The recent collapse of FTX, a prominent cryptocurrency exchange, has ignited a fervent push within the United States to enhance protections for traders involved in crypto futures.
"The caution on high-cost deposits is a part of the review of the asset liability risk management practices followed by banks," a government official said, adding that it was also pointed out that another challenge for public sector banks is to arrest the decline in current and savings account, or CASA, which has come down to 57% in March 2023 from 64.9% in 2018.
A complaint filed on July 20, 2023 in Minnesota federal court seeks declaratory and injunctive relief under the Administrative Procedures Act (APA) against defendants Federal Deposit.
Chairing a meeting to review the performance of PSBs on various financial health parameters for FY23, the finance minister advised banks to ensure an increase in rural, agriculture and sectoral credit in order to meet PSL norms.