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<div type="image" title="Save yourself the trouble of buying physical gold this Diwali, and instead, go digital with Gold ETFs!" height="900" width="1200" msid="114507055" hostid="261" sizebytes="439216" caption="&amp;lt;p&amp;gt;Save yourself the trouble of buying physical gold this Diwali, and instead, go digital with Gold ETFs!&amp;lt;/p&amp;gt;"></div> Ah, <keyword id="18712" type="General" weightage="20" keywordseo="Gold" source="Orion">gold</keyword>! The shiny metal that's been making humans lose their minds since time immemorial. And yet, from <keyword id="23657519" type="General" weightage="20" keywordseo="king-midas" source="keywords">King Midas</keyword> to our neighbourhood aunty and even our moms (and secretly dads), everyone seems to have a super soft spot for the <keyword id="6384667" type="General" weightage="20" keywordseo="Bullion" source="Orion">bullion</keyword>. But here's the kicker: right now, gold prices are breaking all records on their upward trajectory! As of today, prices of 24k carat gold have passed the Rs 80,000 mark per 10 grams. And if experts are to be believed, this train isn't stopping anytime soon! So, as shiny as gold might look, adding even a bit of its glitter as we start decking up for the festive season might not be so easy on your pockets. But let's admit it—we love our gold and can't live without it. No wonder India is the second-largest consumer of the yellow metal in the world, only behind China. Such is our fondness for the metal that the <keyword id="20195223" type="General" weightage="20" keywordseo="world-gold-council" source="keywords">World Gold Council</keyword> had to up our 2024 annual demand forecast to 850 tonnes, up from the previously estimated 750 tonnes. However, our love for gold isn't just about looking fabulously embellished and blinding people with its bling. Indians also see gold as a long-term, trusty investment, supporting our other hard-earned assets, especially when high <keyword id="22195" type="General" weightage="20" keywordseo="Inflation" source="Orion">inflation</keyword> rates pull our returns down. After all, while inflationary pressures generally weaken the purchasing power of our regular paper money, gold is built differently. When the world is buckling to inflation, gold gains value during these times. This is also why it is considered a solid hedge against inflation. With <keyword id="188" type="General" weightage="20" keywordseo="Diwali" source="Orion">Diwali</keyword> and <keyword id="4067" type="General" weightage="20" keywordseo="Dhanteras" source="Orion">Dhanteras</keyword> knocking at our doors, the inflation demon continued to bother India like a guest who refused to leave. Just last month, the Consumer Price Index (CPI) stood at 5.49%, much higher than the anticipated levels. Moreover, the diverging policy stances among central bankers worldwide, growing geopolitical tensions, tough job markets, and extreme weather events are only adding to the uncertainty. In such economically uncertain times, what should your gold strategy be this festive season? To buy or not to buy, that is the question. Well, let’s get to it. <h2><keyword id="20050894" type="General" weightage="100" keywordseo="gold-etfs" source="keywords">Gold ETFs</keyword> to the rescue</h2>See, buying physical gold jewellery is certainly a flex, but also a financial fuss. First, you pay a heavy amount to buy gold. Not to mention all those extra, hefty jewellery-making charges. And then you pay even more money to keep it safe in a bank locker, lest it get stolen. But what if we tell you that you can own pure 24k gold, minus all these frills? Welcome, Gold ETFs (Exchange Traded Funds). Simply put, gold ETFs are like the cool cousins of your traditional gold investments. Instead of stashing gold bars under your mattress like those maniac millionaires we see in Bollywood films, you can now invest and trade in gold through the stock market. It's basically buying units of an <keyword id="19930506" type="General" weightage="20" keywordseo="etf" source="keywords">ETF</keyword> on the stock exchange that directly mirror the ongoing domestic prices of gold. Generally, gold ETFs are equivalent to 99.5% pure physical gold bars, and each ETF unit denotes actual, one gram of gold. And let's face it, who would not want that golden glow in their lives? Gold ETFs have witnessed an over seven-fold surge in their AUM (assets under management) in just the last five years. From Rs 5,613.22 crore in September 2019 to Rs 39,823.50 crore in September 2024, gold ETFs seem to be in-thing. Inflows in gold ETFs have shot up by a whopping 2,695% over the last 5 years. In September 2019, gold ETFs had garnered a mere Rs 44.11 crore. Compare that to the inflows worth Rs 1,232.99 crore gold ETFs received last month. Talk about growing, or glowing popularity! In fact, in just 2024, inflows in gold ETFs have surged by nearly 88% since the beginning of this calendar year. From Rs 657.46 crore in January 2024 to Rs 1,232.99 crore in September 2024, good old gold is never out of season. <h2>So, how do these ETFs work? Should I invest in them now?</h2>All you need is a Demat account. Log into your account, choose the gold ETF scheme you want to invest in, and voila! You’re now a bullion-aire! All your gold ETF units will be stored in this account. Then, you can buy and sell gold ETFs just like you buy shares—in real-time. So, if gold prices inch upwards, which is where gold is currently going, the value of your ETF units will also rise in lockstep. Ashwini Kumar, Senior Vice President and Head of Market Data at ICRA Analytics, says that of late, gold ETFs have been increasingly gaining popularity among investors due to the liquidity, safety and transparency they offer. "With the escalating global geopolitical tensions boosting the ‘safe-haven’ appeal of the bullion, investors are preferring to park their funds in gold ETFs as compared to investing in physical gold, as there is no hassle of storing it. The heightened activity in gold ETFs is also driven by the prospects of an imminent further interest rate cut by the <keyword id="20078761" type="General" weightage="20" keywordseo="u-s-federal-reserve" source="keywords">U.S. Federal Reserve</keyword> in the coming months,” he added. “Investors with a short- to medium-term investment horizon may consider investment through gold ETFs. A buy-on-dips strategy here may help investors capitalise on a temporary correction in prices. Also, given the current market dynamics where equities are showing mixed trends, a modest, 5-10% allocation to gold may serve as a hedge against inflation and market volatility, which may help you balance risks in an optimum manner,” Kumar noted. <h2>Wait, there is no dearth of options</h2>But if ETFs make you go WTF, there’s always digital gold. You can invest in the yellow metal without actually physically holding it for as low as Rs 1. The best part? You can buy or sell this gold 24 X7 seamlessly via multiple apps without having to pay storage costs. On your behalf, your gold is stored in insured vaults by the seller. But remember, digital gold continues to remain unregulated territory in the country, where you venture at your own risk. In 2021, market watchdog SEBI had even asked its members to desist from selling digital gold. Then there are gold mutual funds and the Sarkari SGBs, or sovereign gold bonds. While gold mutual funds invest primarily in gold ETFs, SGBs are issued by the RBI and are also a reliable substitute for holding physical gold. However, with the RBI currently putting brakes on issuing SGBs, investing in them is out of the question. Plus, you should only get your hands on SGBs if you're in for the long haul. Apart from a 2.5% p.a. interest, you don't have any yearly earnings from them. Moreover, no premature redemption is allowed before 5 years, and you'll have to wait a good 8 years to maximise your returns. <h2>Okay, tell me about returns</h2>In contrast, the seventeen gold ETF schemes currently present in the market offer an average one-year return of 29.12%. Stay with it a little longer, and you can end up with returns worth 16.93% and 13.59% over a 3- and 5-year period, respectively. If you look at it, these returns are comparable with the returns delivered by actual, physical gold. Data from Value Research indicates that gold, as a commodity, has delivered returns worth 27.24%, 16.53%, and 14.18% over a 1, 3, and 5-year period, respectively. So, worth investing, right? <h2>What are the risks?</h2>See, markets are as unpredictable as monsoons in Mumbai. One significant market correction can wash away your returns, and one sunny day or an upswing can leave you wallowing in wealth. Since your gold investments are directly linked to these markets, you should steel yourself up for some volatility. Plus, international gold prices are in dollars. So, if our rupee decides to take a nosedive, your returns might look a bit tarnished. Also, know that your ETF might not always perfectly mirror gold prices, which is also known as a tracking error. It's like expecting your Zomato-ordered food to look exactly like the picture on the menu—it's close, but not quite. Then there’s the taxation bit. The budget this year brought down the LTCG (long-term capital gains tax) on gold ETFs from the previous 20% to 12.5% (sans indexation). LTCG is what you pay if you sell your ETF units after 12 months. If you sell your gold ETF units within a year and make handsome returns, the tax you’ll have to pay will be equivalent to your income tax slab rate. <h2>Is gold just for old?</h2>A survey by fintech firm Moneyview thinks otherwise. Per their findings, over 85% of the 3,000 respondents it talked to considered gold to be a valuable asset for wealth preservation, with its intrinsic value and historical performance continuing to drive consumer confidence. Particularly, young investors in the age group of 25–40 years are also investing in gold via both physical and digital ways to build wealth for retirement and other long-term goals. So, young or old, everyone’s going for gold. So, this festive season, with gold prices going north, investing in gold can add that much-needed glitz to your financial attire. But remember, don't go overboard since gold isn't exactly a high-return-yielding asset. But whether you're a seasoned investor looking to diversify or a newbie trying to make their way in the markets, investing in gold offers you a glittering safety cushion. Just remember, while gold can make your portfolio shine, it's your smart investment decisions that truly make you golden. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend readers consult certified, qualified, and registered advisors for professional and personalised financial advice.

