Latest news with #Rs19
Hans India
a day ago
- Business
- Hans India
Banks sitting on `67K-cr unclaimed deposits
New Delhi: Unclaimed deposits with banks, including private lenders, stood at Rs67,003 crore at the end of June 2025, Parliament was informed on Monday. As of June 30, 2025, public-sector banks were saddled with unclaimed deposits of Rs58,330.26 crore, while private sector had Rs8,673.72 crore, as per the Reserve Bank of India (RBI). Of the public-sector banks, SBI is leading the pack with unclaimed deposits of Rs19,329.92 crore, followed by Punjab National Bank Rs6,910.67 crore and Canara Bank Rs6,278.14 crore, Minister of State (MoS) for Finance Pankaj Chaudhary said in a written reply to the Lok Sabha. Among the private sector banks, ICICI Bank has the highest unclaimed deposits of Rs2,063.45 crore, followed by HDFC Bank Rs1,609.56 crore and Axis Bank Rs1,360.16 crore, he said. To enhance accessibility and simplify the search process for unclaimed deposits, RBI has launched the Centralised Web Portal UDGAM (Unclaimed Deposits- Gateway to Access Information) for public. 'As on July 1, 2025, 8,59,683 users registered and accessed UDGAM portal. The said portal facilitates the registered users to search unclaimed deposits/ amounts across multiple banks at one place in a centralized manner,' he said. With regard to utilisation of unclaimed fund, RBI has stated that as per the provisions of The Depositor Education and Awareness Fund Scheme (Scheme), 2014, there shall be a committee to administer and manage the fund in accordance with the scheme, the minister said. The fund shall be utilised for promotion of depositors' interest and for such other purposes which may be necessary for promotion of depositors' interest, as specified by RBI. Replying to another question, Chaudhary said the government has no plans of launching Exchange Trade Funds (ETFs) for respective Virtual Digital Assets (VDAs) in order to integrate them into mainstream financial market. The Reserve Bank of India (RBI) has issued advisories warning users, holders, and traders of virtual currencies or crypto assets about the potential risks, including economic, financial, operational, legal, and security concerns, he said.
Business Recorder
19-07-2025
- Business
- Business Recorder
Islamabad: prices of essential kitchen items show rising trend
ISLAMABAD: The prices of essential kitchen items have witnessed an increase during this week past against the previous week owing to third successive increase in petrol and diesel prices, revealed a survey carried out by Business Recorder here on Saturday. Within the past one and half month, the government has increased the price of High Speed Diesel (HSD) oil mainly used for transportation purposes from trains to trucks, buses and trailers by Rs29 per litre and petrol mainly used by private and small vehicles by Rs19 per litre. The increase in fuel prices has played a major role in escalating the prices as transportation cost has jumped up by at least 10 per cent during the period which not only resulted in increasing the prices of daily use items but also edible items from vegetables, meat, eggs to fruits. An increase was noted in chicken prices as it went up from Rs16,000 to Rs16,400 per 40kg in the wholesale market, which in retail is being sold at Rs440 per kg and chicken meat at Rs700 per kg. Eggs' price went up from Rs7,000 to Rs7,300 per carton of 30 dozen which in retail is being sold in the range of Rs260-275 against Rs250-260 per dozen. Sugar price went down from Rs9,100 to Rs8,800 per 50kg bag in the wholesale market, while in retail it is being sold at 190 per kg. Wheat flour price remained unchanged as the best quality wheat flour ex-mill price per 15kg bag is at Rs1,100 which in retail is being sold at Rs1,150 per 15kg bag and normal quality wheat flour per 15kg bag is available at Rs1,000 which in retail is being sold at Rs1,050 per bag. Copyright Business Recorder, 2025
Hans India
19-07-2025
- Business
- Hans India
Consumer biz fuels RIL's Q1 net to record high
New Delhi: India's most valuable company Reliance Industries (RIL) on Friday reported its highest-ever quarterly profit of Rs26,994 crore for the April-June quarter, reflecting a growth of 78.3 per cent over the year-ago period, driven by a bumper showing of consumer businesses. The oil-to-retail-to-telecom conglomerate's consolidated net profit attributable to owners of the company stood at Rs26,994 crore or Rs19.95 per share, in April-June 2025 compared to Rs15,138 crore earnings in the year-ago period, according to an exchange filing. The net profit was also 39 per cent higher quarter-on-quarter when compared to Rs19,407 crore earnings in the preceding three months ended on March 31. RIL Chairman and Managing Director, MukeshAmbani said that Reliance has begun FY26 with a robust, all-round operational and financial performance. 'Consolidated EBITDA for the first quarter of FY26 improved strongly from a year-ago period, despite significant volatility in global macros. During the quarter, energy markets encountered heightened uncertainty, with sharp fluctuations in crude prices. Our O2C business delivered strong growth, with thrust on domestic demand fulfillment and offering value-added solutions through the Jio-bp network. Performance was supported by improvement in fuel and downstream product margins,' Ambani said. The firm helmed by billionaire MukeshAmbani continued to post an uptick in consumer businesses -- retail and telecom. While Jio was helped by a rise in consumer base, the retail business delivered steady performance due to an increase in footfalls at its expanded store network. Revenue from operations was up by 5.26 per cent to Rs2.48 lakh crore in the first quarter of 2025-26 compared to Rs2.36 lakh crore in the year-ago period. The mainstay oil refining and petrochemicals business, called O2C, posted a 1.5 per cent decline Y-o-Y due to a fall in crude oil prices and lower volumes on account of the planned shutdown. Segment revenues were supported by increased domestic placement of transportation fuels through Jio-bp, a company statement said.
