HENCY R SHAH AND ASSOCIATES

  US Banks Collapse: Could the US bank crisis be blessing in disguise for Nifty bulls, OR are we heading back to 2008? A week after Silicon Valley Bank and Signature Bank failed, First Republic Bank is considering a sale following a dramatic 60 percent drop in its stock price over the past week. The bank also received $70 billion in emergency loans from JP Morgan Chase and the Federal Reserve. Eleven of the biggest U.S. banks Thursday announced a $30 billion rescue package for First Republic Bank in an effort to prevent it from becoming the third to fail in less than a week and head off a broader banking crisis. The rescue package brought back memories of the 2008 financial crisis, when banks collectively came to the aid of weaker banks in the early days of the crisis. Banks then bought each other in hurried deals in order to keep the crisis from spreading further. With FIIs pulling out more dollars from India after back-to-back collapse of three US banks, including Signature and...

India’s G20 presidency will be inclusive, decisive, action-oriented India will formally begin its G20 presidency on December 1 and host the next summit in New Delhi in September 2023. India will make the G20 a “catalyst for global change” and its presidency of the group in 2023 will be inclusive and action-oriented. As the G20 presidency was handed over to India by Indonesia, Modi said the country will work for collective action on global challenges such as food and energy security. In an address at the closing session, Modi noted India is taking charge of the G20 at a “time when the world is simultaneously grappling with geopolitical tensions, economic slowdown, rising food and energy prices and the long-term ill-effects of the pandemic”. “Together, we will make the G20 a catalyst for global change,” he added. India’s theme of G-20 chairmanship – ‘One Earth, One Family, One Future’. Modi said India will strive to ensure the G20 “acts as a global prime mover to envision new ideas and a...

  Drinik Malware Now Targets 18 Indian Banks   A new upgraded variant of Drinik Android trojan is targeting 18 Indian banks and stealing personal and bank account information from the victims.  Drinik has been circulating in India and operating as an SMS stealer since 2016,   The new campaign Drinik is impersonating the Income Tax Department of India and targeting potential victims across 18 Indian banks to steal their income tax credentials. The latest variant of the malware, found in August, is being distributed as an APK file (iAssist.apk) that is integrated into the iAssist app for Android. It lures victims to claim an instant tax refund, tricking them into submitting personal details such as full name, Aadhar number, PAN number, and financial information. The phishing scam is targeting 18 Indian banks, including the State Bank of India by abusing Accessibility Service. This way, it obtains the necessary ...

EVOLUTION OF BANKING Financial services keep experiencing a large upheaval as digital transformation is rolled out in the sector at a dramatic rate. By 2030, the ordinary banking experience can be virtually virtual with extra than billion human beings having digital economic group money owed on digital systems. But in most cases, that level of digital transformation remains a chunk in improvement on the equal time as customers continuously adjust to a surprising array of the new digital era which may be being stepped forward through constant innovation, developing new behaviors, and developing their expectations.   For global banks, this creates a series of complex disturbing conditions and opportunities as they calibrate and re-calibrate their digital providing in several regions of the sector, wherein the pace of digital transformation movements at quite precise speeds. Meanwhile the branch networks of retail banks in masses of countrywide markets are shrinking inexorab...