Gold imports fell 6.77% to $23 billion during the April-December period of the financial year 2020 following a 2.5% increase in the import duty, according to the data from the commerce ministry. The government increased the import duty to mitigate the negative impact of gold imports on trade deficit.&nbsp;The decline in gold imports has helped in narrowing the country's trade deficit to $118 billion during the period, against $148.23 billion a year ago.
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Gold imports fell 6.77% to $23 billion during the April-December period of the financial year 2020 following a 2.5% increase in the import duty, according to the data from the commerce ministry. The government increased the import duty to mitigate the negative impact of gold imports on trade deficit. The decline in gold imports has helped in narrowing the country's trade deficit to $118 billion during the period, against $148.23 billion a year ago.

Even before the issue opens for the much-awaited SBI&nbsp;Cards IPO,&nbsp;grey market traders forecast the stock to list at around ₹1,100 while the IPO&nbsp;price has been fixed at ₹750-755 per share, the Economic Times reported on Thursday.&nbsp;Unlisted shares of the company are commanding a 50% premium on the IPO price in the grey market.&nbsp;The premium on unlisted shares shot up by ₹100 in the grey market in just one week since the IPO price announcement. Traders say the scrip is demanding ₹370-380 premium per share, which was in the ₹270-280 range a week ago.

The Securities and Exchange Board of India (SEBI) on Wednesday allowed investors to directly access the infrastructure of recognised stock exchanges to purchase and redeem mutual fund units directly from mutual fund and asset management companies. Industry participants believe that the move will increase flows into direct plans of mutual funds and help the industry penetrate into smaller cities.

Benchmark indices&nbsp;continued to slump on Thursday as global markets continued to witness strong sell-off due to coronavirus&nbsp;panic. The Sensex&nbsp;closed at&nbsp;39,745.66, down 0.36% and Nifty ended the session 45 points down at&nbsp;11,633.30.
Wipro, JSW Steel, ONGC, IOC&nbsp;and Zee&nbsp;Ltd were the top five Nifty losers. On the other hand, Sun Pharma, Britannia, Titan, Grasim&nbsp;and Axis Bank were on the gaining side.
At 3:50 PM, the Indian rupee was trading almost 4 paise&nbsp;high at 71.62 against the greenback.

Benchmark indices, the BSE Sensex and the NSE Nifty, opened in the red on Thursday. The Sensex was at 39,726, down 133 points or 0.33% lower. The Nifty opened at 11,638, down 39 points or 0.34% lower.&nbsp;HCL&nbsp;Tech, Cipla, Grasim, TCS and Wipro were the top five Nifty losers. While, Yes Bank, NTPC, Kotak&nbsp;Bank, L&amp;T and HDFC&nbsp;were in green.&nbsp;The rupee opened flat at 71.65 against the US Dollar.
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India&rsquo;s retail market is estimated to reach $1.1-1.3 trillion by 2025, from $0.7 trillion in 2019, growing at a compound annual growth rate or CAGR&nbsp;of 9-11%, driven by&nbsp;factors such as urbanisation, income growth and rise in nuclear families. According to a new report by Boston Consulting Group, India's consumption is likely to outperform that of developed countries like the US and UK that will only grow at a CAGR of 3.6% and 4.5%, respectively.
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Stock markets on Wednesday tumbled as the rise in coronavirus&nbsp;cases globally has created panic among investors of a worldwide economic slowdown. Benchmark indices&nbsp;fell further during the second half of the session after San Francisco declared state of emergency due to coronavirus.
The Sensex&nbsp;fell 392.24 points to close at&nbsp;39,888.96 and the Nifty ended the day at 11,678.50, down over a percent.
Auto, metal and IT stocks dragged the markets down. GAIL, Sun Pharma, TATA&nbsp;Motors, Grasim and Hindalco were the top five Nifty losers. While, Yes Bank, SBI, HCL&nbsp;Tech, Infratel and Britannia were in green.
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Market benchmark Sensex plunged nearly 400 points in opening session on Wednesday. Starting over 393.03 points lower, the Sensex pared some losses to trade 201.94 points, or 0.5% down in opening trade. The Nifty also dropped 58.10 points, to open trade at 11,739.80. Top losers in the Sensex pack included Sun Pharma, Bharti Airtel, Tata Steel, Reliance Industries and HDFC, shedding up to 2%. HUL, Nestle India, Power Grid and Asian Paints were among the gainers. The Rupee opened higher on Wednesday, at 71.75 against the US dollar.

