Category: Beyond

Categories
Beyond

EPFO retains 8.25% interest, credit due this month

The Centre has formally approved an 8.25 per cent interest rate on Employees’ Provident Fund (EPF) deposits for the financial year 2025-26, bringing welcome news for over seven crore EPFO subscribers across the country. The approval clears the way for the Employees’ Provident Fund Organisation (EPFO) to begin crediting interest into members’ accounts, with the process expected to start later this month.

The interest rate remains unchanged from the previous two financial years, marking the third consecutive year that EPF savings will earn 8.25 per cent. While the rate has been retained, the official approval from the Finance Ministry was necessary before the annual interest could be deposited into subscribers’ accounts.

For millions of salaried employees, the annual EPF interest credit is a significant addition to their retirement corpus. Many subscribers closely track the announcement every year as it directly impacts long-term savings and future financial security.

According to officials, the Finance Ministry has completed its vetting of the proposal, enabling EPFO to proceed with the credit process. Under the organisation’s upgraded digital ecosystem, interest is expected to be reflected in members’ accounts more efficiently than in previous years.

Subscribers need not worry if the interest does not appear immediately in their passbooks. EPFO calculates interest for the entire financial year, and any delay in updating account statements does not result in a loss of earnings. The credited amount remains payable with effect from the relevant financial year once the process is completed.

Members can check whether the interest has been credited through the EPFO portal, the UMANG application, or other official EPFO services. As the crediting exercise begins, millions of employees are expected to see their retirement savings grow further, offering a timely boost to household finances and long-term wealth creation.

Also Read: Gold eases to ₹1,49,500, silver at ₹2,59,900

Categories
Beyond

Gold eases to ₹1,49,500, silver at ₹2,59,900

Gold prices edged lower in the national capital on Friday, while silver also witnessed a decline amid subdued demand and mixed global cues.

According to the All India Sarafa Association, gold of 99.9 per cent purity slipped ₹10 to ₹1,49,500 per 10 grams. Gold of 99.5 per cent purity also declined ₹10 to ₹1,48,800 per 10 grams.

Silver prices fell by ₹100 to ₹2,59,900 per kilogram, extending losses from the previous session. Traders attributed the marginal decline to profit-booking and cautious sentiment in the bullion market.

Despite the slight correction, gold continues to trade near record levels, reflecting strong investor interest in safe-haven assets. Market participants remain focused on global economic indicators, inflation trends and central bank policy signals, which continue to influence bullion prices.

Jewellers said consumer demand has remained steady, particularly from households purchasing gold for weddings, festive occasions and long-term savings. However, elevated prices have prompted some buyers to postpone large purchases in anticipation of a correction.

Silver, which is influenced by both investment demand and industrial consumption, has also remained volatile in recent weeks. Market experts expect prices of both metals to remain sensitive to developments in international markets, currency movements and economic data releases.

For many Indian households, gold continues to be viewed as a dependable store of value and a traditional investment avenue. Even as prices fluctuate, the yellow metal remains a preferred choice for preserving wealth during uncertain times.

With global markets closely watching economic and geopolitical developments, bullion traders expect gold and silver prices to witness further movement in the coming weeks, keeping investors and consumers attentive to daily price trends.

Analysts noted that gold has remained resilient despite easing geopolitical tensions in parts of West Asia. Concerns over global economic growth and uncertainty surrounding interest rate trajectories have continued to support demand for the precious metal.

Also Read: Sensex slides 750 points, Nifty below 24,000

Categories
Beyond

India secures key gains in landmark UK trade deal

India has secured significant benefits under its free trade agreement (FTA) with the United Kingdom, providing a boost to both exporters and professionals working overseas.

One of the biggest gains is for the steel sector. Under the agreement, about 85% of India’s steel exports to the UK will remain exempt from Britain’s upcoming safeguard measures, protecting Indian shipments from restrictive trade actions planned by London. This removes a major hurdle that had threatened the smooth implementation of the trade pact.

The deal also delivers relief for thousands of Indian professionals working in the UK. The two countries have agreed to extend social security contribution exemptions from three years to five years for employees temporarily posted abroad. This means eligible workers and employers will avoid making dual social security payments in both countries during the exemption period.

Government officials estimate that 90-95% of Indian professionals sent to the UK by Indian companies could benefit from the arrangement, reducing costs for both employees and businesses.

The India-UK FTA is scheduled to come into effect on July 15 and is expected to strengthen trade, investment and workforce mobility between the two countries. The agreement is also expected to create new opportunities across sectors including manufacturing, services and technology.

