Manmohan Singh represented the finest aspects of India, asserts Aakar Patel.
The recent Bitcoin rally, which saw the cryptocurrency surge past the $100,000 mark on Thursday, is drawing Indian investors in droves. Cryptocurrency platforms in India are experiencing a significant uptick in activity and user sign-ups, driven by the optimism surrounding "crypto-friendly" Donald Trump's US presidential election victory.
The country's gold reserves remained unchanged at $19.377 billion.
India's foreign exchange reserves soared by $11.02 billion to reach $561.162 billion for the week ended December 2, Reserve Bank data showed on Friday. This is the fourth consecutive week of rise in the reserves. In the previous reporting week, the overall reserves had grown by $2.9 billion to $550.14 billion. For the week ended November 11, the forex kitty had jumped by $14.72 billion in its second fastest weekly acceleration ever.
The rise in reserves was $2.12 billion.
After rising for four consecutive weeks, India's foreign exchange reserves declined by $1.657 billion to $281.294 billion in the week to November 1 on account of drop in a key component, Reserve Bank said.
Private consumption is back driven by festive spending, and the medium-term economic outlook remains bullish as the innate strength of the macro-fundamentals reasserts itself, the Reserve Bank Bulletin said on Wednesday. Global economic activity remained resilient during Q4:2024 amidst fragile confidence and rising protectionism, said an article on 'State of the Economy' published in the November Bulletin.
In the second consecutive week of an increase in the kitty, India's forex reserves have grown by $2.54 billion to $547.25 billion for the week ended November 18, the RBI said on Friday. In the previous reporting week, the overall kitty had swelled by $14.72 billion in the highest weekly rise since August 2021 to $544.71 billion. It can be noted that in October 2021, the country's forex kitty had reached an all-time high of $645 billion.
Credit card spending reached Rs 2 trillion in October, a 14.5 per cent rise from September, largely driven by festival season purchases. However, the volume of outstanding credit cards increased only marginally during the same period. The spike in spending comes at a time when nearly all major credit card issuers are calibrating their growth in the segment due to visible signs of stress.
In addition to interest rates, review the fine print for penalties and repayment terms, and select a reputable lender to avoid harsh recovery practices.
India's inspirational para-athletes achieved their stated goal of 25 medals and remained on course for more in Paris on Thursday.
Despite its recent underperformance, gold must be a part of your portfolio.
From the outcome of the general elections and then Union Budget to tepid corporate earnings in the September 2024 quarter (Q2-FY25), sticky inflation and Reserve Bank of India's stance on interest rates, extreme weather conditions, Indian stock markets have braved it all in calendar year 2024.
According to officials, seven employees of the Yojna Bhawan having access to the basement have been detained for questioning.
The December meeting of the Reserve Bank of India's (RBI's) six-member Monetary Policy Committee (MPC) will start on Wednesday even as there is no clarity on whether Governor Shaktikanta Das, the chair of the panel, will continue in office after his term ends next week. The outcome of the meeting will be announced on Friday by Das at 10 in the morning.
'Investors looking at the next 6-12 months can be certain that the Fed will maintain its easing cycle, and we expect the overall environment to be conducive for fixed income investments for portfolio diversification.'
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).
Once you are done paying your respect to God and Grasshoppers, you circle back to the human beings in Gold, and that's when things become progressively more and more muddled, observes Sreehari Nair.
In the week ending July 26 foreign exchange reserves had recorded a rise of $960.2 million to $ 280.16 billion
In the biggest weekly increase in over a year, India's forex reserves swelled by $6.56 billion to reach $531.08 billion for the week ended October 28, RBI data showed on Friday. The overall reserves, which have been on a declining spree for many months now, had dropped by $3.85 billion to $524.52 billion in the previous reporting week. The $6.5 billion jump in the reporting week is the highest since September 2021.
Gold is often considered a 'hedge' against an economic uncertainty.
Young investors could allocate in the proportion of 70:20:10 to equity, debt and gold.
The reserves rose to $501.70 billion helped by a whopping rise in foreign currency assets, the latest data from the Reserve Bank of India.
Given the economic trends, it might make sense to allocate some savings to gold.
Gold demand in India -- one of most avid purchasers -- is interwoven with culture, tradition, the desire for beauty and the desire for financial protection.
President-elect Donald Trump announced a slate of key Cabinet nominations, including tapping former Democratic presidential candidate Robert F. Kennedy Jr. as his Secretary of Health and Human Services and former Congressman Doug Collins of Georgia as Secretary for Veterans Affairs. Trump also named Jay Clayton as US Attorney for the Southern District of New York, Todd Blanche as Deputy Attorney General, and Dean John Sauer as Solicitor General of the United States.
India on Monday announced the results for the country's first critical mineral auction. Amid the tepid response from big players, the list of successful bidders included some lesser known names. A total of five companies secured bids for six critical mineral blocks of graphite, manganese, phosphorite, lithium, and rare earth elements with auction premiums ranging from 13.05 per cent to 400 per cent.
During the reporting week, gold reserves increased marginally by $87 million to $26.796 billion.
Gold reserves increased $1.54 billion to $32.68 billion in the reporting week.
Hometown favourites Felix and Alexis Lebrun, at 17 and 20, also made it to the round of 32 in singles with clean 4-0 victories, against the backdrop of a packed stadium of French fans cheering for them and shouting their names.
Gold reserve also declined by $340 million to $30.55 billion.
The introduction of tax deducted at source (TDS) on income from central government securities and state bonds may not lead to a significant effect on retail participation, according to market participants. The Union Budget proposed that starting October 1, 2024, investors may face a 10 per cent TDS on investments in central government securities and state development loans (SDLs). "Last Budget, TDS on interest on securities was reintroduced.
The Reserve Bank of India (RBI) has barred four non-banking finance companies (NBFCs), including two microfinance institutions (MFIs), from sanctioning and disbursing loans for charging exorbitant interest rates to the borrowers. These four entities are Asirvad Microfinance, Arohan Financial Services (also an MFI), DMI Finance, which provides personal, consumption, and micro, small and medium enterprises loans, and Flipkart co-founder Sachin Bansal's Navi Finserv, which offers home and personal loans. The ban will take effect on October 21 to "facilitate closure of transactions in the pipeline", the regulator said in a statement.
During the week, gold reserves declined by $443 million to $26.910 billion.
India's forex exchange reserves increased by $289 million to $640.401 billion for the week ended November 19, the Reserve Bank said on Friday. The overall reserves had declined by $763 million to $640.11 billion in the previous reporting week. They had touched a life time high of $642.45 billion in the week ended September 3, 2021.
India's gold imports, which have a bearing on the country's Current Account Deficit (CAD), rose 6.4 per cent to $12.9 billion during April-July this fiscal due to healthy demand, according to government data. The imports stood at $12 billion during the same period a year ago. In July 2022, however, imports of the precious metal fell sharply by 43.6 per cent to $2.4 billion, as per the latest data released by the commerce ministry.
Gold prices are struggling and are down 18 per cent from their March highs. But stock prices have fallen even more. As a result, the precious metal has begun to outperform equities - both in the domestic market and international markets. Gold prices are up 2.6 per cent in the domestic market in the current calendar year (CY22) so far, according to the World Gold Council (WGC), compared to a 1.7 per cent decline in the Sensex year-to-date (YTD).
'In the case of corporate credit, especially to AAA borrowers, lenders will have to take a fresh look at pricing.'
Of the 1,000 surveyed by IIM-A, only five were aware about the government-sponsored gold schemes
Raghuram Rajan has described the fall in reserves as dip in valuation with appreciation of dollar against other currencies
