Construction labor will get ₹783 and high-skilled worker will get ₹1035: Gold at all time high of Rs 75,750, gold loan market growing 8.45% annually

Yesterday’s big news was related to minimum wage. The government on Thursday (September 26) ahead of Diwali decided to increase the minimum wage for workers in informal sectors like construction, mining and agriculture. This will come into effect from October 1.

At the same time, Isha Ambani and Parita Parekh have been included as the youngest women in the first list of ‘2024 Hurun India Under 35’. Isha is the non-executive director of Reliance Retail and daughter of Mukesh Ambani. Parita Parekh is the founder of teaching and learning platform Toddle.

Before tomorrow’s big news, today’s major events to keep an eye on…

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1. Government increased minimum wage before Diwali: Construction labor will now get Rs 783 per day, high-skilled workers will get Rs 1035.

The government on Thursday (September 26) ahead of Diwali decided to increase the minimum wage for workers in informal sectors like construction, mining and agriculture. This will come into effect from October 1.

The government says the increase will help workers cope with inflation, as the Consumer Price Index (CPI) for industrial workers has increased by 2.40 points.

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2. Gold at all time high of ₹ 75,750 on Thursday: This week it has become costlier by ₹ 1,657, today silver became costlier by ₹ 1,792 and reached ₹ 92,522/kg.

The price of gold reached an all-time high on Thursday. According to India Bullion and Jewelers Association (IBJA), on September 26, the price of 10 grams of 24 carat gold increased by Rs 502 to Rs 75,750. Earlier on Wednesday (September 25), its price was Rs 75,248 per ten grams. So far this week, gold has become costlier by Rs 1,657.

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3. Sensex made 85,930 and Nifty made all-time high of 26,250: Market closed at 85,836 with a gain of 666 points, shares of auto sector rose the most.

The stock market made an all-time high for the 7th consecutive day on Thursday (26 September). Sensex touched 85,930 and Nifty touched 26,250.

After the day’s trading, the Sensex closed at 85,836 with a rise of 666 points (0.78%). Nifty also increased by 211 points (0.81%), it closed at the level of 26,216.

Out of 30 Sensex stocks, 26 rose and 4 declined. Out of 50 Nifty stocks, 41 rose and 9 declined. Talking about NSE’s sectoral index, auto sector shares had the biggest rise.

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4. Isha-Aakash Ambani in Hurun India Under-35 list: Ankush Sachdeva of ShareChat is the youngest individual entrepreneur, Alakh Pandey of Physics Wala also.

Isha Ambani and Parita Parekh have been included as the youngest women in the first list of ‘2024 Hurun India Under 35’. Isha is the non-executive director of Reliance Retail and daughter of Mukesh Ambani. Parita Parekh is the founder of teaching and learning platform Toddle.

Physics Wala founder and teacher Alakh Pandey is also included in this list released on Thursday, 26 September. Ankush Sachdeva of ShareChat and Akash Ambani of Reliance Jio have been included as the youngest individual entrepreneurs.

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5. OpenAI’s CTO Mira Murati resigned: Two more technical leaders left the company, Altman said – Thanks Mira for everything

The top 3 technical leaders of OpenAI, the company that created ChatGPIT, have resigned from their posts. This includes Chief Technology Officer Mira Murati, Vice President-Research Barrett Joffe and Chief Research Officer Bob McGrew. Murati informed about his resignation on social media platform X.

Meera Murati wrote on X- I have something to share with you. After much consideration, I have made the difficult decision to leave OpenAl. My 6 and a half years with the OpenAl team have been an extraordinary privilege. I am stepping down because I want to create time and space for my own exploration.

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6. Gold loan market is growing at the rate of 8.45% annually: Gold loans worth ₹ 10 lakh crore will be distributed this year, loans are easily available in this.

Gold loans available through banks and NBFCs are increasing by 8.45% annually. ICRA has estimated the distribution of gold loans worth Rs 10 lakh crore in the current financial year 2024-25. The credit rating agency has estimated it to reach Rs 15 lakh crore in the next three years.

AM Karthik, co-group head of ICRA’s Financial Sector Ratings, said, ‘The Reserve Bank has tightened the rules for unsecured loans like personal loans. Meanwhile, due to rising prices of gold, the trend of taking gold loan is increasing in 2023-24.

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7. MG Hector Snowstorm and Astor Blackstorm Limited Edition Launch: 75+ connected features including digital Bluetooth sharing in SUV, price starts at ₹ 13.44 lakh

JSW MG Motor India on Thursday launched two SUVs, Snowstorm Edition of MG Hector and Blackstorm Edition of Astor in the Indian market. To increase its sales in the festive season, the company has launched special editions of both the SUVs with cosmetic changes in the market for a limited time.

MG Hector Snowstorm Edition has been introduced with dualtone pristine white and black paint scheme. Its ex-showroom starting price has been kept at Rs 21.59 lakh. At the same time, Aster Blackstorm Edition has been introduced with black paint scheme. Its ex-showroom starting price has been kept at Rs 13.44 lakh.

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Now read the news you need

No need of KYC in Micro SIP: This is a better option for small investors, even with a minimum investment of ₹ 100, a fund worth lakhs can be created.

If you are planning to invest through mutual funds, but cannot deposit a large amount at one go, then ‘Micro SIP’ (Micro-Systematic Investment Plan) can be a better option for you.

Through this, you can create a fund worth lakhs even with a minimum investment of Rs 100 per month. Most of the fund houses in the country offer plans to start investing with at least Rs 500 or Rs 1000. But some fund houses allow investment even with a minimum amount of Rs 100.

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