Indian Railway wagon reaches UP from Andhra Pradesh in 3.5 years
New Delhi, July 27: In yet another ‘laurel’ for Indian railways, a goods wagon booked in 2014 took 3.5 years to complete 1400 Km journey to reach its destination in Uttar Pradesh (UP). As per reports, the wagon was booked by a trader to transport fertilizers from the Visakhapatnam port to UP’s Basti but when there was no sign of the wagon for several months, the trader contacted the Railway officials.
The officials had no explanation as to why the wagon booked to transport fertilizers from a public sector company Indian Potash Limited, reached its destination in Uttar Pradesh’s Basti after such a long time. Despite the trader’s best efforts to reach out to the railway authorities in UP and Andhra Pradesh, the authorities failed to track the wagon and its whereabouts.
The wagon finally rolled into the Basti railway station on Thursday after travelling to several railway stations for such a long time which led to the decay of the consignment.
This isn’t the first time that Indian Railways messed up destinations and timelines, in March a Delhi-bound passenger train 64464 travelling from Panipat to Delhi landed up on the wrong station. The train took a different course and reached the Old Delhi Railway station instead of New Delhi Railway station. One employee was suspended and the authorities blamed.
Last month, new coaches attached to trains running between New Delhi and Ranchi went missing. The coached belonged to premium trains such as the Rajdhani Express and Sampark Kranti Express went missing. The authorities had no clue and speculated that organised gangs were behind the theft of the bogies.
Courtesy: www.timesnownews.com
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
SEBI must name 'big players' profiteering at expense of small traders in F&O trading: Rahul Gandhi
New Delhi, Sep 24: Congress leader Rahul Gandhi on Tuesday said 90 per cent of small investors have lost Rs 1.8 lakh crore in Futures and Option (F&O) trading in three years and asked the SEBI to reveal the names of the "so called big players" profiteering at their expense.
More than 91 per cent, or 73 lakh, individual traders lost money in the F&O segment in FY24 with an average net loss of Rs 1.2 lakh per person, a study conducted by markets regulator Securities and Exchange Board of India (SEBI) revealed on Monday.
Further, 93 per cent of over 1 crore individual F&O traders incurred average losses of about Rs 2 lakh per trader (inclusive of transaction costs) during the three years from FY22 to FY24. The aggregate losses of such traders exceeded Rs 1.8 lakh crore during the period.
Gandhi, who is the leader of the Opposition in the Lok Sabha, said on X, "Uncontrolled F&O trading has grown 45X in 5 years. 90% of small investors have lost ₹1.8 lakh Cr in 3 years."
"SEBI must reveal the names of the so called 'Big Players' making a killing at their expense," the former Congress chief said.
The study said in FY24 alone, individuals incurred about Rs 75,000 crore in net losses.
It found the top 3.5 per cent of loss-makers -- about 4 lakh traders -- faced an average loss of Rs 28 lakh per person over the same period, inclusive of transaction costs.
On the other hand, only 7.2 per cent of individual F&O traders made a profit over the period of three years and only 1 per cent of individual traders managed to earn profits exceeding Rs 1 lakh, after adjusting for transaction costs.
Moreover, the number of retail traders, or individual traders, has almost doubled in two years to about 96 lakh in FY24 from about 51 lakh in FY22.
Although such investors contributed about 30 per cent to the total turnover in FY24, they are a clear majority in number terms, as 99.8 per cent of total traders in the equity F&O segment are individuals.
"The availability of sophisticated trading platforms and lower transaction costs have enabled retail investors to actively trade in options and futures contracts, contributing to the surge in market liquidity," SEBI said.
The regulator said rapid growth in F&O trading activity has highlighted the need for investor education and risk management practices, as a significant proportion of retail traders continued to incur losses in the market.
Uncontrolled F&O trading has grown 45x in 5 years.
— Rahul Gandhi (@RahulGandhi) September 24, 2024
90% of small investors have lost ₹1.8 lakh Cr in 3 years.
SEBI must reveal the names of the so called “Big Players“ making a killing at their expense.
