Google is building a new Python team from scratch in Munich, Germany as it plans to replace the old team with cheap labour

Google fires entire Python team for cheap labour: Report

<h2>Google is building a new Python team from scratch in Munich, Germany as it plans to replace the old team with cheap labour</h2>

Tech giant Google has laid off&nbsp; its entire Python team for cheap labour, reported Free Press Journal. As per the report, the firm is planning to hire cheaper labour outside the United States to reduce costs for the company.
<h3>Layoffs by Google</h3>
As per a post by Social.coop on Mastodon (via Hacker News), a former Google Python team member stated that he is deeply saddened by the decision and called it &ldquo;by far the best job&rdquo; in his 20-year career.&nbsp;
Another Google employee said, "it's a tough day when everyone you work with directly, including your manager, is laid off -- excuse me, &lsquo;had their roles reduced&rsquo;, and you're asked to onboard their replacements, people told to take those very same roles just in a different country who are not any happier about it. (It's almost like capitalism isn't actually good and you shouldn't want to live in the US.)&rdquo;.
As per Free Press Journal, Google is building a new team from scratch in Munich, Germany. The US Python team that reportedly has less than 10 members oversaw a large part of the Python ecosystem at Google. The responsibilities of the team included maintaining a stable version of Python at Google, updating thousands of third-party packages, and developing a typechecker.
As per Business Insider, Google has also made job cuts across its real estate and finance departments. The report mentioned that the finance teams affected include Google's treasury, business services, and revenue cash operations. Google's finance chief, Ruth Porat, sent an email to staff saying the restructuring includes expanding growth to Bangalore, Mexico City, and Dublin.
Since January the firm had let go of hundreds of workers across multiple teams including its engineering, hardware and assistance departments as Google is looking to ramp up investment and build its artificial intelligence offerings.
Also Watch: <a href="https://www.editorji.com/business-news/google-cuts-more-jobs-plans-to-shift-some-roles-to-india-amid-cost-cutting-efforts-1713416500887">Google cuts more jobs, plans to shift some roles to India amid cost cutting efforts</a>

The restructure exercise which has lead to sacking 150 employees is aimed at turning the EBITDA profitable, according to Healthify's Co-founder and CEO Tushar Vashist

Healthify lays off 150 employees in restructuring exercise: Report

<h2>The restructure exercise which has lead to sacking 150 employees is aimed at turning the EBITDA profitable, according to Healthify's Co-founder and CEO Tushar Vashist</h2>

Homegrown healthtech startup Healthify has laid off 150 employees which represents about 27% of the entire workforce in a restructuring exercise, reported Inc42. As per the report, employees from sales and product teams were impacted the most by the job cuts that happened last week.
<h3>Layoffs by Healthify</h3>
Inc42 quoted Healthify's CEO Tushar Vashist and said that the restructuring exercise is undertaken with an aim to turn EBITDA profitable.&nbsp;
"In the next 3-4 months, our India business will turn EBITDA profitable and this restructuring was an unfortunate but important step in line with achieving this. We also have to make sure we have enough resource allocation for the global expasion", Healthify co-founder and CEO Tushar Vashist told Inc42.
Meanwhile, the firm has assured severance packages, extended insurance coverages and job placement assistance for the employees who are let go. The Inc42 report mentioned that 2 months of salary is given as severance pay and in some cases, accelerated stock investing period and leave encashment are given.
Healthify in 2021 cut around 150 jobs from various teams including SME (subject matter expert), quality analytics, product and marketing. The health and fitness startup that uses AI to track diet habits, fitness, and weight, as well as provide coaching services was founded in 2012.
Also Watch: <a href="https://www.editorji.com/business-news/tesla-to-layoff-6-000-employees-in-california-and-texas-amid-slowing-demand-report-1713940835339">Tesla to layoff 6,000 employees in California and Texas amid slowing demand: Report</a>
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The average price of 10 grams of 22K Gold stood at ₹66,550 while the cost for 24K gold prices stood at ₹72,600 and 1 kg silver stood at ₹84,000

