proposes – USMAIL24.COM https://usmail24.com News Portal from USA Thu, 21 Mar 2024 10:03:23 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.3 https://usmail24.com/wp-content/uploads/2024/01/Untitled-design-1-100x100.png proposes – USMAIL24.COM https://usmail24.com 32 32 195427244 Biden proposes a larger federal role to lower housing costs https://usmail24.com/biden-housing-costs-html/ https://usmail24.com/biden-housing-costs-html/#respond Thu, 21 Mar 2024 10:03:23 +0000 https://usmail24.com/biden-housing-costs-html/

Economists in the Biden administration are calling for more aggressive federal action to reduce costs for homebuyers and renters, targeting one of the biggest economic challenges facing President Biden as he runs for re-election. The policy proposals in a White House report released Thursday include what could be an aggressive federal intervention in local politics, […]

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Economists in the Biden administration are calling for more aggressive federal action to reduce costs for homebuyers and renters, targeting one of the biggest economic challenges facing President Biden as he runs for re-election.

The policy proposals in a White House report released Thursday include what could be an aggressive federal intervention in local politics, often dictating where homes are built and who can occupy them. The administration is backing a plan to pressure cities and other places to relax zoning restrictions, which in many cases are hampering affordable housing development.

The recommendation is part of a deep dive by the new administration into a housing crisis that has been brewing for decades and is hampering the president’s chances for a second term. The proposals, included in the president’s annual Economic Report, could serve as a blueprint for a major boost to the housing market if Mr. Biden wins a second term.

The report includes a series of measures intended to reduce the cost of renting or purchasing a home, while encouraging local governments to change zoning laws to allow for the development of more affordable housing.

“It’s really hard to make a difference in this space, in this affordable housing development, without addressing land use regulations,” Jared Bernstein, the chairman of the White House Council of Economic Advisers, said in an interview.

Mr. Bernstein added that government officials believed many local leaders were encouraging a greater federal role in zoning reform — which could help override objections from local groups opposed to development. “I feel like we’re kicking ass more now than ever before,” he said.

The report is packed with statistics that illustrate why housing has become an acute source of stress for American families and an electoral burden for Mr. Biden.

The government has recognized that it has limited power over local zoning rules, which tend to dictate the design and density of housing in certain neighborhoods. Most of the president’s recommendations to expand supply involve using the federal budget as a carrot to encourage local governments to allow more construction — including adding low-income housing and smaller starter homes.

Such policies are unlikely to become law this year, with elections looming and Republicans in control of the House of Representatives.

But the focus on housing and the adoption of a comprehensive set of policies to increase supply and affordability could serve as a blueprint for a potentially bipartisan effort in this area if Mr. Biden is re-elected. It could also boost a housing reform movement that is well underway in state legislatures across the country.

The report documents how home prices have significantly exceeded wage growth for American households over the past decade. That has put ownership out of reach for middle-income homebuyers and pushed lower-income renters to the brink of poverty.

A quarter of tenants – around twelve million households – now spend more than half of their income on rent. Prices are so high that if a minimum wage worker worked 45 hours a week for a month, an average rent would eat up every dollar he or she earned.

According to the report, behind all this lies a long-term housing shortage. The lack of housing has become a rare point of agreement between Democratic and Republican lawmakers.

The shortage is the result of decades of inability to build enough homes, a trend that worsened after the 2008 financial crisis. The situation has been exacerbated by rising construction costs and many local zoning and land use regulations, which make building housing more difficult and expensive. These rules also limit which types of units can go where, for example making apartments in single-family neighborhoods illegal.

The lack of affordable housing mainly affects lower-income families and first-time couples. Millions of cheaper apartments have all but disappeared over the past decade, either due to rising rents or falling into disrepair. At the same time, smaller and cheaper ‘starter homes’ form an increasingly smaller share of the market.

In recent years, a bipartisan group of lawmakers in both red and blue states have passed dozens of state bills to limit cities’ control over development. The report applauded them and noted the government’s efforts to encourage such reforms Housing supply action planwhich was released two years ago.

Mr. Biden has focused heavily on housing in recent weeks, in part to show voters he is fighting to reduce one of their biggest monthly costs. Privately, his aides have expressed hope that interest rate cuts by the Federal Reserve this year will push down mortgage rates and possibly home prices, if a new supply of homes comes onto the market in response.

Publicly, Mr. Biden has taken the initiative, calling on lawmakers to pass major federal investments in housing supply and tax breaks for people who buy homes.

“If inflation continues to fall – and that is expected to happen – mortgage rates will also fall, but I am not going to wait,” Biden said in Las Vegas on Tuesday. “I’m not going to wait.”

