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: 28th August

India:

1.       SEBI has warned the youths not to fall prey to ponzi schemes promising abnormally high returns.

2.       Moody’s investor services have rightly mentioned that PSB merger will not solve weak capitalization of the banks without capital infusion from GoI.

 

International:

1.       Small banks in Germany, cooperative banks, are facing the consequences of ECBs ultra loose monetary policy as banks incomes has been squeezed out making a big dent in profitability.

2.       Burger Kind has ventured now into cryptocurrencies by launching “WhopperCoin” which can be traded in Waves, a rival of Etherium in distributed ledger network. Customers buying their signature sandwich “Whopper sandwich” will be rewarded with this Whoppercoin tokens via digital wallets. Burger King has started this in Russia and one has to wait & watch how well it takes off

3.       Commonwealth Bank of Australia (CBA) is now facing a 2nd probe (a public enquiry by Australian Prudential Regulation Authority) after CBA had been accused of massive breaches of money laundering

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