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Tag Archives: crisis

Banks plunge into fresh crisis – Bulawayo24 News

THE Reserve Bank of Zimbabwe (RBZ) shot down an urgent request by commercial banks to raise interest rates and transaction charges at a crisis meeting held in Harare last week, arguing the move would trigger inflationary pressures, the Zimbabwe Independent can report. In the face of rapidly rising costs after bank workers demanded and won a 42% hardship allowance to ...

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Economist fingers banking crisis for cedi fall

Economist, Dr Lord Mensah, has cited the banking sector challenges that culminated in the liquidation of some banks as a factor in the cedi’s current depreciation. He explained that the collapse of seven banks within a two-year period has shaken the confidence depositors who are now resorting to the use of foreign currencies like the dollar as a store of value. ...

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Banks lend over Rs 20,000 crore to NBFCs since the crisis hit the sector following IL&FS default

When mutual funds turn fair weather friends, banks provide the helping hand. Banks lending to Non – Banking Finance Companies rose 4.4 percent in the December quarter to Rs. 24,200 crores when mutual funds slammed the doors on them after Infrastructure Leasing & Financial Services Ltd. defaulted on bond payments. This growth compares with a shrinking of 4.7 percent in ...

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