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<strong><em><strong><em>“Ye le beta, humare </em></strong>khaandani sone ke gehne. Ise girvi rakhva de, shayad kuch paise aa jaye ghar main.”<br /><strong><em></em></strong></em></strong><br />How many times have we seen similar dialogues repeat itself in Bollywood films of the 70s and 80s—abject poverty and a frail-looking old mother pleading to her son to pawn the family’s heirloom gold ornaments to a jeweller, all to get a few bucks?<br /><br />Well, if you’d ask that son in 2024, he’d rather hit the loan button on his <keyword id="105386" type="General" weightage="20" keywordseo="Demat-account" source="Orion">Demat account</keyword> than pawn his mother’s gold jewellery. Given how Indians are rapidly resorting to taking loans against their investments in shares and mutual funds, these might as well be a cherished family heirloom in today’s time.<br /><br />Fair warning though; it's not as if gold and loans against it are going down in India’s lending scene. It's very much the opposite, shining brighter than ever! The secured loan category is having its time in the spotlight, and people are certainly looking beyond land and property to get their hands on some extra monies!<br /><br />But what is funding the steep rise behind these loans? And are they as failsafe and secure as they’re made out to be? We decode for you in this week’s Simply Put.<br /><br /><h2 style="margin-bottom: 0.7em; line-height: 1.3; color: rgb(0, 0, 0); font-size: 24px; background: 0px 0px; text-rendering: optimizelegibility;">The great Indian pawning party</h2>Pawning one’s gold has been, by far, the OG Indian financial move to get a loan. That continues well into 2024, and apparently, more so when India decides to wed and celebrate!<br /><br />Data from <keyword id="30067" type="General" weightage="20" keywordseo="RBI" source="Orion">RBI</keyword> suggests that the outstanding amount on gold loans has swelled from Rs 85,009 crore in September 2022 to Rs 1,47,081 crore in September 2024. It looks like Gold took the motto of rise and shine too seriously!<br /><br /><strong>Table 1: Growth in gold loans</strong><br /><table class="redcator-table-advance" style="border-width: initial; border-style: none; background-color: rgb(255, 255, 255); font-size: 16px; line-height: 1.6em; box-shadow: none; width: 468pt; font-family: Merriweather; table-layout: fixed; padding-bottom: 10px !important; background-image: inherit !important; background-position: inherit !important; background-size: inherit !important; background-repeat: inherit !important; background-attachment: inherit !important; background-origin: inherit !important; background-clip: inherit !important;"></colgroup><tbody><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;"><strong>Year<br /><br /></strong></td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;"><strong>Amount (In Rs crore)</strong><br /><br /></td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">September 2022<br /><br /></td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">85,009<br /><br /></td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">March 2023<br /><br /></td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">89,370<br /><br /></td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">September 2023<br /><br /></td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">97,426<br /><br /></td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">March 2024<br /><br /></td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">1,02,562<br /><br /></td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">September 2024<br /><br /></td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">1,47,081<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><br /><em><strong>Source: RBI data<br /></strong></em><br />While the world continues to be riled up in multiple geopolitical crises in 2024, gold has been making merry of these tough times. Thus far this year, <keyword id="3886593" type="General" weightage="20" keywordseo="domestic-gold" source="Orion">domestic gold</keyword> prices have grown by 23%, outperforming benchmark indices like Nifty and Sensex by a mile, which have gone up by 9.85% and 8.86%, respectively.<br /><br />The growth in gold loan disbursal rates month on month this year could also put Nifty and Sensex’s growth to shame. In just September 2024, gold loans grew an astounding 51%, up from 40.9% in August, 30.5% in June, and just 14.8% in March.<br /><br /><h2 style="margin-bottom: 0.7em; line-height: 1.3; color: rgb(0, 0, 0); font-size: 24px; background: 0px 0px; text-rendering: optimizelegibility;">Hey, wait up for me, says LAS</h2>In lockstep with the elder, gold loan sibling, advances against shares and bonds have also been inching up since 2022. Data from RBI (Reserve Bank of India) notes that as of September 2022, the outstanding quantum of loans that were taken against shares (LAS) and bonds stood at Rs 7,397.94 crores.<br /><br />This inched up to Rs 7,764 crore in September 2023. Come 2024, and it looked like this was LAS’ time to shine. Loans swiftly skyrocketed, with outstanding loans in this category going up from Rs 8,492 crore in March 2022 to a staggering Rs 9,546 crore at the end of September 2024.<br /><br />Naturally, the smoke of LAS has its fire in the record inflows that Indians are pouring into the stock market and mutual funds month on month. Per AMFI (<keyword id="134904" type="General" weightage="20" keywordseo="Association-of-Mutual-Funds-in-India" source="Orion">Association of Mutual Funds in India</keyword>), the net AUM (assets under management) of India’s mutual fund industry grew to Rs 67,25,614.61 crores in October 2024, up from Rs 67,09,259.24 crores in September 2024.<br /><br />Even the number of retail mutual fund folios, which include equity, hybrid, and solution-oriented mutual funds, burgeoned to 17,23,52,296 in October, as compared to 16,81,61,366 in September.