EU Proposes Bank Union to Ease Burden

NEW DELHI: A strong and robust bankruptcy code will give a fillip to the government's reform process for the banking industry as it will help in unlocking the unproductive capital stuck in the economy, Yes Bank head Rana Kapoor has said. "With regard to the banking industry, institutionalising a strong and robust bankruptcy code will provide further support to the government's reform measures by unlocking the unproductive capital stuck in the economy," Rana Kapoor, Managing Director and Chief Executive Officer of Yes Bank told PTI in an interview.

NEW DELHI: Banking as a sector has come under tremendous stress in last one year. Valuations of some of the stocks in both public and private sectors have turned mouth watering. Banking and finance as a sector holds importance, because it has a weightage of more than 30 per cent in the Sensex. The S&P BSE banking index plunged over 20 per cent compared with a 16 per cent fall in the BSE Sensex during the same period.

Some rejig in GST rate structure is required to reduce the burden on small and medium businesses, Revenue Secretary Hasmukh Adhia has said. The Goods and Services Tax (GST), which amalgamates more than a dozen central and state levies like excise duty, service tax and VAT, will take about a year to stabilise, he told PTI. "There is need for some rejig in rates... it is possible that some items in the same chapter are divided.

If there is one 'winner' from last night's terrible events in Paris, it is France's anti-EU, anti-immigration far-right wing Front Nationale party leader Marine Le Pen. Having already ascended to the lead in yet another poll ahead of France's 2017 elections, Le Pen came out swinging this morning call for France to "re-arm itself," stating that radical Islam must be "eradicated" from France.

Greece’s second-largest lender, Piraeus Bank SA (OTCMKTS:BPIRY), has welcomed €2.72 billion ($2.88 billion) in further state aid, sanctioned by the European Union. The release of the funds was approved following significant alterations to the bank’s restructuring plan.

The El Pais Screwdriver Blog openly asks "Are we to Liberate the Euro?" Here is a Mish-modified translation: Today Spain has reached a record number of unemployed. Although we do not like the current state of things, no one seems to know against whom to direct their anger.

We're going to need a bigger acronym.