Gold Silver Rate Today (Oct 30): Metals In Red, Check Latest Rates In Delhi, Mumbai, Chennai

Centre Extends Cotton Import Duty Exemption Till Dec 31 To Ease Textile Industry Costs

ANI — Sat, 31 Oct 2026 08:46:20 +0530

New Delhi [India], October 31 (ANI): The Centre has extended the customs duty exemption on cotton imports by two months till December 31, 2026, from the earlier deadline of October 31, to improve raw material availability and ease input costs for the domestic textile and apparel industry.

The Union Ministry of Finance notified the extension through Notification No. 35/2026-Customs, dated October 30, amending an earlier notification issued on May 30, 2026.

The notification was issued under Section 25(1) of the Customs Act, 1962, read with Section 124 of the Finance Act, 2021. The government said it had taken the decision after being "satisfied that it is necessary in the public interest".

Under the amendment, the date "31st day of October, 2026" in the earlier notification has been replaced with "31st day of December, 2026", extending the exemption period by two months.

The extension is expected to help reduce input costs across the textile and apparel industry and provide relief to manufacturers and consumers. It is also expected to improve cotton availability in the domestic market and support small and medium enterprises, which depend on the raw material for their operations.

The extension is expected to improve the availability of cotton in the domestic market and ease input cost pressures across the textile and apparel value chain. It is likely to provide additional support to textile and garment manufacturers, particularly small and medium enterprises, by ensuring a more consistent supply of raw material for production.

The measure is also intended to help manufacturers manage procurement costs while balancing the requirements of the textile industry with the interests of domestic cotton farmers.

The amendment has been made to Notification No. 19/2026-Customs, dated May 30, 2026, published in the Gazette of India. The latest notification was issued by the Department of Revenue under the Ministry of Finance through the Central Board of Indirect Taxes and Customs.

(This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)

Secure supply chains, resilience key for global economy: Jaishankar

PTI — Sat, 31 Oct 2026 01:15:02 +0530

Washington, Oct 31 (PTI): External Affairs Minister S Jaishankar on Saturday said securing supply chains and ensuring their resilience was central to the well-being of the global economy.

Addressing the concluding plenary of the G20 Foreign Ministers’ Meeting in Atlanta, Jaishankar said diversification and de-risking, including in connectivity, are key to supply chain resilience, threatened by pandemics, conflicts, climate events and mishaps.

“The right to industrialise must be promoted; predatory practices and targeting competition should be firmly resisted,” the minister said in a post on X, sharing the broad issues he raised at the G20 meeting convened by US Secretary of State Marco Rubio.

The minister said de-concentration of the global economy and optimisation of production across geographies can discourage the weaponisation of finance, resources, production and market share.

“The G20 should work towards de-politicisation of markets,” Jaishankar said.

The minister said G20 countries must reconcile their national interests for the collective good by promoting transparent and multiple supply chains, making the global economy truly multi-stakeholder.

Wrapping up the two-day G20 Foreign Ministers’ Meeting, Rubio said he made it clear to partners of the US that secure supply chains are essential for growth.

“Critical trade routes, including the Strait of Hormuz and Bab al-Mandeb Strait, must remain secure and open to commerce. And we must continue to strengthen and expand critical mineral supply chains to protect our future,” Rubio said. PTI SKU

GRS

(This story is published as part of the auto-generated syndicate wire feed. No editing has been done in the headline or the body by ABP Live.)

Sun Pharma Q2 profit falls 36 pc to Rs 1,989 cr; formulations, global innovative sales push revenue

PTI — Sat, 31 Oct 2026 00:30:43 +0530

New Delhi, Oct 30 (PTI): Pharma major Sun Pharmaceutical Industries on Friday reported a 36.36 per cent decline in consolidated net profit to Rs 1,988.53 crore for the September quarter, dragged down by a one-time expenditure related to the proposed acquisition of Organon and litigation expenses in the US.

The company had posted a consolidated net profit of Rs 3,124.95 crore in the corresponding quarter last fiscal year, Sun Pharmaceutical Industries said in a regulatory filing.

Consolidated total revenue from operations in the second quarter of the current fiscal year stood at Rs 16,198.71 crore as compared to Rs 14,478.31 crore in the year-ago period, it added.

