Puneetg

@deepakshenoy When was the last time RBI sold gold ?

A little disappointing that RBI has given just 2.86 lakh crore as a dividend to the government. They had nearly 4 lakh crore of profit. And yet, chose to keep a substantial portion of it into their CRB - a risk buffer they have never had to use ever, and won't. The official reason is to maintain 6.5% as a buffer. I hope they sell their gold now, reduce the balance sheet size which is extremely bloated, and can return even more. But these hopes, they just remain hopes. We deserve better.

@Schandillia If this is the view, don’t cry for fuel shortages as OMC’s well in their business rights to shut down refinery as they wish.

During the pandemic not too long ago, crude had fallen to as low as $30 a barrel. No discount was passed on to retail customers then. No news of how much VAT central and state governments made in a time of crisis. No headline on fat OMC profits. You want violins now?

@WeekendInvestng Why do Indians buy gold ? Because govement depreciates our currency. Stop that and gold will be resolved. You better know why and how they depreciate

Basically Govt needs to rethink how to make Gold less attractive for Indians What all can they do ? 1. Increase Gold Price - already done 2. Reduce Taxation on equity - make it more attractive ? 3. Attract FII into equities giving tax sops? 4. Gold Controls - Can be seen as regressive 5. Take one time currency hit, increase rates and attract FDI? 6. Attract NRI bond money 7. Announce Gold Amnesty Monetization Scheme like done in 90s Others ?

@BachatXpert @PineLabs @amazonIN Happened same with Uber vouchers. All played ping pong. Raised compant with cyber Fruad . All resolved in 48 hours.

I want to share a bit of knowledge on how purchasing vouchers from right seller matters & how ur money can get stuck if wrong seller @PineLabs (Woohoo) is selected. I have purchased a gift card from @amazonIN in April. As u can see in the screenshot, there are two sellers for same Bata vouchers. ✔️ Sold by Gyftr and worked perfectly fine. ❌Sold by pinelabs & doesnot work at Bata in current form. Seeing the 2 formats in the sreenshots, u can see there is a difference and the Pinelabs one doesnot work at Bata POS since the shop staff is trained to use code only (as in Gyftr) and not code+PIN. I tried at multiple shops and they say that this is first time they are seeing this. Then I reached out to Woohoo & Bata India and they said goto Amazon since Amazon is seller. Woohoo infact told that u should receive another link to generate a code like gyftr voucher but I asked for the link, they said goto Amazon only. Then Amazon customer support raised 4 tickets again & again and asked to mail to Woohoo (Pinelabs is the parent company of Woohoo) Now, Woohoo again says goto Amazon & asks to follow same steps which i have followed 4 times already. In nutshell, @BATA_India is in partnership with @pinelabsprepaid is selling vouchers on @amazonIN which donot work at the store and the problem is no one has any clue on how to solve this issue and just raising tickets and asking to goto other party. Anyone has any experience on dealing with this issue, please inform or also any mechanism to reach to @RBI since its prepaid instrument issued by these 3 companies And please be careful while buying Bata vouchers and do check the seller and avoid buying from Woohoo @PineLabs @AmazonHelp @amazon @pinelabsonline

@1shankarsharma @Iamsamirarora @DealsDhamaka Govt has to give paper money for SGB. They don’t need gold to balance it out. They can issue SGB’s perpetually to continue this game.

@Iamsamirarora @DealsDhamaka Lend it to government of India to fulfill their short obligations on Sovereign Gold Bonds

Gold Monetisation ? Indians may soon be able to deposit gold in banks & earn interest ? It's funny how we used to put gold in banks and pay interest (gold loan) to banks paying interest for the same gold deposited If this is true, would you trust banks with your Gold ?

@rishiviate Hope you understand more about LHR slots. No one even thinks of leaving them

Air India Cancellations & reductions list as per Aeroroutes, usually a reliable source If these are correct, I find some of these cancellations & route suspensions really shocking, even though I'm an Air India fan. Particularly: Delhi-Chicago Delhi – New York Newark Mumbai-New York JFK Singapore Note: Singapore stands suspended total throughout June & August. Only Delhi Singapore running 4 weekly in July. The only saving grace is that, as of now, London Heathrow and the wider UK seem to have been spared. How have things come to this? It can't all be due to the Iran Crisis Fallout, & Pakistan Airspace closure The aircraft re-fit delays must be playing a part. aeroroutes.com/eng/260512-aij… @SeanMendis @BLRAviation @networkthoughts @LiveFromALounge

@KirtanShahCFP It was increased from 5+1 to 10+1. How come 15 ?

Gold prices will go up in India once because Import duty on gold is increased from 6% to 15% We import gold and hence have to pay import duty. The import duty was 6% (5% duty and 1% cess) which means 100 rupee of gold landed in India at 100 + 6  = 106 (to keep it simple). This import duty is now increased to 15% which means the same gold which was 106 will now become 115 This will lead to increase in gold prices in the domestic market for once. Policy making around gold is unstable for the last couple of years, - 2024 duty was decreased from 15 to 6 because there were SGB redemptions - 2025 LTCG was introduced on SGB redemptions retrospectively - 2026 again duty is increased. Import is a problem for India from a currency stand point. The more we import the more rupee depreciates, now we cant do anything to crude import and hence Gold import is always on the firing line. Won’t be surprised if petrol & diesel prices are next.