Gold, Silver Price Today April 29, 2024: Check Latest Rates in Mumbai, Delhi, Chennai, Bengaluru

<h2>The average price of 10 grams of 22K Gold stood at ₹66,550 while the cost for 24K gold prices stood at ₹72,600 and 1 kg silver stood at ₹84,000</h2>

Gold Silver Price Today April 29 2024:&nbsp; Both gold and silver prices declined on the Multi Commodity Index on Monday.
The average price of 10 gram of 22K Gold stood at ₹66,550 while the 24K gold prices stood at ₹72,600.&nbsp;
The rate of 10 grams of 24K gold in Chennai stood at ₹73,530, which was followed by Delhi and Jaipur where the gold costs ₹72,750.&nbsp;
The average price of 1 kg of silver stood at ₹84,000
However, in Chennai, Hyderabad, and Kerala the metal was sold at ₹87,500 followed by Delhi and Mumbai where the metal was sold at ₹84,000
<h3>24 Carat Gold Price Today 29 April (per 10gm) - Indian Top Cities</h3>
Delhi - ₹72,750 Chennai - ₹73,530 Mumbai - ₹72,600 Kolkata - ₹72,600 Bengaluru - ₹72,600
<h3>1 KG Silver Price Today 29 April - Indian Top Cities</h3>
Delhi - ₹84,000 Chennai - ₹87,500 Mumbai - ₹84,000 Kolkata - ₹84,000 Bengaluru - ₹83,500
Gold and Silver prices experience fluctuations influenced by multiple factors, including insights from jewellers. These factors encompass global demand for gold, fluctuations in currency values across nations, prevailing interest rates, and governmental regulations governing the gold trade.
Additionally, global events such as the state of the world economy and the strength of the US dollar relative to other currencies significantly impact gold prices within the Indian market.

The average price of 10 grams of 22K Gold stood at ₹66,250 while the cost for 24K gold prices stood at ₹72,710 and 1 kg silver stood at ₹84,500

Gold, Silver Price Today April 26, 2024: Check Latest Rates in Mumbai, Delhi, Chennai, Bengaluru

<h2>The average price of 10 grams of 22K Gold stood at ₹66,250 while the cost for 24K gold prices stood at ₹72,710 and 1 kg silver stood at ₹84,500</h2>

Gold Silver Price Today April 26 2024: Both gold and silver prices fell for the fifth consecutive day on the Multi Commodity Index on Friday.
The average price of 10 gram of 22K Gold stood at ₹66,650 while the 24K gold prices stood at ₹72,710.&nbsp;
The rate of 10 grams of 24K gold in Chennai stood at ₹73,690, which was followed by Delhi and Jaipur where the gold costs ₹72,860.&nbsp;
The average price of 1 kg of silver stood at ₹84,500
However, in Chennai, Hyderabad, and Kerala the metal was sold at ₹88,000 followed by Delhi and Mumbai where the metal was sold at ₹84,500
<h3>24 Carat Gold Price Today 26 April (per 10gm) - Indian Top Cities</h3>
Delhi - ₹72,860 Chennai - ₹73,690 Mumbai - ₹72,710 Kolkata - ₹72,710 Bengaluru - ₹72,710
<h3>1 KG Silver Price Today 26 April - Indian Top Cities</h3>
Delhi - ₹84,500 Chennai - ₹88,000 Mumbai - ₹84,500 Kolkata - ₹84,500 Bengaluru - ₹83,600
Gold and Silver prices experience fluctuations influenced by multiple factors, including insights from jewellers. These factors encompass global demand for gold, fluctuations in currency values across nations, prevailing interest rates, and governmental regulations governing the gold trade.
Additionally, global events such as the state of the world economy and the strength of the US dollar relative to other currencies significantly impact gold prices within the Indian market.

