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Ah, <keyword id="18712" type="General" weightage="20" keywordseo="Gold" source="Orion">gold</keyword>! The shiny metal that's been making humans lose their minds since time immemorial. And yet, from King Midas to our neighbourhood aunty and even our moms (and secretly dads), everyone seems to have a super soft spot for the bullion. But here's the kicker: right now, gold prices are breaking all records on their upward trajectory! As of today, prices of 24k carat gold have passed the Rs 80,000 mark per 10 grams. And if experts are to be believed, this train isn't stopping anytime soon! So, as shiny as gold might look, adding even a bit of its glitter as we start decking up for the festive season might not be so easy on your pockets. But let's admit it—we love our gold and can't live without it. No wonder India is the second-largest consumer of the yellow metal in the world, only behind <keyword id="1334" type="General" weightage="20" keywordseo="China" source="Orion">China</keyword>. Such is our fondness for the metal that the <keyword id="20195223" type="General" weightage="20" keywordseo="world-gold-council" source="keywords">World Gold Council</keyword> had to up our 2024 annual demand forecast to 850 tonnes, up from the previously estimated 750 tonnes. However, our love for gold isn't just about looking fabulously embellished and blinding people with its bling. Indians also see gold as a long-term, trusty investment, supporting our other hard-earned assets, especially when high <keyword id="22195" type="General" weightage="20" keywordseo="Inflation" source="Orion">inflation</keyword> rates pull our returns down. After all, while inflationary pressures generally weaken the purchasing power of our regular paper money, gold is built differently. When the world is buckling to inflation, gold gains value during these times. This is also why it is considered a solid hedge against inflation. With Diwali and Dhanteras knocking at our doors, the inflation demon continued to bother India like a guest who refused to leave. Just last month, the Consumer Price Index (CPI) stood at 5.49%, much higher than the anticipated levels. Moreover, the diverging policy stances among central bankers worldwide, growing geopolitical tensions, tough job markets, and extreme weather events are only adding to the uncertainty. In such economically uncertain times, what should your gold strategy be this festive season? To buy or not to buy, that is the question. Well, let’s get to it. <h2><keyword id="20050894" type="General" weightage="100" keywordseo="gold-etfs" source="keywords">Gold ETFs</keyword> to the rescue</h2>See, buying physical gold jewellery is certainly a flex, but also a financial fuss. First, you pay a heavy amount to buy gold. Not to mention all those extra, hefty jewellery-making charges. And then you pay even more money to keep it safe in a bank locker, lest it get stolen. But what if we tell you that you can own pure <keyword id="3311599" type="General" weightage="20" keywordseo="24K-gold" source="Orion">24k gold</keyword>, minus all these frills? Welcome, Gold ETFs (Exchange Traded Funds). Simply put, gold ETFs are like the cool cousins of your traditional gold investments. Instead of stashing gold bars under your mattress like those maniac millionaires we see in Bollywood films, you can now invest and trade in gold through the stock market. It's basically buying units of an ETF on the stock exchange that directly mirror the ongoing domestic prices of gold. Generally, gold ETFs are equivalent to 99.5% pure physical gold bars, and each ETF unit denotes actual, one gram of gold. And let's face it, who would not want that golden glow in their lives? Gold ETFs have witnessed an over seven-fold surge in their AUM (assets under management) in just the last five years. From Rs 5,613.22 crore in September 2019 to Rs 39,823.50 crore in September 2024, gold ETFs seem to be in-thing. Inflows in gold ETFs have shot up by a whopping 2,695% over the last 5 years. In September 2019, gold ETFs had garnered a mere Rs 44.11 crore. Compare that to the inflows worth Rs 1,232.99 crore gold ETFs received last month. Talk about growing, or glowing popularity! In fact, in just 2024, inflows in gold ETFs have surged by nearly 88% since the beginning of this calendar year. From Rs 657.46 crore in January 2024 to Rs 1,232.99 crore in September 2024, good old gold is never out of season. <h2>So, how do these ETFs work? Should I invest in them now?</h2>All you need is a Demat account. Log into your account, choose the gold ETF scheme you want to invest in, and voila! You’re now a bullion-aire! All your gold ETF units will be stored in this account. Then, you can buy and sell gold ETFs just like you buy shares—in real-time. So, if gold prices inch upwards, which is where gold is currently going, the value of your ETF units will also rise in lockstep. Ashwini Kumar, Senior Vice President and Head of Market Data at ICRA Analytics, says that of late, gold ETFs have been increasingly gaining popularity among investors due to the liquidity, safety and transparency they offer. "With the escalating global geopolitical tensions boosting the ‘safe-haven’ appeal of the bullion, investors are preferring to park their funds in gold ETFs as compared to investing in physical gold, as there is no hassle of storing it. The heightened activity in gold ETFs is also driven by the prospects of an imminent further interest rate cut by the <keyword id="20078761" type="General" weightage="20" keywordseo="u-s-federal-reserve" source="keywords">U.S. Federal Reserve</keyword> in the coming months,” he added. “Investors with a short- to medium-term investment horizon may consider investment through gold ETFs. A buy-on-dips strategy here may help investors capitalise on a temporary correction in prices. Also, given the current market dynamics where equities are showing mixed trends, a modest, 5-10% allocation to gold may serve as a hedge against inflation and market volatility, which may help you balance risks in an optimum manner,” Kumar noted. <h2> Wait, there is no dearth of options</h2>But if ETFs make you go WTF, there’s always digital gold. You can invest in the yellow metal without actually physically holding it for as low as Rs 1. The best part? You can buy or sell this gold 24 X7 seamlessly via multiple apps without having to pay storage costs. On your behalf, your gold is stored in insured vaults by the seller. But remember, digital gold continues to remain unregulated territory in the country, where you venture at your own risk. In 2021, market watchdog SEBI had even asked its members to desist from selling digital gold. Then there are gold mutual funds and the Sarkari SGBs, or sovereign gold bonds. While gold mutual funds invest primarily in gold ETFs, SGBs are issued by the <keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword> and are also a reliable substitute for holding physical gold. However, with the RBI currently putting brakes on issuing SGBs, investing in them is out of the question. Plus, you should only get your hands on SGBs if you're in for the long haul. Apart from a 2.5% p.a. interest, you don't have any yearly earnings from them. Moreover, no premature redemption is allowed before 5 years, and you'll have to wait a good 8 years to maximise your returns. <h2> Okay, tell me about returns</h2>In contrast, the seventeen gold ETF schemes currently present in the market offer an average one-year return of 29.12%. Stay with it a little longer, and you can end up with returns worth 16.93% and 13.59% over a 3 and 5-year period, respectively. If you look at it, these returns are comparable with the returns delivered by actual, physical gold. Data from Value Research indicates that gold, as a commodity, has delivered returns worth 27.24%, 16.53%, and 14.18% over a 1, 3, and 5-year period, respectively. So, worth investing, right? <h2>What are the risks?</h2>See, stock markets are as unpredictable as monsoons in Mumbai. One significant market correction can wash away your returns, and one sunny day or an upswing can leave you wallowing in wealth. Since your gold investments are directly linked to these markets, you should steel yourself up for some volatility. Plus, international gold prices are in dollars. So, if our rupee decides to take a nosedive, your returns might look a bit tarnished. Also, know that your ETF might not always perfectly mirror gold prices, which is also known as a tracking error. It's like expecting your Zomato-ordered food to look exactly like the picture on the menu—it's close, but not quite. Then there’s the taxation bit. The budget this year brought down the <keyword id="20552259" type="General" weightage="20" keywordseo="ltcg" source="keywords">LTCG</keyword> (long-term capital gains tax) on gold ETFs from the previous 20% to 12.5% (sans indexation). LTCG is what you pay if you sell your ETF units after 12 months. If you sell your gold ETF units within a year and make handsome returns, the tax you’ll have to pay will be equivalent to your income tax slab rate. <h2>Is gold just for old?</h2>A survey by fintech firm Moneyview thinks otherwise. Per their findings, over 85% of the 3,000 respondents it talked to considered gold to be a valuable asset for wealth preservation, with its intrinsic value and historical performance continuing to drive consumer confidence. Particularly, young investors in the age group of 25–40 years are also investing in gold via both physical and digital ways to build wealth for retirement and other long-term goals. So, young or old, everyone’s going for gold. So, this festive season, with gold prices going north, investing in gold can add that much-needed glitz to your financial attire. But remember, don't go overboard since gold isn't exactly a high-return-yielding asset. But whether you're a seasoned investor looking to diversify or a newbie trying to make their way in the markets, investing in gold offers you a glittering safety cushion. Just remember, while gold can make your portfolio shine, it's your smart investment decisions that truly make you golden. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend readers consult certified, qualified, and registered advisors for professional and personalised financial advice.