<br /><br />The same goes for stock investments in India, where the number of new demat accounts that are added every month just simply refuses to climb down. As of last month, total demat accounts in the country stood at 17.9 crore, which is more than the entire population of full-fledged nations like Japan (12.45 crore), Russia (14.38 crore), and Bangladesh (17.3 crore).<br /><br />In fact, since February this year, the monthly growth of LAS has been hitting double digits. From 11.3% in March to 21.6% in May to 26.8% in August, growth in LAS has been exceptional, hitting 22.9% in September this year. For context, monthly growth in the LAS segment was at a mere 5% in September 2023.<br /><br /><h2 style="margin-bottom: 0.7em; line-height: 1.3; color: rgb(0, 0, 0); font-size: 24px; background: 0px 0px; text-rendering: optimizelegibility;">What's driving the growth?</h2>It's a win-win for both the bank and the customer. Customers love them because LAS is available at a lower interest rate compared to unsecured personal loans. You can get a loan at an interest rate of anywhere between 9 and 12% by pledging your gold, MF units, or shares. Compare this to over 10-28% rates, which is the range where unsecured personal loans charge interest.<br /><br />Banks love <keyword id="827883" type="General" weightage="100" keywordseo="Secured-Loans" source="Orion">secured loans</keyword> since they are well-secured. In case you default on paying back, the bank can sell off your gold, shares, or mutual fund units to recover the amount.<br /><br />This takes a lot of stress off the banks, which are already dealing with secured loans’ riskier sibling-<keyword id="947940" type="General" weightage="20" keywordseo="unsecured-lending" source="Orion">unsecured lending</keyword>. High NPAs (non-performing assets) and non-payments in the unsecured borrowing space have already put RBI on red alert, which is why the apex bank is tightening the screws on unsecured lending, which was well on its way to becoming a ticking time bomb. As a result, credit growth has moderated to 12.8% YoY in October, as against the 19.3% rise recorded in the year-ago period.<br /><br />Yet it's not like the banks won't feel the heat. Analysts at Nomura note that <keyword id="23954457" type="General" weightage="20" keywordseo="personal-loan-delinquencies" source="Orion">personal loan delinquencies</keyword> in India that have been overdue by over 90 days rose to 5.1% in the last financial year, as opposed to just 3.9% in the year prior.<br /><br /><h2 style="margin-bottom: 0.7em; line-height: 1.3; color: rgb(0, 0, 0); font-size: 24px; background: 0px 0px; text-rendering: optimizelegibility;">How does it work?</h2>Both these loans work on a similar principle: Your <keyword id="857141" type="General" weightage="20" keywordseo="loan-amount" source="Orion">loan amount</keyword> is equal to a certain percentage of the actual market value of your asset. This is known as the LTV (loan-to-value ratio). In the case of gold and debt mutual funds, RBI mandates that this LTV be about 75-80%. So, for every Rs 100 of gold or debt mutual fund unit you pledge, your maximum loan amount cannot exceed Rs 80.<br /><br />If you pledge gold, which has a market value of Rs 10 lakh, you can take a loan of up to Rs 8,00,000.<br /><br />In the case of shares and mutual fund units, this limit is set at 50%. So, your shares worth Rs 5,00,000 can only get you a loan worth Rs 2,50,000. But the bright side? You can continue earning returns on your investments and pay interest only on the amount you use, since this loan works as an overdraft facility.<br /><br /><h2 style="margin-bottom: 0.7em; line-height: 1.3; color: rgb(0, 0, 0); font-size: 24px; background: 0px 0px; text-rendering: optimizelegibility;">Super safe, you say?</h2>Interest rates on both of these loans are very much dependent on the market value of the asset, which wildly fluctuates on a day-to-day basis. So, in case the value of your asset falls, you’ll have to keep a margin or more of the same asset in order to continue with the loan and maintain the LTV balance. Failure to do so could mean the bank can even sell off your asset.<br /><br />Says financial planner Nema Chaya Buch. “Yes, LAS offers easy availability of funds since these loans come with a lower interest rate as compared to personal loans. Also, you continue to earn average returns of 10–13% on your equity investments. But the downside is, in case of emergency, those pledged securities cannot be sold. Also, if the equity market goes down, then the bank may ask for additional collateral.<br /><br />Raghvendra Nath, MD, Ladderup Wealth Management notes that taking a LAS is best when the value of your securities has appreciated significantly.<br /><br />“This allows you to maximize the loan amount based on your collateral while also addressing financial needs without having to liquidate your investment portfolio. However, there are notable disadvantages to consider. The market risk is significant; a substantial decline in market value could lead to margin calls, which may incur fees and charges if there are delays or prepayments, ultimately increasing the effective cost of borrowing. Furthermore, failure to make timely payments could result in the loss of your assets.”.<br /><br />Umesh Mohanan, ED &amp; CEO, of Indel Money, cautions that one should have a sufficient quantity of gold to get the loan amount one wants. "According to the current RBI rules, the loan applicant/borrower can draw up to 75% of the total market value of the collateral/gold jewellery. So, always carry a sufficient quantity of gold based on one’s loan requirement.<br /><br />“The most important thing is that the valuation of the gold depends on the purity of the gold. If the borrower pledges gold with higher purity, such as 24 carats or 22 carats, he will get the maximum loan amount," he adds.

