AritraSaha
TF Prestige
Same question... I have some fd with them..🙂..
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Fincare Small Finance Bank to merge with AU Small Finance Bank
- Thread starter Strange
- Start date
dvader
TF Premier
I do. Best interest in sub 5L range. I am worried about their interest rate dilution after the merger rest looks great though. At least now my PIN code will be serviceable by AU Bank and I will be able to get my LTF CC.
Edit: All share deal huh... a lot of good faith from both sides... pretty rare to see in banking these days. The only USP of Fincare is their deep penetration in micro-financing small vendors, and shops. They also focus on financing the tiniest women's endeavors and enterprises.
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fincare is a technologically & security wise sound bank (backend). went to the branch today, staff were still there @8:30pm
Most probably the month end effect. Staff tends to stay till late night on last day of the month to meet their targets. Not taking away their soundness on technology though.
gigachad
TF Premier
AritraSaha
TF Prestige
Probably.
Same thing happened to me in 2020 with i suddenly became PNB customer from UBI..🙂
But not sure which account they will give you..😁
dvader
TF Premier
They might match the accounts as per MAB requirements either way it's a good thing and I suspect more mergers in the next two years. AU seems ambitious and doesn't want to stay a small finance bank. Other SFBs will see this and will try similar routes.
On a separate note Banking all around the world is consolidating.
fear of bankruptcy
NOT bankruptcy
federal bailouts will be there in case of a black swan event
they want to increase profitability and reduce costs when ease of buinsess is getting tougher
AritraSaha
TF Prestige
I have fincare 101 account (0 mab with virtual dc).. have some fd with them..
Should tell the au digital 0 mab account right?...
AritraSaha
TF Prestige
I feel like this fintech startup will try to buy this sfb.. its a easy way to get banking licence for them.. just like what slice did..
not all banks will get bailout. only big banks (Silicon Valley Bank) will (where the rich keep their money).
in this economy, small banks can't sustain & will lose market share & become insignificant.
AritraSaha
TF Prestige
I think he is taking about credit Swiss..🙂
india mein pmc bank ko bhi bailout mila na
ya to merge karenge ya big banks se buyout karwa denge
dvader
TF Premier
If you are referring to the recent Silicon Valley Bank (SVB) going down, the FEDs didn't bailout the bank (why? The lessons learned in 2008, even the extensive lobbying didn't work out).
https://restructuring.ra.kroll.com/svbfg/ : All court documents for their Chapter 11 filing
The US govt is just trying to get the money back to depositors that is all.
All of these are Fu*#ed: All tier equity holders, Tier Bonds, Private investors (unless they cashed out before the crash)
Credit Suisse got bailed out by Swiss regulators in a shotgun wedding cuz they didn't want a Swiss bank to go to external entities.
dvader
TF Premier
I think he extended the meaning of bailout. Bailout specifically means spending taxpayer money. RBI is one of the best regulators when it comes to their ability to reduce exposure to taxpayers. PMC got bailed out by another bank, cuz when you get a banking license you agree to the terms of RBI, one of them is to bailout a fellow bank if and when the need arises. RBI takes note of these, for eg DBS has got a lot of goodwill after their help in bailing out LVB.
AritraSaha
TF Prestige
All cus US used the printer too much during the pandemic...🙃
yes, i was using the term freely.
you were talking in case of black swan event. normally most banks are saved by rbi, but in those scenarios it won't be the case.
and are still doing the same
AritraSaha
TF Prestige
And the whole world have to suffer for freedomland problems🙂
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