Canada Global Tv

Tag: State Bank

  • How Much Will The Inflation Rate Be In 2024?

    How Much Will The Inflation Rate Be In 2024?

    Canada Global(Web News) Governor State Bank presented the economic review report of the financial year 2022-23 under the same BP Act 1956 in the Parliament. The report states that the financial year 2023 is unusual due to external and domestic economic setbacks. It was tough.

    The delay in the ninth review of the IMF’s expansionary fund program added pressure on the external accounts, inflation reached 29.2% in FY23, political uncertainty affected businesses and economic activity, monetary policy I developed contractions. The policy rate increased by a total of 825 basis points.

    Total assets of the banking sector grew by 17% in FY23. The governor has said in his report that fiscal policy and effective administrative measures must be taken for prices and financial stability. The report emphasized on reducing government expenditure, increasing productivity, and strengthening the supply chain of food and energy.

    The central bank will continue to take decisions to contain the deep effects of high inflation and contain inflationary expectations. The medium-term target of reducing inflation to 5-7% by the end of FY25 should be achieved. Ga. Inflation is expected to moderate at 20-22% in FY24.

  • How To Recognize 5000 Note Is Real Or Fake? State Bank Released The Video

    How To Recognize 5000 Note Is Real Or Fake? State Bank Released The Video

      Canada Global(Web News) State Bank of Pakistan has released a video to identify the original currency note of 5 thousand rupees.

    In the video released by the State Bank, the signs in the Rs 5,000 note have been mentioned through which citizens can distinguish between genuine and fake notes.

    It should be noted that yesterday in the meeting of Senate Standing Committee on Finance, the issue of fake currency note of 5 thousand rupees was brought up.
    In the meeting, committee member Kamil Ali Agha presented fake currency notes of 5 thousand rupees. Senator Kamal Ali Agha showed the fake note to the Deputy Governor State Bank but he could not recognize it and said that the quality of the fake note is good.
    Salim Mandviwala demanded action from the State Bank to prevent fake notes and said that the issue of fake notes has been going on for many years and the central bank has no solution, fake notes are coming from the banks. Deputy Governor State Bank Dr. Inayat Hussain said that fake currency is not Pakistan’s problem but the whole world’s problem, dollar fake currency is also being hidden, there is no such system to prevent fake currency from being hidden. Assuring to control the issue of currency notes, the regulations will be further improved, the committee will be briefed soon.

  • In The Current Financial Year, The Government Borrowed 7 Times More From Banks

    In The Current Financial Year, The Government Borrowed 7 Times More From Banks

    Canada Global (Web News) With reference to the data released by the State Bank of Pakistan, it has been said that the government borrowed 35 trillion 85 billion rupees during the period from July 1 to December 8, in the entire fiscal year 2023. A total of 37 trillion rupees loans were taken.

    Banks are investing more cash risk-free, as the government continues to borrow heavily despite rising revenues. In the last auction on December 13, the government received Rs 46 trillion from banks and other corporate investors. 26 trillion. The government is reportedly cutting the Public Sector Development Program (PSDP) to cut costs. Despite record borrowing, the government plans to cut development spending.

    which is an important factor for the growth of the economy. In November, the Federal Board of Revenue said that it has collected more than the target of Rs 26.80 billion and Rs 537 billion respectively for five months and November. 29 percent inflation. Due to the increase in the price of everything, the government expenditure has also increased. An analyst said that due to high inflation, the government is also facing difficulties as its expenditure has also increased.

  • Green And Blue Notes Of 75 Rupees, Which Is Original And Which Is Fake?

    Green And Blue Notes Of 75 Rupees, Which Is Original And Which Is Fake?

    Canada Global(Web News)State Bank of Pakistan says that both green and blue notes of 75 rupees can be used for transactions in Pakistan.

    On the occasion of the 75th Independence Day of Pakistan, State Bank of Pakistan issued a commemorative note of 75 rupees which was green in color.

    Later, on the 75th anniversary of the State Bank of Pakistan, the Government of Pakistan issued a commemorative note of Rs 75 which was blue in color and had a different design from the notes issued earlier.

    A clarification from the State Bank on social media said that both green and blue notes of Rs 75 are legal and can be used for transactions across Pakistan.

  • Violation Of Rules And Regulations, Licenses Of 5 Exchange Companies Suspended

    Violation Of Rules And Regulations, Licenses Of 5 Exchange Companies Suspended

    Canada Global(Web News) State Bank of Pakistan has suspended the licenses of 5 exchange companies for violation of rules and regulations.

    Also read this

    State Bank announced new monetary policy, interest rate kept at 22%

    According to the statement of the State Bank, International Exchange Company, Worldwide Exchange Company, World Exchange Company, Universal Exchange Company and United Exchange Company were found guilty of serious violation of the instructions and regulations of the State Bank. According to the central bank, all the five B category exchange companies. The headquarters and subsidiary offices were stopped from business activities.

    read more

    State Bank allowed money changers to call for dollar cash from abroad

     

    source link