How to Keep Your Bank from Canceling All Your Accounts
The New York Times: Banking
NOVEMBER 18, 2023
Banks have suddenly shut down the accounts of scores of customers. Here’s how you can avoid becoming one of them.
Banks Should Have Better Customer Relations When Closing an Account
The New York Times: Banking
DECEMBER 30, 2023
When banks close checking and credit-card accounts because of “suspicious activity,” chaos and anxiety ensue. It doesn’t have to be this way.
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Zero Balance Current Account: A Quick Explainer
Razorpay
JANUARY 19, 2024
Powerful current accounts always come with a caveat; a minimum balance requirement. Whether it is a few ten thousand or a few lakhs, most accounts are not zero balance current accounts. Would a zero balance current account really be so beneficial to businesses?
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Why banks are suddenly closing down customer accounts
The New York Times: Banking
NOVEMBER 5, 2023
Surprised individuals and small-business owners can’t pay rent or make payroll, and no one ever explains what they did wrong.
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Synapse Bankruptcy: When a Fintech Isn’t a Bank and Savings Accounts Are Frozen
The New York Times: Banking
JULY 9, 2024
For unsuspecting depositors of online financial start-ups, the unraveling of a little-known intermediary has separated them from their life savings.
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Banks Offer Bonuses for Customers Opening New Accounts
The New York Times: Banking
SEPTEMBER 13, 2024
Facing competition for business, banks are offering incentives to switch. But as one expert put it, “You have to read the fine print.”
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Corporate Accounting: Meaning, Importance & Explanation
Razorpay
JULY 25, 2023
Corporate accounting is a special kind of accounting meant for businesses to record and monitor money movement. Knowing how corporate accounting works and its role in facilitating the growth of a business is important because it plays a fundamental role in the smooth functioning of business financials.
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A Russian Bank Account May Offer Clues to a North Korean Arms Deal
The New York Times: Banking
FEBRUARY 5, 2024
Moscow may be trying to help Pyongyang with access to the international financial system in exchange for missiles and ammunition, U.S.-allied allied intelligence officials suggest.
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Accounting Information System (AIS)
Wall Street Mojo
JANUARY 15, 2024
What Is Accounting Information System? For example, AIS may be a very simple ledger for various accounting, costing, and financial reports like Statement of Profit and Loss, Balance Sheet, etc. Table of contents What Is Accounting Information System?
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Citi Is Sued by New York State Over Account Transfer Fraud
The New York Times: Banking
JANUARY 30, 2024
New York’s attorney general said the bank failed to protect its customers from hackers who, in some cases, stole their life savings and college funds.
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This bank offers an industry-leading savings account yield above 5%
CNBC: Investing
DECEMBER 8, 2023
The Federal Reserve's rate-hiking cycle has been great news for savers hoping to earn a little money on their cash.
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RBI to come out with guidelines regarding fraud account classification
Business Standard - FInance
JUNE 8, 2023
The Reserve Bank will 'shortly' come out with revised guidelines on fraudulent account classification to take into account the recent apex court order that asked lenders to ensure natural justice to a defaulter before labelling him a fraudster.
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Razorpay set to save Indian Exporters $5 Billion, launches MoneySaver Export Account
Razorpay
JULY 25, 2023
But no longer! Introducing Razorpay’s MoneySaver Export Account Razorpay proudly announces the launch of MoneySaver Export Account, an exclusive offering for Indian exporters. MoneySaver Export Account ensures that Indian exporters can offer their global customers a local banking experience, across 200+ countries.
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NatWest to buy most of Sainsbury’s Bank
The Guardian: Mergers & Acquisitions
JUNE 20, 2024
Deal comes after retailer’s strategic review concluded banking operations could distract from core grocery arm Business live – latest updates NatWest has struck a deal to buy most of Sainsbury’s banking business, adding 1m customer accounts in the latest wave of consolidation in the sector. Continue reading.
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Former Wells Fargo Executive Avoids Prison in Sham Accounts Scandal
The New York Times: Banking
SEPTEMBER 15, 2023
Prosecutors had sought a year of incarceration, which they said would be a deterrent to other corporate executives.
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RBI imposes fine on Jammu and Kashmir Bank, Bank of Maharashtra, Axis Bank
Business Standard - FInance
JUNE 23, 2023
The Reserve Bank on Friday said it has imposed a penalty of Rs 2.5 crore on Jammu and Kashmir Bank for non-compliance with certain directions, including one related to 'time-bound implementation and strengthening of SWIFT-related operational controls'. A penalty of Rs 1.45 A penalty of Rs 1.45
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How Founders Can Get Paid (and Keep the Cash): A Practical Guide
JD Supra: Mergers
MAY 8, 2024
What type of entity you form impacts your taxes, which hits your bank account both immediately (quarterly taxes) and in the long term (at exit). Understanding market trends and effective planning strategies can yield improved financial results for start-ups and growth companies. Starting your start-up.
