Repco Bank launches mega deposit mela
The scheme offers 8.25% interest for senior citizens and 7.75% for others, along with special deposits for women and children below 18 years.
She urged residents to utilize this opportunity. The bank reported a record net profit of Rs 140 crore for FY 2024-25 and handed over a Rs 22.90 crore dividend cheque to Union Home Minister Amit Shah in Delhi. Chairman E. Santhanam, Director C. Thangaraju, and MD O.M. Gokul attended the event.
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Indian Express
9 minutes ago
- Indian Express
Rs 50,000-cr worth GST compensation, Rs 8,000 cr under RDF pending: Punjab Finance Minister slams Centre
Punjab Finance Minister Harpal Cheema on Thursday hit out at the central government for not releasing Punjab's share of GST compensation worth Rs 50,000 crore besides withholding Rs 8,000 crore under the Rural Development Fund (RDF). Cheema made the remarks while talking to the media in Delhi as he went to attend the GST Group of Ministers (GoM) meeting. He said that GST had inflicted a Rs 1.11 lakh crore loss on Punjab, with the Centre releasing only Rs 60,000 crore so far, while over Rs 50,000 crore and an additional Rs 8,000 crore under the RDF remained withheld. Slamming the GST, the Punjab Finance Minister stressed that the state would not have suffered such massive revenue losses had it not joined the 'One Nation-One Tax' scheme and in fact it would have received much more revenue. With the compensation cess now scrapped, he called out the BJP government for deliberately wrecking state economies to make them beg before the Centre. 'We honoured the central government's decision (on GST) and stood with the country, but Punjab suffered for it. Along with Punjab, many other states also suffered.' 'On August 20–21, the GoM met continuously for two days. On Wednesday, the meeting was on life and health insurance. In the evening, a meeting was held on compensation cess. The Chairman told us that today the meeting was on rate rationalisation, and that all members of the compensation cess would participate. Therefore, we also participated in Thursday's meeting,' he said. 'GST was implemented in 2017. In the past eight years, there have been 27 amendments in GST, with exemptions given to different sectors. Fifteen times the GST rates of various goods were reduced. This practice has been continuing in the GST Council for the last eight years, and for the past three years I have been witnessing it myself.' Cheema also said that Prime Minister Narendra Modi earlier declared that there would be two GST slabs — one at 5 per cent and another at 12 per cent — and that 'everyone would celebrate Diwali'. 'But after the GST came, who will compensate for the loss suffered by Punjab and other states? Who will pay for this damage? One Nation, One Tax was the scheme of the central government, and all states including Punjab gave their consent. Everyone agreed that uniform tax rates should prevail across the country so that no state could impose higher or lower taxes on its citizens. But this formula has inflicted a huge loss on Punjab.' Emphasising on Punjab's loss, the Finance Minister said, 'In all three meetings of the GST Group of Ministers, I placed Punjab's position. So far, Punjab has lost Rs 1,11,045 crore. Out of this, the central government has given Rs 60,000 crore compensation, but still Rs 50,000 crore remains with the central government. Who will pay this money?' Cheema also said ever since the GST has been introduced, the BJP-led central government has kept making one amendment after another, but never reached a conclusion. 'Taxpayers of the country are being harassed continuously. The system of the country is being destroyed. Several states are continuously losing revenue due to the GST system. The central government has backed away from making up for this loss.' Detailing the latest discussions, Cheema said, 'In Thursday's meeting on compensation cess, the government said that the loans taken to pay states under compensation cess would be fully repaid by October. On harmful goods (sin goods), a special tax was imposed. The states suffering losses in its collection were being compensated. But now the report of the rate rationalisation committee shows that even the tax slab on sin goods is being reduced.' The Finance Minister also claimed that two days ago, another Rs 1,000 crore under the Prime Minister Road Scheme was also stopped. 'In this way, nearly Rs 60,000 crore is pending with the central government against Punjab. This includes the Rs 50,000-crore revenue loss (Punjab faced) after the (implementation of) GST. The central government must immediately release Rs 60,000 crore,' he concluded.