As BSE is asked to pay a differential fee of Rs 165 crore to market regulator SEBI, its shares saw the biggest decline of 18% since its listing&nbsp;

BSE shares decline 18%, highest since listing over regulatory fee payment

As BSE is asked to pay a differential fee of Rs 165 crore to market regulator SEBI, its shares saw the biggest decline of 18% since its listing 

<h2>As BSE is asked to pay a differential fee of Rs 165 crore to market regulator SEBI, its shares saw the biggest decline of 18% since its listing&nbsp;</h2>

For the first time since its listing, the BSE shares saw the biggest decline of about 18% on Monday after it was asked to pay the regulatory fee to market regulator SEBI. The regulatory fees is based on the annual turnover which is calculated from the 'notional value' of its options contracts.
<h3>Regulatory Fees</h3>
BSE that calculated the annual turnover based on the premium value for options contract will now have to pay the differential regulatory fee for the past period along with interest. Nominal value is determined by multiplying the number of underlying shares by the strike price of a share whereas premium value is the price in the market.
As per CNBC-TV18, BSE has been asked to pay a differential fee of Rs 165 crore, of which Rs 69 crore is from financial year 2007 to financial year 2023, and Rs 96 crore for financial year 2024. Similarly, MCX has also been asked to pay a differential fee of Rs 4.43 crore.
<h3>Brokerages' stance</h3>
Brokerages firm Jefferies in its note wrote, &nbsp;that derivatives make up for nearly 40% of financial year 2025 and 2026 profit estimates. The higher fees can impact its Earnings Per Share (EPS) by 15% to 18%.
"As derivatives volume growth remains ahead of estimates, price hikes and improved premium quality can fully offset the EPS impact," Jefferies wrote in its note. 
The Brokerage has also downgraded the BSE stock to hold from its earlier rating of buy. The target price is cut &nbsp;to Rs 2,900 from Rs 3,000 earlier. BSE stock has risen over 400% in the last 12 months.
Also Watch: <a href="https://www.editorji.com/business-news/markets/tesla-s-shares-drop-below-150-wipes-out-yearly-gains-1713507582727">Tesla's shares drop below $150, wipes out yearly gains</a>&nbsp;
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Ready to further deepen cooperation with China: Elon Musk 

It wasn't clear whether Musk would visit the Beijing International Auto Show, which started from Thursday and will run through this week.

Chinese Premier Li Qiang met with Elon Musk, the CEO of Tesla, in Beijing on Sunday, state media CCTV reported.
According to CCTV, Musk came at the invitation of the China Council for the Promotion of International Trade and met with its president, Ren Hongbin, to exchange views on further cooperation and other topics prior to meeting with Li Qiang.
During the meeting, Li Qiang said that Tesla's development in China is a successful example of China-US economic and trade cooperation.
He said China will continue to work hard on expanding market access and strengthening service guarantees to provide a better business environment for foreign-funded enterprises.
Musk said his company is ready to further deepen cooperation with the Chinese side to achieve more win-win results, citing the good performance of Tesla's Shanghai plant.
It wasn't clear whether Musk would visit the Beijing International Auto Show, which started from Thursday and will run through this week.
Chinese automakers and startups have launched a bevy of electric cars in recent years, some going head-to-head with Tesla and undercutting the American maker on price.
The European Union has launched an investigation into Chinese subsidies for the EV industry that could lead to tariffs on electric vehicles made in China, potentially including Tesla cars.

After scrapping India visit, Elon Musk lands in China

Musk's arrival in China comes amid speculation that he may unveil Tesla's autonomous driving technology in the burgeoning electric vehicle market.&nbsp;

Barely a week after he scrapped his much anticipated India visit to meet Prime Minister Narendra Modi,&nbsp; Tesla CEO Elon Musk arrived in China on April 28. Reuters said in a report that Musk is expected to discuss the roll out of Tela&rsquo;s Full Self-Driving software and permission to transfer data overseas with Chinese officials. Since 2021, Tesla has been storing all data collected by its Chinese fleet in Shanghai as required by Chinese regulators. Musk's arrival in China comes amid speculation that he may unveil Tesla's autonomous driving technology in the burgeoning electric vehicle market.