Secured Loans 2.0 — why more and more Indians are turning to gold, shares and mutual funds to get loans

<strong><em>  <div type="image" title="Data from RBI suggests that the outstanding amount on gold loans has swelled from Rs 85,009 crore in September 2022 to Rs 1,47,081 crore in September 2024." msid="115250619" hostid="261" sizebytes="118350" caption="&amp;lt;p&amp;gt;Data from RBI suggests that the outstanding amount on gold loans has swelled from Rs 85,009 crore in September 2022 to Rs 1,47,081 crore in September 2024.&amp;lt;/p&amp;gt;"></div><br /> <strong><em>“Ye le beta, humare </em></strong>khaandani sone ke gehne. Ise girvi rakhva de, shayad kuch paise aa jaye ghar main.”</em></strong><br />How many times have we seen similar dialogues repeat itself in Bollywood films of the 70s and 80s—abject poverty and a frail-looking old mother pleading to her son to pawn the family’s heirloom <keyword id="18712" type="General" weightage="20" keywordseo="gold" source="Orion">gold</keyword> ornaments to a jeweller, all to get a few bucks?<br /><br />Well, if you’d ask that son in 2024, he’d rather hit the loan button on his <keyword id="19977340" type="General" weightage="20" keywordseo="demat" source="keywords">Demat</keyword> account than pawn his mother’s gold jewellery. Given how Indians are rapidly resorting to taking loans against their investments in shares and mutual funds, these might as well be a cherished family heirloom in today’s time. <br /><br />Fair warning though; it's not as if gold and loans against it are going down in India’s lending scene. It's very much the opposite, shining brighter than ever! The secured loan category is having its time in the spotlight, and people are certainly looking beyond land and property to get their hands on some extra monies! <br /><br />But what is funding the steep rise behind these loans? And are they as failsafe and secure as they’re made out to be? We decode for you in this week’s Simply Put. <br /><br /><h2>The great Indian pawning party</h2>Pawning one’s gold has been, by far, the OG Indian financial move to get a loan. That continues well into 2024, and apparently, more so when India decides to wed and celebrate! <br /><br />Data from <keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword> suggests that the outstanding amount on gold loans has swelled from Rs 85,009 crore in September 2022 to Rs 1,47,081 crore in September 2024. It looks like Gold took the motto of rise and shine too seriously! <br /><br /><strong>Table 1: Growth in gold loans</strong><br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><strong>Year<br /><br /></strong></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><strong>Amount (In Rs crore)</strong><br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">September 2022<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">85,009<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March 2023<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">89,370<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">September 2023<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">97,426<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March 2024<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,02,562<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">September 2024<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,47,081<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><br /><em><strong>Source: RBI data<br /></strong></em><br />While the world continues to be riled up in multiple geopolitical crises in 2024, gold has been making merry of these tough times. Thus far this year, domestic gold prices have grown by 23%, outperforming benchmark indices like Nifty and Sensex by a mile, which have gone up by 9.85% and 8.86%, respectively. <br /><br />The growth in gold loan disbursal rates month on month this year could also put Nifty and Sensex’s growth to shame. In just September 2024, gold loans grew an astounding 51%, up from 40.9% in August, 30.5% in June, and just 14.8% in March. <br /><br /><h2>Hey, wait up for me, says <keyword id="23953567" type="General" weightage="20" keywordseo="las" source="keywords">LAS</keyword></h2>In lockstep with the elder, gold loan sibling, advances against shares and bonds have also been inching up since 2022. Data from RBI (Reserve Bank of India) notes that as of September 2022, the outstanding quantum of loans that were taken against shares (LAS) and bonds stood at Rs 7,397.94 crores.<br /><br />This inched up to Rs 7,764 crore in September 2023. Come 2024, and it looked like this was LAS’ time to shine. Loans swiftly skyrocketed, with outstanding loans in this category going up from Rs 8,492 crore in March 2022 to a staggering Rs 9,546 crore at the end of September 2024. <br /><br />Naturally, the smoke of LAS has its fire in the record inflows that Indians are pouring into the stock market and mutual funds month on month. Per AMFI (<keyword id="20090034" type="General" weightage="20" keywordseo="association-of-mutual-funds" source="keywords">Association of Mutual Funds</keyword> in India), the net AUM (assets under management) of India’s mutual fund industry grew to Rs 67,25,614.61 crores in October 2024, up from Rs 67,09,259.24 crores in September 2024. <br /><br />Even the number of retail mutual fund folios, which include equity, hybrid, and solution-oriented mutual funds, burgeoned to 17,23,52,296 in October, as compared to 16,81,61,366 in September. <br /><br />The same goes for stock investments in India, where the number of new demat accounts that are added every month just simply refuses to climb down. As of last month, total demat accounts in the country stood at 17.9 crore, which is more than the entire population of full-fledged nations like Japan (12.45 crore), Russia (14.38 crore), and Bangladesh (17.3 crore).<br /><br />In fact, since February this year, the monthly growth of LAS has been hitting double digits. From 11.3% in March to 21.6% in May to 26.8% in August, growth in LAS has been exceptional, hitting 22.9% in September this year. For context, monthly growth in the LAS segment was at a mere 5% in September 2023. <br /><br /><h2>What's driving the growth?</h2>It's a win-win for both the bank and the customer. Customers love them because LAS is available at a lower interest rate compared to unsecured personal loans. You can get a loan at an interest rate of anywhere between 9 and 12% by pledging your gold, MF units, or shares. Compare this to over 10-28% rates, which is the range where unsecured personal loans charge interest. <br /><br />Banks love <keyword id="827883" type="General" weightage="100" keywordseo="secured-loans" source="Orion">secured loans</keyword> since they are well-secured. In case you default on paying back, the bank can sell off your gold, shares, or mutual fund units to recover the amount. <br /><br />This takes a lot of stress off the banks, which are already dealing with secured loans’ riskier sibling-unsecured lending. High NPAs (non-performing assets) and non-payments in the unsecured borrowing space have already put RBI on red alert, which is why the apex bank is tightening the screws on unsecured lending, which was well on its way to becoming a ticking time bomb. As a result, credit growth has moderated to 12.8% YoY in October, as against the 19.3% rise recorded in the year-ago period. <br /><br />Yet it's not like the banks won't feel the heat. Analysts at Nomura note that personal loan delinquencies in India that have been overdue by over 90 days rose to 5.1% in the last financial year, as opposed to just 3.9% in the year prior. <br /><br /><h2>How does it work?</h2>Both these loans work on a similar principle: Your loan amount is equal to a certain percentage of the actual market value of your asset. This is known as the <keyword id="20051485" type="General" weightage="20" keywordseo="ltv" source="keywords">LTV</keyword> (loan-to-value ratio). In the case of gold and debt mutual funds, RBI mandates that this LTV be about 75-80%. So, for every Rs 100 of gold or debt mutual fund unit you pledge, your maximum loan amount cannot exceed Rs 80.<br /><br />If you pledge gold, which has a market value of Rs 10 lakh, you can take a loan of up to Rs 8,00,000. <br /><br />In the case of shares and mutual fund units, this limit is set at 50%. So, your shares worth Rs 5,00,000 can only get you a loan worth Rs 2,50,000. But the bright side? You can continue earning returns on your investments and pay interest only on the amount you use, since this loan works as an overdraft facility.<br /><br /><h2>Super safe, you say?</h2>Interest rates on both of these loans are very much dependent on the market value of the asset, which wildly fluctuates on a day-to-day basis. So, in case the value of your asset falls, you’ll have to keep a margin or more of the same asset in order to continue with the loan and maintain the LTV balance. Failure to do so could mean the bank can even sell off your asset.<br /><br />Says financial planner Nema Chaya Buch. “Yes, LAS offers easy availability of funds since these loans come with a lower interest rate as compared to personal loans. Also, you continue to earn average returns of 10–13% on your equity investments. But the downside is, in case of emergency, those pledged securities cannot be sold. Also, if the equity market goes down, then the bank may ask for additional collateral. <br /><br />Raghvendra Nath, MD, Ladderup Wealth Management notes that taking a LAS is best when the value of your securities has appreciated significantly.<br /><br />“This allows you to maximize the loan amount based on your collateral while also addressing financial needs without having to liquidate your investment portfolio. However, there are notable disadvantages to consider. The market risk is significant; a substantial decline in market value could lead to margin calls, which may incur fees and charges if there are delays or prepayments, ultimately increasing the effective cost of borrowing. Furthermore, failure to make timely payments could result in the loss of your assets.”. <br /><br />Umesh Mohanan, ED &amp; CEO, of Indel Money, cautions that one should have a sufficient quantity of gold to get the loan amount one wants. "According to the current RBI rules, the loan applicant/borrower can draw up to 75% of the total market value of the collateral/gold jewellery. So, always carry a sufficient quantity of gold based on one’s loan requirement. <br /><br />“The most important thing is that the valuation of the gold depends on the purity of the gold. If the borrower pledges gold with higher purity, such as 24 carats or 22 carats, he will get the maximum loan amount," he adds.<br />

