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Asia
The Hindu BusinessLine

West Bengal Budget Live: 1 lakh vacancies in govt jobs to be filled, ₹36,000 cr for Annapurna scheme; ₹14,000 cr for GRAMG scheme; 20% DA hike and more

West Bengal Finance Minister Swapan Dasgupta presents the state's first full budget for FY 2026-27 in the assembly, in Kolkata on Monday. | Photo Credit: ANI West Bengal Budget 2026 Live Updates: Stay updated with the latest announcements from the West Bengal Budget 2026, live updates on infrastructure spending, employment measures, agriculture support, industrial policy and fiscal targets. Finance Minister Swapan Dasgupta said his government has inherited a debt burden of Rs 8.15 lakh crore from the previous administration, asserting that restoring fiscal discipline and public confidence in governance would be among his priorities. “Building a corruption-free administrative structure is a cornerstone of our vision. We have to restore people’s trust in governance,” he said. Dasgupta said DA for state government employees and DR for pensioners would be raised by 20 percentage points from October 1, taking it to 38 per cent. The move narrows the gap between the DA received by state government employees and their central government counterparts by 22 percentage points, a politically significant announcement as government employees had long agitated over the issue under the previous regime. Before presenting the budget, Dasgupta and Chief Minister Suvendu Adhikari participated in a brief prayer ceremony in the assembly premises. “We have prepared this budget drawing inspiration from awakened national strength,” Dasgupta said. He announced that 1 lakh vacancies, including 20,000 posts in the police and 50,000 teaching and non-teaching positions in schools, would be filled in phases. He said 33 per cent of the jobs would be reserved for women, while 10 per cent reservation would be provided for Agniveers wherever applicable. “The upper age limit for government recruitment, already relaxed by five years, would continue for the next two years,” he added. “Our objective is to ensure that the benefits of government schemes reach the weakest sections of society. Necessary reforms will be undertaken wherever required,” he said.

West Bengal Budget Live: 1 lakh vacancies in govt jobs to be filled, ₹36,000 cr for Annapurna scheme; ₹14,000 cr for GRAMG scheme; 20% DA hike and more
Asia
The Hindu BusinessLine

Telangana CM Reddy asks Rajnath Singh to develop Adilabad airport

Telangana Chief Minister A Revanth Reddy has requested Defence Minister Rajnath Singh to develop the Adilabad Airport, which is being developed by the Indian Air Force (IAF), with comprehensive facilities. Reddy, who is on a tour in New Delhi, met with the Defence Minister on Monday. The state government would extend full cooperation for the expansion of the upcoming Adilabad Airport under the aegis of India Air Force considering the its significance to national integrity and defence, Reddy said. The CM also requested the Union Minister to support the large-scale establishment of cargo, MRO (Maintenance, Repair, and Overhaul) and hangar facilities alongside the Indian Air Force terminal and the Civil Aviation terminal intended for passenger convenience. Adilabad Airport would be suitable for hanger operations, the Chief Minister said and requested the Union Minister to set up a hanger. The Chief Minister also requested Rajnath Singh to expedite the approval of a key project - DRDO / DRDL at Devarakadra in Mahabubnagar district which has been selected for the establishment of the defence facility, according to a release. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Telangana CM Reddy asks Rajnath Singh to develop Adilabad airport
Asia-Pacific
The Straits Times

