National News
Malabar Gold & Diamonds Awarded Scholarships to 350+ Girl Students in Ghatkopar Reinforcing its vision of Women Empowerment
Malabar Group, India’s leading business conglomerate and the parent company of Malabar Gold & Diamonds, reaffirmed its commitment to empowering young women through education by awarding scholarships worth ₹29,00,000 to over 350 deserving girl students across 30+ schools.
The scholarship distribution ceremony was held at Zaverben Popatlal Sabhagruha Auditorium, Ghatkopar, Mumbai, where financial aid was provided to ensure these students can pursue their academic aspirations without constraints. This initiative reflects Malabar Group’s dedication to fostering education and enabling young women to build a brighter future.
The event was graced by the presence of Shri Sanjay Mukund Kelkar, Member of the Maharashtra Assembly, as the chief guest. His participation underscored the importance of collective efforts in promoting women’s education, further strengthening their role in society and helping them achieve a position of dignity and respect.
Speaking in regards to the initiative, MP Ahammed, Chairman, Malabar Group, said, “Providing Education to young girls is the most effective ways of ensuring positive change as education lays the foundation of a progressive nation, and equipping young women with the means and knowledge for betterment is one of the most impactful ways of ensuring a brighter future. These scholarships are not just supposed to be an economic aid to the students; but they are also investments in the future of our society, ensuring that no young girl has to compromise on reaching the pinnacle of her potential, due to financial misfortune”
Since its establishment in 1999, the Malabar Charitable Trust has been at the forefront of numerous social welfare initiatives. Malabar Group dedicates 5% of its annual profits to CSR activities, focusing on education, healthcare, environmental sustainability, and poverty alleviation.
The Malabar Scholarship program, a flagship initiative under the Group’s CSR framework, continues to bridge educational gaps for marginalized communities. By fostering academic opportunities for young girls, Malabar Group aims to create a ripple effect of progress that extends beyond individuals to families and entire communities.
The group’s overarching narrative to support education and skill development across India is further highlighted by this Scholarship distribution event in Mumbai. Malabar Group’s broader mission to support sustained initiatives has seen the Group remain committed to empowering future generations and fostering an inclusive, educated society for all.
National News
Indian Gold ETFs Saw A Sharp Reversal In May:WGC
Outflows Were Likely Driven By Profit-Taking Following The Mid-May Import Duty Hike Of 9% That Pushed Domestic Gold Prices and The Traded Price Of ETFs Sharply Higher
WGC Gold Update shows that Indian gold ETFs saw a sharp reversal in May, mirroring the softer trend seen in global gold ETF flows. Domestic gold ETFs recorded their first monthly net outflow since April 2025: net outflows stood at INR7.25bn (US$76mn), the largest on record in rupee terms. Gross redemptions also rose to a record INR33.30bn (US$348mn), highlighting the scale of selling during the month. Despite this, overall holdings were broadly steady at 116.5t, in line with our estimates, while total AUM stood at INR1,846bn (US$19.3bn).
Outflows were likely driven by profit-taking following the mid-May import duty hike of 9% that pushed domestic gold prices and the traded price of ETFs sharply higher. INR gold prices rose by around 6% soon after the hike, prompting investors to lock in gains. This was also visible in folio data: investor accounts declined by 134,343 in May, the sharpest monthly fall on record, bringing the total number of active folios to 12.3mn. The high redemptions and reduction in folios suggest that some investors used the price rise to trim or exit their gold ETF positions.
But the outflows appear to have been short-lived. Flows turned positive again in early June, with net inflows of INR16.31bn (US$171mn) between 1–11 June, suggesting that investor interest in gold ETFs remains strong.
Separately, several fund houses5 introduced temporary limits on large investments into gold ETFs (with direct subscriptions capped at INR25cr/~US$2.6mn) and gold ETF fund-of-funds (lump-sum investments capped at INR10 lakh /~US$10.6k per PAN per calendar month). Although the fund houses have pointed to prevailing market and economic conditions, these measures come amid broader concerns around gold imports, external balances, currency pressures, and the Prime Minister’s appeal to consumers to curtail their gold buying. Given that large investors account for a sizeable proportion of AUM, the cap on investment could limit inflows into fund houses to some extent, although they can continue to buy from the secondary market where authorised participants and market makers continue to operate and provide liquidity.
By investor category, the Association of Mutual Funds of India (AMFI) data shows that as of March’26, corporates accounted for 58% of gold ETF AUM, followed by high-net-worth individuals (HNI) 31%, and retail 11%.
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