The Latest Breaking News on Financial Services

Ernakulam District Consumer Disputes Redressal Commission orders nationalised bank to refund ₹39,507 to credit card holder and pay ₹35,000 compensation for unauthorised withdrawal. Commission cites Kerala High Court ruling that bank cannot deny liability despite RBI's limited liability circular. Bank should not have approved transaction exceeding established limit, highlighting flaw…

CEO Charlie Nunn calls for measures such a windfall tax to be ruled out before next general election

HSBC UK said an ‘internal system issue’ had caused the disruption, but banking services are ‘getting back up and running’.

IBD Stock Of The Day: First Citizens BancShares is actionable near record highs as its Silicon Valley Bank purchase fuels a major rally.

Exclusive: UK’s largest high-street bank preparing review of middle-management roles in response to expected income squeeze

Thousands of Silicon Valley employees have been laid off over the past year, often finding out the bad news by email. Hit hard by rampant inflation and over-hiring during the Covid pandemic, the US tech giants of the San Francisco Bay Area have faced one of the worst crises in…

Consumers report problems using bank’s app on one of the busiest shopping days of year, Black Friday

The RBI recently issued regulatory measures to banks and NBFCs to increase risk weights associated with consumer credit and bank credit by an additional 25 percentage points. We examine the rationale behind the move and its potential impact.

The problems started on the morning of the shopping bonanza, which is also payday for some people, being the last Friday of November.