Gold Silver Reports (GSR) — Nirav Modi in connection with a money laundering case related to the $2 billion Punjab National Bank loan fraud, officials said.
Money Market
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RBI Widens ICICI Bank Probe after Whistleblower Complaints
Gold Silver Reports (GSR) – RBI Widens ICICI Bank Probe after Whistleblower Complaints — India’s banking regulator initiated a second probe into the affairs of ICICI Bank Ltd for allegedly delaying provisioning for stressed loans and so-called loan evergreening, among other wrongdoings, within days of receiving a whistleblower’s complaints on 20 March and 22 March, a fact that the bank was informed of only in early May.
USD/INR Spot: Above ₹68.05 Sell Karna Mana Hai, We Only Blast
USD/INR Spot: Above ₹68.05 Sell Karna Mana Hai, We Only Blast
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Bonds Headed For Best Week In 11
Gold Silver Reports (GSR) – Bonds Headed For Best Week In 11 — Indian sovereign bonds are headed for their best week in 11 helped by the central bank’s open market operation and the minutes of its last meeting which signaled that future rate hikes will be data dependent.
Money Market Heads Up: Rupee Seen Trading In Range Of 68-68.50
Money Market Heads Up: Rupee Seen Trading In Range Of ₹68-68.50 — The RBI said it will buyback Rs 10,000 crore of debt via open market operations on Thursday – the first such OMO operation after May 17. This may help turn the bearish sentiment and see yields declining.
Indian Stock Market Is Driven By Traders From One City
Gold Silver Reports (GSR) – Indian Stock Market Is Driven By Traders From One City – A record number of Indians now have demat accounts but India remains a traders’ stock market driven by one city: Mumbai.