Bank of England calls for Chancellor to urgently “rethink” furlough end date

The Governor of the Bank of England is calling for a review the furlough scheme, amid new coronavirus measures that could be in place for six months. Boss Andrew Bailey…

U.K. banks must do more to fight dirty money, Bank of England’s Sam Woods says

Pedestrians wearing face masks pass the Bank of England in London on March 11, 2020. Matt Dunham/The Associated Press Britain’s banks must make the fight against dirty money a “top…

Bank shares slide on report of rampant money laundering

Shares of JP Morgan tumbled 4.4%. The consortium’s investigation found the documents identify more than $2 trillion in transactions between 1999 and 2017 that were flagged by financial institutions’ internal…

Negative rates haunt Virgin Money, bank investors

Worsening outlook The BoE’s August Monetary Report notes if rates turn negative then deposit-taking institutions probably can’t take deposit rates below zero in response as customers would hoard physical cash.…

Suryoday Small Finance Bank files draft papers with SEBI for IPO

© Akanksha Sarma Suryoday Small Finance Bank files draft papers with SEBI for IPO Suroyaday Small Finance Bank Limited (SSFBL) has filed its Draft Red Herring Prospectus for an  Initial…

Bank FD interest rates are falling. Where should I invest for 1-2 years?

I am 34 years old. I am a teacher by profession. I put my surplus money in bank FDs. Recently, the banks have cut interest rates for one year FDs…