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Time of India
a day ago
- Business
- Time of India
Will banks soon have a 5-day working week? Here's what the government has said
What is the proposal of a 5-day banking week? Academy Empower your mind, elevate your skills The government has clarified its position on the Indian Banks' Association (IBA) proposal to implement a 5-day work week for banks . In a written reply in Lok Sabha on July 28, 2025, the Ministry of Finance confirmed that the IBA has proposed to declare all Saturdays as banking holidays While the proposal is under consideration, public sector banks (PSBs) currently follow a system where only the second and fourth Saturdays are official holidays. The government also addressed concerns regarding staff shortages and provided an update on manpower availability in All India Bank Officers' Confederation (AIBOC) has proposed making all Saturdays a holiday, citing it as a standard for enhancing productivity, growth, efficiency, and promoting an ethical Wealth Online breaks down the government's official response to four key questions on the proposal of a 5-day work week for of Parliament K C Venugopal raised several questions about the IBA's proposal for a 5-day banking week, its implementation, shortage of banking staff, and more.(a) the action taken by the Government on the IBA proposal for a 5-day banking week;(b) whether the Government is considering to implement the proposal and if so, the details thereof;(c) whether it is a fact that the proposal is pending due to shortage of banking staff in the public sector banks;(d) if so, the steps taken by the Government to address the shortage of staff in banks; and (e) whether the Government has any plans for the roll out of the newly proposed 5-day banking week and if so, the timeline fixed for the same?The government replied to the aforementioned questions in Parliament :Indian Banks' Association (IBA) has submitted a proposal to declare all Saturdays as a banking holiday. In regard to the Saturdays being public holiday, subsequent to 10th Bipartite settlement/ 7th Joint note signed between IBA and Workmen Unions/Officer Associations, Government, in exercise of powers conferred by section 25 of the Negotiable Instruments Act, 1881, vide notification dated 20.8.2015, had declared the second and the fourth Saturdays of every month as public holiday for banks in Public Sector Banks (PSBs) are board governed commercial entities. The requirement of manpower in each PSB is determined by the respective PSB keeping in view various factors which include, inter-alia, business requirement, spread of activities, superannuation and other unplanned exits. Appointment of officers and staff is done accordingly by the PSBs and it varies from year to year based on their requirements. As per inputs received from PSBs, as on 31.03.2025, 96% staff are in position against their business requirement. The small proportion of gap is attributable to attrition on account of superannuation and other usual factors including unplanned exits.
Mint
a day ago
- Business
- Mint
Gold prices today in your city: Check prices in Mumbai, Bengaluru, Chennai, Hyderabad, New Delhi and Kolkata on July 29
Gold and silver prices in your city on July 29: Delay in a trade deal between the United States and India has pushed up gold prices in the domestic futures markets today, on July 29. A stable US Dollar and limited spot demand however, capped the price rise. MCX Gold August 5 contracts traded 0.07 per cent up at ₹ 97618 per 10 grams, while MCX Silver September 5 contracts were 0.18 per cent up at ₹ 1,13,260 per kg around 9.10 am. While, the dollar index inched up by 0.10 per cent and stayed in the green, weighing on gold's demand. Experts term gold and silver as 'safe haven' investments. Over the past 20 years, gold prices have skyrocketed by an impressive 1,200 per cent from ₹ 7,638 in 2005 to over ₹ 1,00,000 in 2025 (till June), and delivered positive returns in 16 of these years. Further, silver has also proved resilient. Over the past 20 years (2005-2025), the metal has gained a solid 668.84 per cent. The MCX gold index was at ₹ 97,620/10 gm at 9.41 am on July 29, the official website showed. Meanwhile, MCX silver prices were at ₹ 1,13,320/kg, it showed. Further, 24-carat gold was priced at ₹ 98,140/10 gm, according to data on the Indian Bullion Association (IBA) at 9.30 am on July 29. Further, 22-carat gold was priced at ₹ 89,926/10 gms. Silver prices today are at ₹ 1,13,600/kg (Silver 999 Fine), as per the IBA website. So, check here gold and silver prices in your city today on July 29 — Delhi, Kolkata, Mumbai, Hyderabad, Bengaluru, and Chennai. Notably, for retail customers, jewellers may add making charges, taxes and GST to the bill, which could hike the final price for you. • Gold bullion rates in Mumbai— ₹ 98,000/10 gm. • MCX Gold ratein Mumbai — ₹ 97,620/10 gm. • Silver bullion rate in Mumbai— ₹ 1,13,320/kg. • MCX Silver 999 rate in Mumbai — ₹ 1,13,320/kg. • Gold bullion rates in New Delhi— ₹ 97,830/10 gm. • MCX Gold rate in New Delhi — ₹ 97,620/10 gm. • Silver bullion rate in New Delhi— ₹ 1,13,120/kg. • MCX Silver 999 rate in New Delhi — ₹ 1,13,320/kg. • Gold bullion rates in Kolkata— ₹ 97,870/10 gm. • MCX Gold rate in Kolkata — ₹ 97,620/10 gm. • Silver bullion rate in Kolkata— ₹ 1,13,170/kg. • MCX Silver 999 rate in Kolkata — ₹ 1,13,320/kg. • Gold bullion rates in Bengaluru— ₹ 98,080/10 gm. • MCX Gold rate in Bengaluru — ₹ 97,620/10 gm. • Silver bullion rate in Bengaluru— ₹ 1,13,430/kg. • MCX Silver 999 rate in Bengaluru — ₹ 1,13,320/kg. • Gold bullion rates in Hyderabad— ₹ 98,160/10 gm. • MCX Gold rate in Hyderabad — ₹ 97,620/10 gm. • Silver bullion rate in Hyderabad— ₹ 1,13,520/kg. • MCX Silver 999 rate in Hyderabad — ₹ 1,13,320/kg. • Gold bullion rates in Chennai— ₹ 98,290/10 gm. • MCX Gold rate in Chennai — ₹ 97,620/10 gm. • Silver bullion rate in Chennai— ₹ 1,13,670/kg. • MCX Silver 999 rate in Chennai — ₹ 1,13,320/kg. Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
The Hindu
3 days ago
- Business
- The Hindu
Ask us on Investments
Q I am a retired bank officer aged 70. I have a health insurance policy with a coverage of ₹4 lakh under a special scheme of IBA (Indian Bankers Association). The maximum coverage for family is ₹4 lakh under the scheme. Top-up to a maximum of ₹5 lakh is available. I want to have a coverage of minimum ₹20 lakh for me and my wife. Kindly advise. M. Gopinathan A The policy, which you have currently, might be a group health insurance policy designed for retired bank staff. The policy might not be customisable or might be subject to negotiations between IBA and unions. Against this backdrop, it is advisable to take a separate individual health policy, in addition to your bank policy, with a basic coverage (Sum Insured) of ₹5 lakh. If you cannot afford this additional individual base policy, you can go with your bank policy itself. But, having a individual health policy has more benefits. For a coverage of up to ₹20 lakh, you can buy a super-top up health insurance policy, with a deductible of ₹5 lakh, if you purchase an individual base policy for this amount. If you prefer to use only the bank policy, then your deductible amount for the super top-up policy must be ₹4 lakh only. There are two top-up policies available in the market viz. top-up and super top-up. Both are completely different. For a complete understanding about the difference between the two policies, you can refer to the Moneywise article titled 'Top-up vs. super top-up' dated March 17, 2025. The premium cost for the super-top up health insurance policy is costly when compared with the top-up policy. Still, for your age, it is advisable to buy the super top-up policy to avail maximum benefits. Most health insurance companies offer both the policies, but you need to be careful to check whether you are really buying the super top-up policy. You can also buy an individual health insurance base policy with the Sum Insured of ₹20 lakh but that is highly expensive, and we would not suggest it. Q I am 73 years old. I want to sell my 4-cent land purchased in 2007. What will be my tax liability under the Income Tax Act. Sivanandan A In the Union Budget 2024-2025, presented on July 23, 2024, Union Finance Minister Nirmala Sitharaman said long-term capital gains on all financial- and non-financial assets will attract a tax rate of 12.5%. However, in her Budget speech, she did not explicitly mention that the reduced 12.5% (from the earlier 20%) tax rate on LTCGs is without the indexation benefit. Later, on August 7, 2024, the Finance Bill 2024 was passed in the Lok Sabha with an amendment that gave a relaxation to the new capital gains tax on real estate. The amendment was introduced after widespread criticism from various corners, including Opposition parties and tax professionals. As per the amendment, individuals or Hindu Undivided Families (HUFs) who purchased houses or other immovable property before July 23, 2024, have two options regarding the treatment of long-term capital gains and they can choose any one option that is suitable for them. First option is they can choose to pay straight 12.5% tax on the capital gains without claiming the indexation benefit. Or the second option is that they can choose to pay 20% tax on capital gains, after claiming the indexation benefit. Further, according to the Income Tax Act and as per the Union Budget 2024-25, if you have owned an immovable property (land) for more than two years (24 months), then it is considered a long-term asset. In your case, you have purchased the land in 2007 and therefore, if you earn capital gains by selling the land, it will be considered Long Term Capital Gain (LTCG). Since you have purchased before the July 23, 2024 window, you can choose any one of the tax rates – 12.5% on capital gains without indexation or 20% on capital gains with indexation benefit. The choice is yours. (The writer is an NISM & CRISIL-certified wealth manager)
Daily Mail
22-07-2025
- Entertainment
- Daily Mail
Butterbean opens up on his crippling sex addiction and battle with obesity after retiring
Butterbean, the cult-hero boxer whose real name is Eric Esch, has come forward to reveal his past battles with sex addiction. Speaking to the Mirror, the 58-year-old admitted his own weight problems, past rejections and sudden fame fueled his addiction in the 1990s and 2000s. Butterbean has now conquered this demon and he remains married despite his infidelities but now admits 'it was pretty bad.' 'I've been married for a long time and I've always loved my wife, but that was something that I've always had trouble getting over,' he told the Mirror. 'Now, I'm good. I'm confident in myself now. I don't have that problem. I'm a good boy now.' Butterbean and wife Libby Esch have three children, including a pair of sons who have forayed into mixed martial arts, although both were well shy of the 400-or-so pounds the elder Esch fought at in his boxing days. Teased for his weight as a child, Butterbean channeled that frustration into Toughman contests – truncated boxing matches that often relied on larger 16-ounce gloves and other safety measures. The events had a fringe, amateurish feel for much of the 1990s. But, as Butterbean continued winning, the rotund former former construction worker out of Texarkana soon turned pro, ultimately earning the nickname of 'King of the Four-Rounders.' In fact, promoter Bob Arm later convinced IBA commissioner Dean Chance to give Butterbean a belt as champion of the non-existent 'super heavyweight division.' Butterbean never actually defeated a ranked opponent, although he did lose to 53-year-old former heavyweight champion Larry Holmes in 2002. Although he continued to be a media presence, including stints in various wrestling circuits, Butterbean's weight increasingly became a problem. 'When you can't walk and you can't walk into the store and get something to drink, you do get depressed,' said Butterbean, who admittedly needed a wheelchair at one point as he surpassed 500 pounds. Eric 'Butterbean' Esch during an interview with host Jay Leno on May 10, 1996 'I was in bed for almost a year… got out of bed just to go to the bathroom. And I ate in the bed. I mean, I didn't even leave the bed.' These days, Butterbean is down more than 200 pounds – something he credits to his friend, wrestling legend 'Diamond' Dallas Page, who introduced him to yoga and a number of other healthy habits. 'I went and moved to DDP for a while, did his yoga program, and I'm in the best shape of my life right now,' Butterbean said. 'I feel better now at 50-something than I did when I was in my 20s, which is insane. I can't explain it, but the Fountain of Youth, I dove in it and I come out so much better.' Butterbean is retired, but he'd consider one comeback fight: Jake Paul. "Butterbean's back for one more fight,' he said in a social media clip. 'There's only one fighter out there that wants to fight retired, bald guys. I'm coming for you. I want to fight Jake Paul because he runs his damn mouth too much.' Paul previously fought and defeated a 58-year-old Mike Tyson.