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

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

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

Who does not love to travel? Most of us would give anything to take a long break from our regular work life and travel the world! And if the vacation rental behemoth <keyword id="19900375" type="General" weightage="20" keywordseo="Airbnb" source="keywords" meta.keywordsubtype="org" meta.entityname="Airbnb" meta.hostid="261" meta.entityid="Airbnb">Airbnb</keyword> is to be believed, Indians are taking to traveling with renewed vigor. When it comes to international travel right now, most Indians are traveling to Tokyo, largely to witness the momijgari (red leaf hunting), or the autumn tradition where leaves turn red, which makes for a breathtaking sight. For those seeking a little peace and quiet, the Amalfi Coast, off the Mediterranean Sea is in vogue. Baku, the capital of Azerbaijan and Kazakhstan are also being increasingly making their way on the travel wish list of most Indian travellers. Per Airbnb, other countries on this list include Montenegro, Norway, Luxembourg, and Georgia. Closer home, the bustling city of Kanpur in Uttar Pradesh is amongst the top travel destination for most Indians, along with the tropical Lakshadweep. People are also flocking to Ujjain and the hilly, quaint town of Munsiyari in Uttarakhand to take a well deserved break from their hectic lives. Says Vinay Bagri, Co-founder and CEO, Niyo, a travel banking platform"India’s growing middle class and increasing incomes are driving the rise in outbound travel. Additionally, India’s soft power diplomacy is shaping global travel industry trends. According to the Henley Passport Index, there are 62 countries where Indian passport holders can travel visa-free". "Niyo has seen a 60% growth in international travel over the past year. 55% among leisure travelers, 70% in student travel, and 25% in business travel. Interestingly, 40% of the customers we onboarded were first-time international travellers”, he continued. <h2>Be financially prepared</h2>But while it is great to travel, or take that dream vacation or overseas trip, setting aside money for the same can certainly be a herculean task. That's why, the key to a stress-free getaway, irrespective of it being a short break or an extended adventure, lies in making strategic investment choices. Here are some ways in which you can create a healthy corpus for your travelling, all from your savings: Creating a Vacation Budget Establish a comprehensive budget that covers expenses such as travel, currency exchange rates, time off from work, and the number of travelers. Conducting in-depth research on your destination, the best time to visit, and other relevant details can also lead to significant savings. A good idea is to plan in advance the number of vacations you wish to take each year. Deciding and booking your tickets ahead of time can help you save costs. Also, having a dedicated <keyword id="23343124" type="General" weightage="20" keywordseo="Travel-Fund" source="keywords">travel fund</keyword>, separate from your daily expenses, helps you stay focused. Consider using a fixed deposit or a liquid mutual fund to watch your money grow faster. Per Swati Bhargava, Co-Founder of CashKaro and EarnKaro, building a travel fund not only allows you to experience your dream vacation, but also fosters healthy financial habits that prevents debt and maximizes the value of your hard-earned money. Short-term Gains for Quick Access Says Bhuvan Rustagi COO &amp; Co-founder of Per Annum, "By exploring options such as recurring deposits, liquid funds and short-term bonds, individuals can enhance their financial flexibility, which can also help them plan any spontaneous adventures". Don't let your travel fund sit idle in a savings account. You can invest it in various short-term instruments, depending on your risk appetite. In case you want to play it safe, a recurring deposit or liquid funds are a good option. For people willing to take on more risk, P2P lending can also be a good option. Automate your way By setting up recurring transfers from your primary account to a dedicated travel savings account, you can ensure that a portion of your income is automatically saved each month. This disciplined approach will eliminates the temptation to spend impulsively, and will also help you stay committed to your travel goals. During the festive season, which will set in from next month, most online platforms, websites, and aggregators abound with enticing discounts on flights and hotels. Keep a keen eye on these deals, and you can significantly reduce travel expenses and plan your trip more efficiently. During the sales, travel portals often offer exclusive discounts tied to specific banks or release flash sales. That is also a great way to maximize your savings on travel. Many Indians are also turning to <keyword id="23343125" type="General" weightage="20" keywordseo="Cashback-Platforms" source="keywords">cashback platforms</keyword> to maximize their savings on travel bookings. According to reports, the travel sector sees an average cashback rate of 8%, the highest of all sectors. Further clubbed with credit cards you save a lot more on your hotels &amp; flights. No wonder, travel credit cards emerged as the frontrunners, experiencing a remarkable 27% YoY growth in 2023. "For those planning a festive season getaway, combining multiple offers can lead to substantial savings, making your dream destination more affordable”, continues Bhargava So, what are you waiting for? Start planning your next travel destination now. With smart investments and budgeting, it might happen for you, sooner than you think!

World Tourism Day: Here's where India is travelling to, and how you too, can join the bandwagon

<keyword id="722345" type="General" weightage="80" keywordseo="nifty-bank" source="Orion">Nifty Bank</keyword>, which is comprised of the most liquid and large capitalised Indian banking stocks, is up 11.76 per cent so far this year due to robust earnings growth of banks, return of foreign investors in Indian equities since July and attractive valuations. Currently, the <keyword id="6354813" type="General" weightage="100" keywordseo="nifty" source="Orion">Nifty</keyword> Bank index is trading at 39,656.15, as compared to 35,481.70 on December 31, 2021. According to the data compiled by <keyword id="824141" type="General" weightage="50" keywordseo="geojit-financial-services" source="Orion">Geojit Financial Services</keyword> showed, the top three banks that have outperformed the index were Bank of Baroda with YTD returns of 47.90 per cent, Federal Bank with 21.20 per cent, and IndusInd Bank with 21.10 per cent. On Thursday, <keyword id="46013" type="General" weightage="50" keywordseo="kotak-mahindra-bank" source="Orion">Kotak Mahindra Bank</keyword>, Bandhan Bank, Federal Bank, <keyword id="6354731" type="General" weightage="50" keywordseo="state-bank-of-india" source="Orion">State Bank of India</keyword>, IndusInd Bank, HDFC Bank, AU Small Finance Bank, ICICI Bank, Axis Bank, PNB, <keyword id="6986952" type="General" weightage="50" keywordseo="idfc-first-bank" source="Orion">IDFC First Bank</keyword>, and Bank of Baroda were stocks in the Nifty Bank index. "The banking sector has demonstrated strong resilience so far this year, supported by multiple factors. 1. Strong quarterly earnings driven by robust credit growth, margin expansion, improved asset quality and lower provisioning; 2. FIIs return to buying mode due to favourable economic factors; 3. Attractive valuation. We believe that the rally is still in its early stages and that valuations have room to rise further, given improved fundamentals," said Vinod Nair, Head of Research at Geojit Financial Services. According to the ICICI Securities report, banks under their coverage in Q1 FY23 reported 16 per cent on-year and 2 per cent on-quarter growth in net interest income. Core operating profit grew 17 per cent on-year, while <keyword id="6374832" type="General" weightage="80" keywordseo="treasury" source="Orion">treasury</keyword> loss dragged operating profit lower by 13 per cent on-year and 18 per cent on-quarter. Subsiding credit cost and lower base supported 35 per cent on-year earnings growth. However, earnings of State Bank of India, HDFC Bank and Kotak Mahindra Bank lagged I-Sec expectations due to higher than anticipated treasury loss and elevated opex. G-sec yields surged 65 basis points since March to 7.5 per cent till June and corporate bond yields by 70 basis points. This created pressure on treasury profits for banks that dragged overall earnings growth. Having 25-60 per cent of investment portfolio in AFS/HTM with 1-2 years of modified duration led to a treasury knock. Banks with relatively higher investment in corporate bonds (credit substitute) witnessed above-expected hit. On an average, banks registered treasury loss equivalent to high single digit of revenues and 15 per cent of core operating profit. Banks' upbeat stance on growth was reflected in advance growth of 2-4 per cent on-quarter in Q1 FY23, otherwise a seasonally slow quarter. Growth was primarily led by retail and proportion of unsecured retail advances inched up. Sequential loan growth momentum was dragged by 2-wheeler segment and agri (in few banks). While, inflows of foreign investors in the Indian equities was Rs 21,252.60 so far from July 28. Foreign investors turned buyers since late July after remaining sellers in the equities for almost 9 months. Experts believe that foreign investors have returned to Indian market because India is preferred destination as country has best growth prospects among large economies of the world. FPIs have turned net buyers in autos, capital goods, FMCG, and Telecom. Due to this, the Sensex is now trading above 60,000 mark and Nifty over 17,900. Going forward, profitability of banks is expected to improve with a robust credit growth outlook and improving asset quality. Additionally, in the rising interest rate scenario, banks with a higher proportion of flexible loans will showcase margin expansion. "We expect that the mark-to-market impact of rising bond yields on treasury income will hurt banks, particularly PSUs in the short term, who have higher investments in bonds. We continue to recommend top private sector banks that are better poised to reap the benefits of economic recovery with stronger balance sheets and neat loan books. The sector is currently trading at its 5-year averages, which indicates significant room for expansion. However, the near-term trend will be dictated by the movements in FII activities," Nair added. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/zomatos-quick-commerce-app-blinkit-to-deliver-printouts-at-your-doorsteps-in-11-minutes/articleshow/93651814.cms">Zomato’s quick commerce app Blinkit to deliver printouts at your doorsteps in 11 Minutes</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/rupee-expected-to-trade-at-around-79/-on-fii-inflows-easing-crude-prices-bob/articleshow/93651698.cms">Rupee expected to trade at around 79/$ on FII inflows, easing crude prices: BoB</a>

