Government Exempts LPG Imports From Agriculture Cess

The government has exempted imports of LPG, liquified propane and liquified butane from 15 per cent agri cess with effect from Friday.

The government had in July imposed a 15 per cent agri cess on imports of these goods.

The Finance Ministry in a notification said that imports of LPG, liquified propane and liquified butane have been fully exempted from Agriculture Infrastructure Development cess (AIDC) effective September 1. 

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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Government Exempts LPG Imports From Agriculture Cess

The government has exempted imports of LPG, liquified propane and liquified butane from 15 per cent agri cess with effect from Friday.

The government had in July imposed a 15 per cent agri cess on imports of these goods.

The Finance Ministry in a notification said that imports of LPG, liquified propane and liquified butane have been fully exempted from Agriculture Infrastructure Development cess (AIDC) effective September 1. 

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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Chief Economic Adviser's Prediction On India's GDP Growth, Fiscal Deficit

Chief Economic Adviser V Anantha Nageswaran on Thursday said the economy is expected to grow at 6.5 per cent in the current fiscal notwithstanding deficient rains in August.

India recorded economic growth of 7.8 per cent in the April-June quarter of 2023-24 against 13.1 per cent in the year-ago period.

India's economy in Q1 grew at the fastest pace in a year, on the shoulders of a boost in capital expenditure both at central and state levels, along with stronger consumption demand, especially in rural areas, and improved performance in the services sector, he said.

"There is momentum in economic activity in general and it is not driven by price-related distortions. Therefore our projections still are very comfortably placed at 6.5 per cent for the current financial year," he said.

Risk is evenly distributed to around 6.5 per cent growth projection for FY2023-24, he said while briefing media following the release of first quarter GDP numbers.

Rising crude prices may warrant attention and prolonged geopolitical uncertainty and likely tighter financial conditions with continued monetary tightening can pose challenges to growth, he added.

With regard to price situation, Mr Nageswaran said food inflation is likely to subside with the arrival of fresh stock in the market and government pre-emptive measures.

Tomato prices are likely to decline with the arrival of fresh stocks by early September while enhanced imports of tur dal are expected to moderate pulse inflation, he said.

However, he said, August rain has been deficient and both the government and the Reserve Bank will be watching the food price developments.

During the first quarter, inflation stood at 4.6 per cent, lower than many developed and emerging economies.

"Food inflation was dominated by specific commodities. So, I think there is no real cause for concern that inflation would spike out of control and both the government and the Reserve Bank are taking measures in their respective domain to ensure that there is adequate supply and availability and that any price increase is moderated," he said.

With regard to fiscal deficit, Mr Nageswaran said there is no threat to the 5.9 per cent fiscal deficit announced in the Budget despite the expected shortfall with respect to disinvestment.

To finance the fiscal deficit in 2023-24, the net market borrowings from dated securities are estimated at Rs 11.8 lakh crore. The balance financing is expected to come from small savings and other sources. The gross market borrowings are estimated at Rs 15.4 lakh crore.

In Budget Estimates 2023-24, the Finance Minister had that the total receipts other than borrowings and the total expenditure are estimated at Rs 27.2 lakh crore and Rs 45 lakh crore respectively. Moreover, the net tax receipts are estimated at Rs 23.3 lakh crore.

Continuing the path of fiscal consolidation, the government intends to bring the fiscal deficit below 4.5 per cent of GDP by 2025-26.

Talking about drivers of growth, Mr Nageswaran said investment and consumer momentum will underpin solid growth prospects over the upcoming year.

The private sector capital formation, supported by the government's capex push, is underway, and that is a big plus for economic growth, employment and income gains for households, he said.

He further said that the new investment projects announced by the private sector have been highest in Q1 of FY2023-24 in 14 years.

The Union government's single-minded focus on capital expenditure over the years has crowded in the private sector and it has rubbed off on state governments too..

Expansion of public digital platforms and path-breaking measures such as PM Gati Shakti, the National Logistics Policy, and the Production-Linked Incentive schemes would boost manufacturing output, he said.

A slowdown in the global economy and trade may moderate export growth, but it may be overall better for India, he added..

With regard to consumption, he said, the rural demand for FMCGs has increased especially for high-value goods. The same trend is evident for small towns, contributing to growth, he added.

The CEA said that in spite of the global slowdown, the services sector exports have shown a remarkable performance and both manufacturing and services sectors are expanding and income growth is evident in the recovery in rural demand.

The residential real estate sector will underpin growth in the construction material sector, he added.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Chief Economic Adviser's Prediction On India's GDP Growth, Fiscal Deficit

Chief Economic Adviser V Anantha Nageswaran on Thursday said the economy is expected to grow at 6.5 per cent in the current fiscal notwithstanding deficient rains in August.

India recorded economic growth of 7.8 per cent in the April-June quarter of 2023-24 against 13.1 per cent in the year-ago period.

India's economy in Q1 grew at the fastest pace in a year, on the shoulders of a boost in capital expenditure both at central and state levels, along with stronger consumption demand, especially in rural areas, and improved performance in the services sector, he said.

"There is momentum in economic activity in general and it is not driven by price-related distortions. Therefore our projections still are very comfortably placed at 6.5 per cent for the current financial year," he said.

Risk is evenly distributed to around 6.5 per cent growth projection for FY2023-24, he said while briefing media following the release of first quarter GDP numbers.

Rising crude prices may warrant attention and prolonged geopolitical uncertainty and likely tighter financial conditions with continued monetary tightening can pose challenges to growth, he added.

With regard to price situation, Mr Nageswaran said food inflation is likely to subside with the arrival of fresh stock in the market and government pre-emptive measures.

Tomato prices are likely to decline with the arrival of fresh stocks by early September while enhanced imports of tur dal are expected to moderate pulse inflation, he said.

However, he said, August rain has been deficient and both the government and the Reserve Bank will be watching the food price developments.

During the first quarter, inflation stood at 4.6 per cent, lower than many developed and emerging economies.

"Food inflation was dominated by specific commodities. So, I think there is no real cause for concern that inflation would spike out of control and both the government and the Reserve Bank are taking measures in their respective domain to ensure that there is adequate supply and availability and that any price increase is moderated," he said.

With regard to fiscal deficit, Mr Nageswaran said there is no threat to the 5.9 per cent fiscal deficit announced in the Budget despite the expected shortfall with respect to disinvestment.

To finance the fiscal deficit in 2023-24, the net market borrowings from dated securities are estimated at Rs 11.8 lakh crore. The balance financing is expected to come from small savings and other sources. The gross market borrowings are estimated at Rs 15.4 lakh crore.

In Budget Estimates 2023-24, the Finance Minister had that the total receipts other than borrowings and the total expenditure are estimated at Rs 27.2 lakh crore and Rs 45 lakh crore respectively. Moreover, the net tax receipts are estimated at Rs 23.3 lakh crore.

Continuing the path of fiscal consolidation, the government intends to bring the fiscal deficit below 4.5 per cent of GDP by 2025-26.

Talking about drivers of growth, Mr Nageswaran said investment and consumer momentum will underpin solid growth prospects over the upcoming year.

The private sector capital formation, supported by the government's capex push, is underway, and that is a big plus for economic growth, employment and income gains for households, he said.

He further said that the new investment projects announced by the private sector have been highest in Q1 of FY2023-24 in 14 years.

The Union government's single-minded focus on capital expenditure over the years has crowded in the private sector and it has rubbed off on state governments too..

Expansion of public digital platforms and path-breaking measures such as PM Gati Shakti, the National Logistics Policy, and the Production-Linked Incentive schemes would boost manufacturing output, he said.

A slowdown in the global economy and trade may moderate export growth, but it may be overall better for India, he added..

With regard to consumption, he said, the rural demand for FMCGs has increased especially for high-value goods. The same trend is evident for small towns, contributing to growth, he added.

The CEA said that in spite of the global slowdown, the services sector exports have shown a remarkable performance and both manufacturing and services sectors are expanding and income growth is evident in the recovery in rural demand.

The residential real estate sector will underpin growth in the construction material sector, he added.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Indian Economy Grows 7.8% In April-June, Compared To 6.1% In Last Quarter

The Indian economy grew 7.8 per cent in the April-June quarter, driven by high private consumption and investment, the fastest in a year that saw a sharp rise in inflation.

It marks a rise from a 6.1 per cent GDP growth in January-March quarter of the previous financial year. However, it fell short of the Reserve Bank of India's 8 per cent forecast.

The year-ago period, April-June quarter of 2022-23, saw a 13.1 per cent growth. The GDP growth in October-December was 4.5 per cent.

With China's logging 6.3 per cent growth in the first quarter, India remains the fastest-growing major economy.

The agriculture sector grew 3.5 per cent in the first quarter, up from 2.4 per cent in the year-ago period. In the manufacturing sector, growth dipped from 6.1 per cent to 4.7 per cent.

The growth figures for the ongoing July-September quarter will be released on November 30.

Days earlier, the government shared a graph of annual GDP growth rate of top economies in 2023, which showed India at the top spot. "India's economy stands tall among the top 10," the government said.

The graph showed India's GDP growth as 5.9 per cent following by China with 5.2 per cent and US with 1.6 per cent.

