Author Archives: Loknath Das

Don Dawood in Depression as Only Son Shuns ‘Family Business’ to Become a Maulana

Mafia don and 1993 Mumbai blasts mastermind Dawood Ibrahim Kaskar is reported to be suffering from bouts of depression as his only son had decided to become a maulana instead of joining the “family business”, IANS reported quoting police officials. The don’s third child Moin Nawaz D. Kaskar is 31 years old and said to be a devout Muslim.Moin is ... Read More »

Stocks Off To A Cautious Start, IT Stocks Advance

The stock market made a sedate cautious today as the benchmark Sensex rose marginally, led by buying in realty, IT and healthcare stocks. Positive Asian cues also supported the markets. The 30-share index traded higher by another 45.15 points, or 0.13 per cent, at 33,606.70. Sectoral indices such as technology, IT and realty stocks climbed by up to 0.48 per ... Read More »

Will Banks Survive? Inside Financial Tech’s Disruption of the Way You Fund Your Business

“My six-month-old baby daughter is probably going to open her first bank account, not with an HSBC or a JP Morgan, but rather with a Facebook or Apple.” Financial technology (fintech) aficionado Henri Arslanian believes that in the future, banks will be obsolete. Instead, people will turn exclusively to solutions such as Facebook or Amazon for their financial needs. He ... Read More »

Finally, PayPal Allows Instant Transfers to Bank Accounts

PayPal (NASDAQ:PYPL) users in the U.S. will soon be able to instantly transfer money to their bank accounts and have the cash show up in minutes. This is in contrast to the three to five business days it currently takes the popular payment platform to process funds.  U.S. users will be able to move the money via eligible debit cards ... Read More »

Insurer Aviva India Turns To PSU Banks On Recapitalisation Plan Boost

Aviva Plc’s India life insurance joint venture is raising its exposure to the country’s state-run banks as it bets the government’s $32 billion plan to rescue lenders burdened with record bad loans will boost their prospects. The insurer also likes metals stocks and consumption-driven sectors, especially those that target rural consumers, but would avoid the non-bank finance companies, Prashant Sharma, ... Read More »

Android Pay Coming to Bank of America ATMs

Earlier this year, Bank of America jumped onto the cardless ATM technology bandwagon announcing the introduction of the state-of-the-art ATMs that would allow customers to withdraw or complete other tasks using their smartphones instead of their bank cards. This week, they took that ambition a step further announcing that they would now allow customers to perform those tasks though Android Pay. ... Read More »

India passing through fast formalisation of economy, says Arun Jaitley

Finance minister Arun Jaitley on Friday said India is at present passing through a stage that will in future be recognised as a phase of fast formalisation of the economy. Speaking at a State Bank of India (SBI) event here, he said India is seeing “the replacement of a cash dominated economy with a more formal and digitised economy. One ... Read More »

Singapore to use driverless buses ‘from 2022’

Singapore plans to introduce driverless buses on its public roads by 2022. The government says they will be piloted in three new neighbourhoods which will have less-crowded roads designed to accommodate the buses. The buses will be used to help residents travel in their communities, and to nearby train and bus stations. Densely-populated Singapore hopes driverless technology will help the ... Read More »

Manus Island: Police enter former Australia-run asylum centre

Police in Papua New Guinea (PNG) have entered a former Australian-run detention centre in a bid to get asylum seekers who remain there to leave. Hundreds of men have refused to leave the Manus Island centre since it was closed on 31 October, citing fears for their safety in the local community. On Thursday, men inside the camp said that ... Read More »

Billionaire Russian lawmaker under investigation in France

A billionaire Russian lawmaker is under formal investigation in France on suspicion of tax evasion. Suleiman Kerimov, one of Russia’s richest men, was arrested late on Monday night in Nice. Russia summoned a French diplomat in Moscow to protest about his detention but he has since been released under strict conditions. “We will apply all efforts, maximum of efforts, to ... Read More »