Goldman (GS) and other banks are likely to face class-action lawsuits for colluding to drive up interest rates paid on a popular municipal bond.
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In a move that is expected to significantly bolster the Indian rupee, JP Morgan is incorporating Indian bonds into its emerging-market index. This development was announced on Friday and is anticipated to draw substantial foreign investments. The inflow of foreign capital is predicted to provide critical support to the rupee during a period when the country's current accounts are under strain due to escalating oil prices.