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Bernie Sanders proposes reducing Americans’ workweek to 32 hours https://usmail24.com/bernie-sanders-work-week-bill-html/ https://usmail24.com/bernie-sanders-work-week-bill-html/#respond Fri, 15 Mar 2024 10:45:07 +0000 https://usmail24.com/bernie-sanders-work-week-bill-html/

Senator Bernie Sanders this week legislation unveiled to reduce the standard work week in the United States from 40 to 32 hours, without a pay cut, saying Americans are working longer for less pay despite advances in technology and productivity. If passed, the law will shorten the workweek over four years, lowering the threshold at […]

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Senator Bernie Sanders this week legislation unveiled to reduce the standard work week in the United States from 40 to 32 hours, without a pay cut, saying Americans are working longer for less pay despite advances in technology and productivity.

If passed, the law will shorten the workweek over four years, lowering the threshold at which workers qualify for overtime pay. The 40-hour work week has since become the standard in the United States codified into federal law in 1940.

At a hearing Thursday before the Senate Health, Education, Labor and Pensions Committee on the proposed law, Mr. Sanders, an independent of Vermont, said the profits from productivity increases in recent decades had been reaped only by business leaders and not shared. with workers.

“The sad reality is that Americans now work more hours than residents of any other wealthy country,” he said, citing statistics showing that U.S. workers work on average hundreds of hours longer per week than their counterparts in Japan, Great Britain Britain and Germany. .

Senator Bill Cassidy, Republican of Louisiana, said at the hearing that such a cut would hurt employers, shift jobs overseas and cause dramatic spikes in consumer prices.

“It would threaten millions of small businesses that operate on razor-thin margins because they can’t find enough workers,” Mr. Cassidy said.

Mr. Sanders is far from the first to propose the idea. The idea was suggested by Richard Nixon, pitched by autoworkers and experimented by companies ranging from Shake Shack to Kickstarter and Unilever’s New Zealand unit.

But the concept has gained momentum in recent years as the Covid-19 pandemic has caused fundamental shifts in work culture and revised expectations about employment. Rep. Mark Takano, Democrat of California, introduced the 32-hour workweek bill in the House of Representatives in 2021 and reintroduced it to complement the bill sponsored by Mr. Sanders in the Senate.

In proposing the legislation, Mr Sanders cited a trial carried out by 61 companies in Britain in 2022, where most companies that switched to a four-day working week saw revenues and productivity remain stable, while staff turnover fell significantly. The research was conducted by a non-profit organization, 4 Day Week Global, with researchers from Cambridge University, Boston College and a think tank, Autonomy.

Juliet Schor, an economist at Boston College and lead researcher on the study, testified at Thursday’s hearing that 91 percent of companies that switched to a four-day work week had stuck with the new arrangement a year later.

“Participants tell us the new schedule is life-changing,” Ms. Schor told senators.

Critics, including some who testified at this week’s hearing, say many of the pilot programs target only the kinds of companies that can afford the flexibility in work schedules, and ignore many companies where employees work hands-on.

“There is no statistical evidence to justify a national mandate of a 32-hour work week,” said Liberty Vittert, a professor of statistics at Washington University in St. Louis. “If it works for some companies in some sectors, that’s great, but it can’t be applied to all sectors.”

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US proposes new rules to make flying easier for travelers in wheelchairs https://usmail24.com/air-travel-wheelchairs-html/ https://usmail24.com/air-travel-wheelchairs-html/#respond Thu, 29 Feb 2024 10:19:05 +0000 https://usmail24.com/air-travel-wheelchairs-html/

The Biden administration announced Thursday that it is proposing new rules for how airlines must treat passengers in wheelchairs, an effort aimed at improving air travel for people with disabilities. Under the proposed rule, damaging or delaying the return of a wheelchair would be an automatic violation of an existing federal law that prohibits airlines […]

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The Biden administration announced Thursday that it is proposing new rules for how airlines must treat passengers in wheelchairs, an effort aimed at improving air travel for people with disabilities.

Under the proposed rule, damaging or delaying the return of a wheelchair would be an automatic violation of an existing federal law that prohibits airlines from discriminating against people with disabilities. The Transportation Department said the change would make it easier for the agency to penalize airlines for mishandling wheelchairs.

The proposed regulations would also require more robust training for employees who physically assist disabled passengers or handle their wheelchairs.

“There are millions of Americans with disabilities who avoid air travel due to inadequate aviation practices and inadequate government regulation, but now we want to change that,” Transportation Secretary Pete Buttigieg said in a statement. “This new rule would change the way airlines operate and ensure that travelers who use wheelchairs can travel safely and with dignity.”

For people in wheelchairs, flying can be difficult and uncomfortable, and airline mistakes can make for an even more painful experience. According to the Transportation Department, more than 11,000 wheelchairs and scooters were mishandled by airlines last year.