Amit Chhabra of Policybazaar.com clears the air on the confusion surrounding the omission of the 65-year entry age provision in the new health insurance rules. Chhabra also says that while premium rates will rise but policyholders will see significan

Invest Smart | New health insurance rules will benefit policyholders but premium costs will rise

Amit Chhabra of Policybazaar.com clears the air on the confusion surrounding the omission of the 65-year entry age provision in the new health insurance rules. Chhabra also says that while premium rates will rise but policyholders will see significant benefits

<h2>Amit Chhabra of Policybazaar.com clears the air on the confusion surrounding the omission of the 65-year entry age provision in the new health insurance rules. Chhabra also says that while premium rates will rise but policyholders will see significant benefits</h2>

In the recent episode of Invest Smart, host Avni Raja delved into the intricacies of the latest changes in health insurance regulations. Joined by guest expert Amit Chhabra from Policybazaar, the discussion shed light on the implications of these regulatory tweaks for policyholders.
As of April 1st, significant changes in health insurance regulations have come into effect, leaving many policyholders wondering about the implications for their coverage. These alterations, made by the insurance regulator, touch upon key aspects of health insurance policies, potentially reshaping the landscape for insurers and consumers alike.
One of the most notable changes revolves around the removal of the maximum entry age limit of 65 years for health insurance policies. Amit Chhabra from Policybazaar explained that this move eliminates age-related restrictions, allowing individuals of all ages, including senior citizens, to procure health insurance policies. While this change offers more options for senior citizens, it still remains at the discretion of insurance companies whether to extend coverage based on individual health conditions.
Another significant amendment concerns the waiting period for pre-existing diseases, which has been reduced to three years. Previously, policyholders had to wait longer before coverage for pre-existing conditions kicked in. While this change is favourable for consumers, it may lead to a slight increase in premiums due to the expanded coverage.
Additionally, the moratorium period, during which insurers could reject claims based on non-disclosure, has been shortened from eight years to five years. This move aims to bolster consumer trust in health insurance by providing quicker access to claim settlements, thereby addressing the concerns of policyholders regarding claim denials.
Despite the potential increase in premiums, the changes are primarily geared towards enhancing consumer benefits and increasing transparency within the health insurance sector. Experts advise individuals to carefully evaluate their insurance policies, ensuring adequate coverage by opting for higher sum insured policies and plans without capping on room rent or sub-limits on treatments.
Overall, while these regulatory tweaks may lead to adjustments in premium rates, they ultimately aim to empower consumers with broader coverage and faster claim settlements. As the health insurance landscape evolves, staying informed and making well-informed decisions regarding insurance policies becomes increasingly crucial for individuals safeguarding their health and financial well-being.

Following a 40% salary cuts for those earning above Rs 30,000 per month, Koo has been witnessing an exodus of senior level employees in the recent months

Microblogging site Koo pauses salary payments for April

<h2>Following a 40% salary cuts for those earning above Rs 30,000 per month, Koo has been witnessing an exodus of senior level employees in the recent months</h2>

