Gold rates in Hyderabad today surges, check the rates on 18 July, 2025
While the Silver rate is at Rs. 1,23,900 per kilogram.
The gold rates in the international market have been fluctuating. Over the past few weeks gold rates have experienced a fall during the wedding season, fluctuating around Rs. 90,000 for 10 grams of 24-carat gold and approximately Rs. 1,00,000 for 10 grams of 22-carat gold.
The gold prices mentioned here are due at 8am, the prices could alter at every moment and hence the gold buyers need to track the live prices at a given time. The mentioned prices here are closing prices of yesterday while today's price would begin either with a decrease or increase.
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Indian Express
20 minutes ago
- Indian Express
RBI's record banking system fund infusion is not boosting loan growth
The Reserve Bank of India (RBI) began pumping money into the banking system in December 2024, while the Monetary Policy Committee (MPC) started cutting interest rates in February. However, the MPC's 100 basis points (bps) of rate cuts and the lakhs of crores of money provided by the RBI to the banking system has had little impact on demand for loans. In fact, credit growth has almost halved from the middle of 2024. And economists think loan growth may fall further in the coming months. According to data released on June 30 by the RBI, non-food credit extended by Indian banks was up 9.8 per cent year-on-year (YoY) as at the end of May, down from 11.2 per cent in April and 16.2 per cent a year ago, after excluding for the impact of the merger of HDFC Bank with Housing Development Finance Corporation in July 2023. The sector-wise breakdown makes for similar reading. Take loans to industry, for instance, which showed a growth of just 4.9 per cent YoY at the end of May, down from 6.7 per cent in April and 8.9 per cent a year ago. At the same time, the amount of money the RBI has pushed into the banking system has ballooned. It first cut banks' Cash Reserve Ratio (CRR) by 50 bps in December 2024, after which — through a variety of instruments, such as purchases of government bonds — the Indian central bank added nearly Rs 10 lakh crore into a system that was tight on cash starting the second half of 2024 due to tax outflows and the RBI's own operations in the foreign exchange market. And while the rupee stabilised before the RBI loosened its grip somewhat in 2025, demand for bank loans has continued to weaken even as borrowing costs have fallen. According to RBI data, new bank loans were around 20 bps cheaper in May compared to a year ago. Wasted liquidity surplus? According to J.P. Morgan economists, the continued addition of liquidity into the banking system by the RBI is a futile attempt to bring down lending rates of banks — beyond a point. In a note published earlier this month, the investment bank's economists said 'there is no evidence that liquidity 'causes' credit or deposit growth. If anything, the causality is reversed, with credit driving liquidity growth, through the deposit and Cash Reserve Ratio channel.' As per its analysis, J.P. Morgan found that the entire impact on banks' lending rates from changes in banking system liquidity is because of movements in the interest rate at which banks lend to each other — the 'call rate'. As such, once the call rate declines to a certain level, there is no incremental benefit in terms of a further decline in banks' lending rates from the provision of additional liquidity by the RBI. The central bank, seemingly, has taken note of this too, and in recent days looked to suck out the excess money it has pumped into the banking system. Since June 27, the central bank has removed almost Rs 7 lakh crore. However, given the temporary nature of these operations, much of these removed funds are already back with banks. But even before the RBI began conducting these temporary operations — called variable rate reverse repos — to drain out excess money, banks were already keeping them at a central bank facility in return for a fixed rate of interest of 5.25 per cent. However, the amount banks were choosing to keep at this so-called Standing Deposit Facility has more than quadrupled in the last one year — from a daily average of Rs 58,817 crore in June 2024 to Rs 2.59 lakh crore in June 2025. Clearly, there are few takers for loans from banks. Will the weak loan growth continue? Weakness in demand for loans has been a