Flipkart-backed super.money is on an expansion spree and plans to expand its range of offerings in credit and wealth management after launching its operations in July this year. The Bengaluru-based fintech company is on track to roll out credit products such as credit on Unified Payments Interface (UPI), unsecured credit cards, and personal loans within the first half of the next calendar year (2025).
BSE proposes two models for making gold trading and investment transparent
The bank will be responsible for taking the mixed gold to mint and getting it purified.
It makes sense to wait for govt schemes such as gold bonds.
It plans to use it as collateral, along with forex reserves, to print currency.
Gold stocks in India are estimated to be over 20,000 tonnes at present.
The options include involving jewellers as collection centres, addressing of issues that banks have been facing and using domestically available gold for giving metal loans to jewellers for domestic sales.
While taking gold out of the closet to borrow money is no longer taboo in Indian households, the sharp drop in gold prices is hitting the newest loan product on the banking turf hard, explains Tamal Bandyopadhyay.
The recently approved government scheme provides both liquidity and returns.
Any liquid money that gold replaces for CRR or SLR compliance will allow banks to use this 'extra' cash for lending to borrowers
Siddhivinayak Temple has opened a demat account to accept donations in the form of 'shares and securities' from devotees.
Union Finance Minister Nirmala Sitharaman, along with her team of bureaucrats, delved into the fine print of the 2024-25 Budget documents in a press conference, detailing the government's road map on bringing down the debt-to-GDP ratio and bold tax measures.
'There is a misconception that gold is a dead asset in India.' 'Around 30 per cent of agriculture loans are collateralised by gold, Soumya Kanti Ghosh and Saket Hishikar, economists at the SBI, point out.
RBI Governor Shaktikanta Das has assured Finance Minister Nirmala Sitharaman that the Rs 12.05-trillion gross borrowing programme for FY22 will go through smoothly.
Some antique jewellery is displayed in a couple of museums in the world.
'For experienced and risk-taking investors, now may be the time to go all in.' 'By 'experienced and risk-taking', I refer to those who remained net buyers in equities during the early stages of the 2020 pandemic.' 'On the other hand, those who exited the markets during the pandemic may go the SIP way.'
The stock-market panic is not the only reason for rising investment demand.
There are a total of 12,611 establishments called enemy property, roughly estimated to be worth over Rs 1 lakh crore, in the country.
Fund houses have been barred from being net sellers or holding net short positions at the scheme level in commodities.
'The private sector will look to the budget to check whether there are any headwinds or tailwinds.'
The iconinc Zaveri Bazaar in south Mumbai does business of around Rs 3 trillion a year.
Gold demand in India -- one of most avid purchasers -- is interwoven with culture, tradition, the desire for beauty and the desire for financial protection.
The country's two biggest state-run lenders on Saturday pitched for treating a portion of their gold deposits as part of the mandatory cash reserve ratio (CRR) or statutory liquidity ratio (SLR), both of which banks consider as non-productive.
Something is cooking in online food delivery. After 15 years of grappling with the demands of the business - read cash burn - Gurugram-based Zomato reported its first profit in the first quarter of 2023-24 (FY24). Not satiated, it reported a profit in the following quarter as well: Of Rs 36 crore in the second quarter compared to Rs 2 crore in the first. A year ago, in the second quarter of FY23, it had reported a loss of Rs 251 crore.
India's gold obsession needs a correction.
'So far we have paid our salaries and pension in full because we had some reserve fund.' 'But we cannot afford to do so for more than another three months.'
While an import duty is ruled out, a small excise duty on jewellery manufacturing can be on the cards.
The third quarter (Q3) of 2023-24 (FY24) has proven to be pivotal, witnessing some startups turning profitable and others enhancing their performance as their businesses finally begin to deliver. Startups like Delhivery, Zomato, PolicyBazaar, Mamaearth, and Nykaa have either become profitable or improved their profit margins in Q3FY24. A renewed focus on profitability, supported by operational efficiencies, expense rein-in, and robust demand during the festival season, has empowered companies to strengthen their performance.
My advice: Live and let others live.'
'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.
Gold demand in rural India is expected to be lower this year with weak monsoon affecting household savings, according to the World Gold Council (WGC).
The company, which claims to have an annual revenue rate of US$7 million and is targeting to touch US$35 million in 2022, will also be investing in creator growth and monetisation opportunities.
Key drivers of profitability for Zomato has not witnessed remarkable growth, the management believes the venture will turn profitable in the long term.
The biggest achievement of the Modi government in the past one year was it could bring positivity in the minds of people and industry, says V P Nandakumar, executive chairman of the Manappuram Finance Ltd, in an interview to Shobha Warrier/Rediff.com.
Gold loan companies offer loans to financially-excluded customers and MSMEs by enabling them to monetise their gold without the need for documentary proof of income
The government will unveil the Consumer Price Index data and the Wholesale Price Index data for August on Monday.
Govt looking for common ground on GST; hopes to pass it soon.
Experts have started giving comments on provisions that the govt must make in Budget 2016-17.
Pulbic banks have no reason to cheer Budget announcement.
Finance Minister Nirmala Sitharaman presented her third Budget on February 1.
