Why The Nirav Modis Are So Common In PSB Banks?    Budget 2018: Why structural reforms may again be given a miss?    Capital First & IDFC Bank to Merge: Deja Vu for Mr. Vaidyanthan

FS Daily Bytes: 8th August

India

  1. The Department of Financial Services, Ministry of Finance, has set up a committee to resolve the pending issues of bank pensioners and retirees. Demands of the pensioners/retirees include 100 per cent DA neutralisation for pre-2002 retirees; improvement in family pension, medical insurance and a medical benefit scheme; pension updation; second options to compulsorily retired officers and resignees who have put in a pensionable service (thehindubusinessline)
  2. Rush for Aadhar has led to mushrooming of touts who are promising faster card, updates etc at a premium price in direct contravention to UIDAI rules
  3. Commonwealth Bank of Australia on Tuesday scrapped its chief executive’s bonus for damaging the bank’s reputation amid allegations it broke money-laundering and counter-terrorism financing rules, but said he retained the board’s confidence (hindubusinessline)
  4. Axis bank cuts savings accounts interest rates by 50 bps
  5. RBI has instructed banks to ensure safety of customer lockers to ensure that there is no negligence that could render banks liable to claims by locker holders
  6. NCLT has reserved its order on Union Banks insolvency case against Era Infrastructure on the ground of on-going petitions against the later at Delhi high court

International

  1. P2P lending vision of peer to peer lending pushing banks out seems to be a vision drifting away. Latest quarter reports from Lending club shows only 13% of the funds came from consumers while whopping 44% was from banks
  2. WSJ reported that online lending industry seems to have recovered in 2nd quarter but investors hope would have got now rationalized from the earlier lofty hopes

Leave a Reply

Name *
Email *
Website