The Reserve Bank of India is urging large business groups to consolidate their non-banking finance and investment companies. This move aims to simplify structures for better risk assessment and regulatory oversight. Groups with multiple NBFCs, especially those with overlapping businesses, are being advised to merge entities.
RBI Governor Sanjay Malhotra met bank chief executives, emphasizing that rate cuts and technology adoption should lower costs and boost efficiency for sustainable growth and financial inclusion. He also urged banks to enhance digital fraud safeguards and improve customer service by reducing grievances and strengthening internal systems.
In letters to Mayor Brandon Johnson and Gov. JB Pritzker, Trumps federal transit administrator threatened to withhold funds if the CTA does not increase law enforcement on transit.
The Federal Reserve faces an unusually contentious meeting this week that will test Chair Jerome Powells ability to corral the necessary support from fellow policymakers for a third straight interest rate cut.
