Total gold loans sanctioned by non-banking financial companies (NBFCs) increased 26% year-on-year to ₹79,218 crore in the first quarter of the current fiscal even as sanctions for personal loans fell by 4%, indicating the impact of higher risk weights for unsecured loans by the Reserve Bank of India.
Posts in category Economic Times
Mankind may end up spinning out a winner in consumer brands unit (03-10-2024)
The company entered the OTC business in 2007 and it has grown to have established brands such as Manforce, HealthOK, Prega News, AcneStar, Unwanted and Gas-O-Fast. Four of its brands ranked No.1 in their respective categories.
Pre-market action: Here’s the trade setup for today’s session (03-10-2024)
” In the near term, we expect the market to consolidate after witnessing one side move in the last few weeks. Sector-wise the focus could shift towards IT & Banking space as companies would be releasing their pre-quarterly updates starting this week,” said Ajit Mishra – SVP, Research, Religare Broking
Stocks in news: Angel One, Maruti Suzuki, Dabur, Marico, Aurobindo Pharma, ITC (03-10-2024)
Maruti Suzuki reported a nearly 2% jump in September total sales at 1,84,727 units versus 1,81,343 units in the corresponding month of the previous financial year.
Non-ferrous metals poised to outshine gold, signals show (03-10-2024)
While gold has seen an impressive 43% return in the past year, signs from the US and other parts of the world suggest a shift to non-ferrous metals. With US
MPC may go for a cut in December if inflation concerns recede (03-10-2024)
Out of 12 economists ET spoke to, 9 said that it was likely that the MPC would begin to cut interest rates from December onwards. The remaining three respondents were broadly of the view that the MPC is likely to follow a course that is distinct from rate-setters in advanced economies and may wait for 4-6 months more before cutting rates to be entirely sure that inflation has gone down durably.
Trade volumes in decline, likely to fall further with Sebi’s curbs (03-10-2024)
The average daily trading volume (ADTV) in the equity segment of both BSE and NSE combined dropped 21% in September to ₹1.30 lakh crore, compared to June’s turnover of ₹1.65 lakh crore per day. Between July and September, the benchmark Nifty, Nifty Midcap 150 and Nifty Smallcap 150 rallied between 7% and 7.5%.
Gold makes a new high of Rs 78,300 on safe-haven, festive demand (03-10-2024)
Kumar Jain, spokesperson of the India Bullion & Jewellers Association (IBJA) said, “Zaveri Bazaar is buzzing with activity as there is a surge in gold prices. The footfalls have increased by up to 20% on Wednesday compared to a week ago.”
Iran-Israel clash may spill over to Dalal Street (02-10-2024)
Indian markets were closed on Wednesday. Elsewhere in Asia, South Korea declined 1.2% and Japan declined 2.2%. Taiwan rose 0.75% and Hong Kong jumped 6.2%, maintaining its newfound bullish momentum, driven by China’s stimulus package to revive its economy.
A formalised economy transmits policy rates better: Study (02-10-2024)
Research by the RBI reveals that monetary policy transmission is more effective with increased formality in the labour market. A higher share of formal sector employment enhances the impact of policy measures on inflation and output, suggesting better outcomes under inflation targeting.