County Union Financial News

Transaction of Business Rules, also known as 'TBR', is the buzzword these days in Jammu and Kashmir's secretariat and other government offices, as there is a lack of clarity on the powers of the elected government in the Union Territory, as well as confusion about the processes and prioritisation of file movement between the chief minister's office and the Lieutenant Governor's Raj Bhavan. Due to the lack of clarity on TBR, a large number of files continue to circulate in the workplace. And a slew of officials keeps using the term as if it were some big mystery, especially when they don't want to perform the work or be held accountable for any given file.

Union Territory, particularly during the harsh winter months. National Conference leader Omar Abdullah took oath as the chief minister of Jammu and Kashmir on October 16, heading the first elected government in the Union territory since 2019 when its special status was revoked. Shortly after assuming office, he instructed the police to refrain from establishing 'green corridors' for his movement, a decision aimed at minimising disruptions caused by VIP traffic and to prioritise the convenience of the public.

revenue in Q2 FY25 to Rs 2001.3 crore compared to Rs 1371.5 crore in Q2 FY24. The company posted a profit after tax (PAT) of Rs. 34.9 crore in Q2 FY25, a 59% increase over the same period last year. The quarter saw robust performance due to festive demand during Ganesh Utsav and the decrease in gold import duty in the Union budget. Additionally, during Maha Mangalsutra Mahotsav (the 20th year of Mangalsutra Mahotsav), PNG Jewellers’ annual flagship event, the average sales per day increased by 40%.

Subscribe to enjoy similar stories. NEW DELHI : One of the big stories of the Indian economy has been the sharp increase in personal income tax collections. The personal income tax collection (excluding securities transaction tax) stood at ₹4,52,286 crore in April-August 2024-25, up 25.5% from ₹3,60,381 crore in the year-ago period.

global oil prices would have increased tremendously if India had not purchased oil from Russia.

PDP and the Peoples' Conference, on Thursday submitted a fresh resolution in the Jammu and Kashmir assembly demanding immediate restoration of Articles 370 and 35A in their original form. They also called for the reversal of all changes introduced in the Union territory after the erstwhile state was stripped of its special status in 2019.

The custom duty on gold was lowered from 15% to 6% in the Union Budget 2024 announced in July. Industry executives said in case of such a fall in customs duty, companies who had purchased inventory earlier are going to bear losses because they had to subsequently sell at a reduced custom duty.

Canada, Union Minister Ravneet Singh Bittu on Monday accused Canadian Prime Minister Justin Trudeau of creating divisions among different communities in the country. «The news reports coming in over the past few days, the situation that has formed in Canada do not pertain one particular religion. Be it Hindu or Sikh, PM Trudeau has divided everyone there,» Union Minister Ravneet Singh Bittu said. Bittu criticized both those advocating for pro-Khalistan slogans and the Canadian police for their support, stating that the Indian Government will respond to the situation with a more decisive action.

Non-resident Indians (NRIs) now have a faster, more convenient option than traditional wire transfers to send money to family or make payments in India. The National Payments Corp. of India (NPCI) has extended UPI access to NRIs who hold non-resident external (NRE) or non-resident ordinary (NRO) accounts. This expansion allows NRIs to conduct instant transactions from their smartphones using UPI linked to their international mobile numbers, simplifying financial connections with India.

Sat Sharma to the position of the party's unit head for the Union Territory of Jammu and Kashmir. The Saffron party's decision came a few weeks after election results were announced in the Union Territory. In an official letter, the party announced the immediate appointment of Sat Sharma to the aforementioned position.

SBI Research in a report has advocated for quicker review of the Income Tax Act as announced in Budget 2024-25. The report recommended that the revised Act be introduced as a money bill so that it can be passed within stipulated 75 days. This will not only simplify and streamline taxation process but also aligned with economic growth and inclusivity. The report recommended raising the TDS threshold on bank interest payments from Rs 10,000 to at least Rs 100,000. Allowing annual issuance of TDS certificates (Form 16A) instead of quarterly, aligning it with Form 16 for salaries, since Form 26AS is primarily used for credit and a flat tax rate for individuals earning over Rs 8 lakhs, specifically for those aged 60 to 80, with additional provisions for individuals aged 80 and above.

Farooq Abdullah on Friday said attacks like the one in Gulmarg would continue to occur until India and Pakistan found a way to be friends and that would end Jammu and Kashmir's troubles. Two soldiers and two Army porters were killed on Thursday after terrorists ambushed a force vehicle near Gulmarg in north Kashmir's Baramulla district. Another soldier and a porter were injured in the attack. «Such attacks will continue to take place in this state. You know where they come from and it will not stop until some way is found to get out of this trouble. I have been witnessing it for the last 30 years, innocent people are getting killed,» Abdullah told reporters. «We are not going to become a part of Pakistan. So, why are they doing this? To disrupt our future? To make us poorer?» he asked.