The rise in revenues was driven by an increase in formulation sales in India -- up 17.3 per cent to Rs 5,552.3 crore -- accounting for 34.5 per cent of the total consolidated sales for the quarter. Global innovative medicines sales, which increased 6.9 per cent to approximately USD 356 million, were also a key factor behind the rising revenues, accounting for 21.1 per cent of sales.

Emerging markets accounted for 20.7 per cent of total consolidated revenue for Q2. The performance in innovative medicine continues to be driven by growth across US and ex-US markets, across products notably Illumia, Ex-US, Ciqua, and Odumzo, the company said during a post-earnings call.

Total expenses during the quarter under review were higher at Rs 12,287.83 crore as compared to Rs 10,780.62 crore a year ago, the company said.

The quarter included about Rs 1,269 crore in exceptional charges, primarily a US generic-pricing antitrust litigation settlement -- about Rs 923 crore -- and costs associated with the proposed Organon acquisition (about Rs 346 crore). Management indicated additional transaction-related costs may arise before closing.

The Organon acquisition is subject to satisfaction of the remaining customary closing conditions and is on track to close by early 2027, the company revealed during the earnings call.

"Our performance during the quarter was driven by strong momentum in India, emerging markets and the rest of the world. Among key developments, Ilumya is now approved in the US for the treatment of adults with active psoriatic arthritis. ...Beyond dermatology, we strengthened our cardiovascular portfolio through the licensing of lerodalcibep, a PCSK9 inhibitor, for markets outside the US and China," Kirti Ganorkar, Managing Director of the company, said.

The shares of Sun Pharmaceuticals settled 0.87 per cent higher at Rs 1,778.25 apiece on the BSE. PTI TRB VHI NB

(This story is published as part of the auto-generated syndicate wire feed. No editing has been done in the headline or the body by ABP Live.)

Binance Hit By $6.3-Billion Crypto Heist? What We Know About The Biggest Hack

Sagarika Chakraborty — Fri, 30 Oct 2026 23:10:09 +0530

Binance, the world's largest cryptocurrency exchange, has reportedly suffered a major cyberattack, with hackers stealing cryptocurrencies worth $6.3 billion in what could be the biggest crypto heist in history.

Confirming the incident, Binance said it was working to contain and resolve what it described as a "complex attack". The exchange said it was coordinating with law enforcement agencies and other industry partners to trace and freeze the stolen assets.

"This was a complex attack, and we are doing all we can in coordination with law enforcement to resolve it," Binance wrote in a post on X.

The exchange also cautioned that the estimated value of the stolen assets could rise further as investigations continue.

The $6.3-billion figure may "continue to increase as our teams work closely with law enforcement, issuers, blockchain intelligence firms and industry partners to trace and freeze additional assets," it said.

Here's what we know about the reported Binance hack so far.

What Happened? $6.3 Billion In Cryptocurrency Stolen

According to Binance, around $6.3 billion worth of cryptocurrencies were stolen from wallets used by the exchange to process transactions.

In its initial assessment, the company believed the attack had originated from a compromised laptop. However, further investigation revealed additional security breaches.

"However, our subsequent investigation has uncovered additional points of breach," Binance said.

How Did Hackers Carry Out The Attack?

The attack targeted Binance.com, the exchange's global centralised platform. Binance.US, which serves customers in the United States, was not affected, the company said.

Binance said the compromised laptop provided the attacker with access to a service container, enabling the submission of unauthorised withdrawal transactions.

Richard Teng, Binance's co-chief executive officer, described the incident as a "complex attack process".

According to US-based blockchain analytics firm TRM Labs, the attackers compromised Binance's "signing infrastructure", which authorises transactions. This allegedly allowed them to issue instructions that drained the affected wallets.

ALSO READ: Mohan Yadav Announces 2% DA Hike From January 2026 For MP Govt Employees

Blockchain records indicate that the bulk of the heist took place within approximately 20 minutes. The transactions began shortly after 2000 GMT on Thursday.

After moving the funds, the attackers attempted to transfer them beyond the reach of Binance's counterparties and stablecoin issuers. These entities have since frozen roughly half of the stolen assets.

Who Is Behind The Binance Hack?

Binance and other authorities have not confirmed the identity of those responsible for the attack.

