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Hans India
09-07-2025
- Politics
- Hans India
Alleti lays foundation stone for CC road construction
Nirmal: Legislative Party leader for BJP Alleti Maheshwar Reddy laid the foundation stone for a new CC road construction project in Mayapur village of Dilawarpur mandal, funded by CRR at a cost of Rs 30 lakhs. On this occasion, Maheshwar Reddy stated that he would always stand by and work for the development of Mayapur village. He also assured efforts to secure housing approvals for eligible poor residents who don't own homes. Participating in the event were leaders including Ramnath, former Nirmal Mandal Parishad President V Satyanarayana Goud, recently serving ZPTC Thakkal Ramana Reddy, former MPTC Satyam Chandrakant, and others.
Economic Times
05-07-2025
- Business
- Economic Times
VRRR auction draws robust response amid surplus liquidity in the system
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The Reserve Bank of India (RBI) received significantly higher responses for the variable rate reverse repo operation (VRRR) auction on the back of more than ₹4 lakh crore surplus liquidity in the banking seven-day VRRR operation, seeking to absorb liquidity from the banking system, received bids for ₹1.70 lakh crore, higher than the notified amount of ₹1 lakh crore. The RBI accepted the notified amount at a weighted average rate of 5.44%. This amount will be reversed on July the previous 7-day VRRR auction , the RBI received bids for ₹84,975 crore, lower than the notified amount of ₹1 lakh crore, and the cut-off weighted average rate was 5.45%. Banking system liquidity stood at a sharp surplus of ₹4.04 lakh crore on July 3-the highest since May 19, 2022. Of the surplus, banks have parked ₹3.27 lakh crore in the standing deposit facility (SDF) wherein the RBI offers 5.25%.Further infusion of liquidity will come after the impact of the CRR cut, which would release ₹2.5 lakh crore of primary liquidity starting September until December 2025."The focus of the VRRR is on transmission, the intent will be to make sure that the treps rate does not fall below the SDF rate, rather than getting the call rate to repo. VRRR does not remove liquidity, but increases the cost of liquidity, thus pushing up overnight rates," said Gaura Sengupta, chief economist of IDFC First Bank Treps stands for Treasury Bills Repurchase. On Friday, the treps rate stood at 5.18%, while the call rate was at 5.29%, CCIL data showed. The focus of the VRRR is to bring overnight rates (treps and call rate) within the liquidity adjustment facility (LAF) corridor. LAF corridor stands between 5.25% to 5.75%, with the midpoint of 5.50% as the repo rate
Time of India
05-07-2025
- Business
- Time of India
VRRR auction draws robust response amid surplus liquidity in the system
The Reserve Bank of India (RBI) received significantly higher responses for the variable rate reverse repo operation (VRRR) auction on the back of more than ₹4 lakh crore surplus liquidity in the banking system. The seven-day VRRR operation, seeking to absorb liquidity from the banking system, received bids for ₹1.70 lakh crore, higher than the notified amount of ₹1 lakh crore. The RBI accepted the notified amount at a weighted average rate of 5.44%. This amount will be reversed on July 11. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Brain tumor has left my son feeling miserable; please help! Donate For Health Donate Now Undo In the previous 7-day VRRR auction , the RBI received bids for ₹84,975 crore, lower than the notified amount of ₹1 lakh crore, and the cut-off weighted average rate was 5.45%. Banking system liquidity stood at a sharp surplus of ₹4.04 lakh crore on July 3-the highest since May 19, 2022. Of the surplus, banks have parked ₹3.27 lakh crore in the standing deposit facility (SDF) wherein the RBI offers 5.25%. Further infusion of liquidity will come after the impact of the CRR cut, which would release ₹2.5 lakh crore of primary liquidity starting September until December 2025. Live Events "The focus of the VRRR is on transmission, the intent will be to make sure that the treps rate does not fall below the SDF rate, rather than getting the call rate to repo. VRRR does not remove liquidity, but increases the cost of liquidity, thus pushing up overnight rates," said Gaura Sengupta, chief economist of IDFC First Bank . Treps stands for Treasury Bills Repurchase. On Friday, the treps rate stood at 5.18%, while the call rate was at 5.29%, CCIL data showed. The focus of the VRRR is to bring overnight rates (treps and call rate) within the liquidity adjustment facility (LAF) corridor. LAF corridor stands between 5.25% to 5.75%, with the midpoint of 5.50% as the repo rate .
