BLOOMBERG  India’s decision to tax returns from fixed-income mutual funds is set to bolster its lenders’ efforts to lure deposits for financing a resurgent credit growth and boost profits. The nation scrapping tax incentives for some debt mutual funds has paved the way for banks to garner as much as $36 billion in deposits from the asset managers, according to ...

BLOOMBERG  The boss of ClearBank Ltd said clients moved 20% more money through its platform in the week of Silicon Valley Bank’s (SVB) implosion, adding the firm to a cohort of rivals benefiting from the collapse. Charles McManus, chief executive officer (CEO) of the London-based clearing bank, said business has now begun to stabilise after the sudden jump. The firm’s ...

BLOOMBERG  First Citizens BancShares Inc agreed to buy Silicon Valley Bank (SVB), which was seized by regulators following a run on the lender. The bank agreed to take on all deposits and loans, a deal that includes the purchase of about $72 billion SVB assets at a discount of $16.5 billion, according to a statement from the Federal Deposit Insurance ...