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India central bank chief Rajan calls for formal financing routes for farmers MUMBAI: Reserve Bank of India Governor Raghuram Rajan called for an urgent expansion of formal financing routes for farmers after a spate of suicides in the country, the Business Standard said on Saturday, citing the Press Trust of India."It is lack of formal financing rather than the excessive burden of informal financing which is the problem. So can we move formal financing to every area of the country," Rajan was quoted as saying.Prime Minister Narendra Modi's government has delayed a bill that will make it easier for industry to buy farmland, following anger over rising rural distress and the suicide of a farmer in India's capital.- Copyright Reuters, 2015 ...

HSBC expects progress this year on resolving past conduct issues LONDON: British bank HSBC said it expects to make progress on resolving past conduct issues this year. "As recent events have shown, there are a number of legacy issues left to resolve. We will make further progress on these in 2015," Chief Executive Stuart Gulliver told investors at the annual meeting in London. Gulliver also said the costs of operating a global business model had increased significantly in recent years, which had required the bank ...
HSBC bank launches review on whether to keep HQ in UK LONDON: Global banking giant HSBC on Friday said it had launched a review on whether to remain headquartered in Britain as the country tightens regulation of the sector.In a surprise announcement less than two weeks before Britain's general election, the Asia-focused bank again highlighted its concern about government policy to ring fence British banks' retail operations to protect them from their investment divisions. The board has "asked management to commence work to look at where ...
China opens bank card clearing sector to foreign firms BEIJING: China has announced plans that will allow giants such as Visa and MasterCard to set up credit card clearing services in the country, breaking the monopoly in a multi-trillion-dollar market foreign firms have been trying to tap for decades.In its latest move to further open up the world's number two economy, the State Council, China's cabinet, said Wednesday it will take applications from June 1 for a licence to run the business.The announcement comes ...
Deutsche Bank expects supervisor queries into media leaks FRANKFURT: Deutsche Bank is preparing for an investigation by regulator Bafin into the source of information in the media about its ongoing strategic discussions, it said on Wednesday. Deutsche, Germany's flagship bank, said it was preparing to begin its own audit in anticipation of queries by Bafin into how details of internal and private discussions appeared in the press. Deutsche launched a strategic review in December that is expected to result in the sale of ...
Turkish central bank leaves rates on hold as election looms ISTANBUL: Turkey's central bank left key interest rates unchanged on Wednesday, holding fire ahead of a June parliamentary election, even as the lira's slide to record lows risks fuelling inflation.The CBRT did, however, use other policy tools -- hiking what it pays on lira reserves and cutting the cost of borrowing dollars -- in an attempt to shore up the battered currency. Economists said that such "tinkering" with monetary policy highlighted the difficult position faced ...
ECB's balance sheet shrinks slightly in week to April 17 FRANKFURT: The combined balance sheet of the European Central Bank and the euro zone's 19 national central banks fell by 4.9 billion euros to 2.344 trillion euros ($2.5 trillion) in the week to April 17, the ECB said on Tuesday. The ECB is rolling out scheme to buy government bonds and other assets known as "quantitative easing" to pump a trillion euros into the economy in order to lift inflation towards its target of just ...


Index Closing Chg%
Arrow DJIA 18,080.14 0.12
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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln