Gold, Silver ETFs Jump 6-7% as Import Duty Hiked to 15%
Gold and silver ETFs surged 6-7% after the government raised import duty on precious metals to 15% from 6%, while jewellery stocks showed mixed trends. Market experts cite structural frictions.
Category : Banking
Kevin Warsh Confirmed as New Federal Reserve Chair
Kevin Warsh, former Fed governor and Republican adviser, has been confirmed as the next Fed chair in a 54-45 Senate vote, replacing Jerome Powell amid inflation concerns.
Pune Fuel Sales Up 20% on Price Hike Fears, No Rush
Petrol and diesel sales in Pune have increased by about 20% over the past few days as consumers fill tanks fully amid speculation of a fuel price hike, though no panic buying is visible.
Pune Man Dies, Woman Injured in Truck Accident
A 27-year-old man from Wagholi died and his woman friend sustained severe injuries after falling off their motorcycle under a truck near Manchar, Pune.
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Kevin Warsh Confirmed as Next US Federal Reserve Chair
The US Senate confirmed Kevin Warsh as Federal Reserve chair in a 54-45 vote. Warsh, replacing Jerome Powell, faces inflation above target and internal Fed divisions over interest rates.
Rs 30 Lakh Insurance Fraud with Fake Death Cert Busted
An insurance fraud of Rs 30 lakh using forged documents, including a fake death certificate and FIR, was uncovered in Prayagraj. Couple booked.
Indore Sarafa Market Sees Early Slowdown After Gold Duty Hike
Indore's historic Sarafa market faces an unusually early slowdown after PM Modi's appeal and gold import duty hike to 15%, impacting sentiment and manufacturing.
Central Bank Cuts Reserve Price for Wadia Land to Rs 1,525 Cr
Central Bank of India reduces reserve price for 94.7-acre Thane land owned by Wadia Realty from Rs 1,965 crore to Rs 1,525 crore, as lenders accelerate recovery of GoAir dues.
Kochi man loses Rs 1.43 crore in online stock trading scam
A 74-year-old from Elamakkara was cheated of Rs 1.43 crore in an online stock trading scam. Cybercrime police registered a case. Also, a five-year-old boy died in a road accident.
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Delhi HC Dismisses PIL on Agricultural Income Tax
The Delhi High Court dismissed a PIL challenging the blanket exemption of agricultural income from taxation, calling it 'misconceived' and beyond the court's jurisdiction.
Bike-borne robbers loot Rs 27 lakh from CMS van in Patna
Bike-borne miscreants looted Rs 27 lakh from a CMS company's van in Patna's Gopalpur area. Police found security lapses, including no CCTV in the van and failure to inform police.
Nashik Secures Agency for Car Parking After 9 Tenders
After nine months and nine tender rounds, Nashik Municipal Corporation finalizes an agency for a multi-level car parking at Raviwar Karanja. The Rs 30-crore PPP project aims to ease congestion ahead of the 2027 Kumbh Mela.
Why Rising Gold Prices Boost Gold Loan Demand in 2026
Gold prices surge in 2026, fueling a spike in gold loan demand. Borrowers leverage higher valuations for credit, with lenders offering faster disbursals and lower rates.
CBI Files FIR Against Postal Officials for Extortion
The CBI has registered a case against postal officials in Hyderabad for allegedly extorting money and accepting bribes from employees and contractors.
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RBI Eases Outward Remittance Norms for Non-Bank Firms
The RBI has removed the need for non-bank entities to get prior approval for tie-ups with banks for outward remittances, issuing a revised framework that shifts compliance responsibility to AD banks.
Coimbatore Police Register Case for Rs 32 Lakh Gold Cheating
Coimbatore police have registered a case against two men for allegedly cheating a Kerala-based gold merchant of jewellery worth Rs 32 lakh. The suspects took old gold ornaments on the pretext of testing purity but never returned them.
Bihar Police Returns 22 Lost Phones Worth Over Rs 4.16 Lakh
Bihar Police's cyber cell returned 22 lost cellphones worth over Rs 4.16 lakh to owners in Nalanda under Operation Muskan, using technical surveillance and cyber tracking.
Indian Stock Markets Recover After Four-Day Losing Streak
Equity benchmarks ended slightly higher on Wednesday after four consecutive sessions of losses, with buying in metal, energy and FMCG stocks aiding recovery amid volatility.
RBI Cancels Sarvodaya Co-operative Bank Licence
The RBI has cancelled the licence of Sarvodaya Co-operative Bank in Mumbai due to inadequate capital and financial concerns. The bank's operations will cease, and depositors are protected under DICGC.
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Jewellery Stocks Fall 11% on Gold Import Duty Hike to 15%
Shares of jewellery companies dropped up to 11% after the government raised import duty on gold and silver to 15%, impacting margins and consumer demand.
SEBI Eyes Specialized Distributors to Boost Retail Bond Market
SEBI whole-time member Amarjeet Singh said the regulator is exploring specialized distributors to increase retail participation in the bond market, aiming for broader investor access.
Rupee hits fresh all-time low at 95.7450 per dollar
The rupee weakened to a new record low of 95.7450 per dollar on Wednesday, driven by rising oil prices, overseas debt repayments, and importer hedging demand.
RBI Likely to Pay Record Dividend to Govt This Year
The Reserve Bank of India is expected to pay a record dividend to the government this fiscal year, boosting revenue and aiding fiscal consolidation.
Gold price prediction today: Import duty hike sparks rally
Gold and silver prices surged after India raised import duties. Analysts expect domestic prices to align with global trends. Key support and resistance levels for gold and silver.
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Vodafone Idea Stock Surges 5% on Fundraising Plans
Vodafone Idea shares jumped 5% after the board announced plans to raise funds. The telecom firm aims to strengthen its financial position amid market challenges.
Stock Markets Pare Early Gains, Trade Lower
Indian stock markets erased early gains and traded lower on Tuesday, dragged by selling in IT, banking, and auto stocks amid global cues.
Rupee Recovers 16 Paise from All-Time Low to 95.52
The Indian rupee recovered 16 paise from its all-time low, trading at 95.52 against the US dollar in early trade on Monday, supported by positive domestic equities and a weak greenback.
Gold Silver Prices May 13: City-Wise Rates
Gold and silver prices today in major Indian cities. Check MCX rates, import duty impact, and city-wise gold price in Kolkata, Delhi, Chennai, Mumbai.
RBI Cancels Licence of Sarvodaya Co-operative Bank
The RBI cancelled the licence of Mumbai-based Sarvodaya Co-operative Bank due to financial irregularities, affecting depositors. The bank's operations ceased immediately.
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RBI Cancels Sarvodaya Cooperative Bank Licence
The Reserve Bank of India has cancelled the licence of Sarvodaya Cooperative Bank, affecting customers who will receive insured deposits up to Rs 5 lakh under DICGC.
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