However, US-based blockchain intelligence firm TRM Labs has attributed the hack to a North Korean-linked group known as TraderTraitor, which it described as one of North Korea's elite hacking units.

In a post on its website on Thursday, TRM said: "We make this judgment with high confidence."

Blockchain analysis firm Chainalysis also pointed towards the same group. Its co-founder and CEO, Jonathan Levin, wrote on X that the Binance hack was "likely done by DPRK (North Korea) group TraderTraitor".

What Happens To Binance Users? Are Their Funds Safe?

Binance said on Friday that it had set aside more than $6.34 billion in company funds to manage the fallout from the attack. This includes $5 billion already held in the affected token assets.

In an earlier statement, Teng said users' funds were safe. As a precautionary measure, the exchange also temporarily suspended deposits and withdrawals.

The company said it was working with its partners to freeze assets worth $3 billion that have been traced so far.

However, freezing the assets does not necessarily mean they will be returned to Binance. It does, nevertheless, restrict the hackers' ability to convert the stolen cryptocurrencies into cash.

Binance also said it remained on schedule to restore withdrawal services.

"We are still on track towards the expected timeline to resume the withdrawal service in 45 hours," the exchange said.

ALSO READ: Money Matters: Why Financial Conversations Remain Taboo In Indian Households

Mohan Yadav Announces 2% DA Hike From January 2026 For MP Govt Employees

Sagarika Chakraborty — Fri, 30 Oct 2026 21:37:12 +0530

Madhya Pradesh Chief Minister Mohan Yadav on Friday announced a 2% increase in Dearness Allowance (DA) for state government employees and officers. The revised allowance will be effective from January 2026.

Following the hike, employees will receive arrears for the nine-month period from January to September in three equal monthly instalments. The enhanced DA will be paid in cash along with the October salary, which is payable in November.

“The state government is going to increase the Dearness Allowance (DA) for its employees and officers by 2 per cent. The revised DA will be effective from January. The arrears for the nine-month period from January to September will be paid in three equal monthly instalments. The increased DA will be paid in cash along with the October salary, payable in November,” CM Yadav said in a post on X.

ALSO READ: PNB Fraud Allegations: Rs 35 Crore Reportedly Missing From Greater Noida Accounts, Bank Settles Rs 43 Lakh

2% Dearness Relief Hike For Pensioners

The Chief Minister also announced a 2% increase in Dearness Relief (DR) for pensioners, effective from July 2026.

“For pensioners, Dearness Relief (DR) will also be increased by 2 per cent with effect from July 2026. The government has always stood by the interests of pensioners and employees,” Yadav added in his post.

The Chief Minister said the state government remained committed to safeguarding the interests of its officers and employees, as well as pensioners.

ALSO READ: Money Matters: Why Financial Conversations Remain Taboo In Indian Households

Money Matters: Why Financial Conversations Remain Taboo In Indian Households

Sakshi Arora — Fri, 30 Oct 2026 17:15:50 +0530

Money is central to family life in India, shaping decisions around home ownership, education, marriage and retirement. Yet, conversations about how much people earn, owe or save often remain off-limits.

In many households, children are taught to save, couples discuss major purchases only when the need arises, and financial support for relatives is treated as an expectation rather than an explicit agreement. The result is a gap between the financial decisions families make together and what individual members know about each other's circumstances.

The reluctance to discuss money is not always about secrecy. It can stem from concerns about social standing, fear of judgement and long-standing ideas about what should remain private.

Money, Status And The Fear Of Being Judged

Income is often seen as a marker of success. A good salary, a house and the ability to support one's family can carry social significance, making financial setbacks difficult to acknowledge.

Revealing debt or admitting that money is tight may invite questions about spending habits and personal choices. Differences in earnings can also create comparisons among siblings and relatives, while higher earners may face pressure to take on a larger share of family expenses.

These sensitivities can turn a practical discussion into a personal one. Instead of talking about what someone can afford, families may end up judging what they earn or how they spend it.

Also Read : Bank Holidays In November: Check Full RBI Calendar For Diwali, Chhath Puja And More

Why Saving Is Taught, But Financial Planning Gets Less Attention

Many Indians grow up hearing that they should save for a rainy day. Fewer may be involved in conversations about how household budgets are managed, why a loan was chosen or how a family prepares for an unexpected expense.

