India paves way for corporates to establish own banks

A committee at the Reserve Bank of India (RBI), the country’s central bank, has proposed a series of changes to revamp the country’s banking sector. The changes allow industrial conglomerates…

23 Nov 2020 By Verdict Staff

Westpac lands record AML fine of $1.3bn

Westpac is to pay an AML fine of A$1.3bn ($916m), the largest ever penalty in Australian corporate history. The fine relates to Westpac breaching anti-money laundering laws and failing to…

24 Sep 2020 By Douglas Blakey

India’s PMC approaches major banks for possible merger

Punjab and Maharashtra Co-operative Bank (PMC), a fraud-hit lender is looking for a merger opportunity after failing to recover funds from a big defaulter amid the Covid-19 pandemic, Reuters reported.…

17 Sep 2020 By Verdict Staff