Yes Bank claims of an investment offer worth $2 billion

Mumbai: Fund-scouting private lender Yes Bank Ltd., on Friday late evening said after a board meeting that a number of investors have evinced interest to buy Yes Bank equities worth a total of $2 billion via a preferential allotment of shares. The bank said last month that it has received an interest from an international investor to put in […]

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UBS to revamp investment bank in bid to lift flagging earnings

Switzerland’s UBS plans another shake-up of its investment banking arm to help boost earnings and curb costs after tough market conditions precipitated a performance dip. The world’s largest investment banks have had their worst start to a year since 2006, the latest data published by industry analyst Coalition on Thursday shows. “What’s been communicated today […]

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Karnataka Bank inks pact for MF business

Karnataka Bank has entered into an agreement with fintech company Finwizard Technology (known as ‘fisdom’) to offer wealth management products and services to customers, beginning with mutual funds, through the bank’s ‘KBL Mobile Plus’ app. The ‘KBL Mobile Plus’ app will offer enhanced interface to help customers navigate and choose the best-suited funds. Mahabaleshwara MS, […]

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Paytm Payments Bank Integrates UPI to Simplify Transactions

Paytm has announced that the Paytm Payments Bank will adopt the Unified Payments Interface (UPI) to simplify transactions. The Paytm Payments Bank account holders will be able to send and receive money using an @paytmbank virtual payment address. Merchants that support UPI will also be able to accept payments from Paytm Payments Bank customers via […]

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Private investment to lead economic growth in India: World Bank

New Delhi: Though private investment growth in India will remain challenging in the short term, it will eventually pick up in 2018-19 to overtake private consumption as the main driver of economic growth, the World Bank said in its latest India Economic Update released on Monday. The gross fixed capital formation (GFCF) which indicates investment […]

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U.S. Bank and Sage Announce AP Optimizer to Streamline Invoice Payments

U.S. Bank (NYSE:USB) and Sage (LON:SGE) announced this week at Sage Summit 2016 in Chicago a new partnership that will benefit Sage customers in the U.S. and Canada. The partnership centers around the introduction of AP Optimizer, an application built by U.S. Bank that lives inside the Sage Live accounting platform. Its purpose, according to Bradley […]

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On return to India, inform bank of changed residential status

iStockPhoto I am 60 plus, and am returning to India after staying in the Gulf for 20 years. I have non-resident external (NRE) and foreign currency non-residential (FCNR) deposits, which mature at different times up to 2020. Considering that my status after return is resident not ordinarily resident (RONR) during the first 2 years (minimum), […]

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