This matters as young adults begin managing their own money. They must balance rent and daily expenses with savings, insurance, debt repayments and long-term goals, often without having seen these decisions discussed at home.

Financial education within families need not involve sharing account balances or investment details. Explaining the reasoning behind a decision can offer a more practical lesson than simply telling children to spend less and save more.

When Family Responsibilities Become Financial Expectations

Financial obligations in Indian families often extend beyond the immediate household. Adult children may contribute to their parents' expenses, help fund a sibling's education or provide support during a difficult period.

Such support can be an important part of family life. Problems arise when the amount, duration or limits of that support are never discussed.

Someone helping their parents may also be saving for a home or managing a loan. Without a conversation about what is affordable, relatives may assume that financial assistance can continue indefinitely, leaving the person providing it under pressure.

Clearer discussions can help families distinguish between what they want to do for one another and what they can realistically afford.

Why Couples Need To Discuss Finances Before Major Decisions

Couples may spend months planning a wedding without discussing existing debt, spending habits or financial commitments to their respective families. These issues become harder to avoid after marriage, when decisions about housing, children and household expenses require shared planning.

Partners do not need identical attitudes towards money. One may prioritise savings, while the other may be more comfortable spending on travel or experiences. What matters is whether they understand each other's priorities and agree on how to manage shared responsibilities.

Discussing finances early can also help couples decide how expenses will be divided and how much financial independence each person wants to retain. These conversations are less about monitoring spending than avoiding surprises when a major financial decision arises.

Financial Privacy Is Not The Same As Secrecy

Openness about money does not mean every relative needs to know a person's salary, savings or investments. Financial privacy is a reasonable boundary.

The distinction lies in whether undisclosed information affects someone else's decisions. Partners planning a home purchase need an honest picture of their shared financial commitments. Family members pooling money for an expense need to agree on their respective contributions.

The aim is not complete disclosure, but enough clarity to make informed decisions and set realistic expectations.

Also Read : IDBI Bank Sale Row: Sitharaman Accuses Congress Of Political Lending, Defends Fairfax Deal

Making Money Easier To Discuss

Families can start with practical conversations rather than broad questions about income or wealth. Parents can explain household budgeting to children, couples can review shared expenses regularly, and relatives providing financial support can be clear about what they can afford.

The tone matters, too. Discussions are unlikely to be productive if they become opportunities to compare salaries, criticise spending or revisit past mistakes.

Making money easier to discuss does not require families to give up their privacy. It requires treating financial decisions as a practical part of family life, rather than a measure of personal success or responsibility.

Bank Holidays In November: Check Full RBI Calendar For Diwali, Chhath Puja And More

Sakshi Arora — Fri, 30 Oct 2026 16:54:13 +0530

Planning a bank visit in November? It is worth checking the holiday calendar before heading out to deposit a cheque, collect a demand draft or access a locker. Banks will observe multiple holidays during the month, with closures varying by state and city depending on festivals and regional observances.

The Reserve Bank of India's holiday calendar for November 2026 includes closures for Diwali, Chhath Puja, Guru Nanak Jayanti and other regional festivals, alongside the usual Sunday and second and fourth Saturday holidays. Not all holidays apply nationwide, so the dates on which branches remain shut will depend on the location.

Bank Holidays In November 2026: Weekend Closures

In addition to festival-related holidays, banks will remain closed on Sundays and the second and fourth Saturdays of November.

The month begins with a Sunday holiday on November 1. Banks will also be closed on November 8 and November 15, both Sundays, while November 14 is the second Saturday holiday.

Later in the month, November 22 and November 29 fall on Sundays. The fourth Saturday holiday will be observed on November 28.

These regular closures apply across India, although festival-related holidays differ from one location to another.

