Latest news with #Hundi
Hans India
2 days ago
- Business
- Hans India
Kanipakam temple receives hundi offerings of over Rs 1.81 crore
Kanipakam: Sri Varasiddhi Vinayaka Swamy temple at Kanipakam has recorded Rs 1,81,84,138 in Hundi collections over the past 24 days. The offerings also included 40 grams of gold and 790 grams of silver. The temple received Rs 21,032 through the Gosamrakshana Hundi and Rs 53,031 through the Nitya Annadanam Hundi. Donations in foreign currency included 2,488 US dollars, 5 British pounds, 230 Dirhams, 55 Canadian dollars, and 20 Euros. Temple Executive Officer Penchala Kishore stated that the counting was carried out transparently. Participating in the process were DEO Sagar Babu, AEOs S V Krishna Reddy, Ravindra Babu, Harimadhava Reddy, Prasad, Dhananjaya, Dhanapal, CFO Nageswara Rao, Supervisors Kodandapani and Sridhar Babu, along with temple staff, volunteers, and Union Bank officials from the Kanipakam branch.
Business Recorder
3 days ago
- Business Recorder
Crackdown on human traffickers, illegal currency networks launched
ISLAMABAD: In a series of coordinated operations across multiple regions, the Federal Investigation Agency (FIA) has arrested 10 suspects involved in human trafficking, visa fraud, and illegal currency exchange. The crackdown was carried out on the directives of FIA Director General Rafat Mukhtar Raja, as part of an intensified campaign to dismantle smuggling and financial crime networks operating across the country. FIA Multan Zone arrested three individuals, including Feroze Qaiser Sagu, a most-wanted human smuggler. Other arrested suspects include Muhammad Azam and Muhammad Wazir. The trio allegedly defrauded citizens by promising employment abroad, extracting large sums of money without delivering. Feroze Qaiser, apprehended in Khanewal, has nine cases registered against him in the Multan Zone and additional charges in Faisalabad. He reportedly scammed over Rs. 8.2 million from victims by offering fake job placements in Dubai and Saudi Arabia. Muhammad Azam is accused of defrauding Rs. 600,000 under the pretence of employment in Azerbaijan. Muhammad Wazir allegedly extorted Rs. 2.36 million from citizens for promised jobs in the UAE. FIA Lahore Zone conducted raids in Lahore and Islamabad, arresting Naveed Tahir and Zubair Muhammad, both charged with visa fraud. Naveed Tahir allegedly took Rs. 1.68 million from a citizen, promising a job in Lithuania Zubair Muhammad is accused of swindling Rs. 700,000 under the guise of securing a US visa. Both suspects failed to provide the promised visas and had gone into hiding before being apprehended. In another significant operation, FIA Balochistan Zone arrested five individuals — Akmal Khan, Saifullah, Basheer Ahmed, Abdul Qayoom, and Abdullah — involved in illegal currency exchange and Hawala/Hundi operations in Quetta and Chaman Authorities seized a large sum of currency during the raids, including: Rs. 684,000 in Pakistani rupees 230.5 million Iranian Rials over 135,000 Afghanis 700 US dollars, 200 Saudi Riyals, and 150 Australian Dollars. Investigators also recovered cheque books, receipts, and bank slips linked to Hawala operations. The suspects were allegedly operating without proper licenses and failed to explain the source of the recovered funds. All suspects have been taken into custody and investigations are ongoing. According to the FIA spokesperson, the agency remains committed to a zero-tolerance policy against human trafficking, visa fraud, and illegal financial operations.
Hans India
24-07-2025
- Entertainment
- Hans India
TTD to release Rs. 300 special darshan tickets for October
The Tirumala Tirupati Devasthanams (TTD) is set to release special darshan tickets for the month of October today. Tickets priced at Rs. 300 will be available starting at 10 am, while room quotas for Tirumala and Tirupati will be made available at 3 pm. Meanwhile, the influx of devotees continues in Tirumala, where worshippers are currently lined up in 18 compartments. The waiting time for Srivari Sarva Darshan is estimated to be between 10 to 12 hours. On Wednesday, the temple saw a remarkable attendance of 80,130 devotees, with 26,786 individuals participating in the offering of hair. The income from the Hundi collection reached an impressive Rs. 4.55 crore
Time of India
01-07-2025
- Business
- Time of India
Tirumala temple year's highest single-day Hundi collection of Rs 5.3 cr
Tirupati: Lord Venkateswara temple in Tirumala registered the year's highest Hundi collection of Rs 5.3 crore on Monday despite a mediocre pilgrim footfall in the hill town. This is the highest single-day Hundi collection received by the temple in the last one year. According to TTD sources, 78,730 pilgrims worshipped at Tirumala temple on Monday, which is lower than the high pilgrim footfall of one lakh and above, usually recorded during festive occasions and summer season. Despite the normal rush, the richest Hindu temple in the world received Rs 5.3 crore in its Hundi, the highest of the year so far. The highest single-day Hundi collection was recorded on Jan 2, 2023, when the temple received Rs 7.68 crore in a single day. There have also been instances in the past when the temple received single-day Hundi collections exceeding Rs 6 crore. Tirumala temple, renowned for its riches, receives Rs 100 crore to Rs 140 crore in Hundi collections and about 100 kgs to 140 kgs of gold as donations from visiting devotees every month. TTD's investments in fixed deposits in banks amount to a little over Rs 20,000 crore, and the TTD also has over 12 tons of gold invested with banks under the gold monetisation scheme. Get the latest lifestyle updates on Times of India, along with Doctor's Day 2025 , messages and quotes!
Express Tribune
30-06-2025
- Business
- Express Tribune
PBA refutes claims subsidies serve no purpose
The Pakistan Banks Association (PBA) has strongly rejected "misleading assertions" in recent press coverage, suggesting that government subsidies to banks under remittance incentive schemes serve no economic purpose. "Such narratives dangerously undermine public confidence at a time when Pakistan's financial stability depends on robust formal remittance flows," the association said in a statement. It recalled that when the Pakistan Remittance Initiative (PRI) was conceptualised in 2008, formal remittances stood at only $6.5 billion, while an estimated $20 billion flowed through undocumented Hawala/Hundi channels, exacerbating balance of payments pressures. The PRI, launched in 2009, was a homegrown solution to shift flows to formal banking channels, offering an initial incentive of SAR 20 per transaction, approximately 2.25% of the average $500 transaction, which was far more viable than foreign borrowings carrying interest rates above 3.5% plus long-term repayment obligations and exchange rate risks. In contrast, PRI incentives are one-time PKR payments with no repayment liability, making them a strategic win-win for Pakistan's economy, the PBA said. According to the association, banks do not profit from these incentives. In reality, they bear enormous costs to remain competitive, offering higher rebates and forex premiums to money transfer operators and remitters abroad. "These costs are only partially offset by government incentives, with the remainder absorbed by banks to maintain essential liquidity for import payments and economic stability." Allegations that banks manipulate remittance data, launder undeclared funds, or facilitate tax evasion are baseless, it stressed, adding that banks operate under strict SBP regulations, AML/CFT frameworks, and independent audits. "The classification of freelancer and IT exporter earnings as remittances is a policy classification issue needing regulatory clarity, not bank misconduct."