Simply Put: Secured Loans 2.0 — why more and more Indians are turning to gold, shares and mutual funds to get loans

After a seven-year break, the <keyword id="23464279" type="General" weightage="100" keywordseo="Hong-Kong-Sixes" source="keywords">Hong Kong Sixes</keyword> are finally back, and cricket fans couldn’t be more thrilled! This fast-paced, high-energy tournament is set to take place from November 1 to November 3 at the Tin Kwong Road Cricket Ground in Hong Kong. Known for its short, thrilling six-a-side format, the Hong Kong Sixes is a unique event in the cricket calendar, bringing together international talent and enthusiastic spectators in a vibrant carnival-like atmosphere. With 12 teams competing, including <keyword id="23729824" type="General" weightage="20" keywordseo="cricketing-heavyweights" source="keywords">cricketing heavyweights</keyword> like India, Pakistan, Australia, and South Africa, the excitement is set to reach new heights.<br /><br />The Hong Kong Sixes has had a history of ups and downs. Originally launched in 1992, it became popular for its compact and thrilling format. However, financial challenges and organizational hurdles led to irregular schedules and ultimately a seven-year hiatus after the 2017 edition. But with renewed sponsorships and a strong commitment from the <keyword id="23729823" type="General" weightage="20" keywordseo="Hong-Kong-Cricket-Association" source="keywords" meta.keywordsubtype="org" meta.entityname="Hong Kong Cricket Association" meta.hostid="261" meta.entityid="Hong Kong Cricket Association">Hong Kong Cricket Association</keyword>, the tournament is making a comeback, promising a cricketing spectacle packed with action, music, and food.<br /><h2>What makes this tournament special?</h2>The Sixes format is designed to thrill from start to finish. Each game lasts just five overs per side, with only six players on each team, meaning the action is intense, and every ball counts. Matches are often high-scoring and fast, keeping fans on the edge of their seats. And, this year, the experience is elevated with live performances, music, and a variety of food stalls – a perfect mix for cricket lovers and casual spectators alike.<br /><br />The 12 teams have been divided into four pools of three. Each team will compete in a round-robin format within its pool, with the top two teams from each pool advancing to the quarterfinals. The bottom teams will have their own battle in the Bowl Competition, while quarterfinal losers will compete in the Plate semifinals, ensuring that there’s never a dull moment for spectators.<br /><br /><ul><li>Pool A: Hong Kong, South Africa, New Zealand<br /></li><li>Pool B: Australia, England, Nepal<br /></li><li>Pool C: India, Pakistan, UAE<br /></li><li>Pool D: Sri Lanka, Bangladesh, Oman<br /></li></ul>A thrilling lineup is expected, with the much-anticipated India-Pakistan showdown happening right on the first day! Other exciting clashes include Australia facing off against England and South Africa taking on New Zealand.<br /><br />One of the special events this year is a Women’s Exhibition Match on the tournament’s final day, commemorating the 75th anniversary of the founding of the People’s Republic of China. This addition shows the tournament’s dedication to promoting inclusivity and gender representation in cricket.<br /><h2>Teams and Captains</h2>This time around, India’s lineup will consist of Robin Uthappa, Kedar Jadhav, Manoj Tiwary, Stuart Binny, Shreevats Goswami, Bharat Chipli and Shahbaz Nadeem.<br /><br />Each team features a mix of talented and experienced players, including former internationals and domestic stars. Here’s a look at some of the captains:<br /><br /><ul><li>India: Robin Uthappa<br /></li><li>Pakistan: Faheem Ashraf<br /></li><li>Australia: Dan Christian<br /></li><li>England: Ravi Bopara<br /></li><li>Hong Kong: Nizakat Khan<br /></li></ul>With a vibrant atmosphere, thrilling matches, and some of the best cricketing talent on display, the Hong Kong Sixes 2024 is set to be an unmissable event in the cricket calendar. Whether you’re cheering for India, Pakistan, or the underdogs, make sure to catch all the action starting November 1.<br />

Hong Kong Sixes 2024 returns after 7 years with 12 teams! Here's all you need to know about this unique cricket tournament

