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FS Daily Bytes: 18th Aug


  1. 4 PSB saw change in its Gov nominee directors, all at Joint Secretary level
  2. Govt has raised the allowances for child care for its differently abled female employees. From earlier 1500, it will be now 3000 per month and payable till the child reaches age 2
  3. The Singapore based DBS bank believes that the increase in collection from taxes will boost tax revenue for the government
  4. The deluge at Bangalore has resulted in sudden increase of vehicle insurance claims as many vehicles got submerged or damaged due to sudden rain led flooding
  5. Slowing down of new ATMs by banks is resulting in more customers ending up leveraging other bank’s ATMs


  1. HK & Macau business of MassMutual, one of the oldest life insurers in the US, is up for grabs. Jack Ma founded Yunfeng Financial Group is bidding among others
  2. FT in its column reported that freebies & rewards of credit card holders may be under pressure as ROA of credit cards has dwindled from almost 5% to 3.5% but still the profitability is higher within the retail banking industry (refer FT)

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