Sovereign Gold Bonds (SGB), one of the popular gold investment tool, were debt securities issued by the Reserve Bank of India (RBI) on behalf of the government, with each unit representing a gram of gold. These bonds can be traded in the secondary market, allowing investors to potentially gain capital. Additionally, the government utilises SGBs … Read more
Sovereign Gold Bonds (SGBs): The Reserve Bank of India has announced the dates for premature redemption of Sovereign Gold Bonds issued between May 2017 and May 2020. The central bank is planning to redeem 30 SGBs from October 11 and February 7, 2025. The redemption price will be announced by the Reserve Bank of India … Read more
India’s gold imports, which has a bearing on the country’s current account deficit (CAD), more than doubled to USD 38 billion during April-December this fiscal on account of higher demand, according to data of the commerce ministry. The imports stood at USD 16.78 billion in April-December 2020. In December 2021, imports of the precious metal … Read more
The government on Wednesday permitted qualified jewellers to import certain kinds of gold including certain unwrought forms through India International Bullion Exchange IFSC Ltd. The changes were notified by the Directorate General of Foreign Trade (DGFT) in its amendment in the gold import policy. “In addition to nominated agencies notified by RBI (in case of … Read more
Led by engineering goods, petroleum products and gems and jewellery, India’s merchandise exports increased for the eleventh consecutive month in October and grew 42.33% on year at $35.47 billion. Official data released on Monday showed a 62.48% rise in imports leaving a trade deficit of $19.9 billion compared to $9.15 billion and the 14-year high … Read more