Gold Silver Reports → India’s central bank Governor Raghuram Rajan on Thursday allayed fears about the health of the global banking system, saying lenders are in a good position and well-capitalized to weather the current turmoil in the world economy.
He said at a banking conference that the Reserve Bank of India will, however, pay attention to any money flowing out of the local branches of foreign banks. While there are some concerns about new bad loans from the oil and gas industry and the vulnerability of companies exposed to a slowing China, the RBI will closely watch the unfolding of events. → Neal Bhai Reports