THE TRUTH ABOUT: 14 - Caught on Camera

The Week Ahead (Sept. 14-20): Federal Reserve Prepares for Critical Interest Rate Decision

Bank of Japan meets to weigh a potential rate hike, China expands its cross-border fund pooling pilot nationwide

Caixin Global · Sep 11

SBI developing solution to use UPI data for checking creditworthiness of small biz

State Bank of India is developing a UPI data solution for small businesses. This initiative aims to assess creditworthiness without requiring GST registration for these entities. The bank expects to provide digital loans within a single day for eligible borrowers. This new approach will help bring more businesses into the…

The Economic Times · Sep 11

Bank of India mobilises $2.33 billion via FCNR(B), enough to meet one-quarter lending needs: CEO

Bank of India secured USD 2.33 billion through FCNR(B) deposits, replacing bulk funding sources. This mobilization will meet approximately three months of the bank's lending requirements. The Reserve Bank of India announced this special deposit scheme to strengthen liquidity positions. Banks are diversifying their deposit bases amid increasing credit demand…

The Economic Times · Sep 11

ATM Ripped From British Bank Wall as Thieves Use Forklift in Brazen Night-Time Raid Before Fleeing

Police are investigating after suspects used a stolen telehandler and two other vehicles to remove an ATM from a Nationwide branch in Ramsey, Cambridgeshire, on 16 June.

International Business Times UK · Sep 11

BRICS can boost local-currency trade with deeper financial markets, stronger banking links: Experts

BRICS nations can boost trade and investment by deepening financial markets. Experts suggest using local currencies more often for transactions. Linking payment platforms and exploring CBDCs will speed up cross-border payments. Reducing non-tariff barriers will also enhance intra-BRICS trade significantly. Greater trust and business partnerships are key for future economic…

The Economic Times · Sep 11

Selling insurance but not handling customer grievances: IRDAI fines IndusInd Bank Rs 1 crore; here's what policyholders should know

IndusInd Bank faces a Rs 1 crore penalty from IRDAI for failing to provide an adequate, insurance-specific grievance redressal mechanism for policyholders. Despite claims of an overall system, the regulator found a lack of dedicated channels and inadequate information, highlighting a crucial distinction between banking and insurance customer service.

The Economic Times · Sep 11

Is there any point to bank loyalty? Signs you should switch accounts and why it may pay to stay

Switch or stick – are you missing out on easy money?

The Independent UK · Sep 11

₹1 crore penalty on Canara HSBC Life Insurance Company over mis-selling of a deferred annuity policy to an 88-year-old senior citizen

An 88-year-old was sold a deferred annuity policy despite age restrictions, leading to a Rs 1 crore penalty for Canara HSBC Life. IRDAI found multiple lapses in sales, underwriting, and disclosure. The regulator's order highlights crucial lessons for senior citizens buying long-term insurance products, especially via bank branches.

The Economic Times · Sep 11

HDFC Bank shares fall 2% to fresh 52-week low despite victory in Credit Suisse AT1 bonds cases in Bahrain

HDFC Bank shares fell despite the rejection of all seven Bahrain cases linked to Credit Suisse AT1 bonds. The stock remains under pressure amid governance concerns, recent losses and investor focus on earnings, while brokerages maintain positive views.

The Economic Times · Sep 11

SBI's 80 paise masterstroke: How NSE IPO could deliver Rs 2,850 crore jackpot and 2,23,025% return

SBI is set to potentially book a massive profit from the NSE IPO by selling up to 1.60 crore shares acquired at a weighted-average cost of just 80 paise each. At the upper price band of Rs 1,785, the stake sale could fetch around Rs 2,850 crore, implying a staggering…

The Economic Times · Sep 11