The proposed regulations complement previous steps by the Biden administration intended to improve the flying experience for disabled travelers. In 2022, the Department of Transportation published a Bill of Rights for Airline Passengers with Disabilities. Last year, the agency finalized new regulations to require more commercial aircraft to have accessible bathrooms.

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Gemma Collins is engaged for the third time to Rami Hawash as businessman proposes during luxury getaway to Maldives https://usmail24.com/gemma-collins-engaged-rami-hawash-second-time-htmlns_mchannelrssns_campaign1490ito1490/ https://usmail24.com/gemma-collins-engaged-rami-hawash-second-time-htmlns_mchannelrssns_campaign1490ito1490/#respond Tue, 13 Feb 2024 13:36:30 +0000 https://usmail24.com/gemma-collins-engaged-rami-hawash-second-time-htmlns_mchannelrssns_campaign1490ito1490/

By Connie Rusk for Mailonline Published: 08:26 EST, February 13, 2024 | Updated: 08:32 EST, February 13, 2024 Gemma Collins is engaged for the third time to Rami Hawash after the businessman proposed to her during their idyllic getaway to the Maldives. The former TOWIE star, 43, had been enjoying a five-star stay on the […]

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Gemma Collins is engaged for the third time to Rami Hawash after the businessman proposed to her during their idyllic getaway to the Maldives.

The former TOWIE star, 43, had been enjoying a five-star stay on the tropical island when Rami decided to pop the question on the beach.

Rami originally proposed to Gemma by placing the ring in a Christmas pudding when they first dated more than seven years ago, and she wore it again in 2017.

However, four weeks later, Gemma had called off the engagement and the star was spotted without wearing the ring at the National Television Awards.

The couple first got engaged in 2011. They got engaged again in 2021, but indefinitely 'postponed' their wedding in 2023.

Gemma Collins is engaged for the second time to Rami Hawash after the businessman proposed during their idyllic getaway to the Maldives

Gemma revealed in November that she has embarked on a fertility journey in the hope of having her first child with Rami, who has a son from a previous relationship.

The former TOWIE star has suffered three heartbreaking miscarriages and has been open about her struggles to conceive in recent years.

Speaking exclusively to MailOnline about her family plans, she revealed she was happy to hear that Tana Ramsay had welcomed her sixth child at the age of 49, as it gave her hope that she too could get pregnant in her 40s.

She said: “The Tana Ramsay news was the best thing to wake up to. Incredible.

'It really made me think positively about my future and took the pressure off. I don't think anyone knew she was pregnant so it was a nice surprise, but I got butterflies in my stomach when I saw it.

'This is great news for me. I will be starting my fertility journey in the coming weeks. I'm going to a clinic, so watch these cards and get ready, sweetie.'

The former TOWIE star, 43, was enjoying a five-star stay on the tropical island when Rami decided to pop the question on the beach

The former TOWIE star, 43, was enjoying a five-star stay on the tropical island when Rami decided to pop the question on the beach

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Hamas proposes three 45-day ceasefires leading to the end of the war, with the remaining Israeli hostages released in exchange for Palestinian prisoners and the IDF's withdrawal from Gaza https://usmail24.com/hamas-proposes-three-45-day-ceasefires-leading-end-war-remaining-israeli-hostages-freed-return-palestinian-prisoners-idf-withdrawal-gaza-htmlns_mchannelrssns_campaign1490ito1490/ https://usmail24.com/hamas-proposes-three-45-day-ceasefires-leading-end-war-remaining-israeli-hostages-freed-return-palestinian-prisoners-idf-withdrawal-gaza-htmlns_mchannelrssns_campaign1490ito1490/#respond Wed, 07 Feb 2024 12:21:59 +0000 https://usmail24.com/hamas-proposes-three-45-day-ceasefires-leading-end-war-remaining-israeli-hostages-freed-return-palestinian-prisoners-idf-withdrawal-gaza-htmlns_mchannelrssns_campaign1490ito1490/

Hamas has proposed a ceasefire plan that would silence weapons in Gaza for four and a half months, leading to an end to the war and the release of the remaining hostages in exchange for Palestinian prisoners and the withdrawal of the IDF from Gaza. It comes in response to a proposal sent last week […]

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Hamas has proposed a ceasefire plan that would silence weapons in Gaza for four and a half months, leading to an end to the war and the release of the remaining hostages in exchange for Palestinian prisoners and the withdrawal of the IDF from Gaza.

It comes in response to a proposal sent last week by Qatari and Egyptian mediators and backed by the United States and Israel.

According to a draft document seen by Reuters, the Hamas counterproposal envisions three phases, each lasting 45 days.

The proposal would see terrorists exchange the remaining Israeli hostages they captured on October 7 for Palestinian prisoners.

