The choice by the RBI to keep the repo rate seems grounded in two crucial factors: Managing Inflation: The easing of inflationary pressures indicates a movement toward the RBI’s target range of 2-6 per cent. This implies that the existing monetary policy stance is proving effective in curbing inflation. Vigorous economic expansion: The initial six …
MUMBAI – The Reserve Bank of India has approved the appointment of Ashok Vaswani as the managing director and chief executive officer of Kotak Mahindra Bank for a period of three years from January 1, 2024. Vaswani has more than three decades of experience in the banking sector. He was Chief Executive Officer of Barclays …
Mumbai: State Bank of India, which owns nearly a fifth of the country’s outstanding banking-sector credit, is tapping the overseas markets again to raise up to $750 million through bond sales being arranged by JP Morgan, BoFA Securities, Standard Chartered Bank and HSBC, two banking industry sources told ET. The bond sale, part of the …
Switzerland-based lender UBS agreed to $1.435 billion to settle fraud charges regarding the sale of residential mortgage-backed securities (RMBS), the U.S. Justice Department said Monday. The agreement resolves the last outstanding case brought by federal prosecutors against major banks in the wake of the financial calamity, an initiative which has garnered $36 billion in settlements …