AGP Executive Report
Last update: 4 hours agoBanking Law Update (India): India’s Rajya Sabha passed the Bankers’ Books Evidence Bill, 2026, replacing a British-era law and making digital and virtual banking records admissible in court, with Finance Minister Nirmala Sitharaman saying the framework now matches today’s fintech and payment ecosystem. Corporate Banking Hiring (US): JPMorgan Chase plans to expand Asia-Pacific corporate banking hiring through 2027, citing momentum from AI, data centers and cross-border trade. Loan Write-Offs (India): Parliament was told banks wrote off Rs 9.95 lakh crore in large-industry and services loans over 12 years; the annual write-off fell to Rs 20,485 crore in 2025-26, with officials stressing write-offs are accounting cleanups, not debt cancellation. Digital Wallet Launch (Fiji): Bank South Pacific rolled out BSP eDollar, Fiji’s first bank-backed electronic wallet, enabling QR payments and transfers across participating banks and wallets. Share Buybacks (Europe): ING reported repurchasing 2,000,000 shares under its €1.0bn buyback program, with about 53% of the maximum value completed. Regulation Consultation (New Zealand): The Reserve Bank of New Zealand opened a consultation on a prudential levy covering banks, non-bank deposit takers and insurers, estimated to raise about $209m. Market Watch (Australia): Australian shares were flat as investors awaited the RBA decision, with banks weighing on sentiment. Cyber & Fraud Controls (US): Surfside Beach, after a $545,000 cyber scam, introduced stricter verification and dual-control authorization for outbound municipal transactions. Islamic Banking Awards (Qatar): QIIB won two Global Business Magazine awards for mobile banking experience and product innovation in Islamic finance, highlighting its digital transformation.
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