The government has made PAN card mandatory from January 1.
'Ram Sene or Bajrang Dal were supposed to be fringe elements, but with the BJP in power, they have become mainstream elements.' 'The government is either keeping quiet or indirectly supporting them.'
'The government can increase import duty on gold by 1 per cent, instead of imposing excise duty.'
Real reason for crashing gold prices is not Trump victory, says expert.
Jewellers on Monday decided to continue their pan-India strike for an indefinite period against the Budget proposal.
Gitanjali Gems and Firestar Diamonds together account for 5.8 per cent of the diamond and jewellery trade in India.
From farmers to cement, steel, logistics, transportation and automobiles, the back-end is struggling to get going due to the liquidity crisis.
In the second of a six-part series, Sanjay Jog of Business Standard walks across the streets of Indore to find out how it has been hit by demonetisation.
Sun Pharma was the top loser in the Sensex pack, shedding 2.37 per cent, followed by HCL Tech, Reliance Industries, IndusInd Bank and L&T.
Traders said gains in equities and a stronger dollar dented demand for the precious metals too.
A sharp decline in sales and prospects of a grim future have resulted in a fall in jewellery stocks.
Traders have used this as an opportunity to stock up silver.
With the government extending its ban on forward trading in more agricultural commodities, a section of jewellery traders has sought a similar curb on gold and silver futures as well to curtail the volatility in rates. The government suspended futures trading in soya oil, potato, rubber, chana (gram) on Wednesday, while rice, wheat, urad and tur were banned early last year. Sudden rise and fall in prices of gold and silver, many times in a day, has created instability.
'In the last 4, 5 years, ever since online companies started online shopping in a big way with heavy discounts, our sales are affected badly.' 'As there is no control over the way the online companies operate, they were able to destroy the domestic retail market to a great extent.'
While gold fell by Rs 250 to Rs 30,250 per ten grams, silver lost Rs 475 to Rs 49,025 per kg on reduced offtake by jewellers and industrial units.
Traders said fresh buying by industrial units and coin makers along with higher global trend mainly led the recovery in silver prices.
Despite the low prices, commodities are risky investments
The exports have shown a fall of 6% during the first 11 months of fiscal 2006-07.
We have our own problems for sure and they are not trivial, but for now, our economy is in not too bad a shape, our politics is as personality-driven and authoritarian as that of most countries in the world. We must make the best of what we have and not be excessively unhappy looking at the grass on the other side of the septic tank which may not be greener after all!, observes Shreekant Sambrani.
It's day 14th of the jewellers and bullion traders' strike and there are no signs of roll back from the government. The industry is also determined, and has called for an indefinite strike.
Jewellery showrooms in Tamil Nadu and Andhra Pradesh were also opened.
The government has not given any concrete assurance on the rollback of excise duty.
It may touch Rs 19,800 crore.
'Irrespective of the price movement of gold, customers can lock in their purchase at Rs 28,000 per 10 grams of pure gold.'
While NSE is exploring 8-10 new agri-commodities, BSE is eyeing as many as 15, most of which aren't traded on any other online derivative exchange in India.
The EU is likely to intensify sanctions if the situation remains tense.
At Delhi's markets, cardamom, pepper selling at double their recent rates
Collectors are interested not only in currency notes which are out of circulation but also those which are currently in use. Of course, they must have some special feature to be of interest to a collector.
A higher opening in the domestic equity market also supported the rupee but dollar's gain against other currencies overseas limited the rise of domestic unit, forex dealers said.
Overseas funds have also become strong buyers of debt, with net purchases of $5.6 billion so far this year.
Back where the crisis started, the stand of half-built skyscrapers, an eyesore along Bangkok's skyline for years, has given way to a modest number of construction cranes and new, completed expressways
'The BJP's solo aim in Mumbai and Maharashtra is to finish off the Shiv Sena and Sharad Pawar's NCP.'
Ratio trading in gold and silver prices is a trading tool.
In a landmark move, India may allow its expatriates to trade in commodities. The decision is aimed at expanding the country's $750-billion futures market.
'The norm will be even less public accountability, even less transparency, tweets instead of press conferences, TV lectures rather than parliamentary debate, and greater political authoritarianism,' predicts Sunanda K Datta-Ray.
The President asked many questions on the treasure found in the temple, however, he wasn't shown the actual treasure since it's sealed under a Supreme Court order. Sheela Bhatt/Rediff.com, who accompanied the President, reports from Thiruvananthapuram.
Investors were focussed on the RBI's monetary policy review on Tuesday which will give an insight into its inflation and rates outlook.
The CBI and ED are keeping a close eye on several bank accounts.
Foreign investors have bought nearly $5 billion worth of debt so far in 2014.
