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As the vibrant <keyword id="19896655" type="General" weightage="20" keywordseo="wedding-season" source="keywords">wedding season</keyword> kicks off in India soon, 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> (<keyword id="20143308" type="General" weightage="20" keywordseo="CAIT" source="keywords" meta.keywordsubtype="org" meta.entityname="CAIT" meta.hostid="261" meta.entityid="CAIT">CAIT</keyword>) has set an optimistic forecast, projecting a windfall for the nation’s economy. According to a recent CNBC report, CAIT predicts that this year, an estimated 48 lakh weddings are expected to take place in November and December, potentially generating a whopping ₹6 lakh crore in business. This surge reflects not just the volume of weddings but the wide-scale economic impact that accompanies such celebrations. Weddings in India are known for their grandeur, with celebrations often spanning several days and involving a number of services, from event planning and catering to jewellery purchases and attire. CAIT’s recent prediction, thus, underscores the vital role that the wedding season plays in the retail market. In this year’s cycle, the retail sector alone is poised to see a turnover of ₹5.9 lakh crore, highlighting the deep interconnectedness between cultural traditions and economic activity. In Delhi, which stands as one of the top locations for extravagant weddings, the expected impact is particularly significant. Approximately 4.5 lakh weddings are projected in the capital city, potentially contributing around ₹1.5 lakh crore to the local economy. This surge benefits a variety of sectors, including hospitality, fashion, gold and jewellery, and even technology, as digital services and e-invitations become more prevalent. The build-up to this wedding season has already shown signs of economic revival, particularly in sectors like gold and jewellery. Suvankar Sen, MD &amp; CEO of Senco Gold, noted a marked increase in wedding-related purchases during the recent Dhanteras festival. Speaking in an interview with CNBC TV-18, Sen highlighted that the August duty cut on gold played a significant role in spurring early buying behaviour. He pointed out that this policy move helped lower the cost of gold, enticing consumers to make significant purchases ahead of the peak wedding months. "We can see at least 40-50% of the consumers who are buying right now are related to weddings, and the 40-50% who are not related to weddings, are divided amongst consumers with a budget of ₹2-3 lakh buying some kind of jewellery as an annual buying during this auspicious time. Some consumers are buying working women's jewellery or lightweight for their daughters, something within ₹50,000 to ₹1 lakh kind of buying happening. ₹20,000-30,000 is a budget consumer at all levels, some kind of a pendant, ring or earring that everyone would like to buy during this auspicious time. So, this is how we are seeing the consumer," he added. This early momentum has translated into packed showrooms and increased consumer spending, signalling a robust start to wedding-related commerce. Retailers across India are now preparing for a flurry of activity, restocking inventory and expanding service offerings to meet the anticipated demand. From wedding attire and décor to luxury items like high-end electronics and custom-made invitations, the shopping lists are extensive, promising a lucrative time for businesses. While traditional sectors such as fashion, catering, and venue rentals will see a boom, new trends have also emerged, expanding the <keyword id="23787664" type="General" weightage="20" keywordseo="wedding-economy" source="keywords">wedding economy</keyword>. The demand for eco-friendly and sustainable wedding practices has grown, with couples seeking biodegradable décor and eco-conscious catering services.

