“Indians are concerned that a proposed bill, which gives regulators the option to use public deposits to bail out a bank that goes bust, is pushing individuals to hoard cash. The government has repeatedly issued statements to assure the public that their money would be safe. These concerns are heightened by news that emerged in February of a $2 billion fraud at state-run Punjab National Bank, where a jeweler allegedly colluded with a bank employee to siphon off money before leaving the country.”
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Distracted police officers cause hundreds of crashes in metro Denver
German bank starts charging customers to hold their cash
Leaked documents show massive expansion of CIA budget
(Sm)art Investing: Rich Move Assets from Banks to Warehouses
‘Citizen Drone Warfare’: Hobbyist explores a frightening scenario
How the NSA Spies on Smartphones Including the BlackBerry
John Kerry calls Beijing 'provocative' in South China Sea disputes
Dwolla Credit launched as competitor to PayPal's Bill Me Later
One Million Children Labor in Africa's Goldmines
California man is exonerated after 25 years on death row
Airbus patents plane that could fly from Paris to Tokyo in three hours
Robert Parker’s wine ‘bible’ moving to Singapore
Alibaba's Alipay And PayPal Will, And Should, Destroy Physical Banks
Europe’s top central bankers debate the merits of ECB plan to buy bonds to help countries
U.S. Fed's Kocherlakota says interested in bitcoin