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Indian Economy Grows 7.8% In April-June, Compared To 6.1% In Last Quarter

The Indian economy grew 7.8 per cent in the April-June quarter, the fastest in a year that saw a sharp rise in inflation.

This marks a rise from a 6.1 per cent GDP growth in January-March quarter of the previous financial year. The year-ago period, April-June quarter of 2022-23, saw 13.1 per cent growth.

The GDP figures for the ongoing July-September quarter will be released on November 30.

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Struggling On TikTok? Celebian Is The Growth Boost You Need

TikTok has exploded in popularity over the last few years, becoming one of the most engaging and talked-about social media platforms. For marketers, TikTok presents an exciting new opportunity to reach a broader, younger audience.

The app now has over 1 billion monthly active users, many of whom spend hours each day consuming its bite-sized video content.

Unlike other platforms, TikTok feels like a never-ending stream of entertainment that keeps people coming back. And its powerful algorithm is scarily good at serving users content that aligns with their interests and preferences. This creates a highly targeted environment for brands to connect with their target market.

Marketers are now flocking to explore the possibilities of TikTok. The platform has proven it can drive huge awareness and sales when brands get their TikTok strategy right. But standing out requires creativity and understanding what resonates with TikTok's unique user base. Brands will need to blend entertainment with authenticity if they want to succeed.

This article will examine why TikTok has become a must-try channel for marketers in 2023 and provide tips on how brands can leverage it to achieve their goals.

What is Celebian and How Does it Work?

As TikTok has exploded in popularity, a number of companies have emerged to help brands and creators grow their presence on the platform. One of the most popular is Celebian, founded in 2019 as a marketing platform specializing in providing TikTok users with instant likes, followers, and views.

Celebian saw the potential of TikTok for marketing early on and has become a leader in the space. Their goal is to make it easy and secure for TikTok users to achieve their desired engagement numbers.

The service works by allowing customers to purchase packages of TikTok likes, followers, and views from Celebian's website. Packages range based on the customer's needs. After purchasing, the customer simply enters their TikTok username and selects which posts they want to boost.

Celebian's technology then goes to work delivering real, high-quality likes, followers, and views from active TikTok users to the selected posts and profiles. This instant boost in engagement can help kickstart a TikTok account's growth and credibility.

For those skeptical of purchasing engagement, Celebian offers a free trial so potential customers can test it out risk-free. They also provide professional customer support to troubleshoot any issues.

With its user-friendly services, timely delivery, and reliable results, it's no wonder Celebian has become a go-to for those looking to enhance their TikTok presence. As TikTok marketing continues to grow, expect services like Celebian to thrive.

Pros

Celebian allows brands to connect with TikTok's massive Gen Z user base. Over 60% of TikTok's users are under 30.

TikTok's algorithm favors engagement over follower count. Celebian can provide the likes, comments, and views needed to boost engagement.

Celebian offers managed services beyond just selling engagement. Their experts can help create and optimize TikTok campaigns.

Packages start at just a few hundred dollars. TikTok marketing is extremely affordable compared to other platforms.

Fast customer support and deliveries based on hundreds of positive customer reviews.

Cons

While affordable, buying TikTok followers may seem inauthentic to some brands focused on organic growth.

There are no guarantees of TikTok fame. Smart content strategy is still crucial.

Services need to be used carefully to avoid violating TikTok's terms of service and getting banned.

Prices can add up for large ongoing campaigns, but bulk discounts are available.

Occasional delays in deliveries and customer support based on a minority of negative reviews.

Celebian Services: Followers, Likes & Views

Celebian is a social media marketing company that specializes in helping TikTok users grow their accounts and increase their engagement. They offer three main services - followers, likes, and views.

Buying Followers on Celebian

One of the key services Celebian provides is the ability to buy TikTok followers. Having more followers makes an account look more popular and established. Celebian offers packages of 100 to 10,000 high-quality followers.

The followers they provide are real accounts with profile pictures, bios, and posts. This makes them look authentic to other users. Buying more followers can help new or small accounts appear more credible and gain more organic followers over time. Established accounts may also purchase followers to further boost their numbers.

Celebian delivers the purchased followers gradually over 1-2 weeks. This natural follower growth helps avoid detection from TikTok. The company guarantees replacement of any followers that drop off the account.

Overall, buying followers from Celebian is a safe and effective way for any TikTok user to increase their follower count.

Purchasing Likes on Celebian

In addition to followers, Celebian allows users to buy TikTok likes. Likes are important signals of popularity on the platform. Videos with more likes tend to get promoted by TikTok's algorithm and organically gain even more engagement. Celebian provides package options ranging from 100 to 10,000 likes.

The likes come from real TikTok users located in the target country specified at checkout. Celebian evenly distributes the likes across posts selected by the customer. This natural pattern makes the purchased likes indistinguishable from organic ones.

Having more likes makes content stand out and can lead to followers, shares, and comments. Overall, buying likes is a smart move for users looking to boost their engagement.

Buying TikTok Views on Celebian

The third main service offered by Celebian is TikTok views. Views indicate popularity and make content appear worth watching. Celebian provides packages from 1,000 to 100,000 views on customers' TikTok videos.

The views come from real accounts and are delivered naturally over several days. Having more views signals to the TikTok algorithm that the content resonates with users. This can lead to more organic reach. Views also improve perceived authority and credibility.

For new or struggling accounts, purchased views can be the catalyst for growth. Celebian's views blend seamlessly with organic ones for a natural boost.

Why Choose Celebian?

There are a few key reasons Celebian stands out as a top provider of TikTok services. Firstly, they have significant experience in social media marketing. Their expertise translates to high-quality services optimized for TikTok. Celebian also provides excellent customer service and is very responsive to user needs.

Importantly, all of Celebian's services are safe to use. Their delivery methods avoid detection from TikTok. Celebian also offers a no-questions-asked refund policy for peace of mind.

Overall, Celebian's combination of experience, quality, safety, and service makes them a top choice for buying followers, likes, and views on TikTok. Their services can help any TikTok user boost their account and engagement.

Frequently Asked Questions

Some of the user concerns that might have you turning sides at night are as follows - and addressed too!

Is Celebian trustworthy?

Yes, Celebian is a legitimate and trustworthy company. They have years of experience providing social media marketing services. Celebian delivers real, high-quality followers, likes, and views safely with guaranteed customer satisfaction.

How can I get 100 likes on TikTok?

An easy way to get 100 TikTok likes is by purchasing a 100 like package from Celebian. The likes will come from real accounts and be delivered naturally over several days. Buying likes is safe and effective for boosting engagement.

What is the easiest way to buy TikTok followers?

The easiest way to buy TikTok followers is through Celebian's website. They make the purchase process quick and simple. Just select your desired number of followers, provide your TikTok handle, and complete checkout. The followers are then delivered gradually to your account.

How are the followers delivered from Celebian?

Celebian delivers followers over 1-2 weeks to avoid detection. They start with smaller amounts per day, then increase gradually to complete your order. The entire process is designed to look natural.

Can I see who likes my TikTok videos?

Currently, there is no way to see exactly who likes your TikTok videos unless they comment. You can see the total number of likes and which videos are most popular based on engagement. Buying likes from Celebian will increase your like count.

Is buying TikTok views safe to do?

Yes, buying views from Celebian is completely safe. The views come from real accounts to blend naturally with organic views. Celebian optimized their delivery methods to avoid any issues.

Take Away

For TikTok creators struggling to grow their audience and engagement, Celebian offers a proven solution. Their services can provide the momentum you need to get your content in front of more viewers.

With more followers, likes, and views, you'll start gaining organic growth as the algorithm picks up on the increased interactions. Celebian has established themselves as a trustworthy provider of high-quality TikTok services.

It operates transparently and delivers real, active users to your profile. While buying followers and engagement is controversial, many creators find it an effective strategy when used ethically. Working with Celebian can kickstart your account and get you noticed on TikTok.

Just ensure your content remains captivating and optimized for virality. With the right boost from Celebian and commitment to producing creative videos, you can grow a successful TikTok channel.

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via

Struggling On TikTok? Celebian Is The Growth Boost You Need

TikTok has exploded in popularity over the last few years, becoming one of the most engaging and talked-about social media platforms. For marketers, TikTok presents an exciting new opportunity to reach a broader, younger audience.

The app now has over 1 billion monthly active users, many of whom spend hours each day consuming its bite-sized video content.

Unlike other platforms, TikTok feels like a never-ending stream of entertainment that keeps people coming back. And its powerful algorithm is scarily good at serving users content that aligns with their interests and preferences. This creates a highly targeted environment for brands to connect with their target market.

Marketers are now flocking to explore the possibilities of TikTok. The platform has proven it can drive huge awareness and sales when brands get their TikTok strategy right. But standing out requires creativity and understanding what resonates with TikTok's unique user base. Brands will need to blend entertainment with authenticity if they want to succeed.

This article will examine why TikTok has become a must-try channel for marketers in 2023 and provide tips on how brands can leverage it to achieve their goals.

What is Celebian and How Does it Work?

As TikTok has exploded in popularity, a number of companies have emerged to help brands and creators grow their presence on the platform. One of the most popular is Celebian, founded in 2019 as a marketing platform specializing in providing TikTok users with instant likes, followers, and views.

