BRI noted that during the 12 days RAFI ATM cash deposit services increased 24.5 percent year on year (yoy). (Photo: BRI doc)
JAKARTA –During the Eid 2024 period, BRI provides the best service for the community by implementing the BRI Integrated Alert Movement (BRIGesit) Ramadan and Idul Fitri (RAFI) 2024. This is done to ensure that services for the community’s needs can run smoothly.
It was recorded that during the 12 days RAFI ATM cash deposit services increased 24.5 percent year on year (yoy) from the previous IDR 11.9 trillion in 2023 to IDR 14.9 trillion in 2024. Even though cash deposit transactions at ATMs have increased, withdrawals cash at ATM machines was recorded to have fallen 10 percent yoy to IDR 33 trillion from the previous IDR 36.6 trillion in 2023.
This is as BRI has projected, namely that financial transaction activity will increase along with the Idul Fitri holiday. BRI has also anticipated this by optimizing various channels used by the public for banking transactions.
BRI Retail Funding and Distribution Director Andrijanto revealed that during the 2024 Eid holiday period the company has also prepared IDR 34 trillion in cash. BRIGesit RAFI is a readiness operation for all BRI services, including the readiness of e-Channel ATM, CRM and EDC equipment during Ramadan and Eid 1445H.
In this program, there are five main service aspects prepared starting from cash availability, Limited Service Office readiness, e-Channel support, Digital Channel, IT and Network System, and Campaign Program. This number of aspects shows the expansion of the scope of the BRIGesit program in previous years.
The decline in cash withdrawal transactions at BRI ATMs cannot be separated from the company’s continued aggressive penetration of BRImo.
“BRI is always carrying out continuous development on the BRImo Super Apps, which currently has more than 100 features and services that make it easier for people to make transactions, one of which is shopping at merchants with BRI QRIS and EDC,” said Andrijanto.
(skr)
https://www.worldysnews.com/bri-atm-deposits-will-increase-by-24-5-percent-during-the-eid-2024-period/
Expanding Overtime Protections: Biden-Harris Administration Raises Compensation Thresholds for Eligibility
Enhanced Overtime Protections for Salaried Workers
The recent announcement by the Biden-Harris administration introduces a final rule aimed at expanding overtime protections for salaried workers earning less than $58,656 annually. This rule seeks to ensure fair pay for long hours worked by millions of lower-paid employees.
New Salary Thresholds
Effective July 1, 2024, the salary threshold will be raised to $43,888 annually, with a further increase to $58,656 on Jan. 1, 2025. These adjustments are designed to provide better compensation for salaried workers who exceed 40 hours of work per week. The rule also includes provisions for updating salary thresholds every three years to keep pace with wage data.
Worker Empowerment
Acting Secretary Julie Su emphasized the importance of compensating salaried workers fairly for their overtime hours. The administration’s commitment to economic prosperity includes ensuring that employees are adequately rewarded for their hard work and dedication.
Stakeholder Engagement
Prior to finalizing the rule, the Department of Labor engaged with various stakeholders, including employers, workers, and unions, to gather feedback and insights. This collaborative approach helped shape the final rule, which clarifies the criteria for exempt employees under the Fair Labor Standards Act.
Key Provisions
- Expansion of overtime protections for lower-paid salaried workers.
- Identification of non-exempt employees for overtime compensation.
- Regular updates to salary thresholds to maintain effectiveness over time.
The rule will come into effect on July 1, 2024, marking a significant step towards ensuring fair compensation for salaried workers. To learn more about the department’s efforts to enhance overtime protections, visit here.
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Dollar Weakens Against Yen, Euro: Exchange Rate Update
(New York = Yonhap Infomax) Reporter Sunyoung Jeong = The value of the US dollar weakened.
Dollar-Yen Exchange Rate Tick Yonhap Infomax Chart
The dollar-yen exchange rate is increasing vigilance of the intervention of the Japanese foreign exchange authorities, and the dollar is showing a cautious trend ahead of the US gross domestic product (GDP) and personal consumption expenditure (PCE) inflation indicators.
According to Yonhap Infomax (screen no. 6411), as of 9:04 am on the 23rd (hereafter US Eastern time), the dollar-yen exchange rate in the New York foreign exchange market was 154.837 yen, maintaining a level similar to’ the previous one the closing price of the New York market for the day of 154.835 yen.
The Euro-Dollar exchange rate was $1.06670, up $0.00150 (0.14%) from the previous price of $1.06520.
The Euro-Yen exchange rate was 165.15 yen, up 0.23 yen (0.14%) from the previous rate of 164.92 yen.
The dollar index, which reflects the value of the dollar against six major currencies, recorded 106.005, down 0.13% from 106.138 at the previous point.
Once the dollar-yen exchange rate reached a peak of 154.87 yen. This is the highest level for 34 years since June 1990.
Market participants expect that the Japanese foreign exchange authorities will begin real intervention around the 155 yen level.
Accordingly, limited flow appears ahead of the 155 yen level.
As the finance ministers of Korea, the United States and Japan recently adopted a joint statement expressing concern about the weakening of the yen and the yen against the dollar, the possibility of joint intervention cannot be ruled out.
As the Bank of Japan (BOJ) is set to hold a monetary policy decision meeting on the 25th and 26th, attention is also focused on monetary policy.
While the yen continued to weaken against the dollar, the euro strengthened slightly.
The Euro-Dollar exchange rate rose once to the $1.069 range and then remains at the $1.066 range.
Expectations for an interest rate cut in June by the European Central Bank (ECB) remain. The prediction that the ECB will cut interest rates before the Federal Reserve has also become clear.
Asked in an interview with Le Monde whether a rate cut in June was almost certain, ECB Vice President Luis de Guindos said: “We were very clear,” adding, “If things go in the same direction as the they have been in recent weeks, a restrictive monetary policy stance will be in place in June.” “We’ll relieve him,” he said.
“Assuming nothing surprising happens between now and then,” he said, “that’s a fait accompli (fait accompli) in French.”
Despite the ECB’s prediction of an interest rate cut, market participants took cautious steps to check the US economic situation.
This is because the difference in pace between the Federal Reserve and the ECB can vary depending on how much the US economy slows down.
Market participants await the release of March US GDP and PCE inflation data this week. Accordingly, the dollar continues to move cautiously.
“This week, investors will have another opportunity to confirm the strength of the US economy with first quarter US GDP and PCE inflation,” said Carol Kong, managing director of the Reserve Bank of Australia “The interest rate cut may will be delayed until September or later,” he said.
(end)
This article was published on the Infomax financial information terminal at 22:39, two hours earlier.
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