Simply put: Can investing in gold this festive season add the much-touted Midas touch to your investments?

The time for lamps, lights, festive cleaning, and shopping is upon us! Diwali festivities start with <keyword id="23288581" type="General" weightage="20" keywordseo="Dhanteras" source="keywords">Dhanteras</keyword> on Tuesday, October 29. Also referred to as <keyword id="23672565" type="General" weightage="20" keywordseo="Dhantrayodashi" source="keywords">Dhantrayodashi</keyword>, this day is celebrated with great joy and devotion by many Hindus. It involves worshipping <keyword id="23220366" type="General" weightage="20" keywordseo="Lord-Kuber" source="keywords">Lord Kuber</keyword>, the god of wealth, and Lord Dhanvantri, the god of medicine. Additionally, buying gold or silver on this day is seen as particularly auspicious. As <keyword id="23642266" type="General" weightage="20" keywordseo="Dhanteras-2024" source="keywords">Dhanteras 2024</keyword> approaches on October 29, here’s everything you need to know about the festival, including the date, Shubh Mahurat timings, and other key details. <h2>Significance of Dhanteras</h2>Dhanteras hold deep significance in Hindu culture, symbolising both wealth and well-being. Celebrated on the 13th day of the lunar calendar, the festival honours not only financial prosperity but also the birth of Lord Dhanvantri, the divine figure associated with health and medicine, highlighting the importance of both wealth and good health in life. <h2>Dhanteras 2024 Mahurat timings</h2>This year, Dhanteras begins with the Trayodashi Tithi starting at 12:01 AM on October 29 and ending at 2:45 AM on October 30. The best time for the Dhanteras Puja is between 7:27 PM and 9:16 PM on October 29. The Pradosh Kaal will be from 6:37 PM to 9:16 PM. <h2>Rituals</h2>Dhanteras marks the start of the weeklong Diwali celebrations, culminating in Bhai Duj. Families begin the day with cleansing rituals, such as bathing and deep cleaning of their homes, to welcome prosperity. Houses are beautifully decorated with flowers, rangoli designs, and glowing lights to enhance the festive spirit. <div type="Article" hostid="261" msid="79183505" title="Happy Dhanteras 2024 messages and wishes" mstype="2" mssubtype="0"></div> A long-standing tradition during Dhanteras is the purchase of new items—especially gold, silver, and kitchen utensils—as it is believed to bring good luck and prosperity into the household. Many families see this as a way to ensure wealth and success for the coming year. In the evening, they also observe the ritual of <keyword id="23672566" type="General" weightage="20" keywordseo="Yama-Deepam" source="keywords">Yama Deepam</keyword>, where a special four-faced diya with four wicks is lit to honour Lord Yama, the god of death. This act symbolises the removal of fear, negative energy, and obstacles from one’s life, seeking protection and well-being for loved ones. The diya is often placed at the entrance of homes to ward off evil and ensure a bright, positive future. SEE ALSO: <a href="https://www.businessinsider.in/thelife/webstories/dhanteras-2024-auspicious-items-to-buy-and-what-to-avoid/slidelist/114503989.cms" data-type="tilCustomLink" target="_blank">Dhanteras 2024: Auspicious items to buy and what to avoid</a>

Dhanteras 2024: Everything you need to know about rituals, auspicious timings and significance