Indian weddings expected to generate ₹6 lakh crore in two months, CAIT says

<ul><li><keyword id="19920097" type="General" weightage="20" keywordseo="Karwa-Chauth" source="keywords">Karwa Chauth</keyword> is set to add ₹22,000 crore worth of business to the <keyword id="19948184" type="General" weightage="20" keywordseo="Indian-economy" source="keywords">Indian economy</keyword>.</li><li>This year's spending is expected to surpass last year's ₹15,000 crore mark.</li><li>Karwa Chauth will be celebrated across India on Sunday.</li></ul>Deeply rooted in Indian culture and spirituality, the festival of Karwa Chauth has grown into a significant economic event, with an estimated ₹22,000 crore worth of business anticipated in markets nationwide. The traditional festival will be celebrated across India on Sunday, marking a day of fasting and prayer for the well-being and longevity of spouses. This year's spending is expected to surpass last year's ₹15,000 crore mark, reflecting a surge in enthusiasm and <keyword id="23410660" type="General" weightage="20" keywordseo="consumer-activity" source="keywords">consumer activity</keyword>. Over the past week, markets across the country have witnessed a lively atmosphere, with bustling crowds shopping for clothing, jewellery, cosmetics, gift items, and puja essentials in preparation for the occasion. Delhi, one of the central hubs for the festivities, is expected to contribute significantly to this economic boom, with sales projected to reach approximately ₹4,000 crore. The shopping spree spans a variety of items associated with Karwa Chauth, including jewellery, traditional clothing, makeup products, sarees, and religious items like Karwa pots, sieves, lamps, wicks, and prayer books. In addition, red glass bangles, anklets, toe rings, lockets, and intricately designed Karwa thalis are among the popular items being purchased. This year, silver Karwas have also been introduced to the market, and they are expected to be in high demand. Henna (mehendi) application, considered auspicious for the festival, has also seen a surge in popularity, with markets, temples, and public places filled with women lining up to get their hands decorated. In Delhi, Connaught Place's Hanuman Temple has become a prominent spot where thousands gather for mehendi, while beauty parlours and private mehendi sessions are booked solid. Henna artists find a valuable opportunity to earn a livelihood during this period. Karwa Chauth not only boosts retail activity but also sets the stage for the upcoming <keyword id="19896655" type="General" weightage="20" keywordseo="wedding-season" source="keywords">wedding season</keyword>, with many shoppers placing orders for <keyword id="20242079" type="General" weightage="20" keywordseo="gold-jewellery" source="keywords">gold jewellery</keyword>. The wedding season, commencing in November, traditionally sees a rise in bookings for bridal jewellery, and the festival serves as an early catalyst for these purchases. With inputs from ANI. SEE ALSO: <a href="https://www.businessinsider.in/personal-finance/news/best-credit-cards-for-online-shopping-in-india/articleshow/114354358.cms">Best credit cards for online shopping this festive season</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/best-smartphones-under-25000-in-india-in-october-2024/slidelist/114339207.cms">Best smartphones under ₹25,000 in India in October 2024</a> <a href="https://www.businessinsider.in/stock-market/webstories/waaree-energies-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/114350114.cms">Waaree Energies IPO – Price band to risk factors, all you need to know</a>

Karwa Chauth festivities to boost economy by ₹22,000 crore

As 2024 wraps up, YouTube has unveiled its year-end trends, offering a window into the moments, creators, and events that captivated audiences across India. From cricketing showdowns to viral music tracks, the platform once again reflected the nation’s pulse, where billions of views transformed fleeting topics into lasting cultural highlights. The year’s biggest digital trends featured an eclectic mix of events and personalities. Dominating the conversation were global sporting spectacles like the ICC Men’s T20 World Cup, the Indian Premier League, and the Paris 2024 Olympics. These events amassed billions of views, cementing cricket and sports as evergreen passions for Indian audiences. Cultural moments also had their share of the spotlight. The Ambani wedding, a topic of unmatched intrigue, garnered over 6.5 billion views on videos that included “Ambani” and “Wedding” in their titles. Meanwhile, phrases like “moye moye” became internet sensations, accumulating 4.5 billion views. Iconic figures like Diljit Dosanjh and Ratan Tata inspired millions, with Dosanjh’s name linked to videos generating nearly 4 billion views. YouTube’s end-of-year report also shed light on India’s top content creators, whose innovative storytelling captured audiences worldwide. While global powerhouse MrBeast led the charge with 332 million subscribers, homegrown creators like Filmy Suraj Actor (32.5M) and Sujal Thakral (33.5M) proved the power of local content. Others such as Cristiano, Box of Vengeance, and the Stokes Twins further added to the platform’s diverse creator ecosystem. Indian creators made waves on Shorts, with hyperlocal music in languages like Marathi and Garhwali crossing borders to reach global audiences. Priyal Kukreja championed women’s voices, while creators turned memes, cricket moments, and celebrity weddings into engaging, bite-sized stories that resonated deeply with fans. Music continued to play a pivotal role in shaping YouTube trends. Songs like “Kurchi Madathapetti” by Sahithi Chaganti and Sri Krishna, “Jale 2” by Shiva Chaudhary, and “Aaj Ki Raat” by Madhubanti Bagchi and Divya Kumar defined 2024’s soundtrack. On YouTube Shorts, hits such as “Dhana” by Priyanka Meher and Rongpaz and “Tauba Tauba” by Karan Aujla kept audiences grooving. These tracks not only became fan favourites but also helped drive the platform’s engagement, with users creating endless remixes, dance challenges, and covers that extended the lifespan of each hit. One of the most striking trends of 2024 was the rise of active fan participation. Viewers weren’t just consuming content—they were shaping it. From cricket memes and music edits to reactions to celebrity weddings, fans co-created content that amplified the original stories, making them even more impactful.

