Asia Banking
Reserve Bank of India signals further rate cuts as inflation eases and growth outlook weakens
With inflation in India expected to remain close to target during the current fiscal year, the Reserve Bank of India has room for further monetary easing, members of the Monetary Policy Committee said in the minutes of the April policy meeting.
Singapore eases monetary policy again as growth outlook dims and tariff pressures mount
In its latest policy statement, MAS announced a reduction in the rate of appreciation of the Singapore dollar nominal effective exchange rate policy band, though it will maintain a path of gradual appreciation.
Russia and Indonesia work on direct bank settlement framework to bolster trade
Russia and Indonesia are currently working to establish direct settlement mechanisms between their respective banking institutions.
Bank of Korea expected to lower rates in April despite currency slide
South Korea's central bank is leaning towards reducing interest rates this April, even as the national currency hits its weakest point since 2009.
Bank Indonesia: Rupiah slide won’t trigger debt or inflation crisis
Bank Indonesia has assured the public that the recent depreciation of the rupiah will not lead to increased debt burdens or inflationary pressures.
PANNIER: China’s big push into Uzbekistan
Wave of projects in energy, mining, factories and construction and water conservation. Critical minerals could be next.
Singapore’s lender OCBC warns of slower loan growth in 2025 after missing profit estimates
Oversea-Chinese Banking Corp, Singapore’s second-largest lender, has forecast a slowdown in loan growth for 2025 following a weaker-than-expected rise in fourth-quarter earnings.
Hacker targets Indonesian banks with ransomware threats
Bjorka, the hacker who previously made headlines in Indonesia during 2022 and 2023, has resurfaced, now using an X account to warn that several major Indonesian private and state-owned banks are potential targets of ransomware attacks
Russia’s Mir cards remain an open question in India
Indian Ambassador to Russia Vinay Kumar has expressed optimism about Indian financial institutions adopting Moscow’s Mir payments system and Russian banks adopting New Delhi’s RuPay payments system