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RBI says engaged with prospective investors to secure best terms for PMC Bank depositors

RBI says engaged with prospective investors to secure best terms for PMC Bank depositors

Finance
The RBI and PMC Bank are presently engaging with prospective investors to secure the best possible terms for the depositors, and the process is likely to take some more time, the central bank said, as it extended the restrictions on the fraud-hit urban cooperative lender by three months to June 30. In September 2019, the RBI had superseded the board of PMC and placed it under regulatory restrictions, including cap on withdrawals by customers, after detection of certain financial irregularities and misreporting of loans given to real estate developer . The restrictions have been extended several time since then. PMC Bank had received binding offers from certain investors for its reconstruction, in response to the Expression of Interest (EOI) dated November 3, 2020 floated by the bank. RBI a...

Investors will get temporary relief from falling Treasury yields this spring, market forecaster Jim Bianco predicts

Finance
Investors may get a break from the market's wild swings.Wall Street forecaster Jim Bianco expects stocks to get a boost this spring because the benchmark 10-year Treasury Note yield will temporarily retreat."The near-term forecast is it's oversold, and it's probably due for a rally – meaning that we would have falling rates," the Bianco Research president told CNBC's "Trading Nation" on Friday.He predicts the drop will benefit the indexes, including the tech-heavy Nasdaq which has gotten rocked by rising rates in the past month. The Nasdaq is particularly vulnerable to rates because technology is considered a long duration asset like Treasurys."The stock market will definitely act like it's a relief," Bianco said.The 10-year yield closed the week at 1.70%, and it's up almost 89% so far thi...

Op-ed: Here are some safe money moves investors should make now

Finance
fstop123 | E+ | Getty ImagesDespite concern over rising bond yields, many investors see today as the best of times.The economy is growing and should get stronger as stimulus checks and child-care tax credits help millions of American families. More people are getting vaccinated daily, raising the prospect of a more open economy.  And, at least for now, inflation and interest rates remain low.Given this scenario, how should investors play the rest of the year?I believe that investors cannot actually time the market, no matter the economy's strength or the valuation of the stock market. Instead, through thick and thin, you stick to the same, solid diversified financial plan initially created to build financial independence.More from FA Playbook:Here's a look at other stories impacting t...
Antivirus software creator charged with cheating investors

Antivirus software creator charged with cheating investors

Technology
Antivirus software entrepreneur John McAfee is charged with fraud and money laundering conspiracy crimes in a newly unsealed indictment in New YorkBy LARRY NEUMEISTER Associated PressMarch 5, 2021, 11:15 PM• 3 min readShare to FacebookShare to TwitterEmail this articleNEW YORK -- Antivirus software entrepreneur John McAfee was indicted on fraud and money laundering conspiracy charges alleging that he and cohorts made over $ 13 million by fooling investors zealous over the emerging cryptocurrency market, authorities said Friday.McAfee, 75, was charged in a newly unsealed indictment in Manhattan federal court along with Jimmy Gale Watson Jr., who served as an executive adviser on what prosecutors described as McAfee's “so-called cryptocurrency team.”Prosecutors said Watson, 40, was arrested ...

The GameStop mania might be over, but retail investors look here to stay

Finance
Luis AlvarezThe GameStop bubble has come and gone but the rookie investors who speak emoji and Reddit may be here to stay with big implications for brokerage firms, as well as traditional investors who must pay closer attention to where this fast-moving, smartphone app-wielding crowd is moving next."We believe some of the new retail activity is here to stay," wrote an analytics team at Bank of America in a report to clients.Bank of America's team found that the unprecedented surge in brokerage app downloads during the GameStop mania is continuing at a rapid pace this month even with the GameStop trade itself now forgotten. Credit Suisse data shows retail trading as a share of overall market activity has accelerated in recent months and has now doubled compared to the start of last year.Plu...