The Pension Fund Regulatory and Development Authority (PFRDA) will create a dedicated NPS fund-of-funds platform to route pension money into selected alternative investment funds (AIFs), chairman S Ramann said on Tuesday, outlining a broader push to position pension assets as a stable source of long-term capital for India’s private markets. Speaking at IVCA DII & Exits 2025, he said the regulator has spent recent years building clearer classifications and stronger governance for alternate assets, according to PTI.Ramann said PFRDA has now classified all alternate investment instruments into equity and debt, following Sebi’s decision to categorise Real Estate Investment Trusts (REITs) as equity. “Over the last few years, we have worked to classify alternate assets more clearly, strengthen governance structures, and build a centralised and transparent NPS fund-of-funds platform that can select AIFs with rigour and credibility,” he said.He added that such a framework will allow every pension fund — “large or small” — to deploy capital confidently without compromising prudence.Emphasising the role of domestic long-term pools, Ramann said, “India’s next phase of capital formation must be built on strong domestic pools of patient capital. Pension assets, by design, are long-term and stable, and our effort at PFRDA is to create a framework that allows these funds to participate meaningfully in India’s private market growth.”He noted that risk capital is cyclical but argued that a well-diversified AIF portfolio, backed by strong oversight and long horizons, can still deliver beneficial outcomes for NPS subscribers.Ramann said India cannot rely solely on seven- to ten-year fund structures and needs to adopt longer-tenor and perpetual vehicles that reflect the true nature of retirement savings. “If India is to unlock the full power of domestic institutional investors, we must align incentives, deepen trust through process excellence, and enable wider participation from pension, insurance, and retirement assets. The opportunity is immense, and with the right guardrails, domestic capital can become a powerful anchor for India’s long-term growth story,” he said.

NEW DELHI: Indian batter Virat Kohli on Tuesday confirmed that he will be available to play in the Vijay Hazare Trophy starting December 24, news agency PTI reported, quoting DDCA president Rohan Jaitley.Kohli, who now plays only ODIs for India, is currently part of the ongoing series against South Africa. He is set to appear in the Hazare Trophy for the first time since February 2010, when he played against Services.The 37-year-old scored his 52nd ODI hundred in the series opener in Ranchi, showing he remains in rhythm despite featuring in only one format. Earlier this year, he retired from Test cricket. He had also stepped away from T20Is after India won the 2024 World Cup in Barbados.“He has confirmed his availability to play in the Vijay Hazare Trophy. How many games he will feature in, that is not clear yet. Obviously, him being around will be a massive boost to the Delhi dressing room,” Jaitley was quoted as saying by news agency PTI.Delhi will begin their campaign against Andhra in Bengaluru on December 24. They will play six matches in total.Large crowds are expected when Kohli features in domestic cricket. Earlier this year, more than 12,000 spectators attended a Ranji Trophy match when Kohli played his first first-class game in more than 12 years. He used the Ranji game to prepare for international cricket. Later, in a surprise call, he announced his retirement from Tests ahead of the England tour.The BCCI has made domestic participation compulsory for contracted players unless they are injured or on national duty.Rohit Sharma, who also retired from Tests ahead of the England tour, is set to play for Mumbai in the Vijay Hazare Trophy.Both Rohit and Kohli scored runs in the first ODI against South Africa in Ranchi. The match was their first international appearance in months after the tour of Australia. Kohli did not score in the first two games of that series in Australia, but hit a half-century in the final ODI. Rohit had scored a hundred in the same match in Sydney.

