Implementation of the new policy and introducing new ₹500 and ₹2,000 bank notes into circulation has put a strain on banks resulting in delays in processing education bank loans for overseas study. The backlog on granting loans affects students who are planning to enrol in an Australian university next month, according to AAERI. According to the association, up to three quarters of students …

The Bank of England said on Thursday it was still likely to cut interest rates to just above zero later this year, even though the initial Brexit hit to Britain’s economy was proving less severe than it had predicted only last month. The BoE’s rate-setters voted unanimously to keep Bank Rate at 0.25 percent, the lowest level in the BoE’s …

HSBC (HSBA.L) announced a $2.5 billion share buy-back and pared ambitions to grow dividend payouts and returns as it took pragmatic steps to soothe investors amid slowing growth in its home markets of Britain and Hong Kong. The lender’s London-listed shares were trading 3.6 percent higher at 0808 GMT (4:08 a.m. ET) after the buy-back took the sting out of …

Britain’s economy is shrinking at its fastest rate since the financial crisis after last month’s Brexit vote, making a Bank of England rate cut on Thursday a “foregone conclusion”, a closely watched survey of businesses showed. Financial data company Markit said its monthly all-sector Purchasing Managers’ Index chalked up the steepest month-on-month decline on record after big falls in activity …