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The Role of Investment Banking Courses in Career Progression
OfficeHours
JUNE 2, 2023
There are a lot of reasons why investment banking courses can be beneficial to a junior employee. Because as a junior in investment banking, this is something that you want to experience. So below, I will go over some of the key benefits that investment banking courses can give you over the course of your career. Best of luck!
Single Entry System of Accounting
Razorpay
DECEMBER 16, 2024
Accounting is the process of recording all financial transactions of a business over its lifetime. There are two major kinds of accounting. In this blog, we will discuss the single entry system of accounting. The single-entry method is the foundation of cash-basis accounting. This is the single entry accounting system.
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Security Deposits: Your Landlord May Owe You More Than You Think
The New York Times: Banking
JUNE 1, 2024
Landlords are required to put security deposits in interest-bearing bank accounts. How much of that interest goes to you?
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RBI permits banks to undertake compromise settlement of wilful defaults
Business Standard - FInance
JUNE 12, 2023
In order to ensure maximum recovery from distressed assets, the Reserve Bank of India has allowed banks to go for compromise settlement of fraud accounts and wilful defaults.
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Technology making up almost a quarter of banks’ overall expenditure as compliance demands mount, finds report
The TRADE
JANUARY 9, 2024
The largest investment banks globally have continually increased investment in technology over the last few years, with technology now accounting for 20% of these banks’ overall expenditure, a Coalition Greenwich report has found. Elsewhere, the report addressed the changing revenues of these banks in recent years.
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06-22-2023 Newsletter: Navigating Layoffs in Investment Banking
OfficeHours
JUNE 22, 2023
Even PE associates are getting let go We’ve had dozens of laid off investment banking analysts and associates reach out to us for how to navigate a tough job market. From Goldman Sachs to Morgan Stanley to Citi and beyond, it seems like even the biggest banks are being impacted by reduced deal flow. Do you want to be a career banker?
When a Bank Rescinds a Job Offer Because It Canceled Your Credit Card
The New York Times: Banking
JUNE 6, 2024
Then it reviewed his account activity. Last year, JPMorgan Chase wanted to pay Mansoor Shams a low-six-figure salary to work in a marketing role.
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10-27-2023 Newsletter: From Investment Banking to Media & Entertainment
OfficeHours
OCTOBER 27, 2023
Transitioning from a career in investment banking to the dynamic world of media may seem like a significant shift. open.spotify.com/show/7aeLSeoDAPHEGZ89UECnmk We are excited to host Rhea Harsoor as she shares her insights and journey from Investment Banking to Media and Entertainment TODAY AT 3PM ET ! How does one go from IB to Media?
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RBI imposes Rs 85 lakh penalty on Central Bank of India for non-compliance
Business Standard - FInance
MAY 26, 2023
lakh on Central Bank of India (the bank) for non-compliance with certain provisions of norms related to frauds classification and reporting. The Reserve Bank had conducted statutory inspection for supervisory evaluation of the bank with reference to its financial position as on March 31, 2021.
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SBI launches 34 Transaction Banking hubs nationwide to drive growth
Business Standard - FInance
JULY 1, 2023
State Bank of India, on Saturday, launched 34 Transaction Banking Hubs at 21 district centres across the country with an aim to provide quick and efficient Transaction Banking solutions to customers.Dinesh Khara, the chairman of the SBI, inaugurated the hubs, on the occasion of the 68th foundation day of the bank.As
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10-11-2023 Newsletter: How to win in Investment Banking? From Analyst to VP
OfficeHours
OCTOBER 11, 2023
We cover topics like private equity, investment banking, switching careers, and how to grow in your job. OfficeHours is an online platform that provides 1-on-1 coaching, training, and advice to help you land a job in competitive finance careers including investment banking, private equity, growth equity, venture capital, and hedge funds.
RBI imposes Rs 2.2 crore penalty on Indian Overseas Bank for non-compliance
Business Standard - FInance
JUNE 2, 2023
Reserve Bank on Friday imposed a penalty of Rs 2.20 crore on state-owned Indian Overseas Bank (IOB) for non-compliance of income recognition and other deficiencies in regulatory compliance. The Chennai-based bank failed to make minimum mandatory transfer of a sum.
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The Collapse of Silicon Valley Bank: The Start of Great Financial Crisis 2.0?
Mergers and Inquisitions
MARCH 13, 2023
In 24 hours, it went from “We’re fine, but we took some losses and need additional capital” to “The FDIC is taking over, the government has guaranteed uninsured deposits, and there might be additional bank runs and a financial crisis or three.” It’s the second-biggest bank failure in U.S. Silicon Valley Bank did not “fail” in 24 hours.
