The NSEL payment crisis began in July 2013 when the exchange defaulted on 5,600 crore owed to around 13,000 investors. It had offered contracts that involved buying and selling commodities with fixed returns, but most trades were not backed by the actual commodity.
Gold poised for weekly loss as US delays decision on Middle East involvement
Gold prices remained stable on Friday but are set for a weekly loss as President Trump delayed a decision on intervention in the Israel-Iran conflict.