Reconstruction of Gaza would begin, Israeli forces would withdraw completely, and bodies and remains would be exchanged.

The proposal would see terrorists exchange the remaining Israeli hostages they captured on October 7 for Palestinian prisoners

Palestinians return to their neighborhood after Israeli forces withdrew from Shuja'iyya neighborhood, inspecting destroyed buildings and roads due to Israeli attacks in Gaza City, Gaza on Tuesday

Palestinians return to their neighborhood after Israeli forces withdrew from Shuja'iyya neighborhood, inspecting destroyed buildings and roads due to Israeli attacks in Gaza City, Gaza on Tuesday

Smoke rises during the Israeli bombardment of Rafah, in the southern Gaza Strip, on Tuesday

Smoke rises during the Israeli bombardment of Rafah, in the southern Gaza Strip, on Tuesday

US Secretary of State Antony Blinken arrived in Israel overnight after meeting with the leaders of mediators Qatar and Egypt in the most serious diplomatic effort of the war yet aimed at reaching an extended ceasefire. Details of Hamas's counteroffer have not previously been reported.

According to the document, during the first 45-day phase, all Israeli female hostages, men under the age of 19, and the elderly and sick would be released, in exchange for the release of Palestinian women and children from Israeli prisons. Israel would also withdraw its troops from populated areas during the first phase.

Implementation of the second phase would begin only after the sides “concluded indirect discussions on the requirements necessary to end mutual military operations and return to complete calm.”

The second phase would include the release of the remaining male hostages and “the withdrawal of Israeli forces beyond the borders of all areas of the Gaza Strip.”

Bodies and remains would be exchanged during the third phase. The ceasefire would also increase the flow of food and other aid to Gaza's desperate civilians, who face hunger and a severe shortage of basic services.

Thirty-two of the more than 130 hostages still held by Hamas are no longer alive, according to a report.

Citing a confidential assessment conducted by Israeli intelligence officials, The New York Times reported yesterday that more hostages have been killed than previously thought.

So far, the IDF had only confirmed the deaths of 29 of the prisoners still in Gaza.

In addition to the 32 confirmed deaths, the IDF is assessing “unconfirmed intelligence” that at least 20 other hostages may also have been killed, the report said, citing four military officials speaking on condition of anonymity.

US Secretary of State Antony Blinken (L) meets with Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani, Prime Minister and Minister of Foreign Affairs of Qatar, on Tuesday in Doha, Qatar

US Secretary of State Antony Blinken (L) meets with Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani, Prime Minister and Minister of Foreign Affairs of Qatar, on Tuesday in Doha, Qatar

A view of the demolition as Palestinians return to their neighborhoods to search for their belongings in the Shuja'iyya district after Israeli forces withdrew from the area on Tuesday in Gaza City, Gaza

A view of the demolition as Palestinians return to their neighborhoods to search for their belongings in the Shuja'iyya district after Israeli forces withdrew from the area on Tuesday in Gaza City, Gaza

A view of the demolition as Palestinians return to their neighborhoods to search for their belongings in the Shuja'iyya district after Israeli forces withdrew from the area on Tuesday in Gaza City, Gaza

A view of the demolition as Palestinians return to their neighborhoods to search for their belongings in the Shuja'iyya district after Israeli forces withdrew from the area on Tuesday in Gaza City, Gaza

The officials said the families of the dead have all been informed of their deaths and confirmed that most of the dead were killed in the October 7 attacks and that their bodies were taken to Gaza.

IDF spokesman Admiral Daniel Hagari said in response to the report that the IDF is “working in every possible way to return.” [the hostages] home, and exhaust all information about them and their circumstances'.

He added: “The IDF is accompanying the families of the hostages in these complex and difficult days, and our representatives are providing the families with all confirmed information about their loved ones.”

He said the IDF has so far informed the families of 31 hostages that their loved ones have been confirmed killed.

These include 29 hostages taken by Hamas on October 7 – all announced in recent months – and soldiers Oron Shaul and Hadar Goldin, who were killed and their bodies taken by Hamas in 2014.

“To the rest of the families, we have provided accurate information about their fate and circumstances,” he added.

The Hostages and Missing Families Forum said the IDF had said before the article's publication that 31 of the hostages, down from 32, had died.

Israel began its military offensive in Gaza after terrorists from Hamas-ruled Gaza killed 1,200 people and took 253 hostages in southern Israel on October 7.

Of the 253 hostages seized, 132 are believed to still be held after a week-long ceasefire in late November during which 105 people were released.

Four hostages were released before the armistice and another was rescued by the military.

Gaza's health ministry says at least 27,708 people have been killed in Israel's military campaign, while thousands more are feared buried under the rubble.

