Category: Beyond

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Gold at ₹1.61 lakh, Silver near ₹2.85 lakh

Gold prices in India rose further on Wednesday, February 25, 2026, with the precious metal holding above the ₹1.60-lakh mark, while silver traded close to ₹2.85 lakh per kilogram in the futures market. The gains were supported by firm global trends, a weaker rupee and continued safe-haven demand.

On the Multi Commodity Exchange (MCX), gold futures inched up by about ₹10 to trade around ₹1,61,790 per 10 grams, maintaining the strong levels seen earlier this week. In the physical market, retail prices also remained elevated across major cities. Silver futures, however, showed mild volatility and were last quoted at around ₹2,84,900 per kg, slightly lower by about ₹100 from the previous close.

In the domestic bullion market, 24-carat gold continued to trade at premium levels in key centres such as Delhi, Mumbai, Chennai, Kolkata and Bengaluru. The average retail price of 24K gold stayed above ₹1.61 lakh per 10 grams, while 22K gold hovered around ₹1.48 lakh. City-wise variations were marginal, reflecting a broadly uniform trend across the country.

The rise in gold prices is largely in line with firm international markets, where persistent geopolitical tensions and uncertainty over global trade policies have boosted demand for safe-haven assets. A softer rupee against the US dollar has further pushed up domestic bullion rates, making imports costlier and supporting local prices.

Silver, though slightly down in the day’s trade on MCX, continued to remain at historically high levels in the physical market, tracking strength in industrial demand and global price momentum.

Market experts say investors are increasingly turning to gold as a hedge against volatility in equities and currency movements. The sustained rally is also being closely watched by jewellers and retail buyers, as high prices may influence demand ahead of the upcoming wedding and festive season.

Also Read: Sensex rises 560 points to 88,200, Nifty climbs to 25,580

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Mis-selling a crime under BNS, FM tells banks

Finance Minister Nirmala Sitharaman has warned banks and financial institutions that mis-selling financial products is now a punishable offence under the Bharatiya Nyaya Sanhita, and asked them to return their focus to core banking activities instead of aggressively cross-selling third-party offerings.

Speaking at a meeting with bank chiefs, Sitharaman said customers must not be forced or misled into buying insurance, mutual funds or other investment products that do not match their needs. She stressed that such practices erode public trust in the banking system and will invite legal consequences under the new criminal law framework.

The minister made it clear that banks exist primarily to mobilise deposits and provide credit, and that these fundamental functions should not take a back seat to fee-based income from distribution of financial products. She urged lenders to strengthen their due diligence and ensure that products are sold only after proper assessment of a customer’s risk profile and financial goals.

The government’s message comes amid rising complaints from customers who say they were pressured into purchasing policies or investment schemes while availing loans or opening accounts. Officials noted that mis-selling not only harms consumers but also exposes banks to reputational and regulatory risks.

Sitharaman also asked bank managements to improve internal training and accountability so that frontline staff do not prioritise sales targets over customer interest. Senior executives were told to closely monitor sales practices and put in place transparent grievance redressal mechanisms.

The finance minister further emphasised the need for responsible growth in the financial sector, calling on banks to support productive sectors of the economy, improve credit flow and maintain strong asset quality.

Also Read: Gurugram tops Mumbai with ₹24,000 cr ultra-luxury home sales

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Gurugram tops Mumbai with ₹24,000 cr ultra-luxury home sales

Gurugram has overtaken Mumbai to become India’s largest market for ultra-luxury homes, signalling a major shift in the country’s high-end property landscape. Homes priced at ₹10 crore and above saw record sales in the NCR city in 2025, both in terms of value and the number of units sold.

According to a recent industry report, Gurugram registered sales of around 1,494 ultra-luxury homes worth more than ₹24,000 crore during the year. This pushed it ahead of Mumbai, which has traditionally dominated the premium housing segment. The sharp rise highlights growing demand for spacious, high-end homes among wealthy buyers, including top executives, entrepreneurs and non-resident Indians.

Real estate experts say the trend is being driven by several factors. Gurugram offers larger apartments and villas, modern gated communities, and newer projects with luxury amenities. Compared to Mumbai, buyers also get more space at a relatively lower price per square foot. Improved infrastructure, proximity to Delhi, and the presence of major corporate offices have further boosted the city’s appeal.

Developers have responded with branded residences, penthouses and high-rise luxury projects, many of which were sold even before completion. Strong interest from NRI investors and high-income professionals has helped maintain steady demand despite high property prices.

Mumbai, while moving to second place, continues to see strong traction in its premium micro-markets such as South Mumbai and parts of the western suburbs. However, limited land availability and higher costs have made large luxury developments more challenging compared to Gurugram.

The report notes that the overall ultra-luxury housing segment in India is expanding rapidly, reflecting rising wealth and a post-pandemic preference for bigger, more exclusive homes.

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Fraud proceedings against Anil Ambani get Bombay HC nod

The Bombay High Court has cleared the way for banks to move ahead with fraud proceedings against industrialist Anil Ambani in connection with loans taken by Reliance Communications (RCom), delivering a significant setback to the businessman.

