In this week’s wrapup, we bring you the inside scoop on shady gold loan practices, the Unified Pension Scheme, France's debt dilemma, Ola Electric's consumer problems, and last but not least, the 2024 Physics Nobel Prize for AI breakthroughs.

And for this week's markets edition, we wrote about the slump in India's steel sector.

With cheap Chinese imports on the rise, Indian steelmakers are feeling the heat. So, we explain what’s behind these shifts, their impact, and what it means for the broader economy and markets.

Click here to read the full markets story.

Meanwhile, here’s a recap of what we wrote over the week...

Why is the RBI cracking down on gold loans?

The RBI is after banks and NBFCs that are playing fast and loose with gold loans.

Turns out, some of them have been engaging in shady practices, from incorrect gold valuations to sneaking in multiple loans under the same PAN in a year.

Sounds unbelievable, right? Well, even big players like the Bank of Baroda (BoB) and IIFL have found themselves in the RBI's crosshairs.

And you need to check out our Monday story to get the complete scoop on this.

Is the Unified Pension Scheme any better?

At least 15% of both central and state expenditures go toward the pensions of government employees.

Naturally, the government is worried about such a massive expense and it's always on the lookout for ways to ease this burden.

This time, it’s experimenting with the Unified Pension Scheme.

But is it any better? And why are government employees are protesting across states for a return to the Old Pension Scheme (OPS)?

We tell you what’s all the fuss about and how it can affect you in our Tuesday story.

Check it out here.

France is in a debt dilemma

One way to gauge a country’s economic health is by looking at its debt-to-GDP ratio. And according to the World Population Review, if this ratio stays above 77% for too long, it’s not great for growth.

But guess what? France’s debt-to-GDP ratio has shot up to a whopping 110%! That’s $3.5 trillion owed to banks and investors, with more than half of it held by foreign lenders.

Clearly, things aren’t looking good.

So, in our Wednesday newsletter, we wrote about how France landed in this mess and what it’s doing to climb out.

Can Ola Electric regain consumer confidence?

Ola is losing the trust of its customers, and at an astronomical pace.

They say your customers should be your best brand ambassadors. Well, Ola Electric’s customers are certainly ambassadors, but not in the way the company would hope. Instead, they’re actively discouraging other buyers from choosing Ola Electric’s scooters.

Why?!

We’ve covered all of it in our Thursday story. Do give it a read here!

What's up with AI and the 2024 Physics Nobel Prize?

Two pioneers of Artificial Intelligence (AI), John Hopfield and Geoffrey Hinton, have been awarded the 2024 Nobel Prize in Physics.

Yep, AI and Physics! Not exactly what you’d expect, right?

So, we’ve tried to break down how the principles of Physics actually form the foundation of their Nobel-worthy achievements.

Oh, and one of the winners has a connection to the tech giant Nvidia, too.

You’ve got to check out our Friday story here to know more.

Finshots Weekly Quiz 🧩

Here’s your chance to win some exclusive Finshots merch. All you have to do is click on this 👉🏽 link, answer all the questions correctly by 12 noon on October 19, 2024 (Saturday) and tune in to our Sunday newsletter aka Sunny Side Up next week to check if you got lucky.

That’s it from us this week. Have a great weekend!

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