Latest news with #MSAs
&w=3840&q=100)
Business Standard
6 days ago
- Business
- Business Standard
CAG loss estimate on BSNL-RJIL deal misread, correction done: MoS Telecom
The Comptroller and Auditor General of India estimates on losses to BSNL from Reliance Jio Infocomm was based on the misinterpretation of a clause on add-on technology, and it has been rectified in a transparent and equitable manner, Parliament was informed on Wednesday. The CAG report tabled in Parliament in April had said the government suffered a loss of ₹1,757.56 crore as state-owned telecom firm BSNL failed to bill Reliance Jio for 10 years since May 2014 as per their agreement on passive infrastructure sharing. "BSNL has Master Service Agreements (MSAs) with M/s RJIL, for leasing of BSNL's tower infrastructure to install their equipment. There is no revenue loss to BSNL and government. The estimate of CAG was based on the misinterpretation of the clause of add-on technology, which has now been rectified in a transparent and equitable manner. BSNL has since raised the revised invoices from RJIL," Minister of State for Telecom, Pemmasani Chandra Sekhar said in the Lok Sabha in a written reply. On measures taken by the government to fix accountability, recover losses and prevent recurrence of such lapses in the functioning of BSNL, Pemmasani said actions such as resolving the ambiguity in agreement clauses, monetisation of surplus inventory, issuance of revised demands and recovery have been taken. "Further, PSUs have been advised to timely process bills and be extra cautious while taking policy/business decisions," he said. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Time of India
6 days ago
- Business
- Time of India
CAG estimates on losses to BSNL from RJIL a misinterpretation, correction done: MoS Telecom
(You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The Comptroller and Auditor General of India estimates on losses to BSNL from Reliance Jio Infocomm was based on the misinterpretation of a clause on add-on technology, and it has been rectified in a transparent and equitable manner, Parliament was informed on CAG report tabled in Parliament in April had said the government suffered a loss of Rs 1,757.56 crore as state-owned telecom firm BSNL failed to bill Reliance Jio for 10 years since May 2014 as per their agreement on passive infrastructure sharing."BSNL has Master Service Agreements (MSAs) with M/s RJIL, for leasing of BSNL's tower infrastructure to install their equipment. There is no revenue loss to BSNL and government. The estimate of CAG was based on the misinterpretation of the clause of add-on technology, which has now been rectified in a transparent and equitable manner. BSNL has since raised the revised invoices from RJIL," Minister of State for Telecom, Pemmasani Chandra Sekhar said in the Lok Sabha in a written measures taken by the government to fix accountability, recover losses and prevent recurrence of such lapses in the functioning of BSNL, Pemmasani said actions such as resolving the ambiguity in agreement clauses, monetisation of surplus inventory, issuance of revised demands and recovery have been taken."Further, PSUs have been advised to timely process bills and be extra cautious while taking policy/business decisions," he said.
Time of India
6 days ago
- Business
- Time of India
No revenue loss to BSNL, government over lapses flagged by CAG: Pemmasani Chandra Sekhar
New Delhi: There was no revenue loss to BSNL and the government, and the recent estimates quoted in a CAG report were based on misinterpretation of some clauses, Minister for State for Communications Dr PemmasChandra Sekhar informed Lok Sabha on Wednesday in a written Comptroller and Auditor General of India (CAG) in its report No. 01 of 2025 for the year ending March, 2023 pointed out some lapses in contractual compliance, planning, and billing including the total cumulative financial loss of ₹1,944.92 crore by Bharat Sanchar Nigam Limited (BSNL). Asked by Congress MP Praniti Sushilkumar Shinde whether BSNL failed to enforce the Master Service Agreement with Reliance Jio Infocomm Ltd. (RJIL), resulting in a so-called loss of ₹1,757.76 crore, the Minister, without getting into specifics, responded that BSNL has Master Service Agreements (MSAs) with M/s RJIL, for leasing of BSNL's tower infrastructure to install their equipment. "There is no revenue loss to BSNL and Government. The estimate of CAG was based on the misinterpretation of the clause of add-on technology, which has now been rectified in a transparent and equitable manner. BSNL has since raised the revised invoices from RJIL," the minister's written reply in Lok Sabha read. In another query, the minister was asked whether BSNL deviated from its own Procurement Manual in procuring oversized PIJF underground cables worth ₹80.64 crore, which remain unutilized. To which, the minister said the procurement of higher size PIJF underground cables was as per then extant norms. "However, due to changed competitive scenario in telecom sector, the procured cable could not be fully utilized. The surplus cable has been monetized by BSNL to the tune of ₹70.32 crore and the remaining cable has a sale value of approximately ₹23 Crore," the Lower House was apprised. To recover losses and prevent recurrence of such lapses in the functioning of BSNL and other PSUs, actions such as resolving the ambiguity in agreement clauses, monetisation of surplus inventory, issuance of revised demands and recovery have been taken, the minister supplemented. Further, PSUs have been advised to timely process bills and be extra cautious while taking policy/business decision.