Festive season is underway and with barely a day left in Diwali, things are in full swing. On the occasion of <keyword id="23288581" type="General" weightage="20" keywordseo="Dhanteras" source="keywords">Dhanteras</keyword> yesterday, quick commerce platforms like <keyword id="20069203" type="General" weightage="100" keywordseo="Blinkit" source="keywords" meta.keywordsubtype="org" meta.entityname="Blinkit" meta.hostid="261" meta.entityid="Blinkit">Blinkit</keyword>, Zepto and <keyword id="19939135" type="General" weightage="20" keywordseo="swiggy-instamart" source="keywords">Swiggy Instamart</keyword> were selling gold and silver coins, promising deliveries of the same within minutes. However, for a Delhi resident, ordering a <keyword id="21592794" type="General" weightage="20" keywordseo="gold-coin" source="keywords">gold coin</keyword> on Blinkit didn't go as expected. <keyword id="21245638" type="General" weightage="20" keywordseo="mohit-jain" source="keywords">Mohit Jain</keyword>, hailing from Delhi, recently shared his dissatisfaction after allegedly receiving the wrong item. According to a post on X, Jain claims he ordered a 1-gram gold coin along with a 10-gram silver coin on Blinkit, only to discover a 0.5-gram gold coin in the package instead. According to Jain, the order was prepaid, and he wasn’t home at the time of delivery, so he had his younger brother handle the transaction. After providing his brother with the necessary OTP, Jain was confident everything was okay. However, upon returning home 20 minutes later, he was dismayed to find the wrong coin in the delivery—an issue that only grew as he tried to resolve it. In a detailed post shared on X (formerly Twitter), Jain explained how he ordered 1 gm gold coin, but what he received was a 0.5 gm <keyword id="20650343" type="General" weightage="20" keywordseo="Malabar-Gold" source="keywords">Malabar Gold</keyword> coin with a rose design instead. Jain added that he reached out to the delivery agent and "almost cried". "I ordered 1 gm gold coin from blinkit, along with the 1gm silver coin. It was all prepaid. I wasn't there at home to receive the order, so I gave the otp to my younger brother to get it received. After 20 mins I reached home and saw wrong item was delivered I. I got 0.5gm Malabar gold coin (rose design). What I ordered was 1 gm Mata lakshmi gold coin," he wrote. Jain’s struggle didn’t end with the delivery mix-up. By the time he tried to address the issue, the 20-minute return window for the product had expired. Attempts to get in touch with Blinkit’s customer support proved equally frustrating. Jain shared screenshots of his conversation with Blinkit’s customer service team, where the automated response informed him that the return window had closed and suggested only that he “provide feedback to help improve services.” He added, "I couldn't contact any support executive. I called the delivery executive and literally cried while talking to him. He has the photos of coin before the delivery but he said that he can't do anything even after knowing that he delivered the wrong item. I do have CCTV footages too of getting wrong item delivered. Also It was the first and last time of me ordering something so expensive from blinkit as their customer support is pathetic, have to chat with AI bots." In an attempt to back up his claim, Jain also reviewed CCTV footage from his home that showed the delivery of the incorrect item. He posted images of both the 0.5-gram coin he received and the screenshot of his original order, which clearly displayed the request for a 1-gram coin featuring <keyword id="20375971" type="General" weightage="20" keywordseo="goddess-lakshmi" source="keywords">Goddess Lakshmi</keyword>. His tweet quickly gained traction, capturing the attention of other Blinkit users and sparking discussions about the platform’s handling of high-value items.

'I was scammed, cried while talking to delivery executive': Man orders gold coin from Blinkit, claims to receive wrong item

Post the Fed's 50 basis point interest rate cut in September, the yellow metal has been scaling record highs every day. And per a recent <keyword id="22362020" type="General" weightage="20" keywordseo="UBS-report" source="keywords">UBS report</keyword>, its glitter is not going down anytime soon, with gold potentially touching $2,750 by the end of this year, and as much as $2,900 by the third quarter of 2025. Treasury yields, or interest rates have always had an inverse relationship with gold, which is why the metal's demand witnesses a notable uptick, every time the Fed slashes rates. This is because an interest rate cut reduces the yields i.e. returns that investors earn by way of having funds in government treasury bonds. As a result, investors tend to withdraw their money, weakening the dollar, thereby making the yellow metal a lucrative investment option. Going ahead, the markets are anticipating that the Fed will further bring down interest rates again, by around 75-100 basis points by the end of this year. As the CME FedWatch Tool indicates, there is now a 62.2% chance that the Fed will cut down interest rates by another 50 basis point during its meeting in November. This is also why <keyword id="19910265" type="General" weightage="20" keywordseo="gold-prices" source="keywords">gold prices</keyword> have been seeing a healthy growth in both domestic and international markets. According to a report by Angel One, the demand of safe-haven gold is only set to go up in the months to come. Apart from Fed's rate cuts and the upcoming <keyword id="20585365" type="General" weightage="20" keywordseo="US-elections" source="keywords">US elections</keyword>, there are tensions brewing globally on the geo-political front, with militant group Hezbollah's leader <keyword id="22445260" type="General" weightage="20" keywordseo="sayyed-hassan-nasrallah" source="keywords">Sayyed Hassan Nasrallah</keyword> killed in a powerful airstrike in Beirut. This has dealt a heavy blow to the Iran-backed group, as it reels from an escalating campaign of Israeli attacks. "In such times, zero-yield bullion tends to be a preferred investment, more likely so in a low-interest rate environment and also, during geopolitical turmoil", the note added. <h2>Momentum set to continue </h2>The bullion recently touched an all-time high price of $2,670 on September 24th, 2024, and has rallied as much as 10% during the past 6 months. Closer home, we are approaching the festive season, as India gears up to celebrate festivals like Diwali (Dhanteras) and Akshaya Tritiya in October. These have long been associated with heightened gold purchases in the country. Particularly, Dhanteras sees a surge in gold buying as it is considered an auspicious time to acquire new assets, majorly gold. As the UBS report states, "the metal's current elevated starting point provides increased scope for gains in the coming months, particularly as ETF demand accelerates. We recommend gold as a strategic hedge within a diversified portfolio, suggesting a 5% allocation to the precious metal". Alekh Yadav, Head of Investment Products at Sanctum Wealth, also advises making some allocation to gold in your portfolio, since gold has a negative correlation with equities; whenever equity markets correct, gold typically performs better. Given that US markets are currently at elevated valuations, gold can serve as a hedge against potential global equity corrections, he explains. "In conclusion, we believe that some allocation to gold, even at current levels, makes sense as a hedge against global risks", he continues. As a thumb rule, you should always have anywhere between 5-10% allocation to gold via digital gold, gold bonds, exchange traded funds (ETFs), sovereign gold bonds (SGBs) etc., since it serves as an effective hedge against inflation, and declining yields. Note that your allocation to gold should not be arbitrary or as a lumpsum, but rather in sync with your overall financial goals, and also, should be increased gradually, via SIPs. However, during prevailing economic conditions, increasing your investments in gold might not be a bad idea as well. But remember to consult with your financial planner over this. Over-investing in gold is also not advisable, since the asset class does not generate high-returns, which means a significant potion of your money could be stuck in a non-yield generating asset, when it could have been in equities or other assets, which generate comparatively more returns.