Nifty Bank index up over 11% so far this year, BoB outperforms index

<ul class="summary-list"><li>Parts of India could become too hot for human survival in future heatwaves, a report warned. </li><li>Indian employees already work in "potentially life-threatening temperatures" at times, it said. </li></ul>A new report from the World Bank warns that temperatures in parts of India could push beyond what is survivable by humans within the span of a few years. The details were cited by several <a href="https://www.ndtv.com/india-news/india-could-soon-experience-heat-waves-beyond-human-survival-limit-world-bank-3584977">Indian</a> <a href="https://www.indiatimes.com/news/india/soon-india-could-experience-heatwaves-beyond-human-survival-limit-warns-world-bank-586946.html">outlets</a> and <a href="https://www.independent.co.uk/independentpremium/world/india-heatwaves-world-bank-report-b2241633.html">UK newspaper The Independent</a>, which said they had advance sight of the report.The report, due for release on Saturday, includes numerous recommendations for investing in cooling technologies in India, where demand is predicted to rapidly increase in the face of a warming planet. "Soon India could become one of the first places in the world to experience heat waves that break the human survivability limit," the document said, per the reports.It was prepared on the occasion of a two-day conference between the government of India's Kerala region and the World Bank, The Independent reported. <a href="https://www.businessinsider.com/india-birds-fall-from-sky-india-amid-record-122f-heatwave-2022-5">India already experienced a crushing, weekslong heatwave</a> earlier this year, where temperatures in several cities <a href="https://www.nytimes.com/2022/07/14/opinion/environment/heat-waves-india-pakistan-climate-change.html">reached passed 110°F</a>.It represented a peak for <a href="https://www.businessinsider.com/heat-waves-are-dominating-summer-and-its-not-abnormal-anymore-2022-7">soaring temperatures worldwide,</a> with parts of the US and <a href="https://www.insider.com/photos-show-how-people-are-dealing-with-european-heatwave-2022-7">Europe</a> also struggling to adapt to high humidity and waves of <a href="https://www.businessinsider.com/photos-maps-forecast-extreme-heat-fires-may-last-weeks-2022-7">wildfires</a>. In India's capital of New Delhi, the temperature reached 114°F — and such heatwaves "are increasing with alarming frequency," the report said.<a href="https://www.carbonbrief.org/state-of-the-climate-2022-on-track-for-a-summer-of-extreme-heat/">Climate scientists overwhelmingly attribute</a> long-term temperature change to human-caused carbon emissions. If India does not curb its carbon emissions, its heatwaves are "likely to last 25 times longer by 2036-65," the World Bank report said, <a href="https://www.g20climaterisks.org/india/">citing a 2021 assessment by the G20</a>.According to the World Bank report, India will need "massive cooling infrastructure across all sectors" in order to protect vulnerable workers."Up to 75 percent of India's workforce, or 380 million people, depend on heat-exposed labor, at times working in potentially life-threatening temperature," the report said.The impact both on labor productivity — and human health — is severe, with many working within "potentially life-threatening temperatures" at times, it said. But, with the average income being $2 a day, conventional electric fans or air conditioning units are out of reach for many, it said.

India could suffer heatwaves that 'break the human survivability limit,' World Bank says

