The Directorate of Enforcement has attached proceeds of crime worth Rs 859.15 crore generated by accused persons/entities through illegal loan apps, Minister of State for Finance Bhagwat Karad said on Tuesday. Further, assets amounting to Rs 289.28 crore have been seized under the Foreign Exchange Management Act, 1999. In a written reply to a query [...]
The power ministry has asked the Punjab power utility PSPCL to start lifting 15-20 of its domestic coal requirement through rail-ship-rail mode, while highlighting that the transport of dry fuel would be cheaper than the import of coal. The ministry in a letter to Punjab State Power Corporation Ltd (PSPCL) stated that the transport of [...]
Benchmark equity indices Sensex and Nifty closed lower on Tuesday due to selling in FMCG, metal and auto shares amid rising concerns over interest rate hikes by central banks. The 30-share BSE barometer declined by 220.86 points or 0.37 per cent to close at 60,286.04 as 22 of its constituents ended in the red. The [...]
CNG, EVs and hybrid vehicles may grab up to 30 per cent share in total auto sales in next five years even as petrol cars are likely to dominate passenger vehicle volumes in medium-term, a report said on Tuesday. Demand for Electric Vehicles (EVs) has increased exponentially in the last two years with the government's [...]
India's non-fossil fuel-based power generation capacity was at 174.53 gigawatt (GW) at the end of December 31, 2022, Parliament was informed on Tuesday. The country's total power generation capacity, including 235.81 GW from the thermal base, was at 410 GW at the end of 2022, Minister for Power, New and Renewable Energy R K Singh [...]
Coal imports cannot be reduced to zero as several thermal power projects in India are designed to utilise the imported dry fuel for its high calorific value and blending it with domestic coal is also needed to maintain fuel stocks, Parliament was informed on Tuesday. "The power plants designed for utilizing high Gross Calorific Value [...]
More than 3,600 firms have been prosecuted for manufacturing, sale and illegal import of sub-standard pesticides in the last five years and 137 companies were convicted by courts after they were found to be guilty, the government said on Tuesday. "In last 5 years (2017-18 to 2021-22), Directorate of Plant Protection, Quarantine & Storage under [...]
S&P Global Ratings on Tuesday said core inflation in India has been declining sequentially, and an elevated 6.25 per cent policy rate limits the need for further rate hikes. The Reserve Bank has increased the short-term lending rate by 225 basis points since May last year to contain inflation, mostly driven by external factors, especially [...]
Banks will face margin pressure next fiscal as they increase the deposit rates to attract funds to support sustained high loan growth, and the same will fall by 10 basis points to 3.45 per cent, a global rating agency said on Monday. "We expect the domestic banking sector's average net interest margin to slightly contract [...]
Domestic equity market started on a positive note on Tuesday, with Sensex rising 109 points and Nifty trading with moderate gains amid positive cues from other Asian markets. Investors in Asia seemed to be more positive even as the US market declined on Monday after strong data on jobs last week renewed worries about Federal [...]
