Cash deals offer Indians up to 6% discount on gold amid informal market revival

·3 views

Indian gold buyers are obtaining discounts of around Rs 5,000 per 10 grams by paying cash in off-the-record transactions. For bulk purchases, these informal deals can bring prices down by as much as 6% below prevailing market rates. Dealers accepting cash are able to sidestep certain taxes and pass a portion of those savings on to buyers. The resurgence of this grey market has emerged as an unintended consequence of a government policy originally designed to curb India's gold demand.

Read the full story at Times of India

This is an AI-generated summary. ShortSingh links to the original source for the complete article.

Discussion (0)

Supreme Court Dismisses Plea Challenging SIR Before West Bengal Bypolls

The Supreme Court on Monday rejected a petition filed against the Special Intensive Revision (SIR) of electoral rolls ahead of West Bengal's upcoming by-elections. The bypoll elections are scheduled to be held on October 6 in two constituencies. Voters from Rejinagar and Nandigram had approached the tribunal seeking relief from the top court. The petitioners had been hopeful of a favorable ruling but the Supreme Court declined to intervene in the matter.

0 comments Read more at NDTV

IndiaTimes of India ·

INDIA Bloc Meets to Discuss Election Commission Concerns, CEC Removal Motion

The INDIA bloc opposition alliance is convening to deliberate on concerns surrounding the Election Commission's Special Intensive Revision process. A central agenda item includes the possibility of moving a motion to remove Chief Election Commissioner Gyanesh Kumar. Opposition parties are also expected to plan a broader agitation strategy targeting the Election Commission and the BJP. While several key opposition leaders are set to participate, notable parties such as the Aam Aadmi Party and DMK will not be attending the meeting.

0 comments Read more at Times of India

IndiaNDTV ·

Silicon Valley Women Share Secret List of Over 100 Men Accused of Misconduct

A private document circulating among women in Silicon Valley reportedly names over 100 individuals accused of sexual misconduct, including rape. The document is part of what insiders describe as a 'whisper network,' an informal system women use to warn each other about alleged perpetrators. Several people who have viewed the document confirmed its existence to reporters. Such networks have emerged as women seek ways to protect one another outside formal reporting channels in the tech industry.

0 comments Read more at NDTV

IndiaTimes of India ·

Russia Escalates Strikes on Ukraine With Missiles and Drones Amid Air Defense Strain

Russia has been intensifying its aerial campaign against Ukraine, deploying ballistic missiles and jet-powered drones to target key cities. The sustained attacks are placing severe pressure on Ukraine's air defense systems, which are already stretched thin. A shortage of US-made Patriot missiles has further weakened Ukraine's ability to intercept incoming threats. Ukrainian officials have characterized the strikes as a deliberate Russian strategy to erode the country's defensive capabilities.

0 comments Read more at Times of India