RBI purchased another 8 tonnes of gold in Nov as safe-haven assetIANS
The Reserve Bank of India (RBI) bought another eight tonnes of gold in November 2024 as Central banks around the world continued their buying spree with a collective purchase of 53 tonnes of the precious metal during the month, according to the latest World Gold Council (WGC) report.
The decline in gold prices during November, following the US election, may have provided some central banks with the added impetus to accumulate the precious metal, the report pointed out.
RBI has, like other central banks, been buying gold as a safe-haven asset. The strategy of holding gold is primarily aimed at hedging against inflation and reducing foreign currency risks, especially in times of uncertainty triggered by geopolitical tensions.
With the addition of eight tonnes of gold to its reserves in November, the RBI has increased its buying to 73 tonnes in the first 11 months of 2024 and its total gold holdings to 876 tonnes, maintaining its position as the second largest buyer during the year after Poland.
The People’s Bank of China (PBoC) has resumed gold purchases after a six-month gap, adding five tonnes of gold to its reserves, increasing its year-to-date net purchases to 34 tonnes and its total reported gold holdings to 2,264 tonnes (5 per cent of total reserves), the report said.
Meanwhile, the Monetary Authority of Singapore was the month’s largest seller, reducing its gold reserves by 5 tonnes, bringing the year-to-date net sales to 7 tonnes and overall gold holdings to 223 tonnes, it added.
The RBI’s gold purchases have shot up by five-fold over the quantity of the precious metal bought in the same period of 2023, according to WGC figures.
According to the data, the RBI’s total gold reserves have now gone up to 890 tonnes, of which 510 tonnes are held in India.
RBI purchased another 8 tonnes of gold in Nov as safe-haven assetIANS
According to WGC, the central banks that bought gold during the month are those of Poland adding 21 tonnes and Uzbekistan buying nine tonnes.
These large purchases of gold by central banks have also been driving up prices of the precious metal in the global market.
More than half of the RBI’s gold reserves are held overseas in secure custody with the Bank of England and the Bank of International Settlements, while approximately a third is stored in the RBI’s vaults in Nagpur and Mumbai.
The Reserve Bank shifted 100 metric tonnes of its gold kept in bank vaults in the United Kingdom to its own vaults in India in 2024 as there was enough domestic storage capacity in the country.
The shifting of the gold reserves is expected to result in a saving in the high fees that were paid for the use of vaults in the UK.
Discover how room rent limits can impact your health insurance claims. Understand their significance for your family’s health coverage and navigate your benefits wisely.
Health insurance is another crucial topic in fiscal and economic management because, in India, it is common to incur costs that are beyond what a patient can afford. Due to this health inflation exponential growth, it is crucial to know some of the contingencies that can affect your health insurance claim. One of such factors includes the room rent ceiling. Read on to learn more about room rent limits, what to consider, the drawbacks and common questions that can help you understand this part of your family health insurance.
In health insurance, what does the Room Rent Limit mean?
Room rent limit is that part of your health insurance policy where the insurance company has put constraints on the number of charges that will be incurred from a particular type of room you will be hospitalised in.
In India, hospital room rent costs vary significantly depending on the type of room (general ward, semi-private, private), the location of the hospital (metro city vs. tier 1 city), and the hospital’s overall reputation, with a typical range from Rs.1400 per day for a general ward in a tier 1 city to Rs.8800 per day for an ICU room in a major metro city; however, it is crucial to consider the “room rent limit” in your health insurance policy, which caps how much your insurance will cover for room rent per day, often expressed as a percentage of your sum insured.
Key points about hospital room rent costs in India: There are some very important things that you need to keep in mind when comes to room rents. Let us see a few:
1. Room types:
General Ward: The most affordable option, often with multiple beds in a shared room
Semi-private room: A room with a few beds, usually more comfortable than a general ward
Private room: A single-bed room with more privacy and amenities. Many hospitals in metro cities have subcategories under these as well like suites etc.
ICU (Intensive Care Unit): Highly specialised rooms for critical patients, with the highest room rent
2. Location impact:
Metro cities: Generally higher room rates due to higher demand and cost of living
Tier 1 cities: Moderate room rates
Rural areas: Lower room rates
3. Health insurance and room rent limit
Room rent cap: Most health insurance policies have a “room rent limit” which specifies the maximum daily amount they will cover for room rent
Proportionate deduction: If you choose a room exceeding your room rent limit, your entire hospital bill might be adjusted proportionally downwards
4. Example room rent costs (per day)
General Ward (Tier 1 city): Rs. 1,200 – Rs. 1,500
Semi-private room (Metro City): Rs. 3,000 – Rs.4,000
Private room (Metro City): Rs. 5,000 – Rs.6,000
ICU (Metro City): Rs. 8,000 – Rs. 10,000
Factors to Consider
One important aspect which deserves a look specifically when selecting your health insurance policy is the room rent charge since it defines how much you will have to pay from your pocket in case of hospitalisation. Some factors to consider include:
1. Personal preferences: Some use private or semi-private to be comfortable and have their privacy while others may use the general ward if they want to spend less money. According to your taste, it is better to select a policy.
2. Medical requirements: In some circumstances, your doctor may suggest that you take a particular kind of room mainly due to your illness or ailment. In such circumstances try to find out the limit on room rent which is available within your health insurance policy so that they should not deny the claim for the recommended room.
3. Network hospitals: Another factor to consider is whether your chosen or your doctor’s hospital is accredited by the insurance service provider. There are three-tiered limitations involving room rent depending on the hospital, and some insurers deal with particular hospitals alone.
Limitations For Room Rent Claims
Interestingly, the policy also instituting maximum room rent can be advantageous to policyholders as well as disadvantageous at the same time. This can sometimes lower the cost of your health insurance premiums but always raise your out-of-pocket costs in case of hospitalisation. Some limitations include:
1. Exceeding the limit: In the case you select a room type that goes beyond your policy coverage room rent, then you will need to pay from your pocket and cater for the balance. This can cause additional expenses that are unwanted during any particular time let alone during a disaster.
2. Limited choices: However, selecting a hospital or even a room will be limited due to its low room rent limit. This can be especially pronounced if there are strict requirements for the type of room for your health condition.
3. Unpredictability: These budgets can hinder your ability to estimate the direct costs of a hospital stay or an admission. This could put much pressure and a normal financial burden on your family during this difficult period.
Conclusion
Ceilings on room rents are one of the key features of Indian health insurance policies. However, care should be taken to check your own needs, medical issues that you or your family may suffer from, and the network hospitals in choosing a policy. Besides, although room rent limits assist you to lower your premiums, they might cause you more out-of-pocket costs in the event of hospitalisation. The best way to do this is to compare your needs with the provisions of the policy that you have or that is being offered to you so that you can get the right kind of health insurance coverage for when you need it.
Frequently Asked Questions
1. Can I change my room rent limit after buying a health insurance policy? Some of the insurers may let you alter your room rent limit, in return for a higher premium amount. Still, this may not always be possible, and the choices are sometimes few. Each of these should be selected partway, but ideally, all should reflect an initial choice of policy.
2. Is it possible that there are restrictions on the room rent during all kinds of hospital stay? Many policies have restrictions on the allowable room rent for both elective and medical necessity admissions. But there may be areas where you need to agree to your policy’s terms and conditions first. That is why policy consumers must go through the documents and understand the disclaimers.
3. Can I be allowed to pay higher room rent by paying a premium? Yes, that is true, most insurance companies will allow you to avail a higher limit of room rent charges if you’re willing to pay more for the premium amount. This may be useful if before or during your hospital stay you have some requirements for the kind of room you can be accommodated in. However, one must also take a closer look at how much one can gain financially to create the right cost-benefit analysis.
Disclaimer: The above information is for illustrative purposes only. For more details, please refer to policy wordings and prospectus before concluding the sales
School Holiday List 2025: The 2025 calendar has been released for primary schools in Uttar Pradesh. According to the 2025 holiday calendar, schools in Uttar Pradesh will remain closed for about 119 days. In the year 2025, board schools will run for a total of 234 days and the remaining 12 days have been reserved for board exams.
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New calendar for 2025 released
The 119 holidays falling in 2025 include public holidays, Sundays, winter holidays and summer holidays. According to the calendar released by the Basic Education Officer, children and teachers in the state will get 31 fixed holidays this year. Apart from this, there are 52 Sundays in a year, in which three Sundays are falling on three holidays. Republic Day is on 26 January, Ram Navami on 31 March and Moharram on 6 July Sunday.
Dates for winter and summer vacations released
In 2025, winter holidays in schools will be from 31 December to 14 January. At the same time, summer holidays in the state will start from 20 May and will continue till 15 June. During this time all government and private schools will remain closed. Let us tell you that holidays can also be extended in view of the winter, summer and rainy season in the state.
New calendar 2025
Dates of major festivals
Guru Govind Singh Jayanti is on January 6, Makar Sankranti on January 14, Republic Day on January 26, Sant Ravidas Jayanti on February 12, Mahashivratri on February 26, Holika Dahan on March 13 and Holi on March 14, Eid-ul-Fitr on March 31, Dr. Bhimrao Ambedkar Jayanti is on April 14, Buddha Purnima on May 12, Narak Chaturdashi on October 20, Guru Teg Bahadur Martyrdom Day is on November 24. Bakrid is on June 7, Raksha Bandhan on August 9, Janmashtami on August 16, Anant Chaturdashi on September 6.
7th January 2025 Mumbai, Maharashtra, India In a dynamic financial landscape, the need for innovation is paramount. BHARAT CO-OPERATIVE BANK (MUMBAI) LTD was one of the few banks to implement Finacle as its CBS (Core Banking System) back in the year 2013-2014 with that legacy of being the early mover to adopt technology advancements, BHARAT BANK is now set to redefine the way it serves its customers, by enhancing the overall banking experience while strengthening its operational backbone. BHARAT BANK is proud to announce its technology upgrade to Finacle version 10.2.25, the latest version of the world-renowned core banking system (CBS) by INFOSYS, marking a significant step toward modernization. This upgrade is not just about embracing cutting-edge technology but is also part of a broader vision to enhance customer satisfaction, streamline operations, and set the stage for future growth.
The financial services sector has been undergoing a dramatic shift with the increasing reliance on digital tools and automation. The bank has recognized the need to evolve and adapt to meet these changing demands. By upgrading to Finacle 10.2.25 version, BHARAT BANK aims to deliver an improved banking experience for customers. Finacle latest version 10.2.25’s robust features will provide customers with greater ease of access and faster processing times and also creating a seamless experience across multiple touch points—whether mobile, online, or in-branch.
Operational excellence is a key area where the upgrade to Finacle 10.2.25 version will have a transformative impact. Finacle 10.2.25 offers an advanced suite of features that will streamline the bank’s operations, improving back-office processes and reducing manual intervention. With enhanced automation and integration capabilities, the bank will be able to manage transactions more efficiently, reduce errors, and speed up service delivery. This, in turn, will ensure that resources are utilized effectively, improving both productivity and cost-efficiency.
The new system’s ability to manage complex banking operations with precision will also play a vital role in strengthening risk management, compliance, and governance protocols. These improvements will enhance the bank’s ability to provide accurate and timely reporting, ensuring that regulatory requirements are consistently met. As a result, the bank can continue to foster transparency and trust with its customers, reinforcing its commitment to responsible and ethical banking practices.
This upgrade is not just about addressing current needs; it is also about preparing the bank for future growth. The adoption of Finacle 10.2.25 positions the bank as a forward-thinking institution that embraces the potential of digital transformation. The platform’s scalability and flexibility will enable the bank to introduce new products and services in a more agile manner, catering to the ever-evolving needs of the market.
The new CBS also supports the integration of emerging technologies this will allow the bank to offer more personalized financial products and services, and make data-driven decisions that enhance business outcomes. By leveraging these advanced technologies, the bank is setting the stage for a more innovative, responsive, and customer-centric approach to banking.
When spoken to Mr. Yashodhara D. Poojary, the Head of CBS at BHARAT BANK, he highlighted that the upgrade of Finacle version 10.2.25 marks a significant milestone in their journey towards becoming technologically advanced and customer-centric institution. With this upgrade, the bank is not only enhancing its operational efficiency but also delivering an exceptional and seamless experience for its customers. In addition to technological advancements, the bank has implemented increased security measures to ensure the safeguarding of sensitive data and compliance with evolving regulatory norms. By adhering to the latest standards in data protection and privacy, the bank ensures that it meets the demands of the new age world, providing both security and trust to its customers. As it continues to embrace new technologies and refine its practices, the bank is determined to position itself as a trusted partner for customers, ensuring they benefit from the best in banking services while maintaining the highest levels of security and compliance.
