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Digital Bank + DeFi may become a pivot point levering traditional finance

SILICON VALLEY, Calif., Oct. 10, 2020 /PRNewswire/ — The release of digital currencies by the People’s Bank of China may cultivate users’ habit of using personal digital encrypted wallets, which will promote the popularization of block chain digital assets and Defi to a certain degree. Therefore, the GSR Matrix Fund invited Ender Xu (GSR Matrix Fund Managing partner), Bertie (Jackdaw Capital  CEO), and Edge Wang(blockchain technology and financial technology expert) to discuss whether the point of integrating traditional and digital finance is dawning.

Abstract

  • Almost all financial services, such as stock transactions, derivatives, mortgages and loans, that only involve the transaction level of the industry, have corresponding plans from DeFi. Its transparency and feature of permissionless may in fact make the regulatory authorities more reassured, so will the users be, who invest with their money, as assets are locked through smart contracts, greatly reducing the likelihood of moral
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SBI Vs HDFC Vs ICICI Vs Axis Bank: Top 10 banks currently offering personal loans starting at 8.9%

Borrowers must carefully gauge their options and go for a loan that best meets their requirements.

Personal loans come to the urgent rescue of the cash-strapped and help fulfill critical financial goals. These open-ended, unsecured financing facilities could be slightly pricier than the best secured loan offers, but they are still ideal for those who don’t possess or don’t want to pledge the necessary collateral to get a loan against securities such as gold, property, mutual fund investments, fixed deposits, endowment plans, car, etc.

In addition, personal loans are also the preferred financing tool for those whose loan requirement is bigger than the value of their security. If you have a stable income and a good credit score, you can get a personal loan at a rate just slightly higher than, say, a gold loan. In fact, according to the latest research by BankBazaar.com as per data available on September

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Money from bank hacks rarely gets laundered through cryptocurrencies

money-laundering-bank-finance-hacker.png

Image: SWIFT

Despite being considered a cybercrime haven, cryptocurrencies play a very small role in laundering funds obtained from bank hacks; the SWIFT financial organization said in a report last week.

“Identified cases of laundering through cryptocurrencies remain relatively small compared to the volumes of cash laundered through traditional methods,” said SWIFT, the organization that runs the SWIFT inter-bank messaging system used by almost all banks across the world to wire funds across borders.

These traditional methods include the use of money mules, front companies, cash businesses, and investments back into other forms of crime, such as drug trade or human trafficking.

Past cases of cryptocurrency use to launder stolen bank funds

SWIFT saud that incidents where hackers laundered money via cryptocurrencies have been rare and far between.

One example listed in the organization’s report is the case of a criminal gang who performed an ATM cashout attack. SWIFT

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Bank of East Asia to sell life insurance business following strategic review



a sign on the side of a building: Bank of East Asia posted a 53 per cent increase in first half net profit despite a weak economic environment. Photo: Bloomberg


Bank of East Asia posted a 53 per cent increase in first half net profit despite a weak economic environment. Photo: Bloomberg

The Bank of East Asia (BEA) said it would sell its life insurance business and seek potential partnerships to grow its core business following a months-long strategic review prompted by a long-running shareholder battle with Paul Singer’s Elliott Management over the lender’s direction.

Hong Kong’s largest independent and family-run bank said the sale of BEA Life would enhance the value of its business, improve the lender’s financial position and enable management to focus on its core banking operations in Hong Kong and mainland China.

As part of the sale process, the 101-year-old lender said it would seek to enter into a long-term exclusive distribution agreement to sell insurance products through its banking platform.

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After HDFC and ICICI Bank, the People’s Bank of China now invests in Bajaj Finance



a sign on the side of a building: After HDFC and ICICI Bank, the People's Bank of China now invests in Bajaj Finance


© India Today Group
After HDFC and ICICI Bank, the People’s Bank of China now invests in Bajaj Finance

KEY HIGHLIGHTS

  • This is the third investment by the Chinese Central Bank in the financial services company in India.
  • In March this year, the People’s Bank of China increased its stake in the HDFC Ltd to over 1 per cent.
  • There is no bar on Chinese portfolio investment in India, but relations between the two countries have worsened in last six months.
  • Expert suggest that it makes a good sense for Chinese Central Bank, which is flush with funds, to diversify part of its war chest in countries like India

After mortgage lender HDFC Ltd and private sector ICICI Bank the People’s Bank of China has now made equity investment in one of India’s largest NBFCs Bajaj Finance. The Chinese Central bank’s investment in mortgage lender HDFC Ltd had created a

