Latest news with #PSB
News18
3 days ago
- Business
- News18
FM Nirmala Sitharaman Meets Heads of PSU Banks To Review Financial Performance, Other Issues
Last Updated: Finance Minister Nirmala Sitharaman reviewes PSBs' financial performance. It marks first formal interaction between FM and PSB executives after RBI recent monetary easing steps. Union Finance Minister Nirmala Sitharaman on Friday chaired a crucial meeting with the heads of public sector banks (PSBs) in New Delhi to review their financial performance and assess the progress of various government-backed schemes. This meeting marks the first formal interaction between the Finance Minister and PSB executives following the Reserve Bank of India's (RBI) recent monetary easing steps. Earlier this month, the RBI's Monetary Policy Committee, led by Governor Sanjay Malhotra, announced a surprise 50 basis points cut in the repo rate to 5.5%, along with a 100 basis points reduction in the Cash Reserve Ratio (CRR) to 3%, aimed at infusing Rs 2.5 lakh crore of additional liquidity into the banking system. According to the Finance Ministry's post on X (formerly Twitter), the meeting was attended by Minister of State for Finance Bhagwat Karad, Department of Financial Services (DFS) Secretary M. Nagaraju, and the MDs and CEOs of all 12 public sector banks, along with other senior officials. It is to be noted that Public Sector Banks' (PSBs) cumulative profit rose to a record level of Rs 1.78 lakh crore in the fiscal year ended March 2025, registering a growth of 26 per cent over the previous year. All 12 public sector banks had earned a total profit of Rs 1.41 lakh crore in FY'24. The year-on-year increase in profit in absolute terms was about Rs 37,100 crore in FY25. Out of the total profit of Rs 1,78,364 crore earned during FY'25, market leader State Bank of India (SBI) alone contributed over 40 per cent of the total earnings, as per the published numbers on stock exchanges. SBI logged a net profit of Rs 70,901 crore in FY25, 16 per cent higher than the previous fiscal (Rs 61,077 crore). In percentage terms, Delhi-based Punjab National Bank reported the highest net profit growth of 102 per cent to Rs 16,630 crore, followed by Punjab & Sind Bank with a 71 per cent rise to Rs 1,016 crore. During the year, all 12 public sector banks (PSBs) reported a rise in profit. On Thursday, Sitharaman also visited the International Financial Services Centre (IFSC) at GIFT City in Gujarat's Gandhinagar and reviewed the progress of GIFT International Finance Services Centre. First Published: June 27, 2025, 13:33 IST
Express Tribune
3 days ago
- Sport
- Express Tribune
36 sportspersons receive cash awards from PSB
RECOGNITION AT LAST: Prolific Special Olympics athlete Haider Ali receives Rs 5 million award from Advisor to PM on Inter-Provincial Coordination, Rana Sanaullah Khan. Federal Secretary Mohiuddin Wani and Director General PSB Muhammad Yasir Pirzada are also seen on the occasion. PHOTO: PSB In a prestigious ceremony held late on Wednesday, the Pakistan Sports Board (PSB) paid tribute to a number of national heroes who did the country proud through their outstanding performances in international competitions and events. Advisor to the Prime Minister on Inter-Provincial Coordination, Rana Sanaullah Khan, graced the event along with Federal Secretary Mohiuddin Wani and Director General PSB Muhammad Yasir Pirzada. A total of Rs. 8.2 million in cash awards was distributed among 36 athletes who excelled in various global