Is this a good time to invest in gold? Here's what experts are saying

<ul><li>Jewellers, like every year, have come up with offers to make <keyword id="18712" type="General" weightage="20" keywordseo="gold" source="Orion">gold</keyword> buying attractive on <keyword id="4067" type="General" weightage="20" keywordseo="dhanteras" source="Orion">Dhanteras</keyword>. </li><li>Experts say that if you are buying <keyword id="6354387" type="General" weightage="20" keywordseo="jewellery" source="Orion">jewellery</keyword> for personal consumption then it is a good time to buy. </li><li>However, if you are buying for the purpose of an <keyword id="6355120" type="General" weightage="20" keywordseo="investment" source="Orion">investment</keyword>, there are other investment avenues. </li></ul>What’s more auspicious than gold, especially as we step into the festive season. Indians believe that the more gold you buy during Dhanteras, the better would be your fortunes. While experts are unsure of how good physical gold is for your portfolio, jewellers are doing their best to bring in consumers into their stores. Capitalising on the love for bling, and women who want to add to their jewellery box, retailers are wooing hard this season. Be it free 1 gm gold coins on purchases, or <keyword id="112217" type="General" weightage="20" keywordseo="discounts" source="Orion">discounts</keyword> in making charges — most jewellers want consumers to go for physical gold. “In addition to our collections, we are offering discounts to our valued customers. We are providing discounts on the making charges for gold jewellery. Our goal is to enable customers to make the most of this auspicious opportunity and get the best offers, particularly for the upcoming wedding season,” says Suvankar Sen, MD &amp; CEO of Senco Gold &amp; Diamonds. Tanishq is currently providing a discount of up to 20% on the making charges for gold jewellery. “Most of the jewellers, be it online or offline offer discounts on making charges to attract customers in the festive season. Some jewellers are offering various freebies, premiums over used gold and even a chance to design a unique piece of jewellery this Diwali,” says Sachin Kothari, director At Augmont Gold For All, an integrated gold player. Now, comes the question of gold as an investment. In spite of gold gaining ground as a safe haven asset in times of volatility and a new war, global gold demand in Q3 2023 dropped by six percent, on reduced interest in gold bars and coins, as well as diminished demand from central banks. As Diwali approaches, the price of gold is on the rise thanks to geopolitical tensions and the US Federal Reserve decision to hold on to high-interest rates. However, India, world's second-largest consumer of gold, is bucking the trend. There is an increase of 10% in gold demand in the same period. Globally, jewellery demand dipped by 1% on account of high gold prices. But here too, Indian jewellers hope that consumer love for gold demand will hold on. <cmsannotation type="cmsannotation" annotationid="Experts not keen on physical assets" comment="Subhead" text="Experts not keen on physical assets">Experts not keen on physical assets</cmsannotation> So, should consumers give in to the temptation of building physical gold assets amidst volatile prices and uncertainty? “Dhanteras is basically a time to make a purchase to grow your wealth. What you should do is an investment and not an expenditure. Jewellery is an expenditure. Making charges can be about 25% and further when you sell it you can lose another 10-15%. So it is not worth it,” says B Srinivasan, director and founder, Shree Sidvin Investment Advisors. Som if you are buying some jewellery for the sake of buying jewellery or as a gift, you can do it. With the various offers jewellers are providing it might be a good time to do that. But this will not serve the purpose of an investment. For those looking at an investment, there are better options than bangles, earrings or necklaces. “If you are buying for consumption then obviously physical gold has no other alternative but if your purpose is pure investment then the best is sovereign gold bond (SGB),” says Anant Ladha, founder, Invest Aaj For Kal, a financial advisory firm. There are three major advantages of SGBs. First, there is no making charges or risk of purity. Further one may get 2.5% additional interest over and above per annum. Though the interest is entirely taxable at current tax slabs, any capital gains earned at the end of eight years is entirely tax free. Investing in gold through digital gold platforms, gold Exchange-Traded Funds (ETFs), and gold mutual funds also offer flexible options to invest in gold. Digital gold allows for easy, small-scale investments, while Gold ETFs provide the convenience of stock market trading. Gold MFs, on the other hand, offer professional management of your gold investments. But then again, will it give the same satisfaction of it hanging on your neck as it will in the portfolio? That’s a call that consumers will have to take.

Jewellers woo consumers this Dhanteras but experts advise caution

<keyword id="4067" type="COMPANY" weightage="20" keywordseo="Dhanteras" source="Orion">Dhanteras</keyword> is celebrated on the first day of the five day long <keyword id="451596" type="PERSON" weightage="20" keywordseo="Diwali-festival" source="Orion">Diwali festival</keyword>. The suffix ‘Teras’ in Hindi is synonymous with the word Trayodashi in Sanskrit which refers to the thirteenth day of the waning phase of the moon. The different rituals connected to Dhanteras aim at praying for the prosperity of the household and the health and long life of the husband. On the day of Dhanteras, many households perform Laxmi puja. Dhanteras sets the auspicious and celebrative mood for the <keyword id="3405" type="PERSON" weightage="20" keywordseo="Diwali-celebrations" source="Orion">Diwali celebrations</keyword>. Here is a highly interesting mythological story connected to Dhanteras. <cmsannotation type="cmsannotation" annotationid="The mythology story behind Dhanteras" comment="subhead" text="The mythology story behind Dhanteras">The mythology <keyword id="8248231" type="General" weightage="100" keywordseo="story-behind-dhanteras" source="Orion">story behind Dhanteras</keyword></cmsannotation> Once upon a time, there was a king named Hima who ruled over his kingdom with justice and love as the two tools of his governance. He had a son and the astrologers predicted that his son would face the end of his life due to snake bite on his sixteenth year. A sense of deep anguish tormented King Hima’s heart and he searched for ways to save his son’s life. As per the advice of a renowned astrologer, he got his son married to a girl who had a lucky horoscope. The couple lived happily for a few years. The boy neared his sixteenth year and the king started worrying about the impending death of his son. The girl launches an adventure The astrological predictions said a snake would bite the boy when he stepped into his sixteenth year of life on the earth. On the eve of the boy’s sixteenth birthday, the girl hatched a clever plan to save the life of her husband. She gathered all her jewels and piled them up in front of the main door. She advised her husband not to sleep and she too stayed awake throughout the night. She sat near the entrance of the home guarding the main door. Lord Yama arrives story During the appointed hour of taking the boy’s life, Lord Yama, the god of death arrived in front of the house in the form of a serpent. The snake crawled its way to the main door of the house. When the snake was about to enter the door, the pile of ornaments stopped it on the way. The ornaments were so dazzling that the snake could not see anything around it clearly. Meanwhile, the girl kept singing melodious songs throughout the night. The songs were so alluring that the snake stayed at the doorstep enjoying the songs. The time to take the life of the boy elapsed and Lord Yama in the form of snake had to give up his mission. Thus the witty idea of the girl helped save the life of her husband. Dhanteras was born story This legend gave rise to the event of Dhanteras celebrated year on year on the same day of Krishna Paksha Trayodashi in the month of Kartika just before the Diwali festival. The popular belief among the Hindus has helped continue this holy tradition that says Dhanteras is the surest way to invite prosperity into the household and seek the long life of the husband.

