Banks in Mumbai are facing challenges with identifying ultimate beneficial owners (UBOs) of foreign investments due to varying disclosure rules across countries. This issue has been discussed among senior bankers, who believe India’s anti-money laundering laws should adapt to different international standards to ensure compliance and transparency.
Bank Nifty crosses 56,000 to hit record high as RBI rate decision looms
The Nifty Bank index crossed the 56,000 mark for the first time on Tuesday, driven by gains in select lenders ahead of an anticipated RBI
June 3, 2025