At present, SBI offers Yono Global services in 9 countries, starting with the United Kingdom operations in September 2019. In Singapore, SBI is integrating its Yono Global app with PayNow and aims to launch it soon.

Singapore banking: MAS imposes 6-month pause on DBS Bank’s non-essential infotech activities

The Monetary Authority of Singapore has imposed a six-month pause on DBS Bank Ltd’s non-essential information technology changes to ensure that the bank keeps sharp focus on restoring the resilience of its digital banking services.

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.

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.

Wadia Group-owned bankrupt airline Go First may lose major part of its fleet

Indian airline Go First finds itself caught between a rock and a hard place as its attempt to start insolvency proceedings has been complicated by aircraft lessors.

DBS Singapore digital banking disrupted… again; bank cites high traffic volume

Customers of DBS Singapore experienced intermittent outage on May 5, while trying to access digital banking services. This follows the daylong outage experienced by DBS users on March 29.

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.

ICICI Bank veteran Anup Bagchi to take over as MD, CEO of insurance arm

Private sector life insurer ICICI Prudential Life Insurance will see a change of guard as N S Kannan, the current managing director (MD) and chief executive officer (CEO), will superannuate from his services after the completion of his term in June 2023.

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