Latest news with #NSC
The Star
14 hours ago
- Sport
- The Star
Keep LTdL on the pedal please but drop tax on bikes, for Pete's sake!
A RECENT workshop organised by the National Sports Council (NSC) to discuss the future direction of Le Tour de Langkawi (LTdL) has raised fears that the long running cycling race may not survive beyond this year. This is because, this year may be the last year that Petronas will be the title sponsors. Billed as RM9.73 for the 1st month then RM13.90 thereafters. RM12.33/month RM8.63/month Billed as RM103.60 for the 1st year then RM148 thereafters. Free Trial For new subscribers only
ITV News
20 hours ago
- Sport
- ITV News
Sir Mark Cavendish makes triumphant return to Isle of Man after raceway named in his honour
ITV Granada's sports correspondent Chris Hall speaks to Sir Mark Cavendish as he relaunches the raceway renamed in his honour Sir Mark Cavendish has returned to the Isle of Man raceway where he fell in love with cycling as a young boy, to see it renamed in his honour. Children from every school in the Island were on hand for the launch of the Sir Mark Cavendish Raceway at the National Sports Centre in Douglas, which marks the culmination of a community project involving thousands of young people. During the event, Sir Mark completed a timed lap of the 1km circuit before joining hundreds of children for a celebratory ride-out. He unveiled a new podium, a custom finish line, permanent signage, and a giant woven quote bearing the words: 'I dreamed of being like my heroes'. A large artwork featuring the names of pupils from every Isle of Man school was also revealed. Sir Mark and his children searched for their own names among them. 'I love this place,' he added. 'We're so lucky with what we have in the Isle of Man - the NSC, the facilities, the support. I wouldn't be where I am without it.'The project aims to celebrate Sir Mark's legacy by encouraging the next generation to follow their dreams as he did, while recognising the place where his extraordinary journey began. The pupils were joined by members of Sir Mark's former cycling club to watch the Manx Missile complete a timed 'hot lap' of the 1km circuit, before joining him for a special ride-out ceremony also involved a giant artwork featuring the names of hundreds of pupils which was unveiled, alongside a new podium, custom finish line, and permanent signage. The display centres on an inspirational quote: 'I dreamt of being like my heroes.', drawn from Sir Mark's own reflections before childhood races, and it helps to inspired the entire project. Children have played a creative role throughout — nominating their own heroes, designing banners, and submitting questions for Sir Mark, with a number of lucky pupils being selected to interview him about his life and Mark said: 'I fell in love with cycling right here. It's where it all began for me, so it's a very special place. "I am deeply moved by the thought and detail that has gone into every element." Sir Mark turned professional at 18 and claimed 165 career wins, including a record 35 Tour de France stage victories, making him one of the most decorated riders in cycling history. Daphne Caine MHK, Minister for Education, Sport and Culture, said: 'This exciting project shows that with belief and determination, anything is possible. Sir Mark is a fantastic role model, and young people are truly at the heart of this — just as he wished.' Deborah Heather, CEO of Visit Isle of Man, added: 'This place played a key role in Sir Mark's journey — and we're thrilled to help tell that story to the world. Imagine having the golf club where Tiger Woods first played golf or the football pitch where Lionel Messi scored his first goal – the Isle of Man has something very special and this project honours it.'
Economic Times
a day ago
- Business
- Economic Times
Can interest rate on PPF fall below 6.5% after repo rate cut of 1% this year?
