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BIZARRE: 78 | Mind Blowing Facts

Banks cannot use muscle power to recover loan amount, says Madras High Court

If banks have to recover outstanding loan amount, the same has to be recovered in accordance with the procedure established by law. Coercive method of recovery by private agents, if appointed by banks, is not permissible. The banks certainly cannot use muscle power to recover the loan amount, the Madras…

The Hindu

1 Bank Stock to Buy Now, 2 to Cash Out

Since March, the banking sector has encountered numerous challenges, resulting in the collapse of three major banks, which has shattered investors’ sentiments. While I think fundamentally strong bank stock Hanover Bancorp (HNVR) could be worth buying, avoiding Glacier Bancorp (GBCI) and Silvergate Capital (SICP) might be wise. Keep reading.

StockNews.com

SCB X and KakaoBank eye virtual banking

SCB X Plc is teaming up with KakaoBank of South Korea to set up a consortium to apply for a virtual bank licence from the Bank of Thailand.

Bangkok Post

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Weekly Must-Read: China Grapples With Hangover From Consumer Lending Boom

The banking regulator has expanded a pilot program for disposal of nonperforming personal loans, allowing hundreds of financial institutions to offload their bad debt

Caixin Global

Protesters in Lebanon vandalise banks, demand their money back

People demand the return of their savings and call for officials involved in corruption to be held accountable.

Al Jazeera

Jim Cramer After China Rate Cut: ‘Any Stimulus Plan That Works Will Need Help From West’

CNBC “Mad Money” host Jim Cramer weighed in on the Chinese economy and offered a bleak outlook for the U.S. market

Zenger

Number of equity deals for Welsh SMEs up but their value fall

The British Business Bank has published its latest Small Business Equity Tracker

Birmingham Post

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Windrush ‘pardner hand’ saving scheme celebrated at Bank of England Museum

When people came from the Caribbean last century and were turned away by banks, many relied on communal trust

The Guardian - UK

Jeffrey Epstein paid Skidmore tuition for US Virgin Islands first family

Jeffrey Epstein paid tuition for the children of the U.S. Virgin Islands’ governor and first lady, including at New York’s Skidmore College, JPMorgan Chase & Co. said in court filings.

Tribune News Service

Clamour for arrest of accused in loan fraud at Pulpally cooperative bank grows

Vigilance officials had delayed submitting the crime report and arresting the accused in the case registered on a complaint by one Daniel and his wife, reportedly victims of the fraud, Mr. Chacko said.

The Hindu

3 Gold Stocks on the Top of Investors' Watchlist

During periods of uncertainty, gold is considered a safe-haven asset for enhanced stability and reliable returns. Therefore, fundamentally sound gold stocks Kinross Gold (KGC), B2Gold Corp (BTG), and Dundee Precious Metals (DPMLF) seem to be on the top of investors’ watchlist since they serve as a hedge against ongoing economic…

StockNews.com

South West one of two regions to see increase in equity deals according to British Business Bank

The bank's annual Small Business Equity Tracker shows 155 equity deals completed in the region last year

Birmingham Post

Canada freezes ties with AIIB after ‘communist dominance’ claims

The move over the AIIB comes amid a continued fraying of ties between Ottawa and Beijing.

Al Jazeera

Canadian quits Chinese-founded development bank, complains 'Communist Party hacks' dominate it

A Canadian public relations manager for a Chinese-founded development bank has announced his resignation in a statement that accused it of being dominated by “Communist Party hacks” and said Canada’s interests weren’t served by being a member

The Independent UK

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Bangkok Post

Central bank expects easing of loan growth

The Bank of Thailand expects loan growth in the banking industry to slow as demand eases, though rising interest rates should not be a key factor dampening loan expansion.

Chronicle Live

Northumberland County Council agree £50,000 loan to Northumberland Community Bank

The extra cash was needed to satisfy regulations

Evening Standard

What is Support for Mortgage Interest and who is eligible?

Experts have warned it might get worse before it gets better

Kiplinger

Banks Tighten Loan Criteria Following Mass Withdrawals: Kiplinger Economic Forecasts

After mass withdrawals in 2023, some small banks have enacted stricter loan criteria, and customers are looking for big returns.

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The Hindu

Did Modi Government pressurise RBI to help loan defaulters: Congress

Congress questioned the latest Reserve Bank of India (RBI) instructions to the banks allowing for “technical write-offs” for accounts categorised as wilful defaults and allowing such accounts to take fresh loans after a cooling-off period.

The Hindu

Loan app agents enticing vulnerable people with easy money, warn police

Organisers of shady loan apps are emerging as a major threat across the country as they look to target vulnerable people from poor and middle-class families by lending them large sums of money in the form of unsecured loans at high rates of interest, according to police officers

StockNews.com

3 Foreign Bank Stocks to Watch

Despite a few signs of improvement in the U.S. banking system, its stability remains a concern. Therefore, it could be wise to add fundamentally sound foreign banking stocks Deutsche Bank (DB), Erste Group (EBKDY), and Woori Financial Group (WF) to one’s watchlist. Read more….

Al Jazeera

How Emefiele, Nigeria’s powerful central bank chief lost his seat

Godwin Emefiele was second-longest-serving governor of Nigeria’s central bank and oversaw its biggest economic downturn.

Birmingham Post

International law firm DAC Beachcroft appoints Bristol office head

The firm's Bristol office at Portwall place in the home office for over 800 employees and is the largest within DACB's global network

The Hindu

Bank unions oppose RBI's decision to allow compromise settlement for wilful defaulters

Bank unions AIBOC and AIBEA opposed RBI’s move to allow lenders to settle loans of wilful defaulters under compromise settlement.

The Independent UK

52% of people with disabilities ‘negatively affected by bank branch closures’

Consumer group Which? carried out research among more than 2,700 bank customers with disabilities.

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