Weekly Roundup – November 21



China cracked down its biggest case of underground banking involving more than 410 billion yuan ($64 billion). More than 170 cases of money laundering and illegal fund transfers were discovered, creating alarm.


Fidelity Investments, through its charitable arm Fidelity Charitable will now accept bitcoin to support charities through its donor advised funds. Fidelity Charitable aims to maximize the ways in which its donors could give more.


At a time when electronic wallets are becoming popular in India, they are also turning out to be a source of worry for banks. Banks are putting spokes for users of these wallet services like Paytm and Oxigen. Is it because many banks are also launching their own wallet systems?


Businesses in India are now relying on data, analytics and more so predictive analytics to stay afloat in today’s competitive environment. An interview with Sriram Rajan, Executive Director – Analytics Business Unit, IBM India & South Asia on this rising trend.


Three state owned companies – Indian Railways Finance Corporation, Housing & Urban Development Corporation and National Highways Authority of India – are selling tax-free bonds that collectively amount to Rs.18,000 Crore. The bonds promise investors attractive long term returns.


The RBI has stated that any individual or company acquiring 5% or more in a private bank through convertible bonds and shares, will need to take prior approval from the regulator.


Bad loans are beginning to worry state-run banks. Led by Bank of India and the State Bank of India, the banks are getting defaulters to pay up.

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Published by

Sudarshan Ranganthan

Breaths Investments, Suggests Wealth Creation Ideas, Lives on Law Of Attraction

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