Tag Archives: Bank

Job cuts in Deutsche Bank: From NYC to Bengaluru, employees’ careers end in an envelope, a hug and a cab ride

A Deutsche Bank employee in Bengaluru told Reuters that he and several colleagues were told first thing that their jobs were going. (Reuters) Summoned by HR to be handed a Deutsche Bank envelope, many of its staff across the world then left their desks for the last time on Monday, shown the door by their German employer within hours of ... Read More »

Deutsche Bank axes whole teams in Asia-Pacific as 18,000 job cuts begin

As part of the overhaul, the bank will scrap its global equities business and also cut some of its fixed income operations Whole teams in Deutsche Bank’s Asian operations were told their positions were gone on Monday, as the lender began axing 18,000 jobs globally in one of the biggest overhauls to an investment bank since the aftermath of the ... Read More »

Hike Messenger, Airtel Payments Bank Collaborate on Digital Wallet

Screenshot from the Hike Wallet App Indian instant messaging application Hike on Wednesday partnered with Airtel Payments Bank to power its digital payment wallet. “We’re on track of over five million transactions this month (November) from services such as recharge and P2P. “We’re excited and we look forward to working with Airtel on supporting this effort to bring more Indians online and enable easy ... Read More »

State Bank Of India Cuts Lending Rate By 0.9% Across Maturities

Mumbai: State Bank of India, the country’s biggest lender by assets, said on Sunday it had cut its lending rates by 90 basis points for maturities ranging from overnight to three-year tenures, after experiencing a surge in deposits. After the move, its so-called overnight marginal cost of funds-based lending rate (MCLR) fell to 7.75 per cent from 8.65 per cent, ... Read More »

Viral Acharya, New Reserve Bank Deputy Governor, Has An Impressive CV

The government has appointed Viral V. Acharya, a professor of economics at New York University, as one of the Reserve Bank of India’s four deputy governors for a term of three years, according to a statement on Wednesday. Since 2008, Dr Acharya has been teaching at the Stern School of Business in New York University. . Prior to joining NYU ... Read More »

Banks’ loans rose 5.8% in two weeks to December 9: Reserve Bank

Indian banks’ loans rose 5.8 per cent in the two weeks to Dec. 9 from a year earlier, while deposits rose 15.9 per cent, the Reserve Bank of India’s weekly statistical supplement showed on Friday. Outstanding loans rose by Rs. 46830 crore to Rs. 73.39  lakh crore in the two weeks to December 9. Non-food credit rose Rs. 38,690 crore ... Read More »

Yes Bank Raises Rs. 3,000 Crore From Bonds

New Delhi: Private sector Yes Bank on Saturday said it has raised Rs. 3,000 crore from bonds to fund business expansion. With this capital raising, the bank’s Tier-I Capital Ratio will be at 12 per cent including profits and adjusted for pro-rata dividends, Yes Bank said in a statement. The Basel-III compliant additional Tier-1 (AT1) Bonds will be listed on ... Read More »

Trading Calls: Buy Tata Motors, Sun Pharma, Sell Axis Bank, Say Experts

NDTV Profit spoke to market experts on their top stock picks. The markets edged lower on Monday, with the Nifty trading near 8100 level. Analysts say trading is likely to be lacklustre for the rest of this year as foreign fund managers typically go on holidays during year-end. Meanwhile, NDTV Profit spoke to market experts on their top stock picks. ... Read More »

Embarrassed, Upset Over Handful Of Employees, Says Axis Bank Chief Shikha Sharma

New Delhi: “Embarrassed and upset” over the conduct of a handful of employees bringing the organisation into disrepute, Axis Bank MD and CEO Shikha Sharma on Sunday said the bank has hired KPMG to conduct a forensic audit for enhanced due diligence and building more safeguards. Assuring that the fundamentals of the bank is on a “solid footing’, Ms Sharma ... Read More »

Axis Bank Cuts Lending Rates By Up To 0.15%

Mumbai: Country’s third largest private lender Axis Bank on Friday announced up to 0.15 per cent reduction in its lending rates, signalling a further downward trend in borrowing costs. The Ahmedabad-headquartered bank cut its overnight marginal cost of funding-based lending rate – the most competitive offering by rates – by 0.10 per cent to 8.55 per cent. The MCLRs for ... Read More »