Sonepur div collects over Rs 32 lakh penalty from 4,817 passengers without ticket
2
3
Patna:
Sonepur division
of
East Central Railway
on Monday collected over Rs 32 lakh in penalty from 4,817 passengers, who were apprehended for travelling without valid tickets, during an intensive ticket-checking drive under '
Operation Black Box
'.
This is the second-highest amount collected in a single day in the division's history after April 29 when 5,245 passengers were penalised, said Sonepur divisional railway manager (DRM) Vivek Bhushan Sood.
In the current financial year, over 1 lakh passengers, travelling without tickets, have been apprehended so far.
According to the DRM, the Monday's drive was carried out at multiple key locations with a coordinated effort by ticket-checking staff and other railway officials.
The 'Operation Black Box' is part of an ongoing campaign by Railway Board to curb revenue loss and ensure disciplined travel practices, he said.
Talking to this newspaper on Tuesday senior divisional commercial manager of Sonepur, Raushan Kumar, said that on an average, each travelling ticket examiner (TTE) in the Sonepur division is penalising 11 passengers daily, contributing approximately Rs 7,470 in the revenue.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Memperdagangkan CFD Emas dengan salah satu spread terendah?
IC Markets
Mendaftar
Undo
"The scale of this operation shows both the extent of the problem and the effectiveness of strict enforcement. Operation Black Box is one of several recent initiatives by the railways aimed at plugging revenue leaks and encouraging lawful travel," he said.
According to sources, the regular mega ticket-checking drive in the Sonepur division has increased sale of both long and short distance tickets from both passenger reservation system and unreserved ticket counters, yielding a revenue of over Rs 6 crore in the current fiscal.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
18 minutes ago
- Time of India
Geoff Dennis sees two Fed rate cuts as labour market softens
"The markets have got used to these deadlines being pushed. But were these tariff levels to be actually imposed and presumably a lot more countries may well find that they join this list because this list now is, it came out in two slugs if you like," says Geoff Dennis , Independent EM Commentator. How do you read the entire tariff saga? Yesterday evening yet again President Donald Trump has sent letters to several countries, 50% tariff on Brazil, 25% to Sri Lanka and several other countries. How do you read this move and are you bracing up for a lot of volatility over the next one month? Geoff Dennis: First of all, we do not know if he would not back away again like he has done before. The tariffs are apparently going to be launched on August the 1st. So, we will see if he backs away again. But the important thing here is the markets are not paying as much attention to this as they did before. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Cara Membantu Orang Terkasih Menghadapi Limfoma Limfoma Pelajari Undo So, in other words, when we had the so-called Liberation Day in early April, markets in the US especially completely fell apart. Everything went down. The dollar went down, bonds went down, and equities went down. Whereas everybody is a bit calmer now. And the reason people are calmer is first of all they do not know if he is going to carry through his threats to impose these tariffs and also very importantly there is a little bit more reassurance that the inflation impact of these tariffs within the US may be less than people had previously thought. So, we have got to watch it. There is a global trade war going on, but we are not going to see a return to the extremely volatile negative trading in the US and therefore around the world that we saw in the early part of April. Just like you were mentioning the last time we spoke you said that the tariff deadline could be extended. Now, it has not exactly been extended but the implementation deadline we have and that is new, so that is exactly what happened. But now talking about the markets, do you feel that in any way they are under-pricing the impact that these tariffs could have going forward or do you believe that the market has sort of gotten used to these deadlines getting pushed? Geoff Dennis: I think the latter. The markets have definitely. The markets have got used to these deadlines being pushed. But were these tariff levels to be actually imposed and presumably a lot more countries may well find that they join this list because this list now is, it came out in two slugs if you like. If these tariffs were imposed, this would eventually cause the markets to be quite volatile for a period of time. They are bad news. They are not good for the global economy. They are not good for the US. Live Events They are not good for all the countries that are being tariffed. It is just we just do not know whether these tariffs are actually be imposed. But this is still absurdly absurd policy, I should say. And it is also worth pointing out that the number of deals that Trump has made on trade, I suppose you could say three, the UK, China, and Vietnam. And perhaps India is not far away and that is why India may get some protection unless I have missed it. I do not think India has been given another tariff announcement if you like in the last week or so. But if he carries these levels through, yes, we will go back to volatile markets just maybe not quite as volatile as they were in April because at the end of the day what investors want to know is what will be the impact on the US economy , what will be the impact on US inflation , what will be the impact on the US trade deficit, and of course, through all of those, what will be the impact on the US dollar? Also, wanted your thoughts on the recent FOMC minutes that came out yesterday. There is a lot of divergence in what officials think the outlook could be for interest rate for the rest of the year. Although 10 on 17 analysts believe that perhaps we could see at least two rate cuts for the rest of this calendar year. How do you view this and what in your opinion will the interest rate trajectory be for this calendar year and for FY26? Geoff Dennis: I think we are going to get two rate cuts, I am in that camp. I do not think we are going to get a rate cut in July. We needed a softer employment report at the beginning of the month to get the rate cut in July, but we will get one in September and one in the fourth quarter because what is happening underneath everything that is going on is the labour market is beginning to soften. It is not softening dramatically, but it is also becoming a little bit, what should we say, fixed in place. There are not many people moving. There are not many people being taking new jobs. There are not many people being laid off. There is just not a lot of new job opportunities. Sentiment towards the labour market is also deteriorated and that is going to be powerful support for a couple of rate cuts. And also, as I have said earlier, if in the end the inflation impact, which frankly we have not really seen yet from the tariffs and just the general inflation story, is perhaps a little bit less fearsome than we all feared it would be a few months ago and to be fair, the Fed feared it would be a few months ago, I think that will open the way for interest rates to be cut. Chair Powell will not cut rates because Trump tells him to. Chair Powell will cut rates because they think the economy is under a little bit of pressure against a background where the inflation story is still reasonably under control.
