The IDBI Bank received the Indian government’s nod to handle import and export transactions with Iran, a move which would help in promoting two-way trade amid US sanctions on the Persian Gulf country, industry sources said.
One year after being hit by a $2-billion scam, India’s Punjab National Bank (PNB) is set to return to annual profits and strong loan growth in fiscal 2020 even as investigations continue into the country’s biggest banking fraud.
China should encourage its banks to support smaller, private firms in the real economy, rather than forced lending or policies such as quantitative easing, a state newspaper quoted a central bank official as saying on Saturday.
The Reserve Bank of India (RBI) is likely to change its monetary policy stance to ‘neutral’ from ‘calibrated tightening’ on Thursday and move closer to a rate cut in April as inflation stays below the central bank’s four percent target.
Major Japanese banks are set to resume Iranian oil transactions after receiving final regulatory clearance, paving the way for the country's refiners to begin loadings as early as this month, sources with direct knowledge of the matter told S&P Global Platts Tuesday.
China should not allow the yuan to fall below seven per dollar or attempts to stabilize the currency will become more costly on the country’s foreign exchange reserves, Sheng Songcheng, an adviser to the People’s Bank of China, said on Saturday.
Iran’s Bank Saman's CEO Seyyed Ahmad Taheri Behbahani said Sunday that the country has held several sessions with a major European bank during which the bank has voiced its readiness to resume cooperation with Iran in the face of US sanctions.
The UK’s government plans to move three million people currently receiving tax credits and disability benefits on to universal credit from next April will trigger an explosion in food bank use, the Trussell Trust warned.