Dhanteras 2023: what is the story behind Dhanteras

Gold prices ended the last month 0.7 per cent lower, supported by a depreciating rupee and festive demand for Diwali and <keyword id="4067" type="General" weightage="20" keywordseo="dhanteras" source="Orion">Dhanteras</keyword>, said <keyword id="1036842" type="General" weightage="50" keywordseo="quantum-asset-management-company" source="Orion">Quantum Asset Management Company</keyword> (AMC). On the other hand, the yellow metal prices in the international markets were down by two per cent and ended October 2022 close to $1,638 per ounce. The fall in gold prices was a result of higher-than-expected September readings of US Consumer Price Inflation (CPI) and <keyword id="15433519" type="General" weightage="50" keywordseo="us-core-personal-consumption-expenditure" source="Orion">US Core Personal Consumption Expenditure</keyword> (Core PCE) at 8.2 per cent and 5.1 per cent, respectively, which increased investor anticipation of aggressive policy moves by the US central bank, <keyword id="594214" type="General" weightage="100" keywordseo="quantum-amc" source="Orion">Quantum AMC</keyword> said. Gold is entering November expecting the <keyword id="6356435" type="General" weightage="50" keywordseo="us-federal-reserve" source="Orion">US Federal Reserve</keyword>'s fourth consecutive 75 basis point hike, as the latest data from the US economy shows that consumer spending, job openings, wage growth, and inflation expectations haven't cooled off. Given that gold registered a seventh consecutive monthly decline in October, current prices can be a good entry point for gold investors to capitalise on the upside in prices from the recession, risk aversion, and end-to-rate hikes that are to eventually follow, Quantum AMC said. According to Quantum AMC, indicative of the prevailing global uncertainty and need for diversification, global central banks bought a record 399 tons of gold ($20bn) last quarter taking full-year purchases to 673 tons, the highest since 1967. Investors too should acknowledge the risks in the current economic environment and diversify their portfolios with a gold allocation, it added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/edtech-major-byjus-sacks-thousands-and-then-hires-lionel-messi/articleshow/95301630.cms">Edtech major BYJU's sacks thousands, and then hires Lionel Messi</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/samsung-logs-its-best-ever-diwali-sales-to-tune-of-14400-crore-in-sep-oct/articleshow/95302814.cms">Samsung logs its best ever Diwali sales to tune of ₹14,400 crore in Sep-Oct</a>

Investors can buy gold to diversify risk: Quantum AMC

<keyword id="1392572" type="PERSON" weightage="20" keywordseo="automobile-dealers">Automobile dealers</keyword>' body FADA on Tuesday said <keyword id="762866" type="PERSON" weightage="20" keywordseo="passenger-vehicle">passenger vehicle</keyword> (PV) retail sales in November witnessed a year-on-year increase of 4.17 per cent to 2,91,001 units as <keyword id="8202952" type="COMPANY" weightage="20" keywordseo="diwali-dhanteras">Diwali-Dhanteras</keyword> period led to rise in <keyword id="815780" type="PERSON" weightage="20" keywordseo="Vehicle-registrations">vehicle registrations</keyword>. According to <keyword id="9396466" type="COMPANY" weightage="20" keywordseo="the-federation-of-automobile-dealers-associations">the Federation of Automobile Dealers Associations</keyword> (FADA), which collected vehicle registration data from 1,265 out of the 1,472 regional transport offices (RTOs), PV sales stood at 2,79,365 units in November 2019. Two-wheeler sales, however, declined 21.4 per cent to 14,13,378 units last month, as compared to 17,98,201 units in November 2019. Commercial vehicle sales also slipped 31.22 per cent to 50,113 units, as against 72,863 units a year ago. Similarly, three-wheeler sales fell 64.98 per cent to 24,185 units last month, from 69,056 units in the year-ago period. Tractor sales, however, grew by 8.47 per cent to 49,313 units last month, against 45,462 units in the same month last year. Total sales across categories declined 19.29 per cent to 18,27,990 units last month, compared to 22,64,947 units in the year-ago period. "While registrations during Navratri were tepid, people came out in good numbers to purchase their dream vehicles during the Dhanteras - Diwali period," <keyword id="9993894" type="UNKNOWN" weightage="20" keywordseo="fada-president-vinkesh-gulati">FADA President Vinkesh Gulati</keyword> said. New launches and specially compact SUV's continued to show good demand in the PV segment, he added. The two-wheeler segment continued to witness a shift from 100cc to 125cc and above category due to good harvesting coupled with Dhanteras-Diwali and marriage season, Gulati said. Commenting on small goods commercial vehicles, he said the segment continued to see good demand with increased level of transportation and last-mile connectivity needs. With schools and colleges continuing to remain closed, demand for buses remains weak. Similarly, the medium and heavy commercial vehicle (M&amp;HCV) segment continues to play spoilsport with excessive capacity, high prices of BS-VI models, finance issues and high fuel price, Gulati noted. "FADA once again urges the government to increase infrastructure spending, including timely payment to vendors and introduce attractive incentive based scrappage policy to revive the M&amp;HCV segment," he added. On sales outlook, Gulati said with the festive season coming to a close, demand revival now solely depends on year-end schemes. "If the supply chain issues in the passenger vehicle segment are controlled, we may see continued growth in December," he added. Gulati also cautioned the two-wheeler Original Equipment Manufacturer (OEMs) and dealers to keep a check on vehicle inventory as post festivals, demand may remain subdued. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/bharat-biotech-applies-for-emergency-use-approval-for-its-covid-19-vaccine-covaxin/articleshow/79617391.cms" data-type="tilCustomLink">Bharat Biotech applies for emergency use approval for its COVID-19 vaccine Covaxin</a> <a href="https://www.businessinsider.in/science/health/news/covid-19-vaccine-in-india-expert-panel-to-review-pfizer-serum-and-bharat-biotechs-emergency-use-application-tomorrow/articleshow/79617336.cms" data-type="tilCustomLink">COVID-19 vaccine in India: Expert panel to review Pfizer, Serum and Bharat Biotech's emergency use application tomorrow</a>

Passenger vehicle retail sales rise 4%, two-wheelers decline 21% despite festive boost: FADA

