Credit Suisse Snapped Up By UBS For $3.3 Bn

Even as the global banking system faces one of its most trying times in recent history… with 2 big banks failing in the US and a global Swiss giant being taken over by a sworn rival… the Indian banking system seems to be in a safe place from now. A report by Kotak Institutional Securities says it does not see any material fallout for Indian banks of the recent negative developments for banks in the US and Europe.