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Non-performing loans represent a major challenge for the banking sector, as they reduce profitability. [1] They are often claimed to prevent banks from lending more to businesses and consumers, which in turn slows economic growth, although this theory is disputed. [2] [3]
Greater autonomy was proposed for the public sector banks in order for them to function with equivalent professionalism as their international counterparts. [11] For this the panel recommended that recruitment procedures, training and remuneration policies of public sector banks be brought in line with the best-market-practices of professional banking systems.
Maidavolu Narasimham (3 June 1927 – 20 April 2021) was an Indian banker who served as the thirteenth governor of the Reserve Bank of India (RBI) from 2 May 1977 to 30 November 1977. [2] For his contributions to the banking and financial sector in India, he is often referred to as the father of banking reforms in India.
The first bank to use the bad bank strategy was Mellon Bank, [1] which created a bad bank entity in 1988 to hold $1.4 billion of bad loans. [4] Initially, the Federal Reserve was reluctant to issue a charter to the new bank, Grant Street National Bank (in liquidation), but Mellon's CEO, Frank Cahouet, persisted and the regulators eventually agreed.
The bank, which raised the most funds for tech companies in Asia outside Japan, estimated at least a 10% increase in fundraising volumes in the technology, media and telecom sector in Asia this ...
Gale Cincotta (December 28, 1929 – August 15, 2001), a community activist from the Austin neighborhood of Chicago, led the national fight for the US federal Home Mortgage Disclosure Act (HMDA) of 1975 and the Community Reinvestment Act (CRA) of 1977. [1]
The Bank Policy Institute (BPI) is an American public policy, research, and advocacy organization, based in Washington, D.C. The organization was formed in July 2018 following the merger of the Financial Services Roundtable and the Clearing House Association .
UK pay after inflation has risen at its fastest rate for more than three years, driven by strong wage growth in the private sector. Pay packets increased on average by 3.4% between September and ...