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FS Daily Bytes: 5th June


  1. ICICI Bank board has approved a stake sale of the bank in the General Insurance arm; ICICI Lombard through IPO. Post closure of Fairfax deal (which is selling its stake in Lombard), the bank will own 63.3% of the GI arm
  2. Riding on the digital wave, Aviva Life insurance launches ‘online term plan’ named ‘i-Life-Total’
  3. Finance Minister voiced his opinion for a rate cut to bolster growth & investment but major bank heads are expecting RBI to hold on till the CPI data is released & assess the impact of GST (planned for 1st July rollout)
  4. SBI issues QIP worth INR 11000 cr
  5. A Bank of America Merill Lynch (BofAML) report stated that the GOI Ministry of Finance can infuse $27 billion capital to PSU banks by 2019. This should sooth the nerves of many as banks are bracing up for Basel III norms (higher CRAR by 2019) while NPA condition remains worrying
  6. Pay more for SBI transactions as SBI has revised its charges



  1. Demand for BCT (blockchain technology) seems to have increased significantly far outstripping the supply



Various news feed sourced from our /top-news section

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