Failed Banking

Monday, 05 December 2022

Latest News for: Failed banking

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Sepco official acquitted of bank fraud for want of evidence

The News International 06 Dec 2022

The Sindh High Court (SHC) on Monday set aside the conviction of a Sukkur Electric Power Company (Sepco) official in a bank fraud case because the prosecution failed to prove the charges. Abu Bakar Sheikh had been sentenced to seven years in prison by a special court for banking ...

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GLOBALLY RECOGNIZED ROSEN LAW FIRM Encourages U.S. Bancorp Investors to Secure Counsel Before Important Deadline ...

Victoria Advocate 06 Dec 2022

According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that ... Bank National Association (U.S. Bancorp's banking subsidiary) created sales pressure on its ... Bank National Association and by extension, U.S.

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Silvergate CEO Attempts to Address Concerns in Public Letter

CoinDesk 06 Dec 2022

Shares of the crypto-focused bank have been reeling in part due to links with failed crypto exchange FTX and sister company Alameda Research ... .

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Senate Exonerates Finance Minister Over Alleged N206bn Budget Padding, Others

This Day 06 Dec 2022

•Condemns NSIP shoddy implementation ... President ... Earlier at an interface with the Senate Ad – hoc committee on uneven disbursement of N500 billion Development fund by the Development Bank of Nigeria (DBN), the Minister of Humanitarian Affairs, Sadiya Umar Farouq, failed to supply the committee with verifiable evidence of beneficiaries.

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The Devastating Failure of Japan’s Mini Submarines at Pearl Harbor

War History Online 06 Dec 2022

They expected the submersibles to sneak into the harbor and aid the air attack, but the mission failed ... Hisashi Mito later noted in an interview that the vessels were also considered “double insurance,” in case the air attack failed ... exploded on the bank of Ford Island.

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RBI's 3-day monetary policy meet to start today; all eyes on rate hike stance

Beijing News 05 Dec 2022

An out-of-turn meeting of the Monetary Policy Committee (MPC) of the Reserve Bank of India was held in early November to discuss and draft the report to be sent to the central government for having failed in maintaining the inflation mandate.

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HSBC fined €82,000 by FIAU for anti-money laundering breaches

The Malta Independent 05 Dec 2022

In an online notice, the FIAU said that the bank had failed to document the justification for a €2 million transaction by one of its clients ... In a separate case, the FIAU said the bank’s transaction-tracking system failed to alert the company to a number of high-value transactions from a client.

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Bank of Baroda expects 25-35 basis points rate hike from Dec 5-7 RBI policy meet

Beijing News 05 Dec 2022

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RBI's 3-day MPC meet to begin from today; all eyes on rate hike stance

Live Mint 05 Dec 2022

RBI likely to moderate rate tighteningThe meeting was called under Section 45ZN of the Reserve Bank of India (RBI) Act 1934, which pertains to steps to be taken if the central bank fails to meet its inflation-targeting mandate.Further details about the special meeting are not officially in the public domain. (With inputs from agencies) .

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35 basis points repo rate hike looks imminent from RBI policy meet: SBI Research

Beijing News 05 Dec 2022

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Indian stock indices extend losses to second day; Sensex down over 300 pts

Beijing News 05 Dec 2022

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RBI slaps ₹5 lakhs penalty on this cooperative bank for violating norms

Live Mint 05 Dec 2022

... inter alia, that the bank failed to comply with the aforesaid RBI directions to the extent it did not (i) adhere to exposure limits for single investment and (ii) classify certain term loans and credit facilities as non-performing assets in accordance with the IRAC norms.

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Banks have ceded UPI space to nonbanking sector: RBI Dy Guv

The Times of India 05 Dec 2022

Banks have ceded the unified payments interface space to non-banks, Reserve Bank of India deputy governor T Rabi Sankar has said ... Banks had failed to scale UPI during the early days and have now missed the bus, Sankar said ... After implementing the pilot project for wholesale CBDC, the central bank is now looking at trying out CBDC using blockchain.

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RBI imposes Rs 5-lakh penalty on Bharat Co-operative Bank

The Economic Times 05 Dec 2022

Based on this, a notice was issued to the bank, advising it to show cause why a ...

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Silvergate CEO seeks to reassure investors over crypto contagion

The Block 05 Dec 2022

Silvergate Bank, which specializes in service to fintech and crypto clients including failed crypto exchange FTX and its sister hedge fund Alameda Research, published a letter from its CEO to reassure shareholders about its due diligence practices, risk management and reserves ... The bank CEO added that customers “continue to have access to their U.S.