The RBI today announced a reduction of 0.50 percent in the repo rate in its Monetary Policy Committee meeting. This is the third time the repo rate has been cut. At present, the repo rate has reached the rate of 5.5 percent.
After this, according to the information given by the stockists today, silver prices in the country’s capital Delhi have increased by Rs 3000 and with this the price of silver has increased to a new record of Rs 1,07,100 per kg.
According to the All India Bullion Association, silver prices have risen by Rs 2000 in local markets on Thursday and with this silver price has reached Rs 1,04,100 per kg. Today, the price of 24 carat gold in domestic markets has been Rs 99,750 per 10 grams. Also, the price of 22 carat gold has been Rs 91,450 per 10 grams.
Traders have said that along with the increase in local demand, the silver price has been seen to increase due to global effects. In the month of July, the highest -trading silver has increased from Rs 1622 to a new record of Rs 1,06,065 per kg. Also, the September delivery contract on the Multi Commodity Exchange i.e. MCX has risen at Rs 1,650 to a high level of Rs 1,07,130 per kg.
RBI Governor’s statement, said- There is no idea on increasing the limit of foreign ownership in banks
The government has taken a necessary step towards giving relief to those taking small loans. Recently, RBI Governor Sanjay Malhotra has informed during the press conference that now the rules of Loan to be taken in lieu of gold have been changed. Under the new provisions, there will be more benefit on gold loans of Rs 2.5 lakh. Those taking loans up to this limit can get a maximum maximum of their mortgaged gold as an amount of 85 percent. The special thing is that this 85 percent interest rate will also be included, due to which the lenders are not going to put additional financial burden.