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Assam Govt proposes joint state board for classes 10 and 12; Details Inside https://usmail24.com/assam-govt-proposes-common-state-board-for-classes-10-and-12-replace-seba-and-ahsec-with-assam-state-school-education-board-6709801/ https://usmail24.com/assam-govt-proposes-common-state-board-for-classes-10-and-12-replace-seba-and-ahsec-with-assam-state-school-education-board-6709801/#respond Wed, 07 Feb 2024 11:30:07 +0000 https://usmail24.com/assam-govt-proposes-common-state-board-for-classes-10-and-12-replace-seba-and-ahsec-with-assam-state-school-education-board-6709801/

At home Education Assam Govt proposes joint state board for classes 10 and 12; Details Inside The Assam government has introduced a new bill in the assembly, Assam State School Education Board Bill, 2024, which proposes to merge the education body for classes 10 and 12. Here's everything you need to know. Updated: Feb 7, […]

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The Assam government has introduced a new bill in the assembly, Assam State School Education Board Bill, 2024, which proposes to merge the education body for classes 10 and 12. Here's everything you need to know.



Updated: Feb 7, 2024 4:17 PM IST


By IANS

New Delhi: The Assam government on Wednesday proposed to merge the state's class 10 and 12 boards into a single entity to manage secondary education. The state government has introduced the Assam State School Education Board Bill, 2024, in the Assembly for creating a new body to monitor the education system up to Class 12 in the state.

What is the Assam State School Education Board Bill, 2024

As per the bill, the Board of Secondary Education, Assam (SEBA) and the Assam Higher Secondary Education Council (AHSEC) will be merged to create a new body: Assam State School Education Board (ASSEB). The bill has been brought to “regulate, control and develop secondary education in the State of Assam by merging the existing Board of Secondary Education, Assam and Assam Higher Secondary Education Council,” the preamble of the legislation said.

The Assam State School Education Board (ASSEB)

The ASSEB will be led by a chairman, to be appointed by the government. Under him, an individual vice-chairman will look after each division and he or she will be nominated by the government. The new board will have a total of 21 members, who will serve a three-year term, renewable for an equal period.

“The objective is to introduce the Assam State School Education Board Bill, 2024, to develop, regulate and monitor the standards and quality of school education in the State of Assam,” Education Minister Ranoj Pegu said in the Statement of Purpose and Reasons for the bill. .

Earlier in November last year, the merger decision was taken at a meeting of the state cabinet chaired by Chief Minister Himanta Biswa Sarma. The SEBA conducts the Class 10 board exam while the Class 12 exams are conducted by the AHSEC. The move comes after SEBA leaked at least two question papers of SEBA's Class 10 board exams in 2023.

In March last year, general scientific and Assamese articles were leaked. This forced the SEBA and the government to reschedule the exams of general sciences, all subjects of Modern Indian Languages ​​(MIL), including Assamese, and English (IL).



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Budget 2024: Center proposes interest-free loan of Rs 75,000 crore to states for 'Viksit Bharat' https://usmail24.com/budget-2024-centre-proposes-rs-75000-crore-interest-free-loan-to-states-for-viksit-bharat-6698225/ https://usmail24.com/budget-2024-centre-proposes-rs-75000-crore-interest-free-loan-to-states-for-viksit-bharat-6698225/#respond Thu, 01 Feb 2024 23:16:54 +0000 https://usmail24.com/budget-2024-centre-proposes-rs-75000-crore-interest-free-loan-to-states-for-viksit-bharat-6698225/

At home Company Budget 2024: Center proposes interest-free loan of Rs 75,000 crore to states for 'Viksit Bharat' In her Budget 2024 speech in the Lok Sabha today, Finance Minister Nirmala Sitharaman tabled the proposal to help states achieve the vision of 'Viksit Bharat'. Sitharaman said the vision for 'Viksit Bharat' is that of a […]

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In her Budget 2024 speech in the Lok Sabha today, Finance Minister Nirmala Sitharaman tabled the proposal to help states achieve the vision of 'Viksit Bharat'.

Sitharaman said the vision for 'Viksit Bharat' is that of a prosperous Bharat in harmony with nature, with modern infrastructure, and providing opportunities for all citizens and all regions to achieve their potential.

Budget 2024: Finance Minister Nirmala Sitharaman on Thursday said the Union government is considering providing Rs 75,000 crore as interest-free loan to states to help realize the vision of 'Viksit Bharat'. The loan, Sitharaman said, will be interest-free for 50 years and is aimed at helping support reforms by states to achieve the goal of a developed India or 'Viksit Bharat' by the year 2047.

The BJP-led central government has set a vision to make India a developed country by 2047.

Interest-free loan to states

In her Budget speech in the Lok Sabha today, the Finance Minister tabled the proposal to help states achieve the vision of 'Viksit Bharat'. Many reforms are needed in the states to enable growth and development to achieve the vision of 'Viksit Bharat', she said.