Mint
21-07-2025
- Business
- Mint
Gold prices today in your city: Check prices in Mumbai, Bengaluru, Chennai, Hyderabad, New Delhi and Kolkata on July 21
Gold and silver prices in your city on July 21: Gold prices zoomed up on July 21 (Monday) during early trade, as investors watch for trade negotiations between the United States and other countries. Experts opine that continued uncertainty over tariffs will likely buoy gold prices. Further, the US Dollar undex slipped 0.10 per cent today, bolstering flows into the yellow metal. MCX Gold August 5 contracts traded 0.11 per cent higher at ₹ 98,127 per 10 grams around 9.10 am; while the MCX Silver September 5 contracts were down 0.01 per cent at ₹ 1,12,937 per kg at that time. Overall, experts agree that gold and silver are safe haven bets that investors can make to safeguard their portfolios in these volatile markets and with increased risk aversion. Over the past 20 years, gold prices have skyrocketed by an impressive 1,200 per cent from ₹ 7,638 in 2005 to over ₹ 1,00,000 in 2025 (till June), and delivered positive returns in 16 of these years. Year-to-date (YTD), gold prices have risen 31 per cent, with consistent Record highs solidifying its position among 2025's top-performing asset classes and a reliable hedge. Further, silver has also proved resilient. Prices have held above the ₹ 1 lakh/kg mark for the past three week. Over the past 20 years (2005-2025), the metal has gained a solid 668.84 per cent. The MCX gold index was at ₹ 98,520/10 gm at 11 am on July 21, the official website showed. Meanwhile, MCX silver prices were at ₹ 1,13,255/kg, it showed. Further, 24-carat gold was priced at ₹ 98,950/10 gm, according to data on the Indian Bullion Association (IBA) at 11 am on July 21. Further, 22-carat gold was priced at ₹ 90,704/10 gms. Silver prices today are at ₹ 1,13,470/kg (Silver 999 Fine), as per the IBA website. So, check here gold and silver prices in your city today on July 21 — Delhi, Kolkata, Mumbai, Hyderabad, Bengaluru, and Chennai. Notably, for retail customers, jewellers may add making charges, taxes and GST to the bill, which could hike the final price for you. • Gold bullion rates in Mumbai— ₹ 98,770/10 gm. • MCX Gold ratein Mumbai — ₹ 98,520/10 gm. • Silver bullion rate in Mumbai— ₹ 1,13,260/kg. • MCX Silver 999 rate in Mumbai — ₹ 1,13,255/kg. • Gold bullion rates in New Delhi— ₹ 98,590/10 gm. • MCX Gold rate in New Delhi — ₹ 98,520/10 gm. • Silver bullion rate in New Delhi— ₹ 1,13,090/kg. • MCX Silver 999 rate in New Delhi — ₹ 1,13,255/kg. • Gold bullion rates in Kolkata— ₹ 98,630/10 gm. • MCX Gold rate in Kolkata — ₹ 98,520/10 gm. • Silver bullion rate in Kolkata— ₹ 1,13,130/kg. • MCX Silver 999 rate in Kolkata — ₹ 1,13,255/kg. • Gold bullion rates in Bengaluru— ₹ 98,840/10 gm. • MCX Gold rate in Bengaluru — ₹ 98,520/10 gm. • Silver bullion rate in Bengaluru— ₹ 1,13,370/kg. • MCX Silver 999 rate in Bengaluru — ₹ 1,13,255/kg. • Gold bullion rates in Hyderabad— ₹ 98,920/10 gm. • MCX Gold rate in Hyderabad — ₹ 98,520/10 gm. • Silver bullion rate in Hyderabad— ₹ 1,13,460/kg. • MCX Silver 999 rate in Hyderabad — ₹ 1,13,255/kg. • Gold bullion rates in Chennai— ₹ 99,050/10 gm. • MCX Gold rate in Chennai — ₹ 98,520/10 gm. • Silver bullion rate in Chennai— ₹ 1,13,610/kg. • MCX Silver 999 rate in Chennai — ₹ 1,13,255/kg. Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