events. Among the recipients, Haider Ali, the Paralympic champion, stood out with a PKR 5 million cash award in recognition of his bronze medal win at the 2024 Paralympic Games in Paris. Javelin thrower Arshad Nadeem received Rs. 2 million for winning the gold medal at the Asian Championship, while his coach Salman Iqbal Butt received Rs. 600,000. In snooker, Muhammad Asif was awarded Rs. 500,000 for winning a gold medal at the SAARC Snooker Championship, Ahsan Ramzan was awarded Rs. 500,000 for securing a bronze medal in the U-21 Asian Championship, and Muhammad Naseem Akhtar received Rs. 100,000 for his bronze medal in the same event. In table tennis, Abdal Muhammad Khan received Rs. 250,000 for his silver medal in the U-15 singles category while he and Zunaira Khan received Rs. 187,500 each for their silver medal in the U-15 mixed doubles event. For the U-15 boys' doubles and U-15/U-19 team events, Abdal and his teammates - Noor Khan, Taha Bilal, Abu Huraira, Attaul Manan, and Moosa Asif - were awarded Rs. 75,000 each. Special Olympics athletes were also honored for their performances in the World Winter Games. Abdul Saboor Ahmad received Rs. 250,000 for a gold medal in the 400m Snowshoeing event and Rs. 100,000 for a bronze in the 200m event. Muhammad Afaq Khan and Muhammad Moazzam Iqbal were awarded Rs. 250,000 each for gold in their respective events, while Muneeb ur Rehman was honored with Rs. 250,000 for each of his gold medals in 50m and 100m Cross Country Skiing. Relay team members - Abdul Saboor, Afaq, Moazzam, and Ali Raza - were each given Rs. 150,000, as were Minahil, Raveena Qurban, Iqra Akram, Shah Galoon Hayat, and Tabassum for their team contributions. As part of the federation grants phase, the PSB awarded Rs. 63.9 million to 22 national sports federations under annual and special grant categories. The Athletics Federation of Pakistan received Rs. 10 million, Alpine Club of Pakistan was given Rs. 2.1 million, and Pakistan Badminton Federation was awarded Rs. 1.1 million. The Pakistan Bodybuilding Federation received Rs. 2.5 million, and the Pakistan Handball Federation was provided a special grant of Rs. 5 million. Further allocations included Rs. 1 million to Pakistan Judo Federation, Rs. 2 million to Pakistan Ju-Jitsu Federation, and Rs. 3 million to Pakistan Karate Federation. The Pakistan Kabaddi Federation received Rs. 3 million, and the National Rifle Association was allocated Rs. 7 million (including Rs. 2 million as annual and Rs. 5 million as special grant). Pakistan Rugby Union was given Rs. 1.1 million, Winter Sports Federation Pakistan received Rs. 2 million, and the Pakistan Sailing Federation received Rs. 1 million. Pakistan Squash Federation was allocated Rs. 5 million, Pakistan Swimming Federation and Pakistan Table Tennis Federation were each granted Rs. 2.25 million, Pakistan Taekwondo Federation received Rs. 1.1 million, and Pakistan Tennis Federation got Rs. 1 million. The Pakistan Tenpin Bowling Federation received Rs. 2.5 million, while the Pakistan Volleyball Federation and Pakistan Wrestling Federation were awarded Rs. 5 million and Rs. 3 million, respectively. The Pakistan Wushu Federation received Rs. 1 million. In total, the Pakistan Sports Board disbursed Rs. 32.9 million in annual grants and Rs. 31 million in special grants, reflecting the government's commitment to supporting national sports, rewarding athletes, and strengthening the country's sports infrastructure through consistent financial assistance.
