Banking Sector

Bitcoin not to be considered a currency says China

Bitcoin not to be considered a currency says China On Thursday China's central bank warned that virtual currency Bitcoin carries considerable risks barred financial institutions from handling Bitcoin transactions.

In China demand for Bitcoin has been predominantly strong, where investors have enthusiastically accepted the currency and helped to steer its price to spectacular new high above $1,000 in recent weeks.

Bank of Canada says deep discounting in stores is a disinflation threat

Bank of Canada says deep discounting in stores is a disinflation threat Profound discounting by retailers is spreading disinflation said the Bank of Canada. This is a happening due to more consumers crossing the border to shop for the new arrival here of U. S. chains such as Target Corp.

The bank blamed excessive supply in the economy and discriminating competition in the retail sector, which it said are proving to be more persistent than predicted.

Class action ANZ begins today

Class action ANZ begins todayToday the $57 million class action against ANZ has begun and it could turn into a multi-billion-dollar claim against the nation's banks.  Lawyers representing 43,500 Australian ANZ customers in a dispute over fees claim that the bank's directors drove plans to charge the maximum amounts possible from the customers.

Lending scheme (FLS) on business get preference not mortgage borrowers.

Lending scheme (FLS) on business get preference not mortgage borrowers.Mark Carney, The Bank of England's governor say that supporting mortgage lending was "no longer necessary".

Considering the price rise in many regions he mentioned that an overheated housing market would be a risk to the economy.

Funding for Lending will be refocused on businesses from January 2014, the governor said.

Customers join hands to file lawsuit against Kiwibank

Customers join hands to file lawsuit against KiwibankCustomers of the state-owned Kiwi Bank who want to join hands in filing lawsuit against the bank asserting unfair penalty fees have time until 11 pm tonight to register.

Bharatiya Mahila Bank offers special loans to women on its first day

Bharatiya Mahila Bank offers special loans to women on its first dayOn Tuesday, the Indian Prime Minister Manmohan Singh inaugurated Bharatiya Mahila Bank (BMB) the country’s first all-women national commercial bank.

On its very first day the bank guaranteed higher interest rate on savings bank accounts and introduced “kitchen loans” and to entice women customers.

HSBC elusive over subsidiary model

HSBC elusive over subsidiary modelGuidelines were issued earlier this month by the RBI allowing  foreign banks to  incorporate Wholly-Owned Subsidiary (WOS) branches to acquire local private sector lenders and expand branch-network across the country without any restrictions.

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