EU fines 6 major banks $2.3 bn for rate-rigging

Last Updated: Wednesday, December 4, 2013, 18:32

The European Union imposed a record 1.7 billion euros (USD 2.3 billion) in fines on six institutions on Wednesday for rigging key interest rates that affect vast sums of money around the world.

RBS offers compensation after new IT glitch

Last Updated: Tuesday, December 3, 2013, 16:40

Royal Bank of Scotland (RBS) said on Tuesday it will compensate customers who lost money owing to a "systems issue" which prevented them from using their payment cards on one of the busiest shopping days of the year.

US investigates Barclays, RBS, Citigroup for currency trade

Last Updated: Friday, November 15, 2013, 18:31

US federal authorities are investigating activities of traders at major global banks suspected of forming cartels and altering the price of foreign currencies, a manipulation dubbed as "just the tip of the iceberg," according to a media report.

Goldman Sachs discloses foreign exchange probe

Last Updated: Thursday, November 7, 2013, 22:13

Goldman Sachs Thursday said its currency trading was being probed by regulators, joining a list of large financial institutions that have disclosed foreign exchange investigations in recent days.

EU to fine banks including RBS, Barclays billions of euros over rate rigging

Last Updated: Thursday, November 7, 2013, 00:10

A number of finance firms, including Royal Bank of Scotland and Rabobank face billions of euros in fines next month from European Union regulators for colluding on global benchmark interest rates, reinforcing Brussels` hard line on the sector after the financial crisis.

RBS bank says to run down £38 bn of high-risk assets

Last Updated: Friday, November 1, 2013, 14:13

State-rescued Royal Bank of Scotland announced on Friday plans to create an internal `bad bank` to run down £38 billion of high-risk assets and accelerate its return to the private sector.

Comfortable with current level of Inflation, says Rajan

Last Updated: Tuesday, October 29, 2013, 11:29

Rajan expressed apprehensions that headwinds to growth from domestic constraints continue to pose downside risks.

Raghuram Rajan meets FM ahead of second quarter policy review

Last Updated: Thursday, October 24, 2013, 14:03

"I discussed whole set of issues with the Finance Minister including state of economy," Rajan told reporters after the meeting here.

Ex-RBS banker takes helm at troubled Bank of Cyprus

Last Updated: Wednesday, October 23, 2013, 14:55

Struggling Bank of Cyprus, the island`s largest lender, has appointed ex-Royal Bank of Scotland executive John Patrick Hourican as its chief executive officer.

‘Industry sees 0.25% hike in policy rates on Oct 29’

Last Updated: Tuesday, October 22, 2013, 21:54

An industry poll conducted by RBS India Tuesday said majority participants are expecting RBI Governor Raghuram Rajan to hike the key policy rates by at least 0.25 percent next week when he unveils the second quarter review of Monetary Policy 2013-14.

George Osborne says actively considering RBS bad bank: Report

Last Updated: Saturday, October 19, 2013, 15:33

British finance minister George Osborne said his ministry was actively looking at breaking up the state-backed Royal Bank of Scotland to create a "bad bank" to house its problem loans, the Daily Telegraph newspaper reported on Friday.