AGP Executive Report
Last update: 11 hours agoRBI Watch: India’s central bank held its repo rate at 5.25% as it waits to see whether oil-driven inflation pressures spread beyond supply-side factors, keeping policy “neutral” for now. Banking Rules: The RBI also moved to harmonise loan interest-rate frameworks across banks and NBFCs, aiming for clearer, comparable pricing for borrowers. Licensing Reset: After a 22-year pause, the RBI is resuming licensing for urban cooperative banks, issuing draft guidelines for “on-tap” entry. BigTech Risk: The IMF warned that BigTech’s deeper push into payments, lending and financial services could raise financial stability risks, urging tighter oversight and coordination. Payments Expansion: Apple Pay officially launched in the Philippines with support from major banks, adding another push toward cashless transactions. Digital Banking: Northern Trust rolled out banking APIs for real-time account and payment connectivity for institutional clients. Deal News: Electronic Arts’ acquisition by Saudi Arabia’s PIF consortium is now complete, with PIF taking a 93.4% stake. Sustainability Scrutiny: A report says banks provided $31bn in sustainability-linked loans to palm oil firms facing deforestation allegations, raising ESG credibility questions.
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