Gold, silver prices tumble on weak global cues

June 20, 2013

Gold_silver_pricesNew Delhi, Jun 20: Both the precious metals, gold and silver tumbled in the national capital on Thursday on heavy sell-off by stockists, triggered by a weak trend in overseas markets.

While gold fell by Rs. 400 to Rs. 28,000 per ten grams, silver plunged by Rs. 1,500 to Rs. 43,100 per kg on poor offtake.

Traders said sentiment dampened after gold fell to the lowest in more than 2.5 years after U.S. Federal Reserve Chairman Ben S Bernanke said asset purchases may be reduced later this year as the U.S. economy recovers.

However, marketmen said, weakening rupee, which made imports costlier, cushioned the fall to some extent.

Meanwhile, rupee after touching life-time low of 60 against the dollar, was trading at 59.77, still down by 107 paise over its on Wednesday’s close of 58.70.

Gold in London, which normally sets price trend on the domestic front, dropped by 3.4 per cent to $ 1,304.75 an ounce, its lowest since September 30, 2010. Silver fell by 6.2 per cent to $ 20.08 an ounce, the cheapest since September 14, 2010.

On the domestic front, gold of 99.9 and 99.5 per cent purity plummeted by Rs. 400 each to Rs. 28,000 and Rs 27,800 per ten grams, respectively.

The yellow metal had lost Rs. 80 on Wednesday. Sovereign followed suit and declined by Rs. 200 to Rs. 24,200 per piece of eight gram.

In a similar fashion, silver ready dropped by a whopping Rs. 1,500 to Rs. 43,100 per kg and weekly-based delivery by Rs. 1,280 to Rs. 42,450 per kg. Silver coins also nosedived by Rs. 2,000 to Rs. 78,000 for buying and Rs. 79,000 for selling of 100 pieces.

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News Network
January 3,2020

New Delhi, Jan 3: The National Payments Corporation of India (NPCI) on Thursday said the homegrown payments technology RuPay will offer 40 per cent cashback for its international card users for transactions in select countries.

Indians travelling to the UAE, Singapore, Sri Lanka, the UK, the US, Spain, Switzerland and Thailand will be able to earn up to Rs 16,000 cashback per month by getting their RuPay International Card activated, the NPCI said in a release.

With RuPay International cards --JCB, Discover and Diners Club--customers using multiple cards can earn more cashbacks under the 'RuPay Travel Tales' campaign.

To avail the cashback benefit, customers will have to do a minimum transaction of Rs 1000 and the maximum cashback is capped at Rs 4,000 for a single transaction.

The offer can be availed by customers using RuPay International Card four times a month that can give them a chance of earning up to Rs 16,000 as cashback.

Praveena Rai, COO, NPCI said, "We always aim to create an end-to-end value proposition for RuPay International cardholders to make their overseas travel experience seamless and memorable. The campaign is not only providing an exciting platform for travelers to earn cashbacks but also motivating them to migrate towards digital transactions nationally and globally".

Apart from earning cashbacks, RuPay International cardholders can access to RuPay affiliated domestic/international airport lounges.

They also can avail attractive offers on booking international fights and hotels in association with Thomas Cook and Make My Trip, the release said.

RuPay has a partnership with Discover Financial Services (DFS) and Japan based JCB International, allowing RuPay users the access to across 190 countries.

As on date, there are over 1,100 banks live on RuPay platform including SBI, HDFC Bank, Axis bank, among others.

RuPay card base has crossed 600 million, half of which are in the mid and premium segments, NCPI said.

NPCI was incorporated in 2008 as an umbrella organization for operating retail payments and settlement systems in India. An initiative of RBI and IBA under the provisions of the Payment and Settlement Systems Act, 2007, NPCI was initiated for creating a robust payment and settlement infrastructure in the country.

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March 20,2020

New Delhi, Mar 20: The government on Thursday said one Indian who tested positive for coronavirus has died in Iran while the other citizens infected with the disease are being provided treatment and taken care of by the Iranian government.

Noting that the virus tends to be more fatal for those whose immunity levels are low, a senior MEA official said the deceased, an elderly person, belonged to the vulnerable age group and had health-related complications.

The death was not because of lack of medical attention or care, he said.

"We have evacuated 590 people from Iran where the situation is very severe. The Indians infected with coronavirus in Iran have been segregated and taken care of very well by the government there. We believe they will recover and we will bring them back," the MEA official said, adding that 201 Indians were evacuated from Iran on Wednesday.

The official said closely knit families required some persuasion and counselling during the process of segregation to prevent the spread of the contagion.

The Indian ambassador and other officials explained the consequences of infected people not being separated from their families and were successful to a large extent in segregating the positive cases from the negative ones, he said.

"Some pilgrims and students are still there and our embassy and mission are in control (of the situation)," the official said.

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January 17,2020

New Delhi, Jan 17: Airports in Srinagar and Jammu are to be “immediately” brought under the security cover of the CISF in view of the arrest of DSP Davinder Singh, a Jammu and Kashmir government order has said.

The two sensitive airports are to be “handed over” to the CISF by January 31, the order of the Jammu and Kashmir Home Department to the Director General of Police (DGP) said.

“This issue (CISF security at Srinagar and Jammu airports) has acquired immediacy in view of the recent developments relating to the arrest of Davinder Singh, DSP airport security, for trying to assist militants to travel to other parts of the country,” the order issued on Wednesday said.

Police had arrested Singh, a deputy superintendent of police, at Mir Bazar in Jammu and Kashmir’s Kulgam district on Saturday, along with Hizbul Mujahideen terrorists Naveed Baba and Altaf, besides a lawyer who was operating as an overground worker for terror outfits.

The two airports are guarded by the CRPF and the J-K Police at present.

The Union government had last year decided that the Central Industrial Security Force (CISF) will be handed over security of these two airports along with the one in Leh in view of their sensitive and strategic location and the threats it faced related to possible terrorist and hijack attempts.

CISF is the national civil aviation security force and at present it guards 61 airports including the ones at Delhi and Mumbai.

News agency had on January 13 reported that the Union home ministry sanctioned about 800 personnel to the CISF in order to take over security duties at the three airports of the newly created Union Territories of Jammu and Kashmir and Ladakh.

As per the original plan, the CISF was to take over Jammu airport by next month and the Srinagar and Leh airports after the spell of severe cold ends.

However, officials said, keeping in mind the arrest of the DSP and his alleged links, the latest order has been issued which also directs the J-K Police to make arrangements for accommodation, transport and other logistical requirements of the armed contingent of the CISF on a quick basis.

Once inducted at the most-sensitive Srinagar airport, the CISF will secure access control at both city and air side (tarmac area) while the CRPF will be responsible for securing the outer periphery. At the Jammu airport, the peripheral security duties will be rendered by the JK Police.

An assortment of surveillance and security gadgets like CCTVs, observation monitors, hand-held metal detectors, bullet-proof patrol vehicles and bomb detection and disposal equipment are also being provided by the airport operator, the Airports Authority of India (AAI), to the CISF.

The Union government sometime back made it clear that CISF will be the only civil airports guarding force and all such facilities in the country will be gradually brought under its command to bolster aviation security and tighten anti-terror and anti-hijack protocols.

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