BUSINESSLINE

SUMMARY

When John Pierpont Morgan, Founder of the world’s largest bank by market capitalisation JP Morgan & Co, said ‘Gold is money. Everything else is credit’, little would he have known that no one would come to understood this better than ‘Indian housewives.’

In a recent post on X, veteran banker Uday Kotak lauded ‘Indian housewife’ as the smartest fund manager in the world for importing the ‘forever store of value’ – gold, into the country while the developed markets’ central banks and governments took to money printing. This compliment is well earned if one looks at the staggering numbers.

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