US banks and financial groups are pushing back against President Donald Trump’s proposal to cap credit card interest rates at 10 percent, warning it could force millions of households and small businesses out of the credit market. Industry data suggests most card accounts could be closed or restricted under the plan, even as consumer groups argue it could save borrowers billions in interest.


USA: Banks Warn Trump’s 10% Credit Card Rate Cap Could Cut Off Millions | WION

What if the bank you walk into with trust…is actually setting a trap?
From big cities to small towns, millions of indians are realising—
The products one bought to “secure” their future…were never designed for them
On the other hand, it was designed to fatten bank profits.
Here’s how the five big traps of mis-selling drain India’s common man’s savings.

Indian customers trapped in wrong financial products 

UPI Transaction Volume Hits a Record High | WION Business Watch

The transactions volume of India's homegrown fin tech unified payment interface or UPI, hit a new record in August. While UPI transactions value declined slightly, the number of banks live on UPI surged to a fresh high. That is according to data from national payments corporation of India or N.P.C.I.



UPI Transaction Volume Hits a Record High | WION

Local authorities in India are coordinating with civil defence agencies to ensure that mock drills are carried out smoothly all across the country. India news

Mock drills in India: Will it affect daily services?  Here's what all will be closed and open tomorrow

India's atm transactions beyond the free monthly limit will cost more starting this month.

RBI approves hike in atm fees across all banks

U.S. investment banks are bracing for deeper job cuts as economic uncertainty weighs on dealmaking. Banks like Goldman Sachs, Morgan Stanley, JPMorgan, and Bank of America have already started trimming staff, with further layoffs expected if deal activity doesn’t pick up.

US banks tighten costs as economic worries grow

Hong Kong’s interbank liquidity is severely strained as local banks borrowed a record $707 million, the highest amount in over five years. The Hong Kong monetary authority, the city’s de-facto central bank, stepped in to offer temporary cash through its discount window. This surge in borrowing comes as demand for Hong Kong equities has increased significantly. The rally has put pressure on the financial system. The city's funding costs have spiked to a near six-week high of 4. 07%.

Hong Kong banks borrow record $707 mn amid stock surge

The largest U.S. Banks finished the year with impressive results, marking their second-most profitable year in history. Jpmorgan chase led the pack, becoming the first bank in U.S. History to exceed 50 billion dollars in annual profit.

Wall Street Banks Report Second-highest Profits In History | World Business Watch

India’s public sector banks are experiencing their lowest workforce numbers in 13 years, according to new data from the Reserve Bank of India. Back in 2011, these banks employed over 755,000 people, and by the end of 2024, the number had only slightly increased. This sluggish growth is linked to the ongoing mergers among banks, which have slowed down the opening of new branches.

India’s Public Sector Bank Workforce Hits 13-Year Low

India plans to sell stakes in state-owned banks as part of its ongoing economic reforms to boost privatization and efficiency.

India Prepares Bank Stake Sale Amid Reform Push

China's biggest state-owned lenders cut their deposit rates on Friday, their second decrease this year. The latest move is to salvage record-low margins amid reduced profitability.

China's Banks Try To Salvage Record Low Margins

Tensions are escalating in the United Kingdom between banks and tech companies over who should be responsible for compensating victims of online fraud. Watch for more details.

Banks and Tech Clash in UK Over Fraud Costs

Bankruptcy filings in the United States continue to rise, reaching alarming levels in the second quarter of 2024. Data reveals a 9.1% increase in bankruptcies compared to the previous quarter. This trend, which began in 2022, shows no signs of abating.

US Bankruptcy Filings Hit Highest Levels Since 2020

India's banks have a problem — they're losing depositors to the stock market. Millions of Indians have flocked to the stock market thanks to a recent bull run. That pushed bank deposit growth to the lowest in more than a year.

India's stack craze weighing on bank deposits | World Business Watch | WION News

US bank profits are experiencing a significant surge. In the first quarter of 2024, they jumped 79.5 percent to $64.2 billion.

US bank profits surge 79.5% to $64.2 billion in Q1 2024

U.S. Treasury Secretary Janet Yellen has announced that the United States is considering tougher secondary sanctions on banks operating in Russia. Watch in for more details!

Janet Yellen signals potential sanction escalation for banks in Russia

India's Unified Payments Interface or UPI continues to expand and flex its muscles the latest country in line is Namibia. The National Payments Corporation of India has partnered with the Bank of Namibia in a landmark move for financial inclusion. This collaboration marks NPC's first International deployment of the UPI framework following immense success within the country.

Gravitas | India partners with Bank of Namibia to develop UPI-like system

Banks in the United Kingdom may be facing significant losses in the coming years, as the value of their assets is eroded by nature-related stocks such as water scarcity and pollution. A study published by the Green Finance Institute has found that the failure to address such risks could shave about 5% off the value of UK bank portfolios amid a broader 12% economic decline through 2030.

Study: Failure to address risks could cut 5% off UK bank portfolios

Cyber attacks targeting financial institutions are on the rise. This surge has experts worried about potential financial instability. This report looks at the data behind this growing threat and examines what steps can be taken to bolster defences.

Banks exposed with 1 in 5 Cyberattacks targeting financial firms

In response to rising cyber crimes in India, the Indian government and banks have stepped up their efforts to warn citizens about online scams. Indians have been receiving an increased number of warning messages in the form of SMS alerts.

India: Government and banks heighten fraud alerts amid surge in cybercrime

US banks added more net new branches in 2023 for the first time in a decade. Last year banks added 94 net new branches across the US, according to new data released this week by the Federal Deposit Insurance Corporation. That was the first annual period since 2012 they opened more than they closed.

US banks' branches on the rise

The Boston consulting group anticipates a surge in the valuation of global banks. The report suggests a potential $7 trillion increase in combined valuations for global banks within the next five years. This projection comes against a backdrop of widespread pessimism fueled by a significant drop in profitability within the banking sector.

Global banks eye $7 trillion upswing; Bank valuations to soar despite hurdles

Citigroup inc. said it expects to incur as much as $1 billion in severance and reorganization costs this year as it continues the process of eliminating 20,000 roles as part of Chief Executive Officer Jane Fraser’s quest to boost the Wall Street giant’s lagging returns.

Job cuts at Citibank: 20,000 roles to be axed by Wall Street giant

South Korea has imposed record fines totaling $20.3 million on two global investment banks and a local unit for engaging in illicit trading practices, specifically naked short-selling. This speculative practice involves selling shares without obtaining a loan or ensuring the availability of borrowed shares, with the aim of profiting from an anticipated drop in the asset's price.

South Korea hits banks with record fines for short-selling

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