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Chinese central bank aims for Bajaj Finance; why Indian banking is in shambles; PM Modi defends farm bills



a screenshot of a social media post: Biz EOD: Chinese central bank aims for Bajaj Finance; why Indian banking is in shambles; PM Modi defends farm bills


© India Today Group
Biz EOD: Chinese central bank aims for Bajaj Finance; why Indian banking is in shambles; PM Modi defends farm bills

After mortgage lender HDFC Ltd and private sector ICICI Bank, the People’s Bank of China has now made equity investment in one of India’s largest NBFCs, Bajaj Finance. In a paper on banking reforms, former RBI Governor Raghuram Rajan and former RBI Deputy Governor Viral Acharya have explained why the Indian banking sector is in shambles currently. Defending the farm bills that were passed in the Rajya Sabha, PM Modi said that it will change the economic conditions of farmers. Read for more top stories from the world of business and economy:

1. After HDFC and ICICI Bank, the People’s Bank of China now invests in Bajaj Finance

Chinese central bank’s investment in Bajaj’s financial services arm is less than 1.0 per cent, and hence not

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Axis Bank, Bharti Airtel, Future Retail, ICICI Bank, IRCON, LIC Housing Finance



a close up of a screen: Stocks in focus: Axis Bank, Bharti Airtel, Future Retail, ICICI Bank, IRCON, LIC Housing Finance


© Provided by The Financial Express
Stocks in focus: Axis Bank, Bharti Airtel, Future Retail, ICICI Bank, IRCON, LIC Housing Finance



ICICI bank, bharti Airtel, stocks in focus


© Provided by The Financial Express
ICICI bank, bharti Airtel, stocks in focus

Nifty futures were trading 22 points or 0.19 per cent up at 11,500 on Singaporean Exchange in early trade, suggesting a flat opening for BSE Sensex and Nifty 50 on Tuesday. Market participants will focus on stock-specific developments, newsflow related to coronavirus, COVID-19 cases and other global cues. Indian share market ended at a six-month high in the previous session, on the back of firm global cues. “We reiterate our positive view on the index and expect Nifty to test 11,600 soon. With no major event, markets will continue to take cues from the global indices. We suggest following the trend while keeping strong risk management in place,” said Ajit Mishra, VP – Research, Religare Broking

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Indian Personal Loan Market Outlook Report 2020-2025, with Key Player Profiles Including IDFC First Bank, HDFC Bank, TATA Capital and SBI Bank

DUBLIN, Aug. 4, 2020 /PRNewswire/ — The “India Personal Loan Market by Source (Bank & Non-Banking Financial Company (NBFC)), by Tenure (Less than 1 Year; 2-3 Year; & 4-5 Years), by Purpose (Home Improvement; Wedding; Travel; & Others), by Interest Rate (10%-15% & 16%-20%), Competition, Forecast & Opportunities, 2025” report has been added to ResearchAndMarkets.com’s offering.

The Indian Personal Loan Market is expected to grow at a formidable rate of around 10% during the forecast period. The increasing gap income and expenditure coupled with rising aspirations, especially among the young population are the key factors driving the Indian Personal Loan Market. Additionally, the size of personal loans is much smaller and easy to access which is further propelling the market. Furthermore, digitisation has resulted in lowering costs, which is anticipated to positively influence the market in the coming years.

The Indian Personal Loan Market is segmented based on source,

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California Infrastructure Economic Development Bank (IBank)

The SBFC helps businesses create and retain jobs, and encourages investment in low- to moderate-income communities. The SBFC has several programs to support small business, including a Disaster Relief Loan Guarantee, a Jump Start Loan Program and more.

California Disaster Relief Loan Guarantee Program — COVID-19

The Small Business Finance Center (SBFC) partners with Financial Development Corporations to provide loan guarantees and direct loans for small businesses that experience capital access barriers.

Who Can Apply

Eligible Applicants

  • Small Businesses located in California with 1-750 employees that have been negatively impacted or experienced disruption by COVID-19
  • Eligible Nonprofits

Guarantee Terms:

  • Guaranteed up to 7 years
  • Guarantees up to 95% of loan
  • Loan interest rates negotiated between lender and borrower
  • Qualifications based on lender criteria

 Loan proceeds to be used for continuance of business including, but not limited to:

  • The funds are meant to help small businesses through this challenging
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