“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.”
Related posts:
Taxes on 8,000 French households were greater than 100% of income last year
David Stockman: Banks Too big to Fail, Another Bubble
France’s interior minister says Syria militants pose national security threat
Some Venezuelan Socialists Are Now Pushing for Free-Market Reforms
Political Shifts in Bavaria Could Have Wide Repercussions
Obama gives 83% of export loan guarantees to Boeing
Cyprus Asks Creditors to Help Biggest Bank
Meet the world's first Bitcoin baby
Iran to citizens: avoid U.S. travel due to ‘targeted Iranophobia’
IMF to Germany: “Fiscal over-performance should be firmly avoided"
Water rationing, tax and rate hikes add to woes of Puerto Ricans
Quicken Loans founder: Detroit bankruptcy a 'step toward a better and brighter tomorrow'
New Security Device Put To Use In Edmond Schools
AB InBev's Mega Bonds Just the Start of a Corporate-Debt Deluge
EU seeks 'ban on all currently available e-cigarettes'