County Banks Financial News

The British government is reportedly set to announce measures that could see banks stripped of their license if they choose to debank customers due to their political views. 

Dodla Dairy, E2E Networks, Texmaco Infra, Jagran Prakashan and Tokyo Plast Int, hit their fresh 52-week highs during Thursday's trade on NSE. Benchmark NSE Nifty closed 146.0 points up at 19979.15 amid buying in frontline bluechip counters.

E2E Networks, Tokyo Plast Int, Newgen Software, Indian Hume Pipe and Premier Exp, hit their fresh 52-week highs at 10:51AM(IST)on NSE. Benchmark NSE Nifty index fell 9.35 points to 19823.8 amid selling in frontline bluechip stocks.

The U.S. Secret Service seized multiple corporate accounts last month controlled by Deltec Bank, a Bahamian bank with ties to crypto-related firms. 

Forge, a subsidiary of Société Générale — the third-largest bank in France — became the first company to obtain the highest access license for providing crypto services in the country — a prerequisite for numerous service activities (PSAN). The provider will have a right to custody digital assets, to purchase and sell them for legal tender, and trade them against each other.

Dishman Carbogen, Vilin Bio Med Ltd., Vertexplus Technolo, Ugro Capital and Jindal Drilling, hit their fresh 52-week highs during Wednesday's trade on NSE. Benchmark NSE Nifty closed 83.9 points up at 19833.15 amid buying in frontline bluechip counters.

Airan Ltd., DCM Shriram Ind, Hercules Hoists, Agarwal Corp and Bliss GVS Pharma, hit their fresh 52-week highs at 11:27AM(IST)on NSE. Benchmark NSE Nifty index rose 44.7 points to 19609.2 amid buying in frontline bluechip stocks.

The findings come after the collapse of Silicon Valley Bank in the US in Q1 occurred at the same time as Credit Suisse's collapse, triggering concerns about the health of the wider banking sector.

Bangladesh and India on Tuesday launched a much-anticipated trade transaction in rupees, a move aimed at reducing dependence on the US dollar and strengthening regional currency and trade. This is the first time Bangladesh has done bilateral trade with a foreign country in addition to the US dollar.Bangladesh Bank Governor Abdur Rouf Talukder described the start of trade settlement in rupees as the «first step in a great journey».

Banks are also closed on Sundays and second, and fourth Saturday’s in the country. So, in the month of July as one of the major festival falls on the fifth Saturday, i.e., July 29 and banks will be closed on fourth Saturday that is on July 22.

Manipur government has instructed banks to extend by up to 12 months a moratorium given on retail loan payment in the state, as normal life continues to be affected due to ethnic violence that started more than two months ago. The state government had last month invoked provisions under the Reserve Bank of India’s (Relief Measures by Banks in Areas Affected by Natural Calamities) Directions, 2018, and asked banks to provide a moratorium on EMP payments on retail loans such as personal, vehicle and housing loans. A follow up meeting between banks and state authorities on July 1 decided that banks would provide relief measures also by way of rescheduling of existing loans and sanctioning of fresh loans, including to the agriculture and MSME sectors. A statement from the state finance department said borrowers, whose repayment capacity has been severely affected due to disruption of economic activities and loss/damage of economic assets, including agriculture and allied activities, may contact the concerned banks for availing of the moratorium and other rehabilitation and restructuring measures. This facility, though, will not be available for accounts that had been classified as non-performing assets on or before May 3 this year.

The FCA said it wants to see 'a competitive market with fair value retail banking products', with banks helping customers to access them.

PKH Ventures IPO: Issue subscribed 65% on Day 3; check details The company announced in a statement to the stock exchanges that it had decided to cancel the IPO in accordance with a board resolution adopted on July 4 after consulting with IDBI Capital Markets and Securities Ltd due lack of subscription from QIB. As per the Draft Red Herring Prospectus (DRHP), the company's promoter, Pravin Kumar Agarwal, offered to sell up to 98,31,461 shares as part of the IPO, in addition to a fresh offering of up to o 1,82,58,427 shares. Currently, 63.69% of the company is owned by Pravin Kumar Agarwal.

During a speech at the Salzburg Global Seminar on bank regulation and supervision, Bowman called for attention from global regulators to the current supervision of novel banking activities, in particular banking as a service and digital assets. According to Bowman, financial institutions have been left in a "supervisory void" in terms of emerging technologies.

“Bitcoin has such a marketing problem.” 

The Russian megabank Rosbank says it has launched a “cross-border crypto payments” pilot.

The Russian P2P (peer-to-peer) crypto market is growing at a rapid pace, with a report claiming vendors can access “$296 million” worth of trades per day.

The Federal Reserve Board of the United States has issued a consent order to Silvergate Bank and its parent company as part of the institution’s plans to “wind down operations” and liquidate.

Barney Frank, a former member of the United States House of Representatives and board member of Signature Bank, has pointed fingers at certain members of the public in the wake of the bank’s collapse.

Both Hong Kong and the United Arab Emirates (UAE) have strengthened ties after their respective central banks (CBUAE) and monetary authorities (HKMA) agreed to join forces on crypto regulation earlier this week.

A top federal official representing India's central bank, the Reserve Bank of India (RBI), recommended all banks adopt artificial intelligence (AI) and blockchain technology to ensure sustainable growth and stability.