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IMF chief tells central bankers to not dismiss bitcoin

IMF chief tells central bankers to not dismiss bitcoin

Technology
Christine Lagarde, the head of the International Monetary Fund, has a message for the world's central bankers: Don't be Luddites. Addressing a conference in London on Friday, Lagarde said virtual currencies, which are created and exchanged without the involvement of banks or government, could in time be embraced by countries with unstable currencies or weak domestic institutions. "In many ways, virtual currencies might just give existing currencies and monetary policy a run for their money," she said. "The best response by central bankers is to continue running effective monetary policy, while being open to fresh ideas and new demands, as economies evolve." The most high-profile of these digital currencies is bitcoin, which like others can be converted to cash when deposited into accounts ...
SBI to teach bankers from South East Asian countries

SBI to teach bankers from South East Asian countries

Finance
KOLKATA: State Bank of India is planning to throw open its new banking personnel training institute for employees of other banks in India and other South East Asian countries. The institute will impart leadership training to people in the mid-managemnet level and above with thrust on risk mitigation, banking regulation and technology. The focus will be on action-based and result-oriented research and capacity building, chairman Arundhati Bhattacharya said. Addressing the media after inaugurating the institute she said the economy may rebound in another couple of quarters and banks need recapitalization soon to participate in growth. "Plans are getting off the table with a number of infrastructure projects being tendered out. Growth should come in a quarter or two," Bhattacharya said. ...
Iceland: UK should have been tougher on bankers

Iceland: UK should have been tougher on bankers

Business
The UK should have taken stronger action against bankers involved in the financial crisis, according to the Prime Minister of Iceland - the only country that reacted to the crisis by sending people to prison.In an exclusive interview, Bjarni Benediktsson told Sky News that his own country's actions had helped to "heal" the effects of the crisis.But he said he was surprised other countries, including the UK, had not followed Iceland's example."I think there's frustration, from the outside world, that things were not at least investigated."I'm not saying there was reason to prosecute all of those involved, but I feel that too little was done to investigate possible criminal acts elsewhere.Video:Special Report: Bankers behind bars"I'm surprised at how much of taxpayers' money was used to save...
Noel Edmonds left suicidal after corrupt bankers robbed him of £300million

Noel Edmonds left suicidal after corrupt bankers robbed him of £300million

Entertainment
GETTYDESPAIR: Noel Edmonds was driven to suicide after corrupt bankers stripped his assetsHe claimed their ruthless stripping of assets from his business empire drove him to a suicide attempt.The star was left so depressed by the demands of Halifax Bank of Scotland that he took handfuls of pills and washed them down with a bottle of vodka in 2005.He revealed: “HBOS robbed me of my marriage, my family, my businesses, my long-standing friend and business partner, my income, my investments, my self-respect, my reputation, my privacy, my physical and mental health. It cost me my security, my image rights and collection of classic cars – and very nearly my life.” “Bankers are financial terrorists” Noel EdmondsNoel, 68, has launched a legal bid to reclaim the millions he