India looking to expand strategic petroleum reserves with new facilities in MP, Rajasthan

India is bolstering its energy security by planning strategic reserves of crude oil (representative image) NEW DELHI: India is looking to expand its strategic petroleum reserves with new facilities at Bina in Madhya Pradesh and Bikaner in Rajasthan, besides adding storage capacity at Mangalore, to strengthen the country’s energy security against supply disruptions.According to a…

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New RBI rules may end loan spread tinkering; to standardise rate setting across banks, NBFCs

The methodology used to calculate internal benchmarks will also have to be made publicly available MUMBAI: Lenders may no longer be able to tinker with loan spreads over the benchmark rate to offer new borrowers better deals than existing customers. Draft RBI rules seeking to standardise interest-rate setting across banks, NBFCs and cooperatives require lenders…

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Food prices push up retail inflation to 4.45% in July

Price pressures remain stronger in rural India (4.8%), up from 4.7% in June NEW DELHI: Retail inflation inched up to 4.45% in July on expensive kitchen staples, including onion and ginger, even as price rise remained above the Reserve Bank’s median target for the second consecutive month, according to govt data.The consumer price index (CPI)-based…

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What N Chandrasekaran told Tata Sons staff

N Chandrasekaran announced that he will not seek another term as chairman of Tata Sons after his current tenure expires. (Reuters file photo) N Chandrasekaran, who has decided to step down as Tata Sons chairman, told employees to ignore the speculation and conspiracy theories circulating over the group’s leadership transition. Earlier today, N Chandrasekaran announced…

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