@Mahesh10816 @narendramodi 1. Open a business 2. Ask bank for a loan of 100 cr at 9%. 3. Use that money to buy gold. 4. Deposit all that in your scheme 5. Sit back and relax, you have played the game with 1% risk.

All @narendramodi ji has to do is Announce a Gold deposit scheme Details of the scheme 🎯 In this scheme anyone can deposit any quantity of physical gold 🎯 5 years lock in period 🎯 8% PA interest will be paid for the present price of Gold 🎯 Can be redmeed after 5 years as Gold or cash 🎯 Becomes 100% white after 5years 🎯 No questions asked about source of the gold 🎯 No penalties or fines for not declaring the Gold in their previous IT returns or assets 🎯 Govt gives bonds or guarantee that the gold will be returned after locking period, through an act of parliament 🎯 No future Government can revoke this contract 🎯 Confidentiality of depositors will be guaranteed I am Sure GOI will get 5 tons of gold in this scheme

@riteshmjn Remember gold bonds are still in system. Play with gold and burn your fiscal.

I believe capital controls are coming India coupled with a USD bond. Foreign travel will be taxed heavily. LRS will be tinkered with or might be suspended for few months. I am still not able to get my head around the measures to control Gold imports.

@deepakshenoy What if people take that gold out of India ?

One of the key influences to reduce dollar spends is on gold imports. India's demand has been high, and was $51 billion in FY25. It is likely to be about $92bn in FY26. Remember, net imports of crude - a larger import - was about $102bn in FY26. Given that we export other things, our current account deficit should be around $80bn in FY26 (up from $50bn in FY25) Basically, cutting crude oil imports and gold by 25% each will bring the deficit down substantially. So cutting gold is useful, to some extent. There's demand from retail buying of coins. From ETFs. From the jewellery sector. And now from other digital gold products. We imported around 780 tonnes of gold last year. RBI has a lot of gold. It bought gold, and has brought back gold it stored abroad. It doesn't need this much gold - it has over 800 tonnes. And it has a bloated balance sheet - way too high for a central bank that isn't doing any QE. More than 85 lakh crores sits in the central bank bal sheet - and more than 12 lakh crores is in gold alone. The RBI can slowly bring back more gold reserves back to india - it's doing about 100-200 tonnes per year anyhow. It can then sell 200 tonnes of gold locally, to serve the jewellery market this year (this will satisfy about half the demand) That would mean there is no dollars going out for importing gold. Not too much - only $30 bn or so, but that's enough to offset the current account deficit substantially. There is no major pressing need then for domestic consumers to stop consuming gold. The consumption will slow if prices fall; and if the rupee improves, and India's gold imports slow, prices should be under control. Anyhow, telling people to not buy gold has the opposite effect. We don't trust our government, inherently. So if they tell us to not buy, we will buy more. It's a bit of a problem to express this desire. Buy Indian is fine. Don't buy gold isn't going to help, I think. Now there's an impact - if the RBI sells 200 tonnes of gold, it will hurt rupee liquidity (any rupee paid to the RBI for its gold = rupee out of circulation). that's about 300,000 cr. rupees. But there is a huge surplus right now, and we can ease out 300,000 cr. through some temporary moves (VRR) or durable ones (RBI buying government bonds). This will reduce some forex reserves but just $30 bn which is a very small number compared to over $500 bn we own and which isn't that necessary. It will also help stabilize the rupee, allowing future inflows to be planned by foreign investors. It will also help in reducing any supply imbalances. This will help for one year, by which time, the government can create more room for foreign investment through regulatory red tape reduction, level playing field on taxes for FPIs, single window clearances etc. In short: RBI should sell about 15 tonnes of gold per month to the domestic market and that's enough to reduce a lot of the imports, reduce the current account deficit and allow the rupee to stabilize.

@1shankarsharma @riteshmjn Taxed back to 15%

@riteshmjn IMO, LRS will be truncated severely. The rest are almost impossible to control. Gold import cannot be stopped

@DeepakJAgarwal5 @connectgurmeet To pull gold from domestic households to be recycled

@connectgurmeet Then why EGR is launched on NSE?

The MF Industry should also restrict flows in Gold ETF.. put a daily cap of 5000 Rs per pan. I also urge govt to launch -gold monetisation scheme -India semiconductors n energy Bond fund in USD to increase inflows & provide growth capital. -tax FPIs on residency

@1shankarsharma x.com/rapidresponse4…

Hey @dspmf your gold ETF FoF hold some quantity of DSP Gold ETF. Now this Gold ETF holds gold. The statements published by yourself states it contains Some quantity. Do you mind stating this quantity is in which units. Oz, KG ?