Express Tribune
3 days ago
- Business
- Express Tribune
Pak presence in FIH League in limbo
Pakistan hockey team's participation in the high-profile FIH Pro League hangs in the balance due to uncertainty of funding. PHOTO: AFP Pakistan's participation in the upcoming FIH Pro Hockey League hangs in the balance as the Pakistan Sports Board (PSB) has yet to provide a clear commitment on funding to the Pakistan Hockey Federation (PHF). A crucial meeting between PSB Director General Yasir Pirzada and PHF Secretary General Olympian Rana Mujahid ended without a breakthrough. Speaking to the media, Rana Mujahid said that the costs of participating in the Pro League are significantly high and appealed to Prime Minister Shahbaz Sharif and Army Chief General Asim Munir for urgent assistance. He noted that while India receives an annual grant of 3 billion rupees for hockey, Pakistan's funding situation remains dismal. "The expenses of the Pro League are enormous. We hope the Prime Minister will come to our aid. We have also appealed to Field Marshal Asim Munir," Mujahid stated. He added that Pakistan's performance in the FIH Nations Hockey Cup was satisfactory, and that the federation is committed to following government and PSB guidelines. He also confirmed that senior team head coach Tahir Zaman will soon present his training and competition plan. Mujahid warned that if Pakistan commits to the Pro League but fails to participate, it could face sanctions from the International Hockey Federation (FIH). "We have reached out to the FIH President and requested more time to resolve the situation," he said. Meanwhile, DG PSB Yasir Pirzada said that approximately USD 2.5 million is needed for Pakistan's participation in the Pro League. "We have asked PHF to submit a working paper. The financial requirement is substantialthis is not cricket, where funds flow easily. We will present the matter to the government and the Prime Minister," Pirzada explained. He also mentioned that the usage charges of Naseer Bunda Hockey Stadium were increased to meet maintenance costs but promised to review club-level fees. "Hockey is our national sport and should be given priority," he affirmed. The fate of Pakistan's appearance in the prestigious international league now rests on swift government intervention and timely financial support. Yasir Pirzada unveils roadmap for sports development Director General of the Pakistan Sports Board (PSB), Yasir Pirzada, has unveiled an ambitious roadmap focused on infrastructure development, athlete training, and long-term sports promotionunderscoring Pakistan's determination to reclaim its sporting stature on the regional stage. With Pakistan set to host the South Asian Games in January 2026, the PSB has entered a decisive phase in its efforts to uplift sports nationwide. Speaking to a delegation of the Rawalpindi Islamabad Sports Journalists Association (RISJA), led by President Abubakar Bin Tallat, DG Yasir Pirzada provided a detailed overview of preparations for the upcoming regional event. "Hosting the South Asian Games is a matter of national pride, and we are taking all possible measures to meet international standards in infrastructure, training, and athlete welfare," Pirzada stated. He highlighted the ongoing renovation and development work at the Pakistan Sports Complex, where significant upgrades are underway to transform the facility into a state-of-the-art venue capable of hosting international events. Pirzada emphasized that under the visionary leadership of Prime Minister Shahbaz Sharif, Federal Minister for Inter-Provincial Coordination Rana Sanaullah, and Federal Secretary IPC Mohyuddin Wani, the government is strongly committed to reviving and promoting sports across the country. He added that special attention is being given to national training camps, which now include advanced coaching, nutritional planning, and psychological support to help athletes compete at the highest level. Beyond the Games, DG PSB also outlined broader sports development initiatives, including grassroots talent identification programs, school and college competitions, and public-private partnerships aimed at strengthening the foundation of sports in Pakistan. The session concluded with an open exchange of suggestions from journalists, reinforcing the PSB's commitment to media collaboration and the long-term growth of sports in the country. The RISJA delegation included Abdul Mohi Shah, Shakeel Awan, Zulfiqar Baig, Nasir Naqvi, Shakir Abbasi, Afzal Javed, Shahryar Khan, Arfa Feroze Zaki, Awais Abbasi, and Kiran Khan.
The Sun
4 days ago
- Business
- The Sun
Urban Renewal Act drafted after record 101 engagement sessions
JOHOR BAHRU: A total of 101 engagement sessions have been held to date in the drafting of the Urban Renewal Act (PSB), making it one of the most comprehensive legislative processes, with the highest number of stakeholder engagements in the nation's history, said Housing and Local Government (KPKT) Minister Nga Kor Ming. He said the sessions involved various stakeholders, including property developers, homebuyers' associations, community activists, academics, Members of Parliament and political parties. 'No ministry has ever conducted 101 engagement sessions. We uphold the principle of leaving no one behind. We involve all parties because we do not want our cities to turn into slums. 'This Act is a step forward in revitalising old and dilapidated urban areas to become more sustainable and modern,' he said at a press conference after the 2025 National Landscape Day celebration here today. Nga said the implementation of the new law, expected to be tabled in the upcoming parliamentary session, will act as a catalyst and reinforce the agenda for planned, systematic and comprehensive urban redevelopment. Currently, urban renewal initiatives under the Urban Renewal Act are governed by the Strata Titles Act 1985, which requires unanimous consent from all property owners under Section 57 before the management body can act as trustee to carry out redevelopment projects. Under the proposed new legislation, KPKT has recommended a tiered consent threshold based on the condition and age of the building: 75 percent for buildings over 30 years old, 80 percent for those under 30 years, and 51 percent for buildings classified as dilapidated or unsafe for occupancy.
