Closing sharply lower, the Indian equity benchmarks Sensex and Nifty, saw a major fall as the volatility index rose 12 per cent on Monday. The fall in the market is seen in line with losses across global markets as investors wait for cues from the US Federal Reserve Bank this week
The Federal Open Market Committee's two-day policy meeting is due on September 21-22, where the US central bank is expected to provide guidance on when it will start withdrawing its asset purchases and on eventual interest rate hike
Federal Reserve Chair Jerome Powell's much-anticipated speech was noncommittal on the precise timing of the Fed's bond tapering, unlike earlier remarks by several regional Fed presidents who wanted tapering to start soon
There will be one more tranche of SGBs after this one in the current financial year. The issue is priced at Rs 4,790 per gram and there is a discount of Rs 50 per gram if you invest online. Should you invest in SGBs? Who should not invest in it? How do the government’s gold bonds compare with gold ETFs, gold mutual funds and gold jewellery ?
"We need this (foreign exchange) reserve buffer to insulate ourselves because we have no friends. Even the European Union (EU) went to get swap lines from the Federal Reserve," former RBI Governor Raghuram Rajan said