concern for the MPC, which cut the policy repo rate by a larger-than-expected 50 bps to 5.5 per cent on June 6 to push banks to cut their lending rates faster. But this 'transmission' of policy rate cuts to lending rates of banks — which can take up to one year, although the RBI over the years has tried to make this process faster — depends on a variety of factors. According to Nomura economists Sonal Varma and Aurodeep Nandi, a faster and more complete transmission of changes to the policy repo rate requires not just excess money in the banking system but also a lower credit-deposit (CD) ratio, which is an indicator of the proportion of a bank's deposits sent out as loans. 'The periods of maximum pass-through of policy rate cuts have typically happened in periods when the credit-deposit ratio was much lower in the 70-74 per cent range,' Varma and Nandi said in a report on July 8, adding that the ratio was currently just below 80 per cent. According to them, the RBI's latest bank lending survey is indicative of moderating demand for loans, especially for retail and personal loans, while the global trade uncertainty coupled with rising imports from China is keeping industrial capacity utilisation subdued. As a result, Varma and Nandi see credit growth falling even further to 7-8 per cent by March 2026. Need for loan demand As RBI Governor Sanjay Malhotra noted on June 6, for banks to lower their lending rates, there needs to be demand for loans. And demand for loans depends on the macroeconomic conditions and appetite for credit. Clearly, the fact that the RBI has felt the need to inject so much money into the banking system and reduce the policy repo rate by 100 bps in a matter of months is a sign of weakness in macroeconomic conditions — even if the annual GDP growth rate is seen stable around 6.5 per cent. '…credit demand follows the momentum in economic activity and often continues to rise despite a rise in interest rates. The reverse is also empirically observed. If credit demand is moderate, a reduced interest rate may not boost it over the next 12-24 months. For any impact, it is critical to hold the rate steady for 18-24 months,' the Boston Consulting Group said in a report this month. Siddharth Upasani is a Deputy Associate Editor with The Indian Express. He reports primarily on data and the economy, looking for trends and changes in the former which paint a picture of the latter. Before The Indian Express, he worked at Moneycontrol and financial newswire Informist (previously called Cogencis). Outside of work, sports, fantasy football, and graphic novels keep him busy. ... Read More
Time of India
27 minutes ago
- Time of India
Adhik Ravichandran confirms his next film with Ajith Kumar after the success of 'Good Bad Ugly': 'It will be a different kind of film'
After delivering a major blockbuster with 'Good Bad Ugly' earlier this year, filmmaker Adhik Ravichandran has now officially confirmed that he will be directing Ajith Kumar 's upcoming project, tentatively titled 'AK64'. Following the success of Good Bad Ugly, which grossed over Rs 150 crore at the box office, fans have been eagerly requesting another collaboration between the actor-director duo. Adhik Opens Up on Second Collaboration with Ajith Ajith Kumar Faces Scary Crash Ahead of Dubai 24 Hours Race Speaking during a recent media interaction, Adhik finally revealed that he is indeed working on his next film with Ajith.'Yes, I'm doing the next film with Ajith Kumar sir. I'm very happy that I've got the opportunity to direct AK64. It will be a different kind of film from Good Bad Ugly and will be a treat for fans,' he added. Ajith Kumar to start shooting for his next movie in November Following the roaring success of 'Vidaamuyarchi' and 'Good Bad Ugly', Ajith Kumar is gearing up for another big-screen appearance. The actor recently shared an update about his filming schedule. In an earlier conversation with The Indian Express, Ajith mentioned his plans to begin shooting later this year. He stated, 'If I can squeeze in a film between the November to February period, I will then have a film release every year, and I can also focus on my racing programme. I will be starting to film a new project in November this year, which will hopefully be released sometime around April or May 2026.' Ajith is currently occupied with his racing commitments, with his most recent events being part of the GT4 European Series and the Creventic Series.