Bank Holidays in November

Date	Day	State
November 1	Weekend Holiday	All Over India
November 2	Nongkrem Dance	Shillong
November 8	Weekend Holiday	All Over India
November 9	Diwali/Laxmi Puja (Deepawali)/Govardhan Pooja/Vishwakarma Day	Agartala, Bhopal, Chandigarh, Gangtok, Imphal, Jaipur, Kanpur, Lucknow, and Raipur
November 10	Diwali (Bali Pratipada)/Deepawali (Govardhan Puja)/Laxmi Puja/Vikram Samvant New Year Day	Ahmedabad, Belapur, Bengaluru, Dehradun, Gangtok, Mumbai, Nagpur
November 11	Laxmi Puja (Deepawali)/Ningol Chakkouba/Bhratridwitiya/Bhaidooj/Chitragupt Jayanti	Gangtok, Imphal, Kanpur, Kolkata, Lucknow, and Shimla
November 13	Wangala Festival	Shillong
November 14	Second Saturday	All Over India
November 15	Weekend Holiday	All Over India
November 16	Chhath Puja/Surya Shashti Dala Chhath (Prath Arghya)	Patna and Ranchi
November 20	Igas-Bagwal	Dehradun
November 22	Weekend Holiday	All Over India
November 23	Seng Kut Snem	Shillong
November 24	Guru Nanak Jayanti/Karthika Purnima/Rahas Purnima	Aizawl, Belapur, Bhopal, Bhubaneswar, Chandigarh, Dehradun, Hyderabad, Itanagar, Jaipur, Jammu, Kanpur, Kohima, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Raipur, Ranchi, Shimla, and Srinagar
November 27	Kanakadasa Jayanthi	Bengaluru
November 28	Fourth Saturday	All Over India
November 29	Weekend Holiday	All Over India

Also Read : Share Markets Close On A High As IT Stocks Climb: Sensex Over 300 Points Up, Nifty Above 23,050

Diwali Bank Holidays In November: Check City-Wise Dates

Diwali-related observances account for several bank holidays in the first half of November, with different cities observing closures on different dates.

On November 9, banks will remain closed in Agartala, Bhopal, Chandigarh, Gangtok, Imphal, Jaipur, Kanpur, Lucknow and Raipur for Diwali, Laxmi Puja, Govardhan Pooja and Vishwakarma Day.

The following day, November 10, banks in Ahmedabad, Belapur, Bengaluru, Dehradun, Gangtok, Mumbai and Nagpur will observe holidays for Diwali (Bali Pratipada), Deepawali (Govardhan Puja), Laxmi Puja or Vikram Samvant New Year Day.

Chhath Puja, Guru Nanak Jayanti Among Other November Bank Holidays

Several other festivals and regional observances will affect bank operations later in November.

Banks in Patna and Ranchi will remain closed on November 16 for Chhath Puja, also listed as Surya Shashti Dala Chhath (Prath Arghya).

On November 20, banks in Dehradun will observe a holiday for Igas-Bagwal, while Shillong will have a closure on November 23 for Seng Kut Snem.

November 24 is another significant date on the calendar. Banks in Aizawl, Belapur, Bhopal, Bhubaneswar, Chandigarh, Dehradun, Hyderabad, Itanagar, Jaipur, Jammu, Kanpur, Kohima, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Raipur, Ranchi, Shimla and Srinagar will remain closed for Guru Nanak Jayanti, Karthika Purnima or Rahas Purnima.

Bengaluru will observe a bank holiday on November 27 for Kanakadasa Jayanthi.

Will Online Banking Work During November Bank Holidays?

Bank holidays generally affect physical branch operations rather than all banking services. Customers can continue using available digital banking facilities for transactions that do not require a branch visit.

However, services such as locker access, demand draft collection, certain cash transactions, cheque-related work and documentation requiring branch staff may need to be completed on a working day.

Since several November holidays apply only to specific cities or states, customers should check the schedule for their local branch before planning a visit.

Also Read : IDBI Bank Sale Row: Sitharaman Accuses Congress Of Political Lending, Defends Fairfax Deal

Share Markets Close On A High As IT Stocks Climb: Sensex Over 300 Points Up, Nifty Above 23,050

Sakshi Arora — Fri, 30 Oct 2026 15:33:26 +0530

Indian benchmark indices, the BSE Sensex and NSE Nifty 50, ended Friday’s trading session in, with information technology stocks lending support to domestic equities despite weakness in global technology shares.

Investors also tracked quarterly earnings announcements, elevated crude oil prices and developments across international markets.

The Sensex closed above 74,450, soaring 300 points. The Nifty 50 settled at 23,053, climbing more than 100 points.

