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[ad_1] Blaming Centre’s policies for rising cultivation costs of farmers, Telangana Chief Minister K Chandrasekhar Rao on Wednesday said Prime Minister Narendra Modi-led government is “defaulting” on its promise of doubling farmers’ income by 2022. In February 2015, the Union government had announced it will double farmers income in six years by 2022. “Despite passage of over five years, no specific or structured programmes have been initiated towards this direction,” the chief minister said in a letter to Modi. Contrary to the Centre’s policy of doubling farmers’ income, input costs have doubled in the last five years and the income of farming community has declined, causing distress to farmers, he said. “… by raising the fertiliser prices, increasing fuel prices and faulty fixation of MSP (Minimum Support Price), the Government of India (GoI) is not only contributing to increase in the cost of cultivation to the farmers but also defaulting on the promise of doubling of farmers’ income,” he said. Further, he pointed out that these policies coupled with threat of proposed reforms in the agriculture electricity distribution sector by fixing power consumption meters are causing great deal of “anxiety” to the farmers, he added. Seeking prime minister’s intervention in containing price rise in fertilisers, Rao said the retail prices of most consumed non-urea fertilisers — Muriate of Potash (MoP) and Gromor (28.28.0 variant) — have increased more than 50 per cent and 100 per cent, respectively, in the last 90 days itself. The central government instead of bearing the increasing import costs of raw materials and maintaining the prices of fertilisers at an affordable level to the farmers, has chosen to pass on the burden to the farmers, he said. “… I request GoI to ensure that cost of fertilisers are maintained at the present level and additional cost if any to be absorbed by the GoI so that farmers are not burdened,” Rao said. He also alleged that the GoI has turned a “blind eye” to the increasing prices of fertilisers in the last six years while encouraging states to take up campaigns to reduce urea and DAP (Di Ammonium Phosphate) consumption. Stating that farmers are bearing the brunt of the faulty policies of the central government on fertilisers and fuel, Rao said fuel consumption in agri-sector has increased manifold due to promotion of farm mechanisation. The “indiscriminate” imposition of cess on petrol and diesel despite no increase in import price of crude oil has added distress to the farmers. Refuting the Centre’s claim of fixing MSP at 150 per cent of the cost of production of agriculture crops as “misleading”, Rao said the central government has “no reliable mechanism” of ensuring price guarantee to the farmers for their crops apart from announcing MSP and procuring small quantities of farm produce. [ad_2] Source link

