The Central Bureau of Investigation (CBI) has apprehended Amit Bapna, former CFO of Reliance Capital Ltd, as part of its probe into Reliance ADA Group matters. Authorities allege Bapna, a key financial decision-maker, approved loans to intermediary firms despite knowing it violated RBI guidelines. Funds were reportedly diverted to various Reliance group entities, causing losses
India’s Finance Ministry has finalized rules for goods eligible for benefits under the India-UK trade pact, set to begin July 15. This Comprehensive Economic and Trade Agreement (CETA) will grant duty-free access to 99% of Indian exports, boosting sectors like textiles and engineering. Exporters must now provide a certificate of origin to claim these tariff
Union Minister Hardeep Singh Puri has addressed social media concerns regarding ethanol-blended fuel, dismissing claims of pest attraction and engine damage. He emphasized that ethanol usage is a century-old concept and highlighted past government efforts. Recent tests by ARAI and OEMs indicate a minor drop in fuel efficiency with E20, while Toyota clarified a specific
India has ascended to become the world’s second-largest mobile phone manufacturer and exporter, Prime Minister Narendra Modi announced, underscoring the nation’s commitment to building a comprehensive electronics and semiconductor ecosystem. This strategic push, encompassing chip design, fabrication, and packaging, is a pivotal step towards a ‘Viksit Bharat’ and represents the next phase of the ‘Make
Concerns surrounding E20 ethanol-blended petrol are being addressed by industry experts, who assure its safety for all vehicles, including older models. Years of rigorous scientific testing and consultations with automakers have confirmed its efficacy. This nationwide rollout aims to significantly reduce India’s reliance on crude oil imports, offering a more sustainable and secure energy future
The government has increased its onion procurement price to Rs 2,125 per quintal, a 13% jump, to boost farmer earnings and accelerate buffer stock building. This marks the fifth revision this season amidst sluggish procurement. Despite this, domestic availability remains stable with adequate stocks and steady wholesale arrivals. Speculative buying is noted, but consumer demand
India is bolstering its energy security following the Strait of Hormuz disruption. Prime Minister Modi inaugurated the HPCL Rajasthan Refinery, a crucial step towards self-reliance for a nation heavily reliant on oil imports. This project, alongside other development initiatives, aims to strengthen manufacturing, boost exports, and enhance resilience against future supply shocks, underscoring India’s commitment
India’s first bullet train is set to begin its journey by 2027, with the Surat to Bilimora section slated for inauguration. Union Railway Minister Ashwini Vaishnaw announced that construction on the Mumbai-Ahmedabad corridor has surpassed 80% completion. This ambitious project, utilizing Japanese Shinkansen technology, aims to drastically reduce travel time between key cities, paving the
US President Donald Trump has lauded India’s robust economic growth, a significant departure from his past criticisms. He cited India’s 7-8% growth as an example of strong performance that shouldn’t be stifled by high interest rates. This shift comes as India and the US are nearing a bilateral trade agreement, with negotiations gaining momentum.
India has permitted four Chinese power equipment manufacturers with local production to bid on critical government power projects for two years. This relaxation, aimed at accelerating power network expansion and renewable energy integration, follows a power ministry request. The move, however, has drawn sharp criticism from the Congress, citing ongoing border disputes and trade deficits
