AGP Executive Report
Last update: 4 hours agoBanking Deal Watch: Bank of America agreed to buy up to a 49.9% stake in Jio Financial Services’ lending arm, Jio Credit, for about ₹18,268 crore ($1.9bn), with Jio Financial shares jumping as the JV combines local scale with BofA’s global reach. Central Banking & Regulation: India’s RBI issued tighter rules for loan-recovery agents, banning abusive conduct and threats while requiring notice and proper identification; it also floated draft harmonised interest-rate directions for banks and NBFCs from April 2027. Rates & Liquidity: Mongolia’s central bank lifted its benchmark rate to 12.5% to curb inflation; China’s central bank kept seven-day reverse repo volume at zero while planning overnight operations. Banking Sector Performance: South Africa’s Standard Bank posted record first-half earnings and lifted its dividend; New Zealand’s ASB CEO accepted accountability for major legal setbacks via a pay cut. Fintech & Payments: Polygon joined the Bank of England’s Digital Pound Lab Phase 2 for cross-border settlement tests; Singapore, Hong Kong and Japan are advancing stablecoin payment frameworks. Local Banking Access: A petition in Norfolk, England, targets LINK’s decision not to approve a banking hub in Fakenham, citing cash-access gaps. Governance & Data: Nigeria’s data regulator launched a forensic probe into UNILAG, Lotus Bank and Hackerbella over alleged student data misuse to open accounts.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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