“A provision of seventy-five thousand crore rupees as interest-free loan of fifty years is proposed this year to support these landmark related reforms by the state governments,” Sitharaman said.

As per the budget documents, the total funds transferred to the states, including transfer of state shares, grants/loans and releases under centrally sponsored schemes in 2024-25 (budget estimates), is Rs 22,22,264 crore.

This is an increase of Rs 4,13,848 crore over the actual figures of fiscal year 2022-2023.

'All-inclusive development'

The Finance Minister said the Modi government is working with a development approach that is comprehensive, pervasive and comprehensive.

“It includes all castes and people at all levels. We are working to make India a 'Viksit Bharat' by 2047. To achieve that goal, we need to improve people's capabilities and empower them,” she said.

The minister said the vision for 'Viksit Bharat' is that of a prosperous Bharat in harmony with nature, with modern infrastructure, providing opportunities for all citizens and all regions to achieve their potential.

She also said in the full July budget, “our government will present a detailed roadmap for our pursuit of 'Viksit Bharat'”.

Interim budget 2024

Union Finance Minister Nirmala Sitharaman on Thursday presented the interim Budget 2024 and expressed hope that the good policies and work of the central government will help the BJP return to power for the third time in a row.

“Our young country has high ambitions, is proud of the present and has hope and confidence in a bright future. We expect that on the basis of its astonishing work, our government will once again be blessed by the people with a resounding mandate,” the Finance Minister said in her Budget speech in the Lok Sabha.

(With input from agencies)



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RBI proposes stricter rules for housing finance companies; View all the details here https://usmail24.com/rbi-proposes-stricter-rules-for-housing-finance-firms-check-all-details-here-6657729/ https://usmail24.com/rbi-proposes-stricter-rules-for-housing-finance-firms-check-all-details-here-6657729/#respond Mon, 15 Jan 2024 17:28:47 +0000 https://usmail24.com/rbi-proposes-stricter-rules-for-housing-finance-firms-check-all-details-here-6657729/

At home Company RBI proposes stricter rules for housing finance companies; View all the details here The RBI's draft circular proposes to revise certain deposit taking guidelines of NBFCs as part of further harmonization of HFC regulations with those of NBFCs. Mumbai: The Reserve Bank of India on Monday issued a draft circular proposing to […]

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The RBI's draft circular proposes to revise certain deposit taking guidelines of NBFCs as part of further harmonization of HFC regulations with those of NBFCs.

Mumbai: The Reserve Bank of India on Monday issued a draft circular proposing to harmonize regulations of housing finance companies (HFCs) with those of non-banking finance companies (NBFCs) in several areas such as minimum capital requirement and deposit taking. regulations. The RBI also said that it has conducted a review of the deposit guidelines for deposit withdrawals, HFCs, participation of HFCs in various derivatives for hedging purposes, diversification into other financial products and adoption of technical specifications in the account aggregator ecosystem, since That reports news agency IANS.

What does the draft circular propose?

The draft circular proposes to revise certain deposit taking guidelines of NBFCs as part of further harmonization of HFC regulations with those of NBFCs.

The draft circular also provides for stricter rules for HFCs in the future. Currently, HFCs are subject to simpler prudential parameters for deposit acceptance compared to NBFCs. Since regulatory concerns related to deposit acceptance are common to all categories of NBFCs, it has been decided to move HFCs to the deposit acceptance regulatory regime as applicable to NBFCs that accept deposits, the RBI said.

Accordingly, the revised regulations would apply to HFCs that accept or hold public deposits, the RBI said.

Current regulatory status

Moreover, deposit-taking HFCs are currently required to maintain 13 percent of their liquid assets against public deposits held by them. It has now been decided that all deposit-taking HFCs will have to maintain liquid assets in a phased manner up to 15 percent of the public deposits they hold.

Under the plan, the deposit HFCs will have to take the percentage of liquid assets to 14 percent by September 30, 2024, and to 15 percent by March 31, 2025, the RBI said. It has also been decided that regulations on safe custody of liquid assets for HFCs will be aligned with those of NBFCs in the interest of regulatory harmonization, the RBI said.

In addition, the proposed regulations aim to harmonize regulations regarding the appointment of agents, interest and maturity of deposits, participation in exchange-traded currency derivatives, interest rate futures, credit default swaps, issuance of co-branded credit cards, financial year and audit , and investments through alternative investment funds, among others, in accordance with the draft circular. NBFCs, HFCs and other stakeholders are invited to comment on the draft circular by February 29, 2024.