[ad_1] The mortgage industry is coming out of back-to-back amazing years, and while 2022 still holds great opportunity for the industry, it also signals a pivot point for market participants. In recognition of the transitions ahead, Pennymac is making changes to ensure that 2022 forms the foundation for long-term value for its wholesale partners. Specifically, Pennymac is changing the name of its wholesale division from PennyMac Broker Direct to Pennymac TPO. To learn more about the intention behind the rebrand and Pennymac TPO’s plans for the future, HousingWire sat down with Senior Managing Director Kim Nichols to learn more. HousingWire: Let’s dig into the name change. Why now, and why Pennymac TPO? Kim Nichols: Pennymac has enjoyed a long track record of success. Through the years, we’ve grown into one of the most prominent and highly respected players in the mortgage space, and we want to use our success as a platform for our wholesale partners’ growth. This is much more than a name change for the company. It’s a stake in the ground for our broker and non-delegated partners. We’re deepening our commitment in this channel to help them on their own journeys of greatness. As Pennymac TPO, we will extend our foundation of greatness to our partners, giving them the resources they need to grow, however, they want to grow.  HW: What resources can brokers and non-delegated lenders expect to see from Pennymac TPO in 2022? KN: We’re making a major investment in our technology with POWER+. We’ve worked closely with our partners to understand what they need and have designed technology enhancements that will roll out in phases during 2022. These new features will drive greater speed, efficiency and transparency into the loan process, ultimately creating a better experience for our broker partners and their clients.  We are first pushing these enhancements into the broker segment with a later phase driving additional services and capabilities into the non-delegated correspondent segment. HW: What more can you tell us about POWER+? KN: We developed POWER+ by truly listening to the voice of our clients.  We took two approaches. First, we had focus sessions with key partners and extracted detailed feedback from various users, including LO’s, processors and broker owners.  In addition, we meticulously logged client feedback regarding challenges in the loan process.  We also wanted to understand what aspects of our current technology and process our partners love. One thing that truly resonated for us is how much our partners value our people. Having access to engaged, knowledgeable team members during any step of the process was a big differentiator. The culmination of all of this is our new POWER+ technology.  It’s not simply technology that powers our partnerships. It’s also People… people who communicate, people who care and are knowledgeable.  People are the +! We boiled their needs down to three main focus areas: speed, efficiency and communication. HW: Let’s zoom out. From a bird’s-eye view, what do you hope these changes help your partners accomplish? KN:  It’s our job to make our partners look great in the eyes of their customers and referral partners.  Let’s talk about purchase transactions. The emotions and anxiety in the homebuying process are amplified in a market where housing supply is very tight. If a buyer fails on a contingency, there are multiple backup offers sitting there behind them and it might be several months before they can get into contract on that next home. If we zoom out, we have to think about how we can enhance the experience since that is a reflection on our partners. What helps this process? It’s speed, efficiency and communication every step of the way.  Our tech, workflow and people all have to be focused on those things. HW: Can you discuss Pennymac’s commitment to servicing? KN: Where the borrower is serviced matters. Quality of loan servicing is a direct reflection on the broker or lender who originated that loan.  We’ve had brokers and non-delegated partners sign up with Pennymac for this very reason.. They know that we will maintain the same great service after closing that our partners delivered on the way to the closing table. We retain servicing on all our loans. We are one of the few top wholesale lenders making a permanent capital investment in our servicing and now service over $500 billion. Our partners appreciate the fact that we retain our servicing. It gives them peace of mind knowing that Pennymac will care for their clients after closing and that borrowers will not be subjected to the possibility of servicing transfers and the administrative burden associated with that experience –  Resetting passwords, auto pay, escrow reconciliation and general familiarity with a servicer’s portal, etc. Plus, for Pennymac-to-Pennymac refinances or purchases, we have the ability to net escrows for their customers, significantly reducing cash to close in many cases. It’s about being great on every loan, for every customer, every day in every part of the process up through closing and beyond. We know what solid and sustainable growth looks like, feels like, and how to extend it to our partners. Whichever way our partners want to grow, we want to help them chart the course, and give them the resources to make it happen. Our partners have made us who we are. Now, we want to return the favor. We can’t wait to join them on their personal journeys of greatness. The post What Pennymac TPO’s rebrand means for the wholesale channel appeared first on HousingWire. [ad_2] Source link

