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SBP raises profit rate on savings accounts from 1.5% to 7.25%

The central bank's move follows 150 basis points increase in the benchmark policy rate.

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SBP raises profit rate on savings accounts from 1.5% to   7.25%
GNN Media: Representational Photo

Karachi: The State Bank of Pakistan (SBP) on Monday raised the profit rate on savings accounts by 1.5% to 7.25%.

The central bank announced the new regulation on its official Twitter handle and stated: “As a result of the SBP policy rate increase announced on Friday and as per SBP regulation for bank customers, the profit rate on your savings account should rise by 1.5% to a minimum profit rate of 7.25%.”

The newly set profit rate will be applicable from December 1, 2021.

The decision is in line with the central bank’s aim to document the economy of Pakistan and to benefit the masses.

In a series of tweets, the central bank also urged the depositors to ensure they avail the benefits provided to them by the SBP.

“If your bank gives you lesser profit on your savings account, please file a complaint with your bank and if not resolved please contact SBP customer complaints,” it added.

Moreover, in order to motivate people to open saving accounts, the central bank has made it mandatory for banks to provide the option to open bank accounts digitally with remote biometric and without the need for a customer to visit a bank branch from January 2022.

Faisal Ali Ghumman

Mr. Ghumman is a seasoned journalist who has 19 years of diversified experience in print, electronic and digital media. He has worked with 92 News HD, Daily Pakistan Today, Daily The Business, Daily Dawn, Daily Times and Pakistan Observer as News Reporter, Feature Writer, Editor, Web Content Editor and Article Writer. Mr Ghumman has graduated from the Bahauddin Zakariya University Multan and is currently enrolled in M.Phil in Mass Communication at the University of Punjab.

World

124 snakes found with dead body in US home

Pythons, rattlesnakes, cobras and black mambas were among the snakes found inside the home

Published by Faisal Waqas

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124 snakes found with dead body in US home

In a horrible discovery, the dead body of a man – surrounded by at least 124 snakes – was found inside a house in Maryland, United States. 

The Independent reported that the incident took place in Charles Countyof Maryland. The snakes, some of which were identified to be venomous, were kept inside cages when police reached the man’s home at around 6pm on Wednesday, the Charles County sheriff’s office said.

Police said that the man had kept the snakes, some of which were venomous, inside a cage in his house. 

One of the deceased man's neighbours, after not seeing him for a day, had gone to check in on him. 

The neighbour told the police that he peeped into the house through a window after no one answered the door and saw the man, 49, lying on the floor unconscious. 

He then decided to call 911 for help. When emergency services arrived and examined the man, he was found to be dead.

Police added that the cause of death is yet to be determined, adding that "no obvious signs of foul play have been found so far."

“Inside the house, more than 100 venomous and non-venomous snakes of different varieties were discovered in tanks situated on racks,” the Charles County Sheriff’s Office said, per the report.

The man had kept different types of snakes in his house, including pythons, rattlesnakes, cobras and black mambas, police said, adding that animal control officials were examining the snakes.

The chief animal control officer of the county told police that they had "not encountered an incident like this in more than 30 years of experience."

“Charles County Animal Control is coordinating rescue efforts relating to the reptiles with assistance from reptile experts from North Carolina and Virginia,” the police said.

It should be noted that Maryland's law prohibits people from keeping snakes as pets.

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Entertainment

Next two 'Mission: Impossible' movies starring Tom Cruise delayed until 2023, 2024

The new dates for the films are July 14, 2023, for the seventh installment, and June 28, 2024, for the eighth movie in the series

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Next two 'Mission: Impossible' movies starring Tom Cruise delayed until 2023, 2024

The seventh and eighth movies in the "Mission: Impossible" franchise starring Tom Cruise have been delayed until 2023 and 2024 because of the COVID-19 pandemic, producers Paramount Pictures and Skydance said in a statement on Friday.

"Mission: Impossible 7" had been scheduled to debut in movie theaters in September 2022, followed by "Mission: Impossible 8" in July 2023.

The new dates for the films are July 14, 2023, for the seventh installment, and June 28, 2024, for the eighth movie in the series.

"After thoughtful consideration, Paramount Pictures and Skydance have decided to postpone the release dates for Mission: Impossible 7 & 8 in response to delays due to the ongoing pandemic," the companies said in a statement.

Theater chains, including AMC Entertainment and Cinemark Holdings Inc, are still trying to recover from extended closures during the pandemic.

SOURCE: REUTERS

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Pakistan

Pakistan wants to establish friendly relation with India

FO says Pakistan is committed to have meaningful, constructive and result-oriented dialogue with India

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Pakistan wants to establish friendly relation with India

Islamabad: Foreign Office (FO) spokesperson Asim Iftikhar Ahmed has said that Pakistan wants to establish peaceful and friendly relations with all its neighbours including India.

Responding to questions during his weekly press briefing in Islamabad on Friday, the FO spokesperson maintained that Pakistan is committed to have meaningful, constructive and result-oriented dialogue with India, but the onus is on New Delhi to take necessary steps to create an enabling environment.

Talking about Pak-India relations, he said ties are not good since the unilateral and illegal actions taken by the Indian regime on August 5, 2019 in the Indian Illegally Occupied Jammu and Kashmir.

Responding to another question regarding continued oppression by the Indian forces in the held territory, the spokesperson said the international community needs to do more in checking atrocities against the innocent people of Kashmir.

Answering a query regarding return of Pakistani students to China, Asim Iftikhar said Pakistani authorities are taking up this issue with the relevant Chinese quarters so that Pakistani students can go back to China to pursue their education

 

 

 

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