Latest news with #Govt
Business Recorder
2 days ago
- Business
- Business Recorder
‘Provision of items on control price is top priority'
LAHORE: Secretary Price Control and Commodity Management Department Dr. Ehsan Bhutta has said that Govt. will not compromise on provision of quality of items on control price on the occasion of Eid-ul-Adha. Chief Minister Punjab Maryam Nawaz has has taken serious notice on the high price. They have directed that local administration will ensure to provide quality items on control price. They will make surprise visits to ensure quality items on control price. He was addressing during his visit to Kahna Kacha Market and Sahulat Bazar Wahdat Colony. Secretary Price Control Dr. Ehsan Bhutta had meeting in Market Committee office kahna to check computerized price machine which was out of order. He directed the Secretary market committee to get it repaired and operational immediately. He then visited sheds of Onion, Potatoes & Banana to witness boli system at spot and discussed issues with Arties. He checked cold storages of Bananas too. He desired to have the cleanliness of the whole Mandi including waste bins, sheds etc and ensured drinking water etc. He also checked computerized entry system at gate and directed to gave all entries electronically so that to minimize chances of pilferage. Secretary Market Committee assured to fulfill all directions and Deputy Director Headquarter will submit the compliance report. Later, Dr. Ehsan Bhutta also visited Sahulat Bazar Wahdat Colony. He checked shops and sahulat stalls where special discount given on 10 items before Eid. Checked washrooms cleanliness, CCTV room. Dr. Ehsan Bhutta also directed to provide drinking water and fans as lot of hot weather. He also desired to ensure cleanliness and proper security arrangements. Sahulat Bazar CEO Naveed Rafaqat, Directors and DD Faisal were present alongwith manager wahdat Colony model bazar. Copyright Business Recorder, 2025
Time of India
5 days ago
- Business
- Time of India
RBI posted Rs 3.38 lakh cr income on strong foreign asset returns, forex sales
MUMBAI:RBI's income rose 23% to Rs 3.38 lakh crore in FY25, driven by gains from foreign currency assets and dollar sales in the local market. This helped the central bank transfer a record Rs 2.7 lakh crore to the Govt, up from Rs 2.1 lakh crore in FY24. RBI's balance sheet grew 8.2% to Rs 76 lakh crore in FY25 from Rs 70 lakh crore in FY24. One of the drivers of the rise in assets, was higher gold holdings, as global uncertainty boosted safe-haven demand. The rest came from a larger domestic investment portfolio, supported by OMO purchases for managing liquidity. Overall interest income rose by 12% to Rs 2.11 lakh crore, while gains from foreign exchange transactions contributed to a 47% jump in other income, which stood at Rs 1.28 lakh crore. The RBI's total income for the year increased by 23% to Rs 3.38 lakh crore, mainly driven by a 29% rise in interest earnings from overseas assets to Rs 1.33 lakh crore. However, part of the money was used by the RBI to strengthen its financial buffers. The Contingency Fund rose by 27% to Rs 5.42 lakh crore, following a Rs 44,862 crore provision to align its Available Realised Equity (ARE) with the 7.5% target under the Economic Capital Framework. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo The ARE rose nearly 25% to Rs 5.72 lakh crore, while the Asset Development Fund remained unchanged at Rs 22,975 crore. Domestic earnings, however, declined. Interest income from local investments dropped nearly 10% to Rs 77,327 crore, largely due to lower returns from rupee securities. Other income from domestic operations fell by 20% to Rs 2,143 crore. Total expenditure went up by 8% to Rs 69,714 crore, mainly due to higher costs for printing currency and employee benefits. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Scoop
6 days ago
- Business
- Scoop
The RBNZ Has Seen Enough To Cut More, But Not Enough To Do Enough
Another RBNZ meeting, another rate cut, and another forecast cut. Today's 25bps move to 3.25% is the sixth straight cut, and takes total easing to 225bps. And there's more coming. Although the path is highly uncertain. Policy is much closer to neutral now, but it is still not stimulatory. The RBNZ has lowered the forecast OCR track 25bps, from 3.1% to 2.85%, implying a good chance of another two rate cuts to 2.75%. It's another step in the right direction… and we continue to call for a move to 2.5%. The RBNZ has seen enough to cut again, and again, but not enough to do enough, in our view. We expect to see the OCR tracked lowered again in August towards 2.5%. The weakness in the economy is clear and demands more attention and less restriction. With all the risks offshore, think Trumpian tariffs, and the pain still felt onshore, there's a good argument to be made for taking policy into stimulatory territory. The RBNZ cut 25bps today. The cash rate sits at 3.25%. Were we surprised? Nope. Did we want more? Yes. There's no doubt that the Kiwi economy needs support. The risks to the growth outlook are tilted to the downside. As was revealed last week, the Govt's hands are tied (self-inflicted). So, we look to the RBNZ. In the current environment, with a future clouded by the tariff trade war, there's more for the central bank to do to support the recovery. Rightly so, the RBNZ is signalling more rate cuts. That's the key takeaway from the May MPS. The OCR track was lowered from a flat lined bottom of 3.10% to a 2.85% bottom in March 2026. So now another 25bps cut to 3% is fully baked into the cake. And from there, there's a 60% chance of another 25bps cut to 2.75%. Once again, we would love to have seen a bit more. We're still of the view that a 2.5% cash rate is what the Kiwi economy needs. And an OCR track bottoming anywhere below 2.75% would have signalled what we had hoped to see. But with each MPS, the terminal OCR has moved closer to our 2.5% view. Give them time, and they just might get there. But for now, such heightened uncertainty is making it harder for all policymakers to navigate. So, it's not surprising to see the committee err on the side of caution. The fact the RBNZ 'voted' 5-1, with one member voting for a pause to assess, throws some doubt on the timing of the next move, but not the direction. They are not on a 'pre-set course', and always data dependent. We think there's enough for them to cut again in July, but they may wait until August to cut again. It depends… on what? Everything. That seed of doubt caused a bit of a jolt in financial markets, especially short end interest rates. The pivotal 2-year swap rate rose 10bps, from 3.16% to 3.26%. It's not a big move… but it was one Governor Christian Hawkesby pushed back on. The telling comment from Hawkesby, when asked about the market reaction, was his reference to the new OCR track matching market pricing prior to the announcement. The RBNZ's OCR track matched market pricing of 2.85%. So they would not have expected much reaction at all. Again, we want to reinforce the key message of today's meeting is that the RBNZ is signalling more cuts.
