Custodia and Vantage Bank have proposed a novel token that functions as a bank deposit within a consortium and a stablecoin when transferred externally. The system, running on Ethereum since March, aims to support tokenized payments without moving customer deposits outside the banking system.
DeFi's growth is shifting from on-chain user acquisition to invisible integration within traditional finance. Despite recent exploits, institutional funding is pouring in, with protocols like Morpho focusing on user-facing applications that mask underlying DeFi complexity.
Funds linked to Indian clients in Swiss banks decreased by over 8% to 3.25 billion Swiss francs in 2025, driven by a decline in funds held through other banks and financial institutions, despite a sharp rise in direct customer deposits.
A written rent agreement, executed on stamp paper, is crucial for legal recourse in tenancy disputes. It must detail rent, security deposit, tenancy duration, occupants, property use, repairs, and alterations. Required documents include proof of ownership, tenant police verification, ID/address proofs for both parties and witnesses, and registration for agreements over 11 months.
The Reserve Bank of India has temporarily removed interest rate restrictions on NRE and FCNR(B) deposits until September 30, 2026, to attract foreign currency inflows. This allows banks to offer higher rates on these deposits for Non-Resident Indians.
Recurring Deposits (RDs) offer a secure way to build savings through fixed monthly investments in banks or post offices. Post offices provide a 6.7% interest rate for a five-year tenure, while banks offer competitive rates. Maturity amounts vary based on investment and tenure, with RD returns being taxable.
South Korea's M2 money supply increased by 0.6% in April to an average of 4,153.9 trillion won, driven by rising short-term deposits and funds awaiting investment amid a stock market rally, according to the Bank of Korea.
The Indian government is covering hedging costs for FCNR(B) deposits until Sept 2026, allowing banks to offer over 7% interest. This enables NRIs to use a rate arbitrage strategy, borrowing against deposits to reinvest and potentially earn significant returns, though risks like fluctuating borrowing costs and foreign taxes remain.
Banks like City Union Bank, Karnataka Bank, and Bank of Baroda are offering attractive interest rates on special 555-day fixed deposit schemes, drawing investor attention for potentially better returns.
Senior citizens can now avail fixed deposit interest rates of up to 8.3% from small finance banks like Unity SFB and Shivalik SFB, offering a lucrative opportunity for savings.
Frederic Priestley, 34, has been sentenced to nearly three years in prison for defrauding over 30 people out of £77,400 through a rental scam on Facebook. He falsely advertised a property, took deposits and rent, but never owned or made the property available. The Metropolitan Police investigated after receiving 34 reports, with Priestley using various excuses to avoid fulfilling agreements.
The Reserve Bank of India (RBI) deputy governor urged bank CEOs to increase efforts in mobilizing overseas funds through FCNR(B) deposits to boost dollar inflows and strengthen forex reserves. This push comes with new RBI incentives to support these deposits, aiming to stabilize the rupee which depreciated significantly last fiscal year.
New data suggests falling house prices in Sydney and Melbourne are concentrated in the upper market segments, potentially assuaging fears for first-time buyers with small deposits who typically purchase in the lower end.
Fears of negative equity for first-time buyers in Sydney and Melbourne are easing as falling house prices are concentrated in the top end of the market. Data shows the cheapest properties have seen modest gains or slight declines, unlike the upper quartiles. Experts suggest low unemployment and low arrears rates mitigate mortgage payment risks, though negative equity can limit options for selling or refinancing.
Binance's tokenized IPO campaign for SpaceX garnered over $557 million in USDC deposits from nearly 27,689 wallets. This indicates strong demand for crypto-based pre-IPO exposure ahead of SpaceX's Nasdaq debut, with futures trading suggesting a valuation potentially exceeding $2 trillion.
India's Supreme Court has ruled that 28% GST will be applied to the full value of player deposits in online gaming, including rummy, fantasy sports, and casinos, resolving a long-standing tax dispute.
SBI Shinsei Bank is launching a campaign offering crypto deposit rewards, providing vouchers redeemable for BTC, ETH, or XRP to incentivize customers amidst rising interest rates and increased competition for household savings in Japan.
Turkey's banking sector experienced a significant increase in total loan volume, reaching 26 trillion lira, while total deposits also rose to 29.6 trillion lira as of June 5. Consumer loans and non-performing loans also saw increases.
Russian President Vladimir Putin has signed a new law allowing the arrest of property, bank deposits, and accounts of citizens residing abroad who commit crimes against Russia's interests, including discrediting the armed forces or inciting hatred.
India's government and RBI introduced measures to attract foreign portfolio investors and non-resident funds into government bonds and bank deposits, including tax exemptions and risk mitigation strategies, leading to a significant rupee gain.
Kraken introduces a non-custodial Bitcoin yield product offering 2.5% yearly yield, supported by Veda, catering to growing investor demand for crypto rewards, with $30M in deposits from 4,000 wallets within 10 hours of launch.
UK Education Secretary Bridget Phillipson has ordered a competition review into hidden childcare charges, including non-refundable deposits and compulsory add-ons, amid concerns parents are facing extra costs despite the government's expansion of funded childcare hours.
NRI bank deposits in India fell by nearly $2 billion in March due to geopolitical uncertainty linked to the Iran war, with withdrawals exceeding fresh deposits, particularly in NRERA and NRO accounts.
Small finance banks in India are offering senior citizens fixed deposit interest rates up to 8% for a three-year term on deposits up to Rs 3 crore. Investors can submit Form 15H to avoid TDS if their total income is below taxable limits.