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High-Yield Savings Accounts Are Still a Good Deal
The New York Times: Banking
NOVEMBER 22, 2024
Interest rates have been falling, but deposits are earning more than inflation.
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Does Your Book Move With You To The New Firm?
H. Friedman Search
FEBRUARY 8, 2024
In other words, are these accounts that you inherited when joining this firm, or are they accounts that you brought to the firm? Were they accounts that you had difficulty moving and finally moved, or were they reluctant to move? They most likely are accounts and clients that you have been serving throughout your career.
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Co-op banks to soon be able to do compromise settlements, write-off on NPAs
Business Standard - FInance
JUNE 8, 2023
Reserve Bank Governor Shaktikanta Das on Thursday said cooperative lenders will soon be able to do technical write-offs and execute compromise settlements with defaulting borrowers. Das also said that it is proposed to rationalise the extant prudential norms on restructuring of borrower accounts affected by natural calamities.
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How to add beneficiary without any cooling off period?
Razorpay
JANUARY 17, 2024
With a RazorpayX Business Banking+ Account, you can add beneficiaries and make payouts with no cooling period. Get Your Own Business Banking+ Account! Let’s have a closer look at the steps to add beneficiaries: Login to your net banking portal Log in using your user ID and password. Did you know?
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2023 Joint Report on Multilateral Development Banks' Climate Finance
European Investment Bank
SEPTEMBER 20, 2024
The 2023 Joint Report on Multilateral Development Banks’ Climate Finance provides a comprehensive overview of climate finance commitments by MDBs. Overall, the report aims to promote transparency, accountability, and collaboration in climate finance.
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Sports Investment Banking: How to Win the Super Bowl and the World Cup in the Same Year
Mergers and Inquisitions
DECEMBER 4, 2024
This partially explains why sports investment banking has become a hot field, with JP Morgan and Goldman Sachs launching their own sports coverage groups. For a long time, sports teams and franchises were not worth that much, so banks rarely put their “A-Teams” on these deals. What is Sports Investment Banking?
09-26-2023 Newsletter: From investment banking to PE to Tech: Michael DeMaria’s path from banker to founder — Join us this Friday at noon!
OfficeHours
SEPTEMBER 26, 2023
.” These webinars are packed with valuable insights from industry professionals and experts in the world of Finance – from private equity to investment banking, career transitions, career growth, and a whole lot more! JOIN HERE Webinar Highlights: How did you break into investment banking at Moelis after graduating from UNC?
Transforming a Global Bank’s Customer Contact Centre Operations Through Maveric Systems’ AI-Powered Solution
Global Banking & Finance
JUNE 28, 2024
Transforming a Global Bank’s Customer Contact Centre Operations Through Maveric Systems’ AI-Powered Solution By Kishan Sundar, Senior Vice President, Chief Technology Officer – Key Accounts, Maveric Systems Limited In the competitive banking landscape, customer service quality is a crucial differentiator.
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Why Investment Banking? How to Answer the Most Boring But Persistent Interview Question of All Time
Mergers and Inquisitions
OCTOBER 16, 2024
“Why investment banking?” and there’s now an overwhelming amount of information online about investment banking. I’ll explain these points here and suggest specific answers to “Why investment banking?” but I’ll start with the short version: Table Of Contents Why Investment Banking: The Short Version “Why Investment Banking?”
What to Know About Writing Checks While Preventing Fraud
The New York Times: Banking
JANUARY 7, 2024
Should you keep a separate checking account for writing checks? Is there a specific pen you should use? We answer some reader questions.
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WHY SHOULD WE HAVE ACCOUNT RECEIVABLES AUTOMATION SOFTWARE?
Global Banking & Finance
DECEMBER 6, 2024
Maintaining financial stability is crucial for success, and effective management of account receivables (AR) plays a key role in achieving this. Traditional, manual methods of handling Account Receivables processes are often inefficient, prone to errors, and time-consuming.
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Michael Mufson Discusses Investment Banking and Business Exit Strategies
How2Exit
JUNE 10, 2024
E221: Michael Mufson Discusses Investment Banking and Business Exit Strategies - Watch Here About the Guest(s): Michael Mufson is a seasoned investment banker with a distinguished career spanning over several decades. The accounting is certainly key. He began his career working for a U.S.
Bank of America says this shoe stock is an inflation winner and you should buy it before earnings
CNBC: Investing
MAY 2, 2024
The firm expects Crocs' international business, which accounts for 40% of its total sales, to be "the driver of outsized growth" for the quarter and full year.
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Going to the bank with Rs 2,000 notes? Things you should keep in mind
Business Standard - FInance
JUNE 9, 2023
The I-T department is keeping a close watch on cash transactions that deposit more than Rs 10 lakh in a saving account or more than Rs 50 lakh in current accounts
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