ET Online The government is set to review the interest rates for small savings schemes like the Public Provident Fund (PPF), National Savings Certificate (NSC), Senior Citizens Savings Scheme (SCSS), and more, on June 30, 2025. So far, the interest rates on the Post Office Savings Scheme have stayed the same since the beginning of the year. But that may change now as the Reserve Bank of India (RBI) has significantly reduced the repo rate by a total of 1% this year. Bond yields have also adjusted to the falling interest rate, and banks have followed the suit by lowering the interest rates on fixed deposits. PPF is currently offering an interest rate of 7.1% which is very close to the lowest interest rate seen in the last 5 decades. Last time, PPF interest rate was seen below 7% was before August 1974. PPF being one of the most popular small saving schemes for long term investment, where investors have been used to expecting an attractive interest rate, any significant drop in interest rate could take the returns to a historically low level and may leave many disappointed. Let us check out how likely it is. Also Read: Are PPF, NSC and other small savings scheme interest rate headed for historic lows? How the Government decides PPF interest The interest rate on PPF is based on a formula recommended by the Shyamala Gopinath Committee. Following the committee's suggestions, the PPF interest rate is pegged 25 basis points above the average of a 10-year G-Sec yield for the previous to data available on the average yield for the 10-year G-Sec was 6.319% between March 25, 2025, and June 25, 2025. When you add those 25 basis points, the PPF interest rate comes out to 6.569%. It is crucial to note that the formula recommended by the committee is not binding on the government. Can the government bring the PPF interest rate below 6.5%? ET Wealth online spoke to experts about whether the government can lower the PPF interest rate below 6.5% if the bond yield continues to fall. Here is what they have to say: Namrata Mittal, Chief Economist, SBI Mutual Fund, says: Shyamala Gopinath Committee (2010) on Small Savings was tasked to review the interest rate structures and administration of small savings in India, including the PPF. The committee had recommended that interest rates for small savings schemes like PPF, should be linked to market yields of government securities (G-secs) of similar maturity. Specifically for PPF, the rate should be linked to the average yield of 10-year government bonds, with a spread of 25 bps above it, thus allowing the PPF rate to be more adaptable to changing economic conditions. However, the resets haven't truly been in line with the committee's recommendations. They have remained constant at 7.1% since April 2020. The committee has suggested that the government should reset these interest rates annually, aligned with the previous year's G-sec average yields. The average 10-year G-sec in FY25 was approximately 6.8-6.9%. Therefore, the 25 bps of mark-up could maintain the PPF rate at 7.1%. Plus, the small savings collection is moderating. The government collected Rs 4.5 trillion under small savings and PPF (combined) in FY24. It's likely to decrease to Rs 4.3 trillion in FY25 (RE stands at 4.1 trillion) and is projected to further decline to Rs 3.4 trillion in FY26 (according to Budgets). The slowdown in small savings is the combined effect of high base (from investment limits upgrade in Union budget 2024) and better returns in alternate avenues of financial savings (like capital market). In this context, a negative shift in interest rate seems less probable. Suresh Darak, Founder, Bondbazaar, says: "While we have seen short-term interest rates drop with the latest round of Repo rate and CRR rate cuts, the 10-year G-Sec has continued to trade in a narrow range around 6.5% for the last five years. Since PPF is a long-term investment with a 15-year lock-in, its returns are unlikely to be pegged below 6.5%. Moreover, the returns on PPF investment at 7.1% is already lower compared to other government saving schemes such as Senior Citizens Savings Scheme (8.2%), Sukanya Samriddhi Yojana (8.2%) and Kisan Vikas Patra (7.5%). PPF provides stable long-term financing to the government, unlike G-Sec, which is more susceptible to market forces and geopolitical risks. Lowering the interest rate on PPF from this level may lead to an outflow of funds to other investment avenues. Thus, it is unlikely that there will be a significant cut in PPF rate, and it should not go below 6.5%." Vineet Agrawal, Cofounder, Jiraaf, a Bond Investment platform, says: The PPF interest rate has held steady at 7.1% for an extended period, despite notable shifts in the interest rate environment. As per the Shyamala Gopinath committee's recommendations, small savings rates-including PPF-should be market-linked and set within a band of 25 to 100 basis points above the yields of government securities with similar maturities. Currently, the 10-year G-sec yield has dropped below 6.5% and is stabilising around 6.3% in response to the 100 basis points repo rate cut seen this year. The growing divergence suggests that the current PPF rate exceeds the recommended spread. With falling G-sec yields, the Finance Ministry will likely move to realign the PPF rate in the coming quarter. While a reduction below 6.5% is technically feasible, any such move would need to weigh alignment with market rates against the political and social sensitivities of lowering returns on a key household savings instrument. Adhil Shetty, CEO, says: It is important to remember that the formula recommended by the Shyamala Gopinath Committee is indicative and not binding, and the government has frequently deviated from it. The government can reduce the PPF interest rate below 6.5% if G-sec yields fall. However, PPF and other small savings are heavily influenced by political, behavioural, and economic factors. PPF is a household savings favourite, and reducing it to below 6.5% can have a serious impact on middle-class and retirement savers. A sharp cut could push savers to exit formal channels or chase riskier products, thereby undermining financial inclusion goals. The government will be wary of any drastic cuts in small savings rates. However, given the high liquidity and falling repo rates, slow correction over time cannot be ruled out. Has the PPF, since its inception, had an interest rate below 6.5%? According to data available from the National Savings Institute, the interest rate on PPF has dipped below 6.5% on four occasions. Initially, when the PPF was launched, it was offering an interest rate of 4.8% from 1968-69 to 1969-70. Following that, from 1970-71 to 1972-73, the PPF scheme offered 5% interest. In 1973-74, the rate increased to 5.3% and then from April 1, 1974, to July 31, 1974, it rose to 5.8%. PPF interest rate since inception YEAR RATE OF INTEREST (%) 1968-69 TO 1969-70 4.8 1970-71 TO 1972-73 5 1973-74 5.3 01.04.1974 TO 31.07.1974 5.8 01.08.1974 TO 31.03.1975 7 1975-76 TO 1976-77 7 1977-78 TO 1979-80 7.5 1980-81 8 1981-82 TO 1982-83 8.5 1983-84 9 1984-85 9.5 1985-86 10 1986-87 TO 1998-99 12 01.04.1999 TO 14.01.2000 12 15.01.2000 TO 28.02.2001 11 01.03.2001 TO 28.02.2002 9.5 01.03.2002 TO 28.02.2003 9 01.03.2003 TO 30.11.2011 8 01.12.2011 TO 31.03.2012 8.6 01.04.2012 TO 31.03.2013 8.8 01.04.2013 TO 31.03.2016 8.7 01.04.2016 TO 30.09.2016 8.1 01.10.2016 TO 31.03.2017 8 01.04.2017 TO 30.06.2017 7.9 01.07.2017 TO 31.12.2017 7.8 01.01.2018 TO 30.09.2018 7.6 01.10.2018 TO 31.06.2019 8 01.07.2019 TO 31.03.2020 7.9 01.04.2020 TO 30.06.2025 7.1 Source: National Savings Institute
