AGP Executive Report
Last update: 11 hours agoOman CBDC Push: Oman’s central bank is lining up an independent assessor to validate its Central Bank Digital Currency programme, with tenders due June 28—aimed at stress-testing feasibility, governance and implementation risks. RBI Enforcement: The RBI cancelled the licence of Shree Mahalaxmi Urban Co-operative Credit Bank in Karnataka, citing weak capital and earning prospects; depositors are set to be covered largely via DICGC on liquidation. Cross-Border Banking Deal: RBL Bank approved a preferential equity issue worth Rs 26,015 crore to Emirates NBD, with the UAE lender set as a 60% promoter and board changes following. Market & Rates Watch: India’s banking liquidity fell to a fiscal-year low, pushing money market rates higher, while HDFC Bank got RBI approval to extend interim chairman Keki Mistry’s tenure by three months to Sept 18. NRI Deposit Drive: Saraswat Bank launched an FCNR(B) campaign for NRIs, promoting higher foreign-currency deposit returns through Sept 30, 2026. UK Branch Shake-up: Lloyds will close its Soho Road branch in Birmingham, replacing it with a banking hub model as it continues shifting customers toward digital services. Fraud & Security: CBI arrested a suspended IAS officer in a Rs 79.46 crore IDFC First Bank-linked fraud case, while a US court sentenced a bank-impersonation fraudster to three years and restitution of $251,300. Corporate/Finance Tech: Wing Bank rolled out “Jib Jib” and refreshed its app to boost everyday digital banking engagement.
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