Business Recorder
4 days ago
- Sport
- Business Recorder
PSB disburses Rs8.2m in cash awards to athletes, Rs63.9m in grants to sports federations
The Pakistan Sports Board (PSB) on Wednesday distributed Rs8.2 million in cash awards to 36 national athletes and disbursed Rs63.9 million in grants to 22 sports federations, in a major move to promote sports development across the country. The ceremony was held in Islamabad to honour national athletes who have earned international recognition through their recent performances. Advisor to the Prime Minister on Inter-Provincial Coordination, Rana Sanaullah Khan, was the chief guest at the event, accompanied by Federal Secretary Mohiuddin Wani and PSB Director General Muhammad Yasir Pirzada. PSB takes action against unauthorised bodybuilding federation Javelin thrower Arshad Nadeem received the highest individual award of Rs2 million for winning a gold medal, while his coach Salman Iqbal Butt was awarded Rs600,000. In snooker, Ahsan Ramzan and Muhammad Asif were awarded Rs500,000 each for their bronze and gold medal achievements, respectively. Muhammad Naseem Akhtar received Rs100,000 for securing a bronze. In table tennis, Abdal Muhammad Khan earned Rs250,000 for a silver medal in the U-15 singles, while he and Zunaira Khan received Rs187,500 each for a silver medal in mixed doubles. Team event players Abdal, Noor Khan, Taha Bilal, Abu Huraira, Attaul Manan, and Moosa Asif received Rs75,000 each. Special Olympics athletes were also recognised for their performance at the World Winter Games. PSB welcomes FIFA school football program invitation Abdul Saboor Ahmad was awarded Rs250,000 for a gold and Rs100,000 for a bronze. Muhammad Afaq Khan, Muhammad Moazzam Iqbal, and Muneeb ur Rehman each received Rs250,000 for their gold medals, while relay team members were given Rs150,000 each. In addition to the cash awards, the PSB distributed Rs63.9 million in financial grants to 22 national sports federations under annual and special categories. These included: Athletics Federation of Pakistan: Rs10 million National Rifle Association: Rs7 million Pakistan Handball Federation: Rs5 million Pakistan Squash Federation: Rs5 million Pakistan Volleyball Federation: Rs5 million Pakistan Wrestling Federation: Rs3 million Pakistan Karate Federation: Rs3 million Pakistan Ju-Jitsu Federation: Rs2 million Winter Sports Federation Pakistan: Rs2 million Pakistan Swimming Federation: Rs2.25 million Pakistan Table Tennis Federation: Rs2.25 million Pakistan Bodybuilding Federation: Rs2.5 million Pakistan Tenpin Bowling Federation: Rs2.5 million Pakistan Judo Federation: Rs1 million Pakistan Sailing Federation: Rs1 million Pakistan Wushu Federation: Rs1 million Pakistan Rugby Union: Rs1.1 million Pakistan Badminton Federation: Rs1.1 million Pakistan Taekwondo Federation: Rs1.1 million Pakistan Tennis Federation: Rs1 million Alpine Club of Pakistan: Rs2.1 million Pakistan Kabaddi Federation: Rs3 million Of the total disbursement, Rs32.9 million were allocated as annual grants, while Rs31 million were provided under the special grant category. The PSB said the financial support reflects the government's continued commitment to strengthening the country's sports infrastructure and incentivising high-performing athletes across disciplines.