Celebian saw the potential of TikTok for marketing early on and has become a leader in the space. Their goal is to make it easy and secure for TikTok users to achieve their desired engagement numbers.

The service works by allowing customers to purchase packages of TikTok likes, followers, and views from Celebian's website. Packages range based on the customer's needs. After purchasing, the customer simply enters their TikTok username and selects which posts they want to boost.

Celebian's technology then goes to work delivering real, high-quality likes, followers, and views from active TikTok users to the selected posts and profiles. This instant boost in engagement can help kickstart a TikTok account's growth and credibility.

For those skeptical of purchasing engagement, Celebian offers a free trial so potential customers can test it out risk-free. They also provide professional customer support to troubleshoot any issues.

With its user-friendly services, timely delivery, and reliable results, it's no wonder Celebian has become a go-to for those looking to enhance their TikTok presence. As TikTok marketing continues to grow, expect services like Celebian to thrive.

Pros

Celebian allows brands to connect with TikTok's massive Gen Z user base. Over 60% of TikTok's users are under 30.

TikTok's algorithm favors engagement over follower count. Celebian can provide the likes, comments, and views needed to boost engagement.

Celebian offers managed services beyond just selling engagement. Their experts can help create and optimize TikTok campaigns.

Packages start at just a few hundred dollars. TikTok marketing is extremely affordable compared to other platforms.

Fast customer support and deliveries based on hundreds of positive customer reviews.

Cons

While affordable, buying TikTok followers may seem inauthentic to some brands focused on organic growth.

There are no guarantees of TikTok fame. Smart content strategy is still crucial.

Services need to be used carefully to avoid violating TikTok's terms of service and getting banned.

Prices can add up for large ongoing campaigns, but bulk discounts are available.

Occasional delays in deliveries and customer support based on a minority of negative reviews.

Celebian Services: Followers, Likes & Views

Celebian is a social media marketing company that specializes in helping TikTok users grow their accounts and increase their engagement. They offer three main services - followers, likes, and views.

Buying Followers on Celebian

One of the key services Celebian provides is the ability to buy TikTok followers. Having more followers makes an account look more popular and established. Celebian offers packages of 100 to 10,000 high-quality followers.

The followers they provide are real accounts with profile pictures, bios, and posts. This makes them look authentic to other users. Buying more followers can help new or small accounts appear more credible and gain more organic followers over time. Established accounts may also purchase followers to further boost their numbers.

Celebian delivers the purchased followers gradually over 1-2 weeks. This natural follower growth helps avoid detection from TikTok. The company guarantees replacement of any followers that drop off the account.

Overall, buying followers from Celebian is a safe and effective way for any TikTok user to increase their follower count.

Purchasing Likes on Celebian

In addition to followers, Celebian allows users to buy TikTok likes. Likes are important signals of popularity on the platform. Videos with more likes tend to get promoted by TikTok's algorithm and organically gain even more engagement. Celebian provides package options ranging from 100 to 10,000 likes.

The likes come from real TikTok users located in the target country specified at checkout. Celebian evenly distributes the likes across posts selected by the customer. This natural pattern makes the purchased likes indistinguishable from organic ones.

Having more likes makes content stand out and can lead to followers, shares, and comments. Overall, buying likes is a smart move for users looking to boost their engagement.

Buying TikTok Views on Celebian

The third main service offered by Celebian is TikTok views. Views indicate popularity and make content appear worth watching. Celebian provides packages from 1,000 to 100,000 views on customers' TikTok videos.

The views come from real accounts and are delivered naturally over several days. Having more views signals to the TikTok algorithm that the content resonates with users. This can lead to more organic reach. Views also improve perceived authority and credibility.

For new or struggling accounts, purchased views can be the catalyst for growth. Celebian's views blend seamlessly with organic ones for a natural boost.

Why Choose Celebian?

There are a few key reasons Celebian stands out as a top provider of TikTok services. Firstly, they have significant experience in social media marketing. Their expertise translates to high-quality services optimized for TikTok. Celebian also provides excellent customer service and is very responsive to user needs.

Importantly, all of Celebian's services are safe to use. Their delivery methods avoid detection from TikTok. Celebian also offers a no-questions-asked refund policy for peace of mind.

Overall, Celebian's combination of experience, quality, safety, and service makes them a top choice for buying followers, likes, and views on TikTok. Their services can help any TikTok user boost their account and engagement.

Frequently Asked Questions

Some of the user concerns that might have you turning sides at night are as follows - and addressed too!

Is Celebian trustworthy?

Yes, Celebian is a legitimate and trustworthy company. They have years of experience providing social media marketing services. Celebian delivers real, high-quality followers, likes, and views safely with guaranteed customer satisfaction.

How can I get 100 likes on TikTok?

An easy way to get 100 TikTok likes is by purchasing a 100 like package from Celebian. The likes will come from real accounts and be delivered naturally over several days. Buying likes is safe and effective for boosting engagement.

What is the easiest way to buy TikTok followers?

The easiest way to buy TikTok followers is through Celebian's website. They make the purchase process quick and simple. Just select your desired number of followers, provide your TikTok handle, and complete checkout. The followers are then delivered gradually to your account.

How are the followers delivered from Celebian?

Celebian delivers followers over 1-2 weeks to avoid detection. They start with smaller amounts per day, then increase gradually to complete your order. The entire process is designed to look natural.

Can I see who likes my TikTok videos?

Currently, there is no way to see exactly who likes your TikTok videos unless they comment. You can see the total number of likes and which videos are most popular based on engagement. Buying likes from Celebian will increase your like count.

Is buying TikTok views safe to do?

Yes, buying views from Celebian is completely safe. The views come from real accounts to blend naturally with organic views. Celebian optimized their delivery methods to avoid any issues.

Take Away

For TikTok creators struggling to grow their audience and engagement, Celebian offers a proven solution. Their services can provide the momentum you need to get your content in front of more viewers.

With more followers, likes, and views, you'll start gaining organic growth as the algorithm picks up on the increased interactions. Celebian has established themselves as a trustworthy provider of high-quality TikTok services.

It operates transparently and delivers real, active users to your profile. While buying followers and engagement is controversial, many creators find it an effective strategy when used ethically. Working with Celebian can kickstart your account and get you noticed on TikTok.

Just ensure your content remains captivating and optimized for virality. With the right boost from Celebian and commitment to producing creative videos, you can grow a successful TikTok channel.

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via

RBI Authorises Bandhan Bank For Disbursing Civil Pension

Private sector lender Bandhan Bank on Tuesday said it has been appointed by Reserve Bank of India as an authorised pension disbursement bank on behalf of the Central Pension Accounting Office (CPAO) for the civil pensioners.

The bank will soon be integrating with the office of CPAO, Ministry of Finance, to operationalise the disbursement process, it said in a release.

The authorisation entitles the bank to disburse pensions to the central government employees in civil ministries/departments (other than railways, posts, and defence), National Capital Territory of Delhi, Union Territory Administrations without legislatures, retired judges of the high courts and the Supreme Court and All India Service Officers.

This scheme also covers payment of pensions to former Members of Parliament and the payment of pension and other amenities to former Presidents/Vice Presidents of India, the private sector lender said.
 

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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RBI Authorises Bandhan Bank For Disbursing Civil Pension

Private sector lender Bandhan Bank on Tuesday said it has been appointed by Reserve Bank of India as an authorised pension disbursement bank on behalf of the Central Pension Accounting Office (CPAO) for the civil pensioners.

The bank will soon be integrating with the office of CPAO, Ministry of Finance, to operationalise the disbursement process, it said in a release.

The authorisation entitles the bank to disburse pensions to the central government employees in civil ministries/departments (other than railways, posts, and defence), National Capital Territory of Delhi, Union Territory Administrations without legislatures, retired judges of the high courts and the Supreme Court and All India Service Officers.

This scheme also covers payment of pensions to former Members of Parliament and the payment of pension and other amenities to former Presidents/Vice Presidents of India, the private sector lender said.
 

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Reliance Jio 5G On Track To Cover Entire Country By December: Mukesh Ambani

Reliance Jio's 5G services marks the fastest-ever rollout of this scale anywhere in the world, and the company is "on track" to cover the entire country with the ultra high-speed network by December this year, RIL Chairman Mukesh Ambani said on Monday.

JioAirFiber will be launched on Ganesh Chaturthi, September 19, Mr Ambani said at the 46th AGM of Reliance Industries.

Jio customer base has crossed 450 million. Its 5G network covers 96 per cent of towns and the company is on track to cover the entire country by December.

"Jio's overall customer base has now crossed the milestone of 450 million subscribers, reflecting a year-on-year revenue growth of over 20 per cent," he said.

The per-user data consumption on Jio's network has surged, with the average user now consuming over 25 GB every month.

Mr Ambani said that Jio was launched seven years ago with a mission to transform India into a Premier Digital Society, and added "we have invested our heart and soul into building a Digital Public Infrastructure which the entire world has begun to admire." Jio has been the main catalyst of New India's spectacular digital transformation, he asserted.

"Now our ambitions are even higher -- and they go beyond the shores of India, as I shall explain. Let's first discuss Jio True 5G, our pioneering 5G broadband offering. We began our 5G rollout last October. In just nine months, Jio 5G is already present in over 96 per cent of the census towns of our country," Mr Ambani said.

Jio is on track to cover the entire country by December this year.