YouTube unveils year-end trends, here is what India watched in 2024

After a 10.2% increase last year, <keyword id="19910265" type="General" weightage="100" keywordseo="gold-prices" source="keywords">gold prices</keyword> are expected to rise another 9.9%, <keyword id="22706139" type="General" weightage="20" keywordseo="Infomerics-Ratings" source="keywords" meta.keywordsubtype="org" meta.entityname="Infomerics Ratings" meta.hostid="261" meta.entityid="Infomerics Ratings">Infomerics Ratings</keyword> said in a report, attributing largely to the <keyword id="20132853" type="General" weightage="20" keywordseo="Middle-East-crisis" source="keywords">Middle East crisis</keyword> involving Iran and Israel. The dragged <keyword id="20130144" type="General" weightage="20" keywordseo="geopolitical-crisis" source="keywords">geopolitical crisis</keyword> in the Middle East has spurred a rush into safe-haven assets such as gold. Historically, gold, as an asset, is considered a haven as it typically manages to retain or appreciate its underlying value in times of turbulence. "But this rise would now partly be offset by the reduced duty cut (in India)," said the Infomerics Ratings report. Historical trends, such as the surge during the Russia-Ukraine war, highlight gold's role as a safeguard against inflation and market instability during <keyword id="19982403" type="General" weightage="20" keywordseo="global-uncertainties" source="keywords">global uncertainties</keyword>. Prices of gold, considered safe investment bets, have seen a mild correction after the latest stellar bull run. Gold has been in demand for a considerable period, with its prices rallying to hit record highs now and then. Geopolitical conflict in West Asia that stretched for a long time, buying by several central banks, including the RBI, and physical demand, have altogether pushed gold prices northwards. Gold is a scarce commodity, and any mismatch in demand-supply conditions may invariably trigger a sharp price rise. "Gold's diverse uses, in jewellery, technology and by central banks and investors, mean different sectors of the gold market rise to prominence at different points in the global economic cycle. This diversity of demand and self-balancing nature of the gold market underpin gold's robust qualities as an investment asset," said Infomerics Ratings. Festive season buying, a weak dollar, uncertainty surrounding the US elections, and possible Fed rate cuts in September could raise prices, the report noted. In the wake of the presentation of the <keyword id="19908389" type="General" weightage="20" keywordseo="Union-Budget" source="keywords">Union Budget</keyword> on July 23, 2024, by the Finance Minister, gold prices in India declined sharply. Finance Minister Nirmala Sitharaman slashed the import duty on gold from 15% to 6% in the Budget presented on July 23. Days after the Budget, gold became cheaper by Rs 6,200 in most states of India. In the capital Delhi, the price of 10 grams of 24 carat gold came down to about Rs 69,140. "With surging demand for gold, especially as the <keyword id="19896655" type="General" weightage="20" keywordseo="wedding-season" source="keywords">wedding season</keyword> approaches, gold prices are likely to rise this financial year, driven by escalating geopolitical tensions, robust central bank buying, and expectations of <keyword id="21050688" type="General" weightage="20" keywordseo="US-Fed-rate-cuts" source="keywords">US Fed rate cuts</keyword>." Infomerics Ratings report said. In India, gold has strong cultural and religious significance. As per <keyword id="20195223" type="General" weightage="20" keywordseo="World-Gold-Council" source="keywords" meta.keywordsubtype="org" meta.entityname="World Gold Council" meta.hostid="261" meta.entityid="World Gold Council">World Gold Council</keyword>, India is one of the largest consumers of gold jewellery, accounting for about 25% of global gold demand. The demand for gold in India is primarily driven by weddings and festivals, making it an integral part of the country's culture and traditions. Touching upon regulatory structure and challenges in the gold sector, the report noted that the regulatory landscape for the gold industry in India is fragmented. "The regulatory landscape for the gold industry in India is fragmented, involving multiple circulars and notifications from various authorities such as the RBI, Ministry of Finance, Ministry of Commerce, DGFT, Customs, and others. This patchwork of regulations leads to confusion, inefficiency, and difficulty in compliance, as stakeholders must navigate through numerous documents to understand the rules," the report read.