Silver’s blistering ascent in 2025 has pushed it into uncharted territory, with the white metal crossing Rs 1.8 lakh per kg on Monday and delivering 103% returns — a surge that now places it alongside just 20 multibagger stocks, according to an ET analysis. Once regarded primarily as a hedging asset, silver has eclipsed not only gold but also most shares on the BSE and NSE this year.Analysts say the momentum shows little sign of cooling. Ponmudi R, CEO of Enrich Money, expects domestic prices to test Rs 1,81,000–Rs 1,85,000 in the near term, noting that March futures are hovering near a key hurdle at Rs 1,79,000–Rs 1,80,000. A breakout above this band, he said, could drive the next leg of the rally.Anuj Gupta, Director at Ya Wealth Global Research, also projects silver ending the year near Rs 1,82,000. On Monday, MCX silver futures settled at Rs 1,81,461 after scaling a fresh lifetime high of Rs 1,82,998.The outperformance comes against a backdrop of broader market churn. ET screening of stocks with a market capitalisation above Rs 1,000 crore shows a handful of names delivering exceptional gains this year. Leading the list is Elitecon International, an FMCG major with interests in tobacco and food & beverages, which has surged 746%. It is followed by Kothari Industrial Corporation with 561%, and the group’s fertiliser arm with 376%.A long roster of smallcaps — Cupid, Indo Thai Securities, NACL Industries, Force Motors, ASM Technologies, Lumax Industries, Lumax Auto Technologies, GRM Overseas, Apollo Micro Systems, Axiscades Technologies, Tourism Finance Corporation of India (TFCI), Gabriel India, SML Mahindra, AB Infrabuild and CarTrade Technologies — have clocked returns ranging from 108% to 334%.Two midcaps, L&T Finance and Aditya Birla Capital, have gained 130% and 101%, respectively, in 2025. For perspective, the BSE saw 4,455 stocks trade on Monday.Silver’s stellar run has been supported by hopes of a US Federal Reserve rate cut and a weakening Dollar Index (DXY). The DXY has fallen 0.82% over the past five sessions as of December 1 and is down 8.5% this year against a basket of six major currencies. A Reuters report quoted BofA Global Research forecasting a 25-basis-point Fed cut in December, citing soft labour market data and dovish signalling from policymakers. Two more cuts are expected in 2026.A rate cut typically aids non-yielding assets such as gold and silver. Expectations of stronger industrial demand have added to silver’s appeal, while domestic prices have been bolstered by the weakening rupee. Gupta of Ya Wealth said the INR has depreciated 4.6% against the US dollar, keeping import prices elevated and supporting local bullion rates.Historically, silver last posted standout returns of 46% in 2020, with 2019 delivering 20%. Between 2022 and 2024, the metal gained 11%–17%, while 2021 was an exception, logging an 8% decline.Gupta believes silver will continue to outpace gold and sees prices touching Rs 1,90,000 ($80) by March 2026 and Rs 2 lakh ($100) by Diwali 2026.On the charts, Apurva Sheth, Head of Market Perspectives and Research at SAMCO Securities, said silver has broken out of a consolidation phase between $46 and $54, with the broader uptrend remaining intact. He believes conditions now point to the possibility of another leg higher.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)

India holds a 1-0 lead in the three-match ODI series against South Africa after a thrilling 17-run victory in the Ranchi opener, where Virat Kohli’s masterful 135 propelled them to 349/8 before the bowlers held firm. The second ODI at Shaheed Veer Narayan Singh International Stadium in Raipur on Wednesday (December 3) promises another high-stakes clash, with the hosts aiming to seal the series and the Proteas desperate to level it.

India, led by KL Rahul, may retain their winning XI from Ranchi or swap Washington Sundar for Rishabh Pant to bolster batting depth, with Rohit Sharma, Kohli, and Yashasvi Jaiswal setting the tone up top.

Key performers like Harshit Rana (early breakthroughs) and Kuldeep Yadav (middle-overs control) will target South Africa’s resilient lower order. South Africa, captained by Temba Bavuma, relies on Quinton de Kock’s explosiveness and Marco Jansen’s all-round threat after his 70 in the first game, potentially persisting with their lineup featuring Aiden Markram and Keshav Maharaj.

IND vs SA, 2nd ODI: Match Details

• Date and Time: December 3; 01:30 pm IST / 08:00 am GMT
• Venue: Shaheed Veer Narayan Singh International Stadium, Raipur

IND vs SA, Head-to-Head Record in ODIs

Matches Played: 95 | India won: 41 | South Africa won: 51 | No results: 03

Shaheed Veer Narayan Singh International Stadium Pitch Report

The Shaheed Veer Narayan Singh International Stadium in Raipur offers a balanced pitch for the India vs South Africa 2nd ODI, blending opportunities for batters and bowlers. It provides good bounce and carry from the outset, aiding fast bowlers like Krishna and Jansen with early seam movement and swing under day-night conditions starting at 1:30 PM local. As the game progresses, the surface eases for strokeplay, allowing middle-order stars like Kohli and Markram to dominate, though spinners such as Kuldeep and Maharaj can find grip and turn in the middle overs. The sole prior ODI here in 2023 saw New Zealand bowled out for 108 before India chased 111/2, hinting at chasing advantage, especially with potential dew. Expect competitive scores around 250-300, making toss crucial.

