The controversy deepened after a video surfaced showing Deputy Chief Minister Ajit Pawar at the wedding, personally handing over a Fortuner SUV and making a remark widely interpreted as normalising dowry.
Suggests cheque-only transaction for transaction beyond certain threshold.
Retail investment demand for gold bars and coins as well as central bank purchases pushed the global gold demand by 28 per cent to 1,181.5 tonnes in the September quarter, according to the World Gold Council report. The total global demand stood at 921.9 tonnes during the July-September quarter of 2021, the World Gold Council's 'Gold Demand Trends Q3 2022' showed on Tuesday. Investment was down 47 per cent year-on-year as gold backed Exchange Traded Fund (ETF) investors responded to a challenging combination of higher interest rates and a strong US dollar with significant outflows of 227 tonnes.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
People with modest incomes can also build a crore-worthy portfolio by investing small amounts consistently, says Ramalingam Kalirajan, and shows how the magic of compounding works.
'Gold prices thrive on volatility and more so when the stock markets trend downward.'
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
'Understand your financial goals. Next, categorise them by size. Then evaluate your investment options.'
Investing is not just about setting aside money -- it's about making it work for you, says Ramalingam Kalirajan.
The biggest gold buying festivals are Akshaya Tritiya and Dhanteras.
'The rise in SIP contributions has created a pool of long-term MF assets that can be pledged for loans.'
The demand for gold has bounced back sharply in India from the lows seen in 2020 because of the outbreak of the Covid-19 pandemic, and has even beaten the pre-pandemic level. In the September quarter, the demand for gold jumped 47 per cent year-on-year (YoY) to 139.1 tonnes, as against 94.6 tonnes in the year-ago period, and higher than the 123.9 tonnes recorded in the pre-pandemic September 2019 quarter, the World Gold Council (WGC) said in its latest release. In value terms, demand surged 37 per cent year-on-year (YoY) to Rs 59,330 crore during the quarter.
Banks asked not to convert purchases into instalments; Cards not to be accepted for sale of gold coins.
Forecast of normal monsoon and a good harvest will boost the purchasing power of gold among farmers in India, said a report from the leading Asian investment bank, HSBC.
The RBI is still a small player in international gold buying among central banks. But in terms of total gold bought in 2019, it is the sixth largest buyer with 25.2 tonnes purchases in the first 10 months of 2019.
China, set to pass India this year as the world's top gold consumer, has imported nearly a fifth more bullion than data from its traditional conduit Hong Kong shows as it brings in the metal via other routes.
The Reserve Bank of India (RBI) has increased its gold purchases, as part of its foreign exchange (forex) reserves. In the first half (H1) of calendar year 2021 (CY21), the addition of gold to India's forex reserves has been the highest - on a half-yearly basis -at 29 tonnes. Now, the RBI's gold holding - as a proportion of its forex reserves - has for the first time crossed 700 tonnes.
The Supreme Court of India has dismissed a plea filed by the legal heir of former Tamil Nadu chief minister J Jayalalithaa seeking the return of properties confiscated in a corruption case against her. The court stated that the abatement of proceedings due to her death did not mean she was acquitted of the crime. The court upheld the confiscation of her properties, including her iconic residence, Veda Nilayam, land parcels, estates, bank deposits, and other assets, which will be transferred to the Tamil Nadu government.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
In the first phase the yellow metal sold in four metro-Delhi Mumbai Kolkata and Chennai would compulsorily have hallmarking, assuring the purity, while the rest of the country would have to implement the norms in the next few months.India consumes on an average 800 tonnes of gold each year.
A firm overseas trend on Thursday helped gold recover by Rs 100 to Rs 17,300 per ten gram in the bullion market here on fresh buying by stockists amid marriage season demand.
'My life has been quite difficult. I felt I could see it in words. I thought if everyone else can write, then I can too.'
Escalating trade tensions amid a tariff war after Donald Trump took over as President of the United States (US) could adversely impact global growth and fuel inflation, an article on the "State of the Economy" in the Reserve Bank of India (RBI) monthly bulletin said.
While SGBs are a sound investment, they aren't worth buying at any price. The interest income you earn from them will not justify paying a high premium.
Digital gold is gold purchased online from various platforms including Paytm or Google Pay and stored in your online account.
The World Gold Council initiates micro-finance scheme to promote investments by low-income groups.
rediffGURU Vivek Lala answers your income tax and personal finance queries.
Crorepatis build wealth through disciplined saving, smart investing, and strategic risk-taking, proving that true financial freedom is earned, not inherited, says Ramalingam Kalirajan
If you would like to feature in this series, do send us your photographs (at least five). Tell us about yourself and what you do in around 300 words. Do also tell us about the role fashion plays in your life. Mail us at getahead@rediff.co.in (Everyday glam).
'In most schemes, where the monthly investment is a fixed amount, investors run the risk of the price of gold rising during the tenure of the recurring deposit,' notes Harsh Roongta.
The Reserve Bank of India's (RBI's) $10 billion US dollar-rupee buy-sell swap auction for three years received bids worth $16.23 billion on Friday, reflecting robust demand amid persistent liquidity deficit in the banking system. This was the second swap auction by the central bank after it infused $5 billion via six month-swap on January 31.
'There's a misconception that all Rs 1 lakh crore will be spent immediately, leading to higher consumption of FMCG goods, travel, and vehicle purchases.' 'While some of this money will go toward consumption, not all of it will.' 'The impact depends on where people deploy their savings.'
If you already hold significant amounts of equity in your portfolio, avoid MAAFs with over 60 per cent equity. But if you lack equity exposure, an aggressive MAAF may be appropriate.
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.
Gold loan is currently the fastest-growing loan category (among the various types disbursed to individuals). On February 26, 2021, the outstanding loan against gold jewellery stood at Rs 56,596 crore. By February 25, 2022, it had risen to Rs 71,408 crore, a year-on-year growth of 26.2 per cent, according to the Reserve Bank of India's (RBI's) data. Several factors are driving the demand for gold loans.
The answer depends on your financial goals and risk appetite, says Certified Financial Planner Ramalingam Kalirajan, and explains why.
Gold purchases by India, the world's largest importer of the metal, are down to a trickle because of high prices, prompting local traders and jewellers to reprocess scrap and jewellery to cater to rapidly falling local demand.
Inflows into mutual funds' equity schemes increased by over 14 per cent on-month to Rs 41,156 crore in December, even as market volatilities continued. The small and midcap schemes of mutual funds continued to attract investor interest with inflows touching record highs during the month, despite the concerns being expressed about the two segments for the risk they portend, industry body Amfi said.