The Irish Sun
01-07-2025
- Business
- The Irish Sun
Game is shutting down MORE stores in just weeks with 20% off ‘everything must go' sale
BRITISH retailer GAME has announced the closure of yet another store as it dials back its presence on the highstreet. The retailer's long-standing Chatham store, inside the Pentagon Centre, will shut in September. 1 The video game retailer has undergone significant restructuring and downsizinG Credit: Google maps The GAME shop in Victoria Centre, Nottingham, is also set to close its doors next month. Stock in all stores must go, with most items being flogged at 20 per cent off. GAME sells a variety of video games, consoles and pop culture merchandise. Shoppers in the Chatham store can get 20 per cent off all full price toys, board games, LEGO, video games, plushies and gaming accessories like headphones. READ MORE ON TECH CLOSURES The Chatham branch narrowly avoided closure in 2020 when 40 locations across the UK were axed. The retailer has shut a number of its locations across the UK in recent months. The Frasers Group , which acquired GAME in 2019 as part of a £52million deal , has been converting stores into concessions within Sports Direct and other stores owned by the group. The video game retailer has undergone significant restructuring and downsizing. Most read in Tech While plans don't indicate that the stores will disappear from the British high street completely many locations are expected to close. GAME, in Festival Place, Basingstoke, will also be holding a 20 per cent off everything closing down sale before shutting up shop for good on August 10. The retailer has given no reason for the abrupt departures from shopping centres in the UK. However, the decline comes amid a significant drop in sales of physical video games, compared to Game's heyday in the early 2000s. The Digital Entertainment and Retail Association (ERA) revealed that in 2022, nearly 90 per cent of all video games sold in the UK were digital downloads. Why are retailers closing stores? RETAILERS have been feeling the squeeze since the pandemic, while shoppers are cutting back on spending due to the soaring cost of living crisis. High energy costs and a move to shopping online after the pandemic are also taking a toll, and many high street shops have struggled to keep going. However, additional costs have added further pain to an already struggling sector. The British Retail Consortium has predicted that the Treasury's hike to employer NICs from April will cost the retail sector £2.3billion. At the same time, the minimum wage will rise to £12.21 an hour from April, and the minimum wage for people aged 18-20 will rise to £10 an hour, an increase of £1.40. The Centre for Retail Research (CRR) has also warned that around 17,350 retail sites are expected to shut down this year. It comes on the back of a tough 2024 when 13,000 shops closed their doors for good, already a 28% increase on the previous year. Professor Joshua Bamfield, director of the CRR said: "The results for 2024 show that although the outcomes for store closures overall were not as poor as in either 2020 or 2022, they are still disconcerting, with worse set to come in 2025." It comes after almost 170,000 retail workers lost their jobs in 2024. End-of-year figures compiled by the Centre for Retail Research showed the number of job losses spiked amid the collapse of major chains such as Homebase and Ted Baker. It said its latest analysis showed that a total of 169,395 retail jobs were lost in the 2024 calendar year to date. This was up 49,990 – an increase of 41.9% – compared with 2023. It is the highest annual reading since more than 200,000 jobs were lost in 2020 in the aftermath of the COVID-19 pandemic, which forced retailers to shut their stores during lockdowns. The centre said 38 major retailers went into administration in 2024, including household names such as Lloyds Pharmacy, Homebase, The Body Shop, Carpetright and Ted Baker. Around a third of all retail job losses in 2024, 33% or 55,914 in total, resulted from administrations. Experts have said small high street shops could face a particularly challenging 2025 because of Budget tax and wage changes. Professor Bamfield has warned of a bleak outlook for 2025, predicting that as many as 202,000 jobs could be lost in the sector. "By increasing both the costs of running stores and the costs on each consumer's household it is highly likely that we will see retail job losses eclipse the height of the pandemic in 2020."
