Why The Nirav Modis Are So Common In PSB Banks?    Budget 2018: Why structural reforms may again be given a miss?    Capital First & IDFC Bank to Merge: Deja Vu for Mr. Vaidyanthan

FS Daily Bytes: 13th June

India

  1. RBI issues new 500 Rs banknote with inset letter ‘A’
  2. RBI deliberating on easing the NPA classification period of 90 days to provide some relief for small-medium businesses. Further details awaited
  3. SBI invokes the insolvency code, moves NCLT (National Company Law Tribunal) against a set of big ticket loan defaulters in steel and coal sector
  4. Andhra Bank has put NPA worth 3871 crore for sale. ARCs are expected to bid for it
  5. Indian Bank, a much better performing PSU bank, has got shareholders’ approval for raising equity
  6. In a unique and appreciable effort, Orissa Government has leveraged technology which allows mapping of the banking system in the state. Implemented by the Odisha Space Application Centre (ORSAC), this has already identified 4253 unbanked gram panchayats in Odisha. This can be a big help in addressing financial inclusion effectively
  7. The GOI has initiated a very good step by initiating an assessment of the CSR activities of the PSU banks to understand where it is lacking, usage of unspent CSR funds, effectiveness etc.

International

  1. Bitcoin which topped $3000 earlier, suddenly dropped by 500$ in line with similar drop in share prices of USA technology stocks
  2. 3 UK based foreign currency trader, dubbed ‘Cartel’, has agreed to surrender & face charges in an USA court on allegations of rigging a $3.5 trillion a day foreign exchange market
  3. GE: Immelt checks out while John Flanner takes over as new CEO
  4. Italian banks Banca Popolare di Vicenza and Veneto Banca which have been facing challenges arising out of bad loans now seems to have a rescue at hand. The country’s finance minister confirmed that a solution is close and discussions with EU has been encouraging. It may include some sort of state funded capitalization

Leave a Reply

Name *
Email *
Website