'India has about 22,000 tonnes of private gold, held by individuals and temples.' 'Much of this is locked up in safes and vaults as a dead investment. If we can put the vast reserves of gold to use, it would boost the economy,' says V P Nandakumar, executive chairman, Manappuram Finance, India's first listed gold loan company.
Nearly two-thirds of India's gold demand comes from rural areas where jewellery is a traditional store of wealth for millions who have no access to the formal banking system.
Despite returns from gold down over 5% in the past three months, it is a good idea to keep this asset class in your portfolio.
'Gold could benefit from the resulting risk aversion, as happened last year.'
'Understand how wedding expenses fit into your overall financial situation.' 'Evaluate how different levels of spending will impact other goals like retirement, travel, or housing.'
For easy and wide access, the government plans to market the bond through post offices and various brokers.
Chirag Mehta, senior fund manager -- alternative investments at Quantum AMC, shares his views.
Amendments will be tabled in Parliament for approval by Monday or Tuesday.
Gold stocks in India are estimated to be over 20,000 tonnes at present.
RBI Governor Raghuram Rajan has said falling oil prices act as a cushion for CAD, adding it is time India does away with restrictions on gold imports
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
If you invest for the shorter-term now, you will be able to roll over to higher rates when the interest-rate cycle turns, advises Sarbajeet K Sen.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
Taxpayers seeking to save tax from the sale of gold (including inherited) should reinvest the capital gains in residential property to avail of the benefit provided by Section 54F.
Shashi Tharoor, who is eyeing a fourth consecutive win from the Thiruvananthapuram Lok Sabha seat, has declared assets of over Rs 55 crore in his nomination papers.
The best way to curb gold demand is by reducing black money in circulation.
A workshop has been organised in Mumbai to come up with suggestions.
Analysts say investors should increase their exposure to gold up to 10% of their portfolio, depending on their comfort with a 2-year horizon. But avoid investing in physical gold or deposit schemes run by jewellers
Veterans recall they haven't seen gold falling for 3 years in a row.
Here is a primer to help you understand your tax liabilities in various investments.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
The RBI has issued guidelines and the government has notified it.
The bulk of an investor's portfolio should be in shorter-duration funds of up to one year portfolio duration.
People who have no access to or do not trust the financial system are the only ones for whom investing in gold makes sense, says Naval Goel.
In the past two years, investors in gold have lost money.
Look at gold bonds or gold monetisation scheme instead of buying physical gold
Record liquidity infusion by the central bank in the banking system during the financial year 2020-21 amid sluggish economic activity resulted in banks investing more in safe government papers than in extending loans, data from Reserve Bank of India (RBI) showed. This trend has not been seen in nearly two decades, barring 2016 - the year of demonetisation.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
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It would be fair to say that markets are coming to the end of a down-cycle and are at the cusp of the next up-cycle.
India imports a staggering 1,000 tonnes of gold every year, draining out foreign exchange and putting pressure on the fiscal deficit.
A combination of factors, including heavy investments in US Treasury bonds and dollar sales at a healthy profit, facilitated the Indian central bank in transferring a record surplus of Rs 2.11 trillion to the government for 2023-24 (FY24). The RBI's dollar purchases increased in FY24, supported by robust capital inflows endorsing the economy's health.
In 2012-13, financial assets, including banks deposits, mutual funds, equity, bonds, and pension and insurance funds, accounted for only a third of all household savings, down from nearly half in 2006-07.
A Ganesh Nadar/Rediff.com speaks to common folk in Tamil Nadu about whether they will invest in Arun Jaitley's gold monetisation scheme. Their reactions will not make the Union finance minister happy.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Physical assets such as gold and real estate have their own positives and negatives, while other financial assets such as mutual funds, stocks and bonds come with their pluses and minuses. Let us look at both options in a little more detail.
'Invest a part of your portfolio in a global currency that can't be printed, or meddled with -- gold,' suggests Chirag Mehta.
The iconinc Zaveri Bazaar in south Mumbai does business of around Rs 3 trillion a year.
While the government has not made the report public, sources said the panel had recommended a sharp cut in all taxes on the gold business, including import duty and goods and services tax which amounts to over 13%.
Earning returns from an asset lying idle can be a good option in times of volatility.
Stocks to watch: Videocon, Blue Star, Hitachi, MIRC Electronics, BPL, Whirlpool, Gitanjali, Titan Group
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