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The Reserve Bank of India Reveals Shocking Statistics: 93% of 2000 Notes Have Found Their Way Back to Banks!

The Reserve Bank on Friday said that 93 percent of Rs 2000 currency notes that were in circulation on May 19 — the day the currency was withdrawn from circulation — have been returned to banks. Until August 31, 2023, the total value of Rs 2000 bank notes received back from circulation will be Rs

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Banking & Insurance Economic & Finance Market Overview

More than half a trillion dollars wiped off from US banking system, recent data suggests

It seems like the US banking crisis is not over yet. On May 1, 2023, the regulators decided to seize debt-ridden First Republic Bank (FRB) and sold all of its deposits and majority of its assets to the biggest bank, JPMorgan Chase. This was done to limit the turmoil in banking sector. However, despite almt

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Banking & Insurance Economic & Finance

RBI’s Possible Move to Slash 50 bps Interest Rates this year

According to economists at Bank of Baroda, India’s central bank RBI may reduce/cut its lending rate twice in the second half of this year (FY24) after raising interest rates by 250 basis points in the last financial year (FY23). As a result, the repo rate will fall to 6%, from 6.5% currently. The economists at

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Economic & Finance Market Overview Real Estate

Higher rates and tighter credit are wobbling the commercial real estate market, and these two biggest players are feeling the pain

Due to higher rates and tighter financial conditions, two of the market’s largest players are experiencing pressures in the commercial real estate market. Since the demand for commercial real estate properties faltered over the past year, Blackstone’s distributable earnings have declined significantly. According to the asset manager’s latest financials, profits from the sale of assets

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Banking & Insurance Economic & Finance

What Does First Citizens Bank’s Acquisition of Silicon Valley Bridge Bank Mean for Customers?

A purchase agreement was entered into between First Citizens Bank and Trust Company of Raleigh, North Carolina and Silicon Valley Bridge Bank, National Association, according to the US Federal Deposit Insurance Corporation (FDIC). In a major development in the on-going US banking crisis, First Citizens has acquired Silicon Valley Bank (SVB). As per updates, the

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Banking & Insurance Commodities & Currency Cryptocurrency Digital Money Economic & Finance Market Overview

The Indian banking sector is well regulated and well supervised: RBI Governor

Shaktikanta Das, the governor of the Reserve Bank of India(RBI), gave the country’s banking system a thumbs-up, stressing the importance of banking sector regulation and supervision in light of recent developments in the US. “India has a well-regulated and well-supervised banking sector. The same would apply to the NBFC sector and other financial entities under

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Fintech Startups Increasing Rapidly for Banking

The fintech industry is on the ascent. From various perspectives, it has dominated classic banking, totally taking over activities customarily held for banks and financial institutions. There is a large number of reasons behind this crawling takeover.  Financial juggernauts such as big banks are frequently easing back to actualize technical advances because of bureaucracy and

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