AFP India’s central bank cut interest rates to a six-year low on Tuesday, as the International Monetary Fund predicted the Asian giant would maintain its position as the world’s fastest-growing major economy. The rate decision was expected to please Narendra Modi’s government who had become frustrated at the pace with which recently-departed Reserve Bank of India chief Raghuram Rajan ...

  Bloomberg Laurentian Bank of Canada, claiming traditional banking is becoming “obsolete,” will merge 50 branches and eliminate about 300 positions in the next 18 months as part of a restructuring. Laurentian must evolve to meet the changing needs of customers, who have reduced branch visits, the Montreal-based lender said Wednesday in a statement. Increased economic and regulatory hurdles, along ...

  Bloomberg Credit Suisse Group AG is seeking to secure a key banking license in Saudi Arabia as part of plans to expand in the kingdom. The Zurich-based bank, which has a securities and equities business in the country, is in talks with the central bank for an onshore license, Iqbal Khan, head of the bank’s international wealth-management business, said ...