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The Latest Breaking News on Financial Services

Reserve Bank of Australia reports loss of $37bn and plans to cut dividends to Treasury

Central bank in negative equity after 2021-22 loss, a review of its pandemic bond-buying program has found

The Guardian - AU

Westpac to close four branches across regional WA as Bankwest reduces opening hours

Bank customers across regional WA face more branch closures and reduced opening hours as Westpac announces more closures and Bankwest moves many branches to two or four-day openings.

ABC News

Karnataka HC directs Mantri Developers to return money and discharge loan outstanding of litigants who cancelled flat bookings

Court restrains financial institution from acting against borrowers, allows it to recover outstanding from the builder

The Hindu

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RBI removes Central Bank of India from corrective action list

MUMBAI: The Reserve Bank on Tuesday said Central Bank of India has been removed from the Prompt Corrective Action Framework (PCAF) watchlist following improvement in various parameters and a written commitment that the state-owned lender will comply with the minimum capital norms.

The Times of India

Bankwest to close east coast branches

About 120 staff members are expected to be affected when Bankwest closes its remaining non-West Australian branches by the end of October.

AAP

Bank expected to unveil big rate hike on Thursday

The Monetary Policy Committee is expected to increase rates by 0.75 percentage points

Insider UK

Beirut Protesters Demand Release of Bank Heist Detainees

Protesters scuffled with Lebanese security forces Monday outside the Justice Ministry in Beirut, demanding the release of two people arrested last week during a bank heist. The clash came as a delegation from the International Monetary Fund held meetings in Beirut with officials over the country’s economic meltdown and the…

Asharq Al-Awsat

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Iran faces US in international court over asset seizure

Iran is facing off against the United States at the United Nations' highest court over Washington’s confiscation of some $2 billion in Iranian assets to compensate bombing victims

The Independent UK

Beirut protesters demand release of bank heist detainees

Protesters in Lebanon have scuffled with security forces outside the Justice Ministry in Beirut demanding the release of two detainees who were involved in a bank heist last week

The Independent UK

CBI files charge sheet against Rana Kapoor, Gautam Thapar in Yes Bank fraud

NEW DELHI: The CBI has filed a charge sheet against former chief executive and managing director of Yes Bank Rana Kapoor as well as Avantha Group promoter Gautam Thapar in the Rs 466.51 crore alleged fraud in the bank, officials said.

The Times of India

Adelaide man enlists help from former South Australian senator Nick Xenophon after losing $36,000 to scammers

Former South Australian senator Nick Xenophon is preparing legal action against one of Australia's biggest banks, alleging it failed to respond quickly enough to a scam.

ABC News

Biggest interest rate hike since 2008 crash expected in bid to control inflation

MARKETS believe the Bank of England will unveil the biggest hike in interest rates for over three decades when its decision makers gather for a…

The National (Scotland)

Worsening Living Crisis Stirs Fears of Security Chaos in Lebanon

Security fears in Lebanon are escalating amid a crippling economic crisis that has seen the salaries of army soldiers drop to $33 a month. The local currency, the Lebanese pound, has depreciated by more than 90% against the US dollar on the black market. Perhaps what exacerbated security fears is…

Asharq Al-Awsat

Biggest interest rate rise for 25 years could spell showdown at the Bank

This week’s decision could pit governor Andrew Bailey against an expansionary PM and chancellor

The Guardian - UK

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Dynamite News

Four Indian Bank officials sent to 3 years' rigorous imprisonment in Rs 30 cr loan scam

A special CBI court in Chennai has sentenced four senior Indian Bank officials and two others to three years' rigorous imprisonment with a Rs 10,000 fine each in a Rs 30 crore loan scam. Read more on Dynamite News:

The Hindu

Four former top officials of Indian Bank sentenced to imprisonment of three years

Officials from Indian Bank were convicted and sentenced to three year-rigorous imprisonment with fine of ₹10,000 each

Evening Standard

Lebanon to shut banks after string of raids by people taking out life savings

The break-ins reflect public anger at the banks’ strict controls on cash withdrawals, as a result of the financial crisis

The Times of India

Banks must ensure their systems speak to each other for better service to customers: Finance minister

MUMBAI: Finance minister Nirmala Sitharaman on Friday urged banks to ensure that their systems speak to each other so that they are able to serve customers in a better way.

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France 24

Lebanese depositors storm banks amid historic economic crisis

Lebanese depositors, including one armed with a hunting rifle, broke into at least four banks Friday to demand their trapped savings, a sign of growing chaos in the small Mediterranean nation amid a historic economic meltdown.

Reuters

Russia vows to continue Mir bankcard expansion after new U.S. sanctions

Russia's central bank on Friday pledged to keep expanding the number of countries that accept its Mir bank cards after new U.S. sanctions targeting people and entities accused of helping Moscow skirt financial sanctions.

Reuters

Bank holdups snowball in Lebanon as depositors demand their own money

Five Lebanese banks were held up by depositors seeking access to their own money frozen in the banking system on Friday, in a spiralling spate of holdups this week spurred by frustration over a financial implosion with no end in sight.

The Guardian - AU

Interest rates all but certain to rise in October but end of big hikes nearing, RBA governor says

Reserve Bank board will consider either a 25 or 50 basis point rise at next month’s meeting, Philip Lowe tells MPs

The Canberra Times

RBA urges fiscal reform

The Reserve Bank has urged the government to not use the national credit card to pay for services.

Bangkok Post

BoT to improve payment system standard

The Bank of Thailand plans to upgrade the country's payment system standard to stabilise financial services and prevent digital banking glitches.

The Times of India

State Bank opening rupee accounts for trade with Russia

State Bank of India (SBI), the country’s largest lender, is opening special rupee accounts to handle Russia-related trade settlements in the local currency but is not the main bank for such business.

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