Qatar Tribune
2 days ago
- Business
- Qatar Tribune
NPC launches revamped Qatar Open Data Portal
Tribune News Network Doha In a move aimed at strengthening data governance and fostering institutional integration in the management of government information, the National Statistics Centre (NSC) at the National Planning Council (NPC) on Thursday organised a forum themed 'Toward Integrated National Data Governance: Achievements, Partnerships, and Sustainable Support'. The event serves as a strategic initiative by the Council to engage directly with planning, quality, and IT departments across ministries and government agencies, under the broader umbrella of the National Data and Statistics Strategy. Secretary-General of the National Planning Council His Excellency Dr Abdulaziz bin Nasser bin Mubarak Al Khalifa inaugurated the forum. In his speech, he said, 'The National Data Programme — a key component of the National Strategy for Data and Statistics — has achieved significant milestones in recent periods, in alignment with the objectives of the Third National Development Strategy. Among the most notable achievements is the issuance of the National Data Policy, approved by the National Planning Council. This policy has laid the foundation for principles of governance, integration, and shared responsibility in the management and governance of data.' He also announced the launch of the newly revamped Qatar Open Data Portal, saying: 'We are pleased to announce the launch of the Qatar Open Data Platform in its new form, now featuring more than 1,100 datasets covering a wide range of sectors. 'Open data has become a decisive factor in attracting foreign investment and facilitating informed economic decision-making, which directly contributes to achieving the targets of economic growth and diversification.' Through this regularly convened forum, the NSC seeks to share updates on the National Data Governance Programme and foster inter-agency cooperation mechanisms designed to activate effective data governance and management practices, and showcase projects related to national data governance platforms. In addition, the Centre is using the forum to respond to government entities' inquiries, clarify their roles and responsibilities in implementing the National Data Governance Programme, and highlight the technical and training support it offers to ensure that institutional efforts align with national data policies. The forum marks a continuation of the National Planning Council's broader efforts, following the launch of the National Data and Statistics Strategy last May, under the patronage of Prime Minister and Minister of Foreign Affairs His Excellency Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani, and chair of the National Planning Council. The strategy has since served as a springboard for a series of ambitious national initiatives aimed at modernising the country's data ecosystem. The forum placed particular focus on the progress made in developing tools under the National Data Governance Programme, particularly the Open Data Platform. A visual presentation showcased the platform's technical architecture and operational objectives, outlining how to advance transparency by making government data publicly accessible in line with international best practices. Such efforts are expected to foster innovation and build trust with the public. On the regulatory front, the NPC team delivered a detailed presentation on the national policies, standards, and regulations governing data. The presentation included an overview of compliance mechanisms and internal procedures for managing data within government agencies. This segment was led by Maha Rashid Al Mutawa, director of the National Data Affairs Department at the National Statistics Centre, who elaborated on the institutional and legislative frameworks underpinning these efforts. In the area of capacity building, Maha Abdullah Al Sherif, statistical researcher at the Statistical and Data Training Centre, announced the launch of a series of specialised training programmes and workshops. Designed to be delivered both in-person and online, these sessions will combine theoretical instruction with practical application. Scheduled throughout the year, the training aims to bolster the competencies of government departments in data management, analysis, and governance — boosting institutional readiness and enhance their optimal use of data in government work. The forum also explored the institutional partnerships critical to the success of the National Data Programme — chief among them is the strategic cooperation with the Ministry of Communications and Information Technology and the Cybersecurity Agency. These partnerships aim to ensure the readiness of digital infrastructure and the integration of national technical and regulatory frameworks. The forum highlighted effective technology partnerships with leading digital solution providers such as Microsoft and Informatica, both of which delivered advanced presentations on tools for governance, integration, and data quality. Microsoft showcased its intelligent data management ecosystem through Azure and Microsoft Fabric technologies, emphasising their role in supporting interoperability and real-time data analysis. Informatica, for its part, presented its advanced vision via the Intelligent Data Management Cloud (IDMC) platform — a solution designed to build a unified national data index and a transparent, referential data management system. Together, these technologies promise to enhance the quality and usability of government data in public policy development. The forum concluded with an open dialogue that brought together representatives of government agencies and technology solution providers. The discussion aimed to align technical needs with strategic objectives, while encouraging the exchange of experiences and best practices in building and operating national data platforms, including the National Data Index, the National Data Marketplace, and government database platforms.