Microblogging platform Koo has held the April salary payment to all of its employees. The firm has cited financial constraints and an ongoing negotiations with potential strategic partners as the reasons.&nbsp;
<h3>Koo halts salary</h3>
The company spokesperson told the Financial Express that the salaries will be paid post conclusion of the partnership since it requires a fresh capital infusion
&ldquo;We are in talks with strategic partners for Koo. This is taking longer than expected. In order to get the partnership through, we have ploughed in substantial personal funds also to meet past salaries. Salaries will continue to be paid post conclusion of the partnership since this partnership also includes a fresh capital infusion,&rdquo; a Koo spokesperson stated.
As per Financial Express, the company has been witnessing an exodus of senior level employees in the recent months. This after Koo implemented a 40% salary cuts for those earning above Rs 30,000 per month.
<h3>Partnership with Koo</h3>
Financial Express quoted people with knowledge of the matter and said that its talks with news aggregator platform Dailyhunt and short-video app Josh&rsquo;s parent company VerSe Innovation for acquisition fell through.
Koo co-founder Mayank Bidawatka on Thursday took to Linkedin and said that the firm chose to cut the salaries instead of laying off people to survive the situation.
&ldquo;It&rsquo;s painful to cut salaries of people who&rsquo;ve helped build the company. We had the option of either letting a good part of the workforce go or do a haircut for everyone. We did the latter. This way everyone could sustain without having to look for a job at a time when hiring across startups is at its all time low,&rdquo; Bidawatka said in the post.
&ldquo;Koo remains operational. It&rsquo;s very well built and a fully automated product that needs little manual intervention to function,&rdquo; he added.
Since its launch, the organisation has raised $50 million in funding. It is backed by Tiger Global, Accel, 3one4 Capital, Kalaari Capital, and Blume Ventures. Koo which aimed to pose a challenge to X, stopped customer acquisition campaigns since June 2022.
Also Watch: <a href="https://www.editorji.com/business-news/byju-s-faces-salary-woes-as-nclt-delays-hearing-report-1713946511980">Byju&rsquo;s faces salary woes as NCLT delays hearing: Report</a>

WhatsApp, owned by Meta, warns Delhi High Court of exiting India if compelled to breach message encryption under 2021 IT rules. Legal proceedings highlight a clash between user privacy and government regulations.

WhatsApp's big warning: Tells Delhi high court will exit India if asked to break encryption

WhatsApp, owned by Meta, warns Delhi High Court of exiting India if compelled to breach message encryption under 2021 IT rules. Legal proceedings highlight a clash between user privacy and government regulations.

WhatsApp, the popular messaging platform owned by Meta, has warned the Delhi High Court that it may have to exit India if compelled to breach the encryption of its messages. The statement came during a hearing regarding petitions filed by WhatsApp and its parent company, challenging the 2021 Information Technology rules aimed at social media intermediaries.
The contentious IT rules, announced by the central government in February 2021, require social media giants like WhatsApp to implement mechanisms for tracing chats and identifying the origin of information, a move that directly clashes with WhatsApp's end-to-end encryption policy.
During the proceedings, WhatsApp's legal representative, Tejas Karia, emphasized the platform's commitment to user privacy, highlighting that the encryption feature is a key factor behind its widespread usage. Karia asserted that if WhatsApp is mandated to break encryption, it would have no choice but to withdraw its services from the Indian market.
The bench, comprising Acting Chief Justice Manmohan and Justice Manmeet Pritam Singh Arora, acknowledged the complexity of the issue and sought clarity on similar laws in other jurisdictions. Responding to the bench's inquiry, Karia pointed out that no such rule exists elsewhere in the world, emphasizing the unprecedented nature of the central government's demand.
While the court acknowledged the importance of privacy rights, it also recognized the need to strike a balance, particularly in cases involving objectionable content and communal violence.
The matter has been scheduled for further hearing on August 14, as the court awaits the transfer of additional petitions challenging various aspects of the 2021 IT Rules, which were consolidated and transferred from different high courts across the country following a Supreme Court order issued on March 22.
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Hospitality platform Oyo has reportedly hired investment bankers to kickstart the process for a proposed IPO this year. 