<ul class="summary-list"><li>The West has tried for more than two years to cripple Moscow's finances by way of sanctions.</li><li>But the West hasn't blocked all Russian banks' access to SWIFT due to potential global impact.</li></ul>When Russia first invaded Ukraine, the West slapped Moscow with swathes of sanctions in an attempt to cripple its finances and force it to end the war quickly.However, more than two years later, the war is ongoing and the Kremlin is touting its <a target="_blank" href="https://www.businessinsider.com/russias-economy-roaring-start-sanctions-stock-markets-putin-central-bank-2024-4">robust economy.</a>But it's not because the sanctions are not effective. It's really because the West hasn't gone all the way. There's one major thing the West could, but won't, do: kill all Russian banks' access to the Society for Worldwide Interbank Financial Telecommunications, or SWIFT.<h2 id="1b0f6063-804e-487a-8e55-39b22b26b104">The West hasn't gone all in to block Russian access to SWIFT</h2>From February to May 2022, the <a target="_blank" href="https://www.businessinsider.com/us-eu-announce-some-russian-banks-removed-from-swift-2022-2">US and European Union</a> repeatedly moved to block some Russian banks' access to SWIFT — but spared those that process international oil and gas payments.That's because Russia is a major energy exporter, so abruptly cutting off all its banks' access would have a massive knock-on impact globally."There'd be a lot of collateral damage that would affect non-Russian banks and other banks in the international banking system," Alex Capri, a senior lecturer at the National University of Singapore, told Business Insider.The international banking system is interconnected. <a target="_blank" href="https://www.tradefinanceglobal.com/en-sg/trade-finance/">Trade financing</a> involving multiple parties moves down complex supply chains as commodities move from the supplier to the end buyer."If you paralyze the entire Russian banking system, there'll be other banks around the world that will take the brunt of it as well, because they finance trade and other commodities," said Capri, who described cutting off the access of all Russian banks as "the nuclear option."However, if things get "really bad," such as in a rapid expansion of the war in Ukraine, the West could "absolutely" double down and shut the Russian banks from SWIFT, added Capri, who was the regional leader of KPMG's international trade and customs practice in Asia Pacific and a former international trade specialist at the US Customs Service.But it may not come to such a step after all.<h2 id="aadb4ad3-b1f6-46a1-922a-66137f818f77">'Russia's economy is in deep, deep trouble'</h2>Despite the West's frustration with how Russia's economy still appears to be holding up, the sanctions appear to be finally working.This is in part due to secondary sanctions. The West has tightened its restrictions <a target="_blank" rel="" href="https://www.businessinsider.com/china-biggest-banks-stop-russia-payments-icbc-ccb-boc-2024-2">against companies in third-party countries </a>that still do business with Russia.So while Russia has been able to hang on to its economy so far, the economy is in "deep, deep trouble" in the medium term, Richard Portes, an economics professor at London Business School, told BI.Portes cited the scaling back of Russia's "natural trade partners" — those near the country geographically — as a major stumbling stone."Russia is not trading with Europe, so the opportunities, the possibilities for profitable, sensible trade, are very limited," Portes told BI.While Russia has managed to pivot most of its oil exports from Europe — previously its single largest market — to <a target="_blank" href="https://www.businessinsider.com/russia-economy-divert-oil-exports-europe-india-china-circumvent-sanctions-2023-12">India and China,</a> such a move comes with costs that include lower selling prices and logistical challenges."These alternatives cannot properly, effectively, efficiently, productively replace trading with Europe," Portes said.Human capital and investment are also flowing out due to Russia's <a target="_blank" href="https://www.businessinsider.com/russian-economy-brain-drain-labor-shortage-workforce-exodus-capital-flight-2023-9">brain drain</a> and the West's restrictions on investment and trade."In five years, you're going see a really disastrous slowdown in the Russian economy," said Portes, who called for stronger sanctions enforcement.<h2 id="493819ca-3fb9-4443-82f4-8bab3ebb9124">Russia cannot create foreign reserves</h2>One key reason why Russia's economy is unlikely to hold up is due to the finite nature of its reserves."Russia can compensate for a fall in revenues from natural resource exports using its gold and currency reserves, as well as the effect of shrinking imports," Alexander Kolyandr, a financial analyst, wrote in a post for the <a target="_blank" href="https://carnegieendowment.org/politika/92158">Carnegie Endowment for International Peace</a> on April 9. "But reserves are not infinite, and there is a limit to how far imports can contract."Portes agreed with this stance."Unless there was a big increase in the oil price or some other windfall, they would have major problems financing imports over the next couple of years in the near-term future," Portes said.In a reflection of how financially isolated Russia has become, the country has limited options other than the Chinese yuan for its reserves, the Central Bank of Russia said in a <a target="_blank" href="https://www.cbr.ru/StaticHtml/File/159640/kgo_2023.pdf">report in March.</a>In April 2022, Russia's central bank governor Elvira Nabiullina warned <a target="_blank" rel="" href="https://www.businessinsider.com/russian-central-banker-warns-country-reserves-finite-nabiullina-ukraine-war-2022-4">Russia's reserves</a> can't last forever."A significant problem is that they are running out of foreign exchange reserves, and you can't create foreign reserves," Portes added.

The West can't completely isolate Russian banks because it would be disastrous beyond Russia

We are once again at a crucial point in the world's economic recovery. Everything must go right, or global markets could turn violent.For the past four years, the world has been unified in its efforts to first ease the economic pain caused by the pandemic and then combat the historic bout of inflation that followed. When the pandemic set in, central banks around the world slashed rates to zero — just as they did during the financial crisis. Then as inflation set in, they started raising rates at a rapid clip unseen in decades. They did all this in nearly perfect time, which ensured that markets remained stable and predictable. But now, the world risks falling out of sync.The <a target="_blank" href="https://www.businessinsider.com/ecb-lagarde-economy-interest-rates-cuts-inflation-growth-central-banks-2024-6">European Central Bank began easing interest rates </a>on Thursday, cutting its benchmark rate by 0.25%. The move is not only a sign of confidence that the eurozone is in the last bouts of its battle with inflation but also an indication of worry that the economy needs a small boost to keep rolling. Investors and economists expect the Federal Reserve to follow suit and cut interest rates <a target="_blank" href="https://www.businessinsider.com/fed-interest-rate-decision-may-rates-held-steady-no-cuts-2024-5">in September</a>. And so, the story goes, central banks around the world will begin their coordinated descent into a soft landing — a perfect calibration of that push-pull between fighting inflation and evading a recession.The thing is, reality has been making a mockery of experts' assumptions all year long. Wall Street started the year expecting inflation to cool off, the economy to slow to a more leisurely pace of growth, and as many as <a target="_blank" href="https://www.businessinsider.com/interest-rates-2024-outlook-rate-cut-predictions-wall-street-stocks-2023-12">six interest rate</a> cuts from the Fed. Instead, inflation data has consistently come in hot, and the US economy's strength has defied expectations. This combination means there's a good chance that the September cut Wall Street is praying for may never materialize."Summer will definitely be interesting," Tamara Basic Vasiljev, a senior economist at Oxford Economics, told me. Her base case is that everything will go according to plan, but there are caveats: "The Fed has proven its ability to fight off any kind of financial stability issues. But what if services inflation keeps surprising to the upside through the summer? Then it becomes apparent they can't even cut in September."If the Fed doesn't cut come fall, America's high interest-rate regime will be out of step with the rest of the world. And any differential between the US and the rest of the world would send a weird wave of money crashing onto America's shores. That sudden surge of cash could, in turn, add liquidity to our financial system just as the Fed is trying to dry it up and push up prices around the economy. This would make it even harder for the Fed to ease, further diverging US policy from the rest of the world. Think of it as a vicious cycle standing in the way of the world's smooth, soft landing.Over time, this has the potential to add volatility to already skittish markets. Here in the US, stocks move on mood — one week, Wall Street thinks we're in for stagflation; the next, it believes a soft landing is coming. This divergence in interest policy, over time, has the potential to bring that same frantic energy to currency markets.