Time of India
23-05-2025
- Business
- Time of India
Govt brings convenience fee for online services
Govt has decided to charge a convenience fee of Rs 10 (excluding taxes) for all the services provided through the Goa online portal. In addition to the convenience fee, a Rs 20 service fee will also be levied on 13 specific services, which were earlier available free of cost for all. Tired of too many ads? go ad free now The service fee will now be payable on services such as the issuance of income certificates, domicile certificates, residence certificates, divergence certificates, caste/community certificates, matrices certificates, and applications for sound permission, job fairs, the Mamta scheme, employment exchange registration, returns filing under the Factories Act, the online return filing system, and returns filing under road accident and other dangerous incidence occurrence, among others. This step essentially implies that all the users will now have to pay a total of Rs 30 to avail themselves of these services when applying through the portal. However, the applicants using the Citizen Service Centres or Common Service Centres (CSC-SPV) to access these services will be exempt from the charges. It has also notified that the implementing agency for this convenience fee implementation Goa Electronics Limited (GEL), will collect the charges. TNN
NDTV
13-05-2025
- Business
- NDTV
NVS Admit Card 2025: Non Teaching Post Admit Card Released, Download Here
NVS Admit Card 2025: Navodaya Vidyalaya Samiti (NVS) has released the admit card for the NVS Recruitment drive 2024(Non-Teaching posts). Candidates can now download the admit card for Non-Teaching posts by visiting the official website of NVS, The exam will be held for various posts including Female Staff Nurse, Assistant Section Officer, Audit Assistant, Legal Assistant. The application process for the NVS Recruitment drive started last year on March 22, 2024 and lasted until May 14, 2024. The admit cards are made available to the candidates two days before the examination. For the examination that will be held on May 15,2025, the admit card will be released on May 13,2025. Similarly, for the examination on May 16,2025, admit card will be released on May 14,2025. The salary for the various posts ranges from a minimum of ₹18,800 to a maximum of ₹1,42,400. NVS Admit Card 2025: Posts and Eligibility Criteria 1. Female Staff Nurse: The pay scale ranges from Rs. 44,900 to Rs. 142,400 with the upper age limit of 35 years. The essential qualification for the position of female staff nurse include in nursing or a regular course in nursing from a recognized university/institute. 2. Assistant Section Officer: The pay scale ranges from Rs. 35,400 to Rs. 1,12,400 and the age limit is between 23 and 33 years. Essential qualifications for Assistant Section Officer (i) Bachelor Degree from a recognized University. (ii) 03 years' experience in administrative, financial matters in Central Govt/Autonomous Organization under the Central Govt. 3. Audit Assistant: The pay scale for Audit Assistant is the same as Assistant Section Officer and the age limit is between 18 and 30 years. Qualifications required (i) B Com from a recognized University. Desirable qualifications: (i) 3 years' experience of accounts works in a Government/Semi-Government/ Autonomous organization. 4. Legal Assistant: The pay scale for Legal Assistant ranges from Rs. 35,400 to Rs. 1,12,400 and the upper age limit is between 23 and 35 years. Essential Qualifications: (i) Degree in Law from a recognized University. (ii) Three years experience of handling legal cases in a Government Department / Autonomous Bodies/ PSU Desirable Qualifications: (i) Working Knowledge of Computer Operation. (ii) Working knowledge of Hindi & English Other openings for post through the NVS recruitment drive include Junior Translation Officer, Stenographer, Computer operator, Catering Supervisor, Junior In HQ / Regional offices and Jawahar Navodaya Vidyalaya's of Navodaya Vidyalaya Samiti.