Economic Times
19 minutes ago
- Economic Times
Gold prices near 1-week low at 96,549/10 grams amid tariff war. Should you buy the dip?
Gold August futures contracts at MCX opened flat, near their 1-week low, at Rs 96,549/ 10 grams on Thursday, which was slightly up by Rs 88 or 0.09%. The prices were supported by a slight retreat in the dollar and bond yields, while investors kept a close tab on trade negotiations as U.S. President Donald Trump broadened his tariff war. ADVERTISEMENT Meanwhile, silver September futures contracts opened higher by Rs 218 or 0.2% at Rs 1,07,483/kg. On Thursday, gold and silver settled on a slightly weaker note in the domestic market and on a mixed note in the international markets. Gold August futures contract settled at Rs 96,461 per 10 grams with a loss of 0.01% and silver September futures contract settled at Rs 1,07,265 per kilogram with a loss of 0.67%. Gold and silver exhibited very high price volatility and extended their fall in the early trading session, but prices rose off the day's low as there were no new surprises in the Fed meeting minutes. The U.S. Fed stated that the current labor market is solid, but requires more clarity on the fronts of inflation and economic members also advocated for a rate cut in the next monetary policy meetings. 'Gold prices recovered from their lows amid possible Fed rate cuts, probably from the September policy meetings. Gold prices hold $3,300 per troy ounce levels amid global uncertainty due to U.S. trade tariffs, while silver prices plunged amid weakness in the industrial metals after Trump announced 50% tariffs on the import of copper,' said Manoj Kumar Jain of Prithvifinmart Commodity Research. ADVERTISEMENT The US dollar index slipped to about 97.3 on Thursday, extending its losing streak as investors shifted toward riskier assets amid a broad surge in stocks and commodities. Today, the US Dollar Index, DXY, was hovering near the 97.39 mark, falling 0.17 or 0.17%.'We expect gold and silver prices to remain volatile this week amid volatility in the dollar index and U.S. trade tariff uncertainty but gold prices could hold its support level of $3,240 per troy ounce and silver prices could also hold $35.40 per troy ounce levels on a weekly closing basis,' he added. ADVERTISEMENT Gold has support at Rs 96,100-95,770 and resistance at Rs 96,850-97,200 Silver has support at Rs 1,06,650-1,06,000 and resistance at Rs 1,07,950-1,08,800 Jain suggests buying gold on dips around Rs 96,200 with a stop loss of Rs 95,770 on a closing basis for a target of Rs 96,900. ADVERTISEMENT Standard gold (22 carat) prices in Delhi stand at Rs 57,408/8 grams while pure gold (24 carat) prices stand at Rs 61,192/8 grams. ADVERTISEMENT Standard gold (22 carat) prices in Mumbai stand at Rs 57,992/8 grams while pure gold (24 carat) prices stand at Rs 61,816/8 gold (22 carat) prices in Chennai stand at Rs 56,672/8 grams while pure gold (24 carat) prices stand at Rs 60,416/8 gold (22 carat) prices in Hyderabad stand at Rs 57,184/8 grams while pure gold (24 carat) prices stand at Rs 60,912/8 grams. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
20 minutes ago
- Time of India
Low rates do not push credit growth: BCG
Mumbai: A new report by the Boston Consulting Group (BCG) warns that Indian banks must prepare for a period of heightened interest rate volatility after more than a decade of relatively stable and downward-trending rates. The study, Interest Rate Sensitivity in Indian Banking, highlights that the impact of policy rate changes on bank performance is neither immediate nor uniform, and that credit growth is more dependent on borrower sentiment and lender confidence than on rates alone. Empirical evidence underscores this point: credit growth remained weak during 2014–2016 and 2018–2020 despite declining or stable rates, while lending surged in 2022–2023 amid rising rates. The only clear instance where falling rates aligned with credit growth was during 2016–2018. BCG finds that unless credit demand is robust, rate cuts—unless sustained for 18–24 months—rarely drive significant lending increases. The Reserve Bank of India (RBI) raised the repo rate by 250 basis points between 2022 and 2023 to tackle inflation, only to cut it by 100 basis points in early 2025 to boost growth. This policy reversal reflects mounting external risks—geopolitical tensions and structural imbalances in the global financial system—that now weigh more heavily on India's interest rate path than domestic growth-inflation trade-offs. 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 BCG's report urges banks to abandon linear forecasting and adopt scenario-based planning. It shows that repo rate changes take 12–24 months to influence key metrics such as credit, deposits, and Net Interest Income (NII), with public sector banks (PSBs) proving more responsive than private ones. A 50 basis point repo hike, for example, led to a 1.4% increase in advances for PSBs, compared to 1.16% overall. Interestingly, deposit mobilisation showed little correlation with interest rates. PSBs, in particular, were largely unaffected, thanks to their stable depositor base. Even private banks responded weakly. Factors such as customer engagement, competition, and liquidity management mattered more than monetary policy. By contrast, NII was highly rate-sensitive. A 50 basis point increase in the repo rate boosted NII by 1.11% across all scheduled commercial banks, and by 1.45% for PSBs. Rate cuts, predictably, led to income declines. To navigate this shifting landscape, BCG recommends overhauling internal pricing frameworks, which still rely too heavily on historical cost of funds. This misaligns profitability and misallocates capital. A move toward marginal cost-based pricing and improved balance sheet simulations is essential. Meanwhile, changing saver preferences—toward mutual funds, pensions, and direct investments—mean banks must use data science to better understand and serve depositors, the report said. Reply to allReplyForward Add reaction Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
