NEW DELHI: Drawing lessons from the disruption in energy supplies because of the West Asia conflict, govt has asked oil marketing companies to work on creating a 30-day strategic reserve of LPG.Petroleum ministry joint secretary Sujata Sharma said the reserve would be over and above the 45-day rolling stock maintained by oil retailers to meet … Read more
The finance ministry on Friday asked public sector banks (PSBs) to adopt prudent expenditure and austerity measures at all levels while maintaining resilience amid evolving global uncertainties, even as it reviewed their record financial performance in FY26, PTI reported.Financial Services Secretary M Nagaraju, while chairing a meeting to review the financial performance of PSBs, advised … Read more
New Delhi: More than 40 lakh households now benefit from rooftop solar systems under PM Surya Ghar Yojana, contributing to the nation’s clean energy transition, against a target of having one crore homes covered by March next year.Launched in Feb 2024, the scheme aims to bring rooftop solar to one crore Indian homes by March … Read more
The government has asked state-run fuel retailers to expand liquefied petroleum gas (LPG) storage capacity to cover at least 30 days of demand, as supply disruptions linked to the West Asia conflict highlighted the need for larger reserves, PTI reported.“We are working on the strategic reserves. Oil marketing companies have been asked to work out … Read more
With a biofuel in the mix, E20 petrol aims at lowering emissions, at the same time reducing the requirement of petrol in the fuel mix. (AI image) For a country that imports over 85% of its crude needs, any savings in the oil imports bill is important. With the Middle East conflict and the US-Iran … Read more
India’s largest airline IndiGo reported a consolidated net loss of Rs 2,536.9 crore for the March quarter compared with a profit of Rs 3,067.5 crore a year earlier, as sharp rupee depreciation and a challenging operating environment weighed on its performance, PTI reported.The airline’s total income rose more than 3 per cent to Rs 23,830.7 … Read more
Investor wealth shrank by Rs 5.77 lakh crore on Friday as a sharp bout of selling in the final hour of trade dragged benchmark indices deep into the red amid concerns over a weaker monsoon outlook and geopolitical uncertainty.The BSE Sensex plunged 1,092.06 points, or 1.44 per cent, to settle at 74,775.74. During the session, … Read more
Capital markets regulator Sebi has imposed penalties totalling Rs 28.95 crore on Suzlon Energy, its chairman and managing director Vinod R Tanti, promoter Girish R Tanti and others for alleged misstatements in the company’s financial disclosures spanning several years, PTI reported.In a 96-page order issued on Friday, Sebi said Suzlon Energy Ltd’s financial statements did … Read more
India’s foreign exchange reserves fell by $7.511 billion to $681.384 billion in the week ended May 22, extending their decline for a second consecutive week, according to data released by the Reserve Bank of India (RBI) on Friday, reported PTI. The reserves had dropped by $8.094 billion in the previous reporting week to $688.894 billion. … Read more
Indian equity markets witnessed a sharp selloff on Friday, with the Sensex plunging more than 1,000 points and nearly Rs 5 lakh crore being wiped off investor wealth, as worries over a weak monsoon forecast, continued foreign investor selling and uncertainty around a US-Iran peace deal rattled sentiment.The Sensex closed 1,092.26 points lower at 74,775.74, … Read more