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FS Daily Bytes: 8th July

This was 2nd Sat and hence banks / financial markets were closed. Hence less activities as reflected in lesser coverage.

India

  1. Shriram Group Chairman, Ajay Piramal, announced the initiation of formal talks between IDFC & his group for a formal merger. Next 90 days will be exclusive talks to explore the same. For more, read here..
  2. Banks must invest in technology to prove complicity of customers in fraud cases which until now they could avoid compensating customers. The new rules of RBI can lead to greater confidence on digital payments

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