Gold and gold ornaments are something integral to Indian tradition. Gold is considered as a symbol of luck, prosperity, abundance and auspiciousness. In fact people see gold as embodying Goddess Lakshmi, the goddess of wealth in it. <cmsannotation type="cmsannotation" annotationid="Indians love gold" comment="subhead" text="Indians love gold">Indians love gold</cmsannotation> Indian households take a sentimental interest in buying gold. India has recently overtaken China in becoming the largest importer of gold on the earth. People consider it auspicious to <keyword id="2329317" type="PERSON" weightage="20" keywordseo="buy-gold" source="Orion">buy gold</keyword> on festivals like Makar Sankranti, Dussehra, Navratri, Gudi Parva, <keyword id="188" type="ENTERTAINMENT" weightage="20" keywordseo="Diwali" source="Orion">Diwali</keyword>, Akshaya Tritiya and <keyword id="4067" type="COMPANY" weightage="20" keywordseo="Dhanteras" source="Orion">Dhanteras</keyword>. It is considered highly auspicious to <keyword id="8248136" type="General" weightage="20" keywordseo="buy-gold-on-dhanteras" source="Orion">buy gold on Dhanteras</keyword>. Some of the beliefs attesting this tradition are discussed here. <cmsannotation type="cmsannotation" annotationid="Shopping for gold on Dhanteras" comment="subhead" text="Shopping for gold on Dhanteras">Shopping for <keyword id="6994209" type="General" weightage="20" keywordseo="gold-on-dhanteras" source="Orion">gold on Dhanteras</keyword></cmsannotation> On the day of Dhanteras, the sale of gold reaches one of its annual peaks in India. The term Dhanteras translates as dhan (wealth) teras (thirteenth day). People buy gold bars, gold ornaments, gold coins silver coins or silver ware on this day. <cmsannotation type="cmsannotation" annotationid="The legend behind Dhanteras" comment="subhead" text="The legend behind Dhanteras">The legend behind Dhanteras</cmsannotation> Once upon a time, there was a king named Hima. He had a son of sixteen years. The king got him married to a girl. Astrologers predicted that the prince would die of snake bite on the fourth day of his marriage. This information made the king and the bride misery stricken. The bride was a clever and highly devoted girl. She hatched a plan to save the life of her husband. <cmsannotation type="cmsannotation" annotationid="Dhanteras is celebrated for the first time" comment="subhead" text="Dhanteras is celebrated for the first time">Dhanteras is celebrated for the first time</cmsannotation> On the day when the astrologers had predicted the death of the boy, the girl collected all the ornaments and gold in the palace and placed them in a heap in front of the main door. She advised the prince not to sleep and sat with him narrating some interesting stories and singing some melodious songs. The couple sat awake throughout the night. <cmsannotation type="cmsannotation" annotationid="Lord Yama arrives" comment="subhead" text="Lord Yama arrives">Lord Yama arrives</cmsannotation> During the scheduled time of taking the prince’s life, Lord Yama arrived near the palace. He took the form of a serpent which was supposed to bite the prince to death. As the serpent neared the main door of the palace, the heap of ornaments and valuables blocked its way, the dazzling brilliance of the items nearly blinded the vision of the snake. The snake could not enter the palace. Meanwhile, the snake was charmed by the melodious songs sung by the girl. Hence the snake laid there all night long listening to the songs. <cmsannotation type="cmsannotation" annotationid="The time of death lapses" comment="subhead" text="The time of death lapses">The time of death lapses</cmsannotation> The time that the planets had scheduled for the prince’s death elapsed and the serpent lost its mood to bite the prince. Lord Yama in the disguise of the snake left the house without taking the life of the prince. Thus, with her clever strategies and devotion to God, the girl could successfully save the life of the prince. <cmsannotation type="cmsannotation" annotationid="Dhanteras tradition begins" comment="subhead" text="Dhanteras tradition begins">Dhanteras tradition begins</cmsannotation> The legend of how the prince was saved from death inspired the tradition of buying gold on the day of Dhanteras. Gold is kept in puja on the day and a lamp known as Yama Deep is lit in front of the main door seeking the blessings of Lord Yama and goddess Lakshmi.

