Banks

News and Trends

UCO Bank Q2FY24 Results: Net Profit Up By 80%

The Kolkata-headquartered bank reported a net profit of INR 402 crore for the September quarter of FY24, which is a staggering increase of over 80 per cent on net profit reported in Q2 FY23

Business Ideas

Online Merchants Are Losing Significant Revenue With This Billing Mistake — Are You Guilty?

With clear, recognizable billing descriptors, merchants can save themselves the headache of avoidable transaction disputes and keep their customers happy and returning.

News and Trends

South Indian Bank Appoints PR Seshadri as New MD And CEO

South Indian Bank (SIB), one of India's leading private sector banks with over nine-decade legacy has appointed PR Seshadri as its MD and CEO effective October 1, 2023.

News and Trends

The New Face of Money: How Banks are Leveraging Metaverse for Good

Banks have long banked on two phenomena- if they can get the attention of customers when they are young, they can hold on to them for life and the customer-executive relation in a traditional physical space. But with time, the sector has aced spotting which change to adapt and which to avoid. Safe to say, they have been open to the adoption of Metaverse and virtual realities in their systems.

Business News

Bank of America Is Raising Its Minimum Wage — Up 53% Since 2017. Here's What Full-Time Salaries Will Look Like.

The North Carolina-based company said it's increased its minimum hourly rate at least five times in the past six years.

Finance

Why Cross-border Payments is Not as Simple as UPI and How that can be Changed

While the Asia-Pacific region, particularly India, has been a figurehead for fintech adoption, with UPI and other digital technologies, such as Aadhar, cross-border remittance continues to be a lengthy-tedious process.

Business News

Wall Street Banks Slapped with $549 Million in Fines for Using WhatsApp 'Off-Channel' at Work

Among the fined banks, Wells Fargo faces the steepest penalty at $125 million.

Business News

Federal Reserve's New Program Will Make Sending Money Faster and Easier Than Ever Before

FedNow aims to modernize the country's payment system, reducing delays in cash transfers and providing real-time settlement in central bank accounts.

Business News

Bank of America Slammed With $250 Million Fine for Opening Fake Accounts, Double-Dipping Charges — Here's How to Find Out If You Qualify for Payment

At least as far back as 2012, bank employees created unauthorized credit card accounts in customers' names to boost sales and better evaluations.

News and Trends

Punjab National Bank Launches Virtual Branch In Metaverse

The bank will offer an immersive 3D experience to the customers while performing traditional banking activities through their digital avatars

News and Trends

HDFC Twins Merger to Produce 4th Largest Bank in the World

HDFC-HDFC Bank merger which is set to take place on July 1 will see HDFC shareholders getting 42 shares of HDFC Bank for every 25 shares they hold.

Business News

The SEC Is Possibly Investigating 'Conduct' Of Former First Republic Executives Prior to JP Morgan Sale

The probe is allegedly looking into whether then-executives of the now-failed bank "improperly traded on insider information."

Money & Finance

Breaking the Bank: America's Multi-Trillion Dollar Banking Problem

Now, more than ever, is the time for the American people to fight to lessen our archaic banking system.