Cyberattack vulnerability in Asia-Pacific’s financial sector is double the global average due to inadequate cybersecurity investments. With the introduction of the “bank.in” domain by the RBI, banks face increased risks during the migration process. Increased phishing attacks and data breaches underscore the need for robust cybersecurity measures.
FCNR(B) hurdle: Singapore holds ground on withholding tax
Given the spread between interest offered on FCNR deposits and interest charged on loans, a 10% WTH on loan interest on tax grossed-up basis would