India is celebrating <keyword id="23288581" type="General" weightage="20" keywordseo="Dhanteras" source="keywords">Dhanteras</keyword> today, even as the public remains cautious about adding gold's glitter to their portfolios, given the metal's sky-high prices. <keyword id="19910265" type="General" weightage="100" keywordseo="gold-prices" source="keywords">Gold prices</keyword> went past the Rs 81,000 mark today in Delhi. Per IBJA (<keyword id="20397944" type="General" weightage="20" keywordseo="India-Bullion-and-Jewellers-Association" source="keywords">India Bullion and Jewellers Association</keyword> Ltd.), the cost of 24K gold stood at Rs 7,885/gram today, while 22K gold was priced at Rs 7,695/gram. <br /><br />While jewelers anticipate some increase in customer footfall today, between afternoon and late evening, the All India Gem and Jewellery Domestic Council expects sales volumes to remain steady at around 20 tons. However, per their estimates, sales this year might be down by 5% compared to last year. The <keyword id="19921618" type="General" weightage="20" keywordseo="Confederation-of-All-India-Traders" source="keywords" meta.keywordsubtype="org" meta.entityname="Confederation of All India Traders" meta.hostid="261" meta.entityid="Confederation of All India Traders">Confederation of All India Traders</keyword> (CAIT) projects nationwide retail trade worth Rs 50,000 crore during this Dhanteras.<br /><br />Even quick-commerce companies are cashing in on the Dhanteras sentiment. While Blinkit has partnered with Joyalukkas and Malabar Gold and Diamonds to deliver gold and silver coins in 10 minutes, Zepto has teamed with Augmont and Malabar for the same. Per media reports, Swiggy Instamart has partnered with Muthoot Exim and Malabar, while BigBasket has tied up with Tanishq. <br /><br /> Legend has it that it was on this day that Lord Dhanvantari, the deity of health, appeared today, making brass utensils particularly auspicious for purchase. People also seek blessings from Lord Ganesha, Goddess Lakshmi, and Lord Kuber, and it is considered auspicious to buy gold and silver jewelry, utensils, kitchenware, vehicles, garments, and electronics on this day. <br /><br /> <strong><h2>The appreciation of gold</h2></strong> Gold has had a great run this year, having a YTD (yield-to-date) of 24%. Despite high prices, the demand for gold this festive and wedding season is expected to remain buoyant in India. <br /><br /> The yellow metal's demand as a haven has jumped up significantly in recent times, owing to <keyword id="19955176" type="General" weightage="20" keywordseo="geopolitical-tensions" source="keywords">geopolitical tensions</keyword> like the ongoing Israel-Hamas conflict. Moreover, with governments across the world trying to tame inflation and boost spending by way of rate cuts, gold is increasingly being seen as an effective hedge against inflation. Experts suggest that the demand is set to remain elevated for the times to come. <br /><br /> "The immediate outlook for gold remains robust, supported by the recent import duty reduction from 15% to 6%, which has already stirred significant market activity with imports doubling year-over-year. Despite price changes, the traditional festive and wedding seasons continue driving strong demand, with consumers adapting their purchasing patterns," says Vikas Singh, Managing Director &amp; CEO of MMTC-PAMP. <br /><br /> "Looking ahead, multiple structural factors paint a positive long-term picture. There is an overall trend of increasing gold holdings providing sustained price support. While physical gold remains paramount, there's increasing interest in gold investments, particularly among urban consumers," he continues.<br /><br /> <h2>How to check if your gold is pure<br /></h2>First, always make sure to buy only hallmarked physical gold. "Hallmarking is the accurate determination and official recording of the proportionate content of precious metal in the precious metal article. Hallmarking provides consumers with third-party assurance and satisfaction that they get the right purity of gold (or silver), the government noted in a press release yesterday, urging customers to buy only <keyword id="23040621" type="General" weightage="20" keywordseo="hallmarked-gold" source="keywords">hallmarked gold</keyword> and silver. <br /><br /> Hallmarked gold is characterized by a few specific marks, like the logo of BIS (Bureau of Indian Standards), the jeweler's mark, and that of the hallmarking center. <br /><br />During the process of hallmarking, each piece of gold or silver is assigned a 6-digit alphanumeric code or HUID (Hallmark Unique Identification). Download the BIS Care app on your phone and enter this code using the verify HUID icon on the app. This will help you test the veracity of your purchased gold. <br /><br />

Gold continues to shine bright on Dhanteras, but should you participate in the glitter?

<br />Just as India gears up to celebrate Dhanteras tomorrow, in some good news for Indians, <keyword id="19910265" type="General" weightage="100" keywordseo="gold-prices" source="keywords">gold prices</keyword> today witnessed a dip of about Rs 10, with 24-carat gold currently valued at Rs 8,045.3/gram and 22-carat gold at Rs 7,376.3/gram. <br /><br />As per the <keyword id="23632186" type="General" weightage="20" keywordseo="All-India-Sarafa-Association" source="keywords" meta.keywordsubtype="org" meta.entityname="All India Sarafa Association" meta.hostid="261" meta.entityid="All India Sarafa Association">All India Sarafa Association</keyword>, gold prices fell by Rs 400 to Rs 81,100/10 grams in Delhi today. However, silver remained flat at Rs 99,500 per kg. Meanwhile, gold of 99.55 purity declined Rs 400 to Rs 80,700 per 10 grams on Monday.<br /><br /> The value of gold as a symbol of wealth and prosperity in our culture is no secret, which is why Indians look forward to buying it on auspicious, festive occasions like Dhanteras. Moreover, with the wedding season setting in, the demand for gold is only set to increase in the months to come. <br /><br /> At 24%, the yellow metal's annual return in 2024 has been nothing less than glittering. Compare this with the 14.88% returns gold delivered in 2023. The last time gold returns skyrocketed was at the peak of the pandemic, i.e., in 2019-2020, when gold's annual yields were at 24.45% and 28.24%, respectively. <br /><br /> In 2024, gold's demand as a safe investment avenue has only skyrocketed. <keyword id="19955176" type="General" weightage="20" keywordseo="geopolitical-tensions" source="keywords">Geopolitical tensions</keyword> and inflationary pressures have pushed not just individual investors but even central banks to make a beeline for the yellow metal. During the second half of this year, India's RBI and Poland's National Bank were among the largest buyers of gold. <br /><br /> Per a report by <keyword id="20046776" type="General" weightage="20" keywordseo="Religare-Broking" source="keywords" meta.keywordsubtype="org" meta.entityname="Religare Broking" meta.hostid="261" meta.entityid="Religare Broking">Religare Broking</keyword>, global official reserves of gold burgeoned by 290 metric tons during the first quarter of 2024. The momentum continued well into the second quarter as well, with global central bank gold purchases jumping by 6% to 183 tons during this period.<br /><br />"We continue to believe that gold has further upside potential wherein any dips could present buying opportunities. According to our recent quarterly report, a correction of 5-7% is plausible and could serve as an accumulation zone," note experts at Motilal Oswal Financial Services. <br /><br /> <strong><h2>Returns-wise, how has gold performed?</h2></strong> Data from CapitalMind PMS suggests that between 2000 and 2024, gold has outperformed Nifty and silver in about 7 years. Nifty has been a clear winner overall, outpacing gold and silver in 12 out of 25 years in review. Silver only managed to inch past gold and Nifty in just 6 years. Per data, gold returns peaked at 29.9% in 2011, largely on the back of global financial uncertainty.<br /><br />Years where gold has delivered 20%+ returns<br /><table style="border-width: initial; border-style: none; background-color: rgb(255, 255, 255); font-size: 16px; line-height: 1.6em; box-shadow: none; width: 468pt; font-family: Merriweather; table-layout: fixed; padding-bottom: 10px !important; background-image: inherit !important; background-position: inherit !important; background-size: inherit !important; background-repeat: inherit !important; background-attachment: inherit !important; background-origin: inherit !important; background-clip: inherit !important;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;"><strong>Year<br /><br /></strong></td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;"><strong>Gold Returns (in %)<br /><br /></strong></td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;"><strong>Nifty Returns (in%)</strong><br /><br /></td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">2002<br /><br /></td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">24.1<br /><br /></td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">5.3<br /><br /></td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">2008<br /><br /></td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">24.5<br /><br /></td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">-51.3<br /><br /></td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">2009<br /><br /></td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">24.9<br /><br /></td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">77.5<br /><br /></td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">2010<br /><br /></td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">21.7<br /><br /></td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">19.2<br /><br /></td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">2011<br /><br /></td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">29.9<br /><br /></td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">-23.8<br /><br /></td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">2019<br /><br /></td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">22.9<br /><br /></td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">13.5<br /><br /></td></tr><tr><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">2020<br /><br /></td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">27<br /><br /></td><td style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">16.1<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody></table>Source: CapitalMind PMS<br /><br />Not just in India, gold has delivered returns exceeding domestic equity markets in most emerging countries like Turkey and Argentina. Per the DSP Netra October report, over the last 26 years, equity markets in Turkey have delivered 21.2% returns, as opposed to gold, which has generated 29.3% returns during the same period. Similarly, in Argentina, equity markets have delivered 38.4% returns, while gold saw 44.3% returns in the same time frame.<br /><br /> <strong><h2>Stay put for Silver</h2></strong> However, if experts at Motilal Oswal Financial Services are to be believed, the performance of silver could either match or outperform gold in the medium to long term, as <keyword id="20762025" type="General" weightage="20" keywordseo="silver-prices" source="keywords">silver prices</keyword> are expected to reach Rs 1,25,000 per kilogram on the Multi Commodity Exchange (MCX) and USD 40 per ounce on the COMEX within the next 12 to 15 months.<br /><br /> In fact, even the YTD (yield to date) for silver is higher at 31.1% as compared to gold, which stands at 22.6%. However, do not go overboard with silver allocation in your portfolio.<br />

