- India’s GDP growth slowed down to 5.7% for Apr-Jun quarter in FY1718, against 7.9% in same quarter FY1617. Demonetization, GST and RERA may be the 3 greatest factors pulling down the GDP. Experts believe that performance will be better in next quarter as the effects of these 3 policies will get rationalized
- Paytm Payments banks CEO has confirmed talks with full service banks to offer loans, FDs etc which it is not allowed under regulation to provide directly
- Itzcash has partnered with HDFC Ergo General Insurance where Itz retail shops will offer the latter’s GI products
- Govt extends PAN-Adhaar link deadline to 31st Dec 2017
- Icra in its latest report has outlined FY18 as a challenging year for Indian banks with NPA expected to rise further & economic stress to continue
- Govt rules out new window to accept scrapped 500/ 1000 notes
- FM Arun Jaitely has warned corporate defaulters to pay up their dues or give up control of business to others
- Wells Fargo has now come with a shocker. The fake account scandal seems to have been underreported earlier and current estimate of the banks puts the figure at 3.5 million, up by 70%
- Spain’s BBVA confirmed on Thursday that it is negotiating with Canada’s Bank of Nova Scotia to sell its Chile unit.
- 6 of world largest banks (Barclays, Credit Suisse, Canadian Imperial Bank of commerce, HSBC, MUFG and State Street) have joined together to work on ‘utility settlement coin’ for clearing & settling financial transactions over blockchain. The objective is to bring in more efficiency.