Day July 30, 2020

1MDB scandal

• Malaysia’s former leader Najib Razak was found guilty of corruption and sentenced to 12 years in jail in the first trial over a multi-billion-dollar scandal at state fund 1MDB. About: • 1Malaysia Development Berhad (1MDB) is an insolvent Malaysian…

Bad Bank

• The banking sector, led by the Indian Banks Association (IBA), had recently submitted a proposal for setting up a bad bank to the finance ministry and the RBI. About: • A bad bank is a bank set up by…