IBTimes

The price of 10 grams of 24-carat gold was at Rs 1,47,218 on Friday, down from Rs 1,56,436 seen on Monday, according to data published by the India Bullion and Jewellers Association (IBJA).

New rules aim to simplify procedures while strengthening transparency, compliance, and reporting standards. A key change relates to house rent allowance (HRA). While exemption limits remain unchanged50% of salary for metro cities and 40% for non-metrostaxpayers must now disclose their relationship with landlords.

Flipkart CFO Sriram Venkataraman has resigned after over a decade, just ahead of the company's planned India IPO. He will assist during the transition period. Ravi Iyer will take interim charge, while leadership changes signal restructuring as Flipkart prepares for its next growth phase.

At the interbank foreign exchange, the local unit opened at 92.92 against the greenback before breaching the 93-mark for the first time to trade at 93.08.

RBI data shows that gold loans more than doubled in a year, reaching Rs 4 trillion in January from Rs 1.75 trillion a year earlier. Experts, however, estimate the actual market size to be around Rs 14 trillion, considering lending by NBFCs, which account for nearly half of the sector.

The RBI confirmed that the bank is well-capitalised, has sufficient liquidity, and continues to be managed by a professional board and competent leadership. It also approved a temporary transition arrangement, appointing Keki Mistry as interim part-time chairman for three months starting March 19.

The Indian rupee weakened to a record low of 92.63 against the US dollar, surpassing its previous all-time low amid ongoing Middle East tensions. Elevated oil prices driven by the conflict have increased import costs, triggered capital outflows, and heightened macroeconomic risks for India

Gold and silver prices rose on Tuesday ahead of the US Federal Reserve's two-day policy meeting starting March 17. On the MCX, gold futures (April 2) traded at Rs 1,57,145 per 10 grams, up Rs 1,409 (1%), while silver futures (May 5) climbed 2.4% to Rs 2,62,899 per kg.

The clarification came after reports suggested the sale might be scrapped due to low price bids, which had led to a sharp fall in the bank's shares. The bank said the disinvestment is being conducted through a competitive bidding process and that it has no role in negotiations.