Tag: Banking
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Payroll Delays on Yom Kippur: Why Israeli Banks Profit This Year
Payroll delays on Yom Kippur: what happens when the holiday collides with payday In Israel, the timing of paid salaries can collide with religious and public holidays. This year, Yom Kippur begins on the evening of October 1, a Friday. For many workers, the September salary was scheduled to land on that day. However, the…
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Why Israeli Banks Profit From Delayed Salaries on Yom Kippur
Introduction: a timing quirk that benefits banks In Israel, the convergence of a major religious holiday and the payroll calendar is revealing an unexpected flank of the banking system’s revenue. When the eve of Yom Kippur falls on October 1, many employees expect their September salaries to be in their accounts that same day. However,…
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Bank Hapoalim Strike Returns: Branches to Close at Noon Over Cuts
Bank Hapoalim strike returns as branches close at noon In a renewed pushback against a sweeping cost-cutting plan, employees at Israel’s Bank Hapoalim are taking to the picket lines again. The union representing bank workers announced that, starting from 12:00 and continuing through the end of the workday, 8,000 staff will participate in strikes that…
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Bank Hapoalim Strike: 8,000 Employees Walk Out Across 180 Branches
Midday Strike Hits Bank Branches Across the Country Employees of a major Israeli bank are going on a targeted work stoppage today, from 12:00 noon until the end of the workday. The action affects 180 branches from the north to the south, including advisory centers and the call center, with about 8,000 workers participating. The…
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RBI Deputy Governor Appointment: Shirish Chandra Murmu Named Deputy Governor
RBI Deputy Governor Appointment: Shirish Chandra Murmu Named Deputy Governor In a move that underscores the government’s ongoing leadership transition at India’s central bank, the Union Cabinet’s Appointments Committee approved the nomination of Shirish Chandra Murmu as Deputy Governor of the Reserve Bank of India (RBI). Murmu is set to assume the post for a…
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UBS May Relocate Headquarters to the United States
Why UBS Is Weighing a Move Rising regulatory pressure and shifts in the global banking environment have fueled rumors that UBS is considering relocating its headquarters to the United States. The core idea would be to move the parent holding company that now governs the bank from Switzerland to the U.S., potentially changing which regulator…
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UBS Considers a US Headquarters Move: Implications for Switzerland
UBS Considers a US Headquarters Move: What Could Change? Rumors are circulating that UBS is weighing relocating its headquarters to the United States. The idea would involve shifting regulatory oversight from the Swiss FINMA to the U.S. Federal Reserve, while the Swiss subsidiary remains protected by structural separation to safeguard savers. The move would not…
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New EU Regulation Excludes Tech Giants from Financial Data Access
Introduction to the New EU Financial Data Regulation After years of negotiations, the European Union is nearing the finalization of the Financial Data Access (FiDA) regulation. This legislation aims to facilitate easier access to financial data for third-party entities, particularly benefiting local banks and financial institutions. Recent reports indicate that major U.S. tech companies, such…
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India’s Goal: Two Public Sector Banks in Global Top 20
Introduction In a significant move to elevate India’s financial standing, the government has set an ambitious target for public sector banks (PSBs). As part of its broader strategy to establish India as a ‘Developed Nation’ by 2047, the aim is to position at least two PSBs among the top 20 global banking institutions. Currently, the…
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India’s Ambition: PSBs in World’s Top 20 by 2047
Introduction India is on an ambitious path to elevate its Public Sector Banks (PSBs) into the top 20 global banking institutions by the year 2047. This vision stems from a commitment to enhancing corporate governance, modernizing operational frameworks, and improving customer experience. The PSB Mandate Conference highlighted these crucial areas over two days dedicated to…