Ahead of Dhanteras 2024, how has gold glittered so far this year?

The upcoming <keyword id="23311823" type="General" weightage="20" keywordseo="Executive-Council-meeting" source="keywords">executive council meeting</keyword> of the <keyword id="19896477" type="General" weightage="100" keywordseo="Indian-Olympic-Association" source="keywords" meta.keywordsubtype="org" meta.entityname="Indian Olympic Association" meta.hostid="261" meta.entityid="Indian Olympic Association">Indian Olympic Association</keyword> (<keyword id="19934453" type="General" weightage="20" keywordseo="IOA" source="keywords" meta.keywordsubtype="org" meta.entityname="IOA" meta.hostid="261" meta.entityid="IOA">IOA</keyword>) is poised to be a contentious gathering as various contentious issues are added to the agenda. One of the primary topics of discussion will be the alleged "threatening letters" issued by the IOA president, <keyword id="20284696" type="General" weightage="20" keywordseo="PT-Usha" source="keywords">PT Usha</keyword>, to council members. This meeting is taking place amidst escalating tensions between Usha and IOA treasurer <keyword id="21208123" type="General" weightage="20" keywordseo="Sahdev-Yadav" source="keywords">Sahdev Yadav</keyword>.<br /><br />On Tuesday, Yadav announced his intention to pursue legal action against Usha, claiming that she defamed him following her issuance of a show cause notice related to a complaint questioning his eligibility for the treasurer position.<br /><br />The agenda for the meeting has expanded to include 14 points, prominently featuring discussions around the "illegal and threatening letters issued by the President to the members of the Executive Committee from time to time." Additionally, the council plans to explore the scope of the president's powers under the IOA Constitution and will consider whether to report the president's conduct to the IOA <keyword id="23311824" type="General" weightage="20" keywordseo="Ethics-Commission" source="keywords">Ethics Commission</keyword>.<br /><br />A joint communication regarding the meeting was issued by 12 council members, including senior vice president <keyword id="21151445" type="General" weightage="20" keywordseo="Ajay-Patel" source="keywords">Ajay Patel</keyword>, vice-presidents Rajalaxmi Singh Deo and Gagan Narang—an Olympic medallist — along with former wrestler and council member Yogeshwar Dutt. Notably, members who refrained from signing this communication include boxer M.C. Mary Kom and table tennis player A. Sharath Kamal, both of whom are part of the IOA athletes' commission.<br /><h2>Focus on recent <keyword id="19933819" type="General" weightage="20" keywordseo="Olympics" source="keywords">Olympics</keyword> and financial concerns</h2>The meeting will also address significant matters related to the recent Paris Olympics. Key topics will include an examination of sponsorship agreements and "additional expenditures" incurred during the event, such as the costs associated with the president's room upgrades, which are alleged to have been covered by the IOA. Furthermore, the council will discuss the accreditation process, including the distribution of accreditation cards and various passes and invites issued during the Olympics.<br /><br />Another important point of discussion will be the selection process for the <keyword id="23311825" type="General" weightage="20" keywordseo="Sportsperson-of-Outstanding-Merit" source="keywords">Sportsperson of Outstanding Merit</keyword> (SOM) from November 2022 and the implications for their participation in the IOA elections for elected positions. The athletes' commission previously designated eight SOMs, including Usha, Yogeshwar Dutt, MM Somaya (hockey), Rohit Rajpal (tennis), Akhil Kumar (boxing), Shuma Sirur (shooting), Aparna Popat (badminton), and Dola Banerjee (archery).<br /><br />As the meeting approaches, the air is thick with anticipation regarding how these issues will unfold and the potential implications for the IOA's governance and integrity.<br /><br /><em>(With inputs from PTI)</em>

Indian Olympic Association to soon hold council meeting to address PT Usha’s “threatening letters”, accreditation card controversy and more

