IMF sets 0.05% floor on interest rate on special drawing right

IMF sets 0.05% floor on interest rate on special drawing right

The board also approved changing the rounding convention for calculating the SDR rate to three decimal points from two
ECB set to fail 25 lenders in review, draft document shows

ECB set to fail 25 lenders in review, draft document shows

105 banks are shown passing the review, according to the draft statement
China launches World Bank’s rival AIIB in Asia

China launches World Bank’s rival AIIB in Asia

China’s proposed $50 billion Asian Infrastructure Investment Bank is seen as a challenge to the World Bank and Asian Development Bank
Deutsche Bank braces for €1 billion in US, UK Libor fines

Deutsche Bank braces for €1 billion in US, UK Libor fines

Deutsche Bank has already paid €6.1 billion in the past two and a half years as it attempts to clear a backlog of litigation and investigations
Majority of RBI advisors backed interest rate cut in September meeting

Majority of RBI advisors backed interest rate cut in September meeting

The 4 members in favour of lower interest rates recommended a rate cut of at least 25 basis points
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More From financial services

HDFC Q2 profit rises 7% to Rs1,358 crore
Thu, Oct 23 2014. 01 09 AM

HDFC Q2 profit rises 7% to Rs1,358 crore

Profit in line with analysts estimates
IBA suggests tougher norms for safe cash transport to ATMs
Thu, Oct 23 2014. 12 20 AM

IBA suggests tougher norms for safe cash transport to ATMs

The cash replenishment agencies are unhappy with some of the norms as they increase the firms’ overheads
M&M Financial Services reports 6% drop in profit
Wed, Oct 22 2014. 11 42 PM

M&M Financial Services reports 6% drop in profit

Firm reported total revenue of Rs1,354 crore in Q2 as compared with Rs1,203 crore a year ago
RBI tweaks framework for bad assets, sticks to 31 Mar deadline
Wed, Oct 22 2014. 12 58 PM

RBI tweaks framework for bad assets, sticks to 31 Mar deadline

With the revised guidelines, RBI extended the deadline to 45 days, for loans worth at least Rs500 crore
RBI restructures departments allocated to deputy governors
Wed, Oct 22 2014. 12 43 AM

RBI restructures departments allocated to deputy governors

The focus of some departments has been changed and some new functions introduced
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