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FS Daily Bytes: 2nd Oct

India

1.       India’s International Financial Services Center at GIFT city (GIFT-IFSC) has ranked 10th in the top 15 emerging global financial centers list in the latest Sep 2017 edition of Global Financial Centers Index 22 (GFCI)- London

2.       Bandhan bank to open 60 more branches over next 6 months which will take its branch tally to 900. It will also recruit 2000 people during the same period

3.       A Morgan Stanley Report predicts India to become fastest growing large economy in next 10 years fueled by digitalization, globalization & reforms

4.       Banks are showering offers on its retail customers for loans as corporate demand plummets under economic slowdown and high NPA

5.       Auditors reviewing & signing bank’s statements will now also have to assess the realizable value of the assets declared to see whether the book value stated makes any sense and if not, then greater provisioning may be required

6.       IIT Madras had launched website (http://aitf.org.in) to seek public opinion on usage of Artificial Intelligence for economic development

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