Business
SBP injects Rs12.25tr via OMOs after rate cut | The Express Tribune
Gold dips in Pakistan as stronger dollar, US yields weigh; rupee posts marginal gain
KARACHI:
The State Bank of Pakistan (SBP) on Friday injected more than Rs12.25 trillion into the banking system through conventional and Shariah-compliant open market operations (OMOs) to manage short-term liquidity conditions.
According to the central bank, SBP conducted a conventional reverse repo OMO on December 19, 2025, accepting Rs12.35 trillion against total bids of Rs12.62 trillion for seven-day and 14-day tenors. The accepted rate of return for both tenors stood at 10.51% per annum, reflecting easing money market conditions following the recent policy rate cut.
Under the seven-day tenor, SBP accepted Rs1.27 trillion, while the bulk of liquidity — Rs11.08 trillion — was injected through the 14-day tenor, indicating banks’ preference for relatively longer-duration funding.
Separately, the central bank also carried out Shariah-compliant Mudarabah-based OMOs on the same day, injecting Rs81 billion into Islamic banks. SBP accepted the entire offered amount for both seven-day and 14-day tenors at rates of return of 10.57% and 10.56%, respectively.
Meanwhile, gold prices in Pakistan edged lower on Friday, tracking subdued movement in the international bullion market, where a firmer US dollar and rising Treasury yields dampened demand for the non-yielding metal. Despite the decline, prices remained on course for a weekly gain.
In the local market, the price of gold per tola fell by Rs900 to settle at Rs454,862, according to rates issued by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). Similarly, the price of 10-gram gold declined by Rs772 to Rs389,970. On Thursday, gold prices had surged, with the per tola rate increasing by Rs2,200 to Rs455,762.
Silver prices also registered a decline, shedding Rs52 to close at Rs6,848 per tola.
In the international market, spot gold rose marginally by 0.1% to $4,338.37 per ounce as of 1505 GMT, but was still set to post a weekly gain of around 0.9%. US gold futures were also up 0.1% at $4,370.10 per ounce, according to Reuters.
For next year, various research houses are forecasting gold prices in the range of $4,800 to $5,100.
Commenting on market dynamics, Adnan Agar, Director at Interactive Commodities, said differing price targets among analysts and brokers do not necessarily indicate contradictions but rather reflect varying financial models and assumptions. He noted that, similar to equities, commodities markets often see a wide range of forecasts, with investor sentiment ultimately guided by perceived upside or downside potential.
Agar added that despite expectations of relatively lower targets next year due to elevated current prices, gold remains at historically high levels. He pointed out that thin trading during the year-end holiday period could keep markets subdued but may also trigger unexpected upside movements. Given current trends, he said gold could potentially test new all-time highs in the coming weeks, possibly around late December or early January, as global markets enter a quieter phase.
Meanwhile, the Pakistani rupee posted a marginal gain against the US dollar in the inter-bank market on Friday, closing at 280.25 after appreciating by Re0.01. The local currency had ended the previous session at 280.26.
Business
GST notice: UltraTech Cement gets Rs 782 crore notice; company says it will contest – The Times of India
UltraTech Cement on Saturday said it has received a demand notice of Rs 782.2 crore from GST authorities and plans to challenge the order before the appropriate forum, according to PTI.In a regulatory filing, the Aditya Birla Group company said it is reviewing the order and considering all legal options. “The Company is reviewing the Order, considering all legal options, and accordingly would be contesting the demand,” UltraTech Cement said, PTI quoted.The demand pertains to the period 2018-19 to 2022-23 and has been raised on account of alleged short payment of Goods and Services Tax (GST), improper utilisation of Input Tax Credit (ITC) and related matters, the company said.UltraTech added that the order was passed “without due consideration of the Company’s submissions”.According to the filing, the order upholds a tax liability of Rs 3,90,95,58,194, along with applicable interest on the tax demand, additional interest of Rs 27,68,289, and a penalty of Rs 3,90,95,58,194.The company said the order was issued by the Joint Commissioner, Central Goods and Services Tax and Central Excise, Patna, on Friday.UltraTech Cement is India’s largest cement manufacturer, with a production capacity nearing 200 million tonnes per annum.
Last Updated:
The value of the gold reserves increased by $758 million to $107.741 billion during the week ended December 12, as per the RBI’s latest ‘Weekly Statistical Supplement’ data.
India’s Latest Forex Reserves.
India’s forex reserves (forex) jumped $1.689 billion to $688.949 billion during the week ended December 12, according to the latest RBI data. The value of the gold reserves increased by $758 million to $107.741 billion during the week.
In the previous reporting week, the overall reserves had increased by $1.033 billion to $687.26 billion.
