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"Over 10.33 crore women got LPG connections under PM Ujjwala scheme": Hardeep Singh Puri

"Over 10.33 crore women got LPG connections under PM Ujjwala scheme": Hardeep Singh Puri

Malaysia Sun7 days ago
Durgapur (West Bengal) [India], July 19 (ANI): Union Petroleum and Natural Gas Minister Hardeep Singh Puri said that over 10.33 crore women have been provided with free connections of Liquefied petroleum gas (LPG) under the Pradhan Mantri Ujjwala Yojana (PMUY).
He stated that there were 14 crore LPG connections in 2014, and the number of connections has increased to 33 crore as of 2025.
'LPG Connection: Year 2014 - 14 crore and Year 2025 - 33 crore,' Puri said while addressing the gathering here, adding, 'Under the guidance of PM Narendra Modi, the past 11 years have brought an LPG revolution that has ushered in a new wave of change in every sector.'
The Union Minister stated that the cost of a cylinder in India was merely Rs 553, which was lower compared to other LPG-producing countries, such as Sri Lanka and Pakistan.
'As part of this, under the PM Ujjwala scheme, more than 10.33 crore women have been provided free connections. Even today, they get a cylinder for just Rs 553, which is lower than in other LPG-producing countries,' Puri said.
'In contrast, the same cylinder costs Rs 1,204 in neighbouring Sri Lanka, Rs 1,201 in Nepal, and Rs 1,000 in Pakistan,' he added.
Puri said that the number of beneficiaries under the Pradhan Mantri Ujjwala Yojana exceeds 1.25 crore.
'This revolution has not only improved women's health but has also become a significant means of job creation. Clean fuel is now present in almost every kitchen in every country,' he added.
In a veiled attack on the Mamata Banerjee-led West Bengal government, Puri on Friday reiterated that petrol and diesel prices in non-BJP states are ruling above that of BJP-run states.
Speaking in Durgapur, with Prime Minister Narendra Modi alongside on the dais, Minister Puri said petrol and diesel prices are Rs 7-8 per litre lower in BJP-ruled states.
'Our government under PM Modi did not allow fuel prices to rise. In November 2021, May 2022, and March 2024, the central government reduced cess on petrol and diesel, cumulatively by Rs 13 and Rs 16,' the minister said.
'On top of that, our BJP-ruled states also reduced VAT on fuel. In BJP states, petrol and diesel prices are ruling Rs 7-8 per litre lower than non-BJP states,' Minister Puri added.
In a major boost to Oil and Gas infrastructure in the region, the Prime Minister laid the foundation stone for Bharat Petroleum Corp. Ltd (BPCL) City Gas Distribution (CGD) project in Bankura and Purulia districts of West Bengal, worth around Rs 1,950 crore. It will provide PNG connections to households, commercial establishments and industrial customers, and provide CNG at the retail outlets and also create employment opportunities in the region.
The Prime Minister also dedicated to the nation the Durgapur to Kolkata section (132 Km) of the Durgapur-Haldia Natural Gas Pipeline, which has been laid as a part of the ambitious Jagdishpur-Haldia and Bokaro-Dhamra Pipeline, also known as the Pradhan Mantri Urja Ganga (PMUG) Project. (ANI)
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The yield on average interest-earning assets was 5.67%, a decrease of 1 basis point from the linked quarter, mainly due to lower loan PAA. The yield on average interest-earning assets was 5.67%, a decrease of 1 basis point from the linked quarter, mainly due to lower loan PAA. The rate paid on average interest-bearing liabilities was 3.19%, a decrease of 3 basis points from the linked quarter, primarily due to a lower rate paid on interest-bearing deposits, partially offset by the impacts of a higher average balance of interest-bearing deposits, and a higher average balance and rate paid on borrowings. The rate paid on average interest-bearing liabilities was 3.19%, a decrease of 3 basis points from the linked quarter, primarily due to a lower rate paid on interest-bearing deposits, partially offset by the impacts of a higher average balance of interest-bearing deposits, and a higher average balance and rate paid on borrowings. 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BALANCE SHEET SUMMARY Loans and leases totaled $141.27 billion at June 30, 2025, a decrease of $89 million (0.3% annualized) compared to $141.36 billion at March 31, 2025. Loan growth in the General Bank and Commercial Bank segments was more than offset by a decline in loans in the SVB Commercial segment. SVB Commercial segment loans declined $289 million (3.1% annualized), mostly related to Tech and Healthcare Banking, partially offset by growth in Global Fund Banking. SVB Commercial segment loans declined $289 million (3.1% annualized), mostly related to Tech and Healthcare Banking, partially offset by growth in Global Fund Banking. General Bank segment growth of $140 million (0.9% annualized) was largely related to an increase in Wealth, partially offset by a decline in business and commercial loans in the Branch Network. General Bank segment growth of $140 million (0.9% annualized) was largely related to an increase in Wealth, partially offset by a decline in business and commercial loans in the Branch Network. Commercial Bank segment growth of $60 million (0.6% annualized) was mainly related to loans in our Real Estate Finance and Equipment Finance portfolios. Commercial Bank segment growth of $60 million (0.6% annualized) was mainly related to loans in our Real Estate Finance and Equipment Finance portfolios. Total investment securities were $43.35 billion at June 30, 2025, a decrease of $973 million since March 31, 2025 as maturities and paydowns more than offset purchases of approximately $1.06 billion short duration available for sale U.S. agency mortgage-backed securities. Deposits totaled $159.94 billion at June 30, 2025, an increase of $610 million since March 31, 2025 (1.5% annualized growth). 