Scandal Hit Bank

Facing tough questions from parliamentarians on the Nirav Modi scam and bad loans hitting state-run lenders, RBI Governor Urjit Patel said today that the regulator had limited powers to act against public sector banks like Punjab National Bank (PNB).

HSBC bank said today that the net profits sank 16.5 per cent to $14.03 billion in 2012, hit by US money-laundering fines, mis-selling scandals, rising taxation and a huge accounting charge.

A two-day strike called by all major trade unions began today, hitting banking and public transport services, even as the government prepares to present an austerity budget to Parliament and weather a corruption scandal in a big arms deal.

Britain's Royal Bank of Scotland will pay U.S. and British authorities $612 million and plead guilty to wire fraud in Japan to settle allegations it manipulated global benchmark interest rates. RBS grew from a Scottish bank to become one of the world's largest after a series of takeovers, including the purchase of NatWest in 2000, but it was s...

UK banks are embroiled in two separate mis-selling scandals, and Barclays said on Tuesday it had made an extra provision of 600 million pounds to compensate customers for payment protection insurance.

Facing tough questions from parliamentarians on the Nirav Modi scam and bad loans hitting state-run lenders, RBI Governor Urjit Patel said today that the regulator had limited powers to act against public sector banks like Punjab National Bank (PNB).

HSBC bank said today that the net profits sank 16.5 per cent to $14.03 billion in 2012, hit by US money-laundering fines, mis-selling scandals, rising taxation and a huge accounting charge.

A two-day strike called by all major trade unions began today, hitting banking and public transport services, even as the government prepares to present an austerity budget to Parliament and weather a corruption scandal in a big arms deal.

Britain's Royal Bank of Scotland will pay U.S. and British authorities $612 million and plead guilty to wire fraud in Japan to settle allegations it manipulated global benchmark interest rates. RBS grew from a Scottish bank to become one of the world's largest after a series of takeovers, including the purchase of NatWest in 2000, but it was s...

UK banks are embroiled in two separate mis-selling scandals, and Barclays said on Tuesday it had made an extra provision of 600 million pounds to compensate customers for payment protection insurance.