(Bloomberg Opinion) — UK banks want the government to abolish a key piece of post-financial crisis regulation that forces them to keep ordinary depositors’ money legally separate from their trading and investment-banking business. This uniquely British setup, known as ring-fencing, limits the kind of lending banks can do and raises their costs. Well, most lenders don’t…
Mumbai:The Reserve Bank on Monday said it has cancelled the licence of Lucknow-based HCBL Co-operative Bank as the lender does not have adequate capital and earning prospects. Consequently, the bank ceases to carry on banking business, with effect from the close of business on May 19, the Reserve Bank of India (RBI) said in a…
The government is “actively considering” a hike in India’s deposit insurance limit beyond the current â‚ą5 lakh, according to M. Nagaraju, secretary, department of financial services. This comment, made soon after the Mumbai-based New India Cooperative Bank was placed under a moratorium by the Reserve Bank of India (RBI), rakes up the issue of deposit…
Bank deposits seem to have lost their charm for the vast majority of savers, leaving banks scrambling for deposits. Indeed, finance minister Nirmala Sitharaman and Reserve Bank of India (RBI) governor Shaktikanta Das have urged banks to pull out all stops to garner more deposits. Against this backdrop, RBI deputy governor Rajeshwar Rao’s recent speech…
