Day: March 20, 2023
Bank News: Bank panic raises specter of 2008, may bring lasting change – The Economic Times
lipped from: https://economictimes.indiatimes.com/news/international/business/bank-panic-raises-specter-of-2008-may-bring-lasting-change/articleshow/98761573.cms Synopsis In the space of a week, two U.S. banks have collapsed, Credit Suisse Group AG needed a lifeline from the Swiss and
US Fed may consider a pause as SVB fallout roils markets – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/international/business/us-fed-may-consider-a-pause-as-svb-fallout-roils-markets/articleshow/98781289.cms Synopsis Fed chief Jerome Powell likely to face questions this week around central bank’s supervision of SVB and other struggling entities. Federal Reserve officials
GST dept to scrutinise I-T, MCA data to identify entities not paying taxes – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/gst-dept-to-scrutinise-i-t-mca-data-to-identify-entities-not-paying-taxes/articleshow/98780285.cms Synopsis Currently, there are 1.38 crore registered businesses and professionals under the Goods and Services Tax (GST), which was launched on July 1,
Meta launches paid verification for Facebook and Instagram – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/info-tech/social-media/meta-launches-paid-subscriptions-for-instagram-facebook-in-the-us/article66637941.ece Meta Verified on Instagram and Facebook is priced at $14.99 on mobile. Meta CEO Mark Zuckerberg announced the rollout of the company’s Meta
Mid-size US banks ask government to protect all deposits: report – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/mid-size-us-banks-ask-government-to-protect-all-deposits-report/article66638150.ece The Mid-Size Bank Coalition of America said the move would halt the exodus of deposits from smaller banks, stabilise the banking sector and
Russian oil imports to India to hit a plateau – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/russian-oil-imports-to-india-to-hit-a-plateau/article66638543.ece Spare Russian capacity, earlier marked for European Union, is almost exhausted, say analysts There is not much extra crude export capacity available to
Modernising insurance fraud detection tools – The Hindu BusinessLine
lipped from: https://www.thehindubusinessline.com/opinion/modernising-insurance-fraud-detection-tools/article66639343.ece Staying informed on the latest developments is critical for detecting new fraud trends An effective way to counter fraud is through effective data
Global central banks open daily dollar taps to help banks – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/global-central-banks-open-daily-dollar-taps-to-help-banks/article66639961.ece The coordinated move, reminiscent of the global financial crisis of more than a decade ago, will see the Federal Reserve and the central
UBS to buy Credit Suisse for $3.2 billion to rein in turmoil – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/ubs-to-buy-for-32-billion-to-rein-in-turmoil/article66639964.ece The Swiss Federal Council, a seven-member governing body, passed an emergency ordinance allowing the merger with UBS without shareholders’ approval. Federal Councillor and
Kotak Mahindra Bank mulls hiving Kotak 811 as subsidiary – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/kotak-mahindra-bank-mulls-hiving-kotak-811-as-subsidiary/article66639039.ece Jay Kotak likely to head the payments arm If spun off into a subsidiary, the digital platform can have its own funding sources
Top 10 most valued firms post Rs 2.09-trn loss in market capitalisation | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/top-10-most-valued-firms-post-rs-2-09-trn-loss-in-market-capitalisation-123031900307_1.html Corporate major Reliance Industries’ m-cap plunged Rs 67,722.33 crore to Rs 15,04,001.93 crore Market capitalisation (m-cap) of the top-10 most valued companies eroded by over Rs
Leadership position | Business Standard Editorials
Clipped from: https://www.business-standard.com/article/opinion/leadership-position-123031900898_1.html Large IT firms are witnessing changes at the top A surprise change of the guard at Tata Consultancy Services (TCS) is unlikely to affect continuity
HDFC twins’ merger: RBI may take call on relaxations closer to date | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/clarity-on-dispensation-likely-closer-to-hdfc-hdfc-bank-merger-date-123031900587_1.html The Reserve Bank of India (RBI) is likely to take a call on the relaxations sought by HDFC Bank in relation to the merger, as
US banking crisis: Key interest rates suggest RBI may go slow on tightening | Business Standard News
lipped from: https://www.business-standard.com/article/finance/amid-us-banking-turmoil-indian-swaps-point-to-less-aggressive-rbi-123031900673_1.html The fall in OIS rates mirrored a decline in the 10-year US bond yield, which plunged close to 40 bps after the collapse
UBS agrees to buy Credit Suisse for more than $2 billion: Report | Business Standard News
Clipped from: https://www.business-standard.com/article/international/ubs-offers-to-buy-credit-suisse-for-up-to-1-billion-says-report-123031900644_1.html UBS had earlier tabled an offer of about $1 billion, or 0.25 francs a share for Credit Suisse, which the firm had pushed
Lesson for India from the Silicon Valley Bank collapse | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/lesson-for-india-from-silicon-valley-bank-collapse-123031900499_1.html The rules of the games are not the same on the US and Indian banking turfs but if risks are mispriced, the fallout