BUSINESS
BOT operators at major ports seek change in policy from the Shipping Minister
Since Prime Minister Narendra Modi announced the "Atmanirbhar Bharat Abhiyan" for making India a self-reliant nation, the government has brought in reforms and policy changes to reduce dependency of coal from other countries and emphasized on increasing the coal production within country and replace at least 100 million metric tons (MMT) of coal imports in FY22, which is welcome move, however it has impacted the operations of single commodity ports operators, particularly having the permissions to handle the coal.
Flipkart Wholesale rolls out new credit program to support kiranas
Flipkart Wholesale's credit offerings, including 'Easy Credit' in partnership with IDFC FIRST Bank, are in line with a series of initiatives undertaken to solve local pain points of kiranas in India and boost prosperity for them by making their business easier using technology.
Government planning to monetize 25 airports, to fetch Rs 20,000 crore in next 4 years
Under the National Monetisation Pipeline (NMP) which was unveiled on Monday, divestment of AAI residual stake in four airports of JVs is also being considered. Under NMP, the government has identified 13 sectors that could monetize their assets, airport being one of them.
Petrol, diesel prices cut again as global oil rates soften
Accordingly, the pump price of petrol and diesel was cut 15 paise per litre to Rs 101.49 a litre and Rs 88.92 a litre respectively in Delhi. Across the country as well fuel prices were cut between 10-20 paise per litre but its retail rate varied depending on the level of local taxes in states.
Equity indices in green; metal, oil & gas stocks rise
The rise in the domestic indices was led by metal and oil and gas stocks. Around 10.25 a.m., Sensex was trading at 55,696.12, higher by 140.33 points or 0.25 per cent from its previous close of 55,555.79. It opened at 55,647.11 and has so far touched an intraday high of 55,816.70 and a low of 55,536.84 points. The Nifty50 on the National Stock Exchange was trading at 16,545.85, higher by 49.40 points or 0.3 per cent from its previous close.
Microsoft, Invest India to nurture 11 tech startups
The 11 startups will gain access to benefits including Azure credits, as well as support for technology and business acceleration, focused on scaling their growth. They will be able to utilise Microsoft technology including Azure, GitHub, and M365, allowing them to quickly build and run their businesses, the company said in a statement. The Microsoft for Startups programme will work closely with Accelerating Growth of New India's Innovations (AGNIi Mission), a programme of the Office of the Principal Scientific Adviser to the Indian government.
Financial security encouraging batsmen to go bang-bang: Gavaskar
Gavaskar was asked if better protective equipment were encouraging batsmen to play more aggressively than before. "It is not just the protective gear. I think it is the cushion that they have in terms of the T20 leagues that they can be part of. When we played, whatever income we got, 500 rupees or when I finished playing cricket, it was 5,000 rupees for a Test match, that was extra income for us," said Gavaskar.
Jio tops subscriber race in June, Vodafone Idea's user base erodes
Jio added over 54.66 lakh subscribers during the month, taking its total subscriber base to 43.67 crore, data from the Telecom Regulatory Authority of India (TRAI) showed. Bharti Airtel added over 38.12 lakh to take its total customers to over 35.21 crore. On the other hand, Vodafone Idea continued to lose customers. In June, it lost over 42.89 lakh subscribers and by the end of the month.
A 'tiered regulatory' framework on UCBs required: RBI panel
In its report, the Expert Committee on Primary (Urban) Co-operative Banks, under the chairmanship former RBI Deputy Governor N.S. Vishwanathan, said: "The Committee observed that given the heterogeneity in the sector, a tiered regulatory framework with more than two tiers is required to balance the spirit of mutuality and co-operation more prevalent in banks of smaller sizes.
CCI imposes Rs 200 cr penalty on Maruti Suzuki over discount diktat
The anti-trust body, in its order, said that Maruti Suzuki not only entered into an agreement with its dealers across India for the imposition of discount control policy amounting to retail price maintenance (RPM), but also monitored the same by appointing Mystery Shopping Agencies (MSA) and enforced the same through the imposition of penalties, which resulted in "appreciable adverse effect on competition" within India.
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