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Allahabad Bank reports $259 million alleged fraud by Bhushan Power & Steel

NEW DELHI – The Allahabad Bank on Saturday became the second Indian state-owned bank to report a major alleged fraud by bankrupt steelmaker Bhushan Power & Steel Ltd this month, adding to concerns about a banking industry burdened with bad debts. Allahabad Bank said in a statement that […]

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Facebook’s Libra currency under fire

Facebook’s planned virtual unit Libra, already under heavy attack from US President Donald Trump and global regulators, faces scepticism among the wider cryptocurrency community as well. One theme — besides Brexit — dominated discussion among the movers and shakers from London’s financial technology or FinTech industry as gathered […]

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