Yahoo
08-07-2025
- Business
- Yahoo
50 Worst Housing Markets in the US for Growth
Whether you're planning to sell or refinance, ensure you're paying the correct amount in property taxes and insurance, or just wanting to keep tabs on market trends, it's important to understand your home's value. Many American cities have seen that value decrease over the last year or two — some substantially. Find Out: Learn More: To determine the current 'worst' U.S. housing markets, GOBankingRates analyzed Zillow's May 2025 data. Cities in the 250 largest Metro Statistical Areas (MSAs) were ranked based on a blend of year-over-year and two-year changes in home value (percentage and dollar value), mean days from listing to pending, mean list-to-sale ratio, mean days from pending to close, share of listings with a price cut, and mean price cut. We've included the full methodology at the end of this story. Here are some key findings, based on this analysis: The city of Punta Gorda — located in southwest Florida about 110 miles from Tampa — has the country's worst housing market. Punta Gorda saw the largest year-over-year decrease in home value based on percentage (-10.05%). It was followed by Cape Coral, Florida (-8.19%), and Northport, Florida (-7.49%). Punta Gorda also showed the largest two-year value loss by far, with homes shedding more than 12% of their value between May 2023 and May 2025. Several larger cities — Austin, Tampa and New Orleans — are among the top 10 worst markets. Many of the cities in the list actually showed strong overall growth between May 2023 and May 2025, before hitting a slowdown in the past year. Here's the full 50-city list. Also see housing markets that will skyrocket by the end of the year. May 2025 average home value: $275,275 1-year change in home value: 0.50% 2-year change in home value: 2.97% Check Out: Also See: May 2025 average home value: $259,162 1-year change in home value: -0.25% 2-year change in home value: 0.37% See More: May 2025 average home value: $146,416 1-year change in home value: 3.34% 2-year change in home value: 8.95% May 2025 average home value: $1,204,009 1-year change in home value: -2.04% 2-year change in home value: 2.74% May 2025 average home value: $403,905 1-year change in home value: -0.17% 2-year change in home value: -0.82% May 2025 average home value: $196,168 1-year change in home value: 0.19% 2-year change in home value: 4.61% May 2025 average home value: $292,884 1-year change in home value: -1.09% 2-year change in home value: 3.85% Discover More: May 2025 average home value: $245,756 1-year change in home value: -0.61% 2-year change in home value: 1.18% May 2025 average home value: $161,148 1-year change in home value: 0.11% 2-year change in home value: 0.90% May 2025 average home value: $200,285 1-year change in home value: -0.65% 2-year change in home value: 1.90% May 2025 average home value: $195,609 1-year change in home value: -0.10% 2-year change in home value: 3.15% May 2025 average home value: $617,695 1-year change in home value: -1.64% 2-year change in home value: 0.76% Explore More: May 2025 average home value: $206,888 1-year change in home value: 0.58% 2-year change in home value: 3.87% May 2025 average home value: $320,636 1-year change in home value: -1.17% 2-year change in home value: 3.33% May 2025 average home value: $194,903 1-year change in home value: -0.02% 2-year change in home value: 5.12% May 2025 average home value: $357,885 1-year change in home value: -0.89% 2-year change in home value: 0.96% May 2025 average home value: $361,756 1-year change in home value: -1.75% 2-year change in home value: 2.40% See More: May 2025 average home value: $395,784 1-year change in home value: -2.03% 2-year change in home value: 2.34% May 2025 average home value: $254,036 1-year change in home value: -2.32% 2-year change in home value: -3.18% May 2025 average home value: $208,038 1-year change in home value: -2.84% 2-year change in home value: -2.42% May 2025 average home value: $365,957 1-year change in home value: -1.40% 2-year change in home value: 0.78% May 2025 average home value: $256,616 1-year change in home value: -1.48% 2-year change in home value: -0.20% Find Out: May 2025 average home value: $175,211 1-year change in home value: 0.48% 2-year change in home value: -1.11% May 2025 average home value: $565,729 1-year change in home value: -0.96% 2-year change in home value: 0.54% May 2025 average home value: $409,504 1-year change in home value: -2.50% 2-year change in home value: 1.11% May 2025 average home value: $318,323 1-year change in home value: -1.28% 2-year change in home value: 0.44% May 2025 average home value: $328,932 1-year change in home value: -2.40% 2-year change in home value: -1.09% Read More: May 2025 average home value: $300,927 1-year change in home value: -2.26% 2-year change in home value: -0.33% May 2025 average home value: $571,719 1-year change in home value: -1.10% 2-year change in home value: 7.09% May 2025 average home value: $198,154 1-year change in home value: -2.81% 2-year change in home value: -4.38% May 2025 average home value: $466,712 1-year change in home value: -2.77% 2-year change in home value: 1.62% May 2025 average home value: $365,803 1-year change in home value: -2.33% 2-year change in home value: -0.79% Check Out: May 2025 average home value: $411,945 1-year change in home value: -2.98% 2-year change in home value: -2.33% May 2025 average home value: $380,068 1-year change in home value: -2.82% 2-year change in home value: -1.37% May 2025 average home value: $219,045 1-year change in home value: -2.33% 2-year change in home value: -1.59% May 2025 average home value: $308,714 1-year change in home value: -3.59% 2-year change in home value: -1.87% May 2025 average home value: $281,989 1-year change in home value: -2.34% 2-year change in home value: -1.80% See More: May 2025 average home value: $287,611 1-year change in home value: -3.07% 2-year change in home value: -5.00% May 2025 average home value: $359,107 1-year change in home value: -3.58% 2-year change in home value: -1.32% May 2025 average home value: $196,047 1-year change in home value: -1.93% 2-year change in home value: -6.91% May 2025 average home value: $187,393 1-year change in home value: -5.01% 2-year change in home value: -2.18% May 2025 average home value: $405,319 1-year change in home value: -3.52% 2-year change in home value: -0.56% Also Find: May 2025 average home value: $338,186 1-year change in home value: -3.80% 2-year change in home value: -2.20% May 2025 average home value: $254,505 1-year change in home value: -2.23% 2-year change in home value: -9.01% May 2025 average home value: $383,706 1-year change in home value: -4.46% 2-year change in home value: -1.03% May 2025 average home value: $458,253 1-year change in home value: -4.99% 2-year change in home value: -8.72% Learn More: May 2025 average home value: $700,334 1-year change in home value: -6.62% 2-year change in home value: -2.58% May 2025 average home value: $374,134 1-year change in home value: -8.19% 2-year change in home value: -8.82% May 2025 average home value: $439,876 1-year change in home value: -7.49% 2-year change in home value: -7.90% May 2025 average home value: $331,375 1-year change in home value: -10.05% 2-year change in home value: -12.29% Methodology: For this piece, GOBankingRates looked at the Real Estate market's 250 largest Metro Statistical Areas (MSAs) and sourced the following ten factors: (1) 1-year percent change in home value; (2) 1-year change in home value in USD; (3) 2-year percent change in home value; (4) 2-year change in home value in USD; (5) for-sale inventory; (6) mean days from listing to pending; (7) mean list-to-sale ratio; (8) mean days from pending to close; (9) share of listings with a price cut; and (10) mean price cut. All data was sourced from Zillow's May 2025 data. All 10 factors were scored and combined, with the highest scores determining the worst housing markets. Numbers for (1), (2), (9), and (10) were weighted 2x, and factor (5) was weighted 0.5x. All data was collected on and is up to date as of June 16, 2025. This article originally appeared on 50 Worst Housing Markets in the US for Growth Sign in to access your portfolio
IOL News
26-06-2025
- Health
- IOL News
Understanding the limitations of traditional gap cover in South Africa
Explore how the rising costs of healthcare in South Africa are impacting families and discover how innovative gap cover products can provide essential outpatient support. As we reach the year's halfway point, many South Africans are beginning to feel the financial pinch, not just from rising living costs, but also from depleted Medical Savings Accounts (MSAs). It's in these moments that the limitations of traditional gap cover become painfully clear. While most gap cover products are designed to bridge shortfalls during hospital admissions, they rarely support outpatient and day-to-day medical costs. The growing cost of outpatient care According to the Council for Medical Schemes 2022/2023 Annual Report, South Africans paid close to R40 billion out-of-pocket for healthcare, with nearly half of that going toward outpatient services, not hospital stays. These costs include essential visits to specialists, radiologists, and dentists, which are often not fully covered once MSAs are exhausted. Rethinking the role of Gap Cover Recognising this shortfall, some newer-generation gap cover products have introduced day-to-day benefits designed to step in once MSA or scheme sub-limits are depleted.