Scottish Sun
20-06-2025
- Business
- Scottish Sun
Supermarket chain with 300 stores launching closing down sale ahead of shutting popular site this weekend
A POPULAR supermarket chain is launching a huge closing-down sale this weekend, as it shuts one of its 300 high street stores. The budget foodstore has been providing shoppers with bargains in the busy shopping precinct for over two decades. Advertisement 2 A budget foodstore is closing the doors to one of its stores this weekend Credit: Getty 2 Farmfoods in Ilkeston is set to close after two decades Credit: Alamy Farmfoods, in Ilkeston, Derbyshire, is closing its doors for the final time this Sunday, June 22, with the remaining stock being sold off at a reduced price. Shoppers have been left devastated by the news, which marks another blow for the high street. Posting in the Ilkeston Life Facebook group, one person said of the Scottish store, which was founded in 1954. "A blow for savvy Ilkeston shoppers - Farmfoods in the precinct is closing. Advertisement "It will be missed by many people, and the pleasant, helpful staff will be out of a job. "Shops like this are a lifeline to many folk." The post was flooded with comments from locals, sharing their sadness at the loss. One person said: "Soon the precinct will be empty...." Advertisement A second person said: "It will be a sad day to see another shop closing. "It always seems to be busy though so it makes no sense." NatWest to close 53 bank branches in fresh blow to UK high street – see if your local is affected A third person added: "Oh what a shame, it will be sorely missed." This follows the news that Poundland has confirmed plans to shut 68 stores, with up to 150 at risk of closure. Advertisement The struggling discount chain was sold for just £1 last week and it was expected a major shake-up would be needed to rescue it. Poundland has now announced a huge series of changes aimed at keeping itself afloat - although these will need to be approved by the High Court in August. Why are retailers closing stores? RETAILERS have been feeling the squeeze since the pandemic, while shoppers are cutting back on spending due to the soaring cost of living crisis. High energy costs and a move to shopping online after the pandemic are also taking a toll, and many high street shops have struggled to keep going. However, additional costs have added further pain to an already struggling sector. The British Retail Consortium has predicted that the Treasury's hike to employer NICs from April will cost the retail sector £2.3billion. At the same time, the minimum wage will rise to £12.21 an hour from April, and the minimum wage for people aged 18-20 will rise to £10 an hour, an increase of £1.40. The Centre for Retail Research (CRR) has also warned that around 17,350 retail sites are expected to shut down this year. It comes on the back of a tough 2024 when 13,000 shops closed their doors for good, already a 28% increase on the previous year. Professor Joshua Bamfield, director of the CRR said: "The results for 2024 show that although the outcomes for store closures overall were not as poor as in either 2020 or 2022, they are still disconcerting, with worse set to come in 2025." It comes after almost 170,000 retail workers lost their jobs in 2024. End-of-year figures compiled by the Centre for Retail Research showed the number of job losses spiked amid the collapse of major chains such as Homebase and Ted Baker. It said its latest analysis showed that a total of 169,395 retail jobs were lost in the 2024 calendar year to date. This was up 49,990 – an increase of 41.9% – compared with 2023. It is the highest annual reading since more than 200,000 jobs were lost in 2020 in the aftermath of the COVID-19 pandemic, which forced retailers to shut their stores during lockdowns. The centre said 38 major retailers went into administration in 2024, including household names such as Lloyds Pharmacy, Homebase, The Body Shop, Carpetright and Ted Baker. Around a third of all retail job losses in 2024, 33% or 55,914 in total, resulted from administrations. Experts have said small high street shops could face a particularly challenging 2025 because of Budget tax and wage changes. Professor Bamfield has warned of a bleak outlook for 2025, predicting that as many as 202,000 jobs could be lost in the sector. "By increasing both the costs of running stores and the costs on each consumer's household it is highly likely that we will see retail job losses eclipse the height of the pandemic in 2020." They include ditching its frozen food items, getting rid of its loyalty scheme app and no longer selling products online. The Original Factory Shop has also recently launched another closing-down sale as the brand pulls the shutters on another store. Advertisement The discount department store has slashed the prices on everything, from clothing to gardening tools to toys. Clothing rails have been tagged with percentage-off signs as high as 30 per cent off. And a major DIY retailer has launched a huge closing-down sale as it prepares to close one of its branches in weeks. The Hobbycraft store in Imperial Park, Bristol, has confirmed that it will close its doors for good on June 21.
