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FS Daily Bytes: 15th Sep

India

1.       IndusInd bank has secured 200 M USD from ADB to serve low income women borrowers in rural areas. The focus will be primarily on states which are less developed

2.       Shankar Acharya, former CEA, has asked RBI to step in to stop further appreciation of rupee. This will help the economy on the shorter run as per the ICRIER professor.

3.       BoB has tied up with Amazon to enable market place sellers at Amazon avail micro loans (1-25 lakh) at interest rate between (10.45- 11.5%). It will be as of now offered only on invite only basis

4.       Former RBI Governor, C Rangarajan, wants GoI to consider privatization of most of the PSB banks except a few key ones

Rest of World

1.       BNP Paribas Chairman, Jean Lemeirre, believes that technology is the biggest factor influencing business today and technology will not destroy jobs but change the jobs

2.       Equifax seems to be in grave danger of survival as mounting litigations/ class action suits are being filed on the backdrop of the massive data breach that led to personal information of 143 million Americans getting hacked.

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