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FS Daily Bytes: 7th August


  1. IRDAI is working with Govt to develop a simple KYC platform. IRDAI Chairman spoke of simplicity of Aadhar though clearing that it is not must for insurance KYC
  2. GIC Re has filed for IPO. This IPO can be worth more than $ 1 Billion and can provide significant capital raise for the govt.
  3. 22nd August may see nearly a million bank employees going on strike to oppose privatization of public sector banks
  4. The Securities Appellate Tribunal (SAT) today put off the hearing on Sahara Life’s petition against IRDAI’s order to sell its business to ICICI Prudential Life to August 10
  5. Bank of India plans to raise up to Rs. 626 crore through the sale of its stake — fully or partly — in a non-banking finance company STCI Finance Ltd (STCIFL).
  6. More than a million PAN were deactivated by Govt after being identified as duplicates
  7. PNB has deployed biometric attendance system at its branches/ offices to mark & register attendance. The same has been integrated with HRMS



  1. While skeptics of crypto currency consider it as a prime case for another dot com bubble, supporters of bitcoin think it is too early stage and things may turn much better. The discussion was initiated post a general alarm raised by Oaktrees Howard Marks
  2. The Commonwealth Bank of Australia (CBA) on Monday said a software error was behind most of the roughly 53,700 times it allegedly broke anti-money laundering law, in a case that could see the country’s biggest lender fined several billion dollars.
  3. China’s banking regulator has extended by two months a June deadline for banks to submit risk assessments over concerns it was putting strain on the lenders, two sources with direct knowledge of the matter said

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