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FS Daily Bytes: 4th August

India

1.      Andhra Bank Q1 net up 30% at Rs 40 cr. NPA though saw a rise to 13.3 (GNPA), 8.09 (NNPA)

2.      PNB has launched a onetime settlement scheme for loans up to 5 cr INR.

3.      Bitcoin which split into Bitcoin & Bitcoin cash a few days back. Bitcoin cash plunged 30% on Friday after seeing hectic rise in last few days

4.      Kaushik Basu, the earlier CEA, believes that demonetization was a bad move and may have influenced the stunted GDP figures

5.      Capital market regulator Securities and Exchange Board of India (Sebi) on Friday made it compulsory for listed companies to make a disclosure to stock exchanges if they default on interest or principal payment obligations to banks (BS)

6.      NPCI hit 1 billion transactions volume in July across multiple channels (cheque, ATM Clearing, IMPS, UPI, BHIM, Rupay, POS, ecom etc)

  

International

1.      Wells Fargo in its filing to SEC has reported that its internal review points to significant increase in the identified number of potentially unauthorized accounts. Earlier it had paid penalties for 2 million unauthorized consumer deposit & credit card accounts

2.      A new McKinsey Insight on China put itself as a strong force in digital economy. Read the interesting insight at China’s digital economy: A leading global force.

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