Gold shines as demand for safe haven asset strong; Infomerics Ratings anticipates 10% price jump this year

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. 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. 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. 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. <h2>The appreciation of gold</h2> 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. 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. "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. "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. <h2>How to check if your gold is pure </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. 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. 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.

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

<ul class="summary-list"><li>Asia's richest man is hosting a lavish wedding in Mumbai for his youngest son this weekend.</li><li>Local traffic police announce road closures, causing frustration among some Mumbai locals.</li></ul>Asia's richest man is throwing a <a target="_blank" class="" href="https://www.businessinsider.com/what-goes-into-planning-celebrity-wedding-ambani-india-millionaires-ceremony-2024-7">massive wedding</a> for his youngest son in Mumbai this weekend.Anant Ambani, son of <a target="_blank" class="" href="https://www.businessinsider.com/ambani-richest-family-in-asia-india-lifestyle-home-wedding-photos-2018-12">Mukesh Ambani,</a> is set to wed Radhika Merchant in a lavish affair.It's expected to delight Bollywood celebrities, business leaders, and politicians who are all on the guest list. But one group of people are not pleased — city residents.Earlier this month, local traffic police posted a social media notice announcing road closures and diversions from Friday through Monday.The document, <a target="_blank" class="" href="https://x.com/MTPHereToHelp/status/1809236631905247702">posted</a> on X, noted that a large number of guests and VIPs would be in attendance and added that the measures were being taken "in order to avoid inconvenience" for guests. The notice and its wording, which also called the wedding a "public event" angered some locals who expressed their frustration on X, saying that Mumbai residents should not be disturbed so that a billionaire can throw a big party.Mumbai is seen as India's financial capital, and its Bandra Kurla Complex, where the wedding is taking place, is a major business district. The city is also the country's most populated, and traffic congestion is a headache for locals. Sonam Srivastava, CEO of Wright Research, whose office is adjacent to the Jio World Convention Centre, where the Ambani wedding is being held, told Business Insider that the venue has experienced "significant disruptions" due to traffic blockages. Srivastava added: "This situation has forced us to reschedule critical client meetings and events planned for these dates. It's alarming that traffic in such a prominent business district has come to a standstill, causing significant inconvenience to businesses, for a private event."The Ambani family hosted <a target="_blank" class="" href="https://www.businessinsider.com/ambani-wedding-guests-celebrities-performance-dress-code-party-billionaire-2024-3">pre-wedding parties</a> in Jamnagar in March, which were attended by some of the world's elite, including Bill Gates, Mark Zuckerberg, and Ivanka Trump.The Indian newspaper The Hindu Business Line <a target="_blank" class="" href="https://www.thehindubusinessline.com/news/variety/jamnagars-skies-jam-packed-with-sleek-jets-ferrying-ambani-guests/article67895288.ece">reported</a> at the time that about 150 planes descended into the local airport. An airport official told Business Line that the airport <a target="_blank" class="" href="https://www.businessinsider.com/ambani-wedding-rush-private-jets-prompts-extra-vip-passport-facility-2024-3">organized some extra capacity for the guests</a> by setting up a Customs, Immigration, and Quarantine center.

Asia's wedding of the year is seriously annoying locals in Mumbai

“Ye le beta, humare khaandani sone ke gehne. Ise girvi rakhva de, shayad kuch paise aa jaye ghar main.” 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? 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. 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! 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. <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! 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! Table 1: Growth in gold loans <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;">Year </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;">Amount (In Rs crore) </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 </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 </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 </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 </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 </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 </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 </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 </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 </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 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Source: RBI data 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. 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. <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. 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. 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. 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. 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). 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. <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. 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. 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. 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. <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. 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. 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. <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. 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. Raghvendra Nath, MD, Ladderup Wealth Management notes that taking a LAS is best when the value of your securities has appreciated significantly. “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.”. 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. “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