[ad_1] The post Should I Pay Down Debt or Invest? appeared first on Millennial Money. The dilemma of whether to pay off debt or invest your money is a burning question finance experts get all the time.   The answer? It depends. I know, that’s less than satisfying.  But there are many factors to consider, such as: How much debt do you have? What are the debt interest rates? Are you talking about investing in the stock market just for kicks? Do you have any retirement money set aside at all?  Is one of the investments in question an employer-matched 401(k)?  And the list goes on. This isn’t very helpful on the surface. So let’s cover some details that will help you make an informed decision about whether you should pay down debt or invest first.  Or should you be doing both?  What Is the Rule of Thumb About Paying Debt vs. Investing? When deciding whether to pay debt or invest, most finance experts suggest weighing the debt you have against what you could make by investing.  This pits the interest rate of your debt against the money you’d potentially make in the stock market or other type of investment — also known as your rate of return.  This brings us to the question…  What Is Your Rate of Interest vs. Rate of Return? Your rate of interest is the fee you pay a lender for borrowing money from it.  If you look at a debt statement such as a car loan or credit card bill, you’ll find the interest rate the lender’s charging — and you may need a magnifying glass. It’s usually in the tiniest font your lender can get away with.  A rate of return is the amount of money you earn or lose from an investment over a certain time period (usually a year).  Here are some facts to consider when comparing your rate of interest vs. rate of return: Generally, any debt with an interest rate higher than around 6% can be considered high-interest debt.  Debt that carries high interest is not good to hold onto. Get rid of it as soon as possible.  Long-term data shows an average return on investment of 8-11% over several decades. Before investing, keep in mind that some of those years were big stinkin’ losers.  Your rate of return is always a safe bet when you apply it to paying off high-interest-rate debt. It’s certain that you’ll get to keep the money you were paying out in interest.  The rate of return is much less stable when it comes to investing your money. You’re never guaranteed any earnings.  Hopefully, these guidelines can help you evaluate what’s best for your financial situation.  Should You Pay Off Loan Debt or Invest? Loan debt can mean many different things. Is it a car loan or a student loan? Does it charge a high or low interest rate? These variables must be considered as you decide what’s best for you.  Should I invest if I have a car loan? There’s no hard-and-fast answer to this one. Car loans are often considered short-term debt because they have a set timeframe for payback. Depending on your loan interest and money situation, it may be fine to stash away some retirement cash while paying off your car.  Most car loans are simple interest, rather than compounding loans — which is great. Interest won’t build on interest while you’re paying it back.  Car loan interest rates tend to be fairly low, especially compared with credit debt. That’s in your favor as well.  Find out what your loan interest rate is so you can evaluate that piece of the puzzle before investing.  If you’ve got a comfortable amount of cash left over after loan payments and living expenses, there’s no harm in putting money into something like a Roth IRA account that pays compound interest.  Bonus points if you can put a little extra cash into your car loan payoff each month while contributing some funds to your IRA or a 401(k).  Should I pay my student loans or invest?  If you have the burden of school loans, the interest rate and amount you owe will likely have a big influence on whether you decide to pay them off completely before investing any money.   Sometimes it’s helpful to get a good visual on the numbers. A “pay off loan or invest” calculator lets you plug in a bunch of figures to see how they fit together.  Other factors to consider are the repayment options you’ve chosen, whether you qualify for loan forgiveness, and whether you’re able to pay more than the minimum payment each month.  Keep in mind: Federal student loans generally have a low interest rate, while private loans can have outrageous rates like a credit card. High-interest debt may need to be paid ASAP before anything else.  Depending on your repayment choice, the amount you pay each month could be tied to your current income. This sometimes results in a fairly big payment. You may not have anything left over to invest, which solves the dilemma right there.  If you qualify for total or partial loan forgiveness, you’ll definitely feel better about investing.  Say you’re making great money after you graduate and can double down on your debt repayment for those student loans.  If you’re not carrying a very big balance, this could open up some choices for you.  Commit to making chunky monthly payments. You might feel pretty good about saving a little for retirement at the same time. However, if you graduated with a huge balance, paying it off as fast as you can should be the obvious choice. You’ll be saving a ton in interest.   Once that’s done, you’re free to slay your retirement goals with a killer investment strategy.  Should You Pay Off Your Credit Cards or Invest? With average credit card interest rates finishing 2021 above 16%, it would be scary not to tackle this debt before doing anything else.  The

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[ad_1] Party over? UK PM Johnson faces showdown in parliament [ad_2] Source link

