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Clues by NC Team • 18 Jan 2019, Friday

Total liabilities of the government has increased by 49% to Rs 82 lakh crore during the last four-and-half years. Data as per Finance ministry shows that the debt of central government stood at Rs 82,03,253 crore at the end of September 2018 as compared to Rs 54,90,763 crore till June 2014. The increase in overall debt has been driven by a 51.7% growth in public debt from Rs 48 lakh crore till June 2014 to Rs 73 lakh crore as at September 2018. Gold bond borrowings stood at Rs 9,089 lakh crore as compared to Nil during the same period.

Read More at The Economic Times
Clues by NC Team • 17 Jan 2019, Thursday

Foreign portfolio investors (FPIs) are increasing their equity holdings in gold loan companies for the second consecutive quarter amid expectations of healthy growth going forward. FPIs have raised their stakes in Muthoot Finance and Manappuram Finance. In Manappuram Finance, FPIs bought an additional 1.26% stake to hold 39.44% during the October-December quarter, while in Muthoot Finance FPIs bought an additional 0.82% stake to hold 11% in Q3 from 10.18% in the preceding quarter. 

Read More at Business Standard
Clues by NC Team • 16 Jan 2019, Wednesday

Gold, which offers no interest rate, tends to gain on expectations of lower interest rates. Lower interest rates reduce the opportunity cost of holding Gold. Also investors in order to protect themselves against the uncertain conclusion of Brexit decision, turn to gold as a safe investment. Thus Gold prices stacked up on Wednesday on expectations of a pause in U.S. interest rate hikes and as the lawmakers voted down British Prime Minister Theresa May’s Brexit deal to leave the European Union.

Read More at The Financial Express
Clues by NC Team • 10 Jan 2019, Thursday

The Reserve Bank of India (RBI) has notified amendments to the Gold Monetisation Scheme (GMS), 2015[1] with respect to the eligibility criteria of making deposits. “Persons eligible to make a deposit – Resident Indians [Individuals, HUFs, Proprietorship & Partnership firms, Trusts including Mutual Funds/ETFs registered under SEBI, Companies, charitable institutions, Central Government, State Government or any other entity owned by Central Government or State Government] can make deposits under the scheme,” RBI said in the notification. 

Read More at The Economic Times
Clues by NC Team • 8 Jan 2019, Tuesday

Chairman of Gem and Jewellery Domestic Council (GJC), Ananth Padmanabhan said that demonetisation and GST arrested growth in the gold jewellery industry in the last two years. India is the second largest importer of gold yet the sector growth has remained sluggish, he said. He also said that younger generation’s preference for automobiles and travelling has also caused a slowdown in the business. 

Read More at The Financial Express
Clues by NC Team • 5 Jan 2019, Saturday

Restaurant discovery and food delivery company Zomato claimed to have achieved a 28 million monthly order run rate in December, a significant jump of over 33% from the 21 million run rate for October. Order run rate is not the absolute order volume but helps project future volume for the entire month based on one week's volume in the month. While Zomato declined to share its absolute numbers, its rival Swiggy continues to post 28 million monthly orders in absolute terms, sources said. Zomato’s dine-in subscription service, Gold, has currently 7 lakh members and more than 6,000 restaurant partners.

Read More at The Economic Times

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