Value of gold imports rose in FY26 even as volumes fell. Apurva Sheth of Samco explains why higher gold duty may not curb demand and why fuel price hikes could better protect India's fiscal position

Apurva Sheth, Head of Market Perspectives and Research, SAMCO Securities

Business Standard

Rebalance away from gold and silver and towards equity and debt

gold, gold prices, gold silver prices

Existing equity schemes attracted record inflows in March and April 2026 as investors used market corrections to increase allocations despite weak NFO mobilisation

equity inflows

The ban applies to raw, white and ‌refined sugar and marks a shift in policy from "restricted" to "prohibited", according to a notification

India bans exports of raw, white and refined sugar with immediate effect

Reuters

The Reserve Bank of India (RBI) is expected to pay the highest-ever dividend to the government, providing the Centre with a fiscal cushion to address challenges arising from the ongoing Middle East crisis, sources said.
Last year the RBI made a record dividend payout of Rs 2.69 lakh crore to the central government for 2024-25, 27 per cent higher than Rs 2.11 lakh crore transferred in the previous year.
RBI is likely to decide about dividend quantum in its board meeting expected to be held during this month, sources said.
The transferable surplus for any financial year is arrived at on the basis of the revised Economic Capital Framework (ECF) as approved by the Central Board of the RBI.
The revised framework stipulates that the risk provisioning under the Contingent Risk Buffer (CRB) be maintained within a range of 7.50 to 4.50 per cent of the RBI's balance sheet.
As per the Budget documents, the Centre expects Rs 3.16 lakh crore in dividends and surpluses from the Reserve Bank of 

Reserve Bank of India (RBI)

Last year the RBI made a record dividend payout of ₹2.69 lakh crore to the central government for 2024-25, 27 per cent higher than ₹2.11 lakh crore transferred in the previous year

Press Trust of India

Market regulator says forensic audits cited by Bajaj Hindusthan did not examine accounts through which alleged fund diversion was carried out

Securities and Exchange Board of India, Sebi

The government imposed a 10 per cent basic customs duty along with a 5 per cent Agriculture Infrastructure and Development Cess (AIDC), aiming to curb imports of the previous metals

gold, silver, gold silver, gold silver prices

Govt hikes gold import duty: The move triggered selling in jewellery stocks, including Kalyan, Senco Gold, Titan. On the contrary, shares of Manappuram Fin, Muthoot Fin, and IIFL Finance rose up to 7%

Jewellery stocks slide after govt hikes import duty on gold

Gold-related stocks are likely to remain in focus post 15% import duty hike. In the last two days, these shares tumbled up to 15% after PM Modi appealed to Indians to abjure buying gold for a year.

Titan, Kalyan Jewellers other gold-related stocks were under selling pressure after govt hiked import duties on gold and silver to 15% on Wednesday.

The government today increased the import duty on gold and silver from 6 per cent to 15 per cent; analysts see this as a positive move for Hindustan Zinc.

Hindustan Zinc

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