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 …