The bank is working to support the new upgrade of Core Banking System (CBS) transformation, which is in the phase of initiation by the technology department. The management is focused towards driving excellent banking experience to its customers in the days to come.
Amit Bhandari is the Founder and CEO of tezbid.com, a leading Indian portal dealing in antique coins and banknotes
Gold and silver have always been popular with Indians – for investments as well as gifting. A recent report said that Indians hold an estimated 24,000 tons of gold collected over generations – worth over 2 trillion dollars at current prices! The ancestral wisdom is borne out by numbers – in the past 12 months, gold prices have gone up by 22% while silver is up by 32% – whereas Nifty has gone up by just under 10% over the same period. The lesson is clear: a long-term investment portfolio must have bullion in addtion to stocks.
While there are many ways to invest in bullion – hallmarked bars, exchange traded funds etc, the easiest and increasingly popular way is via antique coins. Prior to the Second World War, most of the major world economies – India, UK, USA etc, used silver coinage for everyday transactions. These coins were minted in massive quantities – hundreds of millions in some cases, and continue to be widely available at affordable prices.
Antique gold and silver coins are becoming more popular with investors, as they combine bullion value with historical significance
Coins as an Investment
As a coin collector for over two decades, and now the founder of tezbid.com, I have interacted with hundreds of collectors – and I find an increasing interest in antique silver coins in the past few years, not only from collectors but also investors. Antique coins combine bullion value with historical significance, making them more popular with collectors. Collectibles such as art, anqtiques and old coins are a well established asset class in mature economies, and are fast gaining that status in India as well. Within these ‘alternate’ asset classes, coins are perhaps the most mainstream – with a large, liquid market and transparency in prices. Multiple catalogues, auction houses and online platforms provide a good estimate on coin values. Another advantage is that old coins are not wildly expensive – unlike art or real estate. You can buy coins for a few thousand rupees – or higher amounts depending on your budget – something not easy to do with many other investments.
The most popular coins amongst Indian collectors are British Indian silver rupees – because they are the most common. However, in the past few years, I have also seen coins of Indian kingdoms such as Kutch and Travancore, and the Maratha empire gain in popularity – with a corresponding rise in prices. Another category that has become very popular with collectors is Indo-Portuguese coins – coins of Goa and other Portuguese posessions in India. Tezbid.com has the largest online collections of coins of Indian kingdoms such as Kutch, and coins of Goa.
A 100 year old silver one-rupee coin from British times (say 1920s) will have a bullion value of over Rs 900 at today’s prices, while a silver coin from 1940s (80 years old) will have a bullion value of over Rs 500 – meaning compounded annual growth rate of 7% and 8% respectively! The actual value is higher due to their historical significance. Few assets or asset classes can survive for this long – even blue chip companies don’t last that long! For rarer coins such as coins of Goa, and Indian kingdoms such as Kutch and Travancore, the gains are even higher.
The India Story
There is another factor working in favor of Indian coins, as well as other collectibles: India’s growing economy. In the year 2000, India’s economy was the thirteenth largest in the world. It is now the fourth largest – behind the USA, China and Germany, having pushed Japan out of the fourth spot. By 2030, India is projected to climb to the third spot, after the US and China. As India grows, Indians will also get better off and spend more on leisure – including hobbies and collections.
As the Chinese economy boomed in the early 2000s, prices of Chinese antiques shot up as newly rich Chinese consumers started to snap them up. It is natural that newly prosperous Indians will have a greater interest in their own history – a factor which will provide an added boost to Indian collectibles. To some extent, this trend is already evident – older Indian coins and banknotes are more valuable than their counterparts from neighbouring countries such as Pakistan, Nepal and Sri Lanka. This trend is going to become more pronounced over time.
UP Fog And Cold Alert: The situation has become even more serious due to cold and fog in Uttar Pradesh . Dense fog prevailed in the entire state including the capital Lucknow on Sunday.