Squads

India: KL Rahul (c), Rohit Sharma, Virat Kohli, Yashasvi Jaiswal, Tilak Varma, Rishabh Pant, Washington Sundar, Ravindra Jadeja, Kuldeep Yadav, Dhruv Jurel, Nitish Kumar Reddy, Harshit Rana, Ruturaj Gaikwad, Prasidh Krishna, Arshdeep Singh.

South Africa: Temba Bavuma (c), Aiden Markram, Dewald Brevis, Nandre Burger, Quinton de Kock, Marco Jansen, Tony de Zorzi, Rubin Hermann, Ottneil Baartman, Corbin Bosch, Matthew Breetzke, Keshav Maharaj, Lungi Ngidi, Ryan Rickelton, Prenelan Subrayen.

Also READ: “I’d be lying if…”: KL Rahul on India’s nervy win over South Africa in Ranchi ODI

IND vs SA, 2nd ODI: Match Prediction

Case 1:

• India wins the toss and bowls first
• South Africa’s powerplay score: 60-70
• South Africa’s total score: 300-310

Case 2:

• South Africa wins the toss and bowls first
• India’s powerplay score: 70-80
• India’s total score: 330-340

Match result: Team bowling first to win the game.

Also WATCH: Virat Kohli’s passionate celebration lights up Ranchi after Kuldeep Yadav’s crucial wicket during 1st ODI

Rohit Sharma, left, and Virat Kohli greet each other between the wickets during the first ODI cricket match of a series between India and South Africa, at JSCA International Stadium Complex, in Ranchi, Jharkhand. (PTI Photo)

NEW DELHI: India heads into the second ODI against South Africa in Raipur on Wednesday with a mix of confidence and questions. Confidence, because Virat Kohli’s imperious 52nd ODI century and Rohit Sharma’s brisk 57 paved the way for a 17-run win in the series opener at Ranchi. Questions, because off the field, whispers about differences with head coach Gautam Gambhir have grown louder.Kohli and Rohit are not just playing to win games—they are also auditioning for the 2027 ODI World Cup, two years away in South Africa. Having set up two consecutive victories for India in last as many ODIs—including a nine-wicket hammering of Australia at Sydney in October—Kohli and Rohit have shown they will do everything possible to be on that flight to the World Cup in South Africa. Both chairman of selectors Ajit Agarkar and Gambhir have remained non-committal about their World Cup participation, which seems to be at the centre of simmering tensions.On the field, India’s combination still looks unsettled. Ruturaj Gaikwad, a consistent performer in List A cricket, was moved from opening to No. 4. He didn’t look completely comfortable, while stand-in captain KL Rahul held firm at No. 6. Washington Sundar, who has seen plenty of batting experiments, batted at No. 5 and fell during a slow phase for India. He bowled only three overs for 18 runs.Harshit Rana made his mark with two early wickets using the new ball but leaked runs in the latter stage. The ICC’s rule allowing only one ball to be continued from the 34th over adds another layer of challenge for bowlers. Kuldeep Yadav’s variations won India crucial wickets, ending with 4/68, making the difference in a match South Africa nearly stole.Speaking of South Africa, they showed resilience after being reduced to 11/3. Marco Jansen tore into the Indian attack for a 70 off 39 balls, while Matthew Breetzke scored 72 on his first ODI against India. Their tail, led by Corbin Bosch, made India sweat before eventually falling short.The Proteas were without regular skipper Temba Bavuma and Keshav Maharaj, rested after their historic Test series win. Their return is expected in Raipur.Raipur itself is not a well-trodden path for India. In the only ODI previously played here, India dismantled New Zealand for 108 in January 2023 and won by eight wickets. In the only T20I here, against Australia in December 2023, India posted 174/9 and won by 20 runs.

Harshit Rana during the first ODI cricket match of a series between India and South Africa, at JSCA International Stadium Complex, in Ranchi, Jharkhand. (PTI Photo)

NEW DELHI: Harshit Rana, who has entered the India setup across formats during Gautam Gambhir’s tenure as head coach, said he is not affected by claims that he is receiving preferential treatment. The fast bowler said he avoids outside conversations and focuses only on his work on the field, as India prepare for their next ODI in Raipur.Harshit Rana said he does not pay attention to claims that he is getting preference from India head coach Gautam Gambhir, adding that such talk affects performance and he prefers to stay focused on his cricket.