With over 50 million 5G customers, Jio is already leading in 5G adoption in India, Mr Ambani said.

"And we are the only company with the capacity to smoothly transition our entire 4G customer base to 5G, with minimal additional capital expenditure. With the growing adoption of Jio 5G, we are also seeing an increasing trend of high-ARPU, post-paid customers choosing Jio as their preferred network," Mr Ambani said. 

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Reliance Jio 5G On Track To Cover Entire Country By December: Mukesh Ambani

Reliance Jio's 5G services marks the fastest-ever rollout of this scale anywhere in the world, and the company is "on track" to cover the entire country with the ultra high-speed network by December this year, RIL Chairman Mukesh Ambani said on Monday.

JioAirFiber will be launched on Ganesh Chaturthi, September 19, Mr Ambani said at the 46th AGM of Reliance Industries.

Jio customer base has crossed 450 million. Its 5G network covers 96 per cent of towns and the company is on track to cover the entire country by December.

"Jio's overall customer base has now crossed the milestone of 450 million subscribers, reflecting a year-on-year revenue growth of over 20 per cent," he said.

The per-user data consumption on Jio's network has surged, with the average user now consuming over 25 GB every month.

Mr Ambani said that Jio was launched seven years ago with a mission to transform India into a Premier Digital Society, and added "we have invested our heart and soul into building a Digital Public Infrastructure which the entire world has begun to admire." Jio has been the main catalyst of New India's spectacular digital transformation, he asserted.

"Now our ambitions are even higher -- and they go beyond the shores of India, as I shall explain. Let's first discuss Jio True 5G, our pioneering 5G broadband offering. We began our 5G rollout last October. In just nine months, Jio 5G is already present in over 96 per cent of the census towns of our country," Mr Ambani said.

Jio is on track to cover the entire country by December this year.

With over 50 million 5G customers, Jio is already leading in 5G adoption in India, Mr Ambani said.

"And we are the only company with the capacity to smoothly transition our entire 4G customer base to 5G, with minimal additional capital expenditure. With the growing adoption of Jio 5G, we are also seeing an increasing trend of high-ARPU, post-paid customers choosing Jio as their preferred network," Mr Ambani said. 

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Nita Ambani Steps Down, Children Isha, Akash, Anant To Join Reliance Board

Industrialist Mukesh Ambani's wife Nita Ambani has stepped down from Reliance Industries Limited board of directors, making way for their children Isha, Akash, and Anant.

Isha Ambani, Akash Ambani, Anant Ambani are set to be appointed non-executive directors of the oil-to-retail conglomerate.

The board of directors has recommended their appointment and is pending approval by its shareholders.

The three Ambani scions have been closely involved with and are leading and managing key businesses of Reliance over the last few years including retail, digital services and energy and materials businesses, the said company said in a press release.

They also serve on the boards of the key subsidiaries of Reliance.

The board of directors also accepted Nita Ambani's resignation, but she will continue to attend all board meetings as a permanent invitee so that the company can continue to benefit from her advice, said the release.

"The Board of Directors also accepted the resignation of Nita Ambani from the Board respecting her decision to devote her energies and time to guide and enable Reliance Foundation to make even greater impact for India," it said.

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Nita Ambani Steps Down, Children Isha, Akash, Anant To Join Reliance Board

Industrialist Mukesh Ambani's wife Nita Ambani has stepped down from Reliance Industries Limited board of directors, making way for their children Isha, Akash, and Anant.

Isha Ambani, Akash Ambani, Anant Ambani are set to be appointed non-executive directors of the oil-to-retail conglomerate.

The board of directors has recommended their appointment and is pending approval by its shareholders.

The three Ambani scions have been closely involved with and are leading and managing key businesses of Reliance over the last few years including retail, digital services and energy and materials businesses, the said company said in a press release.

They also serve on the boards of the key subsidiaries of Reliance.

The board of directors also accepted Nita Ambani's resignation, but she will continue to attend all board meetings as a permanent invitee so that the company can continue to benefit from her advice, said the release.

"The Board of Directors also accepted the resignation of Nita Ambani from the Board respecting her decision to devote her energies and time to guide and enable Reliance Foundation to make even greater impact for India," it said.

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Government's Top Priority Is To Tame Inflation: Nirmala Sitharaman

Finance Minister Nirmala Sitharaman today said the government's top priority is to tame inflation to ensure sustained economic growth.

Addressing the B20 Summit India, being hosted by the Confederation of Indian Industry (CII), the minister said the GDP numbers for the first quarter, to be released this month, should be good.

Observing that elevated interest rates for considerable time hampers recovery, Ms Sitharaman said, "my priority is to tame inflation."

Retail inflation soared to a 15-month high of 7.44 per cent in July, mainly on account of spiralling prices of tomatoes and vegetables.

On growth, she said that India has been able to accelerate the pace of economic reforms and the first quarter GDP numbers "should be good".

The National Statistical Office is scheduled to release the GDP numbers for the first quarter on August 31.

Ms Sitharaman said that "green shoots' of private capital expenditure can be felt on back of the government's push for capital expenditure in the budget.

She also spoke about climate financing and reforms being undertaken by the government to attract foreign investments as they are vital for economic growth.
 

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Government's Top Priority Is To Tame Inflation: Nirmala Sitharaman

Finance Minister Nirmala Sitharaman today said the government's top priority is to tame inflation to ensure sustained economic growth.

Addressing the B20 Summit India, being hosted by the Confederation of Indian Industry (CII), the minister said the GDP numbers for the first quarter, to be released this month, should be good.

Observing that elevated interest rates for considerable time hampers recovery, Ms Sitharaman said, "my priority is to tame inflation."

Retail inflation soared to a 15-month high of 7.44 per cent in July, mainly on account of spiralling prices of tomatoes and vegetables.

On growth, she said that India has been able to accelerate the pace of economic reforms and the first quarter GDP numbers "should be good".

The National Statistical Office is scheduled to release the GDP numbers for the first quarter on August 31.

Ms Sitharaman said that "green shoots' of private capital expenditure can be felt on back of the government's push for capital expenditure in the budget.

She also spoke about climate financing and reforms being undertaken by the government to attract foreign investments as they are vital for economic growth.
 

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Hindustan Aeronautics Limited Hits All-Time High, Stock Turns Ex-Dividend

Shares of state-owned Hindustan Aeronautics Ltd (HAL) hit fresh lifetime highs as the stock turned ex-dividend on Thursday.

An ex-dividend date is the day on which a stock starts trading without the benefit of the next scheduled dividend payment.

The HAL stock gained as much as 2.7 per cent in trade on Thursday to hit a new all-time high of Rs 4,138.80 per share in the morning session on BSE. However, it soon erased all its gains to trade in the negative at Rs 3,989, down 1 per cent, by 11:25 AM.

A spurt in trading volume was also seen, with the number of shares changing hands on BSE jumping 1.2 times the daily average during the morning session itself.

To recall, the board of directors of the company had declared a final dividend of Rs 15 per equity share of Rs 10 each fully paid up (150 per cent) for the financial year 2022-23.

The record date for the payment of the final dividend, if approved by the shareholders in the company's annual general meeting (AGM), was set as August 24, 2023. The dividend shall be paid to the shareholders within 30 days from the date of its approval.

The 60th AGM of the company will be held on August 31, 2023, at 1500 Hours through video conferencing (VC) or other audio-visual means (OAVM).

Earlier in March 2023, HAL had paid an interim dividend of Rs 20 per share to the eligible shareholders for fiscal 2022-23. Before that, in calendar year 2022, the company had paid dividends thrice to its shareholders -- Rs 20 per share in November, Rs 10 per share in August and Rs 26 per share in February.

The company had recorded 31 per cent growth in its consolidated net profit at Rs 814 crore for the first quarter ended June 2023 (Q1 FY24) compared with Rs 620 crore in the year-ago period. Revenue from operation

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Hindustan Aeronautics Limited Hits All-Time High, Stock Turns Ex-Dividend

Shares of state-owned Hindustan Aeronautics Ltd (HAL) hit fresh lifetime highs as the stock turned ex-dividend on Thursday.

An ex-dividend date is the day on which a stock starts trading without the benefit of the next scheduled dividend payment.

The HAL stock gained as much as 2.7 per cent in trade on Thursday to hit a new all-time high of Rs 4,138.80 per share in the morning session on BSE. However, it soon erased all its gains to trade in the negative at Rs 3,989, down 1 per cent, by 11:25 AM.

A spurt in trading volume was also seen, with the number of shares changing hands on BSE jumping 1.2 times the daily average during the morning session itself.

To recall, the board of directors of the company had declared a final dividend of Rs 15 per equity share of Rs 10 each fully paid up (150 per cent) for the financial year 2022-23.

The record date for the payment of the final dividend, if approved by the shareholders in the company's annual general meeting (AGM), was set as August 24, 2023. The dividend shall be paid to the shareholders within 30 days from the date of its approval.

The 60th AGM of the company will be held on August 31, 2023, at 1500 Hours through video conferencing (VC) or other audio-visual means (OAVM).

Earlier in March 2023, HAL had paid an interim dividend of Rs 20 per share to the eligible shareholders for fiscal 2022-23. Before that, in calendar year 2022, the company had paid dividends thrice to its shareholders -- Rs 20 per share in November, Rs 10 per share in August and Rs 26 per share in February.

