AGP Executive Report
Last update: 3 hours agoRBI & PSU funding push: Finance Minister Nirmala Sitharaman urged state-owned banks to step up NRI foreign-currency deposit mobilisation as rupee pressure from West Asia tensions continues, with the RBI also backing hedging costs to attract longer-tenor FCNR(B) inflows. Customer grievance focus: The RBI’s third annual Internal Ombudsmen conference pushed banks and NBFCs to speed up and improve complaint resolution, using IO insights to fix root causes and prevent repeat issues. Regulatory simplification: RBI proposed a one-time approval for mutual funds, insurers and pension funds to buy bank stakes, aiming to cut repeat paperwork and support steadier investment into banks. Stablecoin policy fight (US): Major US banking groups again urged Senate changes to the CLARITY Act to close “interest-like” stablecoin reward loopholes that could trigger deposit flight. Digital onboarding & payments: Vikar Technologies partnered with Plaid to embed account opening and identity checks for community banks and credit unions, while BSP said the Philippines is still on track for its 2028 digital payments goal as banks waive transfer fees. Market backdrop: Wall Street bank earnings surged on trading and dealmaking strength, lifting sentiment even as oil volatility and geopolitics kept pressure on broader markets.
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