CARE Ratings has placed Yes Bank's bonds worth more than&nbsp;₹21,000 crore on credit watch with negative implications. The ratings for tier two and infrastructure bonds has been downgraded from 'A' to 'A-'. The ratings have been revised on account of continued uncertainty related to quantum and timeline of raising equity capital.&nbsp;Further, the bank has delayed the publishing of the financial results for the quarter ended December 31, 2019.

The Reserve Bank of India has lifted regulatory restrictions imposed on&nbsp;Bandhan&nbsp;Bank, allowing it to open new branches without prior permission. Bandhan&nbsp;Bank informed exchanges, that the restriction has been lifted on the condition that 25% of the new banking outlets be opened in unbanked rural centres.&nbsp;The&nbsp;RBI had imposed penalties on the bank as it had violated regulatory norms to dilute promoter shareholding.
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SBI&nbsp;Cards and Payments Services has finalised its IPO&nbsp;price band to range between ₹750 to ₹755 per share, the public lender informed exchanges.&nbsp;The bid lot size for the offer has been finalized to be 19 equity shares and in multiples of 19 equity shares thereafter. The IPO&nbsp;is set to open from March 2 till March 5.&nbsp;In the last two years ending March 2019, SBI Cards' total income has grown by a compounded growth of 45% to ₹7,286 crore and net profits at a compounded rate of 52% to ₹862 crore.

Gold prices in India may surpass ₹47,000 per 10 grams mark in the next 12 to 15 months over mounting concerns due to the coronavirus outbreak, brokerage firm Motilal Oswal said on Tuesday. Gold prices&nbsp;have been on the rise ever since US President Donald Trump decided to impose tariffs on China back in 2018 and now the outbreak of coronavirus is helping the safe haven asset to outperform most global asset classes. On Monday, it surpassed a record high of ₹43,500 per 10 grams.&nbsp;

The current global health scare represents a buying opportunity as&nbsp;India's financial market faces low downside risk from coronavirus' impact on supply chains,&nbsp;Luis Oganes, JP Morgan's head of currencies and emerging market said. Emerging market central banks may cut interest rates further and the dollar will remain strong, he said. "If China's growth declines by half a point or one full point, how much that affects other parts of the world, India is not topping the charts in terms of that beta," he added.

The country's largest gold-financier&nbsp;Muthoot Finance on Friday said it has raised $550 million from International Bond Markets for a 3.5 year tenor at 4.4%.&nbsp;The company had placed $450 million for a 3 year tenor at 6.12% in October 2019. The proceeds of the issue will be used for onward lending.&nbsp;Following a strong order book momentum supported by high quality real money investors, the company was able to tighten pricing by 35 basis points to 4.4%. This comes when NBFC&nbsp;sector is going through severe liquidity crisis as investors turned cautious about funding them.

Telecom major Vodafone Idea's survival is in serious doubt as the company's ratings have been downgraded by three rating agencies in the span of just two days. India Ratings, Brickwork Ratings and&nbsp;Crisil&nbsp;have downgraded Vodafone Idea's rating on ₹3,500 crore&nbsp;worth of non-convertible debentures. However, Vodafone shares rose as much as&nbsp;59% in last two trading sessions after govt officials said that the company's bank guarantees won't be encashed.