Time of India
32 minutes ago
- Time of India
‘Privatisation only way to mitigate Purvanchal, Dakshinanchal losses'
Amid growing protest over privatisation of power distribution companies in the state, Uttar Pradesh Power Corporation Limited chairman Ashish Kumar Goel has claimed that the corporation has decided to privatise Purvanchal and Dakshinanchal to overcome the dual challenge of mounting financial losses and operational inefficiencies in its power distribution network. This will help the corporation to bridge the staggering cash gap and pave the way for a sustainable energy future in UP, he said. In an exclusive interview with Arvind Chauhan, the UPPCL chairman said that privatisation is the only solution to mitigate the losses of Purvanchal and Dakshinanchal discoms and will benefit both consumers and the state. The Case for Privatisation The decision to privatise Purvanchal and Dakshinanchal has been taken after considering their dismal performance across technical, commercial, and financial metrics, said Goel. "These are the worst-performing discoms, leading to frequent transformers damage, tripping, poor billing quality, and low collection efficiency. Unlike better-performing regions like Noida or Lucknow, these discoms have consistently lagged and impacted UPPCL's overall financial health," Goel added. The numbers paint a grim picture. In 2024-25, UPPCL's cash gap—the difference between expenses and revenue—soared to Rs 48,515 crore, up from Rs 39,254 crore in 2023-24. Purvanchal and Dakshinanchal contributed the lion's share to this deficit. Over the past five years, expenses have grown at 8.3%, while revenue has lagged at 6.7%, leading to a cash gap increase of 12.4% annually. "This is an unsustainable model. We're in a debt trap, relying on state funds and loans to cover losses, only to repay them with interest the next year," he emphasised. Despite years of govt investment in infrastructure and loss of funding, the gap persists. About 15% of UP's non-committed budget—excluding salaries—is allocated to the energy sector, with 90% of that going toward subsidies and loss funding. This diverts funds from critical infrastructure development and welfare schemes. Privatization, Goel argued, would free up these resources for more productive uses, such as building schools, hospitals, or modernising the grid. Addressing Consumer and Employees' Concerns Consumers:Privatisation often sparks fears of tariff hikes and job losses, but UPPCL is keen to dispel these concerns. For consumers, Goel clarified that tariffs are regulated by the state's regulatory commission, and privatisation is not inherently linked to price increases. In fact, private players are expected to reduce line losses and curb power theft, which currently burden honest, paying consumers. "The honest consumer is indirectly subsidising those who don't pay," he noted. By improving efficiency, privatisation could stabilise or even lower tariffs for those who pay their bills on time. The chairman drew parallels with successful privatisation models in Delhi, Odisha, Chandigarh, and Dadra Nagar Haveli, where consumer services have improved significantly. In Agra, where Torrent supplies power, middle-class consumers report reliable service, though challenges persist for low-income households unable to pay on time. Goel acknowledged these concerns but stressed that regulatory rules govern discoms, ensuring protections for vulnerable consumers. "Electricity is a commodity. Just like a mobile bill, if you don't pay, service stops. But privatisation doesn't mean leniency will vanish—regulators will ensure fairness," he said. Employees: UPPCL has taken proactive steps to ease concerns. "No one will lose their job," Goel, the 1995 batch IAS officer, assured. Employees of Purvanchal and Dakshinanchal have three options: one, continue with the private discoms on the same or better terms. Second, return to UPPCL. Three, opt for voluntary retirement. Contractual workers, meanwhile, are likely to see increased opportunities as private discoms expand services to meet growing consumer demand. "Private players are better paymasters," Goel added, noting that UPPCL's losses currently limit salary increases. The Financial Imperative The financial rationale for privatisation is stark. The cash gap per unit of electricity is Rs 4.31 for Purvanchal, Rs 4.08 for Dakshinanchal, Rs 3.53 for Madhyanchal, Rs 2.08 for KESCO, and Rs 1.51 for Paschimanchal. These losses, coupled with Uttar Pradesh's low per capita electricity consumption of 723 units annually—compared to India's 1,331 and developed countries' 10 times higher—highlight the need for massive investment. "Govt can't fund this alone. Private investment is the only way to bridge the gap and meet rising demand," ," said Goel. Privatisation will involve selling 51% equity in the discoms, with govt retaining 49% share. As performance improves, the value of govt's stake will rise, as seen in Odisha, where private discoms have started paying dividends within five years. A stakeholder consultation on April 12 revealed strong private sector interest, signalling confidence in the model. A Broader Vision: Renewable Energy and Beyond Beyond privatisation, UPPCL is also focusing on renewable energy to meet its renewable consumption obligation. A recent 2,000 mega watt solar tender, along with agreements for wind, hydro, and battery storage, reflects a commitment to diversifying the energy mix. These efforts aim to reduce reliance on fossil fuels and align with India's sustainability goals. A Message to Skeptics To those wary of privatisation, Ashish Kumar Goel pointed to other sectors like telecom and airports, where private participation has driven innovation and improved services. "If we want a developed India by 2047, we can't rely on outdated systems. Electricity is the lifeline of modern society—powering hospitals, industries, and data centres. With aspirations rising, consumers demand uninterrupted, high-quality supply, which requires significant investment and efficiency," he said. He further said, "UPPCL's privatization push is not without challenges. A five-year transition period means results won't be immediate, and public perception remains a hurdle. Yet, we are optimistic, as we have witnessed the successful models of other states, and there is an urgent need to break free from the debt trap." "This is a win-win for consumers and govt," he concluded.