Why Indian people purchase gold on Dhanteras festival

Diwali is the time when you have to review your investment portfolio and make some positive moves for betterment. If you are looking for some good mutual fund options to invest during this Diwali, here is a review of some wonderful choices that a lot of seasoned investors are considering right now. <table style="border-width: initial; border-style: none;"> <tbody><tr> <td style="width: 40.25pt; border-width: 1pt; border-style: solid; border-color: windowtext; background: rgb(156, 194, 229); padding: 0cm 5.4pt;"> SI. No. </td> <td style="width: 115.55pt; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left-width: initial; border-left-style: none; background: rgb(156, 194, 229); padding: 0cm 5.4pt;"> Fund Name </td> <td style="width: 77.9pt; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left-width: initial; border-left-style: none; background: rgb(156, 194, 229); padding: 0cm 5.4pt;"> Total Asset Value (Assets under management) </td> <td style="width: 117.05pt; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left-width: initial; border-left-style: none; background: rgb(156, 194, 229); padding: 0cm 5.4pt;"> Unit price (Net asset value or per share market value) </td> <td style="width: 45pt; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left-width: initial; border-left-style: none; background: rgb(156, 194, 229); padding: 0cm 5.4pt;"> 1-Year return </td> <td style="width: 71.75pt; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left-width: initial; border-left-style: none; background: rgb(156, 194, 229); padding: 0cm 5.4pt;"> 3-Year return </td> </tr> <tr> <td style="width: 40.25pt; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-top-width: initial; border-top-style: none; padding: 0cm 5.4pt;"> 1. </td> <td style="width: 115.55pt; border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: windowtext; border-right-width: 1pt; border-right-color: windowtext; background: rgb(156, 194, 229); padding: 0cm 5.4pt;"> Kotak India EQ Contra Fund - Growth </td> <td style="width: 77.9pt; border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: windowtext; border-right-width: 1pt; border-right-color: windowtext; padding: 0cm 5.4pt;"> ₹ 859.47 Cr </td> <td style="width: 117.05pt; border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: windowtext; border-right-width: 1pt; border-right-color: windowtext; padding: 0cm 5.4pt;"> ₹ 53.266 </td> <td style="width: 45pt; border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: windowtext; border-right-width: 1pt; border-right-color: windowtext; padding: 0cm 5.4pt;"> 14.3% </td> <td style="width: 71.75pt; border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: windowtext; border-right-width: 1pt; border-right-color: windowtext; padding: 0cm 5.4pt;"> 11.31% </td> </tr> <tr> <td style="width: 40.25pt; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-top-width: initial; border-top-style: none; padding: 0cm 5.4pt;"> 2. </td> <td style="width: 115.55pt; border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: windowtext; border-right-width: 1pt; border-right-color: windowtext; background: rgb(156, 194, 229); padding: 0cm 5.4pt;"> Mirae Asset Tax Saver Fund – Regular Plan - Growth </td> <td style="width: 77.9pt; border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: windowtext; border-right-width: 1pt; border-right-color: windowtext; padding: 0cm 5.4pt;"> 2,465.46 Cr </td> <td style="width: 117.05pt; border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: windowtext; border-right-width: 1pt; border-right-color: windowtext; padding: 0cm 5.4pt;"> ₹ 17.867 </td> <td style="width: 45pt; border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: windowtext; border-right-width: 1pt; border-right-color: windowtext; padding: 0cm 5.4pt;"> 15.14% </td> <td style="width: 71.75pt; border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: windowtext; border-right-width: 1pt; border-right-color: windowtext; padding: 0cm 5.4pt;"> 12.48% </td> </tr> <tr> <td style="width: 40.25pt; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-top-width: initial; border-top-style: none; padding: 0cm 5.4pt;"> 3. </td> <td style="width: 115.55pt; border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: windowtext; border-right-width: 1pt; border-right-color: windowtext; background: rgb(156, 194, 229); padding: 0cm 5.4pt;"> Canara Robeco Equity Tax Saver – Regular Plan - Growth </td> <td style="width: 77.9pt; border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: windowtext; border-right-width: 1pt; border-right-color: windowtext; padding: 0cm 5.4pt;"> ₹ 965.21 Cr </td> <td style="width: 117.05pt; border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: windowtext; border-right-width: 1pt; border-right-color: windowtext; padding: 0cm 5.4pt;"> ₹ 66.79 </td> <td style="width: 45pt; border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: windowtext; border-right-width: 1pt; border-right-color: windowtext; padding: 0cm 5.4pt;"> 18.67% </td> <td style="width: 71.75pt; border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: windowtext; border-right-width: 1pt; border-right-color: windowtext; padding: 0cm 5.4pt;"> 10.28% </td> </tr> </tbody></table> Kotak India EQ Contra Fund – Growth Kotak India EQ Contra Fund – Growth fund enjoys a 97% investment in Indian stocks out of which about 72.02% is found with large cap stocks and 15.39% is lying with mid cap stocks. This fund reports about 0.01% investment in Debt out of which 0.01% in funds has been invested in very low risk securities. Kotak India EQ Contra Fund is highly suitable for you if you are a seasoned investor with an advanced knowledge about the macro trends and prepared for selective bets for the sake of getting high returns when compared to other equity funds. Nevertheless, you must be prepared to face the possibility of moderate or higher losses in your investments even if the overall market is seen doing better. This fund has significantly improved its performance over the years when compared to the other contra fund vehicles of similar nature. If you are an existing investor, you can continue your SIPs or investments. If you are new to this fund, jump in to start a fresh investment now. Mirae Asset Tax Saver Fund – Regular Plan – Growth Mirae Asset Tax Saver Fund – Regular Plan – Growth is found to have 99.69% investment in Indian stocks. Out of this, about 62.63% is held in large cap stocks and 18.31% is found with mid cap stocks. The percentage lying with the small caps stocks is 8.2. Mirae Asset Tax Saver Fund – Regular Plan – Growth will best suit investors who wish to keep their investment growing over a 3 year period. This fund will also meet your concerns regarding tax saving besides higher returns. Over a three year lock in period, you might also expect some losses. Canara Robeco Equity Tax Saver – Regular Plan – Growth Canara Robeco Equity Tax Saver – Regular Plan – Growth has 94.98% investment in Indian stocks. Out of this, 65.1% is in found with large cap stocks and 15.61% is lying with mid cap stocks. The remaining 2.96% is with small cap stocks. When compared to other funds in the ELSS category, this fund has remarkably improved its performance over the recent past. If you are an existing investor, it is worth continuing your SIP or investment in this fund. You can also think of making fresh investments in this mutual fund. See Also: <a data-type="tilCustomLink">Top performing mutual funds in India 2019</a>

Top Mutual Funds to invest this Diwali for the long-term prosperity of your family

<ul><li>With Diwali festivities just around the corner, digital payment platforms such as <keyword id="143842" type="COMPANY" weightage="20" keywordseo="Mobikwik">Mobikwik</keyword>, PayTm and Google Pay are luring Indians with smart investment option — <keyword id="4465249" type="PERSON" weightage="20" keywordseo="digital-gold">digital gold</keyword>. </li><li>Mobikwik has launched a festive exchange which will allow converting 1 gram of digital gold in exchange for the gold jewellery. It will also add 1 gm of digital gold in buyer’s account. </li><li>The offer is valid between October 23 and 28, 2019. </li><li>Digital gold can be bought in quantities as low as ₹1.</li></ul>With Diwali festivities around the corner, digital payment platforms such as Mobikwik, PayTm and Google Pay are luring Indians with smart investment options — digital gold. With gold soaring a six year high this Diwali, there isn’t much of a rush to buy gold. Jewellers too are trying to attract buyers with promotional offers. Meanwhile, Mobikwik launched a festive exchange, in partnership with SafeGold. SafeGold is a joint venture between Invent Capital, a private equity firm, and <keyword id="113718" type="ORGANIZATION" weightage="20" keywordseo="World-Gold-Council">World Gold Council</keyword>. The ‘exchange one get one’ offer will allow converting 1 gram of digital gold in exchange for gold jewellery. Additionally, it will add 1 gm of digital gold in buyer’s account. The offer is valid between October 23 and 28, 2019. “Indians have always had a passion for buying gold, particularly on auspicious occasions. Demand for gold is interwoven with culture, tradition, and planning for financial protection in times of crisis,” Upasana Taku, Co-founder, MobiKwik<a href="https://www.zeebiz.com/personal-finance/news-planning-to-buy-gold-on-diwali-this-platform-is-giving-double-than-what-you-pay-for-112891"> told </a>Zee Business. ‘Digital gold’ is the buying and selling of gold via mobile wallets and digital platforms. From gold coins and bars to gold jewellery, the platforms offer gold in digital form. The digital method allows one to buy 99.9% 24 karat gold. And it can be bought in quantities as low as ₹1 or grams digitally — which can be redeemed at a jewellery or gold store. However, the prices of digital gold are highly volatile. So, the price is valid for merely 6 minutes. Users can buy digital gold via online wallets and store it in online accounts — which are linked to Gold Accumulation Plan (GAP). While the <a href="https://www.business-standard.com/article/pf/digital-gold-a-convenient-investment-method-or-a-ponzi-scheme-in-making-119041800720_1.html">prices of gold</a> may vary between 4%-5% on the retail price of gold from the actual price, the price variation on digital gold is said to vary between 1.5% to 2%. It can be kept for a maximum of five years and there is no extra storage cost. Ever since the launch, the digital gold market has seen strong growth. It estimated over 80 million people who had digital accounts as of March 2019. See also: <a href="https://www.businessinsider.in/business/startups/news/diwali-sales-snapdeal-launches-an-online-store-for-dhanteras-will-sell-gold-coins/articleshow/71704385.cms">Snapdeal launches an e-store for Dhanteras – with gold, silver coins and more</a> <a href="https://www.businessinsider.in/google-pays-new-tactic-to-take-on-rivals-paytm-phonepe-in-india-introduces-digital-gold-offerings/articleshow/68609832.cms">Google Pay wants to offer Indians their favourite investment option – gold</a>