The government is exploring the option to appoint third-party audit firms to recalculate dues payable by telecom&nbsp;firms&nbsp;after differences emerged in individual calculations made by the government and telcos, the Mint reported.
To ensure Vodafone&nbsp;Idea is not forced to close, the government is also&nbsp;considering to defer non-AGR&nbsp;dues, the Economic Times reported. Out of the total ₹1.47 lakh&nbsp;crore&nbsp;dues, telecom companies' unpaid licence fees amount to ₹22,589 crore, while interest and penalties took the total liability to ₹92,641 crore. Besides licence fees, telecom companies owe ₹55,054 crore in spectrum usage charges, as per estimates of the Department of Telecommunications (DoT).&nbsp;
Out of the total unpaid basic licence fee, telecom companies that are operational collectively owe around ₹16,746 crore, according to the estimates prepared by the DoT in July 2019.&nbsp;The unpaid licence fees of Bharti Airtel was assessed at ₹5,528.52 crore&nbsp;and&nbsp;Vodafone Idea ₹6,870.69 crore.
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Retail stock broker,&nbsp;Zerodha, has applied for an asset management company license.&nbsp;Founder and CEO&nbsp;Nithin Kamath&nbsp;said, the move was an effort to grow the capital market participation from the current 1.5 crores and address those who currently don't invest, mostly millenials. He added that&nbsp;mutual fund as a product needs to be reimagined.&nbsp;&nbsp;Based in Bengaluru, Zerodha is India's largest retail stock broker by active clients to offer the lowest and cheapest brokerage rates for futures and options, commodity trading, equity and mutual funds.&nbsp;Started in August 2010, it currently has 1.5 million active clients.
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Equity markets closed in the red on Thursday following dull Asian markets and foreign fund outflows. The Sensex&nbsp;fell 152.88 points or 0.37% to end the session at 41,170.12. The Nifty closed trading at 12,080.85, down 45.05 points.
IT, FMCG&nbsp;and Pharma&nbsp;stocks dragged the benchmark indices&nbsp;down, while metal, bank and auto stocks were in green.&nbsp;
Cipla, Asian paints, Hindustan Unilever, TCS and Tech Mahindra&nbsp;were the top Nifty losers. IndusInd&nbsp;Bank, Zee&nbsp;Ltd, Tata&nbsp;Steel, SBI&nbsp;and Power Grid were the top gainers.
The India rupee was down 8 paise&nbsp;at 71.65 against the US dollar.
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Hinduja Group has entered the race to invest in Yes Bank as part of a consortium&nbsp;with Cerberus and JC Flowers to buy a minority stake of up to 10% in the bank, CNBC&nbsp;tv18 reported on Thursday.
However, Hinduja-owned IndusInd Bank is not involved in the transaction, say reports.&nbsp;
Investors have reportedly reached out to the&nbsp;RBI,&nbsp;to seek dispensation on the pricing of the deal as the company thinks valuation should to be much lower than the current market price.&nbsp;
Since the Hinduja group owns IndusInd Bank, the RBI rules restrict it to own upto 10% stake in another bank.

Vodafone Idea on Thursday paid ₹1,000 crore&nbsp;to the&nbsp;Telecom Department towards statutory dues. The telco&nbsp;had paid ₹2,500 crore&nbsp;to the DoT&nbsp;earlier this week and had promised to make a further ₹1,000 crore&nbsp;payment by Friday.&nbsp;Vodafone&nbsp;Idea owes a total of ₹53,000 crore&nbsp;to the DoT&nbsp;in AGR&nbsp;dues.

The initial public offering of SBI Cards and Payment will open on March 2, according to its prospectus. The credit card arm of State Bank of India plans to issue new shares worth ₹500 crore and will offer up to 130.5 million shares for sale, the prospectus, dated February 18, mentioned. The bidding process will close on March 5.&nbsp;In grey markets,&nbsp;SBI&nbsp;cards' stock is already trading at 40% premium to its expected price of around ₹700.

Gold imports dip 6.77% during April-December 2019

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