The minimum temperature of Lucknow was recorded at 5 degrees Celsius and fog along with cold winds forced people to hide in their homes. The Meteorological Department has issued a red alert for cold wave in 30 districts and dense fog in 47 districts. Due to this, visibility has been limited to 50 meters, which has affected traffic.
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Effect of cold wave and dense fog
According to the Meteorological Department, cold wave conditions may persist in Chandauli, Varanasi, Ghazipur, Azamgarh, Mau, Gonda, Lakhimpur Kheri, Sitapur, Farrukhabad, Kannauj, Shamli, Muzaffarnagar, Baghpat, Meerut, Aligarh, Mathura, Hathras, Kasganj, Etah, Mainpuri, Amroha, Moradabad, Rampur, Bareilly, Pilibhit, Shahjahanpur, Sambhal, Badaun, Mahoba and surrounding districts. At the same time, dense fog will be felt in districts like Banda, Chitrakoot, Prayagraj, Fatehpur, Sonbhadra, Chandauli, Varanasi, Gorakhpur, Deoria, Basti, Gonda, Hardoi, Farrukhabad, Kanpur, Lucknow, Rae Bareli, Meerut, Ghaziabad, Bulandshahr, Aligarh, Mathura, Hathras, Kasganj, Agra, Firozabad, Mainpuri, Etawah, Jalaun, Mahoba, Jhansi.
Impact on traffic
Trains and flights are getting delayed due to fog and cold winds. Many trains have been rescheduled and some flights have also been affected. Travelling can be risky due to lack of visibility in railway and road traffic. Travellers have been advised to check their travel status before travelling and take extra precautions.
Weather department warning
The Meteorological Department has advised to be extra cautious due to cold wave and dense fog across the state. He said that for the next few days the maximum temperature of the day may remain below normal and dense fog may occur in the morning. During this time, drivers have been advised to keep their speed slow and use the vehicle lights properly.
Advice to be cautious
Due to fog, there is a need to be extra cautious while traveling on the road. Passengers have been advised to get information about their travel status at the railway station and airport and stay updated about train and flight delays. The effect of cold and fog is increasing in Uttar Pradesh. The red alert issued by the Meteorological Department has advised people to be cautious in many parts of the state. In such a situation, all citizens need to take precautions to avoid this havoc of cold and fog.
New Delhi, 6th Jan 2025 : SIA-India is set to host the 3rd DefSat Conference and Expo, scheduled for January 8-10, 2025, at the Manekshaw Centre, New Delhi. With the theme “Integrated Space Capabilities for Multi-Domain Operations,” the event will delve into the nexus of accelerating defence modernization and India’s expanding space ambitions. Gathering over 500 distinguished visionaries, thought leaders, and stakeholders from government, defence, space, technology, international embassies, and homeland security, the conference will highlight the strategic role of disruptive space technologies in modern warfare across land, maritime, aerospace, cyberspace, and homeland security domains. The event is supported by Department of Defence Production, Ministry of Defence, Defence Research and Development Organisation, NewSpace India Ltd, Astronautical Society of India, and Aeronautical Society of India and the Centre for Land Warfare Studies (CLAWS) as a knowledge partner.
“The conference comes at a crucial time as India’s space growth trajectory accelerates its defence modernization and space ambitions, with both sectors projected to grow at a robust 14-16% CAGR. The integration of space technology into defence strategies has become indispensable in today’s geopolitical landscape. The government’s commitment to national security is evident in the allocation of Rs 23,855 crore for DRDO in FY 2024-25 and Rs 25,000 crore for Defence Space Investments, emphasizing the need for advanced space capabilities.” Dr. Subba Rao Pavuluri, President, SIA-India and CMD, Ananth Technologies.
India’s defence forces are significantly enhancing their space capabilities, with plans to launch 52 new satellites for advanced surveillance and secure communication. These satellites will provide strategic support for monitoring activities along the country’s critical borders. The Defence Space Agency (DSA), tasked with managing these critical assets, is also expanding its workforce to address the increasing demands of space operations. This initiative underscores India’s commitment to preparing for the growing complexities of space-centric warfare and ensuring national security in an evolving geopolitical landscape
In Addition, DefSat 2025 will feature a dedicated session on Harnessing Space Technologies for Comprehensive Homeland Security with senior officers from Central Armed Police Forces, State Police Forces, and Para-Military Forces as panellists. This session will explore how space technologies can enhance border management, disaster response, counter-insurgency operations, and law enforcement, especially in India’s diverse and challenging environments.