Oyo ready to book itself in for an IPO this year, Microsoft also set to check in

Softbank&nbsp;backed Oyo&nbsp;hires investment bankers, here is what you can expect from the IPO

Startup IPO Street

Oyo&nbsp;hires investment bankers, likely to file for DRHP&nbsp;this year as per reports.&nbsp;

Looking to check in to the IPO&nbsp;party on Dalal&nbsp;Street, Hospitality platform Oyo&nbsp;has reportedly hired investment bankers to kickstart the process for a proposed IPO&nbsp;this year.&nbsp; Reports indicate&nbsp;SoftBank-backed Oyo&nbsp;may be looking to raise $1.2 billion dollars, though the size hasn&rsquo;t been finalised yet. <a href="https://www.editorji.com/story/pandemic-pain-pushes-oyo-to-hunt-for-cash-as-it-looks-to-raise-600-million-1621590178233" target="_blank">Oyo&nbsp;</a>is already reportedly in talks with Microsoft for raising funds that would value the company at $9 billion.&nbsp;
Also Watch:&nbsp;<a href="https://www.editorji.com/story/chemplast-sanmar-ipo-analysts-recommed-buy-all-details-here-1628578456987" target="_blank">Chemplast Sanmar&nbsp;IPO: Analysts recommed 'buy'; all details here</a> Ritesh Agarwal-founded firm has&nbsp;SoftBank, Sequoia Capital, Lightspeed India, Airbnb, Didi,&nbsp;Grab as it&rsquo;s investors.

The restructuring exercise is expected to render certain roles redundant leading to the layoffs that will affect 10% of the employees

Ola Cabs CEO Hemant Bakshi resigns; company to cut 10% jobs amid restructuring

<h2>The restructuring exercise is expected to render certain roles redundant leading to the layoffs that will affect 10% of the employees</h2>

Ola Cabs CEO Hemant Bakshi has resigned from his position just after four months of joining the firm, reported Moneycontrol. This comes even as the company is planning a restructuring exercise that will affect at least 10% of the employees.
<h3>Layoffs by Ola Cabs</h3>
As per Moneycontrol, Bakshi's resignation comes into effect immediately. He had joined the ride-hailing firm in January to take care of day-to-day operations.&nbsp;
"With this restructuring, certain roles within the organization will be rendered redundant and could impact as much as 10% of the workforce," a source told Moneycontrol.
The report also quoted a person with the knowledge of the matter and said that Bakshi will be moving out of Ola to pursue interests and opportunities outside of the company. Bhavish Aggarwal will now be taking over the day-to-day operations.
"Ola Cabs&rsquo; CEO Hemant Bakshi would be moving out of Ola to pursue interests and opportunities outside of the company... (Bhavish) Aggarwal will be looking after day-to-day operations and there will be a new appointment soon," the source added.
This comes weeks after Ola Cabs initiated preliminary discussions with investment banks for an IPO. In the last one month, the firm has appointed Kartik Gupta as the CFO and Sidharth Shakdher as the CBO.&nbsp;
Also watch: <a href="https://www.editorji.com/business-news/markets/ahead-of-ipo-ola-electric-slashes-sales-target-report-1701928777053">Ahead of IPO, Ola electric slashes sales target: Report</a>

HCLTech plans to hire 10,000 freshers this year and train 50,000 of its employees in generative AI even with a global slowdown marred by weak client spends, geopolitical shocks, high inflation, and macroeconomic uncertainties

Good news for freshers! HCLTech to hire 10,000 employees this year, says CEO C Vijayakumar

<h2>HCLTech plans to hire 10,000 freshers this year and train 50,000 of its employees in generative AI even with a global slowdown marred by weak client spends, geopolitical shocks, high inflation, and macroeconomic uncertainties</h2>

