Tomorrow is Budget Day… Release of the Annual Economic Budget… I was not able to verify when someone told me today one of the brokers got knocked offline… or probably another refco…
So there, RBI has taken action against one of the micro-payment systems,… Markets would talk of that company as darling of the markets but then, it has sent jitters throughout the length and breadth of the country. Buffett had a good sized stake in it as well but then he exited it fully a few months ago.
It is safer for investors, depositors to deposit their money into RBI for 182 days at a stretch, I think their rate is 7.17% which is the highest in the category and compared to bank deposits which are offering 8%+ per annum, however I would still bid the 182 over the bank deposits, because there is going to be a global increase in geo-political variables which are gonna cause rates to well…?