The latest minutes of the US Federal Reserve (Fed) monetary policy meeting showed that the central bank was still “patient” on further rate hikes.
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Gold vs FD: How to Choose Auspicious Investment This Diwali
Gold Silver Reports (GSR) – As the biggest Indian fiesta, the festival of lights — Diwali — is round the corner, all the people have been ready with their respective to do lists on the auspicious occasion.
RBI Eases Overseas Borrowing Rules For State-Run Oil Marketing Companies – Gold Silver Reports
The Reserve Bank of India (RBI) on Wednesday allowed state-owned oil marketing companies (OMCs) to raise external commercial borrowings (ECBs) from lenders under the automatic route.
SBI Raises Bulk Deposit Rate by 1 Percentage Point
Gold Silver Reports – State Bank of India (SBI) raised interest rates on bulk deposits by 1 percentage point in certain categories, effective Thursday.
India’s largest lender increased interest rates by 1 percentage point across all maturities for bulk deposits greater than Rs1 crore. It left rates for deposits below Rs1 crore unchanged—these were last reduced by 25 basis points on 1 November.
India’s Banks Need More Than a Bailout
Gold Silver Reports – India has long been faced with a slow-motion bank crisis. In particular, the state-controlled institutions that dominate the sector have a bad-loan ratio that’s almost twice as bad as their private counterparts. At last count, non-performing assets made up more than 10 percent of banks’ advances, and were growing ever faster.
Bank Borrowings Fall off the Map in June Quarter
Gold Silver Reports — Bank Borrowings Fall off the Map in June Quarter — The Reserve Bank of India’s (RBI) annual report contains another nugget of information that shows up the dismal state of the economy in the June quarter. The total flow of funds to the commercial sector declined by Rs27,300 crore during the first quarter of the current fiscal year (FY18), which shows that companies paid off past debt rather than borrow.