In some good news for freshers, HCL Tech CEO C Vijayakumar has mentioned that the firm will be hiring 10,000 new employees. He further added that the company's headcount should not come as a surprise because of the company's growth of 5.4% in the current environment.
&ldquo;The headcount addition should not come as a surprise, because we had a good growth of 5.4 per cent in the current environment, so that obviously needs good talent to execute, and that's why our headcount is growing. And coming to FY25, of course, a lot will depend on how the year shapes up. At this point, we've planned at least 10,000 freshers to be hired during this year&rdquo;, Vijayakumar told PTI in an interview&nbsp;
<h3>HCLTech hiring</h3>
Meanwhile, the lateral hiring will depend on the company's performance this year, said Vijayakumar. In the March quarter the company added over 2,700 employees. The CEO also announced plans to fully train 50,000 of its employees in generative AI by the end of this year.
Despite a global slowdown marred by weak client spends, geopolitical shocks, high inflation, and macroeconomic uncertainties, HCLTech reported net profit of Rs 3,986 crore year-on-year for March quarter. Meanwhile, the net profit was down 8.4% on a sequential basis.
In the fourth quarter of FY24, the revenue from operations stood at Rs 28,499 crore, up 7.11% from a year ago. For the full fiscal year (FY24), the company reported a 5.7% rise in net profit to Rs 15,702 crore. The company posted Rs 1,09,913 crore in revenue in FY24, up 8.3% from the previous fiscal.
"Across the industry there is good mix of revenue, which is coming from discretionary spending patterns of clients in this environment that is subdued, which will be visible in FY25. If things change sometime you will have a much better outcome, if things remain similar to what it was in FY24 then you will have subdued growth in FY25," Vijayakumar said.
HCLTech's projected revenue growth of 3%-5% for FY25 is a "good growth" in current environment and probably highest guidance among the tier-one providers, according to Vijayakumar.
[With PTI inputs]
Also watch: <a href="https://www.editorji.com/business-news/it-hiring-plummets-to-14-over-the-last-year-here-s-why-1702390289107">IT hiring plummets to 14% over the last year, Here's why</a>

These holidays, encompassing both national and regional observances, affect various types of banks across the country, including Cooperative Banks, Regional Rural Banks (RRB), Small Finance Banks (SMB), and more

May 2024 bank holidays: Important dates to note for banking activities 

<h2>These holidays, encompassing both national and regional observances, affect various types of banks across the country, including Cooperative Banks, Regional Rural Banks (RRB), Small Finance Banks (SMB), and more</h2>

The Reserve Bank of India has released the schedule of bank holidays for May. As per the holiday calendar, throughout this month, banks will be closed for over 10 days.
These closures encompass public holidays, regional holidays, and the routine shutdowns on the second and fourth Saturdays, as well as all Sundays. During state-specific festivals and lok sabha polls, banks will observe closure only in the respective states.
<h3>Here is the list of bank holidays in May 2024 across India&nbsp;</h3>
May 1: Banks closed in most states on account of labour day. Banks in Maharashtra are closed to celebrate Maharashtra day.
May 7: Due to the third phase of voting for the Lok Sabha polls, banks will be closed in Gujarat, Madhya Pradesh, Goa
May 8: Banks in West Bengal will be closed as the state celebrates Rabindranath Tagore's birthday
May 10: On account of Basava Jayanti/Akshaya Tritiya, banks will be closed in Karnataka
May 11: Banks will remain closed on account of second Saturday&nbsp;
May 13: Banks at Srinagar will remain closed due to polling day
May 16: Banks in Sikkim will be closed due to State day
May 23: To observe Buddha Purnima, Banks will remain closed in major cities
May 25: Banks will remain closed on account of fourth Saturday
May 5,12,19,26: Banks will be closed on all Sundays of the month
Also Watch: <a href="https://www.editorji.com/business-news/april-2024-bank-holidays-important-dates-to-note-for-banking-activities-1711611829653">April 2024 bank holidays: Important dates to note for banking activities</a>

These holidays, encompassing both national and regional observances, affect various types of banks across the country, including Cooperative Banks, Regional Rural Banks (RRB), Small Finance Banks (SMB), and more.