In its ruling, the court rejected Ambani’s plea that sought to stop lenders from acting on the fraud classification of the loan account. The bench held that there was no valid reason to interfere at this stage and allowed the banks to continue their action in accordance with the law.

The case relates to loans extended to Reliance Communications, which later turned into non-performing assets. Banks had classified the account as “fraud” under the Reserve Bank of India’s guidelines and initiated steps against the company’s former director, Anil Ambani. Challenging this, Ambani had approached the High Court, arguing that the classification was unfair and that he was not given a proper opportunity to present his side.

However, the court observed that the principles of natural justice had been followed and that Ambani had already been granted opportunities for a hearing. It said the legal process could not be stalled merely on apprehensions and that the appropriate forum for raising detailed objections would be during the proceedings before the concerned authorities.

With the High Court refusing to grant relief, lenders are now free to continue with measures linked to the fraud tag, which could include further investigations and recovery actions as per regulatory norms.

The ruling is important because a fraud classification carries serious consequences, including restrictions on raising finance and potential legal action against the individuals involved.

Reliance Communications, once a major telecom player, has been undergoing insolvency proceedings after defaulting on massive debt. The latest court order adds another layer to the legal challenges faced by Anil Ambani, who has been contesting multiple claims from lenders over the past few years.

Also Read: EVs may lose zero-emission tag under CAFE-III

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EVs may lose zero-emission tag under CAFE-III

Electric vehicles in India may no longer be treated as “zero-emission” under the upcoming Corporate Average Fuel Efficiency (CAFE-III) norms, as the government considers a new method to measure their environmental impact.

At present, EVs are classified as zero-emission because they do not produce exhaust fumes. However, officials are now discussing whether they should be evaluated based on how much energy they consume and how that electricity is generated. This means emissions from power production used to charge EVs could also be taken into account.

The issue has reached the Prime Minister’s Office, which has stepped in to review the proposal after differences emerged between government departments and concerns were raised by the auto industry.

The new CAFE-III norms, expected to be implemented from 2027, will set stricter fuel-efficiency and carbon-emission targets for passenger vehicles. The aim is to push carmakers to improve overall efficiency across their vehicle fleets.

Some officials believe removing the zero-emission tag will create a fair and technology-neutral system that rewards real efficiency, whether the vehicle runs on petrol, diesel, hybrid or electric power. Others worry that such a move could slow down EV adoption by weakening the strong policy support the sector currently enjoys.

Automakers are also seeking clarity, as any major change in the rules could affect their future investments and product plans in the fast-growing electric-vehicle market.

The government is now looking for a balanced approach that supports India’s clean-mobility goals while ensuring the new norms are based on a more realistic assessment of emissions.

If the proposal is approved, EV makers will have to focus not only on selling electric cars but also on improving their energy efficiency.

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Gold up at ₹1.61 lakh, Silver tops ₹3 lakh

Gold prices moved up slightly in the domestic market on Monday, while silver also recorded a notable increase, tracking firm global trends and continued investor demand for safe-haven assets.

According to market data, gold climbed by about ₹10 to ₹1,61,360 per 10 grams in the national capital. In the previous session, the precious metal had closed at ₹1,61,350 per 10 grams.

Silver prices rose by ₹100 to ₹3,00,100 per kilogram, compared with the earlier close of ₹3,00,000 per kg.

In the futures market on the Multi Commodity Exchange (MCX), both metals showed a positive trend due to fresh buying by traders. Analysts said the rise was mainly supported by global factors, including firm international prices and steady demand for bullion as a hedge against economic uncertainty.

In the international market, gold traded higher, while silver also gained, reflecting strong investor interest. A weaker dollar and concerns over global economic conditions further supported the uptrend in precious metals.

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₹5.16 cr toll refund for Mumbai–Pune Expressway motorists

Around one lakh motorists stranded in the massive traffic jam on the Mumbai–Pune Expressway earlier this month will receive a total toll refund of ₹5.16 crore, the Maharashtra State Road Development Corporation (MSRDC) has said. The amount will be credited directly to the FASTag accounts of the affected commuters.

The unprecedented congestion was caused on February 3 after a gas tanker overturned near the Khopoli stretch, severely disrupting traffic movement on one of the country’s busiest highways. The accident led to a standstill that lasted for nearly 33 hours, with vehicles stuck in long queues for several kilometres. Thousands of passengers, including families and elderly travellers, were left stranded on the road without access to food, water or medical help for hours.

Authorities had ordered the suspension of toll collection soon after the scale of the disruption became clear. However, toll charges continued to be deducted automatically from several FASTag accounts before the system was fully halted. Following complaints from commuters, MSRDC reviewed the transactions and decided to refund the entire amount collected during the period of the traffic blockade.

Officials said detailed FASTag data is being examined to identify every vehicle that was charged despite the toll suspension. The refund will apply to toll collected at both ends of the expressway during the disruption. The toll operator has been directed to complete the reconciliation process and ensure the money is returned to commuters at the earliest.

