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.
The Bombay high court has granted time to the Reserve Bank of India (RBI) and market regulator Securities and Exchange Board of India (Sebi) to file responses in a petition filed by individual holders of Yes Bank AT1 bonds.
The Reserve Bank of India likely sold a net $1.8 billion in the two weeks ended April 10. That follows likely sales of $7.7 billion in the spot forex market last month, which made the authority a net seller for the first time in seven months.
Gold ETFs and Funds
Mutual funds offer exchange-traded funds (ETFs) that invest primarily in physical gold with each ETF unit typically representing 1gm of gold. The equivalent physical gold is held with the custodian bank and valued periodically, as per the Securties and Exchange Board of India’s (Sebi) guidelines. The performance of a gold ETF is benchmarked against the domestic price. Ideally, the returns from the scheme should match that of the benchmark.
Gold Silver Reports (GSR) – The need to have a diversified foreign currency and asset reserve will keep the Reserve Bank gold deposits glittering, opined economists and industry watchers.
GoldSilverReports.com — RBI Repo Rate Cut – The Reserve Bank of India (RBI) today cut its repo rate, or the rate at which it lends to banks, by 25 basis points to 6%.