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The $37 million decrease in the provision for loan and lease losses was mainly attributable to a decrease in net charge-offs of $25 million, along with the impact of an $8 million reserve release in the current quarter compared to a $4 million reserve build in the linked quarter. The provision for off-balance sheet credit exposure for the current quarter was $4 million compared to $6 million for the linked quarter, a decrease of $2 million. The provision for off-balance sheet credit exposure for the current quarter was $4 million compared to $6 million for the linked quarter, a decrease of $2 million. Net charge-offs were $119 million for the current quarter, representing 0.33% of average loans, compared to $144 million, or 0.41% of average loans, for the linked quarter. The $25 million decrease was primarily related to lower net charge-offs in the SVB Commercial segment and the Commercial Bank segment. Nonaccrual loans were $1.32 billion, or 0.93% of loans, at June 30, 2025, compared to $1.21 billion, or 0.85% of loans, at March 31, 2025. The increase was mainly due to one individually evaluated nonaccrual credit in the SVB Commercial segment. The allowance for loan and lease losses totaled $1.67 billion, a decrease of $8 million from the linked quarter, as decreases related to Hurricane Helene, other credit quality improvements, and a modest shift in our weighting from the downside to baseline economic scenario were partially offset by higher specific reserves for individually evaluated loans. The allowance for loan and lease losses as a percentage of loans was 1.18% at June 30, 2025, compared to 1.19% at March 31, 2025. CAPITAL AND LIQUIDITY Capital ratios are well above regulatory requirements. The estimated total risk-based capital, Tier 1 risk-based capital, Common equity Tier 1 risk-based capital, and Tier 1 leverage ratios were 14.25%, 12.63%, 12.12%, and 9.64%, respectively, at June 30, 2025. During the current quarter, we repurchased 338,959 shares of our Class A common stock for $613 million and paid a dividend of $1.95 per share on our Class A and Class B common stock. Shares repurchased during the current quarter represented 2.73% of Class A common shares and 2.53% of total Class A and Class B common shares outstanding at March 31, 2025. From inception of the Share Repurchase Program announced in July 2024 ('2024 SRP') through June 30, 2025, we have repurchased 1,456,283 shares of our Class A common stock for $2.89 billion, representing 10.77% of Class A common shares and 10.02% of total Class A and Class B common shares outstanding as of June 30, 2024. The total capacity remaining under the 2024 SRP was $611 million as of June 30, 2025. Additionally, the entire $4 billion capacity remains under the Share Repurchase Program announced on July 25, 2025 ('2025 SRP'). Liquidity position remains strong as liquid assets were $63.62 billion at June 30, 2025, compared to $62.79 billion at March 31, 2025. EARNINGS CALL/ WEBCAST DETAILS BancShares will host a conference call to discuss the company's financial results on Friday, July 25, 2025, at 9 a.m. Eastern time. The call may be accessed via webcast on the company's website at or through the dial-in details below: North America: 1-833-470-1428All other locations: 1-929-526-1599Access code: 819036 Our earnings release, investor presentation, and financial supplement are available at In addition, these materials will be furnished to the Securities and Exchange Commission (the 'SEC') on a Form 8-K and will be available on the SEC website at After the event, a replay of the call will be available via webcast at ABOUT FIRST CITIZENS BANCSHARES First Citizens BancShares, Inc. (Nasdaq: FCNCA), a top 20 U.S. financial institution with more than $200 billion in assets and a member of the Fortune 500TM, is the financial holding company for First-Citizens Bank & Trust Company ('First Citizens Bank'). Headquartered in Raleigh, N.C., First Citizens Bank has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including a network of branches and offices nationwide; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; personalized service and resources to help grow and manage wealth; and a nationwide direct bank. Discover more at FORWARD-LOOKING STATEMENTS This communication contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the financial condition, results of operations, business plans, asset quality, future performance, and other strategic goals of BancShares. Words such as 'anticipates,' 'believes,' 'estimates,' 'expects,' 'predicts,' 'forecasts,' 'intends,' 'plans,' 'projects,' 'targets,' 'designed,' 'could,' 'may,' 'should,' 'will,' 'potential,' 'continue,' 'aims' or other similar words and expressions are intended to identify these forward-looking statements. These forward-looking statements are based on BancShares' current expectations and assumptions regarding BancShares' business, the economy, and other future conditions. Because forward-looking statements relate to future results and occurrences, they are subject to inherent risks, uncertainties, changes in circumstances and other factors