<h2>The carry nation</h2>Wind is the result of an imbalance: air moving from areas of high pressure to areas of low pressure. The greater the pressure differences, the faster the wind blows. The same principle applies to the global flow of cash — investors chase imbalances, and sometimes things get blown over in the process.The US already has somewhat higher interest rates than other countries — the Fed's benchmark rate is <a target="_blank" href="https://www.businessinsider.com/fed-rate-cuts-forecast-2024-full-accommodation-economic-contraction-unemployment-2023-11">5.25%- 5.50%.</a> These differentials have allowed Wall Street to make what is called a "<a target="_blank" href="https://markets.businessinsider.com/news/currencies/foreign-exchange-funds-central-banks-fed-rate-hikes-carry-trade-2023-11">carry trade</a>": Investors borrow money from a country with low interest rates, invest it in bonds from a country where interest rates are high, and pocket the difference. In this case, that means moving money from the rest of the world and buying US assets, particularly government bonds. This trade has been hot since the start of the year — investment banks like JPMorgan and UBS recommended it to clients, and a Bloomberg index based on selling the lowest-yielding G10 currencies and buying the highest ones has already returned 7% this year. The Institute of International Finance reported that in May alone, Emerging Markets ex-China — where rates are also higher — saw bond-market inflows of $10.2 billion, mostly due to investors benefiting from carry trades like <a target="_blank" href="https://www.marketwatch.com/livecoverage/stock-market-today-dow-futures-dip-as-growth-concerns-linger/card/japanese-yen-strengthens-as-risk-aversion-rises-carry-trade-crumbles-9tGHrcickLndc749YzTO">selling Japanese yen</a> to buy Mexican pesos. These trades are "everywhere," Peter Schaffrik, a global macro strategist at RBC Capital Markets, told Bloomberg. And the more rates diverge, the more attractive this march of money from weak to strong becomes.What seems like a slam dunk for Wall Street is not such good news for either the US or the global economy. At a time when economies in Europe and elsewhere are losing momentum, sucking more money away from these economies will tighten financial conditions while they're trying to avoid a slowdown — especially in crucial regional data like <a target="_blank" href="https://markets.businessinsider.com/news/stocks/european-shares-fall-amid-data-deluge-1033460481">German industrial production</a>, which has come in soft of late. It will also weaken the euro, which will make it harder for the continent to import the energy it needs to fuel its economy and make it more expensive to buy American goods. And in Asian economies, where interest rates are already significantly lower than in the US, things could get even messier."We expect that <a target="_blank" href="https://www.businessinsider.com/japan-yen-slump-intervention-currency-buy-us-involvement-interest-rates-2024-5">Japan</a> and South Korea will face challenges balancing monetary policy to maintain stability as the dollar appreciates," Nigel Green, the CEO of deVere Group, a global wealth-management firm, told me. "I wouldn't be surprised if policymakers feel the need to intervene in the currency markets or adjust interest rates to manage these effects."For the US, more money sloshing onto America's shores has the opposite impact of what the Fed wants to achieve: It pushes up asset prices and loosens financial conditions. In other words, it makes it harder for the Fed to fight the inflation that is aggravating consumers."There are legitimate concerns that this influx of capital into the US will increase liquidity, driving up asset prices and inflationary pressure, making it more challenging for the Fed to lower rates," Green said. "Increased liquidity can lead to inflationary pressures, which the Fed might need to counteract by maintaining or even raising rates."As Green mentioned, there's a way for the Fed to fight back: hiking interest rates some more. But jacking up interest rates even further could finally break the back of the <a target="_blank" href="https://www.businessinsider.com/recession-outlook-hard-landing-economy-consumer-spending-slowdown-growth-gdp-2024-5#:~:text=Consumers%20are%20finally%20slowing%20their,and%20a%20weakening%20job%20market.">until now strong US consumer</a> and send us into a recession. It's the same calculation the ECB is making, though the EU's slowdown is more marked. Given these downsides, the Fed is unlikely to hike, which will create the perfect market for the carry trade to thrive. And as long as US data remains choppy — pointing to sticky inflation one day and disinflation the next — this carry-trade cash will end up sloshing around in the economy. This is a dynamic that central banks from countries already on their rate-cutting path will be watching. They're already seeing growth slow and, on top of that, will have money sucked away to the US, where data has been relatively strong through the first half of the year. Carry-trade cash exploits the dislocations between global economies that are keeping our policies from coordinating. We're in the early innings, but the longer this goes on, the more of an impact it will make. For Wall Street, that means <a target="_blank" href="https://www.businessinsider.com/wall-street-summer-worry-stock-market-crash-inflation-hamtons-vacation-2024-5">a summer of vigilance</a>. For economists, it means the picture of our economy that they're trying to cobble together with contradictory data is even blurrier. It's a time of increased uncertainty.<h2>Sticky-ing the landing</h2>There is, of course, hope that this divergence will be only a temporary state of affairs. If the US suddenly starts printing weak economic data, that will hasten the Fed's move to cut rates. And there are signs that EU inflation is stickier than policymakers would like, which could slow the pace of cuts enough for America to catch up.There are already signs of a slight tempering of America's red-hot economy: The household savings rate is at a 16-month low, disposable incomes have made only modest gains, and the amount that people have to pay on credit balances is elevated. The white-hot job market has cooled, and job openings have returned to prepandemic levels. But not every indicator is telling the story of a soft landing. On Friday, <a target="_blank" href="https://www.businessinsider.com/how-unemployment-rate-job-growth-looked-in-may-2024-6">May's jobs report</a> showed that the country created 272,000 jobs — way more than the 182,000 expected. The data seesaw stateside continues. On the other side of the Atlantic, there are signs that UK and EU inflation could be stickier than policymakers had foreseen. <a target="_blank" href="https://markets.businessinsider.com/news/interestrates/eurozone-inflation-rises-ahead-of-ecb-meeting-1033440963">EU inflation ticked up slightly to 2.6% in May</a>, surprising the ECB but not shocking it enough to stop a June rate cut. In the UK, stubborn services inflation, which came in at 5.9% for the month of April, may give the Bank of England reason to pause. Oxford Economics' Basic Vasiljev told me that this indicated that the EU and US were moving more in tandem than this policy lag suggests and the current policy divergence would remain short. Even the Bank of Canada, which cut its benchmark rate to 4.75% from 5% last week, is cautiously optimistic the dislocation will be momentary. "There are limits to how far we can diverge from the United States, but we're not close to those limits," Gov. Tiff Macklem said at the Bank of Canada's latest meeting. Not close… yet.This rosy outlook is not a guarantee: Wall Street still expects three cuts this year from the ECB and the <a target="_blank" href="https://markets.businessinsider.com/news/stocks/european-shares-fall-amid-data-deluge-1033460481">Bank of England</a>. Even in little clips of 0.25%, three cuts would create a divergence traders would exploit. And if September comes and the US is still hot, that exploitation could continue all year long, exacerbating the conditions that are keeping monetary policy out of sync. That sucking sound you'll hear all summer is the sound of Wall Street slurping money from Europe, Canada, the UK, and East Asia into US markets. Policymakers will have to recalibrate. This doesn't mean we won't stick a soft landing — especially if this disordered moment is brief — it just increases the odds of a bumpy ride until we get there.<a target="_blank" rel="" href="https://www.businessinsider.com/author/linette-lopez">Linette Lopez</a> is a senior correspondent at Business Insider.

