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Retail prices touched 1,03,000 for 10 gm of gold with a 3% goods and services tax (GST), an occurrence which does not augur well for sales on Akshaya Tritiya, an annual Hindu and Jain spring festival when it is considered auspicious to buy gold. Akshaya Tritiya falls on April 30 this year.
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Investors can sell sovereign gold bonds on stock exchanges or prematurely redeem them in the repurchase facility offered by the government once every six months, after the end of the fifth year. After the eighth year, bonds are redeemed, and the accumulated capital is given back to investors.
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The Reserve Bank of India's revised liquidity coverage ratio norms are projected to unlock 2.7-3 lakh crore for banks, boosting lending capacity. This move aims to balance liquidity and profitability, mitigating risks from online withdrawals with a reduced run-off factor. Experts believe banks may adjust deposit strategies, favoring short-term deposits, while the framework supports credit growth potential.
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