India’s massive household gold holdings, worth $3.8 trillion, far exceed decades of FDI inflows. Redirecting even part of this unproductive wealth through proposed procurement and gold-bond schemes could ease trade deficits, boost capital formation, and lessen dependence on foreign investment.
Tamilnad Mercantile Bank Q1 profit jumps 35% on strong income growth
Tamilnad Mercantile Bank reported a 35% year-on-year rise in June quarter net profit to Rs 412 crore, driven by higher income and net interest income.