Failure to prevent misconduct by its relationship managers (RMs) has cost Credit Suisse AG S$3.9 million, which was imposed on the bank by the Monetary Authority of Singapore (MAS). The news of the civil penalty was confirmed by an official news release on December 28, 2023. The aforementioned offence took place in the Singapore branch […]

Ravi Menon retiring from Monetary Authority of Singapore after 29 years; Chia Der Jiun to take over as MD

A media release said that as MD, Ravi Menon was the driving force behind MAS’ initiatives to make Singapore’s financial sector more resilient, innovative, and purposeful.

Monetary Authority of Singapore issues SGD10 collectible coins to mark LKY100; 4 million coins minted

MAS announced that the total number of coins minted would meet the demand of 3.3 million coins from the 700,000 applications submitted online by the people of Singapore. The remaining 0.7 million coins would be made available for general exchange later.

MAS recorded largest net loss of SGD 30.8 billion in 2022-23: Ravi Menon

Indian-origin Managing Director of the Monetary Authority of Singapore (MAS) Ravi Menon said the city-state’s central bank has recorded its largest net loss of SGD 30.8 billion (USD 22.8 billion) in 2022-2023.

SGX, NSE to launch platform to trade Nifty products in GIFT City from July 3

The Singapore Exchange (SGX) and India’s National Stock Exchange (NSE) are set to launch the SGX NSE Connect at the Gujarat International Finance Tec-City (GIFT City) from July 3.

RBI, MAS announce plan to link e-payment systems across India, Singapore

Singapore News: The Reserve Bank of India and the Monetary Authority of Singapore announced a project to link their respective fast payment systems. While India uses Unified Payments Interface (UPI) as a fast payment method, Singapore uses the PayNow system.

Singapore commits SGD250 million to drive technology and innovation in fintech sector

Monetary Authority of Singapore (MAS) will commit SGD250 million over the next three years to accelerate technology and innovation-driven growth in the financial sector.

Long term economic recovery from COVID-19 will be weak and gradual: MAS Ravi Menon

While a strong short-term growth bounce from the impact of the VODI-19 pandemic is plausible, the longer term recovery is likely to be weak and gradual, said Ravi Menon, Managing Director, MAS.

MAS concludes multi-currency blockchain project, highlights commercial potential

MAS announced the successful conclusion of the fifth and final phase of Project Ubin, a blockchain-based multi-currency payments network prototype developed in collaboration with J.P. Morgan and Temasek.

About Tag: MAS

MAS News. Read the latest and breaking news headlines and stories on MAS published on Connected to India.