Asia-Pacific
Banking and finance news from China, Japan, India, Australia, Southeast Asia, and the Pacific
India's forex reserves stand at $682.3 billion, RBI governor says
India's foreign exchange reserves were $682.3 billion as of May 29, 2026, the Reserve Bank of India governor said, adequate to cover about 11 months of imports and 89.1 percent of external debt.
ZA Bank and Industrial Bank launch Southbound Wealth Scheme for GBA investors
ZA Bank said it partnered with Industrial Bank to launch a Cross-boundary Wealth Management Connect Southbound Scheme service, becoming the first Hong Kong digital bank to offer this cross-border option.
Visa India signs Shah Rukh Khan, launches Infinitely More campaign and Visa.co.in platform
Visa India signed film star Shah Rukh Khan and launched Visa.co.in under the Infinitely More campaign, offering curated lifestyle benefits and rewards for eligible cardholders targeting affluent Indian consumers.
Reserve Bank of India keeps repo rate unchanged and maintains neutral stance
The Reserve Bank of India left the repo rate at 5.25 percent and kept a neutral stance, trimming GDP forecast to 6.6 percent and raising retail inflation projection to 5.1 percent.
Airwallex acquires Leapfin to expand financial data automation
Airwallex acquired Leapfin to integrate the startup's financial data automation technology into its platform, and plans to launch new reconciliation, revenue recognition and record-to-report capabilities in the coming months.
India's WeRize secures $7 million in funding led by Sony Innovation Fund
WeRize secured $7 million in a round led by Sony Innovation Fund, with existing investor 3one4 Capital also participating, BusinessLine reported.
Central Bank of India reports recoveries, expects over ₹3,500 crore in FY27
Central Bank of India said it recovered ₹3,307 crore in the year ended March 2026 and expected recoveries to exceed ₹3,500 crore in financial year 2027.
India appoints Neelkanth Mishra as its executive director at the World Bank
Neelkanth Mishra, currently Chief Economist at Axis Bank, was appointed Executive Director at the World Bank for a three-year term.
Hong Kong gazettes banking bill to modernise regulation and ease compliance burden
The Banking Legislation (Miscellaneous Amendments) Bill 2026 covers bank holding companies, skilled-person reviews, enforcement powers and a move to a two-tier banking system, and goes to the Legislative Council on 17 June.
Thunes adds real-time US payouts to its global payments network
Thunes added real-time US payout capabilities, allowing members of its Direct Global Network to send USD into the United States via ACH, Same-Day ACH and real-time payment rails through a single API.
Switzerland appears unfazed as Hong Kong overtakes it in wealth management
Swiss banks reacted calmly after Hong Kong overtook Switzerland in cross-border wealth management, feeling it bolstered the case against looming tighter banking regulations.
Singapore banks and MAS clarify PayNow nickname removal aimed at curbing scams
The Association of Banks in Singapore and the Monetary Authority of Singapore clarified that the removal of PayNow nicknames was intended to prevent impersonation scams, not to broaden compliance or traceability controls.