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The Latest Breaking News on Financial Services

Subsidiaries offer cheaper rates than big bank parents

Big banks are attracting new customers via their subsidiaries and digital offshoots while customers with their main brands keep their margins healthy.

AAP

Nationwide faces mounting calls to give members say on Virgin Money takeover

Experts question if ‘bigger is better’ and whether members should be consulted on the £2.9bn deal

The Guardian - UK

ED attaches immovable assets of a hotel worth ₹44 crores under money laundering case

The Enforcement Directorate (ED), Mumbai, has provisionally attached immovable properties consisting of Hotel One Continent at King Koti Road, Sultan Bajaar, Abids, Hyderabad, to the extent of ₹43.84 crore under the provisions of Prevention of Money Laundering Act (PMLA), 2002, in loan fraud case of the Punjab and Maharashtra Cooperative…

The Hindu

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Watch | Electoral bonds: Who were the biggest donors?

Overall, donors acquired electoral bonds worth over ₹12,155 crores during this period, with political parties encashing over ₹12,769 crores in the same duration

The Hindu

"Na khaunga, na khane dunga'": Kipal Sibal takes dig at PM over electoral bonds data

Rajya Sabha MP Kapil Sibal Friday launched a veiled attack on Prime Minister Narendra Modi a day after the Election Commission published the electoral bonds data shared by the State Bank of India on the orders of the Supreme Court. Read further on Dynamite News:

Dynamite News

Making sense of the electoral bonds data

Electoral Bonds data: Supreme Court seeks SBI response on electoral bonds disclosure; largest donor revealed in data released by ECI.

The Hindu

Lawmaker Says Fed Pursuing CBDC Despite Publicly Stating Otherwise

The Federal Reserve may be pursuing a CBDC even if it recently reassured a Senate committee that it was far from recommending a digital currency, according to a list of the Fed's priorities that was publicized by a Republican House representative.

International Business Times

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SBI tells SC it has complied with its direction to provide Electoral Bonds data to ECI

The Chairman of SBI has filed an affidavit in the Supreme Court apprising that in compliance with the top court's order, date of purchase of each Electoral Bond, the name of the purchaser and the denomination of the Electoral Bond purchased has been furnished to the Election Commission of India.…

Dynamite News

Metro Bank increases job cuts to 1,000 and ends seven-day branch model

Lender nearly triples size of cost-cutting plan to £80m after autumn rescue deal

The Guardian - UK

Who is Muhammad Aurangzeb, the man tasked with fixing Pakistan’s economy?

A veteran banker, Aurangzeb is a political outsider who analysts say must grapple with IMF reforms and crippling debt.

Al Jazeera

IDBI Bank seeks CBI probe in ₹5 crore delivered to wrong premises incident in Mangaluru

According to I-T officials, bank officials also could not establish through documents the purpose for which the cash had been withdrawn from the vault.

The Hindu

'No care factor' as banks abandon remote communities

Business owners are having to fly with bags of cash to city banks after a remote branch closed its doors, amid reports of robberies, scams and elder abuse.

AAP

Pakistan PM Appoints Cabinet Tasked With Ending Economic Crisis

Pakistan's 19 new ministers took their oath of office Monday, after an election marred by allegations of vote rigging.

International Business Times

Names and bonds: On electoral bonds scheme, the Supreme Court, and the State Bank of India

In rejecting the State Bank of India’s application for time in data on the electoral bonds scheme, the Supreme Court has sent a message that it will not brook any further delay

The Hindu

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The Hindu

Why did the Supreme Court reject SBI’s plea seeking extension of time to disclose electoral bonds data? | Explained

Two NGOs have moved the Supreme Court against SBI for not complying with the Court’s deadline to furnish details about purchased electoral bonds. We explore why SBI has sought time and what the petition seeks.

Evening Standard

'Are we missing something?' - Shock as Halifax becomes fourth lender to up mortgage rates today

“Are we missing something here?” one adviser asked of the flurry of mortgage rate rises

Newslaundry

SC dismisses SBI plea seeking extension of electoral bonds deadline

The Supreme Court has dismissed the State Bank of India’s petition seeking an extension of the deadline to publish information about donations made through electoral bonds. The court has told SBI to disclose the details by Tuesday, and for the Election Commission to publish the data by March 15, according…

The Hindu

Electoral bonds | Supreme Court nixes SBI plea for more time to provide details

Electoral bonds case: Supreme Court hears SBI's request for extension to disclose electoral bond details, facing contempt allegations.

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news in one place.

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The Hindu

Supreme Court’s responsibility to protect its dignity: Kapil Sibal on SBI plea on electoral bonds issue

Rajya Sabha MP Kapil Sibal criticizes SBI's delay in revealing electoral bond details, questioning the bank's intentions.

The Hindu

Electoral bonds: SC to hear SBI's plea seeking extension to disclose details on March 11

Electoral bonds: Supreme Court to hear SBI's plea for extension on electoral bond disclosure, amid contempt allegations, on March 11.

The Hindu

Karnataka High Court imposes ₹2 lakh cost on bank for arguing that it will return documents of mortgaged property only to the original borrower knowing well that he is dead

The High Court of Karnataka imposed a cost of ₹2 lakh on a public sector bank for insisting that it would return documents of a mortgaged property only to the original borrower, who is dead, even after accepting the loan amount from the borrower’s 85-year-old father, who voluntarily came forward…

The Hindu

Former bureaucrats ask EC not to announce Lok Sabha schedule pending electoral bonds disclosure by SBI

Former civil servants urge Election Commission to delay Lok Sabha polls until State Bank of India shares electoral bond data.

The Hindu

Electoral bonds | SBI plea seeking time till June 30 is condemnable: P Chidambaram

P. Chidambaram condemns SBI's delay in revealing electoral bond details, criticizes PM Modi's Tamil Nadu projects, promises reforms if elected.

The Hindu

ED attaches ₹376-crore assets in Bhushan Steel case

Enforcement Directorate attaches ₹367 crore assets in Bhushan Steel money laundering case, involving shell companies and fraudulent practices.

The Hindu

Dubious response: On the State Bank of India and the Electoral Bond scheme

The Supreme Court must compel the State Bank of India to furnish the information on the Electoral Bond scheme well before the general election

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