“DefSat 2025 will spotlight next-gen military technologies, from quantum key distribution and non-kinetic space warfare to AI/ML-powered solutions, all designed to keep us at the forefront of future-ready defence operations. The event leverages India’s commitment to integrating cutting-edge defence and space technologies to address modern security challenges. With highlights like IndSpace Wargame 3.0, the conference will unite defence practitioners, industry leaders, and international experts to simulate real-world space security challenges, showcasing the complexities of space operations and underscoring India’s readiness to navigate the evolving space domain.” – Lt. Gen (Dr) PJS Pannu PVSM, AVSM, VSM (Retd), PhD, Senior Advisor, SIA-India
DefSat 2025 will feature dignitaries, including Lt. Gen. Gurmit Singh, Hon’ble Governor of Uttarakhand, Lt. Gen. Vinod G Khandare, Principal Advisor to MOD, Lt. Gen (Dr) PJS Pannu PVSM, AVSM, VSM (Retd), PhD, Senior Advisor, SIA-India, Dr. Subba Rao Pavuluri, CMD Ananth Technologies and President, SIA-India, Dr. AK Anil Kumar, Director, ISTRAC – ISRO, Lt. Gen. Manjinder Singh, General Officer Commanding-in-Chief, South Western Command, Air Vice Marshal Rahul Bhasin, Assistant Chief of Air Staff (Space), Dr. Subrata Rakshit, Director General (TM), DRDO, AVM Pawan Kumar, DG DSA, Maj Gen Manjeet Singh, Jt Secy (Cyber), NSCS, Mr. Manoj Jain, CMD, BEL, Wg Cdr PRL Prakash, Vice President, Avantel Limited and others.
These leaders bring unparalleled expertise in governance, national security, defence operations, space technology, cybersecurity, and defence policy, strengthening India’s strategic capabilities across defence and space sectors. Their contributions ensure that India’s defence modernization and space ambitions are both innovative and resilient, setting the stage for global leadership in these critical domains.
In addition to these esteemed figures, the conference will feature high-level industry partners, including Ananth Technologies, Planet Labs, Safran, Galaxeye, Dhruva Space, XDLINX, Saptang Labs, Logic Fruit Technologies, ReOrbit, OrbitAID Aerospace, Qbit Labs, Raamtel Solutions, Pvt. Ltd. showcasing their latest advancements in satellite technology, defence systems, and space capabilities. DefSat 2025 is not only a critical gathering for defence professionals but a testament to India’s proactive approach in bolstering its space capabilities to secure its interests on the global stage.
Gurgaon, 06 January 2025: Institutional investments in Indian real estate touched a remarkable USD 6.5 billion inflows in 2024, marking a substantial 22% increase from the previous year’s USD 5.4 billion. This surge reflects strong investor appetite for Indian real estate and marks an annual high for both domestic and foreign investments since 2020.
The fourth quarter of 2024 was particularly robust, with investments totaling USD 1.9 billion—2.3X times compared to the same period in 2023. This end-year momentum contributed significantly to higher investment volumes for 2024. Interestingly, domestic investments were significant in Q4 2024 and accounted for 43% of the inflows during the final quarter. This underscores the growing confidence of India-based institutional investors alongside sustained interest from international counterparts.
In 2024, the Industrial & warehousing segment accounted for the highest share of overall real estate investment volumes at 39%, surpassing the office segment. Manufacturing and industrial growth in the country was robust throughout 2024 and was reflected in the performance of macroeconomic indicators such as the Manufacturing Purchasing Manager’s Index (PMI) and the Index of Industrial Production (IIP). At USD 1.1 billion, the residential segment too witnessed substantial growth, rising 46% compared to 2023 levels. Overall, at USD 4.3 billion, foreign inflows continued to drive annual real estate investments at 66% share, while domestic investments too witnessed a steady rise, surging 27% YoY during the year.
