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.
RBI
RBI Lowers Repo Rate by 25 bps to 6%, Second Cut in Two Months
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%.
Deutsche Bank says India Bond Buys Distort Market
Gold Silver Reports – The Indian central bank’s purchases of bonds to inject cash into the financial system may have an unintended effect of distorting bond prices, according to Deutsche Bank AG.
BREAKING NEWS – Shaktikanta Das Is New RBI Governor
“The Appointments Committee of the Cabinet has approved the appointment of Shri Shaktikanta Das, IAS Retd., former Secretary, Department of Economic Affairs, as Governor, Reserve Bank of India for a period of three years,” said a government statement.
Nifty Intraday Next Target 10280—10210 – Neal Bhai Reports
Nifty Intraday Next Target 10280—10210 – Neal Bhai Reports
The BSE Sensex was down 500 points and the Nifty 50 plunged below the 10,400 level ahead of the final assembly election results from five states. Benchmark indices BSE Sensex and NSE’s Nifty 50 slumped 2% in the previous session after exit polls released after market hours on Friday projected the BJP losing power in Rajasthan and facing a tight finish in Madhya Pradesh and Chhattisgarh—
Breaking News – Urjit Patel Resigns as RBI Governor
Breaking News – Urjit Patel Resigns as RBI Governor
Reserve Bank of India (RBI) governor Urjit Patel on Monday resigned from the post citing personal reasons. “On account of personal reasons, I have decided to step down from my current position effective immediately.
Banks Get ₹3.7 Trillion Lending Boost With RBI-Govt Ceasefire
Gold Silver Reports (GSR) – The central bank’s board on Monday decided that banks would have to meet the capital conservation buffer norms under Basel III regulations by 31 March 2020, instead of the earlier deadline of March 2019.
Central Bank Board Meets – Govt Wants to Capture Central Bank to Gain Control of its Rs 9 Lakh Cr Reserves
Ahead of the Reserve Bank of India (RBI) Board meeting today, Congress leader P Chidambaram on Sunday alleged that the central government was determined to “capture” the bank to gain control over its Rs 9 lakh crore reserves.
Rupee, Bonds Gain as Crude Oil Prices Ease
Gold Silver Reports (GSR)— This prompted FIIs to buy nearly $1.26 billion in domestic debt over the last nine trading sessions (between 24 October and 5 November). So far this year, FIIs have offloaded $7.76 billion in domestic bonds.
Government Initiates Consultations With RBI Under Rare Provision
The government has issued “several” letters to the Reserve Bank of India initiating consultations under Section 7 of the RBI Act, said a person familiar with the matter. While consultations have been initiated under this provision, no directions have been given, said this person.