The company had recorded 31 per cent growth in its consolidated net profit at Rs 814 crore for the first quarter ended June 2023 (Q1 FY24) compared with Rs 620 crore in the year-ago period. Revenue from operation

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CBI Charges Visa Power For Bank Fraud Of Rs 1,964 Crore: Report

The CBI has registered an FIR against Visa Power and its then chairman Vishambhar Saran in connection with an alleged bank fraud of Rs 1,964 crore, officials told Press Trust of India on Thursday.

The action of the agency was initiated on a complaint from Punjab National Bank, one of the members of a consortium of 14 lenders which have sanctioned term loans of Rs 1,964 crore. PNB was the lead bank of the consortium and sanctioned loan of Rs 394 crore.

The bank has alleged that the company and accused officials -- Saran and directors Vikas Agarwal and Subrato Trivedi, both named in the FIR as accused -- had approached the bank seeking loans for developing coal-based thermal power project with a generation capacity of 1,200 MW in Raigarh in Chhattisgarh, they said.

"It has transpired that the accused persons in connivance and in furtherance of criminal conspiracy with each other have caused wrongful gain to themselves and wrongful loss to the banks to the tune of Rs 1,964 crore apart from interest dues from the date of NPA," according to the FIR.

The project was executed in two phases of 600 MW each and was to be financed through the consortium of lenders.

The account was declared a non-performing asset (NPA) by banks between 2015-16 because the project failed to achieve milestones like a failure of promoters to bring their respective share, expiry of coal linkages, expiry of the power purchase agreement, and delay in environmental clearance, among others.

"It is clear that accused persons hatched a conspiracy against public sector banks with intent to cheat them by diverting and siphoning off money and committed various offences under relevant provisions of the Indian Penal Code," the complaint from the PNB said.

PNB has already issued a look-out circular against the accused persons, they said.
 

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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CBI Charges Visa Power For Bank Fraud Of Rs 1,964 Crore: Report

The CBI has registered an FIR against Visa Power and its then chairman Vishambhar Saran in connection with an alleged bank fraud of Rs 1,964 crore, officials told Press Trust of India on Thursday.

The action of the agency was initiated on a complaint from Punjab National Bank, one of the members of a consortium of 14 lenders which have sanctioned term loans of Rs 1,964 crore. PNB was the lead bank of the consortium and sanctioned loan of Rs 394 crore.

The bank has alleged that the company and accused officials -- Saran and directors Vikas Agarwal and Subrato Trivedi, both named in the FIR as accused -- had approached the bank seeking loans for developing coal-based thermal power project with a generation capacity of 1,200 MW in Raigarh in Chhattisgarh, they said.

"It has transpired that the accused persons in connivance and in furtherance of criminal conspiracy with each other have caused wrongful gain to themselves and wrongful loss to the banks to the tune of Rs 1,964 crore apart from interest dues from the date of NPA," according to the FIR.

The project was executed in two phases of 600 MW each and was to be financed through the consortium of lenders.

The account was declared a non-performing asset (NPA) by banks between 2015-16 because the project failed to achieve milestones like a failure of promoters to bring their respective share, expiry of coal linkages, expiry of the power purchase agreement, and delay in environmental clearance, among others.

"It is clear that accused persons hatched a conspiracy against public sector banks with intent to cheat them by diverting and siphoning off money and committed various offences under relevant provisions of the Indian Penal Code," the complaint from the PNB said.

PNB has already issued a look-out circular against the accused persons, they said.
 

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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What Are The Most Important Gold IRA Pros And Cons?

You've probably heard about gold IRAs if you're planning your retirement strategy. These special retirement accounts act as an excellent alternative to diversify your portfolio and even build your wealth in the long term. However, many inexperienced investors jump right into these accounts without knowing everything about them.

Not knowing what you're dealing with can lead to financial issues later. Your retirement money is something delicate to take care of. Even though investing in gold and other precious metals offers plenty of benefits to people, you must consider a few things first.

I'll guide you through all the pros and cons of having a gold-backed IRA. If you've already decided on opening one of these retirement accounts, you can go directly to the guide I wrote here.

Overview - Pros and Cons of Investing in Gold IRAs

Let's not waste any time. Keep all of the following statements in mind if you're planning on opening a precious metals IRA account.

Pros

Diversification

Opening a gold IRA account is an excellent method to diversify your current portfolio. You may have heard the phrase: "Don't keep all your eggs in one basket." This applies specifically to retirement funds.

Diversification allows you to protect yourself from economic uncertainty. If you have all your money invested in one asset, and it fails, you risk losing everything.

On the contrary, if you allocate a portion of your portfolio to stocks and another to physical gold, for example, you'll have a better chance at dealing with these unexpected market movements. 

You shouldn't invest all your money in gold coins, either. Even though the value of these precious metals is known for being stable, it's better not to risk it.

Tax Benefits

Gold IRA investing can give you a few tax benefits once you're ready to retire. If you open a traditional IRA or SEP IRA, you can make tax-free contributions. You'll have to pay taxes once you make your first withdrawal.

Another benefit of traditional/SEP IRAs is that your contributions are tax-deductible.

On the other hand, if you open a Roth IRA, you'll pay taxes when contributing. However, you can make tax-free withdrawals when the time comes. Feel free to choose the gold IRA investments that suit your needs the most.

The IRS has strict rules when it comes to investing in physical gold for your IRA. Make sure to follow all guidelines correctly to enjoy the tax benefits once you retire.

Protection Against Inflation

Everyone in the world is exposed to inflation at some point. While you can predict whether the dollar's value will increase or fall with some expert help, there's no 100% guarantee for that.

Most of the time, gold coins and other precious metals maintain their value even if the dollar's price changes drastically. Its value even increases in some cases.

In other words, you can get consistent returns if you invest in precious metals.

Preserving Your Wealth

As mentioned, gold's price tends to remain stable. Other assets like bonds don't have the same luck.

If you want to protect your retirement savings, investing in gold, silver, platinum, or palladium can be a great idea. Gold IRAs, overall, are a great option to preserve your wealth even during times of financial uncertainty.

Ready to take advantage of this portfolio hedging tactic? The top three companies offer free investing kits you can access using the links below.

1. Augusta Precious Metals - Overall
2. Goldco - Best Reputation
3. American Hartford Gold Group - Best Introductory Offer for New Investors

Cons

Restrictions

The IRS set annual contribution limits for gold IRAs. In 2023, you can contribute up to $6,500 if you have a traditional or Roth IRA. If you're over 50 years old, you can contribute up to $7,500 per year.

Those who have SEP IRAs can contribute up to $66,000 or 25% of their self-employment income, whichever is higher.

Even though this may become a problem for those wanting to invest high amounts of money right away, it's not a big deal if you're far from your minimum withdrawal age.

Tax Risks

The minimum withdrawal age is 59 ½ years. In other words, you can't make any withdrawals from your gold IRA until you reach that age.

If you try to make a withdrawal before reaching the minimum age, you'll have to pay taxes on the withdrawal plus a 10% penalty. This only applies to traditional and SEP IRAs. What happens in the case of Roth IRAs?

As long as you withdraw an amount of money equivalent to what you contributed in the first place and do it after you're 59 and a half years old, you'll have no problems. The distribution will not be considered taxable or subject to penalty. However, if you make a withdrawal that's higher than what you initially contributed, or you withdraw before the minimum age, you'll get penalized.

According to the IRS, you'd have to meet certain "distribution requirements" for Roth IRAs if you don't want to get penalized in any way:

• You can only make a distribution five years after you first contributed to the account.
• The withdrawal can be made by a beneficiary or estate manager after you pass away.
• You can make withdrawals if you have a permanent disability.
• The distribution is used to buy or build/rebuild a home that meets the "first-time homebuyer" rule.

No Dividends

Having gold in an IRA won't give you passive income. Many people invest in stocks and bonds because they often give them a share of the company's dividends. However, this isn't the case with a gold IRA.

In other words, you shouldn't open a gold IRA if your goal is to earn passive income. Your goal with these assets should be to preserve your wealth and prepare for any potential market crashes.

Limited Returns

Following up with the previous fact, physical gold won't necessarily yield high returns. If you want to earn more money from your investments, you should look for riskier assets. I recommend you diversify your portfolio with different asset types (including precious metals) if you want all the benefits you're looking for.

Potential Account Fees

Most gold IRA companies charge extra fees for managing your account. You can expect setup, maintenance, storage, and custodial fees, depending on the people you work with. If you don't choose your gold IRA companies carefully, you could earn less money in the future.

Analyzing the Pros and Cons of Having Gold in an IRA

The disadvantages of precious metals IRAs aren't enough to offset the benefits. Most of the cons I mentioned happen if you don't open and manage your account correctly.

However, if you're smart about your investments and choose the best gold IRA companies to work with, you'll have no issues with your retirement money in the future. If you're planning on investing in gold and silver coins, make sure you take your time to analyze every possibility and consult with an expert.

—-> Get Your Free Investors Guide

What Is a Gold IRA?

If you're convinced of the benefits of a gold IRA and want to open an account, read this section. I'll give you all the information you need to get started on the right foot!