Rana, 23, has made his India debut in all formats during Gambhir’s stint, beginning with the Perth Test on last year’s Australia tour. His returns have been mixed so far, but Gambhir has continued to support him.“If I start listening to all these things, put them in my mind and take the field, I won’t be able to play cricket,” Rana said when asked about criticism, including from social media. “I try to avoid as much as possible. I just pay attention to what I have to do on the ground. I don’t care about what is happening outside or what someone is saying about me. I just focus on my hard work and what I am going to do on the ground,” he said ahead of India’s training session at the Shaheed Veer Narayan Singh Stadium in Raipur.Rana took 3/65 in the first ODI in Ranchi, taking two early wickets before slightly losing control later in South Africa’s chase.He said he is working with bowling coach Morne Morkel and Arshdeep Singh to improve his new-ball skills.“With the new ball I am practicing a lot with Morne (Morkel) and I keep talking to Arshdeep a lot. I feel that Arshdeep has a lot of experience and he keeps helping and guiding me during practice,” Rana said.On the one-ball rule after the 34th over, Rana said the team checks which of the two balls has aged more before choosing.“You know that bowlers do not get so much help in today’s cricket so this rule is very helpful for us and it is always on the mind to see which ball is getting older. And everyone is involved in choosing that ball,” he said.Rana also said the presence of senior players Virat Kohli and Rohit Sharma has supported his growth.“It’s a big deal for me and obviously, for the whole team because if such experienced players stay with you in the field and in the dressing room, then the environment of the team is very good.”

Russia on Tuesday said it is ready to address India’s concerns over the widening trade deficit and proposed building a framework to shield bilateral commerce from pressure by third countries. Kremlin spokesperson Dmitry Peskov, speaking ahead of President Vladimir Putin’s visit to New Delhi, said Moscow is also working to stabilise crude supplies after a brief dip linked to Western sanctions, according to PTI.Peskov told reporters during a video-streamed news conference that Friday’s summit between Putin and Prime Minister Narendra Modi will focus on strengthening trade, energy cooperation, small modular nuclear reactors and additional defence projects. Putin is scheduled to arrive on Thursday for the annual meeting.Russia signals efforts to ease trade deficitPeskov acknowledged India’s concern over the large trade gap and said Russia is keen to increase its imports from India. “There is a real imbalance in our trade. We know our Indian friends are concerned about that. We are jointly looking at the possibilities of increasing imports from India. We want to buy more from India,” he said.India’s purchases of Russian goods and services amount to around $ 65 billion, while Russia’s imports from India are around $ 5 billion.He also said Moscow is taking steps to ensure crude supplies remain stable despite the impact of Western restrictions. India’s purchase of Russian oil, he said, may dip only for a “very brief period.”Push for alternative payment systems and sanctions-proof tradePeskov urged the creation of an “architecture” to insulate India-Russia trade from geopolitical pressure. “We should create an architecture of our relationship that must be free of any influence coming from any third country,” he said. He stressed that bilateral trade must be protected from external pressure and that Russia rejects the use of the dollar-denominated global payment system as a “political tool.”He indicated that settlement through national currencies may feature in the Modi-Putin talks. “We understand the pressure on India,” he said, referring to the US.The visit comes at a tense moment in India-US ties, with Washington imposing a 50% tariff on Indian goods and an additional 25% levy linked to New Delhi’s procurement of Russian crude.Defence, nuclear cooperation and technology sharingPeskov highlighted joint production of the BrahMos missile system as a model for high-technology collaboration and said discussions may cover potential supplies of Su-57 fighter jets and additional S-400 air defence systems. He also said cooperation in small and medium nuclear reactors is expected to be part of the talks. Russia has experience producing these systems and is prepared to share the technology with India.On China, Peskov said Russia’s “limitless” partnership with Beijing does not diminish its willingness to deepen ties with India. “We are ready to go as far as India is ready,” he said, adding that Moscow respects India-China relations and hopes both sides resolve their issues to preserve global stability.Ukraine conflict, counter-terrorism and Afghanistan tiesPeskov welcomed recent US mediation efforts in the Ukraine conflict, calling them “very effective” and expressing hope for progress. He said the Russia-Ukraine war will be an important part of the Modi-Putin agenda. “Russia is open for peaceful negotiation; we have to reach our goals. We appreciate the position of India,” he said.He added that Russia is ready to work with India “to combat terrorism,” and said Moscow is strengthening its engagement with Afghanistan. “We’ll continue to develop our relationship with Afghanistan,” he noted.On overall ties, Peskov said Russia is proud to stand “shoulder-to-shoulder” with India during its period of historic growth.