For the week ended December 12, foreign currency assets, a major component of the reserves, increased by $906 million to $557.787 billion, according to the data.
Expressed in dollar terms, the foreign currency assets include the effects of appreciation or depreciation of non-US units, such as the euro, pound, and yen, held in the foreign exchange reserves.
The special drawing rights (SDRs) surged by $14 million to $18.745 billion, according to the Reserve Bank of India’s latest ‘Weekly Statistical Supplement’ data.
India’s reserve position with the IMF rose $11 million to $4.686 billion in the reporting week, according to the apex bank’s data.
The price of the safe-haven asset gold has been on a sharp uptrend over recent months, perhaps amid heightened global uncertainties and robust investment demand.
After the latest monetary policy review meeting, the RBI had said that the country’s foreign exchange reserves were sufficient to cover more than 11 months of merchandise imports. Overall, India’s external sector remains resilient, and the RBI is confident it can comfortably meet external financing requirements.
In 2023, India added around $58 billion to its foreign exchange reserves, contrasting with a cumulative decline of $71 billion in 2022. In 2024, reserves rose by just over $20 billion. So far in 2025, the forex kitty has increased by about $47-48 billion, according to data.
Foreign exchange reserves, or FX reserves, are assets held by a nation’s central bank or monetary authority, primarily in reserve currencies such as the US dollar, with smaller portions in the Euro, Japanese Yen, and Pound Sterling.
The RBI often intervenes by managing liquidity, including selling dollars, to prevent a steep depreciation of the rupee. The RBI strategically buys dollars when the Rupee is strong and sells when it weakens.
The Indian rupee has been under pressure for a host of reasons. It has already weakened by nearly 6 per cent this year on a cumulative basis.
Click here to add News18 as your preferred news source on Google.
December 20, 2025, 08:16 IST
Read More
New Delhi: Indian Railways serves about 58 crore meals every year on average and receives only 0.0008 per cent complaints on average, according to Railway Minister Ashwini Vaishnaw. Based on inquiry on these complaints, a fine of Rs 2.8 crore was imposed over the last four years, the minister informed the Rajya Sabha.
“It is the continuous endeavour of Indian Railways (IR) to provide good quality and hygienic food to travelling passengers. Necessary steps are accordingly taken by Indian Railways from time to time to improve the quality of food and services to passengers,” he said.
In order to take passenger feedback, the complaint management system over Indian Railways has been strengthened, simplified and made more accessible over the last few years through the introduction of the RailMadad Portal.
“With the launch of the RailMadad Portal, Indian Railways provided passengers a single window system to register complaints and suggestions. In case any passenger complaint related to food quality in trains is reported, prompt and appropriate punitive action is taken against the service providers for deficiency in service,” Vaishnaw said.
Among measures to improve quality, hygiene, and food safety are the supply of meals from designated base kitchens, commissioning of modern base kitchens at identified locations, installation of CCTV cameras in base kitchens for better monitoring of food preparation; and shortlisting and use of popular and branded raw materials, like cooking oil, atta, rice, pulses, masala items, paneer, dairy products etc. for food production.
Among other measures are the deployment of food safety supervisors at base kitchens to monitor food safety and hygienic practices; deployment of on-board IRCTC supervisors on trains; introduction of QR codes on food packets, enabling display of details like name of kitchen, date of packaging, etc.
Regular deep cleaning and periodical pest control in base kitchens and pantry cars is also carried out. In order to ensure compliance with food safety norms, Food Safety and Standards Authority of India (FSSAI) certification for designated food safety officers of each catering unit has been made mandatory, said the minister.
Our guide to every Week 16 NFL game: Matchup previews, predictions and what’s at stake
Mohsin Naqvi likely to attend Pakistan-India U19 Asia Cup final
GST notice: UltraTech Cement gets Rs 782 crore notice; company says it will contest – The Times of India
-
Business1 week agoHitting The ‘High Notes’ In Ties: Nepal Set To Lift Ban On Indian Bills Above ₹100
-
Tech7 days agoFor the First Time, AI Analyzes Language as Well as a Human Expert
-
Business6 days agoKSE-100 index gains 876 points amid cut in policy rate | The Express Tribune
-
Business5 days agoStudying Abroad Is Costly, But Not Impossible: Experts On Smarter Financial Planning
-
Business1 week agoIPO Explained: Meaning, Process, Benefits, Risks
-
Sports5 days agoJets defensive lineman rips NFL officials after ejection vs Jaguars
-
Tech3 days agoT-Mobile Business Internet and Phone Deals
-
Fashion3 days agoIndonesia’s thrift surge fuels waste and textile industry woes