The ambitious 700 Billion Dollar
Bailout package was supposed to be the answer. American Politicians sat through
the night and went through every single line of this proposed plan in an effort
to save the lending arm of our financial system: The Banks. They went ahead and announced that they had reached a
plan that would allow the money to flow into the US Markets and trickle on to
the rest of the world. Strategically announced before the Australian markets opened,
it was supposed to bring back a certain amount of confidence. This certainly
didn’t happen because markets across the board were hammered today leaving many
scratching their heads. Our Sensex was one of the biggest losers.
In conjunction with www.compete.com, The India Street has compiled the online statistics for India’s top Banks. In terms of Online usage in visits, ICICI Bank clearly leads the pack while Citibank is close behind. Noticeably, State Bank of India’s traffic has decreased 21% year over year while ICICI Bank has risen an astounding 76.9% year over year.
Amidst hardening interest rates and rising defaults, it has come into the notice of the India Street that Indian banks are inserting new clauses in their home loan agreements to protect balance sheets.
The ambitious 700 Billion Dollar
Bailout package was supposed to be the answer. American Politicians sat through
the night and went through every single line of this proposed plan in an effort
to save the lending arm of our financial system: The Banks. They went ahead and announced that they had reached a
plan that would allow the money to flow into the US Markets and trickle on to
the rest of the world. Strategically announced before the Australian markets opened,
it was supposed to bring back a certain amount of confidence. This certainly
didn’t happen because markets across the board were hammered today leaving many
scratching their heads. Our Sensex was one of the biggest losers. 