America's plan to fix its economy is going to screw over the rest of the world

<ul class="summary-list"><li>Tens of thousands of US Jews live in West Bank settlements.</li><li>The October 7 Hamas terrorist attacks on Israel have sparked backlash in the West Bank.</li></ul>"I'm living the American dream in Israel," Judith Segaloff told Business Insider.Segaloff is a US-born settler living in the West Bank, a territory that Israel occupied after the Six-Day War in 1967. She was born into a Jewish family in New Jersey. She was brought up with Zionist values but did not visit Israel until she was in her 40s.She said she finally felt she'd come home when she stepped off the plane on her first trip to Israel."This is where my protoplasm belongs," she said. "It's where I come from."She and her family now live in Karnei Shomron, an Israeli West Bank settlement established in 1977. An Israeli flag is draped over the entryway of their house."We're in the suburbs," Segaloff said, "and it feels like a bedroom community."She said her neighborhood was reminiscent of Westchester, New York, which she once called home."Like Westchester, we have a big house— much bigger than we would have anywhere else in the country," she said. "We have a lot of land, a big backyard, and there's people that speak English all over."A new life in the West Bank does not mean Segaloff has shed her roots."I embrace my American background," she said. "I embrace my Americanism. But at the same time, I'm Israeli all the way."<div type="image" title="Israeli settlers hold a protest march from Tapuach Junction to the Israeli settler outpost of Evyatar, in the Israeli-occupied West Bank, April 10, 2023." height="1417" width="2000" msid="106354465" hostid="261" sizebytes="416770"></div>US-born settlers are "overrepresented" in the West Bank, Sara Yael Hirschhorn, <a target="_blank" href="https://www.linkedin.com/in/sara-yael-hirschhorn-139b1534/">a historian</a> and a political analyst working as a visiting professor at Israel's University of Haifa, said.She told BI there's a higher proportion of residents with American roots in the West Bank settlements than in Israel proper — about 15% versus 1%.While Segaloff presents the life of an American-born Jewish settler as idyllic, beyond the perimeter of Karnei Shomron — "<a target="_blank" href="http://www.geocities.ws/karnayshomron/">a beautiful town in Western Samaria</a>," the town's public-relations blurb says — a nightmare has been unfolding for some Palestinian residents of the West Bank.The October 7 Hamas terrorist attacks on southern Israel have sparked a backlash in the West Bank. Violence against Palestinian communities by <a target="_blank" href="https://www.gov.uk/government/news/joint-statement-on-west-bank-settler-violence">extremist Jewish settlers has surged</a>, who committed more than 343 violent attacks and killed eight Palestinian civilians, prompting a rare international reaction.Recently, Antony Blinken, the US secretary of state, announced that the Biden administration would impose <a target="_blank" href="https://www.theguardian.com/world/2023/dec/05/us-travel-ban-israel-extremist-palestinian-attacks">visa bans on extremist Jewish settlers complicit in violence</a> against Palestinians in the West Bank. The UK government has followed with a similar measure.<a target="_blank" href="https://www.brookings.edu/articles/settler-terrorism-an-american-problem/">Settler violence has been dubbed an "American problem,"</a> considering the significant number of US-born people living in Israeli settlements.The totemic moment of the "American problem" was the <a target="_blank" href="https://www.businessinsider.com/human-factor-dror-moreh-israel-palestine-peace-process-hamas-netanyahu-2021-5">Cave of the Patriarchs massacre that killed 29 Palestinians in 1994 in the West Bank city of Hebron</a>, perpetrated by Baruch Goldstein, a Jewish doctor and settler extremist from Brooklyn, New York.In an <a target="_blank" href="https://www.nytimes.com/2015/09/06/opinion/sunday/israeli-terrorists-born-in-the-usa.html?_r=1">op-ed for The New York Times decrying "Israeli terrorists, born in the USA</a>," Hirschhorn noted that in the aftermath of the Hebron massacre former Israeli President Chaim Herzog called the US "a breeding ground" for Jewish terror.Accusations of settler violence are met with counterclaims of <a target="_blank" href="https://www.jns.org/the-mendacious-campaign-against-settler-violence/">frequent attacks by Palestinians on Jews living beyond the Green Line </a>(the pre-1967 Israeli border), including rocks thrown regularly at cars, ramming attacks, and drive-by shootings.<h2>'Manifest destiny'</h2>According to 2015 research by Hirschhorn for Oxford University, an estimated 60,000 American Jews lived in West Bank settlements.Hirschhorn said that these figures didn't count suburban neighborhoods of Jerusalem over the Green Line and the number could be much higher.<div type="image" title="An aerial view shows the Jewish settlement of Maale Adumim in the Israeli-occupied West Bank, June 25, 2023." height="1333" width="2000" msid="106354467" hostid="261" sizebytes="512668"></div>The attraction to the West Bank is partly associational, Hirschhorn told BI. Once Americans have relatives, friends, or former coworkers who have made aliyah to the West Bank, it seems a logical place for them to settle, too.Segaloff's decision to move to Karnei Shomron was not just due to the quality of life the settlement could offer her but also because she wanted to live near her cousins who were already established there.Hirschhorn, who wrote "City on a Hilltop: American Jews and the Israeli Settler Movement," said that US settlers brought ideas of pioneering and building utopian communities to the West Bank, in line with the <a target="_blank" href="https://www.businessinsider.com/gaps-manifest-destiny-t-shirt-2012-10?r=US&amp;IR=T">"manifest destiny" ideology</a>.Manifest destiny was the 19th-century belief that the US was destined to take over the world and was used to justify the near-eradication of Native American society.Segaloff said she and her husband described their fellow settlers as "plucky," akin to the American settlers who were "pushing out to Oregon and the West when Native Americans were attacking them."The Jewish settlements are evocative of American expansionism, Hirschhorn said, with "Americanized" characteristics: The West Bank communities have familiar bagel shops, huge supermarkets, and all the amenities you would hope to find in an American suburb."They have all the kinds of creature comforts that you can imagine people might want, in America as much as in Israel," Hirschhorn said."You could get a lot for your money out here," Segaloff said. "It's like raising your kids in a small town, and it's a wonderful feeling."<h2>Living in a bubble</h2>Dror Sadot, a spokesperson for <a target="_blank" href="https://www.businessinsider.com/israel-palestine-fathi-asayira-yitzhar-asira-al-qibliya-2012-5">B'Tselem, a Jerusalem nonprofit addressing human-rights violations</a> in the Israeli-occupied Palestinian territories, told BI that all settlements in the <a target="_blank" href="https://www.businessinsider.com/democrat-winning-in-2020-could-end-us-tolerating-israeli-occupation-2019-12">territories were illegal under international law</a> but that Israeli law distinguished between legal and illegal settlements.Sadot said settlers were exploiting Israel's war against Hamas in Gaza to complete their goal of dominating the West Bank, which the Jewish settlers refer to as Judea and Samaria, biblical descriptions.<div type="image" title="Abdelazim Wadi holds up a poster commemorating his brother, Ibrahim Wadi, and his nephew, Ahmed Wadi, who were killed by Israeli settlers during a funeral procession on Oct. 12, in the rural Palestinian village of Qusra, West Bank." height="3744" width="5616" msid="106354636" hostid="261" sizebytes="1764244"></div>Since <a target="_blank" href="https://www.businessinsider.com/israel-declares-state-of-war-hamas-launches-massive-surprise-attack-2023-10">Hamas attacked Israel on October 7</a>, settler <a target="_blank" href="https://www.businessinsider.com/settler-violence-against-palestinians-west-bank-rights-group-2023-11">violence against Palestinians in the West Bank has soared, </a>according to<a target="_blank" href="https://www.businessinsider.com/settler-violence-against-palestinians-west-bank-rights-group-2023-11"> </a>B'Tselem. Israeli forces and settlers have also been <a target="_blank" href="https://www.ochaopt.org/content/other-mass-displacement-while-eyes-are-gaza-settlers-advance-west-bank-herders">forcing Palestinians out of their West Bank homes,</a> reported the United Nations Office for the Coordination of Humanitarian Affairs.Segaloff said that despite the increased violence in the West Bank, her family's suburbanlike utopia was intact."We haven't had any sirens here, thank God," she said. "We're living in, like, a bubble."Naomi Kahn, a Jewish woman and the director of the International Division at Regavim — a pro-settler think tank and lobbying group — works on the <a target="_blank" href="https://www.businessinsider.com/trump-upends-us-policy-israel-shattering-hope-middle-east-peace-2019-11">legality of the settlements under Israeli jurisdiction</a>.Kahn was born, raised, and educated in the US. She studied at New York University and moved to Israel in 1984. She said she made aliyah because "this is where we belong, as the only place we've ever belonged and the only place that's belonged to us."So that's why I'm here," she added. "I want to be part of Jewish history and not a bystander watching it misreported in American media."Kahn told BI that Regavim had "dialogue with anyone who will have dialogue with us." She added: "In general, the Palestinians in the region, in Area C, do not have dialogue with us. They have their own agenda, which is anathema to Israel's national interest."<a target="_blank" class="editor-rtfLink" href="https://www.btselem.org/topic/area_c">Area C covers 60% of the West Bank</a> and comprises 125 settlements, with about 325,500 settlers, according to B'Tselem. The area has about 180,000 to 300,000 Palestinian inhabitants.Kahn disagreed with the term "settlements," saying: "There were never preexisting Arab settlements or communities of any kind on the land on which any of the Jewish communities of Judea and Samaria are built."Nearly 1,000 Palestinians have been displaced from their homes in the West Bank amid intensified settler violence and increased movement restrictions since October 7, a November <a target="_blank" rel=" nofollow" href="https://www.ochaopt.org/content/other-mass-displacement-while-eyes-are-gaza-settlers-advance-west-bank-herders">assessment</a> from the UN Office for the Coordination of Humanitarian Affairs said.D'vora Brand, originally from Brooklyn, is a real-estate agent in the West Bank. She told BI that she had never sold a house that was forcibly taken from Palestinians.Segaloff said of her home: "No Palestinian has ever lived in this house."<h2>'This is the biblical heartland of Israel'</h2>Sharon Rosenbluth, whose father was a Holocaust survivor, was born in a small Illinois town before relocating to Maryland."From the time I can remember, Israel was always the forefront," she said. Her parents were "extremely Zionistic," she added.During her childhood, she and her family spent a year in Israel while her father taught at a university. They lived there during the <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/yom-kippur-war-photos-october-1973-50th-anniversary-2023-10?r=US&amp;IR=T">1973 Yom Kippur War</a>, in which an Arab coalition led by Egypt and Syria attacked Israel."I was 5 years old," she said. "I remember going to school being escorted by soldiers."Rosenbluth is a fellow resident of Segaloff's in Karnei Shomron. The community's website says the settlement includes "a 'North American' neighborhood, Neve Aliza," one of the largest concentrations of <a target="_blank" class="editor-rtfLink" href="http://www.ginaplus.org/kshomron.htm">North American immigrants in Israel</a>."We're not settlers because it's not possible," Rosenbluth said. "It's our own land. So we call ourselves citizens of the State of Israel because we firmly believe that this is the biblical heartland of Israel and that it belongs to us."<h2>'Trump got us'</h2>Hirschhorn said the West Bank settlements were "often considered to be a right-wing project" and recalled how the <a target="_blank" href="https://www.businessinsider.com/trump-israel-campaign-office-2016-9?r=US&amp;IR=T">Trump campaign set up an ad hoc office in</a> Karnei Shomron before the 2016 election.President Donald Trump <a target="_blank" href="https://www.businessinsider.com/trump-jerusalem-embassy-israel-capital-2017-12">recognized Jerusalem as Israel's capital and ordered the US Embassy</a> to relocate there, in a move that validated American Israelis in the region.<a target="_blank" href="https://www.businessinsider.com/some-israeli-conservatives-said-trump-just-like-one-of-us-2022-11?r=US&amp;IR=T">"Trump got us," Segaloff told BI's Joshua Zitser last year</a>. "He understood us in a way that no other president ever did. He understands the Middle East mentality, the trading mentality, the negotiating mentality."The settlers reject the idea that land can be traded for peace with the Palestinians."This is not an occupation," Kahn said. "And what we're up against is not something that <a target="_blank" href="https://www.businessinsider.com/israels-plan-blocks-two-state-solution-2012-12?r=US&amp;IR=T">can be solved by territorial compromise</a>.""I'll stay here no matter what," Segaloff said. "Pushing for a two-state solution is ridiculous because we can't live with people who want us dead."