Can’t afford gold coins or jewellery this Diwali? You can now buy gold worth ₹1

<ul><li>Over the years, there were growing calls by the Hindu community to declare <keyword id="188" type="General" weightage="100" keywordseo="diwali" source="Orion">Diwali</keyword> a school holiday. </li><li>Banks said <keyword id="6355838" type="General" weightage="80" keywordseo="new-york" source="Orion">New York</keyword> City is home to the whole world and children from all communities and backgrounds go to school here.</li><li>Consul General of India in New York Randhir Jaiswal thanked Adams for making Diwali a school public holiday.</li></ul> In a significant decision, Diwali will be a public school holiday in New York City starting 2023, with Mayor Eric Adams saying this sends a message about the significance of the city's inclusiveness and this "long overdue" step will encourage children to learn about the festival of lights. Adams, joined by New York Assembly Member Jenifer Rajkumar and New York City Schools Chancellor David Banks, said Thursday that in conversations on the campaign trail around how to run the state better, he "learned so much" about the Diwali holiday and what this festival means. He said that by declaring Diwali a holiday in New York City public schools, "we wanted to send a loud and clear message to the countless number of people who acknowledge this period of time of celebration. "At the same time, this is an educational moment because when we acknowledge Diwali, we are going to encourage children to learn about Diwali. We're going to have them start talking about what it is to celebrate the festival of lights, and how to turn the light on within yourself," he said. Consul General of India in New York Randhir Jaiswal thanked Adams for making Diwali a school public holiday. "This had been a long pending <keyword id="15308237" type="TOPIC" weightage="60" keywordseo="Demand" source="TOPIC" sourcekeytype="economy,investopedia" meta.keywordsubtype="null" meta.msid="92562122" meta.seopath="d/demand" meta.entityname="Demand" meta.hostid="153" meta.entityid="demand">demand</keyword> of the Indian-American community. The recognition gives a deeper meaning to diversity and pluralism in New York City while allowing people from all walks of life to experience, celebrate and enjoy Indian ethos and heritage," he told PTI. Rajkumar, the first South Asian-American woman ever to be elected to a state office in New York, said that today she is proud to say that "our time has come. The time has come to recognise over 200,000 New Yorkers of the Hindu, Buddhist, <keyword id="28599" type="General" weightage="50" keywordseo="sikh" source="Orion">Sikh</keyword> and Jain faiths who celebrate Diwali, the festival of lights." Adams said "as we deal with so much darkness that is around us, we fail to realise the overwhelming amount of light that is around us. And when we take this period to acknowledge Diwali, we are acknowledging the light that is within us, the light that clearly can push away darkness and that is why this is so significant." Adams added that the city has identified public holidays like <keyword id="15315768" type="General" weightage="50" keywordseo="eid-and-lunar-new-year" source="Orion">Eid and Lunar New Year</keyword>. "We do it with so many other days and so many other cultures that we acknowledge. It is long overdue to say to our Hindu, Sikh, Jain, and Buddhist students and communities that, we see you, we acknowledge you. The inclusiveness of this city is extremely significant and this is our opportunity to say that in a loud way." Over the years, there were growing calls by the Hindu community to declare Diwali a school holiday given the hundreds of thousands of Indians living in the area. Once the legislation goes through, Diwali will be a school holiday in the City of New York starting next year. Rajkumar noted that people have said that there is simply not enough room in the <keyword id="15315767" type="General" weightage="50" keywordseo="new-york-city-school" source="Orion">New York City School</keyword> calendar to have a Diwali school holiday. This week, Rajkumar introduced legislation in the state <keyword id="15311128" type="TOPIC" weightage="60" keywordseo="Capital" source="TOPIC" sourcekeytype="finance,investopedia" meta.keywordsubtype="null" meta.msid="92540240" meta.seopath="c/capital" meta.entityname="Capital" meta.hostid="153" meta.entityid="capital">capital</keyword> that makes room for Diwali in the school calendar. She said her legislation removes Anniversary Day, an "obscure and antiquated" day created in the 1800s so that it can be replaced with Diwali, "celebrated by a growing number of New Yorkers." "When this is done, the New York City Department of Education will be able to institute the Diwali holiday on the school calendar," she said, adding that she has brought this bill to the table so that all South Asian and Indo-Caribbean New Yorkers will have a seat at the table. According to New York State education laws, there must be a minimum of 180 days of school instruction. However, in order to meet this 180-day minimum requirement, no more holidays could be instituted in the school calendar. Rajkumar said that by removing the antiquated Anniversary Day school holiday that is observed by no one, her legislation makes the room for Diwali to be a school holiday while also meeting the 180-day minimum requirement for days of school instruction. She thanked Adams for his support, saying this is the first time in the history of the city that a mayor has committed to making Diwali a school holiday. "For over two decades South Asians and Indo-Caribbeans in New York have been fighting for the Diwali school holiday. I stand on the shoulders of those advocates. And now we are finally going to realise that goal," she said. "Next week we will celebrate Diwali, a celebration of good over evil, light over darkness, of the human ability to overcome, exemplified by <keyword id="52950" type="General" weightage="50" keywordseo="rama" source="Orion">Rama</keyword>'s defeat of evil. We will celebrate the Hindu principles of interfaith, harmony, love, and tolerance for all New Yorkers. The same Hindu principles inspired the great American civil <keyword id="15315769" type="TOPIC" weightage="60" keywordseo="Rights" source="TOPIC" sourcekeytype="entertainment,investopedia" meta.keywordsubtype="null" meta.seopath="r/rights" meta.entityname="Rights" meta.hostid="153" meta.entityid="rights">rights</keyword> hero, <keyword id="95368" type="General" weightage="50" keywordseo="martin-luther-king" source="Orion">Martin Luther King</keyword>. We will celebrate our culture's place in the great civil rights tradition of our country. The sky is the limit for our community," she said. Banks said New York City is home to the whole world and children from all communities and backgrounds go to school here. "And it is important that we honour and we recognise all of our young people. And so the recognition of Diwali is yet another opportunity for us to begin to celebrate, to uplift and to honour those young people, their family and their faith. The celebration of light, the triumph of light over darkness is critically important." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/ed-freezes-bitcoins-worth-rs-7-12-crore-in-e-nuggets-gaming-app-case/articleshow/95002038.cms">ED freezes Bitcoins worth Rs 7.12 crore in E-nuggets gaming app case</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/diwali-celebrations-begin-at-times-square-vp-kamala-harris-and-former-prez-donald-trump-to-attend/articleshow/95001470.cms">Diwali celebrations begin at Times Square: VP Kamala Harris and former Prez Donald Trump to attend</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/should-you-buy-gold-this-dhanteras/articleshow/94997439.cms">Should you buy gold this Dhanteras?</a>

You Searched For "diwali dhanteras" and got 12 results

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