Work from home? For World Cup, even JPMorgan says yes

Cities including New York, Seattle, Los Angeles, Toronto and Mexico City have warned of severe gridlock as tens of thousands of fans crowd roadways and public transportation to attend matches. The World Cup is giving some office workers an unexpected perk: permission to stay home. Employers in host cities are encouraging staff to work remotely on match days to avoid expected traffic headaches and delays, pausing corporate America’s years-long push to get people back into the office. Wall Street bankers, publicists, government workers and school teachers are among the employees logging in from home across the continent. Even Jamie Dimon, one of the harshest and most vocal remote work critics, is giving JPMorgan Chase employees some flexibility on game days, the Financial Times reported. Federal agencies are offering leniency, too. Cities including New York, Seattle, Los Angeles, Toronto and Mexico City have warned of severe gridlock as tens of thousands of fans crowd roadways and public transportation to attend matches. No matter how much certain chief executives want remote work to die, it just will not. US workers are spending more than a quarter of paid workdays at home, according to a monthly survey by economists at ITAM Business School and Stanford University. The pandemic may not have ushered in a work from home revolution, but it set up workers and workplaces to better allow for it, as needed. “Avoiding Word Cup traffic is a perfect use case of remote work,” said Emma Harrington, an economist at the University of Virginia who studies remote work. “Sitting in gridlock isn’t a good use of anyone’s time.” S&P Global told employees at its New York headquarters to plan to work from home on the five business days when matches are scheduled at the nearby NYNJ Stadium in East Rutherford, New Jersey, according to a memo viewed by Bloomberg. The company is waiving its requirement for two in-office days per week “to help you avoid a difficult commute,” it said in an e-mail to staff. Wall Street firms including Goldman Sachs are also temporarily easing attendance policies, the FT reported. S&P Global declined to comment; Goldman Sachs and JPMorgan did not respond to e-mails seeking comment. The NYC Department of Transportation said it expects “severe traffic congestion” on match days. The city is closing several roads in Midtown Manhattan’s central business district to create dedicated corridors for shuttle buses to the stadium. Not all employers told workers to stay home. Amazon.com sent e-mails to employees advising them to leave home early enough on match days to arrive at the office on time, and highlighted transit options to avoid traffic congestion. Sports mega-events are well known for snarling commutes and disrupting workplaces. London implemented three weeks of remote work when it hosted the Olympics in 2012. But the World Cup’s impact is likely to be more limited because matches are spread across 16 cities, including Boston, Dallas, Houston, Miami and Vancouver, said Nicholas Bloom, an economist at Stanford who studies remote work and commutes. Plus, no city is hosting more than nine games.

Work from home? For World Cup, even JPMorgan says yes
Europe
BBC Business

Fake romance to missed deliveries: How to protect yourself from three common scams

A record four million cases of fraudsters stealing money were registered last year, according to UK Finance, a banking trade body - with plenty more going unreported. Sam Little, a 35-year-old former contestant of BBC show The Traitors, revealed last week he had lost £40,000 in life savings to a phishing scam. "I like to think I'm savvy, but it can catch anyone," he said. Here are three of the most popular tricks used by fraudsters and how to avoid them. Fraudsters send out mass messages suggesting that the recipient needs to update their details. It is just a way of harvesting vital banking details in order to steal money. In the case of the "Hi Mum" text, the message is usually followed by an urgent request to send money. Banks reported a surge in "Hi Dad" scams in the run-up to Father's Day. Messages about missed deliveries usually include a link which, when clicked on, take the recipient to an official-looking website. It is run by fraudsters and gathers banking information which is then used in so-called remote-purchase fraud - when criminals buy things from stolen card details. Some £423m was lost this way last year, according to UK Finance. Experts urge people to avoid tapping on links. If a message claims to be from, for example, Royal Mail, then type out the genuine Royal Mail website. Card details can be stolen in many different ways, such as through data breaches. But fraudsters often need a One-Time Passcode (OTP) to complete a theft. These should be treated as carefully as bank details and never given to someone who calls pretending to authorise a transaction. It may seem obvious, but fraudsters are skilled in keeping you on the phone for ages to trick you into giving the number. The scam: "I love you, can you send money so I can visit you." The victim joins a dating website, chats to someone with whom they build a relationship over time, until eventually there is a request for money. On average victims of romance scams, which are at a record high, send 10 payments to the fraudster. Some never accept their loved one isn't real.

Fake romance to missed deliveries: How to protect yourself from three common scams
Europe
BBC Business

'I couldn't sleep when I heard the last bank would close'

When 84-year-old Maggie Dodd discovered that the last remaining bank in her town was closing, she began to panic. "I mean I couldn't sleep that first night when I realised. I thought what am I going to do?" Now her nearest branch is in Oban, almost an hour's drive - 37.2 miles - away and she's worried about banking online. "There's so much of this scamming business, and I'm always worried that I'll hit something and press the wrong thing." That's why she has 'buddied up' with her 83-year-old friend Ina Callander to try banking at the local post office. "Maggie was really upset and I thought, why not help her? Because that's what friends are for." Lloyds Banking Group, which owns the Bank of Scotland, say the branch at Lochgilphead is no longer viable as most of their customers prefer to bank online. But BBC Your Voice was approached by residents in the town who are worried about the impact the closure will have on elderly and vulnerable people, as well as local businesses. Karen McCurry, who runs the wellbeing centre Snowdrop Argyll, set up the buddy scheme used by Maggie and Ina. She says: "I had people approaching me, telling me they weren't sleeping at night because the bank was going to close - and that's massive. "We always try to think of solutions and how to make things easier for somebody. "We can't change what's happening outside a lot of the time, but we can help somebody feel a bit better about it, a bit more confident."

