Sunday, October 18
Mumbai: The Reserve Bank of India's (RBI) central board of directors is likely to meet on May 23 for an annual review of the central bank's balance sheet and transfer of FY25 surplus funds to the government. The payout could be as high as Rs 3 lakh crore, exceeding last year's dividend by nearly 50%."We estimate an RBI dividend of Rs 2.6 lakh to Rs 3 lakh crore, depending on the level of provisioning," said Gaura Sen Gupta, chief economist at IDFC First Bank.The RBI board also met on May 15 to review the Economic Capital Framework (ECF). A crucial factor in determining the surplus or the dividend is the ECF, adopted by the RBI in 2019. The relevant committee had recommended risk provisioning under the Contingent Risk Buffer (CRB) be maintained within a range of 6.5-5.5% of the RBI's balanc
Myntra and Reliance-owned Ajio have stopped selling Turkish apparel brands on their portals amid growing boycott calls since Turkey backed Pakistan during the recent military conflict between India and Pakistan. Myntra has temporarily halted sales of all Turkish brands including Trendyol, owned by internet giant Alibaba, for which it has an exclusive right to market in India, according to two industry executives privy to the development. Reliance, too, has suspended all of its Turkish apparel brands portfolio such as Koton, LC Waikiki and Mavi sold on its online platform Ajio, with all their products showing out of stock. "The visibility of Turkish brands was proactively restricted on Myntra when the tensions started to escalate last weekend and was later suspended completely on Thursday,"
Gold prices have been under significant pressure lately, falling by nearly 7% from their peak price of Rs 99,358/10 grams made on April 22 on the MCX. The yellow metal now threatens to close below the 50-day moving average for the first time since December.Domestic brokerage firm Axis Securities noted that gold prices are showing signs of stress amidst key macro shifts, with concerns mounting over a potential break below a critical support band that could trigger further downside.The brokerage firm highlighted that the expectations of further rate cuts by the US Federal Reserve have cooled, impacting the demand for safe-haven assets like gold. Furthermore, trade-war-related growth fears have eased, leading to a rise in bond yields, which is further undermining gold’s appeal.With gold off
