Page 2 - Swift

Wall Street tumbles as Russia-Ukraine crisis sows fear; Dow falls over 2%

The Nasdaq Composite dropped 1.65% to 13,525.13

What is the SWIFT payment system?

Following Russia's attack on Ukraine, the EU and the US announced measures to block selected Russian banks from the SWIFT payments system. What is SWIFT? Watch this report to know more about it

TMS Ep118: Portfolio rejig, India's defence deals, markets, SWIFT

Should you increase gold, real estate exposure? What does Ukraine crisis mean for India's defence? How did markets react to Ukraine-Russia conflict? What is the SWIFT payment system? All answers here

Banks weigh on Wall Street after new Russia sanctions; Dow falls 440 points

The S&P 500 fell 44.39 points, or 1.01%, to 4,340.26, the Nasdaq Composite slipped 81.87 points, or 0.60%, to 13,612.75

Ruble sinks 26% to 105.27 per dollar after SWIFT sanctions on Russian banks

The Russian currency dropped nearly 26% to 105.27 per dollar, down from about 84 per dollar late Friday

Ukraine crisis: US, European Union cut few Russian banks from SWIFT

Removing banks from SWIFT is deemed to be a severe curb because almost all banks use the system.

Rupee-rouble deal with Russia likely to be fortified after SWIFT freeze

One way to deal with Russia is to reinforce the rupee-rouble account, advised bankers

Ukraine crisis: SWIFT blocking by the West deals a crippling blow to Russia

A decision by Western allies on Saturday to block selected Russian banks from the SWIFT payments system will inflict a crippling economic blow, but also cause much pain to their own companies and bank

Investors brace for volatility as the West moves to ban Russia from SWIFT

Investors were preparing on Saturday for more wild gyrations in asset prices after Western nations announced a harsh set of sanctions to punish Russia for its invasion of Ukraine.

Ukraine crisis: UK leads drive to exclude Russia from SWIFT banking network

Society for Worldwide Interbank Financial Telecommunication is the world's main banking messaging service which links around 11,000 banks and institutions in more than 200 countries, including India

Swift raises $2.2 mn in pre-Series A funding led by Kalaari Capital

Funds will be used to scale engineering efforts and simplify complex business workflows across checkout, payments and fulfilment

Maruti Suzuki hikes prices of Swift, CNG variants of other models

The country's largest carmaker Maruti Suzuki India on Monday said it has hiked prices of hatchback Swift and CNG variants of other models by up to Rs 15,000

Maruti Suzuki's hatchback Swift India's 'best-selling' car model in 2020

Maruti Suzuki India on Saturday said its hatchback Swift has emerged as the best selling car model in India in 2020 with 1,60,700 units. In 2020, the model has also crossed the cumulative sales milestone of 23 lakh units since its launch in 2005. It crossed the 5 lakh milestone in 2010, 10 lakh in 2013 and 15 lakh in 2016, the company said in a statement. Commenting on the milestone, Maruti Suzuki India Executive Director (Marketing & Sales) Shashank Srivastava claimed that "Swift has been the best-selling premium hatchback in the country for the past 15 years with over 2.3 million delighted customers." He further said, "Despite the adverse impact of COVID-19, brand Swift sold over 1,60,700 units in CY 2020, emerging as the top brand in the pecking order." The company said more than 53 per cent of Swift customers are below the age of 35 years, thus establishing the model as "the 'coming of the age' car with its tech-savvy features, value-for-money offerings and sporty design".

Swift completes 15 years with sale of over 2.2 mn units, says Maruti

Launched in 2005, Swift heralded the start of the premium hatchback segment in India and has created a glorious legacy, MSI said in a statement

Shifting generational gears: Swift targets younger car buyers in new ad

Maruti Suzuki drives a purpose-led campaign for its 15-year-old hatchback, hopes to keep its premium positioning with a younger set of car buyers

RBI fines 36 state, private banks for non-compliance in SWIFT operations

The penalties, ranging from Rs 1 crore to Rs 4 crore, were imposed by orders dated January 31, 2019, and February 25, 2019, the RBI said in a statement.

SWIFT planning to start testing multi-bank standard to improve its service

SWIFT's new standard would enable corporate treasurers to initiate and track gpi payments to and from multiple banks in a single format and integrate GPI flows into ERP and Treasury Management Systems

SWIFT was not compromised but misused, says Alain Raes

The issue with customised messages, identified by the suffix of 99, is that they are almost impossible to audit and SWIFT doesn't validate these transactions

State owned banks to link SWIFT with Core Banking Solution by April 30

The state-run banks also decided to speed up the process of taking out "cyber insurance"

SWIFT discloses cyber thefts, pressures banks on security

SWIFT says new cyber-theft attempts (some successful) have surfaced since June, after the attack on Bangladesh central bank