“Private equity investments in Indian real estate have witnessed strong momentum in 2024 buoyed by robust domestic growth and sustained investor confidence. With a record USD 6.5 billion inflows in 2024, Indian realty investments have been the highest since 2020. Interestingly, APAC investors drove almost one-third of the foreign inflows in the country’s real estate during the year. Looking ahead, Tier-I cities will continue to attract the majority of the capital, amidst government impetus on infrastructure development and the ‘Make in India’ initiative. While global investors’ confidence is likely to remain upbeat, 2025 is likely to see increased capital deployment from domestic players across office, residential, and industrial assets,” said Badal Yagnik, Chief Executive Officer, Colliers India.
Industrial & warehousing investments in 2024 surge, 2.9X times compared to 2023
During 2024, institutional investments in Industrial & warehousing segment rose and were almost thrice the inflows in 2023. The segment attracted USD 2.5 billion investments, accounting for 39% of the total inflows, closely followed by the office segment at 36% share. Rising investments in the Industrial & warehousing segment is a testament to healthy domestic activity, enhancements in logistics efficiency, and India’s improving capabilities as a global manufacturing hub. Foreign investments drove over 80% of the total inflows in the segment during the year.
“The year 2024, was a watershed year for real estate investments in India, wherein industrial & warehousing asset inflows surpassed annual investments in the office segment. With USD 2.5 billion inflows, large-sized deals drove industrial & warehousing investments in 2024. Rising demand for superior quality Grade A developments and evolving supply-chain models will continue to incentivise investors in consolidating industrial & warehousing assets in the country. Furthermore, manufacturing scale-up and healthy consumption levels are likely to attract domestic and global investments in both ready-to-use as well as developmental industrial assets, going ahead,” said Vimal Nadar, Senior Director & Head of Research, Colliers India.
Despite subdued activity in the first few quarters of 2024, investments in the office segment picked up pace in the second half of the year. With USD 2.3 billion inflows, the segment accounted for a 36% share during 2024, and closely followed industrial & warehousing segment. Foreign investments accounted for about 77% of the inflows in office segment during the year. Additionally, residential assets too witnessed a notable growth during the year at USD 1.1 billion, witnessing a substantial 46% surge on an annual basis driven by sustained interest from domestic players.
Mumbai drove majority of the annual inflows, with 58% share in office assets
While multi-city deals corresponded to an overall 39% share, Mumbai, with about USD 1.6 billion inflows accounted for 24% of the real estate investments in the country during 2024. At 58%, office segment attracted majority of the annual inflows in the city on account of investment in select developmental assets. This was followed by industrial & warehousing assets which accounted for 20% of the real estate investments in Mumbai during 2024. Investment inflows in Bengaluru, Chennai and Delhi NCR also remained steady and accounted for 8-9% share each during the year.
Chandigarh- Another holiday has been announced in Punjab. According to the information, as per the notification issued by the Personnel Department of the Punjab Government, a holiday has been declared on 14th January 2025 (Tuesday) in Sri Muktsar Sahib district of Punjab in view of Maghi Mela. During this, a local holiday has been declared in all government offices, boards/corporations and educational institutions of Sri Muktsar Sahib. This holiday will be applicable only in Sri Muktsar Sahib.
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Punjab Government Chief Secretary K.A.P. Sinha has issued a notification in this regard. Copies of this notification have been sent to all Special Chief Secretaries, Additional Chief Secretaries, Financial Commissioners, Principal Secretaries and Administrative Secretaries of the Punjab State for information and action. Apart from this, this notification has also been sent to all Heads of Departments, Divisional Commissioners, Registrar of Punjab and Haryana High Court, Deputy Commissioners and Sub-Divisional Superintendents.
Delhi NCR, 06th January 2025: Prestige, a pioneer in kitchen appliances, proudly marks 75 years of its iconic brand. The revolutionary products from this Prestige Brand has transformed the way homemakers cook nationwide, cementing Prestige’s place as a household name and an industry leader.
From its humble beginnings, Prestige has grown to become a market leader across multiple categories, including Pressure Cookers, Gas Stoves, Induction Cooktops, Rice Cookers, and Breakfast Appliances. In the cookware category, brand offers products like casseroles, dosa tawas, roti tawas, grill pans, saucepans, kadhais, fry pans, and idli cookers. Offering a diverse range of kitchen essentials, Prestige has enriched consumers’ lives with innovative solutions. Today, the brand also leads in categories such as mixer grinders and the Tri-ply range of cookers and cookware. This remarkable journey reinforces the company’s commitment to innovation and quality, exemplified by its unique position as the world’s sole manufacturer operating fully automatic plants dedicated to the production of pressure cookers.