A gold IRA is a specialized retirement account. It allows you to hold certain assets that traditional accounts can't, such as:

• Gold
• Silver
• Platinum
• Palladium

Something that makes gold IRAs unique is that you won't hold paper assets only. You can invest in physical precious metals and store them in an approved depository.

You can choose between traditional or Roth IRAs for your new account, whichever sounds better.

Why Gold?

Gold has been popular for thousands of years. Not only is this asset used as a representation of wealth and status, but it has also been part of many civilizations throughout history.

You could argue many reasons for gold's popularity. Maybe it's because of its unique look or all its uses. In any case, gold has always been a valuable asset. Keep in mind that gold is always in demand; this is why it helps investors preserve their capital throughout the years.

With that being said, gold is not the ultimate solution to retirement. If you're not smart with your investments, you'll still go through a few financial issues throughout your life. On the contrary, you'll experience several benefits upon retirement if you're smart with your gold IRA purchases.

How Do You Make a Gold IRA Investment?

The first thing you need to do to enjoy the benefits of your gold IRA is to open your account with the right person. Let's go over all the steps necessary to get started:

Finding a Reputable Custodian

This is the most important step to follow. You must look for professional and reputable gold IRA companies, as they'll be responsible for managing your account. There are many options on the market, so make sure to review each one carefully before deciding.

Choosing Your Funding/Rollover Option

You have two options when opening your gold IRA. If you already have a retirement account, you can do a gold IRA rollover or transfer to make things easier.

• In a rollover, you ask your current custodian to send you the funds for your gold IRA. They will deposit the money, and you'll have 60 days to wire them to your new account if you want to avoid penalties. 
• Transfers are more comfortable. All you have to do is ask your custodian to make the transfer. They'll give you some paperwork to fill out. Once you're done, they'll send the money to your gold IRA. You won't have to do anything.

The second option (if you don't have an existing retirement account) is to go straight with your gold IRA custodian. Remember to follow the annual contribution guidelines stated by the IRS.

Buy Your Precious Metals

You can start buying your precious metals through your gold IRA! Keep in mind that the IRS has a few requirements on which type of precious metals you can buy. If you don't buy approved assets, you'll be subject to taxes. The IRS asks for a minimum purity level of 99.5% for gold, for example. Also, the precious metals in your gold IRA must be produced by an accredited refiner/manufacturer or by a national government mint. With that being said, you have a wide range of precious metals to choose from:

• Bars/Bullion
• Gold Coins - U.S. Gold Buffalo, Canadian Maple Leaf, etc.
• Silver Coins - American Silver Eagle, Canadian Silver Maple Leaf, etc.
• Platinum Coins - Australian Platinum Kangaroo, American Platinum Eagle, etc.

Palladium Coins - Canadian Palladium Maple Leaf Now, these are the items you can't include in a gold IRA:

• Gold with a purity level lower than 99.5%
• Silver with a purity level lower than 99.9%
• Platinum with a purity level lower than 99.95%
• Palladium with a purity level lower than 99.95%
• Gold Krugerrands
• Collectible coins
• Coins not manufactured by a national government mint or approved manufacturer
• Pre-1933 gold
• U.S. silver coins that have 90% of silver content.

Ask your custodian for guidance if you're confused. They'll give you an appropriate investment plan that meets IRS guidelines and your goals.

—-> Get Your Free Investors Guide

Choose a Good Depository

You can't store IRS-approved precious metals at home. Otherwise, you risk getting penalized and taxed. The solution to this problem is to store your precious metals somewhere approved by the IRS. Some popular depositories include Delaware Depository, CNT Depository, etc.

Most gold IRA companies have a list of depositories you can choose from. Remember to check each company's storage and custodial fees before deciding.

Make Withdrawals Once You're Ready

Make your withdrawals once you meet all the IRS requirements. If you're over 59 years and a half old, you can make penalty-free withdrawals. You'll have to make "required minimum distributions" once you reach the age of 72.

On the other hand, if you have a Roth gold IRA, you won't have RMDs or taxation on withdrawals. However, make sure you're withdrawing at the required age and that your first IRA contribution is at least five years old.

What Makes Physical Precious Metals Better Than Other Assets?

It's not that precious metals are the ultimate investment solution to consider but rather that they have advantages over others. Asset classes like stocks and ETFs depend on political and market movements.

Any sudden event in the world can affect an asset's price considerably. In the case of stocks specifically, not all of them may be a good option to invest in.

Some stocks can experience low liquidity, meaning that shareholders may not get the benefits/dividends they expected. In other words, other asset classes depend on specific events, companies, or other external factors. Precious metals, on the other hand, don't depend on those things.

They've maintained their stability for thousands of years, meaning you can rest assured your retirement funds are safe for later. Something that precious metals may not help you with is high returns.

As mentioned, physical gold and other related assets are known for maintaining their value. However, they won't give you greater returns like stocks, for example. If you want to reduce your portfolio's risk, the best thing you can do is diversify it with different asset classes. You'll protect most of your funds by throwing precious metals into the mix.

What Are the Benefits of Hiring a Gold IRA Company?

You must open your gold IRA account with the right company if you want to enjoy its benefits. Gold IRA companies have all the experience needed to manage your account in the best way possible.

When you work with an experienced custodian, you'll avoid making investment mistakes that could hurt your portfolio in the future. Moreover, keeping up with all the IRS rules can be complicated, especially as you age.

You won't have to worry about that anymore since your custodian will take care of everything. Many gold IRA companies provide their users with financial advice to maximize their portfolio's potential. Not everyone is a seasoned investor, so having an expert by your side could make all the difference.

How Do You Choose the Right Gold IRA Company?

The best gold IRA company will be the one that checks all your boxes. If you don't know where to start, consider the following before you make your decision:

• Reputation/Customer Reviews
• Fees
• Credentials
• Transparency
• Storage Options
• Minimum Investment Amount
• Customer Service
• Educational Resources
• Product Offering

How Much Should You Invest in Gold?

It depends on your financial situation. As mentioned, you shouldn't allocate all your portfolio to precious metals. Your goal should be to diversify as much as possible, but how do you do that? Many investors recommend allocating about 5%-10% of your portfolio to gold and other precious metals.

Such a "small" amount is more than enough to protect your savings until you retire. If you're someone with a great financial situation, you could invest more. However, make sure to ask a professional advisor before doing that. You could save yourself from many headaches.

Where's the Best Place to Store Your Precious Metals?

There's no "best" place to store your metals. As long as you choose a depository approved by the IRS, you're good to go. Your decision will depend on which depository meets your needs the most. With that being said, there are plenty of depositories that will meet most people's goals:

• Delaware Depository
• Brinks
• JP Morgan Chase Bank NA
• HSBC Bank USA
• CNT Depository
• and more

Some gold IRA companies have partnerships with depositories. Feel free to ask to get the best deal for your retirement account.

<<<< Get Your Free Gold Investing Guide >>>>

Bottom Line - Is a Gold IRA a Good Investment?

A precious metals IRA is an excellent option as long as you manage it correctly. You won't enjoy all the tax benefits if you don't follow IRS guidelines, for example.

It's also important to remember that investing in gold isn't just about depositing money and calling it a day. You must work with professional custodians that can guide you through the entire experience. Creating a great investment strategy is also essential to meet your goals.

To summarize, the pros of a gold IRA far outweigh the cons. I recommend you get your IRA gold investment journey started today and discover the benefits that come with these accounts.

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What Are The Most Important Gold IRA Pros And Cons?

You've probably heard about gold IRAs if you're planning your retirement strategy. These special retirement accounts act as an excellent alternative to diversify your portfolio and even build your wealth in the long term. However, many inexperienced investors jump right into these accounts without knowing everything about them.

Not knowing what you're dealing with can lead to financial issues later. Your retirement money is something delicate to take care of. Even though investing in gold and other precious metals offers plenty of benefits to people, you must consider a few things first.

I'll guide you through all the pros and cons of having a gold-backed IRA. If you've already decided on opening one of these retirement accounts, you can go directly to the guide I wrote here.

Overview - Pros and Cons of Investing in Gold IRAs

Let's not waste any time. Keep all of the following statements in mind if you're planning on opening a precious metals IRA account.

Pros

Diversification

Opening a gold IRA account is an excellent method to diversify your current portfolio. You may have heard the phrase: "Don't keep all your eggs in one basket." This applies specifically to retirement funds.

Diversification allows you to protect yourself from economic uncertainty. If you have all your money invested in one asset, and it fails, you risk losing everything.

On the contrary, if you allocate a portion of your portfolio to stocks and another to physical gold, for example, you'll have a better chance at dealing with these unexpected market movements. 

You shouldn't invest all your money in gold coins, either. Even though the value of these precious metals is known for being stable, it's better not to risk it.

Tax Benefits

Gold IRA investing can give you a few tax benefits once you're ready to retire. If you open a traditional IRA or SEP IRA, you can make tax-free contributions. You'll have to pay taxes once you make your first withdrawal.

Another benefit of traditional/SEP IRAs is that your contributions are tax-deductible.

On the other hand, if you open a Roth IRA, you'll pay taxes when contributing. However, you can make tax-free withdrawals when the time comes. Feel free to choose the gold IRA investments that suit your needs the most.

The IRS has strict rules when it comes to investing in physical gold for your IRA. Make sure to follow all guidelines correctly to enjoy the tax benefits once you retire.

