Chase all-mobile bank, Finn, rolled out nationwide in search of Millennials

Forget the teller. Bypass the local branch. Chase is rolling out its all-mobile bank, Finn, nationally, bringing together banking and spending-and-savings-related tools to smartphones. Through Finn, customers can do all of their banking from their phone, like open an account, make a deposit, or send money to friends through the Zelle digital payments More...

by Loknath Das | Published 7 months ago
By Loknath Das On Thursday, June 28th, 2018
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Swiss banking sector continues to shrink but survivors profitable

More banks turned a profit last year than in 2016 (Keystone) Switzerland lost a total of nine banks in 2017 bringing the total to 253. Around 20 years ago the country boasted more than 400 banks. According More...

By Loknath Das On Friday, April 27th, 2018
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Axis Bank board clears higher borrowing limit of Rs 2 lakh crore

Private sector Axis Bank on Friday said its board has approved a proposal to increase its borrowing limit up to Rs 2 lakh crore. The borrowings will be “apart from deposits of money accepted from public in the More...

By Loknath Das On Tuesday, April 17th, 2018
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Do we trust banks? We’re going to know soon

Australian banks look set to publicly report on how much their customers trust them, a move designed to give greater transparency to the industry’s bid to repair its battered reputation. Former auditor-general More...

By Loknath Das On Tuesday, April 17th, 2018
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Banking royal commission: AMP executive says company put profits before the law

AMP’s head of financial advice, Anthony Regan, said there were reasons to be concerned about the company’s internal culture while appearing before the banking royal commission. Photograph: AAP AMP’s head More...

By Loknath Das On Saturday, March 24th, 2018
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ED analysing 120 shell companies in PNB fraud case: Govt

The Directorate of Enforcement (ED) is analysing 120 shell companies in connection with the Punjab National Bank fraud allegedly committed by jewellery designer Nirav Modi, the government said on Friday. The state-owned More...

By Loknath Das On Tuesday, March 20th, 2018
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SBI approaches Supreme Court to challenge Anil Ambani’s Rcom asset sale halt

State Bank of India, the country’s largest lender, has approached the apex court to challenge decisions that halted the sale of assets by Anil Ambani’s indebted telecom unit, which is seeking to pare a $7 billion More...

By Loknath Das On Wednesday, February 14th, 2018
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Banks Set To Raise Lending Rates, Pre-Empting RBI, Says Report

New Delhi/Mumbai: India’s struggling economy is facing a new challenge: banks are raising interest rates even though the Reserve bank of India (RBI) is leaving its rates unchanged, as risks such as surging More...

By Loknath Das On Wednesday, February 14th, 2018
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$3.6 Billion In Hidden Bad Loans Spotlight Indian Banking Stress

SBI on Friday said an audit by the RBI showed soured debt was about Rs. 23,200 crore higher HIGHLIGHTS Audit by RBI unearthed about Rs.23,200 crore of bad loans in SBI books On Friday, SBI reported More...

By Loknath Das On Wednesday, February 14th, 2018
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RBI Announces New System To Settle Bad Loans

The RBI said that all prior schemes will be withdrawn with immediate effect HIGHLIGHTS RBI sought to push more large loan defaulters toward bankruptcy courts New rules aimed at creating harmonized, simplified More...