(With input from agencies)



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Gov. Kathy Hochul proposes $25 million in state funding for ALS research https://usmail24.com/gov-kathy-hochul/ https://usmail24.com/gov-kathy-hochul/#respond Mon, 15 Jan 2024 09:42:17 +0000 https://usmail24.com/kathy-hochul-als-funding-html/

Gov. Kathy Hochul will propose an appropriation Tuesday that would provide one of the largest amounts ever invested by a state in research into amyotrophic lateral sclerosis, the neurodegenerative disease known as ALS. The appropriation, part of Ms. Hochul’s overall budget proposal, would direct $25 million to ALS research, creating a program that would support […]

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Gov. Kathy Hochul will propose an appropriation Tuesday that would provide one of the largest amounts ever invested by a state in research into amyotrophic lateral sclerosis, the neurodegenerative disease known as ALS.

The appropriation, part of Ms. Hochul’s overall budget proposal, would direct $25 million to ALS research, creating a program that would support several efforts, including drug development. The governor said she hoped the program could also serve as a foundation for tackling other rare diseases.

Ms. Hochul’s mother, Patricia Courtney, died in 2014 from ALS, also known as Lou Gehrig’s disease. She never saw her daughter become a lieutenant governor or governor. But last week, as Ms. Hochul stood in the State Assembly and laid out her goals for the coming year in her State of the State address, she had her mother in mind when she announced her commitment to fund research into “rare diseases like ALS, who rob millions, like my own mother, of their vitality.”

In an interview, Ms. Hochul said that “it was obviously a very personal moment for me,” adding that she was usually reluctant to talk about her family. “By talking about it at that location, people can understand that we are working on this in a way that we hope will produce a different outcome for them,” she said.

The governor said health care was one of her top priorities when she first took office and that people with rare diseases had remained at the forefront of her thoughts. So when Ms. Hochul was at an event and encountered Dan Doctoroff, a former deputy mayor of New York City who has been living with ALS as of 2021, she immediately invited him to work with her. Mr. Doctoroff’s nonprofit organization, Target ALS, is committed to raising money for ALS research.

“Being in the ALS community, you feel like you’re brothers and sisters just by having experienced it,” said Mr. Doctoroff, whose father, uncle and college roommate died of the disease. “We feel connected to each other in a way that is deeply emotional.”

He said the intent of Ms. Hochul’s program would be to provide care and early diagnosis to all ALS patients, whose data could then be used to support research efforts across the state. The money will also be used to provide pharmaceutical companies with incentives to invest in the development of drugs to treat ALS and to fund regional centers outside the New York City metro area to provide better care to patients outside urban locations.

Misdiagnoses and late ALS diagnoses are major problems, stealing time from people with a disease that typically becomes fatal within two to five years. According to the Target ALS websiteEarly symptoms include twitching or cramping in the arms, legs, shoulders, or tongue, weakness, slurred speech, and difficulty chewing.

Ms Hochul’s mother was misdiagnosed, delaying treatment and leaving the family in limbo. She died not long after her ALS diagnosis.

“I’m not saying it would have changed the outcome, but it certainly would have given us some knowledge about what she was actually going through,” Ms Hochul said.

Dr. Neil A. Shneider, the director of the Eleanor and Lou Gehrig ALS Center at Columbia University, said New York was well positioned to advance ALS research because of the number of specialized centers in the state, such as his own and the New York City. York Genome Center, as well as nonprofits such as Target ALS.

“These kinds of efforts, I think, can only be supported with public money,” he said. “I think this money will be a real impetus for progress and change.”

Dr. Shneider added that ALS research has historically been underfunded, something Ms. Hochul also acknowledged. She called her proposal “trying to make up for lost time.” ALS research has made significant progress over the past five years, Mr. Doctoroff said, with an increase in academic studies, nonprofit involvement and federal government investment. In December 2021, President Biden signed the ALS Act, which invests $100 million annually for five years to provide research grants and accelerate the development of therapies. The missing piece in New York’s fight against ALS was state support.

“We are making progress in every respect,” Mr. Doctoroff said. “I think the field believes this is a treatable disease, that we can solve it. But it won’t happen overnight.”

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As pressure mounts, Israel’s minister proposes a plan for post-war Gaza https://usmail24.com/israel-plan-gaza-html/ https://usmail24.com/israel-plan-gaza-html/#respond Sat, 06 Jan 2024 00:55:57 +0000 https://usmail24.com/israel-plan-gaza-html/

As Secretary of State Antony J. Blinken returned to the Middle East on Friday in an effort to defuse escalating tensions, Israel’s Defense Minister presented a post-war plan for the Gaza Strip that exposed divisions in Prime Minister Benjamin Netanyahu’s wartime government. The proposal from Defense Minister Yoav Gallant, a moderate member of Netanyahu’s right-wing […]

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As Secretary of State Antony J. Blinken returned to the Middle East on Friday in an effort to defuse escalating tensions, Israel’s Defense Minister presented a post-war plan for the Gaza Strip that exposed divisions in Prime Minister Benjamin Netanyahu’s wartime government.

