Bank

Around one million bank employees went on strike across India Wednesday, a union representative said, demanding better pay and a government crackdown on companies who wilfully default on loan payments. Some 5,000 workers chanted slogans and waved banners at a protest in the financial capital Mumbai, union boss Devidas Tuljapurkar…

Nepal Rastra Bank (NRB) on Sunday issued a Letter of Intent (LoI) to Emerging Nepal to establish Infrastructure Development Bank (IDB) which will focus on financing mega infrastructure projects. The IDB will be Nepal’s first infrastructure bank. It has nearly 40 promoters. NRB gave the go-ahead in principle after the…

The latest deposit mobilization and loan disbursement figures of commercial banks indicate that banks are still in tight lending condition. Commercial banks added Rs 72 million in deposits and disbursed loans worth Rs 68 billion in the review period which means banks are not yet in a comfortable lending position.…

Banks that have been facing crisis of loanable funds have something to cheer about, as Nepal Rastra Bank has allowed them to borrow funds from foreign banks and financial institutions to meet the demand of credit in the country’s economy. NRB has provided borrowing facility to commercial banks based on…

The Nepal Rastra Bank (NRB), the central bank, has directed commercial banks to extend their reach to every local body in the country to raise people’s access to banking services and facilitate transfer of grants to the lowest tier of government. Although the NRB has been pushing Class ‘A’ financial…

The International Monetary Fund (IMF) said on Friday that the import restrictions announced by the US President Donald Trump would not only hurt the US, but also other economies. "The import restrictions announced by the US President are likely to cause damage not only outside the US, but also to…

Indian authorities suspended more employees and were carrying out raids as investigations into fraudulent transitions worth about 1.77 billion US dollars at a state-owned bank continued. Multinational banking and financial services company Punjab National Bank (PNB) said the bank's officials were being probed for the role in carrying out fraudulent…

India’s largest public sector lender State Bank of India (SBI) has invested an undisclosed amount from its Neev Fund in Indian solar player SunSource Energy, for developing solar project assets in states with low levels of capital investment, the company said in a statement on Friday. SunSource Energy, a solar…

China's banking regulator said Saturday it had fined 12 banks a total of 295 million yuan (about 46.2 million U.S. dollars) over a bill fraud case in the northwestern province of Gansu. Investigations of a Postal Savings Bank of China (PSBC) sub-branch in the Wuwei city of Gansu in December…

IFC, a member of the World Bank Group, is partnering with the Central Bank of Sri Lanka (CBSL) to develop the country’s first National Financial Inclusion Strategy (NFIS) to promote a more effective and efficient process to improve financial inclusion across Sri Lanka. IFC, over the course of the project,…