Failed Banking

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Monday, 28 September 2020

Latest News for: Failed banking

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Why privatisation of PSBs won’t work

Business Line 28 Sep 2020

2) Private banks fail all the time ... In the 20 years from 2001 to 2020, as many as 559 private banks with assets of $721 billion failed in the US (see chart) ... 3) Big private banks can fail any time. There is a myth that if a bank gets large enough, it will not fail ... it cannot fail....

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Commerzbank taps Deutsche Bank exec to be next CEO

Market Watch 28 Sep 2020

Knof, who will take over in January, will succeed current CEO Martin Zielke, who resigned along with Commerzbank's chairman in July after acknowledging he had failed to sufficiently turn around the bank ... Knof, 55 years old, has been head of Deutsche Bank private bank in Germany, and until 2017 was CEO at Allianz Deutschland AG....

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Changes to Commerzbank's strategy after CEO named

RTE 28 Sep 2020

However any major changes may still take months to formalise at the bank.  ... Remaining board members' hands were tied from moving forward even as the bank's outlook darkened. ... Knof, a top manager at rival Deutsche Bank, won its endorsement. ... "It sounds simple but the last management team failed," he said. ....

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Beware of fake WhatsApp calls and messages, SBI warns account holders

Moneycontrol 28 Sep 2020

State Bank of India (SBI). State Bank of India (SBI) has warned its account holders to be aware of unknown whatsapp calls and messages that may ask customers about bank details and it may lead to possible banking fraud with account holders.“Customers are now being targeted on WhatsApp ... — State Bank of India (@TheOfficialSBI) September 27, 2020....

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Huawei CFO Meng back in Canadian court fighting U.S. extradition

Toronto Sun 28 Sep 2020

Meng, 48, was arrested in December 2018 on a warrant from the United States charging her with bank fraud for misleading HSBC about Huawei’s business dealings in Iran and causing the bank to break U.S ... We apologize, but this video has failed to load ... We apologize, but this video has failed to load ... We apologize, but this video has failed to load ... ....

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Windsor police arrest bank robbery suspect

Canada Dot Com 28 Sep 2020

We apologize, but this video has failed to load ... Windsor police arrest bank robbery suspect Back to video....

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RBI puts off monetary meet in absence of new members

The Times of India 28 Sep 2020

Where the central bank fails to meet the inflation target, in terms of the provisions of the RBI Act, it shall set out a report to the government stating the reasons for failure.Meanwhile, the RBI extended a facility for banks that allowed them to borrow from the central bank, an ......

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Trai, DoT differ on registration of internet-based other service providers

Live Mint 28 Sep 2020

OSPs offer IT-enabled, or application, services such as business process outsourcing (BPOs), call centres, tele-trading, telemarketing, network operation centres, e-commerce, tele-banking and other IT-enabled services ... The DoT said if an OSP fails to comply with a penalty order, bank guarantees can be invoked to recover the said amount....

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Mint Lite | RBI MPC, India covid tally, pay gap in Indian cos, puppets & others

Live Mint 28 Sep 2020

The Reserve Bank of India has rescheduled its interest-rate meeting, scheduled for Tuesday, after authorities failed to appoint external members to the Monetary ......

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Gulf nations are desperate for higher oil prices

Russia Today 28 Sep 2020

Depressed economic activity is also taking a heavy toll on the region's banks, forcing a wave of mergers as they scramble to survive. The National Commercial Bank, Saudi Arabia's largest lender by assets, has lined up a $15.6 billion takeover bid for rival Samba Financial Group....

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Kesavananda Bharati: Unwitting saviour of democracy

Frontline 28 Sep 2020

Cooper vs Union of India (1970), the court struck down the government’s much-publicised scheme of bank nationalisation for failing to provide for a just compensation to the 14 banks named for takeover in the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1969....

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Editorial Roundup:

Dispatch Argus 28 Sep 2020

Des Moines Register. September 24, 2020 ... Editorial. A pandemic. Natural disasters ... ——— ... As a result, temperatures dropped, snow fell during the summer, crops failed, famine spread and millions of people starved ... In 1933, the lowest point in Great Depression (1929-39), half the banks failed and 15 million were unemployed (20%) without a social safety net ... ....

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Trust won't return to banking until executives are held to account

Irish Independent 27 Sep 2020

The Irish Banking Culture Board has one overriding mission according to its website, "to make banking in Ireland trustworthy again". The banking who? The culture what? Yes, the Irish Banking Culture Board which was set up in the wake of the tracker mortgage scandal ... The other banks are still waiting to finalise their number....