For breaking several rules, the Reserve Bank fined ICICI Bank Rs.12.19 crore and Kotak Mahindra Bank Rs.3.95 crore on Tuesday. According to the central bank, during ICICI Bank’s mandatory inspections in 2020 and 2021, the lender approved or committed loans to businesses where two of its directors also served as directors. In addition, the bank…
Oil prices increased by about $2 in early trade on Wednesday as industry data revealed a larger-than-anticipated draw in U.S. oil storage and concerns about Middle Eastern supply disruptions as a result of the escalating Israel-Hamas war. The price of Brent crude futures increased $1.62, or 1.8%, to $91.49 a barrel as investors prepared for…
Due to increased demand for major holidays, tight supply, and the fact that import taxes prevent domestic flour mills from purchasing wheat abroad, Indian wheat prices soared to an eight-month high on Tuesday. In order to boost supplies and regulate prices in front of crucial state assembly elections and a general election next year, the…
On Monday, Tata Power Renewable Energy Ltd (TPREL) announced that it has reached a deal with Endurance Technologies Ltd for the construction of a 12.5 MW captive solar facility in Maharashtra. According to a statement from TPREL, it has already signed a Power Delivery Agreement (PDA) in this regard with Endurance Technologies Ltd. The plant…
Maharashtra intends to reduce the area planted to chana and wheat by 27% and 20%, respectively, during the rabi season. Maharashtra is the second-largest producer of chana and the sixth-largest producer of wheat in the nation. As an alternative, it intends to expand the acreage of crops like jowar and maize, which require very little…
Jeera futures are rising, rising over 8.50% in the previous four sessions to settle at 57650, driven by fresh buying amid limited supply at the physical market and anticipation of the next new harvest, which is still five months away. While stockists profit from recent price declines, concerns remain on the slow exports, with seasonal…
The current oil year (November 2022–October 2023), according to trade group Solvent Extractors Association of India (SEA), is expected to see a record 17 million tonne (MT) of edible oil imports into India. Exports totaled 14 MT last year. As of 2016–17, when the nation imported 15.1 MT of oil, the volume of imported cooking…
Based on statistics given by the Ministry of Commerce & Industry, India’s inflation for the month of September 2023 was (-)0.26% (Provisional) for the wholesale pricing index (WPI). In August 2022, the WPI inflation rate was (-)0.52%, while in September 2022, it was 10.55 percent. Since April, the WPI-based inflation rate has been negative for…
The price of crude oil had a strong day, rising 5.26% to close at 7,259. The United States tightened its restrictions on Russian crude exports, which led to this remarkable increase. These bans caused supply issues in a competitive market, especially given that fourth-quarter global inventories are predicted to decline. In order to close gaps…
In response to rising oil prices, the Indian rupee faces a record-low danger this week, and bond investors will be watching the central bank’s decision on debt sales. On Friday, Brent crude gained 5.7% as investors priced in the likelihood that the Middle East war could worsen as a result of Israel’s start of military…
