India
- Reliance Capital to set up independent health insurance company. ED, Anmol Ambani, believes that a younger & more affluent India, prevalence of lifestyle disease and increasing cost of healthcare signifies higher growth potential for this market
- IDBI partners with BCG to revive its fortune. Project Nishchay will primarily help in identifying areas of revenue maximization and cost containment
- Ujjivan with 87 branches and 8% SB interest rate, has been able to mop up 1000 Cr in 7 months of its existence and is targeting for 1500-2000 crore in first year of operation
- SWIFT India got 2 additional shareholders in form of Standard Chartered Bank and Citibank. Earlier it had 9 banks as shareholders, now it will be 11
- The Asian Development Bank has lowered India’s growth forecast to 7 per cent for 2017-18 from its earlier estimate of 7.4 per cent owing to weak private consumption and business investment and muted manufacturing output
- Microsoft CEO, Satya Nadella, spoke of Aadhar rivalling the likes of FB, Windows etc. in terms of the reach. Aadhar has now more than a billion holders
- PSU bank unions are finding the reduced indent for new recruitments by PSU banks worrisome considering the expanding bouquet of services that is provided by bankers to customers
- PM, Modi, revived the Economic Advisory Council to the PM with Bibek Debroy as the head
- Rupeek, a digital lending company offering gold loans, is set to raise about $12 million (about Rs 79 crore) in an early-stage funding round led by Accel India and financial inclusion-focused investment firm Lok Capital,
- Yes Bank claimed that its credit card portfolio now stands at 250 cr INR and a customer base of 2 lakh
Rest of World
- None