The Securities and Exchange Board of India (<keyword id="19901201" type="General" weightage="20" keywordseo="SEBI" source="keywords">SEBI</keyword>) on Friday imposed a <keyword id="19915887" type="General" weightage="20" keywordseo="ban" source="keywords">ban</keyword> on businessman <keyword id="19902194" type="General" weightage="100" keywordseo="Anil-Ambani" source="keywords">Anil Ambani</keyword>, 3 key officials of his company and 23 companies associated with him, from <keyword id="20114014" type="General" weightage="20" keywordseo="trading" source="keywords">trading</keyword> in the stock market for a period of five years.<br /><br />This final order of the market regulator comes after a thorough investigation of allegations, which includes significant irregularities related to loan approvals, fund diversion, and non-compliance with regulations among the entities involved.<br /><br />SEBI's investigation revealed a pattern of <keyword id="20803556" type="General" weightage="20" keywordseo="financial-misconduct" source="keywords">financial misconduct</keyword> orchestrated by Anil Amband his associates. The regulatory body found that funds were being diverted under the pretext of loans to entities linked to Anil Ambani, leading to severe breaches of financial regulations.<br /><br />As part of the sanctions, SEBI has issued a comprehensive order stating, "Noticees are restrained from accessing the securities market and prohibited from buying, selling or otherwise dealing in securities, directly or indirectly, for a period of 5 years, from the date of coming into force of this order."<br /><br />SEBI also stated that the ban has been imposed to prevent further <keyword id="20093819" type="General" weightage="20" keywordseo="market-manipulation" source="keywords">market manipulation</keyword> and to uphold <keyword id="20957433" type="General" weightage="20" keywordseo="regulatory-standards" source="keywords">regulatory standards</keyword>.<br /><br />In addition to the trading ban, SEBI also levied a significant penalty of Rs 25 crore on Anil Ambani. SEBI's order elaborates on the nature of the <keyword id="21119934" type="General" weightage="20" keywordseo="fraudulent-scheme" source="keywords">fraudulent scheme</keyword>, stating, "The findings made in this Order have established the existence of a fraudulent scheme, orchestrated by Noticee No. 2 (Anil Ambani) and administered by the KMPs of RHFL (<keyword id="22889177" type="General" weightage="20" keywordseo="Reliance-Housing-Finance-Limited" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Housing Finance Limited" meta.hostid="261" meta.entityid="Reliance Housing Finance Limited">Reliance Housing Finance Limited</keyword>)."<br /><br />The charges against Anil Ambani and the key officials of Reliance Housing Finance Limited (RHFL) include the diversion of funds from the company terming as loans to related entities that were never repaid.<br /><br />Despite strong objections from RHFL's board of directors, the company's management, influenced by Anil Ambani and senior officials the management ignored these directives and proceeded with the fraudulent transactions.<br /><br />SEBI investigation highlighted that Anil Ambani's role as the 'chairperson of the ADA group' was pivotal in facilitating the fraudulent activities. The misuse of his position allowed for the orchestration of this scheme, leading to significant financial repercussions.<br /><br />The order by SEBI stated that many of the borrowers failed to repay their loans, which in turn caused RHFL to default on its debt obligations. Additionally, a significant number of these borrowers had close ties to the promoters of RHFL, exacerbating the financial mismanagement.<br /><br />SEBI added that the impact of the conduct by Anil Ambani and entities has been severe, with over 9 lakh shareholders still invested in RHFL facing considerable losses.<br /><br />In February 2022, SEBI issued an interim order restraining RHFL, Anil Ambani, and three other individuals — Amit Bapna, Ravindra Sudhakar, and Pinkesh R Shah from participating in the securities market until further notice. This interim order was a precursor to the more stringent sanctions now imposed in the final order of the market regulator.<br />

SEBI bans industrialist Anil Ambani and 23 entities associated with him for trading in stock markets for 5 years

<keyword id="20981018" type="General" weightage="20" keywordseo="pickleball" source="keywords">Pickleball</keyword>, once a niche <keyword id="20413546" type="General" weightage="20" keywordseo="sport" source="keywords">sport</keyword> abroad, is now quickly capturing attention across urban centres in India, where it’s seen as a fresh alternative to traditional sports. From Bollywood stars to sports icons, this fun and fast-paced game is attracting enthusiasts from diverse backgrounds. But…what is it and where did it come from?<br /><br />If you’ve been seeing people playing what looks like tennis but with a racket that looks more like a fly swatter and have been absolutely dumbfounded by it, you’re in the right place.<br /><br />A combination of tennis, badminton and ping-pong, pickleball paddle uses a paddle and plastic ball with holes. This hybrid sport is played on a smaller court with paddles and a perforated plastic ball. Since its inception in the 1960s, pickleball has transformed from a backyard game to a full-fledged competitive sport, attracting players of all ages and skill levels!<br />          <div type="Article" hostid="261" msid="104593593" title="&amp;#39;The Golden Bachelor&amp;#39; Gerry Turner loves pickleball. A doctor shares tips to avoid injuries while playing." mstype="2" mssubtype="0"></div><br /><h2>The rise of <keyword id="20642016" type="General" weightage="100" keywordseo="pickleball-in-India" source="Orion">pickleball in India</keyword><br /></h2>Introduced to India in 2007 by Sunil Valavalkar, pickleball started modestly but has grown significantly in the past decade, thanks in large part to the efforts of the <keyword id="21600609" type="General" weightage="20" keywordseo="All-India-Pickleball-Association" source="keywords" meta.keywordsubtype="org" meta.entityname="All India Pickleball Association" meta.hostid="261" meta.entityid="All India Pickleball Association">All India Pickleball Association</keyword> (AIPA). The sport is currently played across 23 states and boasts a player base of over 10,000. The game’s expansion is fueled by initiatives such as national tournaments, coaching clinics, and collaborations with international pickleball organisations.<br /><br />India's sports minister, Anurag Thakur, has also been instrumental in promoting pickleball, adding a layer of governmental support that is critical for its mainstream acceptance. The sport’s potential to foster inclusivity, given its appeal across age groups and genders, makes it particularly attractive in India. With new dedicated courts being built across cities like Mumbai, Delhi, Bengaluru, and prestigious clubs now offering pickleball, the sport is on the path to becoming a staple recreational activity in urban India.<br />          <div type="Article" hostid="261" msid="105704740" title="A pickleball star offers tips for improving your game. The 22-year-old pro athlete says the sport isn&amp;#39;t just for old people." mstype="2" mssubtype="0"></div><br /><h2>Simplicity and accessibility<br /></h2>One of the main reasons pickleball is catching on in India is its simplicity. The sport is easy to learn, requiring just a small court, paddles, and a perforated plastic ball. This makes it particularly attractive in crowded urban areas like Mumbai and Bengaluru, where space is often limited. Unlike tennis or badminton, which may need specialised courts and equipment, pickleball can be played in community parks or even modified badminton courts, making it an accessible choice for all.<br /><h2>Celebrity endorsements</h2>The growing popularity of pickleball in India has been boosted by celebrity endorsements. One of the sport’s notable supporters is popular actress <keyword id="19995770" type="General" weightage="20" keywordseo="Samantha-Ruth-Prabhu" source="keywords">Samantha Ruth Prabhu</keyword>. Known for her successful career in the South Indian film industry, Samantha recently became the owner of Team Chennai in the <keyword id="21590997" type="General" weightage="20" keywordseo="World-Pickleball-League" source="keywords" meta.keywordsubtype="org" meta.entityname="World Pickleball League" meta.hostid="261" meta.entityid="World Pickleball League">World Pickleball League</keyword>, and she shared a heartfelt post about what this opportunity means to her. <br />Globally, <keyword id="19957993" type="General" weightage="20" keywordseo="Novak-Djokovic" source="keywords">Novak Djokovic</keyword>, the tennis legend, has also been linked to pickleball. While Djokovic is known for his dominance on the tennis court, the Olympics gold medalist is all set to be seen on the pickleball court in a first!<br />          <div type="Article" hostid="261" msid="104833435" title="Matthew Perry spent his final hours playing in a pickleball match before he was found dead at his LA home: coach" mstype="2" mssubtype="0"></div><br /><h2>Health benefits and community building<br /></h2>Pickleball offers numerous health benefits, especially as a low-impact sport. It appeals to people looking for a fun, accessible way to stay active without the intense physical demands of sports like tennis or squash. Additionally, the sport’s emphasis on doubles play fosters a strong sense of community and social engagement, which resonates with Indian culture’s collective approach to recreation.<br /><br />In India, even national-level tournaments are becoming more common, drawing participants from various age groups and demographics. As the sport continues to grow, it is clear that pickleball has found its place in India’s evolving sports culture. With more people picking up paddles and entering courts, the future of pickleball in India looks bright, and its rise shows no signs of slowing down.<br />          <div type="Article" hostid="261" msid="109666082" title="How a stay-at-home dad turned his passion for pickleball into &amp;#39;a game changer&amp;#39; side hustle" mstype="2" mssubtype="0"></div><br />

