Regional banks in the United States are grappling with financial turmoil, raising existential concerns. Meanwhile, larger banks appear to be capitalizing on this crisis, effortlessly acquiring and merging with struggling smaller banks. By Sanjeev Oak Imagine if such events transpired in India. Suppose a small cooperative bank operating within a
Read MoreBy Sanjeev Oak For the first time since 2011, Fitch Ratings has downgraded the United States’ long-term credit rating from AAA to AA+. This decision has sparked a global debate, drawing sharp criticism from U.S. Treasury Secretary Janet Yellen and skepticism from JP Morgan CEO Jamie Dimon. The downgrade also
Read MoreBy Sanjeev Oak The financial crisis in American banks persists, and First Republic Bank has now succumbed to its impact. Just two months ago, three U.S. banks collapsed within 48 hours, but no substantial lessons were learned by the authorities. This time, First Republic Bank lost $100 billion in deposits
Read MoreBy Sanjeev Oak In 2023, the world witnessed even a global superpower like the United States teeter on the brink of bankruptcy before pulling itself back. The looming government shutdown, threatening millions of jobs, was averted at the last minute. Meanwhile, the Israel-Hamas conflict exposed growing opposition from Arab nations
Read MoreBy Sanjeev Oak The U.S. economy, renowned as a global superpower, is showing clear signs of heading toward a recession. Indicators such as rising unemployment and slowing economic growth have been apparent since last year. Recent data has now confirmed these concerns. Unemployment on the Rise In July, the U.S.
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