Latest news with #VRC
The Hindu
3 days ago
- General
- The Hindu
Foundation course on Ramayana for students launched in Vizianagaram
The Valmiki Research Centre (VRC) of Ramanarayanam temple, in association with National Sanskrit University, (NSU), Tirupati, on Saturday launched the three-month Roots Foundation course to help students understand the core values of Ramayana. Around 250 students from different schools across Vizianagaram enrolled their names and attended the training programme organised by the VRC director and former Vice-Chancellor of Dr. B.R. Ambedkar University, Hanumanthu Lajipathirai, and temple trustee Narayanam Srinivas. Speaking on the occasion, Mr. Lajipathirai said that the students would tread the right path and follow dharma throughout their life when they understand Indian culture, traditions and epics like Ramayana and Mahabharata. 'Thavaasmi', a conversational Ramayana book writer R. Srirama Chakradhar, explained to the students about Lord Rama's simple lifestyle, crisis management techniques and efficient administration. VRC course director N.G. Nitya said that the students would attend online classes on Saturday and offline classes every Sunday for the next three months to complete the course designed by academic experts and religious scholars.
Irish Daily Mirror
11-07-2025
- Automotive
- Irish Daily Mirror
One of World's richest races offers huge prize money even for last placed horse
One of the globe's most prestigious horse racing events is dishing out big bucks, with even the last-placed horse set to receive a hefty sum. Australia's iconic Lexus Melbourne Cup, known as the 'race that stops the nation', is a major draw for top horses from Europe, Japan, and beyond, with last year's event featuring entrants from leading trainers Willie Mullins, Brian Ellison, and Harry Eustace. In the lead-up to the 2025 event, the Victoria Racing Club has revealed a whopping £4.8 million in total prize money will be up for grabs in the 2m handicap. The boost is designed to acknowledge every starter in the maximum 24-horse field, with each horse finishing 13th to 24th set to pocket £48,000. Additionally, winners of the Geelong Cup and Moonee Valley Gold Cup will secure a guaranteed start. Victoria Racing Club CEO Kylie Rogers commented: "The Lexus Melbourne Cup is unrivalled for its history, status and reach and the VRC is proud to be able to now reward every local and international participant in the great race.", reports the Mirror. "It reflects the significant effort required to prepare and qualify for the Lexus Melbourne Cup and goes hand-in-hand with a decision to add additional qualifying opportunities through the Geelong Cup and Moonee Valley Gold Cup. "Cup Week adds more value to the economy and the racing eco-system than any other racing carnival in the country, contributing around 10 per cent of the annual wagering turnover across the state. "We thank Racing Victoria for its support to lift minimum prizemoney across the week, which will continue to attract the best horses, jockeys and trainers from Australia and across the world. "In line with the club's significant improvement in its financial position this year together with a forecast to increase again in season 2025-2026, the VRC has made a considered decision to increase its returns to participants. "Planning for the 2025 Melbourne Cup Carnival is in full swing, and this is just one of a number of exciting announcements that build momentum towards the world's greatest racing event."
Daily Mirror
10-07-2025
- Automotive
- Daily Mirror
One of world's richest horse races to offer £48,000 for finishing last
One of the world's most famous races is splashing the cash to reward even the horse which finishes last. The Group 1 Lexus Melbourne Cup is Australia's greatest horse race, known as the 'race that stops the nation' is renowned around the world and has become a huge draw for horses from Europe and Japan. Last year's edition featured runners from the stables of Willie Mullins, Brian Ellison and Harry Eustace while a Japanese runner finished second behind local horse Knight's Choice. In the build-up to the 2025 race, the Victoria Racing Club has announced the 2m handicap will offer total prize-money of £4.8 million. The increase has been introduced to recognise every starter in a race which annually draws a maximum field of 24 horses. As a result every horse which finishes from 13th to 24th place will be paid £48,000. In addition winners of the Geelong Cup, won by the Ellison-trained Onesmoothoperator, and Moonee Valley Gold Cup, will be guaranteed a start. VRC chief executive officer, Kylie Rogers said: 'The Lexus Melbourne Cup is unrivalled for its history, status and reach and the VRC is proud to be able to now reward every local and international participant in the great race. 'It reflects the significant effort required to prepare and qualify for the Lexus Melbourne Cup and goes hand-in-hand with a decision to add additional qualifying opportunities through the Geelong Cup and Moonee Valley Gold Cup. 'Cup Week adds more value to the economy and the racing eco-system than any other racing carnival in the country, contributing around 10 per cent of the annual wagering turnover across the state. 'We thank Racing Victoria for its support to lift minimum prizemoney across the week, which will continue to attract the best horses, jockeys and trainers from Australia and across the world. 'In line with the club's significant improvement in its financial position this year together with a forecast to increase again in season 2025-2026, the VRC has made a considered decision to increase its returns to participants. 'Planning for the 2025 Melbourne Cup Carnival is in full swing, and this is just one of a number of exciting announcements that build momentum towards the world's greatest racing event.'