'I couldn't sleep when I heard the last bank would close'
Asia
The Hindu BusinessLine

NTA dismisses video claiming paper leak as 'fake', says NEET re-exam successfully held

The National Testing Agency (NTA) on Sunday termed as fake a video being circulated on social media claiming that the NEET-UG 2026 paper was leaked. In a statement on X, the agency said the exam was conducted successfully under comprehensive security and surveillance. "NTA's attention has been drawn to a fabricated video being circulated on social media regarding NEET (UG) 2026. The video is fake and the claims it makes are false," the statement said. The agency said manufacturing and deliberately circulating such misinformation to defraud or alarm students was a "serious offence." "NTA, with the support of I4C and law-enforcement agencies, is taking action against those responsible for originating this content," the agency said. The NTA appealed to students, parents and the public to rely only on the official website and the agency's verified social media handles for information and not to amplify such material. More than 20 lakh medical aspirants took a second shot at the NEET re-exam on Sunday after the original test was cancelled due to paper leaks, an issue that became a hot potato for the government and triggered a popular protest movement. Abhishek Singh, the Director General of the National Testing Agency (NTA), which has been receiving flak following the paper leak, said a "whole-of-government" approach helped it to conduct the mammoth exercise in record time. In a statement, NTA said more than 20 lakh candidates appeared for the NEET (UG) 2026 re-examination across 5,440 centres in India and 14 centres abroad. The exam was conducted in 13 languages, including Hindi and English. "This was not the NTA acting alone. It was Team Bharat - a chain of people across the country who showed up so that, for each candidate, the only thing that mattered that morning was the paper in front of them," the agency said. "In all, around 7 lakh officials - police teams, observers and examination staff - were mobilised across India to conduct this examination, and it was done in a record 37 days. NTA is especially grateful to the experts from academic institutions across the country who gave their personal time to help prepare multiple sets of question papers," the NTA said. Union Education Minister Dharmendra Pradhan reviewed arrangements for the smooth conduct of the re-examination at the NTA headquarters in Delhi's Okhla. "NTA apprised the minister of the logistical and technical arrangements put in place for the efficient and transparent conduct of the examination," the Ministry of Education said.

NTA dismisses video claiming paper leak as 'fake', says NEET re-exam successfully held
Asia
The Hindu BusinessLine

RBI overhauls Lead Bank Scheme after review, issues new guidelines

The Reserve Bank of India (RBI) has issued revised guidelines for the Lead Bank Scheme (LBS), aimed at strengthening district-level credit planning, improving coordination among stakeholders and deepening financial inclusion across the country. The central bank said it had undertaken a "comprehensive review" of the scheme and issued revised guidelines after examining public feedback received on the draft framework released earlier this year. "The revised Circular on the Lead Bank Scheme (LBS) has been issued today," RBI said in a release issued on June 19. The central bank added that "feedback received on the draft circular has been examined and necessary modifications have been suitably incorporated in the final guidelines." According to the revised circular, the Lead Bank Scheme aims at coordinating the activities of banks, governments and development agencies to boost credit flow and expand access to financial services. The RBI said the scheme seeks to achieve two key objectives: "enhancing flow of credit to priority sectors for achieving inclusive growth" and "deepening financial inclusion through improved access and usage of financial services. "The revised framework gives a clearer structure to the scheme and defines the responsibilities of Lead Banks, Lead District Managers (LDMs), State Level Bankers' Committees (SLBCs) and other stakeholders. The RBI said a Lead Bank in every district will coordinate efforts of banks, government agencies and other institutions "to improve credit flow to the priority sectors and promote financial inclusion in the district. "Under the new guidelines, every Lead Bank will appoint a Lead District Manager to "exclusively oversee and coordinate the implementation" of the scheme in the district. The RBI has also introduced a three-tier structure comprising Block Level Bankers' Committees, District Consultative Committees and State Level Bankers' Committees to strengthen coordination between banks and government agencies. The central bank said district-level committees will prepare and review District Credit Plans and help resolve operational issues related to implementation. The revised guidelines supersede earlier instructions issued by the RBI on the scheme. "A comprehensive review of the LBS has been undertaken and the revised guidelines on the subject are enclosed. These supersede all earlier instructions issued by the Reserve Bank on the subject," the RBI said in the circular. The Lead Bank Scheme was introduced by the RBI in December 1969 to facilitate coordination among banks and development agencies and promote the flow of credit to priority sectors and rural areas.