What is pickleball — the new-ish sport trending among celebrities like Samantha Ruth Prabhu and Novak Djokovic?

Domestic <keyword id="19910265" type="General" weightage="100" keywordseo="gold-prices" source="keywords">gold prices</keyword> have risen by 10% on a year-to-date basis on the back of the strength in global gold prices, which have surged by 18% year-to-date, driven by robust <keyword id="19894998" type="General" weightage="20" keywordseo="central-bank" source="keywords">central bank</keyword> purchases, heightened geopolitical risks, and growing expectations of a monetary policy pivot from the <keyword id="19901377" type="General" weightage="20" keywordseo="us-federal-reserve" source="keywords">US Federal Reserve</keyword>, according to the <keyword id="20195223" type="General" weightage="20" keywordseo="World-Gold-Council" source="keywords" meta.keywordsubtype="org" meta.entityname="World Gold Council" meta.hostid="153" meta.entityid="World Gold Council">World Gold Council</keyword>.<br /><br />The reduction in <keyword id="20069572" type="General" weightage="20" keywordseo="import-duty" source="keywords">import duty</keyword> has ignited a resurgence in gold demand across <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>. Reports from the recently concluded India International Jewellery Show indicate a substantial increase in order bookings from retailers, particularly in preparation for the upcoming festive and wedding season.<br /><br />Manufacturers have noted that in some cases, orders have reached levels not seen in several years, underscoring the strong buying interest among <keyword id="21595593" type="General" weightage="20" keywordseo="jewellery-retailers" source="keywords">jewellery retailers</keyword> and consumers alike. The trend of bar and coin buying has also remained robust, with both consumers and jewellers capitalizing on the more attractive prices to stock up for future manufacturing needs.<br /><br />Historical analysis suggests that Indian consumer demand, encompassing jewellery and bar and coin demand, could see an additional 50 tonnes or more in the second half of 2024. This potential increase is fueled by a combination of an initial boost in consumer appetite due to the more attractive prices and a longer-term alignment of local prices with international rates.<br /><br />In a notable shift, domestic gold prices, which had been trading at a discount to international prices for five consecutive months, have now started trading at a premium following the <keyword id="19908389" type="General" weightage="20" keywordseo="Union-Budget" source="keywords">Union Budget</keyword> announcement.<br /><br />The discount had widened significantly in July, reaching a peak of around $80 per ounce in the third week of the month, driven by subdued demand and an increased supply of gold through various preferential trade agreements and unofficial channels.<br /><br />However, wholesalers who had inventory purchased under the old customs duty regime began selling gold at a premium to the landed cost to mitigate their losses, further supported by increased consumer demand.<br /><br />While the premiums have moderated recently, from $28 per ounce to around USD 5 per ounce, this shift highlights the changing market sentiment and the impact of rising international gold prices and potential inventory valuation adjustments.<br /><br />The changes introduced in the Union Budget, including a reduction in the long-term investment holding period and a lower tax rate, have made gold ETFs a more attractive investment option.<br /><br />Data from the Association of Mutual Funds in India (AMFI) reveals that net inflows into gold ETFs in July amounted to Rs 13.4 billion (approximately USD 160 million), marking the highest monthly inflows since February 2020 and an 84% increase compared to June 2024.<br /><br />Despite these inflows, the total assets under management (AUM) for Indian gold ETFs grew marginally by 0.3% from the previous month, reaching Rs 345 billion ($4.1 billion). This modest increase can be attributed to the 8 % fall in domestic gold prices following the import duty reduction. Year-to-date, net inflows into Indian gold ETFs have totalled Rs 45 billion ($543 million), with total AUMs rising by 48 % from a year ago.<br /><br />The <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="153" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> (RBI) has continued its gold purchasing trend, although at a slower pace following a significant increase in June, when purchases reached 9.3 tonnes--the highest monthly total in nearly two years.<br /><br />Year-to-date, the RBI's gold acquisitions have totaled 44.3 tonnes, surpassing the total purchases of the past two years combined. The RBI's gold reserves have now reached a record 849 tonnes, representing 8.8% of total foreign reserves, compared to 7.5 % a year ago.<br /><br />In July, gold imports remained steady at $3.1 billion, maintaining the stable trend observed over the previous three months. Between April and July, imports averaged $3.2 billion, with volumes ranging between 43 and 47 tonnes during this period. The gold import bill for July 2024 was 11 % lower than the previous year, with an estimated 26% decrease in volume terms, around 47 tonnes.<br /><br />Despite a surge in international gold prices, domestic gold prices in India have experienced a notable decline, primarily due to the 9 % reduction in import duty announced in the Union Budget 2024-25. This policy change has led to a 6% decrease in the landed cost of gold, marking a shift in the domestic gold market dynamics. <br /><br />

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What is pickleball — the new-ish sport trending among celebrities like Samantha Ruth Prabhu and Novak Djokovic?

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Domestic gold prices surge 10% amid global price rally, central bank buying: World Gold Council

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