IT Stocks Support Markets; Broader Indices Remain Under Pressure

Information technology stocks remained a key source of support for the benchmark indices, even as concerns over global technology companies weighed on overseas markets following disappointing earnings reports from major US companies.

The Nifty IT index emerged as the strongest-performing sector in the domestic market during the session. In contrast, the Nifty Consumer Durables index recorded the steepest decline among sectoral indices.

The broader market continued to face selling pressure. The Nifty MidCap 100 and Nifty SmallCap 100 had both traded in negative territory during the day, reflecting weaker sentiment beyond the frontline indices.

Among Nifty 50 constituents, Trent, Sun Pharmaceutical Industries and InterGlobe Aviation featured among the leading gainers during the session.

Also Read : Bank Holidays In November: Check Full RBI Calendar For Diwali, Chhath Puja And More

Global Markets, US Tech Earnings Keep Investors Cautious

Global cues remained mixed, with US technology stocks under pressure following corporate earnings announcements. Wall Street had closed lower in the previous session, led by a 1.38% decline in the Nasdaq Composite. The Dow Jones Industrial Average and S&P 500 also ended lower.

Concerns about spending on artificial intelligence resurfaced after Alphabet's revenue missed expectations. Microsoft, however, offered a more upbeat outlook, projecting fiscal second-quarter sales of up to $97.1 billion and Azure growth of 49-50%.

Asian equities also traded lower during early Friday trade. Japan's Nikkei, Hong Kong's Hang Seng and China's Shanghai Composite were all in negative territory. These developments kept global technology shares and investor risk appetite in focus, although Indian equities drew support from domestic buying in select sectors.

Crude Oil Prices, Currency Movements Remain Key Factors

Crude oil prices remained elevated, with Brent crude trading above $111 per barrel and West Texas Intermediate crude hovering around $104 per barrel in early trade.

Higher oil prices remain a concern for India, a major crude importer, as sustained increases can affect import costs, inflation expectations and corporate margins. Oil marketing companies, aviation firms and other fuel-intensive businesses could remain sensitive to further price movements.

In the currency market, the rupee was trading around Rs 95.21 per US dollar in the morning. The US Dollar Index declined, while the yield on the US 10-year Treasury eased. Changes in the dollar, bond yields and global capital flows remain important variables for emerging-market equities.

Gold and silver prices also declined in early trade, with gold trading around $4,004.19 and silver at $51.39.

Also Read : IDBI Bank Sale Row: Sitharaman Accuses Congress Of Political Lending, Defends Fairfax Deal

FII-DII Activity, India VIX In Focus

Institutional flows remained an important factor for domestic market sentiment. In the latest available data, foreign institutional investors were net sellers of Rs 943.60 crore, while domestic institutional investors purchased shares worth Rs 1,924.41 crore.

Domestic institutional buying exceeded foreign investor outflows in the reported session. Meanwhile, India VIX declined 7.02% to 15.11, indicating a reduction in expected market volatility. However, a fall in the volatility index does not, by itself, indicate the direction of the market.

IDBI Bank Sale Row: Sitharaman Accuses Congress Of Political Lending, Defends Fairfax Deal

Sakshi Arora — Fri, 30 Oct 2026 14:22:24 +0530

Finance Minister Nirmala Sitharaman has defended the proposed sale of IDBI Bank to Canada's Fairfax Financial Holdings, accusing the Congress-led government of allowing political influence to shape lending decisions and leaving the lender saddled with bad loans. Her remarks came in response to Congress leader Rahul Gandhi's criticism of the disinvestment and his concerns over the future of the bank's employees and depositors.

The government approved the sale of a 60.72 per cent stake in IDBI Bank for around Rs 53,000 crore on October 14. Gandhi has questioned the rationale for selling the lender, arguing that public sector banks serve a broader purpose than generating proceeds through disinvestment.

What Sitharaman Said To Rahul Gandhi

In a post on X, Sitharaman said IDBI Bank had been forced under previous administrations to lend to large business groups with close links to Congress leaders. She named Videocon, Winsome, ABG Shipyard and Kingfisher, saying loans to these businesses had turned into bad assets and caused substantial losses for the bank.

The Finance Minister said the Narendra Modi-led NDA government had worked to revive the lender through professional management, prudent lending and recapitalisation exceeding Rs 25,000 crore. She added that the bank was now positioned for its next phase of growth and maintained that the strategic restructuring process had followed due procedure.

