Tag: bank of america merrill lynch

India's 200-basis-points commercial rates hike last month forced cash-strapped companies to start borrowing at shorter tenors. Those lucky enough to be cash-rich are being offered juicy deposit rates as banks plug their own funding gaps.

Bank of America Merrill Lynch (BoAML) has promoted Nirmal Khaderia to head its Asia-Pacific corporate sales of the global transaction services, a newly-created position.

The US bank has added notional pooling to its global liquidity cash management platform. The project has been in the works since 2009.