New Delhi, Traders' body CAIT on Tuesday said it is expecting an expenditure of Rs 4.74 lakh crore in the upcoming <keyword id="6393318" type="General" weightage="20" keywordseo="wedding-season" source="Orion">wedding season</keyword> from November 23 to December 15, which is likely to see almost 38 lakh marriages. The expenditures related to <keyword id="6358814" type="General" weightage="20" keywordseo="wedding" source="Orion">wedding</keyword> purchases and procurement of various services by consumers this season are almost Rs 1 lakh crore more than the year-ago period, the Confederation of All India Traders (CAIT) said. The estimates are based on inputs from trade bodies in 30 cities in different states and stakeholders in goods and services. "During this period (November 23-December 15), it is estimated that around 38 lakh weddings will be solemnised with a total expenditure of around Rs 4.7 lakh crore," CAIT Secretary General Praveen Khandelwal told PTI on the sidelines of a press conference. "Last year, there were almost 32 lakh weddings with a total expenditure of Rs 3.75 lakh crore. So, this year there is (expected to be) an increase (in expenditure) of almost Rs 1 lakh crore which is a good sign for the Indian economy and retail trade," he said. The wedding dates during the season are November 23, 24, 27, 28, 29, and December 3, 4, 7, 8, 9 and 15, CAIT said. Khandelwal said in Delhi alone over 4 lakh weddings are expected this season, which could generate a business of about Rs 1.25 lakh crore.

Upcoming wedding season likely to generate Rs 4.7 lakh cr business in India : CAIT

<ul class="summary-list"><li>Mark Zuckerberg and Priscilla Chan attended the Ambani family's pre-wedding festivities. </li><li>The couple broke away from their typical understated style and went all in with loud luxury. </li></ul>The Zuckerbergs don't typically flaunt their riches. But the couple didn't hold back while attending the <a target="_blank" href="https://www.businessinsider.com/ambani-wedding-rihanna-ivanka-trump-radhika-merchant-fashion-2024-3">Ambani family's pre-wedding celebrations</a>.The couple were among the celebrities and wealthy elite who gathered in Gujarat, India, to celebrate the coming nuptials between <a target="_blank" href="https://www.businessinsider.com/ambani-wedding-guests-celebrities-performance-dress-code-party-billionaire-2024-3">Anant Ambani and Radhika Merchant</a>. Anant is the son of Mukesh Ambani, one of the richest men in Asia, whom <a target="_blank" class="editor-rtfLink" href="https://www.bloomberg.com/billionaires/">Bloomberg</a> estimated was worth $113 billion.The three-day festivities have been nothing short of lavish, with a <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/rihanna-india-ambani-wedding-private-celebrity-concerts-2024-3">private concert by Rihanna</a> and a communal dinner for 51,000 people. Guests were also given a nine-page dress code for the various events, which may have prompted Zuckerberg and Chan to try a new aesthetic: <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/loud-luxury-items-popular-designer-brands-2024-1">loud luxury</a>.Loud luxury describes bold symbols of wealth meant to draw attention — as opposed to the also-buzzy but more-subtle trend of <a target="_blank" href="https://www.businessinsider.com/quiet-luxury-explained-which-brands-will-benefit-2023-4">quiet-luxury</a> items that don't necessarily scream their worth.<h2>The Zuckerbergs tend to use subtle symbols of wealth but paid top dollar for their bold pre-wedding ensembles</h2>Fans familiar with Zuckerberg and Chan know they have a propensity toward quiet luxury. The trend is difficult to spot, but one example is Zuckerberg's habit of wearing <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/mark-zuckerberg-favorite-tshirt-2017-7">basic gray T-shirts that cost from $300 to $400</a>.The couple's weekend in India, however, was full of loud luxury.Zuckerberg and Chan began the celebrations on Friday by wearing two black outfits designed by Alexander McQueen, <a target="_blank" class="editor-rtfLink" href="https://www.vogue.in/gallery/at-the-pre-wedding-events-of-radhika-merchant-and-anant-ambani-who-wore-what-from-alia-bhatt-to-deepika-padukone">Vogue</a> reported. Zuckerberg's black shirt and matching pants were paired with the Alexander McQueen firefly-themed jacket, which is <a target="_blank" href="https://www.alexandermcqueen.com/en-us/pr/dragonfly-applique-single-breasted-jacket-774912QVAAA1000.html">priced at $7,000</a>. Chan's floor-length gown features bold gold floral accents and is <a target="_blank" href="https://www.alexandermcqueen.com/en-us/pr/gold-rose-embroidery-evening-dress-790979QEAAA1000.html ">available for $15,000</a>.The couple kicked their style up a notch the next day when Zuckerberg wore a shimmering tigress-themed shirt designed by <a target="_blank" href="https://www.instagram.com/p/C4DaD-8hxkc/?hl=en&amp;img_index=5">Rahul Mishra</a>, who shared photos on his Instagram account.The <a target="_blank" class="editor-rtfLink" href="https://rahulmishra.in/products/le-soleil-sundarbans-short-shirt">organza shirt</a> is available on Mishra's website, but customers must request the official cost — suggesting a hefty price tag. That night, both Zuckerberg and Chan wore different outfits designed by Mishra, who shared photos of the occasion on his Instagram Stories. Chan wore a two-piece outfit decorated with nature-themed adornments such as two gold birds. Zuckerberg's outfit was also modeled after wildlife with flowers and other foliage designs.<div type="image" title="Screenshot of Mark Zuckerberg and Priscilla Chan on Rahul Mishra's Instagram Story." height="2532" width="1170" msid="108188229" hostid="261"></div>Although the couple's outfits weren't immediately visible on Mishra's website, they no doubt cost a pretty penny. On his website, <a target="_blank" class="editor-rtfLink" href="https://rahulmishra.in/products/hand-embroidered-navbhumi-lehenga-set-3?variant=43670784278757">lehenga sets for women</a> can cost as much as $18,799, while a <a target="_blank" class="editor-rtfLink" href="https://rahulmishra.in/products/hand-embroidered-navbhumi-sherwani-set?variant=43457170178277">men's sherwani set</a> is more than $7,000. The prices of many items on Mishra's website are available only upon request.On Sunday, Chan shared her and Zuckerberg's most recent outfits in an <a target="_blank" class="editor-rtfLink" href="https://www.instagram.com/p/C4EEyTqyRs5/?hl=en">Instagram post</a>. Chan wore a purple saree with small floral designs sewn into the fabric, while Zuckerberg wore a beige-colored ensemble with leaf designs. It's unclear who designed the outfits.

