The Reserve Bank of India's gold reserves rose 13.21 tonnes to 866.85 tonnes as of Oct. 25, data from the central bank's bulletin released on Wednesday showed. So far this calendar year, the RBI has added 63.27 tonnes of the precious metal to its treasury.Register to read
Leakage of grains, supplied by Food Corp. of India to over 813 million people, under the public distribution system results in a loss of approximately INR 691.08 billion, according to the study, "Rationalising Public Distribution System in India", released by policy advocacy group Indian Council for Research on International Economic Relations. The study, authored by Raya Das, Ranjana Roy and Ashok Gulati, quoted the Household Consumption Expenditure Survey for 2022-23 and said 28% of the allocated grains, amounting to approximately 20 million tonnes of rice and wheat, failed to reach the intended recipients. Register to read
Demand for gold is likely to rise due to the recent correction in price of the precious metal and amid the wedding season from November to March, said Kavita Chacko, World Gold Council research head (India), in a report Monday. The bullish sentiment in gold is likely to sustain investment interest amid ongoing volatility in equity market, she added.Register to read
In the 2024-25 (Oct-Sept) season, India's sugar mills have produced 710,000 tonnes of the sweetener as of Friday, down 44% on year from 1.27 million tonnes in the same period a year ago, according to data from the National Federation of Cooperative Sugar Factories. The federation estimates net sugar production across the country in 2024-25 at 28 million tonnes, down 12% from 31.9 million tonnes produced last season.Register to read