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FS Daily Bytes: 15th June

India

  1. Close on the heels of SBI QIP, Axis Bank board approves 5000 crore INR capital raise through private placement of bonds. Such capital raise has become necessary due to Basel III norms which are set to be fully implementable by Mar-2019
  2. As per NPCI; Rupay credit card expected to be launched in a month
  3. Recent data indicates that AEPS (Aadhar Enabled Payment System) has still to cross many a mile as only 25 million have access to AEPS from the 480 million who had linked Aadhar to their bank accounts
  4. Universal Sompo launches new two-wheeler policies
  5. Moody considers the home loan rate cut as negative for banks as RBI has reduced capital requirement for certain categories of home loans

 

International

  1. Bank of America set to lay off more employees
  2. Bain & Blackrock expand their Asia private lending business
  3. A new class action suit against Wells Fargo alleges that the company’s mortgage business put through unauthorized changes to certain home loans (bankruptcy customers) without customer knowledge
  4. Federal Reserve terminated a 2010 directive which enforced Bank of America to submit quarterly report on risk management status

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