Trade experts say the latest concessions address two of India’s key concerns during negotiations. By securing market access for steel exports and easing social security burdens on professionals, the agreement is expected to enhance India’s competitiveness in the UK market while supporting businesses operating across both countries.

The deal marks another step in deepening economic ties between India and the UK, with both nations aiming to expand bilateral trade and investment in the coming years.

Also Read: Jio plans 1,650 satellites to expand broadband reach

Categories
Beyond

RBI settles Apollo FEMA case after ₹17.76 cr payment

Apollo Hospitals has received relief from the Reserve Bank of India (RBI) after the central bank settled alleged violations under the Foreign Exchange Management Act (FEMA) through a compounding process.

The RBI accepted a payment of ₹17.76 crore from Apollo Hospitals and certain directors to resolve the matter, bringing an end to a long-running regulatory issue related to foreign exchange transactions. Compounding is a mechanism that allows entities to settle FEMA violations by paying a monetary amount without undergoing prolonged legal proceedings.

The case was linked to alleged contraventions involving overseas investments and related transactions. Following the settlement, the Enforcement Directorate’s earlier proceedings connected to the matter are expected to lose significance, providing a major relief to the healthcare company and its management.

Apollo Hospitals informed stock exchanges that the RBI’s compounding order does not amount to an admission of guilt. The company stated that the settlement was made to resolve the issue and ensure regulatory compliance going forward.

The development removes a key overhang that had been hanging over the company for several years. Market participants generally view the resolution positively, as it reduces uncertainty and allows management to focus on business operations and expansion plans.

Founded by Dr. Prathap C. Reddy, Apollo Hospitals is one of India’s largest healthcare providers, with a network of hospitals, pharmacies and diagnostic centres across the country. The group has played a significant role in expanding private healthcare services in India.

Legal and regulatory experts noted that compounding provisions under FEMA are designed to encourage voluntary compliance and provide a quicker resolution mechanism for procedural and technical violations. Such settlements help avoid lengthy litigation while ensuring adherence to foreign exchange regulations.

For investors, the RBI’s decision brings clarity on a matter that had remained unresolved for years. Analysts said the settlement strengthens visibility around the company’s regulatory position and removes a potential distraction for management.

With the issue now settled, Apollo Hospitals is expected to continue focusing on healthcare delivery, digital health initiatives and capacity expansion, while maintaining compliance with evolving regulatory requirements.

Also Read: Chennai hospital unveils advanced heart rhythm technology

Categories
Beyond

Apple may raise prices a memory costs surge

Apple could increase the prices of future iPhones and other devices as rising memory chip costs begin to put pressure on the company’s manufacturing expenses.

According to recent reports, the sharp growth in artificial intelligence (AI) applications has triggered an unprecedented demand for high-performance memory chips, particularly DRAM and advanced storage components. As technology companies race to build AI-powered products and data centres, supplies of these critical chips have become increasingly tight.

The shortage has led to higher prices for memory components, a key part of smartphones, laptops and tablets. Industry analysts believe Apple may eventually pass some of these additional costs on to consumers, especially if chip prices continue to climb in the coming months.

Apple Chief Executive Officer Tim Cook recently acknowledged that memory markets are becoming more challenging as AI adoption accelerates across industries. The company is closely monitoring supply conditions while working with suppliers to secure enough components for its upcoming products.

The growing popularity of AI-powered features is changing the technology landscape. New smartphones and computers require larger amounts of memory to handle advanced AI tools, voice assistants and on-device processing capabilities. This has increased competition for memory chips among technology firms worldwide.

Market experts say the situation could affect not only Apple but also other major electronics manufacturers. Companies producing smartphones, personal computers and AI servers are all competing for the same pool of advanced memory components, creating further pressure on supply chains.

Consumers may not see immediate price hikes, but analysts warn that future product launches could carry higher price tags if component costs remain elevated. Apple’s expected AI-focused devices, including next-generation iPhones and Mac computers, may be particularly affected because they require more powerful hardware to support advanced features.

For now, Apple continues to focus on securing supplies, but the global AI boom is increasingly reshaping the economics of the technology industry and the prices consumers ultimately pay.

Also Read: Gold slips to ₹1.51 lakh, silver at ₹2.64 lakh

Categories
Beyond

Gold slips to ₹1.51 lakh, silver at ₹2.64 lakh

Gold prices slipped marginally on Thursday, June 18, offering some respite to jewellery buyers after recent gains, while silver extended its losses amid weak global cues and cautious investor sentiment.

