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Wednesday, 24 April 2013

Money Laundering

HDFC Sings RBI's Tune On Systemic Risk

Private sector lender HDFC Bank does not see any systemic threat to banking industry due to alleged money laundering cases exposed by a sting operation.

In respect of the sting operation, three investigations are going on," Paresh Sukthankar, executive director HDFC Bank told reporters here in Mumbai while announcing the fourth quarter (January - March) results on Tuesday. 

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Gold Prices Making A Comeback

The gold bugs have come out to play. Gold bounced back Monday after taking a massive beating over the past week or so.

Early Monday, gold prices popped back above $1,400 for the first time in a week. Prices are still a far cry from their record $1,900 level but the modest bounce is encouraging for gold bugs.
It was exactly one week ago that gold prices plunged more than 9% in their biggest one-day sell-off in decades. That appeared to be enough of a rout for big money to come rolling back in.

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