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Federal Reserve Chair Jerome Powell revealed Sunday that the Trump administration has threatened him with a criminal indictment. This follows grand jury subpoenas served to the Fed on Friday, which Powell described as a "pretext" to pressure him in a dispute over interest rates. The subpoenas are related to his testimony before the Senate Banking Committee last June.
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Small finance banks are strengthening their risk management. They plan to reduce unsecured loans and boost secured lending like vehicle and housing loans. Credit guarantee schemes will cover more microfinance loans. This strategy aims to prevent asset quality issues. Banks like ESAF, Suryoday, Ujjivan, and Utkarsh are implementing these changes to ensure stability and growth.
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Indian equity markets face a bearish outlook as the Nifty breaks key supports. Analysts predict further declines, with the Nifty potentially testing the 25,300 to 25,350 levels. Sentiment is unlikely to improve without a strong rebound above 26,100. Investors are advised to adopt a sell-on-rise strategy.
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