that are difficult to predict. Many possible events or factors could affect BancShares' future financial results and performance and could cause actual results, performance or achievements of BancShares to differ materially from any anticipated results expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, general competitive, economic (including the imposition of tariffs or trade barriers on trading partners), political (including the makeup of the U.S. Congress and Trump administration), geopolitical events (including conflicts in Ukraine and the Middle East), natural disasters and market conditions, including changes in competitive pressures among financial institutions and the impacts related to or resulting from previous bank failures, the risks and impacts of future bank failures and other volatility in the banking industry, public perceptions of our business practices, including our deposit pricing and acquisition activity, the financial success or changing conditions or strategies of BancShares' vendors or customers, including changes in demand for deposits, loans and other financial services, fluctuations in interest rates, changes in the quality or composition of BancShares' loan or investment portfolio, actions of government regulators, including interest rate decisions by the Board of Governors of the Federal Reserve Board (the 'Federal Reserve'), changes to estimates of future costs and benefits of actions taken by BancShares, BancShares' ability to maintain adequate sources of funding and liquidity, the potential impact of decisions by the Federal Reserve on BancShares' capital plans, adverse developments with respect to U.S. or global economic conditions, including significant turbulence in the capital or financial markets, the impact of any sustained or elevated inflationary environment, the impact of any cyberattack, information or security breach, the impact of implementation and compliance with current or proposed laws (including the 2025 U.S. budget reconciliation legislation), regulations and regulatory interpretations, including potential increased regulatory requirements, limitations, and costs, such as FDIC special assessments, increases to FDIC deposit insurance premiums and the proposed interagency rule on regulatory capital, along with the risk that such laws, regulations and regulatory interpretations may change, the availability of capital and personnel, and the risks associated with BancShares' previous acquisition transactions, including the acquisition of certain assets and liabilities of Silicon Valley Bridge Bank, N.A. and the previously completed merger with CIT Group Inc., or any future transactions. BancShares' 2024 SRP allows BancShares to repurchase shares of its Class A common stock through 2025. After completion of maximum repurchases under the 2024 SRP, BancShares' 2025 SRP allows BancShares to repurchase shares of its Class A common stock through 2026. BancShares is not obligated under the 2024 SRP or the 2025 SRP to repurchase any minimum or particular number of shares, and repurchases may be suspended or discontinued at any time (subject to the terms of any Rule 10b5-1 plan in effect) without prior notice. The authorizations to repurchase Class A common stock will be utilized at management's discretion. The actual timing and amount of Class A common stock that may be repurchased under the 2024 SRP or the 2025 SRP will depend on a number of factors, including the terms of any Rule 10b5-1 plan then in effect, price, general business and market conditions, regulatory requirements, and alternative investment opportunities or capital needs. Except to the extent required by applicable laws or regulations, BancShares disclaims any obligation to update forward-looking statements or to publicly announce the results of any revisions to any of the forward-looking statements included herein to reflect future events or developments. Additional factors which could affect the forward-looking statements can be found in BancShares' Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and its other filings with the SEC. NON-GAAP MEASURES Certain measures in this release, including those referenced as 'adjusted' or 'excluding PAA,' are 'non-GAAP,' meaning they are numerical measures of BancShares' financial performance, financial position or cash flows that are not presented in accordance with generally accepted accounting principles in the U.S. ('GAAP') because they exclude or include amounts or are adjusted in some way so as to be different than the most direct comparable measures calculated and presented in accordance with GAAP in BancShares' statements of income, balance sheets or statements of cash flows and also are not codified in U.S. banking regulations currently applicable to BancShares. BancShares management believes that non-GAAP financial measures, when reviewed in conjunction with GAAP financial information, can provide transparency about or an alternative means of assessing its operating results, financial position or cash flows to its investors, analysts and management. These non-GAAP measures should be considered in addition to, and not superior to or a substitute for, GAAP measures. Each non-GAAP measure is reconciled to the most comparable GAAP measure in the non-GAAP reconciliation. This information can be found in the Financial Supplement located in the Quarterly Results section of our website at Contact: Deanna Hart Angela English Investor Relations Corporate Communications 919-716-2137 803-931-1854

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