The Jewish settlers 'living the American dream' in the West Bank

Veteran analysts say the world's biggest private-equity firm could be in big trouble

<ul><li>On 11 October, the <keyword id="6354424" type="COMPANY" weightage="20" keywordseo="world-bank">World Bank</keyword> released its first ever <keyword id="318873" type="ORGANIZATION" weightage="20" keywordseo="Human-Capital">Human Capital</keyword> Index (HCI), which measures how well countries enable the development of their human resources. </li><li>Singapore topped the list while <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> came in at 115th, below Bangladesh, Nepal, Sri Lanka and Myanmar. </li><li>India’s Ministry of the Finance criticised the report, saying that its metrics were simplistic and that it hadn’t taken a number of government programmes into consideration. </li></ul>On 11 October, the World Bank released its first ever <a href="http://www.worldbank.org/en/publication/human-capital">Human Capital Index</a> (HCI), which measures how well countries enable the development of their human resources and how much they stand to lose in terms of GDP by foregoing investment in <keyword id="6354750" type="UNKNOWN" weightage="20" keywordseo="health">health</keyword> and <keyword id="6355445" type="UNKNOWN" weightage="20" keywordseo="education">education</keyword>. The goal of the report is to get finance ministers to think beyond short-term election cycles and focus more on children by allocating higher funds to healthcare and skill development. The World Bank hopes the index will become as popular as its Ease of Doing Business index. The HCI report assessed 157 countries on a number of indicators, ranging from child mortality, nutrition and stunting, average years of schooling and harmonised test scores. Each country was assigned a score from 0 to 1, with 1 denoting the best health and education outcomes possible. The list was led by Asian countries. Singapore came first, owing to the strength of its universal healthcare system, followed by South Korea, Japan and Hong Kong. Finland came fifth while the US came 24th. The bottom of the list was predominantly rounded out by African countries - Chad, South Sudan and Niger. Critics of the report said that it was an exercise in <a href="https://www.wsj.com/articles/world-bank-aims-to-shame-with-human-capital-ranking-1539267790">shaming developing countries</a> for not investing enough in people. India came in at a lowly 115th, even below the likes of its smaller neighbours Myanmar, Bangladesh, Sri Lanka and Nepal. The report predicted that children in India would only be <a href="http://databank.worldbank.org/data/download/hci/HCI_2pager_IND.pdf">44%</a> as productive in adulthood compared to a scenario where all their education and health requirements were met. As expected, the Indian government wasn’t happy with the results of the report. In <a href="http://www.pib.nic.in/PressReleseDetail.aspx?PRID=1549460">a press release</a>, the Ministry of Finance said that it had “serious reservations” about the way the index had been compiled. The finance ministry explained that the World Bank had failed to take into account the government’s various development initiatives like the Samagra Shiksha Abhiyan, which focuses on all 13 years of schooling and merges three separate public education schemes, and the recently-launched Ayushman Bharat health insurance programme. It also said that schemes like the Aadhar programme, the largest biometric identification scheme in the world, and the Pradhan Mantri Jan Dhan Yojana, which aims to give every unbanked citizen a formal bank account, had gone a long in way in enabling financial inclusion and social protection. The government also said that metrics of the HCI were “simplistic” and “ignorant of development realities” and that the data used to gauge the quality of education was outdated. The statement concluded on a defiant note with the government saying that it planned to ignore the index.

India has “serious reservations” about the World Bank’s new Human Capital Index, which ranked it 115 out of 157 countries

The <keyword id="6355302" type="General" weightage="100" keywordseo="rupee" source="Orion">rupee</keyword> gained 18 paise to close at 81.56 (provisional) against the <keyword id="6368584" type="General" weightage="80" keywordseo="us-dollar" source="Orion">US dollar</keyword> on Wednesday, driven by foreign inflows from bonds selling and overall weakness in crude oil prices. However, a muted trend in domestic equities dented investor sentiments and capped the sharp gains in the rupee, traders said. At the interbank foreign exchange market, the local unit opened at 81.73 and touched an intra-day high of 81.52 and a low of 81.82 against the greenback. It finally ended at 81.56 (provisional), registering a rise of 18 paise over its previous close. On Tuesday, the rupee settled at 81.74 against the US dollar. "<keyword id="91748" type="General" weightage="50" keywordseo="indian-rupee" source="Orion">Indian Rupee</keyword> appreciated on Wednesday extending gains of the previous day on foreign inflows from bonds selling...and overall weakness in crude oil prices," said Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas. However, FII outflows and recovery in US Dollar capped sharp gains. Choudhary further noted that the dollar gained as traders are adjusting their positions ahead of US CPI inflation data. The dollar also gained on safe-haven appeal as the <keyword id="6354424" type="General" weightage="50" keywordseo="world-bank" source="Orion">World Bank</keyword> trimmed the 2023 global GDP forecast to 1.7 per cent citing the Russia-Ukraine conflict, inflation and higher interest rates as the main reasons. "We expect the Rupee to trade with a positive bias amid risk-on sentiments and weak crude oil prices. However, sustained outflows by foreign investors may cap sharp gains. Investors may remain cautious ahead of inflation data from the US and India on Thursday. USD/INR spot price is expected to trade in a range of Rs 81 to Rs 82," Choudhary said. The dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.06 per cent to 103.30. Global oil benchmark Brent crude futures rose 0.42 per cent to <keyword id="54123" type="General" weightage="50" keywordseo="usd" source="Orion">USD</keyword> 80.44 per barrel. On the domestic equity market front, the 30-share BSE Sensex declined 9.98 points or 0.02 per cent to end at 60,105.50, while the broader NSE Nifty fell 18.45 points or 0.1 per cent to 17,895.70. Foreign Institutional Investors (FIIs) were net sellers in the capital market on Tuesday as they offloaded shares worth Rs 2,109.34 crore, according to exchange data. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/world-bank-sees-india-growth-slowing-to-6-6-next-fiscal/articleshow/96906506.cms">World Bank sees India growth slowing to 6.6% next fiscal</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/enkash-gets-rbis-in-principle-nod-to-operate-as-payment-aggregator/articleshow/96910271.cms">EnKash gets RBI's in-principle nod to operate as payment aggregator</a>