According to the latest market rates, 24-carat gold was priced at around ₹1,51,900 per 10 grams, while 22-carat gold traded near ₹1,39,150 per 10 grams. Silver was quoted at approximately ₹2,64,900 per kilogram in major retail markets across the country.

In Delhi, 24-carat gold was available at around ₹1,52,050 per 10 grams, while prices in Mumbai hovered near ₹1,52,200. Similar rates were reported in Kolkata, Chennai and Bengaluru, reflecting a broadly stable trend across key cities.

The decline in bullion prices comes as investors react to the US Federal Reserve’s latest policy stance. The central bank indicated that inflation risks remain and another interest rate hike could still be on the table later this year. Higher interest rates generally reduce the attractiveness of non-yielding assets such as gold and silver, leading some investors to shift funds elsewhere.

Silver witnessed a sharper correction than gold, with traders reporting continued selling pressure in commodity markets. Analysts said silver remains more volatile because it is influenced not only by investment demand but also by industrial consumption trends.

Despite the slight fall in prices, jewellers said customer enquiries remain steady. Many consumers are closely tracking market movements, hoping for further corrections before making purchases for weddings, festivals and long-term investments.

Market experts believe gold continues to enjoy support from global uncertainties, including geopolitical developments and concerns over economic growth. However, expectations of tighter monetary policy in the United States are limiting any major upside in prices.

Globally, precious metals also faced pressure as investors assessed the outlook for interest rates and inflation. At the same time, easing crude oil prices and reduced geopolitical tensions helped prevent a sharper decline in gold.

For now, bullion markets are expected to remain sensitive to global economic data, central bank decisions and currency movements.

Also Read: Sensex down 100 points, Nifty slips below 24,050

Categories
Beyond

Zerodha, Groww get nod to offer US stocks

Investing in leading US companies could soon become much easier for Indian retail investors. Major brokerage platforms Zerodha, Groww, Angel One and Upstox have received regulatory approval to offer international investing services through Gujarat’s GIFT City, paving the way for direct access to US stocks and global markets.

The approvals have been granted by the International Financial Services Centres Authority (IFSCA), the regulator overseeing GIFT City. The move is being seen as a significant step towards making global investing more accessible to Indian investors who are increasingly looking beyond domestic markets for diversification and growth opportunities.

According to reports, the new services are expected to be rolled out over the next two to three months after the brokerages complete technology integration, testing and compliance requirements.

Under the proposed framework, Zerodha and Upstox will operate as broker-dealers, while Groww and Angel One will function under the Global Access Provider (GAP) model introduced by GIFT City to facilitate overseas investments. The structure is designed to offer a regulated and cost-effective route for Indians to invest in international equities.

Demand for overseas investing has grown rapidly in recent years as Indian investors seek exposure to global themes such as artificial intelligence, semiconductors, electric vehicles and space technology. Interest has further increased following the listing of high-profile technology companies and growing enthusiasm for AI-driven investments.

Several platforms, including INDmoney, Smallcase and HDFC Securities, already offer access to international markets. However, the entry of India’s largest retail brokerages is expected to significantly expand participation and bring global investing to a much wider audience.

Also Read: Grasim, Lubrizol open CPVC resin plant in Gujarat

Categories
Beyond

Air India launches basic fare without complimentary meals

Air India has introduced a new “Basic” fare category on select domestic routes, allowing passengers to book tickets at lower prices by giving up complimentary meals and some other bundled services.

The move is aimed at offering travellers greater flexibility and more affordable travel options, particularly for short-duration flights where many passengers may not require meal services. The airline said the new fare will be available on select domestic routes and is designed for cost-conscious flyers looking for lower ticket prices.

Under the Basic fare, passengers will continue to receive standard cabin baggage and check-in baggage allowances, but complimentary meals will not be included. Travellers who wish to purchase food and beverages during the flight can do so separately. Other fare categories will continue to offer meal services as part of the ticket price.

The introduction of the new fare reflects a broader trend in the aviation industry, where airlines are increasingly unbundling services and allowing customers to pay only for the amenities they need. Low-cost carriers have long followed this model, and full-service airlines are now adopting similar strategies to cater to a wider range of travellers.

Air India said the new option is intended to give customers more choice rather than reduce services across the board. Passengers who value onboard meals and additional benefits can continue to select higher fare categories, while those focused on affordability can choose the lower-priced Basic fare.