The Mumbai–Pune Expressway is a crucial link between the two cities and handles heavy daily traffic. The incident triggered public anger over the toll collection during a prolonged highway closure. The refund decision is expected to provide relief to affected motorists and address concerns over automated toll deductions during emergencies.

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AI Meet strengthens India’s tech leadership pitch

In a strong signal that artificial intelligence is becoming central to the global economic order, Prime Minister Narendra Modi has positioned the AI Impact Summit in New Delhi as a springboard for India’s next wave of technology-led growth.

Speaking during Mann Ki Baat, Modi said the adoption of the New Delhi Declaration by more than 80 countries reflects growing international confidence in India as a hub for AI innovation, investment and scalable digital solutions. The summit brought together global technology companies, policymakers, investors and startups, reinforcing India’s role in the evolving global AI value chain.

The event showcased the country’s digital public infrastructure, large skilled workforce and cost-efficient innovation ecosystem, key factors attracting multinational firms and venture capital into the AI space. According to the Prime Minister, this convergence of policy support, talent and infrastructure is opening new business opportunities across sectors.

India unveiled several indigenous AI models and enterprise-focused applications in healthcare, agriculture, education and governance, highlighting their commercial potential and export readiness. These developments are expected to improve productivity, enable new service models and create markets for AI-driven platforms.

The New Delhi Declaration provides a broad framework for trusted and inclusive AI adoption, which industry experts believe will ease cross-border collaborations, encourage regulatory coherence and unlock innovation funding. This is likely to help companies scale operations across multiple geographies with greater certainty.

He emphasised that India’s startup ecosystem and youth-led research will be crucial in capturing a larger share of the global AI economy. He added that affordable and ethical AI solutions developed in India can meet the needs of both advanced and emerging markets.

With increased investments in data centres, semiconductor ecosystems and digital infrastructure, the summit is being viewed as a catalyst for job creation, capital inflows and technology exports. He said the global appreciation received at the event underscores India’s transition from a technology consumer to a leading producer of AI solutions with long-term economic impact.

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Gold slips to ₹1.59 lakh, silver at ₹2.74 lakh

Gold prices in the domestic bullion market slipped marginally on Monday, tracking subdued local demand even as international rates moved sharply higher on fresh global uncertainties. The price of 24-carat gold fell by ₹10 to ₹1,59,270 per 10 grams, while silver declined by ₹100 to ₹2,74,900 per kilogram in early trade.

The 22-carat variant also witnessed a similar drop, easing to ₹1,45,990 per 10 grams. Across major metros, gold prices remained largely aligned, with Mumbai and Kolkata quoting 24-carat gold at ₹1,59,270, while Chennai continued to trade at a premium. Silver prices were mostly uniform across key cities, though Chennai again recorded higher levels.

The mild correction in domestic retail prices comes at a time when global bullion is witnessing strong buying interest. In international markets, gold climbed close to the $5,200-per-ounce mark, supported by a rush towards safe-haven assets after the US Supreme Court struck down sweeping tariff measures. The development has created uncertainty around future trade policy and boosted investor appetite for precious metals.

Silver outperformed gold in global trade, jumping nearly 5%, aided by a combination of safe-haven demand and optimism around its industrial consumption outlook.

Market participants said the divergence between local and global prices reflects currency movements, import cost dynamics and the timing of domestic price adjustments rather than a change in the broader trend. The underlying sentiment for bullion continues to remain positive due to geopolitical risks and trade-related volatility.

However, analysts advise investors to avoid aggressive buying at current elevated levels. With prices near record highs, a staggered buying strategy on corrections is seen as a more prudent approach for long-term investors.

Going ahead, the direction of gold and silver will largely depend on the movement of the US dollar, clarity on trade policy and global risk sentiment, while domestic prices will also be influenced by rupee trends and physical demand conditions.

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PhonePe lets users pay via fingerprint or face ID

PhonePe has introduced a new biometric UPI payment feature, allowing users to complete transactions using their smartphone’s fingerprint scanner or facial recognition instead of entering a UPI PIN. The move aims to make digital payments quicker, safer, and more convenient for everyday transactions.

With this update, users can authorise payments up to ₹5,000 simply by verifying their identity through biometrics. For transactions above this limit, the traditional UPI PIN will still be required, ensuring additional security for higher‑value payments.

The new feature addresses common issues in daily digital transactions, such as mistyped PINs or delays when entering PINs in crowded or busy places. Biometric verification also reduces the risk of PIN exposure, enhancing security in public settings.

Currently, the feature is available for Android users whose devices support fingerprint or face recognition. PhonePe plans to roll out the service for iOS users soon. To enable biometric payments, users need to go to Profile → Manage Payments → Biometric Pay in the PhonePe app and complete a one‑time setup with their UPI PIN and biometric verification.

According to PhonePe officials, the feature combines convenience and security, making small-value transactions faster while retaining safety protocols. In cases where biometric authentication fails, such as poor lighting or sensor issues, users can always revert to entering their UPI PIN manually.

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