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Gold ETFs Hit Rs 1 Lakh Crore Milestone
1 Dec
Summary
- Gold ETF Assets Under Management surpass Rs 1 lakh crore in October.
- India is importing non-sanctioned Russian oil due to widening discounts.
- Account aggregator Finvu secured $15 million from WestBridge Capital.
The Indian gold market is witnessing a notable surge, with Gold Exchange Traded Funds (ETFs) crossing the Rs 1 lakh crore mark in Assets Under Management (AUM) by October. This significant financial milestone highlights investor confidence and the growing appeal of gold as an investment vehicle.
Simultaneously, India's energy landscape is shifting as it actively imports non-sanctioned Russian crude oil. This strategic move is driven by the attractive discounts being offered, allowing the nation to optimize its energy procurement while navigating global supply dynamics.
In the fintech sector, account aggregator Finvu has announced a substantial funding round, securing $15 million. This investment, led by WestBridge Capital with participation from existing investors, underscores the company's robust business model and its potential for expansion in the digital financial services space.
