Page 12 - Dbs News Today

Singapore News - DBS Bank and Citibank are progressively restoring their banking services, after scores of their customers could not use their online and mobile services on Saturday afternoon. DBS customers were also reportedly unable to use their cards for physical... Read more at www.tnp.sg

A joint report by multilateral development banks (MDBs) published today finds that MDB climate finance reached a new record high in 2022. The announcement comes as delegates meet in Marrakesh, Morocco, for the World Bank (WB) Group and International Monetary Fund Annual Meetings, where scaling up public climate finance, in particular for low and middle-income economies, is one of the items on top of the agenda.

Nary a day goes by without news of someone being scammed. Banks have rolled out a wave of anti-scam measures that may be imperfect but necessary, says Reed Smith lawyer Bryan Tan.

Calls grow for multilateral institutions to embrace culture change, take a more client responsive approach, and become less risk averse.

The Reserve Bank of India (RBI) has decided to maintain the repo rate at 6.5% for the fourth consecutive time. The Monetary Policy Committee (MPC) remains focused on aligning inflation to the 4% target. The RBI may consider open market sales of bonds to manage liquidity conditions. Despite inflation and resilient economic conditions, the MPC has kept its inflation and GDP forecasts unchanged.

DBS says its new digiVault account will take a “digitally in, only physically out” approach, with funds only accessible after identity verification. OCBC and UOB are also set to roll out similar features.

Ajay Banga Interview: World Bank President Ajay Banga, in an interview with Rahul Kanwal, Executive Director of Business Today, talked about how he plans to reform the World Bank, reforming MDBs, debt crisis, achieving SDGs, Indias G20 Presidency, climate finance and more. Watch this Business Today Visual Story to know all about it.

Local bank DBS PayNow's service was down on Tuesday with customers reporting delays in their FAST or PayNow transactions from early in the afternoon. The issues, which come alongside a string of outages this year alone, caused DBS' brand sentiments to plummet.

Both local banks said their new anti-malware security measures do not monitor phone activities, collect or store personal data.

Singapore News - Some DBS customers have experienced delays, among other issues, while using the bank’s PayNow service on Tuesday afternoon. According to Downdetector, which tracks disruptions and issues in various service providers, there were about 163 complaints at 3.53pm on... Read more at www.tnp.sg