Gold remains a key portfolio asset despite recent surges, and investors may still find opportunities to buy on dips, according to Michael Widmer, head of metals research at Bank of America.“Gold is overbought at the moment, but it is still underinvested,” Widmer told Bloomberg Television. “ETF inflows last month were up 880% year-over-year, and that is ultimately a concern. From a pure fundamental macro backdrop, we’re still looking good. The entry points are coming.”Widmer explained that while gold has rallied sharply in recent months, its allocation in portfolios remains well below historical highs. “The highest we’ve ever had in terms of gold allocation is about 1.1%. Right now we are at half a percent. There is still space to increase,” he said, highlighting the potential for selective investment.He cautioned, however, that rapid inflows into gold ETFs cannot continue indefinitely. “You can’t compound growth at 880% forever. At some stage, you run into an air pocket, and gold might not rally. But fundamentally, it remains strong,” Widmer added.On identifying buying opportunities, he said investors should watch for short-term dips. “Monthly or weekly price movements of $100–$200 could present entry points. Volatility is picking up, so the opportunities are coming,” he noted.Widmer also stressed that gold is not purely a speculative asset but plays a strategic role in diversified portfolios. “It has a theoretical underpinning related to fiat currencies and debt. While it doesn’t perform directly in the real economy, it provides price exposure and portfolio diversification,” he said.He noted that institutional holdings of gold typically range from 10–15% of total assets, depending on the risk-return profile. “For the best portfolios, gold serves as a meaningful diversification tool, offering protection and exposure in times of market uncertainty,” Widmer said.(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India.)

Diwali 2025 bank holidays: As the festive week of Diwali approaches, several states will see a string of bank holidays. However, banks will not remain closed nationwide for three consecutive days, with most closures being state-specific based on regional festivals.

This Saturday, October 18, banks across India will remain open, as it is the third Saturday of the month. No, banks will not be closed on Dhanteras, which also falls on October 18.

Regular banking services will continue nationwide, the only exception is Assam, where branches will stay closed in observance of the Kati Bihu festival.

Monday, October 20: Banks will be closed in multiple states and union territories including Tripura, Gujarat, Mizoram, Karnataka, Madhya Pradesh, Chandigarh (UT), Tamil Nadu, Uttarakhand, Assam, Telangana, Arunachal Pradesh, Rajasthan, Uttar Pradesh, Kerala, Nagaland, West Bengal, Delhi (NCT), Goa, Chhattisgarh, Jharkhand, Meghalaya, Himachal Pradesh, and Andhra Pradesh for Diwali, Naraka Chaturdashi, and Kali Puja celebrations.Tuesday, October 21: Branches in Belapur, Bhopal, Bhubaneswar, Gangtok, Imphal, Jammu, Mumbai, Nagpur, Raipur, and Srinagar will remain shut for Diwali Amavasya, Deepawali, and Govardhan Puja.Wednesday, October 22: Banks in Gujarat, Maharashtra, Karnataka, Uttarakhand, Sikkim, Rajasthan, Uttar Pradesh, and Bihar will be closed for Balipadyami, Laxmi Puja (Diwali), and Vikram Samvat New Year Day.Thursday, October 23: In Gujarat, Sikkim, Manipur, Uttar Pradesh, West Bengal, and Himachal Pradesh, banks will remain closed for Bhaidooj, Chitragupt Jayanti, Laxmi Puja, Bhratridwitiya, and Ningol Chakkouba.

Upcoming state-wise bank holiday schedule:

October 27–28: Banks in Kolkata, Patna, and Ranchi will stay shut for Chhath Puja.Friday, October 31: In Ahmedabad, banks will remain closed to mark Sardar Vallabhbhai Patel’s birth anniversary.

Even on holidays, customers can continue using online banking, ATMs, mobile apps, and UPI platforms for fund transfers, bill payments, and other services.However, in-person services such as large cash deposits, demand drafts, and account settlements will not be available. It’s advisable to plan transactions in advance to avoid last-minute inconvenience during the festive week.

Last Updated:October 18, 2025, 10:48 IST

GSTR-3B Due Date Extension: BCAS says the days leading up to October 19, a Sunday and part of the main Diwali festivities, are typically observed as public holidays across India.

As per the existing schedule, the GSTR-3B filing deadline falls on October 20, 2025, which coincides with the Diwali holiday.

GSTR-3B Due Date Extension News: The Bombay Chartered Accountant Society (BCAS) has urged the finance ministry to extend the due date for filing GSTR-3B returns for September 2025, citing a clash between the statutory compliance deadline and the Diwali holiday.

As per the existing schedule, the GSTR-3B filing deadline falls on October 20, 2025, which coincides with the Diwali holiday. BCAS pointed out that the days leading up to October 19, a Sunday and part of the main Diwali festivities, are typically observed as public holidays across India. This overlap, the society noted, leaves little time for professionals, accountants, and company staff to complete crucial filing processes.

In its representation dated October 8, 2025, BCAS said the shortened compliance window could make it difficult for taxpayers to meet statutory obligations on time. The society highlighted that preparation of Form GSTR-3B involves detailed reconciliation, verification of Input Tax Credit (ITC), and fund arrangements for tax payments — all of which require active coordination among teams that are unavailable during the festive week.

“Therefore, as a significant step towards ease of doing business, it is earnestly requested that the due date for filing GSTR-3B of September 2025 be extended. Granting this essential administrative relief will enable registered persons and tax practitioners to complete the necessary compliance procedures following the conclusion of the festival period, ensuring accurate and complete return filing and promoting adherence to the provisions of the CGST Act without penalising taxpayers for unavoidable circumstances,” BCAS said in its submission.

The society added that the festival-related holidays would hinder access to staff, support services, and banking facilities needed for return finalisation. It also clarified that Nil GSTR-3B returns – permitted only when there are no outward or inward supplies or liabilities for a given period – would not apply to most regular taxpayers for September, reinforcing the need for an operational compliance window beyond the Diwali holidays.

BCAS concluded that a short-term extension of the filing deadline would ease administrative pressure, prevent inadvertent non-compliance, and support the government’s broader goal of improving the ease of doing business.

What Is The Late Fees For GSTR-3B?

Late filing of GSTR-3B attracts a statutory late fee under the Goods and Services Tax (GST) framework. As per current rules, taxpayers who miss the due date are liable to pay Rs 50 per day (Rs 25 each for CGST and SGST) until the return is filed. However, if there is no tax liability for the month (i.e., a Nil return), the late fee is reduced to Rs 20 per day (Rs 10 each for CGST and SGST).

The late fee is calculated from the day after the due date until the actual filing date, subject to a maximum cap of Rs 5,000. In addition to the late fee, interest at 18% per annum is also charged on the outstanding tax amount for the delay period.

Mohammad Haris

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More

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