Jewellers report a 10-15% drop in gold demand by volume this Dhanteras. Consumers prefer lightweight and diamond-studded jewellery. Despite this, value sales of gold rose by up to 25%, helped by high prices. Silver jewellery demand increased by 30-35%. Young buyers returned to stores, attracted by high returns on precious metals.
RBI eases restrictions on cash credit accounts, eases current account norms
The Reserve Bank of India has lifted all restrictions on banks opening and maintaining cash credit accounts, offering greater flexibility for short-term working capital loans.