RBI overhauls Lead Bank Scheme after review, issues new guidelines
Europe
BBC Business

Five ways the Iran peace deal could affect you and your money

The outbreak of the US-Israel war with Iran in February caused shock waves across the global economy. The region plays a key role in global oil and gas supplies, and the closure of the key Strait of Hormuz shipping corridor, has driven up prices on a wide range of things from energy bills to air fares. On 18 June, Iran and the US signed a deal aimed at bringing an end to the war, with the Strait set to reopen. But negotiations on some of the thorniest issues - including Iran's nuclear programme - will be deferred for 60 days, raising questions about how long this agreement will last. The war caused an immediate rise in motor fuel prices, as production and transport of oil in the Middle East slowed or stopped entirely. Prices at the pump have started to drift lower in recent weeks on rising hopes for a peace deal. As of Thursday in the UK, petrol cost an average of 154.72p per litre, while diesel was an average 174.30p per litre, according to RAC Fuel Watch data. In the US, the latest data shows that average gasoline prices stood at $4.05 (£3.05) per gallon, up from $2.94 per gallon before the war started, while diesel had risen from $3.81 to $5.06 over the same period. Simon Williams, head of policy at the RAC, said the recent fall in global oil and wholesale petrol prices "if sustained - will "in time lead to much lower prices at the pumps". But he said: "The big question is how fast will this happen, and whether the fall in pump prices happens as swiftly as the rise drivers had to endure through March and April did." UK gas prices almost doubled at the beginning of the conflict, sparking fears of higher energy bills across the country. Gas is used directly in millions of homes for heating and hot water; it was also used to generate about 27% of our electricity last year. The benchmark UK gas price was below 80p a therm before the Iran war began but was trading at around 157p by 19 March. Now it's back down at 98p per therm.

Five ways the Iran peace deal could affect you and your money
North America
CNBC Economy

Bank of England holds interest rates at 3.75% amid Iran war peace prospects

The Bank of England held U.K. interest rates at 3.75% on Thursday, as policymakers continue to balance the need to address above-target inflation with lackluster economic output. The hold, which was in-line with the expectations of economists polled by Reuters, was backed by seven of the nine monetary policy committee members in the BOE's May meeting. BoE chief economist Huw Pill and Megan Greene, an external member of the rates-setting Monetary Policy Committee, were the two dissenting voices. Pill and Greene both cast votes to hike the BOE's "base rate" by 25 basis points to 4%. The decision comes as higher energy costs in the wake of the Iran war have pushed inflation higher in economies across the globe, and the U.K. — a net energy importer — is particularly vulnerable to price shocks. In a summary of its decision on Thursday, the BoE said that while prices have come down since the initial spike, the war "makes it hard to predict what is going to happen with them." The U.K.'s own inflation rate held at a cooler-than-expected 2.8% in May, with price rises driven by rising transportation fuel costs, while data published last week showed the economy shrank by 0.1% in April. Inflation cooled to 2.8% in April, but the drop — attributed to a change to the U.K.'s regulated energy price cap — was expected to be short-lived. The price cap is due to rise by 13% later this summer, when energy costs will hit a 2-year high. Despite easing, the bank now expects inflation to tick higher again as energy prices carry knock-on effects to the broader economy. "The impact on the economy and inflation will depend on how long energy prices stay raised," it said. "Monetary policy cannot affect global energy prices; our job is to make sure that higher inflation does not persist and have long-lasting effects on the economy. We are monitoring the situation very closely," it added. Despite Washington and Tehran reaching a breakthrough in peace negotiations, markets are still betting that the Bank of England will raise rates by the end of the year, according to LSEG figures. At its April meeting, the Bank of England's Monetary Policy Committee voted to keep its key interest rate at 3.75%. Ahead of the meeting, LSEG data showed traders were pricing in a 96% chance of the central bank keeping its key rate unchanged.

Bank of England holds interest rates at 3.75% amid Iran war peace prospects