HDFC Bank became the first lender to increase its fixed deposit rates by up to 75 basis points after RBI raised key short-term rates. With deposit rates going up, the bank may also raise lending rates in the next few weeks, a bank official said.
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Hundreds of investors took to the streets of Taiwan’s capital earlier today, waving banners and throwing eggs at banks. Theyre angry over their losses made by investments linked to Lehman Brothers. These people are some of the many who have lost on their investments linked to the failed US investment bank Lehman Brothers. People who lost money formed a group called the Lehman Brothers Bond self-help union. The group consists of investors who bought Lehman structured products from 24 banks in Taiwan, including Taishin International Bank, Fubon Bank, and China Trust. [Kuo Gong-fen, Shoemaker]: “The bank lied to me and asked me to transfer money from the post office to the First Bank, promising it was risk-free and with a higher interest rate. The financial advisor took my personal signature for a month and signed my name because I don’t have a good education. Usually when we make a purchase we should see the item, but there was nothing. When it was three days until the end of the one-year term, the financial advisor said I only had half the money left. The group targeted twelve banks in the same district. They plan to head to the residence of the head of the Financial Supervisory Commission for a sit-in, demanding government action. [Kuo Chung-shien, Unemployed]: “They cheated us by transferring fixed deposits into a structural note, and said these are principal guaranteed. They cheated, lied to all the Taiwanese people with fixed deposits. For the past half year, all …
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