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
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
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.
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 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
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 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,