Commission told commercial banks to fulfill special lending targets, including those for achieving faster increases in loans to farmers and other businesses in rural areas.

Banks most vulnerable to cyber threats: Govt official

The banking system needs to prepare itself to address the risks and challenges arising from cyber security and the disruptions being thrown up by technology adoptions, a top government official said. Banks also need to strengthen their software as they are the most vulnerable to cyber attacks, the official added. “We need to get prepared

Activist funds turn attention to banks as new merger wave sets up

Activist investors are turning their attention to the U.S. banking industry, which many see as ripe for a new merger wave as lenders struggle to distinguish themselves amid intensifying competition. Funds from veteran Jeffrey Ubben’s ValueAct to first-time agitators like Dallas-based Blue Lion Capital have been turning up the heat on banks over the past

Banks may face criminal charges after final royal commission report

 Kenneth Hayne lays the blame for misconduct directly at the feet of senior banking executives in the royal commission’s damning final report. Photograph: Eddie Jim/AAP Some of Australia’s biggest banks could face criminal prosecution over the shocking fee-for-no-service scandal as part of a sweeping response to the royal commission’s damning final report. The much-anticipated report

Public sector banks plan to close, rationalise 69 foreign branches

Public sector banks are in the process of closing or rationalising about 69 overseas operations in the next few months as part of their capital conservation exercise. Planned rationalisation of operations and examination of a total of 216 overseas operations of the public sector banks (PSBs) was undertaken last year, sources said. Following the review,