Friday, November 19, 2010

Indian Banks - Micro Credit Crisis Jitters

Wow! I just read today's papers (Today and Straits Times), shocked when I saw the Headlines - Indian banks on pins as micro credit sector teeters!

Both ICICI and SBI are the "best paying banks" in Singapore:

1. ICICI offers 1.5% Interest on Fixed Deposit and 0.5% Interest on Savings Accounts.

2. SBI also pays much higher Savings Accounts interest, now 0.55% valid until end December 2010.

TSK, calm down. All deposits are 100% guaranteed by Singapore Government until end December 2010. Ok ok, I shall monitor the situation and wait until near end December 2010 before making a decision.

I wonder what is going to happen from now till December 2010 and next year that would cause a potential "Stock Market Crash"?
Will it happen?

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