April 2024 bank holidays: Important dates to note for banking activities 

<h2>These holidays, encompassing both national and regional observances, affect various types of banks across the country, including Cooperative Banks, Regional Rural Banks (RRB), Small Finance Banks (SMB), and more.</h2>

The Reserve Bank of India has released the schedule of bank holidays for April. Throughout this month, banks will be closed for a total of 14 days as outlined in the RBI holiday calendar. These closures encompass public holidays, regional holidays, and the routine shutdowns on the second and fourth Saturdays, as well as all Sundays. During state-specific festivals, banks will observe closure only in the respective states, whereas for national festivals such as Id-Ul-Fitr, Ram Navami, and Baisakhi, banks will remain closed nationwide.
Here is the list of bank holidays in April 2024 across India&nbsp; April 1: Banks closed in most states for yearly accounts closing, except Mizoram, Chandigarh, Sikkim, Bengal, Himachal Pradesh and Meghalaya)
April 5: Banks closed for Babu Jagjivan Ram's Birthday and Jumat-ul-Vida in Telangana, Jammu, and Srinagar
April 9: Banks closed for Gudhi Padwa/Ugadi Festival/Telugu New Year's Day/Sajibu Nongmapanba (Cheiraoba)/1st Navratra in Maharashtra, Karnataka, Tamil Nadu, Hyderabad - Andhra Pradesh, Hyderabad - Telangana, Manipur, Goa, Jammu, and Srinagar)
April 10: Banks closed for Ramzan-Id (Id-Ul-Fitr) in Kerala
April 11: Banks closed for Ramzan-Id (Id-Ul-Fitr) (1st Shawaal) in most states except Chandigarh, Gangtok, Kochi, Shimla and Thiruvananthapuram
April 13: Banks closed for Bohag Bihu/Cheiraoba/Baisakhi/Biju Festival in Agartala, Guwahati, Imphal, Jammu, and Srinagar
April 15: Banks closed for Bohag Bihu/Himachal Day in Guwahati and Shimla
April 17: Banks closed for Shree Ram Navami (Chaite Dasain) in Gujarat, Maharashtra, Madhya Pradesh, Orissa, Chandigarh, Andhra Pradesh, Telangana, Rajasthan, Uttar Pradesh, Bihar, Jharkhand, and Himachal Pradesh
April 20: Banks closed for Garia Puja in Agartala

The demand for gold jewellery that makes up around three-quaters of total consumption has been affected due to the swift uptick in prices

Consumer demand for gold likely to fall: World Gold Council

<h2>The demand for gold jewellery that makes up around three-quaters of total consumption has been affected due to the swift uptick in prices</h2>

Consumer demand for gold is likely to be impacted due to the elevated prices, fewer weddings and election-related restrictions, said World Gold Council. As per WGC India Research Head Kavita Chacko, the price stability ahead of Akshaya Tritiya may provide some respite.&nbsp;
<h3>Demand for Gold</h3>
However she also mentioned that gold's continued strong performance this year could encourage investment demand. As per The Economic Times, it took nearly a year for domestic prices to rise from Rs 50,000 per 10gm to Rs 60,000 per 10 gm. However, the rise from Rs 60,000 per 10 gm to Rs 70,000 per 10gm took little more than five months.
The WGC India reseach analyst further mentioned that the gold consumption demand, particularly demand for jewellery has been affected due to the swift price tick. Jewellery gold makes up around three-quaters of total consumption. Consumers are also awaiting stabilization in prices for fresh purchases and to benefit from the windfall gains, some have been resorting to exchanging/selling old jewellery.
Election related restrictions and fewer weddings this year during April-May have impacted the demand. Meanwhile, demand for investment gold options like coins, bars has seen an increase. The WGC attributes this uptick to anticipation of further price rise.
While some jewellers and manufacturers have been booking profits by liquidating stock and diverting gains to other investment avenues, many are facing a liquidity crunch which limits their ability to add to their inventories.
Domestic gold prices continue to trade at a discounted rate to the international prices despite a sharp drop in gold imports in March. Another factor influencing the price is the increased supply of recycled gold.
Gold prices have rallied since mid-February to reach unprecedented levels. Prices rose by 3.1% in April following an 8% surge in March.
Also watch: <a href="https://www.editorji.com/business-news/gold-jewellery-demand-dampens-by-price-surge-1712931850450">Gold jewellery demand dampens by price surge</a>
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