- GoI has formed a committee which will give a structured report on data utility, privacy and availability. Law Minister spoke off today in an event on a data protection law that will be a global benchmark, similar in lines of Aadhar
- Former RBI Gov Raghuram Rajan has 2 suggestions for GoI on improving PSB conditions. First is to close down Department of Financial Services and 2nd is to empower BBB further (hire & fire banks CEOs). He also believes that dual governance should be removed and bank’s board should be in ultimate control
- In a SME summit, SBI Chief, batted for SMEs to raise capital more by equity and lesser by debt. In early stages, higher debt has a significant effect on balance sheet
- Bharat Financial stock went for a rise today on talks of possible acquisition
- SBI associate banks merger is far from smooth at-least from personnel level. There has been voice of discontent on associate banks officers/ clerks not being treated equally as SBI staff.
- IDBI has invited fresh bids for its balance stake in SIDBI, where it owns 13.71%
Rest of World
- Equifax has reported that it detected data breach in July that affected 143 million customers. The issue is now more compounded by Equifax ‘recourse’ proposition for its consumers which smacks off lesser choices for customers. For more, you can click here.