(PTI) On the occasion of Olympic Day on June 23, Prime Minister Narendra Modi said India is proud of the contributions of athletes who have represented the country at the Olympics over the years to sports. Olympic Day is a global celebration of the founding of the International Olympic Committee and the modern Olympic movement, encouraging participation in sports. In a tweet, Modi said, “Today, on Olympic Day, I appreciate all those who have represented India in various Olympics over the years. Our nation is proud of their contributions to sports and their efforts towards motivating other athletes.”
Author: Aruna Sharma
(ET) The commissioning of the ambitious cross-country pipeline of Gujarat State Petronet Ltd (GSPL) from Mehsana to Bhatinda has been delayed by three to four months due to the second wave of Covid-19. The 1,670km pipeline linking Mehsana in Gujarat to Bhatinda in Punjab was earlier scheduled to be commissioned in June. The natural gas trunk pipeline project, which passes through Jaipur in Rajasthan, is estimated to cost Rs 5,500 crore. “This project is now expected to be up and running by September or October,” according to a senior company official aware of the development. “The delay has been due to Covid-related restrictions including…
India Infrastructure Finance Company Limited (IIFCL) has returned to Profitability with a Standalone Profit After Tax (PAT) of ₹286 Crore and Consolidated PAT of ₹325 Crore in Fiscal Year 2020-21, exhibiting a significant improvement over last year. During the year, the Company posted record performance with highest ever sanctions and disbursements at ₹20,892 Crore and ₹9,460 Crore, respectively, on a standalone basis. Improvement in Asset Quality and Recovery IIFCL has been able to arrest the declining asset quality trends and achieve a notable reduction of Gross NPA to 13.90% as on 31st March 2021 (down from 19.70% in previous year)…
(FE) The Centre will be procuring 75% of the doses from vaccine makers while the remaining 25% will be procured by the private sector. Till late evening 82.70 lakh doses had been administered at 67,839 vaccination centres across the country. A record 82 lakh doses of the Covid-19 vaccines were administered on Day 1 of the new vaccination phase. In this phase, the government will accelerate and expand the scope of vaccinations by providing vaccines free of cost to the states and Union Territories to immunise all over the age of 18. The Centre will be procuring 75% of the…
(LiveMint) 1366 Technologies is scouting for an Indian partner, who will handle the part of module manufacturing. Bill Gates’ Breakthrough Energy Ventures-backed 1366 Technologies plans to invest $300 million to set up a 2-gigawatt (GW) solar wafer and cell manufacturing facility in India under the government’s production-linked incentive (PLI) scheme, said chief executive and founder Frank van Mierlo. The US-based firm is in talks for an Indian partner, who will handle the module manufacturing part of the production chain and use the equipment to set up solar parks in India.
(DJ) भारतीय रिजर्व बैंक (RBI) ने मुंबई के मोगावीरा को-ओपरेटिव बैंक लिमिटेड सहित तीन सहकारी बैंको पर 23 लाख रुपए का जुर्माना लगाया है। इन पर जुर्माना विभिन्न नियमों को नहीं मानने के बाद लगाया गया है। इनमें से सबसे ज्यादा जुर्माना मोगावीरा को-ओपरेटिव बैंक लिमिटेड पर 12 लाख रुपए, इंदापुर अर्बन को-ओपरेटिव बैंक पर 10 लाख रुपए और बारामती के दि बारामती सहकारी बैंक लिमिटेड पर एक लाख रुपए का जुर्माना लगाया गया है। मोगावीरा को- ओपरेटिव बैंक ने 31 मार्च, 2019 को बैंक की वित्तीय स्थिति के आधार पर बिना दावे वाले जमा धन का जमाकर्ता शिक्षा एवं…
(ET) Crude oil production fell 6.3% year-on-year in May while natural gas output rose 19%, according to the petroleum and natural gas ministry data. A 9.6% drop in ONGC output was primarily responsible for the overall production contraction. Oil India’s production fell 2.1% while output from the fields operated by private players increased 0.7%. ONGC is facing a natural decline of output from its ageing fields. In May, oil and gas production was also affected by cyclone Tauktae that hit Arabian sea and disrupted ONGC’s operation off the Mumbai coast. Crude oil imports rose 18% in May from a year ago. The import…
(ET) With non-bank financial companies rushing to mitigate the impact of the second Covid wave on their balance sheets, estimates suggest that about a tenth of their loan books could be recast — nearly three times that during the first wave. Chief executives that ET spoke with said that profitability, too, could take a beating in the June quarter despite collection efficiencies improving in the past month.
(FE) State-run power producer NTPC has doubled its renewable energy target for 2032, and now wants to have 60,000 mega-watt (MW) of wind and solar capacity by the end of the target period. Currently, the installed renewable energy capacity of the company is 1,350 MW and by FY24, it intends to add about another 13,000 MW of green power generation base, NTPC’s management informed analysts and investors in a recent conference call. The company, by name and predominantly a thermal player, had in October, 2020, incorporated NTPC Renewable Energy, a wholly-owned subsidiary to focus on its green energy business. When the subsidiary…
(ET) The Indian government’s plan to gradually increase ethanol blending in gasoline, as a way to cut pollution and reduce its oil import bill, could be the largest change in the global sugar market since Europe’s sugar reform, and possibly drive a bull market. According to a report released on Monday by food trader and supply chain services provider Czarnikow Group, India’s ethanol program will lead the government to end sugar export subsidies and erase exportable sugar volumes from the country, currently the second-largest producer after Brazil.