News.com.au
09-07-2025
- Automotive
- News.com.au
Melbourne Cup prizemoney to be paid from first to 24th after $10m race confirmed
Racing Victoria has confirmed prizemoney increases for Australia's most famous and best races. Melbourne Cup prizemoney has officially increased to $10m with all starters to share in the bounty. The Cox Plate has also been boosted to $6m – up from $5m – to mark the historic last weight-for-age championship on the traditional Moonee Valley Racecourse before a major redevelopment. Racing Victoria is set to confirm prizemoney schedule for the 2025-25 season on Thursday. This masthead on Monday revealed the Melbourne Cup and Cox Plate prizemoney decisions. VRC chief executive Kylie Rogers has welcomed the Melbourne Cup prizemoney increase. 'We are thrilled to finally be able to allocate the prizemoney the Lexus Melbourne Cup deserves,' Rogers said. 'It's the 'People's Cup' and frankly $10m allocated across all participants from one to 24 keeps the dream alive for all local, domestic and international participants.' Prizemoney historically for the Cup has been paid down to 12th place from $4.4m to $160,000. While the status quo remains for the top half of the Cup field, from the first Tuesday in November this year 13th to 24th will each receive $100,000. Last year the Melbourne Cup carried $8m prizemoney and a $750,000 18-carat gold three-handled trophy. Rogers praised VRC chief racing officer Leigh Jordon for the new payment structure. 'It takes a lot to get to the Cup,' Jordon said. 'Spreading it right down to the bottom gives everyone a chance in the race domestically and I think internationally it will help a little bit too … it takes a bit to fly out here and participate in the Cup. 'It's good for our grassroots participants here in Australia and New Zealand … it's the People's Cup and we want everyone to be able to run in it.' The VRC has also officially recognised the Geelong Cup and Moonee Valley Gold Cup as 'win and you're in' Melbourne Cup qualifiers. 'Geelong Cup and Moonee Valley Gold Cup have historically delivered, naturally, Melbourne Cup starters and so we thought we would richly reward them and formalise them as part of our golden ticket program,' Rogers said. 'Now we have a $10m Melbourne Cup with 10 golden tickets leading in.' An industry-wide collaborated and approved 'strategic reallocation' has allowed RV to maintain the overall prizemoney pool while also being able to boost select races from grassroots to elite level. A reduction in All-Star Mile and Australian Cup prizemoney – now $2m from $2.5m last year – has boosted the Newmarket Handicap ($1.5m to $2m) and Melbourne Cup.
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Business Standard
08-07-2025
- Business
- Business Standard
RBI to conduct 2-day VRRR auction to drain Rs 1 trillion in liquidity
The Reserve Bank of India (RBI) plans to conduct a two-day Variable Rate Reverse Repo (VRRR) auction on Wednesday for a notified amount of Rs 1 trillion. This move comes as system liquidity remains in surplus at Rs 3.4 trillion (as of Monday), despite two seven-day VRRR auctions by the central bank. The surplus liquidity has kept the overnight weighted average call rate (WACR) — the operating target of monetary policy — near the Standing Deposit Facility (SDF) rate of 5.25 percent, and much below the repo rate of 5.50 percent. 'System liquidity will only increase from here as government expenditure picks up, and from September, the CRR cut will come into effect. This could push liquidity levels to as high as Rs 5 trillion by November–December, assuming neutral impact from foreign exchange operations. So, they had to move early to ensure overnight rates remain within the policy corridor. This operation will shift the weighted average call rate closer to the repo rate and, more importantly, pull the TREPS rate above the SDF, which it had consistently fallen below despite previous 7-day VRRRs,' said Gaura Sen Gupta, Chief Economist at IDFC FIRST Bank. 'The 100 bps CRR cut will release Rs 2.5 trillion into the banking system.' The overnight WACR settled at 5.26 percent on Tuesday, while the overnight TREPS rate settled at 5.13 percent. Market participants said that the auction, maturing on Friday, is expected to draw strong demand from banks. 'Because it's a two-day VRRR, it will attract good demand from banks. The RBI may continue such short-tenure operations as long as surplus remains above 1 percent of NDTL. With overnight rates currently trading below the repo rate, the central bank is using VRRRs to keep rates within the LAF corridor, ensuring orderly liquidity conditions without aggressively draining surplus,' said V R C. Reddy, head of treasury at Karur Vysya Bank. The RBI's VRRR operations are aimed at absorbing surplus liquidity from the system and anchoring short-term rates closer to the policy repo rate. The RBI had received bids amounting to Rs 1.70 trillion at its seven-day Variable Rate Reverse Repo (VRRR) auction on Friday, against the notified amount of Rs 1 trillion. The central bank accepted Rs 1 trillion at a cut-off rate of 5.47 percent. The recent liquidity surplus can largely be attributed to higher government spending and lower-than-expected GST collections, which have eased the usual liquidity pressures. As a result, the liquidity drain was not as sharp as anticipated, experts said, adding that with the RBI already having reduced the Cash Reserve Ratio (CRR), its room for deploying other measures for liquidity withdrawal apart from VRRR is limited.
