Visa develops new concept to make digital currencies Interoperable

Highlights

• Visa working on a system to connect different blockchain networks
• It will help in conversion of digital currency

Visa, the payments giant is working to develop a system to connect different blockchain networks. This will a...

SBI HAS NEW MANAGING DIRECTORS

HIGHLIGHTS

• In OCT 2020, the BBB recommended the names for the two posts of MDs at the SBI.
• Now Aswini Kumar Tewari and Swaminathan Janakiraman have been appointed as MDs.
• The term of both appointments is of three years each.

REGIONAL BANKS IN JAPAN TO RECEIVE ADDITIONAL INTEREST OF 0.1% BY BOJ

Highlights –

• Regional banks in Japan to receive additional interest of 0.1% by BOJ.
• BOJ to provide additional interest on the balance of current account deposits.
• BOJ would pay up to 50 billion yen a year to regional lenders.
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FEASIBILITY STUDY ON DIGITAL CURRENCY TO BE STARTED BY THE BANK OF JAPAN FOR FISCAL 2021

Highlights –

• Feasibility study on digital currency to be started by the Bank of Japan for fiscal 2021.
• The study is said to begin in April 2021.
• BOJ will collaborate with other central banks and fintech firms to study the same.
...

The total number of U.S. banks and credit unions dropped

Since 2010, the total number of U.S. banks and credit unions has dropped to just 10,537 financial institutions by an astonishing 31 per cent.

Yet there have been only a couple of credit union-bank mergers in the last two years, compared to nearly 400 business mergers. Although not fresh...

DIGITAL CURRENCY CANNOT BE UNDER PRIVATE FIRMS

Highlights:

• Bank of France's Governor stated that private companies cannot be given the charge to issue digital currency.
• Central banks across the world are planning to release digital money to prevent the loss of state control over money.
...

FOREIGN BANKS OF THE US-CHINA AGREEMENT

The International Banks Market of Zacks often covers U.S.-based foreign banks. As a global banking company in the U.S. can have both state-chartered and federal branches, the Federal Reserve plays an important role in controlling its activities in the U.S. These companies not only provide a broad...

Top financers pull out of government policy

Insurances in India are very tricky as most of the investment goes into advertising a policy, which is a moving topic. The insurance sector took a major hit because there have been reports that, along with banking, there has been serious damage been done to the insurance sector that is largely at...

Investment banking pulling the weight of banks failures

As the state of the banking system in the United States is not as good as we would think it should be, this is because the banking sector has been slow to adopt the changing trends in the international banking and now the customers are turning to private investment startups that are taking away t...

Good news for finance in India

Indian finance has been in turmoil over the past months and there seem to be no signs of this getting better at any point. Finance in India is a very difficult topic to govern in a nation as huge as India. The nation has a very diverse banking infrastructure giving the liberty to privatize as wel...

PNC Bank Moves To Acquire Ambassador Financial Group, Inc.

PNC bank, which is classified as one of the leading banks worldwide, has declared their plans, moving towards acquiring Ambassador Financial Group, Inc. (AFG). AFG is a company specialized in balance sheet management. Most of their clients are investors, banks, insurance companies and any other fina...