RBI Set Final Redemption Price For Sovereign Gold Bond 2017-18 Series II At Rs 9,924 Per Gram
The original issue price for the bond in 2017 was Rs 2,830 per gram, with online investors receiving a discount of Rs 50. (Image: File Pic)
Sovereign Gold Bonds are government securities denominated in grams of gold and act as a substitute for physical gold. (Image: File Pic)
Sovereign Gold Bonds are issued by the RBI on behalf of the Government of India. (Image: File Pic)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
23 minutes ago
- Indian Express
IMF upgrades India's FY26 GDP growth forecast to 6.4% as trade tensions ease
The International Monetary Fund (IMF) on Tuesday raised its Gross Domestic Product (GDP) growth forecast for India to 6.4 per cent for both 2025-26 and 2026-27 on account of easing global trade tensions, with the world economy also seen expanding at a slightly faster pace than what the multilateral organisation had predicted in April. 'In India, growth is projected to be 6.4 per cent in 2025 and 2026, with both numbers revised slightly upward, reflecting a more benign external environment than assumed in the April reference forecast,' the IMF said in an update to its World Economic Outlook report, referring to India's fiscal years that begin in 2025 and 2026. According to non-partisan policy research center The Budget Lab at Yale, US consumers faced an overall average effective tariff rate of 18.2 per cent as on July 28, down from 28 per cent on April 9. India's GDP is estimated to have increased by 6.5 per cent in 2024-25, the lowest growth rate in four years. The Reserve Bank of India (RBI), meanwhile, expects the GDP to grow by another 6.5 per cent in the current fiscal, with the Indian finance ministry estimating it in the range of 6.3-6.8 per cent. For 2026-27, the RBI on April 9 had forecast a growth rate of 6.7 per cent. Back in April, the IMF had cut its growth forecasts for India by 30 basis points (bps) to 6.2 per cent for 2025-26 and by 20 bps to 6.3 per cent for 2026-27 due to 'higher levels of trade tensions and global uncertainty'. Since then, the tariff war waged by the US has eased somewhat, with IMF Chief Economist Pierre-Olivier Gourinchas calling the Trump administration's April actions an 'unprecedented escalation'. Moreover, global financial conditions have eased and the US dollar has weakened around 8 per cent since January, allowing the IMF to now project that the global GDP will grow 3 per cent in 2025 and 3.1 per cent in 2026, up from 2.8 per cent and 3 per cent, respectively, predicted in April. However, the IMF continued to warn that while the 'modest decline in trade tensions' had contributed to the resilience of the global economy, tariffs remain 'historically high' and global policy remains highly uncertain, with risks to the world 'firmly to the downside'. '…compared to our pre-April 2 forecast, global growth is revised downwards by 0.2pp (0.2 percentage points) this year. At around 3 per cent, global growth remains disappointingly below pre-COVID average. And we continue to project a persistent decline in global trade as a share of output despite the recent frontloading, from 57 per cent in 2024 to 53 per cent in 2030,' Gourinchas said. One percentage point is equal to 100 basis points. The other countries expected by the IMF to grow at a faster pace now in both 2025 and 2026 include the US, Canada, China, Brazil, Saudi Arabia, and Nigeria. China, in fact, received the largest growth forecast upgrade by the IMF, with its GDP now seen expanding 4.8 per cent in 2025, up from 4 per cent predicted in April. 'This revision reflects stronger-than-expected activity in the first half of 2025 and the significant reduction in US–China tariffs. The GDP outturn in the first quarter of 2025 alone implies a mechanical upgrade to the growth rate for the year of 0.6 percentage point. A recovery in inventory accumulation is expected to partly offset payback from front-loading in the second half of 2025. Growth in 2026 is also revised upward by 0.2 percentage point to 4.2 per cent, again reflecting the lower effective tariff rates,' the IMF said. China's GDP grew 5.4 per cent and 5.2 per cent in the first two quarters of 2025, beating forecasts, and keeping the world's second largest economy on track to meet the government's full-year growth target of 5 per cent. Siddharth Upasani is a Deputy Associate Editor with The Indian Express. He reports primarily on data and the economy, looking for trends and changes in the former which paint a picture of the latter. Before The Indian Express, he worked at Moneycontrol and financial newswire Informist (previously called Cogencis). Outside of work, sports, fantasy football, and graphic novels keep him busy. ... Read More
Time of India
23 minutes ago
- Time of India
UPI payment without PIN: Is NPCI considering face recognition and biometrics for authorising transactions?