For frequent flyers and business travellers, the change may have limited impact, as many continue to prefer fare categories that include added conveniences. However, budget-conscious passengers and those travelling on short routes could benefit from the lower entry-level fares.

This could help Air India compete more effectively in India’s highly competitive domestic aviation market, where price remains a key factor influencing booking decisions. The airline has been expanding its network and revamping customer offerings as part of its ongoing transformation programme under the Tata Group.

The launch signals Air India’s efforts to balance service quality with pricing flexibility as competition intensifies in the country’s rapidly growing aviation sector.

Also Read: Qatar prepares LNG export restart after Hormuz reopens

Categories
Beyond

Qatar prepares LNG export restart after Hormuz reopens

Qatar is preparing to swiftly restore its liquefied natural gas (LNG) production and exports once shipping traffic through the Strait of Hormuz returns to normal, offering a potential boost to global energy markets that have been rattled by regional tensions.

The Gulf nation, one of the world’s largest LNG exporters, has reportedly drawn up contingency plans to ramp up output and shipments immediately after the strategic waterway reopens fully. The Strait of Hormuz is a crucial maritime route through which a significant share of the world’s oil and gas exports passes, making any disruption a major concern for global energy supplies.

Recent instability in the region has heightened fears of supply shortages and pushed energy prices higher. European countries, which have increasingly relied on LNG imports following efforts to reduce dependence on Russian energy, have been closely monitoring developments in the Gulf.

Industry experts say Qatar’s ability to rapidly resume exports could help stabilise markets and ease concerns over fuel availability, particularly in Europe ahead of the winter stockpiling season. The country has invested heavily in expanding its LNG infrastructure and is considered one of the most reliable suppliers in the global gas market.

A quick restart of exports would also be welcomed by Asian buyers, including major importers such as China, Japan and South Korea, which depend on LNG shipments to meet energy demand. Any prolonged disruption in supplies could have forced buyers to seek alternative cargoes at higher prices.

Analysts believe the reopening of the Strait of Hormuz could trigger a correction in energy prices if supply concerns ease. However, they caution that market volatility may persist until there is greater certainty over regional security and uninterrupted shipping operations.

For Qatar, restoring LNG flows quickly is critical not only for maintaining its position in global energy markets but also for reassuring customers that supplies remain dependable despite geopolitical tensions.

As governments and energy traders continue to watch developments closely, Qatar’s readiness to rapidly restart exports is being viewed as a positive signal for global energy security and market stability.

Also Read: SpaceX acquires Anysphere for $60 bn after Nasdaq debut

Categories
Beyond

Gold slips below ₹1.52 lakh , silver falls to ₹2,64,900

Gold prices eased on Wednesday as investors remained cautious ahead of the US Federal Reserve’s monetary policy decision. According to market data, 24-carat gold was trading near ₹1.52 lakh per 10 grams across major cities, while 22-carat gold hovered around ₹1.40 lakh per 10 grams. Silver prices also remained under pressure, falling by about ₹100 per kg to trade at ₹2,64,900 per kg, marking a second consecutive day of losses.

In major cities such as Delhi, Mumbai, Chennai and Kolkata, gold prices remained largely stable within the ₹1.51 lakh-₹1.53 lakh range. Jewellers said retail demand has moderated after prices surged to record levels earlier this month, prompting many buyers to postpone purchases in anticipation of a correction.

The decline comes after a strong rally in precious metals over recent months, driven by geopolitical uncertainties, expectations of lower interest rates and steady purchases by central banks. However, investors have turned cautious ahead of the Fed’s policy statement, which is expected to provide direction to global commodity markets.

Silver, which has witnessed sharp swings in recent weeks, also faced selling pressure. Despite the latest decline, experts believe the metal’s long-term outlook remains positive due to robust industrial demand from sectors such as renewable energy, electronics and electric vehicles.

On Tuesday, gold was priced at ₹1,51,360 per 10 grams, while silver stood at ₹2,64,900 per kg. The recovery was driven by cautious buying ahead of the US Federal Reserve’s policy announcement. However, traders largely remained on the sidelines, awaiting fresh cues on the interest-rate outlook.

Market analysts noted that gold continues to enjoy strong support from safe-haven demand amid global economic uncertainties. However, near-term price movements are likely to depend on the Fed’s commentary regarding future interest-rate cuts.

With global markets awaiting the Fed’s decision, traders expect both gold and silver to remain range-bound in the near term. Any major signal on interest rates could trigger fresh movement in bullion prices over the coming sessions.

Also Read: Sensex gains over 350 points, Nifty tops 24,050