Hans India
22 minutes ago
- Hans India
Floods Leave Rs 1,000 Cr Damage to Roads: Komatireddy Orders Detailed Report
Roads and Buildings Minister Komatireddy Venkat Reddy on Thursday directed officials to prepare a detailed report on the extensive damage caused to State and National Highways by recent heavy rains and floods. At a review meeting held at Dr. B.R. Ambedkar Telangana State Secretariat, officials informed the Minister that losses to the tune of ₹1,000 crore were reported, with several culverts, minor bridges and stretches of highways severely damaged. Komatireddy asked engineers to record the structural life of each asset and submit proposals for reconstruction where necessary. Assuring that the government would provide durable, high-quality roads through the Hybrid Annuity Model (HAM), the Minister said tenders would be floated shortly and works would commence as soon as the monsoon recedes. Taking stock of pending National Highway projects, he told officials to focus on securing early clearances from the Centre. He said he had already held discussions with Union Minister Nitin Gadkari, who had responded positively to the State's requests. Khanapur MLA Vedma Bojju, who attended the meeting along with senior officials, submitted a representation seeking improvements to the Khanapur–Bellampalli and Utnoor–Gudiatnoor road stretches for which the Minister assured a favourable response.
Time of India
25 minutes ago
- Time of India
Gadkari directs NHAI to speed up work on Dehu Road-Narhe elevated corridor
Pune: Union minister for road transport and highways Nitin Gadkari recently directed the ministry and officials from the National Highways Authority of India (NHAI) to expedite the process for the proposed elevated corridor along the Pune–Bengaluru Highway (NH-48) within PMC and PCMC limits. A senior NHAI official said Gadkari instructed them in a meeting on Aug 7. "The proposal will soon be placed before the Union cabinet. The minister has also asked us to simultaneously initiate tendering to avoid delay of the project once the cabinet nod is secured," the official said. The NHAI had prepared a detailed project report (DPR) for the corridor nearly four years ago. The 32-km stretch has been planned between Dehu Road and Narhe in two packages — Dehu Road to Pashan-Sus and Pashan-Sus to Narhe. "Earlier, the flyover under the first package was planned till Balewadi stadium. But considering requests from IT professionals of Hinjewadi and local residents, it was decided to extend it till Pashan-Sus," he said. You Can Also Check: Pune AQI | Weather in Pune | Bank Holidays in Pune | Public Holidays in Pune | Gold Rates Today in Pune | Silver Rates Today in Pune In Aug 2024, Shiv Sena MP from Maval Shrirang Barne raised the issue of project delay in the parliament. Responding to it, Union minister Nitin Gadkari said the delay was due to arbitration issues with the existing concessionaire and that govt was exploring options for a mutual termination of the contract. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like American Investor Warren Buffett Recommends: 5 Books For Turning Your Life Around Blinkist: Warren Buffett's Reading List Undo According to NHAI officials, the 140km stretch between Dehu Road and Shendre village in Satara was maintained by a private concessionaire, which is entitled to collect toll charges. "The legal dispute with the concessionaire is likely to be resolved soon," another NHAI official said. The elevated corridor is vital to ease congestion on the Pune–Bengaluru highway, which remains choked in the PMC and PCMC limits during peak hours. With rapid residential development along the stretch, the highway has become a crucial lifeline linking these areas to the rest of the city. The NHAI is also set to begin widening the service roads within the PCMC limits, expanding them from the existing 12 metres to 24 metres on both sides of the highway, after the monsoon. Civic officials recently razed 110 structures to facilitate the project. Graphics DELAYS AND LEGAL DISPUTES NHAI prepared DPR for the project nearly four years ago The project got delayed and in Aug 2024, Maval MP Shrirang Barne raised the issue in the parliament Following this, the Union minister Nitin Gadkari had said the delay was due to arbitration issues with the existing concessionaire, which has contract with govt to maintain 140km road between Dehu Road and Shendre Village in Satara Officials from the NHAI say the legal disputes with existing concessionaire are likely to be resolved soon GLIMPSES OF THE PROJECT Proposed cost of elevated corridor: Rs 5,500 to Rs 6,000 crore Length of the corridor: 32 km Project will be in two phases First phase: Dehu Road-Pashan-Sus Second phase: Pashan-Sus-Narhe Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