Sitharaman also challenged Gandhi's credibility by referring to his allegations concerning the Rafale deal. She said his claims in that case had been exposed and that he had been required to apologise.

Finance Minister Cites 1976 Removal Of SBI Chairman

Sitharaman's criticism extended beyond IDBI Bank to the Congress party's record in the banking sector. She alleged that banks and financial institutions had been treated as personal entities by the previous government, with influential borrowers receiving favourable treatment while bank employees faced pressure to approve loans.

As an example, she cited the removal of State Bank of India chairman R K Talwar in 1976, during Indira Gandhi's tenure. Sitharaman alleged that Talwar was removed after resisting political pressure to relax lending norms for a company associated with Sanjay Gandhi.

She argued that the Congress-era system favoured powerful borrowers through personal connections, contrasting it with what she described as a banking system in which ordinary customers have easier access to loans and employees are no longer pressured to approve lending decisions over telephone calls.

Rahul Gandhi Questions Sale Of A Public Sector Bank

Gandhi has opposed the IDBI Bank disinvestment and expressed support for its employees.

In a letter to the bank's employees, he recalled meeting a group of staff members at Parliament House in March last year. According to Gandhi, they questioned why the government wanted to sell a bank they had helped make profitable.

He said he subsequently raised the issue in the Lok Sabha, asking why the government was selling the lender and what safeguards would protect its employees and depositors. Gandhi alleged that the government had not provided a satisfactory explanation before deciding to sell the bank to Fairfax.

The Congress leader maintained that public sector banks should be treated as institutions that contribute to nation-building rather than assets to be sold.

Fairfax To Acquire Government And LIC Stakes Worth Rs 53,000 Crore

The proposed transaction involves the combined sale of stakes held by the government and the Life Insurance Corporation of India (LIC).

Fairfax Financial Holdings will acquire the government's 30.48 per cent stake, valued at around Rs 26,620 crore, and LIC's 30.24 per cent stake, worth approximately Rs 26,440 crore. Together, the holdings account for 60.72 per cent of IDBI Bank.

The transaction, valued at about Rs 53,000 crore ($5.5 billion), is expected to rank among the largest foreign investments in an Indian bank and represents a major step in the government's long-delayed banking privatisation drive.

The strategic sale is expected to be completed by the end of the current financial year, subject to regulatory clearance from the Reserve Bank of India (RBI).

Gold Silver Rate Today (Oct 30): Metals In Red, Check Latest Rates In Delhi, Mumbai, Chennai

Sakshi Arora — Fri, 30 Oct 2026 14:11:15 +0530

Gold Silver Rate Today: Gold and silver prices declined on Friday, October 30, as expectations of tighter US monetary policy weighed on bullion. On the Multi Commodity Exchange (MCX), silver fell by more than Rs 4,000 per kg, while gold futures dropped nearly Rs 1,000 per 10 grams.

The correction comes ahead of Dhanteras and Diwali, offering some relief to consumers planning festive purchases.

December gold futures fell 0.63 per cent, or Rs 911, to an intraday low of Rs 1,41,685 per 10 grams. At around 12:20 pm, the contract was trading at Rs 1,41,800, down Rs 796, or 0.56 per cent, from its previous close.

Silver recorded a sharper decline, slipping Rs 4,282, or 2.26 per cent, to Rs 1,85,171 per kg. It was last trading at Rs 1,85,500 per kg, down Rs 3,953, or around 2 per cent.

Overseas markets followed a similar trend. Spot gold declined 0.7 per cent to around $3,991 per ounce, while spot silver fell 1.6 per cent to $51.27 per ounce.

Bullion has faced pressure following the US Federal Reserve's decision to keep interest rates unchanged at 3.75-4 per cent. The decision was taken in a 10-2 vote, with policymakers continuing to flag concerns about elevated inflation.

Fed Chair Kevin Warsh indicated that inflation remained stubbornly high, while two policymakers reportedly favoured raising rates instead of holding them steady. Strong economic indicators released since the announcement have further strengthened expectations that borrowing costs could remain elevated for longer.

This outlook can weigh on precious metals, which do not offer interest income, making them less attractive relative to interest-bearing assets when rates remain high.