Protection Against Inflation

Everyone in the world is exposed to inflation at some point. While you can predict whether the dollar's value will increase or fall with some expert help, there's no 100% guarantee for that.

Most of the time, gold coins and other precious metals maintain their value even if the dollar's price changes drastically. Its value even increases in some cases.

In other words, you can get consistent returns if you invest in precious metals.

Preserving Your Wealth

As mentioned, gold's price tends to remain stable. Other assets like bonds don't have the same luck.

If you want to protect your retirement savings, investing in gold, silver, platinum, or palladium can be a great idea. Gold IRAs, overall, are a great option to preserve your wealth even during times of financial uncertainty.

Ready to take advantage of this portfolio hedging tactic? The top three companies offer free investing kits you can access using the links below.

1. Augusta Precious Metals - Overall
2. Goldco - Best Reputation
3. American Hartford Gold Group - Best Introductory Offer for New Investors

Cons

Restrictions

The IRS set annual contribution limits for gold IRAs. In 2023, you can contribute up to $6,500 if you have a traditional or Roth IRA. If you're over 50 years old, you can contribute up to $7,500 per year.

Those who have SEP IRAs can contribute up to $66,000 or 25% of their self-employment income, whichever is higher.

Even though this may become a problem for those wanting to invest high amounts of money right away, it's not a big deal if you're far from your minimum withdrawal age.

Tax Risks

The minimum withdrawal age is 59 ½ years. In other words, you can't make any withdrawals from your gold IRA until you reach that age.

If you try to make a withdrawal before reaching the minimum age, you'll have to pay taxes on the withdrawal plus a 10% penalty. This only applies to traditional and SEP IRAs. What happens in the case of Roth IRAs?

As long as you withdraw an amount of money equivalent to what you contributed in the first place and do it after you're 59 and a half years old, you'll have no problems. The distribution will not be considered taxable or subject to penalty. However, if you make a withdrawal that's higher than what you initially contributed, or you withdraw before the minimum age, you'll get penalized.

According to the IRS, you'd have to meet certain "distribution requirements" for Roth IRAs if you don't want to get penalized in any way:

• You can only make a distribution five years after you first contributed to the account.
• The withdrawal can be made by a beneficiary or estate manager after you pass away.
• You can make withdrawals if you have a permanent disability.
• The distribution is used to buy or build/rebuild a home that meets the "first-time homebuyer" rule.

No Dividends

Having gold in an IRA won't give you passive income. Many people invest in stocks and bonds because they often give them a share of the company's dividends. However, this isn't the case with a gold IRA.

In other words, you shouldn't open a gold IRA if your goal is to earn passive income. Your goal with these assets should be to preserve your wealth and prepare for any potential market crashes.

Limited Returns

Following up with the previous fact, physical gold won't necessarily yield high returns. If you want to earn more money from your investments, you should look for riskier assets. I recommend you diversify your portfolio with different asset types (including precious metals) if you want all the benefits you're looking for.

Potential Account Fees

Most gold IRA companies charge extra fees for managing your account. You can expect setup, maintenance, storage, and custodial fees, depending on the people you work with. If you don't choose your gold IRA companies carefully, you could earn less money in the future.

Analyzing the Pros and Cons of Having Gold in an IRA

The disadvantages of precious metals IRAs aren't enough to offset the benefits. Most of the cons I mentioned happen if you don't open and manage your account correctly.

However, if you're smart about your investments and choose the best gold IRA companies to work with, you'll have no issues with your retirement money in the future. If you're planning on investing in gold and silver coins, make sure you take your time to analyze every possibility and consult with an expert.

—-> Get Your Free Investors Guide

What Is a Gold IRA?

If you're convinced of the benefits of a gold IRA and want to open an account, read this section. I'll give you all the information you need to get started on the right foot!

A gold IRA is a specialized retirement account. It allows you to hold certain assets that traditional accounts can't, such as:

• Gold
• Silver
• Platinum
• Palladium

Something that makes gold IRAs unique is that you won't hold paper assets only. You can invest in physical precious metals and store them in an approved depository.

You can choose between traditional or Roth IRAs for your new account, whichever sounds better.

Why Gold?

Gold has been popular for thousands of years. Not only is this asset used as a representation of wealth and status, but it has also been part of many civilizations throughout history.

You could argue many reasons for gold's popularity. Maybe it's because of its unique look or all its uses. In any case, gold has always been a valuable asset. Keep in mind that gold is always in demand; this is why it helps investors preserve their capital throughout the years.

With that being said, gold is not the ultimate solution to retirement. If you're not smart with your investments, you'll still go through a few financial issues throughout your life. On the contrary, you'll experience several benefits upon retirement if you're smart with your gold IRA purchases.

How Do You Make a Gold IRA Investment?

The first thing you need to do to enjoy the benefits of your gold IRA is to open your account with the right person. Let's go over all the steps necessary to get started:

Finding a Reputable Custodian

This is the most important step to follow. You must look for professional and reputable gold IRA companies, as they'll be responsible for managing your account. There are many options on the market, so make sure to review each one carefully before deciding.

Choosing Your Funding/Rollover Option

You have two options when opening your gold IRA. If you already have a retirement account, you can do a gold IRA rollover or transfer to make things easier.

• In a rollover, you ask your current custodian to send you the funds for your gold IRA. They will deposit the money, and you'll have 60 days to wire them to your new account if you want to avoid penalties. 
• Transfers are more comfortable. All you have to do is ask your custodian to make the transfer. They'll give you some paperwork to fill out. Once you're done, they'll send the money to your gold IRA. You won't have to do anything.

The second option (if you don't have an existing retirement account) is to go straight with your gold IRA custodian. Remember to follow the annual contribution guidelines stated by the IRS.

Buy Your Precious Metals

You can start buying your precious metals through your gold IRA! Keep in mind that the IRS has a few requirements on which type of precious metals you can buy. If you don't buy approved assets, you'll be subject to taxes. The IRS asks for a minimum purity level of 99.5% for gold, for example. Also, the precious metals in your gold IRA must be produced by an accredited refiner/manufacturer or by a national government mint. With that being said, you have a wide range of precious metals to choose from:

• Bars/Bullion
• Gold Coins - U.S. Gold Buffalo, Canadian Maple Leaf, etc.
• Silver Coins - American Silver Eagle, Canadian Silver Maple Leaf, etc.
• Platinum Coins - Australian Platinum Kangaroo, American Platinum Eagle, etc.

Palladium Coins - Canadian Palladium Maple Leaf Now, these are the items you can't include in a gold IRA:

• Gold with a purity level lower than 99.5%
• Silver with a purity level lower than 99.9%
• Platinum with a purity level lower than 99.95%
• Palladium with a purity level lower than 99.95%
• Gold Krugerrands
• Collectible coins
• Coins not manufactured by a national government mint or approved manufacturer
• Pre-1933 gold
• U.S. silver coins that have 90% of silver content.

Ask your custodian for guidance if you're confused. They'll give you an appropriate investment plan that meets IRS guidelines and your goals.

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Choose a Good Depository

You can't store IRS-approved precious metals at home. Otherwise, you risk getting penalized and taxed. The solution to this problem is to store your precious metals somewhere approved by the IRS. Some popular depositories include Delaware Depository, CNT Depository, etc.

Most gold IRA companies have a list of depositories you can choose from. Remember to check each company's storage and custodial fees before deciding.

Make Withdrawals Once You're Ready

Make your withdrawals once you meet all the IRS requirements. If you're over 59 years and a half old, you can make penalty-free withdrawals. You'll have to make "required minimum distributions" once you reach the age of 72.

On the other hand, if you have a Roth gold IRA, you won't have RMDs or taxation on withdrawals. However, make sure you're withdrawing at the required age and that your first IRA contribution is at least five years old.

What Makes Physical Precious Metals Better Than Other Assets?

It's not that precious metals are the ultimate investment solution to consider but rather that they have advantages over others. Asset classes like stocks and ETFs depend on political and market movements.

Any sudden event in the world can affect an asset's price considerably. In the case of stocks specifically, not all of them may be a good option to invest in.

Some stocks can experience low liquidity, meaning that shareholders may not get the benefits/dividends they expected. In other words, other asset classes depend on specific events, companies, or other external factors. Precious metals, on the other hand, don't depend on those things.

They've maintained their stability for thousands of years, meaning you can rest assured your retirement funds are safe for later. Something that precious metals may not help you with is high returns.

As mentioned, physical gold and other related assets are known for maintaining their value. However, they won't give you greater returns like stocks, for example. If you want to reduce your portfolio's risk, the best thing you can do is diversify it with different asset classes. You'll protect most of your funds by throwing precious metals into the mix.

What Are the Benefits of Hiring a Gold IRA Company?

You must open your gold IRA account with the right company if you want to enjoy its benefits. Gold IRA companies have all the experience needed to manage your account in the best way possible.

When you work with an experienced custodian, you'll avoid making investment mistakes that could hurt your portfolio in the future. Moreover, keeping up with all the IRS rules can be complicated, especially as you age.

You won't have to worry about that anymore since your custodian will take care of everything. Many gold IRA companies provide their users with financial advice to maximize their portfolio's potential. Not everyone is a seasoned investor, so having an expert by your side could make all the difference.

