Global research firm Goldman Sachs has given a BUY call on ICICI Bank stock and has raised the target to Rs 492 per share. The brokerage feels that the lender’s strong deposit franchise and lower cost of funds will put the company at an advantage. Goldman Sachs expects ICICI Bank to deliver Return on Assets (ROAs) of 1.8% and Return on Equity (ROEs) of 17% for FY20-21.
India's gold smugglers have slowed their operations over worries their shipments will be caught up in seizures of cash, bullion, and booze. In India, political parties and their supporters often offer money or goods in exchange for votes. The Election Commission, which monitors the polls, tries to prevent this by setting up highway checkpoints to seize cash, gold, liquor and other high-value items that candidates avoid mentioning in their expenses due to a cap on the amount they can spend.
80 million customers have opened digital gold accounts as on March 2019, which is more than double the number of demat accounts in the country. The first digital gold account was launched in 2012-13. Two depositories, NSDL, and CDSL together managed 35 million demat accounts at the end of 2018 and are estimated to cross 40 million by the end of 2019. Paytm, Motilal Oswal, PhonePe, and Google Pay are also offering digital gold account services.