Gold Silver Reports (GSR) – “The bank is in the process of shifting most of the large accounts to SIBs,” the state-run lender said in a release today. The bank will create these SIBs across the country as part of its credit restructuring exercise.
Global Economic
Govt Likely to Go Slow on Key Anti-Evasion Measure Under GST
Gold Silver Reports (GSR) – The government is unlikely to insist on implementing the reverse charge mechanism, a key anti-evasion measure proposed under the goods and services-Tax (GST), on concerns that the rule will adversely impact small businesses while not yielding revenue gains.
RBI Expected To Intervene To Prevent Sharp Drop In Rupee
Gold Silver Reports – RBI Expected To Intervene To Prevent Sharp Drop In Rupee (₹) — The focus will undoubtedly be on theRupee (₹) which hit a record low on Thursday, falling past 69 a dollar and set for its worst quarter in five years.
Banks Fraud Reports, Says RBI’s Financial Stability Report
Gold Silver Reports (GSR) – Banks Fraud Reports, Says RBI’s Financial Stability Report — A study of the composition of frauds, showed that the increase in the number of frauds was driven by credit and debit cards along with internet banking. However, in value terms, advances-related frauds contributed most to the total amount involved.
Gold Price Sell-off Deepens Despite Rising Tariff, Trade War Concerns
Gold Silver Reports (GSR) – Gold Price Sell-off Deepens Despite Rising Tariff, Trade War Concerns – Gold prices posted an outside weekly reversal off resistance off yearly open resistance earlier this month with the subsequent decline now approaching a series of parallels which could offer some near-term support. The region of interest is $1255/60. Keep in mind that weekly momentum has fallen to its lowest levels since January 2017 and further highlights the downside risk for bullion.
Investors Agree With Trump: Any Trade War
Gold Silver Reports (GSR) – That’s the early view from financial markets as the tariff dust-up between China and the U.S. shows increasing signs of impacting stock prices. While broad measures of American equities have held up better than their Chinese counterparts, striation within the U.S. market shows investors anticipate steep losses in some stalwart names.
Donald Trump Misguided Trade War
Gold Silver Reports (NBR) – Donald Trump Misguided Trade War — U.S. President Donald Trump may sincerely think he’s battling to win Americans a better deal on trade with China. In fact, he’s making a better deal harder to achieve — and threatening to inflict grave economic damage on the U.S. economy in the process.