Bloomberg India raised the limits on withdrawals and exchange of old banknotes after the government’s surprise move to ban high-denomination bills on November 8 resulted in customers across the country queuing for hours to deposit the old bills. Banks have received 3 trillion rupees ($44.4 billion) in deposits in the first four days, the finance ministry said in a ...

  Bloomberg Australia should follow India’s lead and scrap its biggest bank notes, UBS Group AG said. “Removing large denomination notes in Australia would be good for the economy and good for the banks,” UBS analysts led by Jonathan Mott said in a note to clients on Monday. Benefits would include reduced crime and welfare fraud, increased tax revenue and ...

  Bloomberg Making money from lending remains a tough task for Japan’s biggest banks. Profit at Mitsubishi UFJ Financial Group Inc. and Mizuho Financial Group Inc. probably fell about 20 percent last quarter as negative interest rates pressured loan income at home and the stronger yen dented earnings abroad, according to analysts surveyed before results due Monday. Sumitomo Mitsui Financial ...