Kashmir BJP president Ravinder Raina on Thursday condemned the terror attack in Gulmarg in which two porters working with the Army were killed and four people injured, and blamed Pakistan for trying to destabilise peace and tranquillity in the Union territory. Terrorists opened fire on an Army vehicle in the Bota Pathri area, six kilometres from tourist hotspot Gulmarg in north Kashmir, on Thursday evening. Three soldiers are among the injured. «We condemn the attack carried out by coward Pakistani terrorists on an Army vehicle while taking advantage of darkness. We express condolences to the families of the martyrs,» Raina said. The BJP leader said Pakistan is repeatedly trying to destabilise peace and tranquillity in Kashmir.

Karur Vysya Bank has given a good set of numbers. City Union Bank yesterday has given a good set of numbers and a few of the PSU banks have given a good set of numbers as well," says Mayuresh Joshi, Head Equity, Marketsmith India. Broader markets is where the pain is pretty sharp but one of the stock that is holding out in this sort of a market is ICICI Bank. While one end of the market, you have ICICI Bank that is holding onto the positive territory. You have IndusInd Bank that has hit a 52-week low on an intraday basis today. What is your take when you talk about the banking space as a whole then? Mayuresh Joshi: So, two things, one, the numbers for most banks, specifically the larger ones have been pretty good. Axis Bank gave a good set of numbers. HDFC Bank, good set of numbers and the commentary was equally encouraging. Kotak had their one misses in the numbers itself, so quite a few one-offs in the numbers. Expectations that as rate cut cycle starts in India as well, some element of positivity expected to come through.

City Union Bank (CUB) after the better-than-expected second-quarter results. The price targets imply a 1-19% rise in the stock over its Tuesday closing price of ₹168.5. City Union Bank shares rallied 11.9% on Tuesday in a weak market in response to the September quarter earnings.

Ganderbal district on Sunday, officials said. The terrorists opened fire on a camp housing labourers of a private company working on the construction of a tunnel in the Gund area of the district, they said. Two labourers died on the spot while two others sustained injuries, the officials said, adding that further details are awaited.

earthquake measuring 3.7 on the Richter scale struck Doda in Jammu and Kashmir on Sunday, according to the National Centre for Seismology (NCS). In an update posted on X, the NCS reported that the earthquake occurred at a depth of 5 kilometers at the coordinates 33.00 N latitude and 75.94 E longitude. So far, there are no reports of injuries or potential casualties, and any damage is yet to be assessed.

earnings season is underway and as many as 182 companies will declare their results this week. Some of the marquee names include ICICI Bank, YES Bank, ITC, Bajaj Housing Finance, HUL, Ultratech Cement, Bajaj Finance, Bajaj Finserv, IndiGo, Paytm, and Zomato among others. Here are the key earnings to watch out next week

working conditions, and recognition of their newly-formed labour union, the Samsung India Workers Union (SIWU). What was the state government’s role? Initially, the state government did not step in to help resolve the dispute after workers at the Sriperumbudur plant struck work on September 9. It was only a few weeks later when chief minister M.K. Stalin returned from a trip to the US that the government decided to engage in talks with the workers.

vaccine doses manufactured and distributed across the world in the last one year alone, half of them were manufactured in India, said Union Health Secretary Punya Salila Srivastava. She said this while addressing the annual India Leadership Summit 2024, organised by the US-India Strategic Partnership Forum here today. Punya said India has emerged as a global leader in pharmaceuticals, being the third-largest producer and a key supplier of generic medicines. This sector's success has resulted in substantial savings for healthcare systems worldwide, including a notable contribution to the US healthcare system.

Tamil Nadu government on Wednesday said Samsung India Electronics has accepted most of the demands of workers, who commenced strike on September 9, and reiterated its request that employees resume work immediately.In a related development, on Tuesday night, some participants/those related to the strike were arrested by police and were later released 'on their own bond' by a magistrate. A key demand of the Samsung workers, registration of their union, backed by the CPI(M) affiliated Centre of Indian Trade Unions (CITU), is, however, yet to be accepted by the authorities. Deputy Chief Minister Udhayanidhi Stalin said Samsung, a multinational, has its own rules. The only bone of contention is registration of the workers union. «Samsung says that they will not accept a Union which has a political affiliation. This is their stand. Currently, discussions are going on,» he told reporters.