Rupee gains 18 paise to close at 81.56 against US dollar

<ul><li>This year will likely be remembered for marking its emergence as the world's most populous nation.</li><li>By 2050, the UN expects <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> will have 1.6 billion residents and China 1.3 billion.</li><li>A growing working-age population is an important source of economic growth, so India's emergence will give it new power in international politics.</li></ul> If any major middle-income country is truly outperforming in the coming decades, it's the world's soon-to-be third largest economy (and its largest democracy), India, Eurasia Group said in a report. "In my view, 2023 will be remembered for India's emergence as the third pole of the world," wrote <keyword id="15992875" type="General" weightage="50" keywordseo="shigesaburo-okumura" source="Orion">Shigesaburo Okumura</keyword>, Editor-in-Chief of Nikkei Asia, in a recent article. Another important factor not to be neglected is India. This year will likely be remembered for marking its emergence as the world's most populous nation, Okumara wrote. According to the UN, China's population last year was 1.426 billion while India's was 1.417 billion. In July, the UN forecast that China's population would fall in 2023 while India's would surpass it. By 2050, the UN expects India will have 1.6 billion residents and China 1.3 billion. A growing working-age population is an important source of economic growth, so India's emergence will give it new power in international politics, Okumara said. Moreover, decoupling between the US and China and the rebuilding of technology supply chains to exclude China benefits India. <keyword id="6354427" type="General" weightage="50" keywordseo="apple" source="Orion">Apple</keyword> is building iPhone 14s in India. <keyword id="292865" type="General" weightage="50" keywordseo="natarajan-chandrasekaran" source="Orion">Natarajan Chandrasekaran</keyword>, chairman of <keyword id="46894" type="General" weightage="50" keywordseo="tata-sons" source="Orion">Tata Sons</keyword>, has talked of plans to produce semiconductors in the subcontinent. In March, India will host the plenary session of the <keyword id="833063" type="General" weightage="50" keywordseo="trilateral-commission" source="Orion">Trilateral Commission</keyword> for the first time. This year, it is also chairing the Group of 20, a role that will involve a leaders' summit and many ministerial meetings. The Modi government will be eager to show leadership ahead of India's own elections in 2024, Okumara wrote. "The new year thus could mark the beginning of a tripolar world, involving the US, China and India. New Delhi is undeniably on the rise," Okumara concluded. <keyword id="47256" type="General" weightage="50" keywordseo="challenges" source="Orion">Challenges</keyword>, however, are mounting for India's economy with the GDP forecast at a half-century low. Motilal Oswal Financial Services forecast in a note that after growing strongly for two consecutive years, India's real GDP growth would decelerate to 5.2 per cent YoY in FY24, while nominal GDP growth would weaken even sharply to 7-7.5 per cent, led by easing inflation. A combination of factors such as slower global economy, fading pent-up demand and normalising base effects would contribute to slower real growth. With an expected retail inflation print at just 4.3 per cent and a mere 1 per cent growth in the wholesale price index (<keyword id="46000" type="General" weightage="50" keywordseo="wpi" source="Orion">WPI</keyword>) in FY24, the GDP deflator could be around 2 per cent, dragging down India's nominal GDP growth to the lowest level compared to any year between the early 1970s and FY19 (that is, half-a-century pre-Covid period), the report said. Such slow growth rate would have some serious implications for the macro economy and financial markets. "Overall, we believe that unlike the past 12-15 months, the narrative will reverse in FY24. Inflation concerns will take a back seat and growth worries will resurface. This may be true not only for India, but also for the entire global economy. At the same time, restrictive monetary policy will fail to boost financial markets. Accordingly, CY23 could be very painful," the report said. Revenue of listed companies is highly correlated with nominal GDP growth (and WPI-inflation). In case of single-digit nominal GDP growth, corporate sales growth is also expected to weaken from an average of &gt;30 per cent YoY in the past seven quarters to single digits in FY24. With an expectation of weaker nominal GDP growth in FY24, we estimate India's debt growth to also weaken. Thus, bank credit growth could also moderate from 15-16 per cent in FY23 to 12 per cent in FY24 with a downward bias, the report said. As central banks across the world simultaneously hike interest rates in response to inflation, the world may be edging toward a global recession in 2023 and a string of financial crises in emerging market and developing economies that would do them lasting harm, according to a comprehensive new study by the <keyword id="6354424" type="General" weightage="50" keywordseo="world-bank" source="Orion">World Bank</keyword> in September. Several historical indicators of global recessions are already flashing warnings. The global economy is now in its steepest slowdown following a post-recession recovery since 1970. Global consumer confidence has already suffered a much sharper decline than in the run-up to previous global recessions. The world's three largest economies -- United States, China, and the Euro zone -- have been slowing sharply. The experience of the 1970s, the policy responses to the 1975 global recession, the subsequent period of stagflation, and the global recession of 1982 illustrate the risk of allowing inflation to remain elevated for long while growth is weak. The 1982 global recession coincided with the second-lowest growth rate in developing economies over the past five decades, second only to 2020. It triggered more than 40 debt crises and was followed by a decade of lost growth in many developing economies, the World Bank said. India's current account deficit expectedly swelled to a 37-quarter high of $36.4 billion (4.4 per cent of GDP) in Q2 FY23 from $18.2 billion in Q1 FY23 (2.2 per cent of GDP). The resulting net balance of payments (BoP) position registered a deficit of $30.4 billion (3.7 per cent of GDP), its weakest since the 2008 global financial crisis, compared to a surplus of $4.6 billion in Q1 FY23, Acuite Ratings said. Amid an uncertain geopolitical environment and slowing global growth, however, risks will remain on both current account balance and capital flows, it said. With excessive demand supply disparities, bloated supply chain management and battle against inflation weighing down on global economic growth, the New Year started on a gloomy outlook as IMF predicts global GDP growth topping at 2.7 per cent, narrowly escaping recession, Nuvama Professional Clients Group said in a note. The economy has been supported by sturdy domestic demand as indicated in GST collections and consumer spending. However, the industrial output contracted by 4 per cent YoY in October, the worst in over two years, hobbled by the drop in orders from western markets and weak investment at home, the note said. Standard Chartered said in a report that 2023 global macroeconomic backdrop is likely to be challenging given the heightened risk of a slowdown as lagged effects of monetary policy tightening leads to a weaker demand scenario and lower corporate earnings performance. As the monetary policy rate cycle peaks amid receding inflationary pressures in the second half of the year, risk sentiment could improve with the growth outlook stabilising. "In our assessment," the bank noted, "India's growth-inflation dynamics is stable and better than its peers." The post-pandemic economic recovery cycle remains strong amid supportive government policies and a pick-up in investments. Further, the likely broadening of the rural economy's recovery and of the service sectors is a strong tailwind, the note said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indias-startup-economy-stares-at-deepening-funding-winter-in-2023/articleshow/96807902.cms">India's startup economy stares at deepening funding winter in 2023</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/ar-rahman-unknown-facts-about-about-indian-composer-and-oscar-winner/articleshow/96793884.cms">AR Rahman can leave dinner midway if inspiration strikes &amp; other anecdotes about the reticent music maestro</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/india-mulls-2nd-covid-booster-even-as-coverage-of-first-dose-remains-feeble/articleshow/96792098.cms">India mulls 2nd Covid booster even as coverage of first dose remains feeble</a>

You Searched For "world bank human capital index" and got 12 results

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

Ira Alok Puranik

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

Ira Alok Puranik

World Tourism Day: Here's where India is travelling to, and how you too, can join the bandwagon

Ira Alok Puranik

Nifty Bank index up over 11% so far this year, BoB outperforms index

IANS

India could suffer heatwaves that 'break the human survivability limit,' World Bank says

Mia Jankowicz

The West can't completely isolate Russian banks because it would be disastrous beyond Russia

Huileng Tan

America's plan to fix its economy is going to screw over the rest of the world

Linette Lopez

The Jewish settlers 'living the American dream' in the West Bank

Rebecca Rommen

Veteran analysts say the world's biggest private-equity firm could be in big trouble

Bethany McLean

India has “serious reservations” about the World Bank’s new Human Capital Index, which ranked it 115 out of 157 countries

Dilsher Dhillon

Rupee gains 18 paise to close at 81.56 against US dollar

PTI

India could emerge as the third pole despite GDP growth worries say experts

IANS

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