The proposal from Defense Minister Yoav Gallant, a moderate member of Netanyahu’s right-wing Likud party, was widely seen as a trial balloon, but it showed the pressure Israel faced as Washington and others pushed for a shift to politics. a less intense phase of the war.

Further complicating diplomatic efforts in the region, Hassan Nasrallah, the head of the powerful armed group Hezbollah, which has clashed with Israeli forces along the Israel-Lebanon border, on Friday ruled out any negotiations to stop the fighting until the war in Gaza is over. .

Mr Gallant’s proposal, shared at a stormy meeting of Israel’s security cabinet on Thursday, is based on the army’s defeat of Hamas in Gaza. It calls on Israel to maintain military control of Gaza’s borders while a “multinational task force” oversees reconstruction and economic development in the territory, which has been devastated by nearly three months of brutal Israeli airstrikes.

Under the plan, Gaza residents with no ties to Hamas, which controls Gaza and has been designated a terrorist organization by the United States and the European Union, would handle civil affairs in the enclave, according to details of the cabinet meeting reported to the United States has been leaked. Israeli news media. But there would be no role for the Palestinian Authority, which administers parts of the Israeli-occupied West Bank, and no resettlement of Israelis in Gaza – an idea that far-right Israelis support.

The proposal appeared to be an attempt to find a middle ground between the post-war plans of the United States and members of Israel’s far right. The Biden administration has called for a “renewed and revitalized” Palestinian Authority to govern Gaza after the war, seeing this as a path to a two-state solution that would create a Palestinian state consisting of Gaza and the West Bank, a proposal that many Israelis on the right are against it.

In a Facebook post, a far-right Israeli leader, Bezalel Smotrich, the finance minister, criticized Mr. Gallant’s plan and suggested it risked a repeat of the deadly Hamas-led attack on Israel on October 7. He reiterated his call for the “voluntary emigration” of Palestinian citizens from Gaza, where most of the 2.2 million residents have been driven from their homes. Many are hungry, sick and living in dilapidated tents.

In recent days, Mr. Smotrich and another far-right Israeli leader, Itamar Ben-Gvir, the minister of national security, have suggested that Palestinians should leave Gaza and that Israelis should resettle the enclave as part of a long-term solution to the war. .

France, Germany and the United States denounced the comments, which the Foreign Ministry called “inflammatory and irresponsible.”

Israeli news media described the Israeli security cabinet meeting as turbulent, saying it had ended in an outburst after several ministers attacked army chief of staff Lt. Gen. Herzi Halevi for forming a committee to investigate military failures that led to the attack. The October 7 attacks killed about 1,200 people and abducted 240 others to Gaza, according to Israeli authorities. The ministers criticized the composition of the committee and questioned whether the investigation should be conducted while Israel was at war.

Netanyahu’s governing coalition has a fragile majority, with 64 seats in the 120-seat parliament. Days after the October 7 attack, some of Netanyahu’s centrist rivals joined him to form an emergency government and strengthen his small war cabinet. But they have not signed any coalition agreement, and they have said they will leave the government when they see fit.

With his popularity at a new low, largely due to the October 7 security scare, Netanyahu is reluctant to see elections anytime soon and needs to keep his governing coalition together to stay in office.

In a speech on Friday, Mr. Nasrallah, the leader of Hezbollah, addressed Israelis directly, telling them: “You must demand your government to stop the offensive.”

“There will be no dialogue unless the aggression in Gaza stops,” he added, warning: “You will be the first to pay the price.”

The statement came as Mr Blinken embarked on a tour of the Middle East aimed at preventing a wider regional war following Tuesday’s killing of a senior Hamas official in a suburb of the Lebanese capital Beirut.

Israel has not publicly accepted or denied responsibility for the killing, but two senior Lebanese security officials, who declined to be identified because they were not authorized to discuss an active investigation, said Israel carried out the attack using six missiles , two of which failed to explode.

The caretaker government of Lebanon said Friday that it had filed a complaint with the UN Security Council over the strike, calling it the “most dangerous phase” yet of the conflict and a violation of its territorial sovereignty.

Mr. Nasrallah reiterated a message he delivered in a speech on Wednesday in which he vowed that Hezbollah would avenge the killing of Hamas leader Saleh al-Arouri, whom he described as a “dear friend.”

“This will not go unpunished,” Mr Nasrallah said on Friday. “We cannot remain silent. ”

But he did not say how or when Hezbollah would respond. And while clashes have intensified along the Israel-Lebanon border, none have yet signaled a clear escalation.

Michael Levenson contributed reporting from New York.

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