A Complete Banking Guide... Bank of Baroda, Allahabad Bank, Andhra Bank, Bank of India, Bank of Maharashtra, Canara Bank, Central Bank of India, Dena Bank, ICICI Bank, IDBI Bank Limited, Indian Bank, Indian Overseas Bank,, Oriental Bank of Commerce, Punjab & Sind Bank, Punjab National Bank, State Bank of India, UCO Bank, UTI Bank Ltd., Union Bank of India, United Bank Of India, Vijaya Bank, Yes Bank, Mutual Funds, Income Tax
12:10 AM
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Gold prices in India hit a record high of Rs 76,899 per 10 grams on the MCX due to dovish central banks, lower bond yields, US election uncertainty, and Middle Eastern conflict. US gold futures also surged amid safe-haven demand and geopolitical tensions.
8:10 PM
Blogger
The European Central Bank lowered its key interest rate from 3.5% to 3.25%, reflecting optimism as inflation drops to a three-year low of 1.8%, below its 2% target. This third cut since June suggests further rate reductions may be expected as economic growth slows.
5:10 PM
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Indian Overseas Bank reported a 24% rise in net profit to Rs 777 crore for Q2 FY24, up from Rs 625 crore a year earlier. Total income grew to Rs 8,484 crore, while interest income climbed to Rs 6,851 crore. Improved asset quality saw gross NPAs fall to 2.72% and net NPAs drop to 0.47%.
8:10 AM
Blogger
A quick MoU between RBI and Esma is unlikely as Indian authorities reject extra-territorial regulation. European banks face higher capital requirements for CCIL transactions. RBI and the Indian government explore alternatives to maintain regulatory sovereignty.
1:10 PM
Blogger
The Reserve Bank of India may expand the RTGS to include major currencies like the US dollar, euro, and pound sterling. This move aims to make cross-border payments more affordable and faster.
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