In an effort to diversify supply sources for the essential hydrocarbon resource, the state-run Gas Authority of India (GAIL) is considering acquiring a minority ownership of up to 26% in a liquefied natural gas (LNG) liquefaction plant in the US as well as long-term sourcing agreements. The largest gas utility in the nation issued an…
According to a warning in an article in the most recent monthly bulletin from the RBI, the decline in inflation is predicted to be obstinate and hampered by supply shocks over the coming year. According to the article headed “Status of the Economy,” almost every other component of the consumer price index, statistical and exclusion…
The American currency’s rise abroad and a flattish trend in local markets dampened investor optimism, causing the rupee to weaken 14 paise to close at 82.84 (provisional) on Friday. The rupee depreciated 14 paise from its previous closing of 82.70 to end the day at 82.84 (provisional) on the interbank foreign exchange market. It had…
If renewable energy companies miss project completion dates, the government will place them on a three- to five-year blacklist, according to a government decree viewed by Reuters. The New and Renewable Energy Ministry issued an order that stated, “If any renewable energy project is not finished by the set date of completion, then its bank…
Of the 15.25 lt of wheat available for sale in the open market by the Food Corporation of India (FCI), 3.85 lt had already been sold. This is 25% of the offer in the February 15th electronic auction’s second round. The second round’s weighted average price was 2,338.01/quintal, according to a statement released by the…
As a stronger currency and concerns about further interest rate hikes by the U.S. Federal Reserve clouded the picture for non-yielding metal, gold prices fell on February 17 in the international markets and were expected to decline for the week. At $1,832.42 per ounce, spot gold prices were down 0.3%. This week, the price of…
Despite government efforts, rupee trade has not taken off. The exchange rate mechanism and money repatriation are experiencing teething problems, according to officials from the ministry of trade. According to a representative of the trade ministry, “It hasn’t really taken off, but there are isolated situations where banks have started it.” India hasn’t, however, formally…
Applications for authorization under the 2007 Payment and Settlement Systems Act from well-known online PAs (non-bank payment aggregators), including Freecharge PayTM Payments Services, Payment Technologies, and PayU Payments, have been rejected by the Indian Central Bank (PSS Act). Also, the central bank amended the Technology Tapits application. Yet, to be fair, within 120 days of…
On February 16, both in the international market and in India, gold was trading marginally higher from a five-week low. At 10.21 am, gold was trading 0.08 percent higher on the Multi Commodity Exchange (MCX) at Rs 56,170 for 10 grams, while silver was trading 0.44 percent higher at Rs 65,712 for a kilogram. Spot…
Telangana, the third-largest cotton-producing State in the nation, increased its cotton production by 33% from 18.85 lakh tonnes (lt) in 2015. This is right despite the crop’s area not significantly expanding. 19 lakh hectares (lh) of cotton were planted over the time period, a 12 percent increase from 17 lh. The state’s ability to export…
