In this week's wrapup, we talk about spoofing, online loan apps, bankruptcies, seafood exports and the taper tantrum episode.
But before we get to that, a note on this week's Finshots Markets.
Last week, Tata Elxsi published its results for the third quarter and announced that their net profit jumped 40% when compared to the same period last year. And while this isn’t exactly spectacular news in its own right, it does look pretty impressive considering the stock has been on a remarkable run for the past few years. So we thought we could look at the company and see what’s brewing at Tata Elxsi. You can read the full article here.
Spoofing inside Deutsche Bank
Deutsche Bank was recently implicated in another scandal and they were made to pay $130 million for their misdeeds. A federal court charged them for engaging in something called spoofing. So in a bid to uncomplicate matters and explain this technical trading term, we thought we could look at the mechanics of spoofing and understand why it’s categorized as an illegal activity. You can read more about it here.
The Online Loan Apps Nightmare
India is experiencing an online loan app crisis. Because of which, the RBI announced on Wednesday that they are setting up a working group (WG) on digital lending, who will ultimately go on to suggest specific regulatory measures in the realm of digital lending, among other things. In the meantime, Google is also reviewing hundreds of personal loan apps on playstore. If you want to know more about whole fiasco, read the entire draft here.
A Prepack for Bankruptcies
The IBC infrastructure is being stretched thin. There’s a backlog of cases piling up at the courts and time-bound resolution is still a distant dream. So they need a workaround and one solution that’s being proposed right now is a “pre-pack.” So if you want to know more on how exactly do they plan to do this, read here.
Trouble at Sea
A series of unfortunate events have pushed Indian seafood exporters to the brink. First, there was the Covid induced disruption. And now reports suggest that Indian fishing exports have suffered collateral damage in the ongoing tussle between India and China. To know more about what went wrong and how bad the situation is, read the full story here.
The Taper Tantrum Episode
In an interview with BloombergQuint, Raghuram Rajan, while discussing the global outlook of the economy and the effects of the pandemic on emerging markets, suggested another Taper Tantrum episode might be on its way. But since taper tantrum isn't a word you come across so often, we thought maybe we could simplify it. Link to the full story here.
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That's it from us this week. We will see you on Monday :)