@Iyervval @narendramodi @HardeepSPuri Step 1: make OMC sick. Step 2: start process of selling BPCL. Step 3: Mr A sole bidder. Step4: close retail operations and sell land. Step5: convert refineries to supply atf

My sincere request to @narendramodi and @HardeepSPuri - PLEASE start raising the cost of fuel. The current situation of absorbing cost is untenable given the following • the current calibrated allocation of fuel and gas, means the market is not deciding where allocation goes. Ergo the profitability of producers and refiners gets affected • current prices make it impossible to explore the possibility of acquiring fuel from new sources - the economics don’t work out. It was fine in the short term, but given how long the blockade is stretching out, these prices are impossible to sustain. Moreover supplying countries will also find greener pastures willing to pay higher prices. • the massive growth of fuel processing and distribution infrastructure since 2014 (doubling of import terminal, piping, customers, distributors, even sources) demands a return to market economics, else it becomes unsustainable. • literally every other major economy without exception have increased prices and not allowed the government to absorb the shock. Prices have gone up in other countries by around 100 ₹ per litre and diesel is selling in some at 225 ₹ per litre while petrol in Hong Kong is selling at 295 ₹ per litre. • indian manufacturers have had enough time to factor in the additional costs since the outbreak of the conflict • our refineries running at peak capacity is not good for the machinery and all of them running at peak capacity at the same time, increases the risk of failure and put us in an extremely vulnerable strategic situation • artificially low pricing is hampering a market driven movement to renewable alternatives. Like we studied in 6th standard CBSE civics, price ceilings have disastrous long term consequences despite being necessary in the short term as a shock absorber. The gulf blockade is the new normal - the economics of fuel has shifted, the prices need to reflect that new reality. Else the current situation will not just have a cascading effect on refiners and distributors but also on the entire economic situation replete with infrastructure failure and shortages. Please consider this a humble request, in the interests of fiscal prudence. I realise I’m asking for a lot from you - this being an obviously unpopular move. I am begging you, just as you absorbed the prices initially, please absorb the short term unpopularity so that we maintain medium to long term economic viability.

@KyleWilson77344 @DeepValueBagger Na..he was busy trading

@DeepValueBagger Umm that’s not true. They have $3.4 billion contract at Childress … did you listen to the call?

Let me explain this in layman terms for you $IREN. NVDA: You can buy our new shiny equipment (DSX) to accelerate your 5GW if you can have the money😆. (no actual GW equipment guarantee) IREN: Will you please invest in us. NVDA: We can't give you cash like $NBIS but we'll keep some call options to exercise in case you do well.

@jcrajan00 Never knew reliance was selling petrol at losses. Great insights. You have a career in writing fiction.

India kept fuel prices frozen for 14 months straight. Petrol, diesel, LPG — not a single revision despite crude whipsawing between $65 and $95. Most countries cannot do this without blowing up their fiscal. India pulled it off because of one thing nobody talks about: refining capacity. We are now the world's fourth-largest refiner. 254 MTPA capacity. Our refineries process crude 15-20% cheaper than global benchmarks because of scale and complexity. Reliance's Jamnagar alone does 1.4 million barrels a day — more than most OPEC countries produce. In the 2008 oil shock, India had to issue Rs 1.4 lakh crore in oil bonds because we could not absorb the price spike. In 2026, with a bigger crisis in West Asia, we absorbed it without bonds, without subsidies blowing up, and without passing the cost to consumers. The difference is 18 years of refining investment. We doubled capacity, upgraded to complex refineries that handle heavier crude, and diversified sourcing away from the Gulf. Refining is not glamorous. Nobody tweets about it. But it is the reason your petrol bill did not go up this year.

@iamrakeshbansal Dues have been reduced from 87,000 cr to 64,046 cr. one can jump from 87th floor or 64th floor. Result will be same.

✅ Birla returns to a different Vodafone Idea Kumar Mangalam Birla is returning as Chairman of Vodafone Idea — almost 5 years after he stepped down in August 2021. Back then, the company was in deep crisis: • Massive AGR dues & spectrum payments • Liquidity stress • Losing millions of subscribers every quarter • Fear of shutting down Now, the picture is very different: • Vodafone Idea has successfully raised ₹18,000 crore via FPO • Reduced total AGR dues significantly (from ₹64,000+ crore to much lower) • Liabilities down by 27% • Improved 4G network and preparing for 5G rollout • Moving from survival mode to a cautious recovery phase From near-collapse to cautious comeback! niftykaboss.com

@sandipsabharwal True, all infra is intact, loading time will evaporate and transit time will be reduced to seconds. Knowledge insight.

There is so much Crude Oil now pumped and stored That as soon as the blockades open There will be much more crude available in the short run than refineries can process Refining Margins and as a corollary fuel prices will collapse

@menakadoshi Who lost more than OMC’s ?

The cabinet has just approved an Emergency Credit Line Guarantee Scheme for businesses affected by the Iran war, including airlines.