Category Archives: Banking

Auto Added by WPeMatico

Venezuela’s Bolivar Sees 454% Inflation in Q1 as Maduro Hawks the Petro

Venezuela’s Bolivar Sees 454% Inflation in Q1 as Maduro Hawks the PetroRunaway inflation continues to devalue the Venezuelan Bolivar (VEB), even as the country’s authoritarian government seeks to divert attention from the floundering economy by hawking its “Petro” cryptocurrency. According to Reuters, prices in Venezuela rose by 454 percent during the first quarter of 2018… Read More »

Chilean Cryptocurrency Exchanges Seek Clear Regulations After Banks Shutter Accounts

Chilean Cryptocurrency Exchanges Seek Clear Regulations After Banks Shutter AccountsTwo Chilean cryptocurrency exchanges, BUDA and Crypto MKT, recently saw a number of banks in the country shut down their accounts for dealing with cryptocurrencies. In response, the companies decided to call on the country’s banking association, Asociación de Bancos e Instituciones Financeras (ABIF), to clarify… Read More »

Central Banks: Blockchain Will Overhaul Securities Settlements

Central Banks: Blockchain Will Overhaul Securities SettlementsThe European Central Bank and the Bank of Japan have released a joint report claiming that distributed ledger technology (DLT) can generate new securities settlement mechanisms, such as “cross-chain atomic swaps” among unconnected ledgers. The 52-page report is titled, “Securities settlement systems: delivery-versus-payment in a distributed ledger environment.” DLT’s… Read More »

Andhra Bank Shares Slide Amid Fraud Probe Involving Ex-Director

Andhra Bank Shares Slide Amid Fraud Probe Involving Ex-DirectorThe Enforcement Directorate has filed additional charges against Anup Garg, a former director of Andhra Bank, in connection with a more than Rs 50 billion fraud case involving Sterling Biotech that was filed last year. Commuters walk past a bank sign along a road in New Delhi,… Read More »

‘Jan Gan Man Ki Baat’ Episode 205: India’s Wilful Defaulters and BJP’s Win in the Northeast

‘Jan Gan Man Ki Baat’ Episode 205: India’s Wilful Defaulters and BJP’s Win in the NortheastVinod Dua discusses the crisis in the Indian banking sector and the BJP’s performance in the assembly elections in Tripura, Meghalaya and Nagaland. The post ‘Jan Gan Man Ki Baat’ Episode 205: India’s Wilful Defaulters and BJP’s Win in the… Read More »

PNB Fraud: CBI Detains Gitanjali Group Vice President

PNB Fraud: CBI Detains Gitanjali Group Vice PresidentA showroom of Geetanjali jewels. Credit: Facebook Mumbai: The CBI today detained Vipul Chitalia, the vice president of Gitanjali Group of Companies, as a part of its probe into the multi-crore Punjab National Bank (PNB) fraud, an official said. Chitalia was apprehended at Mumbai airport and brought to… Read More »

Another Bank Fraud, Another Diamond Trader and yet Another Weakness in a Public Bank’s Systems

Another Bank Fraud, Another Diamond Trader and yet Another Weakness in a Public Bank’s SystemsIncredible as it may sound, the Oriental Bank of Commerce scam signals an even more disheartening failure of a bank’s risk management functions than the PNB scandal. The parallels between the two frauds are unmistakable. Credit: PTI Close on the hills… Read More »