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Gold Silver Reports – 🇮🇳 🇮🇳 🇮🇳 🇮🇳 🇮🇳 Indian State Banks Continue Dropping as Fraud Impact Widens — Shares of India’s government-controlled banks fell on Monday as more lenders disclosed exposure to one of the nation’s biggest frauds.
Gold Silver Reports – PNB-Nirav Modi Fraud : In the hierarchy of high profile banking functions, the trade finance department which deals with buyer’s credit falls closer to the bottom rather than the top. It has been seen as a low-risk, short-term, sometimes mechanical business, built atop an existing client relationship. As such, it flies under the radar.
Gold Silver Reports – Who’s Responsible for the PNB Fraud? — There’s an old saying that goes: “Fool me once, shame on you; fool me twice, shame on me.” That adage, when applied to Indian banking, would probably be: “Fool banks once—oh these things happen; fool them twice—catch a few low-level minions and jail them after a trial lasting twenty five years; fool them for the umpteenth time—allow the fraudster to escape abroad, recapitalise the banks and continue with business as usual.” Contrary to what Abraham Lincoln was supposed to have said, it seems entirely possible to fool all the people all the time.
Gold Silver Reports – PSU Bank – Pharma Stocks Fall – BSE Sensex rose over 100 points on Wednesday against the previous session’s closing. The broader Nifty also gained in the morning hours. Indian government bond prices and rupee gained on the back of better-than-expected key macro economic data.
Gold Silver Reports – Asia Stocks Rally After Recovery in U.S. Equities – Asian equity markets recovered some of the losses sustained in the global rout after U.S. shares rallied amid a welter of calls to “buy the dip.” The dollar and Treasuries were steady.
Gold Silver Reports – Market Live: Sensex trades 1,000 points lower, Nifty near 10,300, BSE Realty falls 5% — Investors lost around Rs4.95 trillion amid sell-off in the broader market on Monday when benchmark Sensex slumped nearly 1,274.35 points to 33,482.81 points, while Nifty declined 371.40 points to 10,295.15, tracking global selloff.