Gold is nearing a key support range of Rs 1.40 lakh-Rs 1.41 lakh per 10 grams. A decisive break below this zone could take prices towards Rs 1.37 lakh-Rs 1.38 lakh, according to commodity experts.

For silver, the next major support is placed between Rs 1.83 lakh and Rs 1.85 lakh per kg. The metal has already corrected substantially from its historic peak.

Analysts believe the current levels could interest long-term investors and festive buyers, although further price movements will depend on the Fed's policy outlook, the US dollar index and Treasury yields.

Crude oil prices are another factor to monitor, with geopolitical tensions in West Asia, developments involving Iran and the possibility of supply disruptions adding uncertainty to global markets.

Also Read : Diwali Bonus 2026: 5 Money Mistakes You Must Avoid This Festive Season

Gold Rates Across Major Cities In India On Oct 30

Gold Prices in Delhi Today (Per 1 Gram)

24 Karat - 14,241

22 Karat- 13,055

18 Karat- 10,684

Gold Prices in Chennai Today (Per 1 Gram)

24 Karat - 14,226

22 Karat- 13,040

18 Karat- 10,667

Gold Prices in Bengaluru Today (Per 1 Gram)

24 Karat - 14,226

22 Karat- 13,040

18 Karat- 10,669

Gold Prices in Mumbai Today (Per 1 Gram)

24 Karat - 14,226

22 Karat- 13,040

18 Karat- 10,669

Gold Prices in Pune Today (Per 1 Gram)

24 Karat - 14,226

22 Karat- 13,040

18 Karat- 10,669

Gold Prices in Kolkata Today (Per 1 Gram)

24 Karat - 14,226

22 Karat- 13,040

18 Karat- 10,669

City	24k Gold Per Gram	22k Gold Per Gram	18k Gold Per Gram
Gold Rate in Hyderabad	14,226	13,040	10,669
Gold Rate in Ahmedabad	14,231	13,045	10,674
Gold Rate in Indore	14,231	13,045	10,674
Gold Rate in Lucknow	14,241	13,055	10,684
Gold Rate in Coimbatore	14,226	13,040	10,667
Gold Rate in Bhubaneswar	14,226	13,040	10,669
Gold Rate in Mysore	14,226	13,040	10,669
Gold Rate in Kanpur	14,241	13,055	10,684
Gold Rate in Salem	14,226	13,040	10,667
Gold Rate in Visakhapatnam	14,226	13,040	10,669
Gold Rate in Vijayawada	14,226	13,040	10,669
Gold Rate in Patna	14,231	13,045	10,674

Also Read : Nov 1 Rally: Delhi Traders Flag Rs 10,000 Crore Daily Business Risk, Seek Sonia Gandhi's Intervention

Silver Price Across Major Cities In India On Oct 30

Silver Price In Delhi Today

The current silver price in Delhi stands at Rs 210 per gram and Rs 210,000 per kg.

Silver Price In Chennai Today

The current silver price in Chennai stands at Rs 210 per gram and Rs 210,000 per kg.

Silver Price In Bengaluru Today

The current silver price in Bengaluru stands at Rs 210 per gram and Rs 210,000 per kg.

Silver Price In Mumbai Today

The current silver price in Mumbai stands at Rs 210 per gram and Rs 210,000 per kg.

Silver Price In Pune Today

The current silver price in Pune stands at Rs 210 per gram and Rs 210,000 per kg.

Silver Price In Kolkata Today

The current silver price in Kolkata stands at Rs 210 per gram and Rs 210,000 per kg.

Silver Price Today in Major Indian Cities

City	Per Gram	Per KG
Silver Rate in Hyderabad	210	210,000
Silver Rate in Ahmedabad	210	210,000
Silver Rate in Indore	210	210,000
Silver Rate in Lucknow	210	210,000
Silver Rate in Coimbatore	210	210,000
Silver Rate in Bhubaneswar	210	210,000
Silver Rate in Mysore	210	210,000
Silver Rate in Kanpur	210	210,000
Silver Rate in Salem	210	210,000
Silver Rate in Visakhapatnam	210	210,000
Silver Rate in Vijayawada	210	210,000
Silver Rate in Patna	210	210,000