India Today
2 days ago
- Business
- India Today
Are your savings at risk? Government may slash PPF, NSC rates next week
The government may lower interest rates on small savings schemes like the Public Provident Fund (PPF), National Savings Certificate (NSC), and others during its upcoming quarterly review on June 30, 2025, reported The Economic Times (ET).If rates are revised, the changes will come into effect from July 1 for the July–September quarter of far this year, interest rates for schemes such as Sukanya Samriddhi Yojana (SSY), Senior Citizens Savings Scheme (SCSS), and Post Office term deposits have remained unchanged. However, this may not continue in the next A RATE CUT IS BEING CONSIDEREDOne of the key reasons behind this expected change is the Reserve Bank of India's decision to cut the repo rate by a total of 1% so far in 2025. The central bank reduced the repo rate in February and April by 25 basis points each, followed by a larger 50 basis points cut in have already responded by lowering interest rates on fixed deposits. Some have even discontinued special FDs that offered higher returns for limited yields, which influence the interest rates of small savings, have also fallen. According to the 10-year government bond yield dropped from 6.779% on January 1 to 6.247% by June 24 — a decline of 0.532%. Lower bond yields are usually a sign that small savings rates may be THESE RATES ARE CALCULATEDInterest rates for small savings are set based on the Shyamala Gopinath Committee's recommendations. The formula uses the average yield of government securities in the secondary market and adds a 25-basis-point instance, the average 10-year G-sec yield between March 24 and June 24, 2025, is 6.325%. Adding 25 basis points brings it to 6.575%. Currently, PPF offers 7.10%, which is much higher than the formula suggests. This difference is why a cut is being considered, though the government may still choose to hold rates to ET, Rajani Tandale, Senior Vice President – Mutual Fund at 1 Finance, said the RBI's 50-basis-point cut in June, along with earlier reductions, brings the total repo rate cut in 2025 to 1%. She said this aligns with the central bank's aim to support growth by lowering borrowing costs.'As a result, interest rates for small savings schemes are likely to be lowered,' she said, while noting the final call will depend on the government's review and current market Shinghal, Founder and CEO of Scripbox, also told ET, 'SSS rates, while administratively set, are typically aligned with prevailing interest rate trends and yields on government securities.'He added that several banks have already reduced fixed deposit rates, and this shows broader rate transmission is happening. According to him, it is likely that PPF, SSY, and NSC interest rates could be cut by 25 to 50 basis Sarkar, Co-Founder of Wealth Redefine, shared a slightly different explained that while a 1% cut in repo rate points towards lower returns on small savings, the decision isn't automatic.'These schemes are lifelines for pensioners, retirees and middle-class households. A big cut could hurt them, especially when inflation is low and FD rates are already falling,' he told added that while a small cut of 0.1% to 0.3% is possible, a sharp drop seems unlikely. The government, he noted, may even choose to keep rates steady to protect INVESTORS SHOULD DO NOWThose planning to invest in small savings schemes should consider doing so before June 30. If they invest before the new rates take effect on July 1, their returns, especially for time-bound schemes like NSC, SCSS, and time deposits, will remain locked at the current rates until and SSY, however, are not fixed-rate investments. Their interest rates change over time and are calculated monthly. So, even if you invest now, future interest payments could be affected by a rate said 'Investors may consider locking into current Small Savings Scheme rates before the revision.' He also suggested that in a falling interest rate environment, long-term debt funds and target maturity bonds might become attractive alternatives for those looking to preserve real returns.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)- EndsMust Watch advertisement