Hans India
19-07-2025
- Business
- Hans India
Torrent Pharma set to be India's 2nd pharma major
New Delhi: Ahmedabad-based Torrent Pharmaceuticals has sought fair trade regulator CCI's clearance to acquire a majority stake in in JB Chemicals and Pharmaceuticals in a Rs19,500-crore the completion of the deal, Torrent Pharmaceuticals will become India's second most valued pharma company. The development came after Torrent Pharmaceuticals in June this year announced the acquisition of a majority stake in JB Chemicals and Pharmaceuticals in a Rs19,500-crore deal. 'The proposed combination relates to acquisition of shareholding by the acquirer (Torrent Pharmaceuticals Ltd) in the target (JB Chemicals & Pharmaceuticals Ltd) and the subsequent amalgamation of the target with the acquirer,' according to a notice filed with the Competition Commission of India (CCI). Torrent Pharmaceuticals is the flagship company of the Torrent group and is engaged in the business of manufacturing and sale of pharmaceutical formulations (FDFs) across therapeutic segments.
Business Recorder
15-07-2025
- Business
- Business Recorder
NA panel forms body to address Rs19bn default by LDI operators
ISLAMABAD: The National Assembly Standing Committee on Information Technology and Telecommunication on Monday constituted a sub-committee to address the alarming default of around Rs19 billion by nine Long Distance and International (LDI) operators. The Pakistan Telecommunication Authority (PTA) informed the committee that more than 100 related cases are pending in various courts, while six of the defaulters have expressed willingness to settle their dues. A structured recovery mechanism, including an instalment-based plan, is under consideration and a proposal has already been submitted to the federal cabinet for guidance. The committee, chaired by MNA Syed Aminul Haq, also decided to convene an in-camera meeting to thoroughly review the confidential Sale and Purchase Agreement between the Government of Pakistan and M/s Etisalat, after expressing strong displeasure over PTCL's refusal to share specific clauses of the deal. The Privatization Commission informed the committee that Clause 6 of the agreement restricts disclosure without mutual consent of both parties. The committee directed that representatives from the Ministry of IT, Ministry of Law and Justice, Privatization Commission, and M/s Etisalat be invited to the next meeting. Meanwhile, the Universal Service Fund (USF) briefed the committee that areas in district Tharparkar and Sargodha Division remain severely underserved in terms of internet and voice call access. Although fibre optic infrastructure exists, telecom services remain unavailable in many parts. The USF stated that specific projects for these regions have been approved and are at the final implementation stage. The committee instructed USF to submit a list of all such projects planned for execution over the next three to five years and directed PTA to ensure service delivery in those areas. On the issue of internet suspension in district Panjgur, the committee urged the Ministry of IT to coordinate with the Ministry of Interior, provincial authorities, and law enforcement agencies to devise a workable solution. The PTA was also instructed to maintain connectivity through the existing fibre optic infrastructure despite service disruptions. MNAs Zulfiqar Ali Bhatti, Dr Mahesh Kumar Malani, Sadiq Ali Memon, Ahmad Saleem Siddiqui, Pullain Baloch, Sher Ali Arbab, and Umair Khan Niazi, along with senior officials from the ministry and its attached departments, attended the meeting. Copyright Business Recorder, 2025