How Do You Choose the Right Gold IRA Company?

The best gold IRA company will be the one that checks all your boxes. If you don't know where to start, consider the following before you make your decision:

• Reputation/Customer Reviews
• Fees
• Credentials
• Transparency
• Storage Options
• Minimum Investment Amount
• Customer Service
• Educational Resources
• Product Offering

How Much Should You Invest in Gold?

It depends on your financial situation. As mentioned, you shouldn't allocate all your portfolio to precious metals. Your goal should be to diversify as much as possible, but how do you do that? Many investors recommend allocating about 5%-10% of your portfolio to gold and other precious metals.

Such a "small" amount is more than enough to protect your savings until you retire. If you're someone with a great financial situation, you could invest more. However, make sure to ask a professional advisor before doing that. You could save yourself from many headaches.

Where's the Best Place to Store Your Precious Metals?

There's no "best" place to store your metals. As long as you choose a depository approved by the IRS, you're good to go. Your decision will depend on which depository meets your needs the most. With that being said, there are plenty of depositories that will meet most people's goals:

• Delaware Depository
• Brinks
• JP Morgan Chase Bank NA
• HSBC Bank USA
• CNT Depository
• and more

Some gold IRA companies have partnerships with depositories. Feel free to ask to get the best deal for your retirement account.

<<<< Get Your Free Gold Investing Guide >>>>

Bottom Line - Is a Gold IRA a Good Investment?

A precious metals IRA is an excellent option as long as you manage it correctly. You won't enjoy all the tax benefits if you don't follow IRS guidelines, for example.

It's also important to remember that investing in gold isn't just about depositing money and calling it a day. You must work with professional custodians that can guide you through the entire experience. Creating a great investment strategy is also essential to meet your goals.

To summarize, the pros of a gold IRA far outweigh the cons. I recommend you get your IRA gold investment journey started today and discover the benefits that come with these accounts.

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SpiceJet Goes To Court Over Rs 579 Crore Refund To Kalanithi Maran Order

SpiceJet and its promoter Ajay Singh Wednesday approached the Delhi High Court challenging a single-judge order upholding an arbitral award asking them to refund Rs 579 crore plus interest to media baron Kalanithi Maran.

The appeals came up before a division bench of Justices Yashwant Varma and Dharmesh Sharma which initially listed it for hearing on September 15 as the counsel for SpiceJet and Singh were not present.

Later, SpiceJet's counsel mentioned the matter before the bench which then listed it for hearing on Thursday.

On July 31, the single judge had upheld the award announced by the arbitration tribunal on July 20, 2018 in favour of Maran and his company Kal Airways.

“There is nothing in the impugned award to suggest that it suffers from patent illegality and the findings therein are perverse and will shock the conscience of this court.

"In the instant case, the petitioners have not been able to prove that the impugned arbitral award is patently illegal, against public policy of India or fundamental policy of law and thus have failed to make out a case for the award to be set aside,” the single judge bench had said in its verdict.

It had said the court was barred from entering into the merits of an award unless there was an error that was apparent on the face of the record or an illegality that goes to the root of the matter.

Ajay Singh had approached the high court challenging the arbitral award.

The high court had said the petitioners had failed to substantiate the grounds for setting aside the arbitral award and dismissed the two petitions by Spicejet and Ajay Singh.

The case dates to January 2015, when Singh, who owned the airline earlier, bought it back from Maran after it was grounded for months due to resource crunch.

While the tribunal had asked Maran to pay Singh and the airline Rs 29 crore in penal interest, Singh was asked to refund Rs 579 crore plus interest to Maran.

The tribunal, created in 2016 on the orders of the Delhi High Court to adjudicate the share transfer dispute, had held that there was no breach of a share sale and purchase agreement reached between Maran and current promoter Ajay Singh in late January 2015.

In a relief to Ajay Singh, the tribunal had, however, rejected Maran's appeal for damages of Rs 1,323 crore from the Gurugram-based carrier.

In February 2015, Maran of the Sun Network and Kal Airways, his investment vehicle, had transferred their 58.46 per cent stake in SpiceJet to Singh for Rs 2 along with Rs 1,500 crore debt liability, after the airline was grounded due to a severe cash crunch. Singh was the first co-founder of the airline and is now its chairman and managing director.

As part of the agreement, Maran and Kal Airways had claimed to have paid SpiceJet Rs 679 crore for issuing warrants and preference shares. However, Maran approached the Delhi High Court in 2017, alleging SpiceJet had neither issued convertible warrants and preference shares nor returned the money. 

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SpiceJet Goes To Court Over Rs 579 Crore Refund To Kalanithi Maran Order

SpiceJet and its promoter Ajay Singh Wednesday approached the Delhi High Court challenging a single-judge order upholding an arbitral award asking them to refund Rs 579 crore plus interest to media baron Kalanithi Maran.

The appeals came up before a division bench of Justices Yashwant Varma and Dharmesh Sharma which initially listed it for hearing on September 15 as the counsel for SpiceJet and Singh were not present.

Later, SpiceJet's counsel mentioned the matter before the bench which then listed it for hearing on Thursday.

On July 31, the single judge had upheld the award announced by the arbitration tribunal on July 20, 2018 in favour of Maran and his company Kal Airways.

“There is nothing in the impugned award to suggest that it suffers from patent illegality and the findings therein are perverse and will shock the conscience of this court.

"In the instant case, the petitioners have not been able to prove that the impugned arbitral award is patently illegal, against public policy of India or fundamental policy of law and thus have failed to make out a case for the award to be set aside,” the single judge bench had said in its verdict.

It had said the court was barred from entering into the merits of an award unless there was an error that was apparent on the face of the record or an illegality that goes to the root of the matter.

Ajay Singh had approached the high court challenging the arbitral award.

The high court had said the petitioners had failed to substantiate the grounds for setting aside the arbitral award and dismissed the two petitions by Spicejet and Ajay Singh.

The case dates to January 2015, when Singh, who owned the airline earlier, bought it back from Maran after it was grounded for months due to resource crunch.

While the tribunal had asked Maran to pay Singh and the airline Rs 29 crore in penal interest, Singh was asked to refund Rs 579 crore plus interest to Maran.

The tribunal, created in 2016 on the orders of the Delhi High Court to adjudicate the share transfer dispute, had held that there was no breach of a share sale and purchase agreement reached between Maran and current promoter Ajay Singh in late January 2015.

In a relief to Ajay Singh, the tribunal had, however, rejected Maran's appeal for damages of Rs 1,323 crore from the Gurugram-based carrier.

In February 2015, Maran of the Sun Network and Kal Airways, his investment vehicle, had transferred their 58.46 per cent stake in SpiceJet to Singh for Rs 2 along with Rs 1,500 crore debt liability, after the airline was grounded due to a severe cash crunch. Singh was the first co-founder of the airline and is now its chairman and managing director.

As part of the agreement, Maran and Kal Airways had claimed to have paid SpiceJet Rs 679 crore for issuing warrants and preference shares. However, Maran approached the Delhi High Court in 2017, alleging SpiceJet had neither issued convertible warrants and preference shares nor returned the money. 

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Qatar Investment Authority To Invest Rs 8,278 Crore In Reliance Retail

Reliance Industries on Wednesday announced that Qatar Investment Authority (QIA), through a wholly-owned subsidiary, will invest Rs 8,278 crore into its retail arm Reliance Retail Ventures Limited (RRVL).

"This investment values RRVL at a pre-money equity value of Rs 8.278 lakh crore," Reliance Industries said in a regulatory filing.

RRVL, through its subsidiaries and associates, operates India's largest, retail business with an integrated omni-channel network of over 18,500 stores.

"QIA's investment will translate into a minority equity stake of 0.99 per cent in RRVL on a fully-diluted basis," it added.

RRVL Director Isha Mukesh Ambani said, "We are delighted to welcome QIA as an investor in Reliance Retail Ventures Ltd. We look forward to benefitting from QIA's global experience and strong track record of value creation as we further develop Reliance Retail Ventures Limited into a world class institution, driving transformation of the Indian retail sector. The investment by QIA is a strong endorsement of a positive outlook towards Indian economy and Reliance's retail business model, strategy and execution capabilities."

Mansoor Ebrahim Al-Mahmoud, CEO, QIA, said, "QIA is committed to supporting innovative companies with high-growth potential in India's fast growing retail market. We are looking forward to Reliance Retail Ventures Limited, with its strong vision and impressive growth trajectory, joining our growing and diverse portfolio of investments in India."

RRVL, which is the leading retailer of the country, is aggressively expanding its business here by acquiring companies and getting franchise rights of leading international brands for the Indian market.

Its board had on July 4, 2023, approved a proposal in which shares held by such shareholders shall stand cancelled and extinguished as per the capital reduction plan.

In 2020, RRVL had raised Rs 47,265 crore (around USD 6.4 billion) from global private equity funds for a 10.09 per cent stake, valuing the company at more than Rs 4.2 lakh crore.

This was the largest fundraising exercise in the sector at that time.

The company had raised funds from Silver Lake, KKR, Mubadala, Abu Dhabi Investment Authority, GIC, TPG, General Atlantic and Saudi Arabia's Public Investment Fund at a valuation of around USD 57 billion at that time.
 

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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