State Bank of India (SBI), the country’s biggest lender, plans to overhaul its transaction banking business, which will include involving trade finance and IT platform-based services for liquidity management according to local reports.
It will hire a strategic advisor for restructuring the business, which covers products and services for the government, mid-sized and major corporates.
An SBI official said that the bank plans to respond to the growth of electronic transfers for payments by revamping its processes and product offerings to retain its edge, especially in the highly competitive business segment where private and international banks also have significant presence.
The report came as Indian bank employees, working largely for the country’s dominant state-owned lenders, called off a planned four-day strike after agreeing a 15% wage increase.
The T+2 Industry Steering Committee (T+2 ISC) has welcomed recent action by the Securities and Exchange Commission (SEC) to propose a rule ... read more
The proposals of both US presidential candidates could shake up operating conditions in several sectors, reports the credit ratings agency.
The Danish shipping and oil conglomerate confirmed that it will separate its businesses into stand-alone transport and energy divisions.
The central bank has tweaked its stimulus programme and is making a fresh effort to push Japan’s inflation rate above its 2% target.