TTK Prestige has been honored with multiple prestigious awards, showcasing its excellence and innovation across various categories. Leading the list of accolades is the recognition as a Superbrand 2024 for consecutive 18 Years by Superbrands India Media Private Limited. The brand has also been awarded the India’s Most Trusted Pressure Cooker Brand Award – 2024 and the India’s Most Desired Pressure Cooker Brand Award – 2024 by TRA’s Brand Trust Report. Among the other notable accolades are the Best Use of PR for Crisis Management (Design Infringement) at the CommuniCon Awards 2024 and the New Product Launch – Consumer Durables for the Induction Cooktop with Whistle Counter campaign at the E4M Marketing Awards South. Adding to its achievements, TTK Prestige has also been recognized as the Top 50 Brands Award and under the Evergreen Brand category Leading the evolution in the pressure cooker industry, Prestige has pioneered numerous innovative solutions that have resolved consumer pain-points and transformed their cooking experience. Starting with its outer lid aluminum pressure cookers in 1959, the brand expanded globally in 1974 and introduced the groundbreaking gasket release system in 1982 for improved safety. In 1993, Prestige set new standards for durability with its stainless steel pressure cookers and, in the same year, launched non-stick cookware for health and convenience.
In 2002, Prestige introduced its powerful mixer grinders, catering to diverse kitchen needs. By 2005, the inner lid Handi Pressure Cookers further refined the cooking experience. In 2007, Prestige evolved into a total kitchen solutions brand, and by 2009, it launched unique induction cooktops specifically designed for Indian cooking. The Svachh range, introduced in 2019, further advanced safety and hygiene with modern technology and sleek design.
In 2017, Judge by Prestige brought quality kitchen solutions to value-seeking consumers at competitive prices. Prestige has also been at the forefront of modern kitchen technologies, including the Svachh range of gas stoves designed for cleaner use and the Induction Cooktop with cooker whistle-counting capabilities for enhanced precision. Safety and efficiency were further prioritized with the Safe Sense technology in chimneys, ensuring that users benefit from intelligent heat sensing and automatic shutdown features. In 2023, Prestige launched the Tri-ply Svachh Flip-On pressure cooker with a deep, spillage-control lid, ensuring mess-free cooking and easier cleaning. The recently launched Efficia Gas Stove, with its pioneering 75% thermal efficiency, sets new standards for energy savings and sustainability, surpassing traditional stoves in performance. The brand’s innovations continue to address diverse consumer needs, bringing sophisticated, easy-to-use solutions into kitchens worldwide.
With 5 state-of-the-art manufacturing plants, the presence in over 60,000 retail outlets, and now a strong online presence, Prestige is reaching consumers across the country. It’s exclusive offline presence includes over 700+ company-owned Prestige Xclusive stores in more than 305 cities across 28 states. As an iconic brand, Prestige continues to expand its footprint in India and globally, ensuring its trusted products, designed to meet every need in the kitchen, are accessible to all. The brand remains committed to innovation, offering energy-efficient appliances and smart cooking systems that enhance user convenience and safety, thus building a closer bond with its valued customers.
Reflecting on this momentous occasion, Venkatesh Vijayaraghavan, MD & CEO of TTK Prestige said, “We’ve been an integral part of countless families and homes for generations, adding value to their lives with innovative kitchen solutions for 75 years. We’ve continually pushed the boundaries of innovation with our pressure cooker and kitchen appliances, introducing revolutionary features and setting industry standards. Throughout the years, we’ve stayed true to our four core pillars: safety, health, convenience, and aesthetics. Today, we’ve blossomed into a household name, standing at the forefront of the future, eagerly anticipating the transformations yet to come. For 75 years, we’ve made it our mission to understand Indian homemakers and cater to their every need, but we are still young, with many more hearts and homes to conquer. Here’s to the next chapter of our journey.”
As ‘Prestige’ commemorates 75 years of excellence, the brand looks forward to continuing its mission of innovation and serving the needs of households across India and beyond.