[ad_1] B Medical Systems, a global leader in medical cold chain solutions, headquartered in Luxembourg, has inaugurated its new Indian manufacturing facility in Mundra, Gujarat to produce medical cold chain products.   Built with an investment of over Rs 100 crore, the facility has an annual production capacity of 100,000 units of medical cold chain products such as vaccine refrigerators, freezers, and transport boxes, which can also be quickly scaled up based on demand. The facility in Mundra is the company’s first-ever manufacturing facility outside Europe and is expected to generate hundreds of employment opportunities in the Kutch region. The Prime Minister (PM) of Luxembourg Xavier Bettel, graced the occasion and said in his message, “I am very satisfied that the first virtual summit I held with PM of India Narendra Modi a bit more than a year ago bore fruit so quickly. In less than a year’s time, the team of B Medical Systems has set up this Make in India production site and started to produce medical cold chain equipment in the state of Gujarat, which I would like to commend for its investment friendliness.” He also thanked the PM of India, the Ministry of External Affairs, the Ministry of Health and Family Welfare, the Government of Gujarat, Invest India, and Indextb for their support in B Medical Systems’ journey in India. Parshottam Rupala, Union Minister of Fisheries, Animal Husbandry & Dairying, Government of India unveiled the first made in India multi-mode vaccine refrigerator/freezer and/or ice-pack freezer unit of B Medical Systems which will play a big role in enhancing the National Animal Disease Control Program. “I extend my commendation to the Prime Minister of India and Luxembourg whose visionary leadership has culminated into the launch of this bilateral project, which will not only save millions of human lives but also animal lives. It will not only meet the demands of the human healthcare ecosystem but also the animal healthcare ecosystem,” said Rupala. The factory was inaugurated by Ambassador of the Grand Duchy of Luxembourg to India Peggy Frantzen in the presence of Rakshit Shah, Executive Director of Adani Ports and SEZ, Dr. Naveen Thacker, President, International Pediatric Association, Dr. Upendra S. Kinjawadekar (President Elect -2022, Indian Association of Pediatrics) and Dr. Bakul Parekh, (President – 2020, Indian Academy of Pediatrics) The opening ceremony also witnessed video messages and notes from the Chief Minister of Gujarat Bhupendra Rajnikant Patel, Sandeep Chakravorty, the Chairperson of the Adani Foundation, Dr. Priti G Adani, the Chief Executive Officer of Adani Ports & Special Economic Zone Ltd, Karan Adani, CEO, Invest India, Deepak Bagla, Joint Secretary, Ministry of External Affairs, Government of India, and several other dignitaries. Rakshit Shah, Executive Director of Adani Ports and SEZ, unveiled the B Medical System India Pvt Ltd’s ‘Our Make in India Journey’ memoir featuring the company’s journey over the past year. “For more than four decades B Medical Systems has been providing state-of-the-art technology products across the world from Luxembourg. Today, we have found our second home in Mundra, within the premises of the Adani Group. I would like to take this opportunity to express my gratitude and also to testify the incredible level of support we have received from everyone including the Government of India, the Government of Luxembourg, the Government of Gujarat, and the embassies of India and Luxembourg, just to name a few” said Luc Provost, CEO of B Medical Systems in his message for the occasion. “It’s a dream come true and a historical moment for B Medical Systems. To be able to support the healthcare infrastructure of India is an honour for us. We are bringing state-of-the-art technology and innovations that will deliver a reliable medical cold chain across every part of the country. The opening of this facility is a testament to our commitment to the Government of India’s ‘Make in India’ initiative and our vision is to make India the vaccine cold chain capital of the world” said Jesal Doshi, CEO of B Medical Systems India Pvt. Ltd. B Medical Systems India Pvt Ltd was established in early 2021 after B Medical Systems received the invitation from the PM of India Narendra Modi, to establish a production facility in India to support the country’s immunization efforts following the virtual bi-lateral summit between India and Luxembourg on the 19th of November 2020. [ad_2] Source link

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[ad_1] German hospitality, retail firms put more staff on shorter hours in December [ad_2] Source link

[ad_1] Mercury plunged several degrees below freezing point across Kashmir, with Pahalgam and Gulmarg resorts witnessing record low minimum temperature this winter, officials said on Wednesday. Pahalgam in south Kashmir Anantnag district, which serves as the base camp for the annual Amarnath yatra, recorded a low of minus 11.6 degrees Celsius, they said.They said it was the lowest minimum temperature of this year in the Valley. Gulmarg, the famous skiing resort in Baramulla district, recorded a low of minus 11.5 degrees Celsius. It was for the fourth straight night that the minimum temperature has fallen to minus 10 degree Celsius or below, officials said.Srinagar, the summer capital of Jammu and Kashmir, also recorded sub zero temperature last night as mercury settled at minus 3.6 degrees Celsius. The city had recorded a low of 0.2 degrees Celsius previous night, they said They said Qazigund, the gateway town to the Valley, recorded the minimum of minus 5.3 degrees Celsius, while the nearby south Kashmir town of Kokernag recorded a low of minus 7.2 degrees Celsius. The mercury in Kupwara in north Kashmir settled at a low of minus 5.5 degrees Celsius.The MeT office said the weather is likely to stay mainly dry over the next few days. Kashmir Valley is currently under the grip of the 40-day harshest winter period known as ‘Chilla-i-Kalan’ which began on December 21. ‘Chilla-i-Kalan’ is a period when a cold wave grips the region and the temperature drops considerably leading to the freezing of water bodies, including the famous Dal Lake here, as well as the water supply lines in several parts of the Valley. The chances of snowfall are the most frequent and maximum during this period and most areas, especially in the higher reaches, receive heavy to very heavy snowfall.The ‘Chilla-i-Kalan’ will end on January 31, but the cold wave continues even after that in Kashmir with a 20-day-long ‘Chillai-Khurd’ (small cold) and a 10-day-long ‘Chillai-Bachha’ (baby cold). [ad_2] Source link

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