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The Latest Breaking News on Financial Services

Letters to The Editor — May 25, 2023

Readers’ mail to The Hindu’s Letters to The Editor

The Hindu

UOB chief champions rise of sustainable financing

United Overseas Bank (UOB) has developed green frameworks to provide companies with simplified access to green and sustainable financing so that they can build resilient businesses, said Tan Choon Hin, president and CEO of UOB Thailand.

Bangkok Post

New banking hub for Ayrshire town will play "vital role" in the community, says MSP

MSP Siobhian Brown joined MP Dr Philippa Whitford at the ribbon-cutting ceremony, along with stakeholders, last Friday.

Daily Record

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PIL in Delhi HC challenges RBI decision to withdraw Rs 2000 denomination banknotes

A Public Interest Litigation (PIL) has been moved in Delhi High Court seeking direction to quash the Reserve Bank of India (RBI) Notification dated May 19, 2023, whereby the RBI has taken a decision to withdraw the Rs 2000 denomination banknotes from circulation under the clean note policy or otherwise.…

Dynamite News

Bank issues urgent customer warning as thousands of current accounts to close

If you have a current account or ISA savings account it is worth checking whether you will need to switch banks in the coming months.

Daily Record

Commentary: Downtown San Francisco had a good run. Can it recover?

Downtown San Francisco is in distress. Indicators of urban well-being point in the wrong direction: office occupancy, BART ridership and retail foot traffic are down, as is the city’s population. Every week brings news of another high-profile exit: Recent closures include a Whole Foods flagship and Nordstrom, which announced the…

Los Angeles Times

Stock market today: Asian stocks slide as US debt worries mount

Asian stock markets have slid as the U.S. government creeps closer to a potentially disruptive default on its debt

The Independent UK

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JPMorgan accuses US Virgin Islands of shielding Epstein

JPMorgan Chase is defending itself against a lawsuit by the US Virgin Islands accusing it of empowering Jeffrey Epstein to abuse teenage girls.

The New Daily

JPMorgan Chase defends lawsuit by blaming US Virgin Islands for Jeffrey Epstein's sex crimes

JPMorgan Chase is defending itself against a lawsuit by the U.S. Virgin Islands accusing it of empowering Jeffrey Epstein to abuse teenage girls

The Independent UK

Don’t call it Chase Tower anymore. The downtown Dallas landmark is getting a new name

One of downtown Dallas’ tallest towers is getting a new name and upgrades.

Tribune News Service

Money mules are involved in the majority of scam reports, ACCC says

Over a four-hour phone call, scammers gained access to Jenny's computer and transferred $300,000 out of her account. By the time she alerted the bank, it was too late.

ABC News

Hassle-free experience for majority of people with few ₹2,000 notes to exchange

A steady stream of people waited in queues to exchange the few ₹2,000 notes they had, even as banks accepted a maximum of 10 notes to be exchanged at a time. A section of businessmen with unaccounted wealth, however, look towards middlemen to exchange the notes for a 10% commission…

The Hindu

Millennial Money: How to pick a socially responsible bank

Now is a great time to look for a bank or credit union that aligns with your values

The Independent UK

Telangana continues to depend on financial accommodation facilities provided by RBI to meet requirements

In view of poor revenue receipts the government had to avail the financing options of the RBI to fund its spree of welfare programmes through most of March in the last fiscal

The Hindu

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The Hindu

RBI defends before Delhi HC ₹2,000 banknote exchange exercise

The Reserve Bank of India (RBI) on Tuesday told the Delhi High Court that withdrawal of ₹2,000 notes is not demonetisation but a statutory exercise, and the decision to enable their exchange was taken for operational convenience

Kiplinger

Three Considerations for Stashing Cash After Bank Failures

People are understandably nervous about the safety of their cash accounts. The three-bucket method helps you divide your funds based on when you’ll need to access them.

The Hindu

₹2,000 notes reach banks amid hiccups

Small queues were witnessed at some bank branches on May 23, 2023 for the exchange of ₹2,000 notes against smaller denominations as part of the withdrawal exercise.

Nottingham Post

Interactive map shows all the banks closing across Nottinghamshire

You can see if banks are closing or have closed in Nottinghamshire using the interactive map

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Leeds Live

Leeds bank closures mapped as 10 shutting across city in 2023 with people left with no local branch

Bank branches have been closing across the country

The Guardian - AU

Taking a stand: why your banking choices make a difference

Consumers have growing power when it comes to encouraging companies to act ethically

Bangkok Post

Bad mortgage loans rise amid rate hikes

Non-performing mortgage loans (NPLs) increased in the first quarter of this year due to rising interest rates, with the Bank of Thailand encouraging banks to help borrowers through debt restructuring.

Chronicle Live

Barclays bank slashes opening hours at most of its remaining branches

Announcement comes as bank plans to shut 122 branches, including Prudhoe, Washington, Alnwick, Seahouses and Haltwhistle

The Hindu

Slow withdrawal: on the RBI and the ₹2,000 note

The sudden decision by the Reserve Bank of India to withdraw the ₹2,000 notes in circulation has raised questions about the rationale

Tribune News Service

Fed's Kashkari says higher capital requirements would bolster banking system

After the high-profile failures of Silicon Valley Bank and Signature Bank, Federal Reserve Bank of Minneapolis President Neel Kashkari argued requiring banks to have higher capital levels could be the best solution to addressing the underlying weakness in the banking system.

The Hindu

No need to make a dash for ₹2,000 swaps, says RBI Governor Shaktikanta Das

Seeking to allay concerns about the legal tender status of ₹2,000 currency notes after the September 30 deadline for their exchange or deposit, Reserve Bank of India Governor Shaktikanta Das stressed there is no need to rush to the banks and signalled the last date is only meant to nudge…

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