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FS Daily Bytes: 22nd Sep

India

1.       Vijaya Bank and Dena Bank eyeing merger and respective board looking at synergies, primarily on geographical reach. Dena bank though is under RBI PCA

2.       Finance Minister indicated that GoI will provide necessary support to banking system to ensure economy is not hit.

3.       Former RBI Guv C. Rangarajan wants GoI to increase capital expenditure to catalyze private investment and also work on recapitalization of the PSB banks to provide more funding to private sector

4.       Chief Economic Advisor, Arvind Subramanian, may get an extension and continue in his current role.

5.       GoI looking at a stimulus of 50,000 cr INR to boost the economy though it may increase the fiscal deficit to 3.7% of GDP from budgeted target of 3.2%

6.       Razorpay adds new suite of payment products as its primary revenue driver MDR (merchant discount rate from debit transactions) continues to remain at low level

7.       GoI is going all out to push/ encourage BHIM & BharatQR payment mode at retail channel to achieve the 25 billion digital transactions by March 2018

Rest of World

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