The Zuckerbergs were all about 'loud luxury' at the Ambani family's opulent pre-wedding festivities in India 

Following the much-hyped performance by Rihanna at the pre-wedding event of <keyword id="15914777" type="General" weightage="20" keywordseo="Anant-Ambani-and-Radhika-Merchant" source="Orion">Anant Ambani and Radhika Merchant</keyword> in Jamnagar, the <keyword id="20097729" type="General" weightage="20" keywordseo="Ambani-family" source="keywords" meta.keywordsubtype="org" meta.entityname="Ambani family" meta.hostid="261" meta.entityid="Ambani family">Ambani family</keyword> is once again making headlines. Sources told India Today that there is strong speculation that singers <keyword id="7860" type="General" weightage="20" keywordseo="adele" source="Orion">Adele</keyword>, <keyword id="248848" type="General" weightage="20" keywordseo="drake" source="Orion">Drake</keyword>, and <keyword id="912952" type="General" weightage="20" keywordseo="Lana-Del-Rey" source="Orion">Lana Del Rey</keyword> could be performing at the upcoming wedding event in Mumbai. According to India Today, singers Adele, Drake, and Lana Del Rey might arrive in India to perform at the wedding celebrations scheduled for July 12-14. The publication also mentioned that negotiations are currently underway to secure the dates of these artists for the event. <h2>Wedding events on July 12-14 in Mumbai</h2>Anant and Radhika’s wedding is scheduled to take place at the Jio convention centre in Mumbai, which will commence with an intimate Puja ceremony at Ambani’s residence Antilia. Their wedding spans three days and includes three events: 'Shubh Vivaah' on July 12, 'Shubh Aashirwad' on July 13, and 'Mangal Utsav' (wedding reception) on July 14. The Ambani pre-wedding event at Jamnagar was a star-studded affair, attracting major celebrities from Bollywood and the business world. Among the A-list attendees were business magnates like Meta CEO Mark Zuckerberg and his wife Priscilla Chan, while Bollywood stars like Shah Rukh Khan with his family, Salman Khan, and the power couple Ranveer Singh and Deepika Padukone added to the glamour. Ahead of the main wedding event, Mukesh and Nita Ambani were seen involved in multiple activities. On July 2, they organised a mass wedding for over 50 underprivileged couples from Maharashtra’s Palghar district. The mass wedding was held in the Reliance Corporate Park in Thane, with over 800 guests from the couples’ families.

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