Retail prices touched ₹1,03,000 for 10 gm of gold with a 3% goods and services tax (GST), an occurrence which does not augur well for sales on Akshaya Tritiya, an annual Hindu and Jain spring festival when it is considered auspicious to buy gold. Akshaya Tritiya falls on April 30 this year.
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.