The participating financial institutions are DBS Bank, HSBC Bank, OCBC Bank, Standard Chartered Bank, and UOB Bank. They worked with law enforcement, utilising Robotic Process Automation (RPA) technology to identify victims of job, investment, fake friend call, and e-commerce scams.
Tag: Bank
DBS Group announces SGD 3 billion share buyback programme, after posting record net profit in Q3 2024
With less than five months left before the leadership transition at DBS, the group notched up a major achievement, as its third-quarter 2024 net profit crossed SGD 3 billion for the first time — the Q3 net profit rose 15 per cent from a year ago and 8 per cent from the previous quarter to reach SGD 3.03 billion.
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.
2,000-rupee notes being withdrawn by RBI; lifecycle ends on September 30
The 2,000-rupee banknotes are still legal tender, but all of them must be deposited in bank accounts by September 30, 2023, or they can be exchanged with banknotes of other denominations at any bank.
Billions of rupees owed to us frozen due to sanctions, says Russian FM Lavrov
Russian Foreign Minister Sergei Lavrov claimed that his nation has accumulated billions of rupees in Indian banks which it can’t use, due to a combination of a growing trade surplus and economic sanctions on Russian banks.
DBS Singapore told to set aside SGD1.6 billion by MAS after digital banking outage
DBS Singapore, one of the top banks in South Asia, has been ordered by the Monetary Authority of Singapore to make an additional provision to cover any losses following the latest outage in the bank’s digital services.
NRIs remit highest ever USD 107 billion in FY 2022-23: RBI Governor
The Governor of the Reserve Bank of India in a statement announced that inward gross remittances from the NRI for FY 2022–23 had reached a record high of USD 107.5 billion.
India-born Ajay Banga set to become World Bank chief unopposed
Ajay Banga, the US pick to head the World Bank, appears almost certain to become the anti-poverty lender’s next president after nominations closed yesterday with no country publicly proposing an alternative candidate.
Indian startups had USD 1 billion deposits in SVB: Rajeev Chandrashekhar
According to Deputy IT Minister Rajeev Chandrashekhar, Indian startups had deposits worth about USD 1 billion with embattled Silicon Valley Bank and he claimed he had suggested that local banks lend more to them going ahead.
Joint Statement by the Department of the Treasury, Federal Reserve, and FDIC
After receiving a recommendation from the boards of the FDIC and the Federal Reserve, and consulting with the President, Secretary Yellen approved actions enabling the FDIC to complete its resolution of Silicon Valley Bank, Santa Clara, California, in a manner that fully protects all depositors.
