Satyam fiasco restores credibility of Public sector banks

Due to the Satyam fiasco, Infosys, a rival company, decided to be extra transparent in its latest quarterly disclosure .

We learn from Infosys that it has Rs 7,419 crore in cash, of which two-thirds is in public sector banks, like State Bank of India, Punjab National Bank, Bank Of Baroda and Syndicate Bank.

SBI alone has more than Rs 2000 crore. An unintended impact of subprime is a renewed belief on the safety of public sector banks.

The great nationwide rush of deposits into public sector banks will help them increase lending to needy sectors.

Even the once reviled concept of priority sector lending is coming back. That’s the euphemism used by many sectors asking for bailouts and subsidised loans.
To read more, please, visit - Economic Crisis & Satyam Saga : Boon or Bane for India

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Dear Raju of Hinjewadi, have you sold out your second flat which you booked as an investment in Pune real estate market?

If not, read these stories of Raju of Hyderabad!

His lust for land seems to have been Ramalinga Raju's undoing.

Hailing from an agricultural family, for whom land was everything, the Satyam chairman went on to create a multi-billion empire in a span of just 20 years. This was a remarkable feat for a first generation entrepreneur but he could not overcome the lure of land. And that that led to the collapse of his empire.
To read more, please, visit - Hindustan Times

Mega land deals did Ramalinga Raju in

According to information pieced together by DNA from sources, Raju told the police that property deals had squeezed all his resources. Like any other realty player, Raju, too, joined hands with friends and relatives tobuy large chunks of real estate. - DNA Money