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FS Daily Bytes: 24th June


  1. Maharashtra farm waiver will cost INR 34000 Cr as per the CMs announcement. This will significantly put more pressure on the Gov other projects as it is already under fiscal deficit
  2. M S Sahoo, Chairman of Insolvency & Bankruptcy Board of India, feels that while 180 days for resolution may look less for now, with system evolving, one may find this too long
  3. RBI releases handbook of statistics on Indian states 2016-17
  4. RBI has made banks responsible for misseling by expanding Ombudsman scheme to include complaints on the same as well


  1. Marc Faber, the editor of “The Gloom, Boom & Doom Report”, is not backing down from his prediction of a ‘Doom’ and expects markets to fall by 40% or more though there may be an increase in near term.
  2. Madison Marriage, deputy editor of FT finance, has expressed her strong reservation for the ‘Financial Choice Act’ that was passed 2 weeks ago by the US House of Representatives. Though it is expected to run into rough weather at Senate, the overall intent of the bill raises an alarm for investors. The bill seems to favor big time the banks & provides lesser control for regulatory supervision/ investor activism. For details refer to FT column https://www.ft.com/content/1f55e9a6-569d-11e7-9fed-c19e2700005f?mhq5j=e2

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