Bitcoin prices experienced some notable volatility today, dropping below $50,000 following a highly visible tweet from Elon Musk and then recovering.
The Central government has started the process of borrowing with the launch of sovereign gold bonds in consultation with the Reserve Bank of India on Wednesday.
PMC Bank: Eighteen months after the Reserve Bank of India placed Punjab And Maharashtra Cooperative Bank Ltd (PMC Bank). under restrictions, the regulator’s options to resolve the insolvent lender have dwindled.
Gold possession is one of the most revered investments in India. However, having gold beyond a certain limit can be problematic, if you don’t have its invoice.
RBI Bond: The Reserve Bank of India’s pledge to buy as much as 1 trillion rupees ($13.4 billion) of bonds this quarter has sent a wave of relief through the sovereign debt market. However, some say the move may be insufficient in the face of the nation’s near-record borrowing plan.
Indian firms that lend against gold are cutting tenors and seeking more collateral to protect against the plunge in prices of the precious metal.