Academy Empower your mind, elevate your skills How will UPI payments change via biometrics? Will you soon be able to approve all UPI transactions just by using your face ID and biometrics, without having to input your PIN every time? There are reports that NPCI (National Payment Corporation of India) is considering enabling UPI payments by way of face ID or biometrics, rendering PIN optional for authenticating UPI Wealth Online approached NPCI for comments; however, they refused to comment on this. They are neither confirming nor denying the development. However, as Akash Sinha, CEO and Founder of Cashfree Payments, explains, biometric-enabled UPI is the next big leap in India's digital payments evolution.'By removing the dependency on manual PIN entry, it paves the way for faster, more frictionless transactions, dramatically improving conversions in high-speed checkout environments. Just as importantly, it strengthens the compliance backbone of our payment infrastructure, ensuring that every transaction is uniquely tied to the individual, not just the device. This is where the future of payments is headed: a seamless blend of intelligence, identity, and trust,' he further present, you have to put in your UPI-PIN, or UPI Personal Identification Number, which is a 4-6 digit passcode, every time you have to authorise any bank implemented, you could soon be able to authorise your UPI transactions using your biometric information, such as fingerprint, eye iris scan, and other distinct physical highlight that this will be a major step in bringing down UPI-related financial frauds. This is because bodily traits are extremely difficult to be stolen, unlike UPI pins, which can be obtained by fraudsters via various Rohit Mahajan, Founder and Managing Partner of plutos ONE, "By removing any need to remember a PIN, not only does this redefine convenience, but it also includes millions of individuals, especially the elderly and those from rural backgrounds, who have less digital literacy, into a space of safe, tech-enabled transactions. Biometrics improve security and reduce fraud by tying access to the individual. For that vast population of users, this then makes transacting digitally virtually frictionless, particularly with those who have difficulty recalling a password or navigating a complex as Mahajan adds, to ensure that this change is effectively deployed, there needs to be serious consideration around the user experience with strong safeguards around data privacy, consent, and infrastructure to the RBI's Payment System Indicators report for June 2025, UPI transaction volume swelled to 18.39 billion, with their total value coming to Rs 24.03 lakh crore. As UPI is steadily gaining a higher market share of payment transactions, this added layer of security is likely to enhance the overall safety of UPI transactions.
Time of India
36 minutes ago
- Time of India
Himachal deputy CM launches digital systems to modernise HRTC operations
Shimla: Himachal Pradesh deputy chief minister Mukesh Agnihotri on Tuesday launched four new information technology-based systems developed by Himachal Road Transport Corporation (HRTC) in collaboration with the department of digital technologies and governance. These include an online travel pass system enabling school and college students, govt employees, and traders to apply online for concessional passes, pay fees digitally, and receive radio frequency identification (RFID)-based smart cards. A digital bus inspection scheduling system was also introduced to improve monitoring of staff performance and ensure timely checks, with schedules now being transmitted via mobile SMS. A global positioning system (GPS)-based bus tracking system was initiated for 82 buses in Shimla, which would later be extended to the entire fleet of HRTC buses to ensure better real-time monitoring. A new platform, 'Him Access HRTC system' was also launched, allowing over 9,000 employees to access their personal and salary details online. Agnihotri said that to strengthen infrastructure, it was decided that Rs 7 crore would be spent on the repair and maintenance of various bus stands across the state, along with the installation of CCTV cameras at all bus terminals for public safety. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Switch to UnionBank Rewards Card UnionBank Credit Card Apply Now Undo A modern bus stand facility would also be constructed at Mandi Bharari in Bilaspur district to cater to increasing commuter traffic. Directions were also issued to speed up the process of setting up e-charging stations at workshops and bus stands to support the arrival of electric buses in the state fleet. Approval was also given for the launch of a new scheme, 'Him Bus Plus', which integrates identity management with cashless payments. Under this scheme, commuters would receive a 5% discount on fares for all HRTC buses, including Volvo services, he added. A loyalty programme would also provide cashback benefits based on monthly travel. To attract more passengers, the fare of super luxury buses would be reduced by 15%, allowing cardholders to avail up to a 20% discount along with loyalty rewards. Agnihotri stated that to attract more tourists and increase revenue, 'Tourist Day Circuits' would be introduced, connecting major religious and tourist spots around Shimla. Approval was also given to new revenue measures such as implementing an advertisement policy on HRTC tickets, website, and app, and piloting the operation of retail fuel outlets at two to three locations using HRTC's own fuel pumps. A dhaba policy would also be put in place to empanel eateries along bus routes with a focus on hygiene and commuter convenience, he added. MSID:: 122976227 413 |
