The Ministry of Petroleum and Natural Gas on Saturday dismissed reports suggesting that an Iranian crude oil shipment meant for India had been rerouted to China due to payment-related hurdles, asserting that such claims are incorrect. Clarifying the situation, the ministry said, “The news reports and social media posts of an Iranian crude cargo being…
NEW DELHI: Govt is working to step up the supply of induction cooktops and vessels, while nudging companies and institutional kitchens to move to electricity-based cooking to reduce pressure on gas.To meet the immediate requirement of cooktops, whose demand has increased in the wake of LPG concerns, imports are lined up, while domestic production is…
NEW DELHI: India’s vast informal manufacturing sector has seen jobs stay flat for nearly a decade, while the formal manufacturing sector has seen an increase, marking a sharp divergence in the growth trajectory of the two segments.An analysis of the latest unincorporated enterprises survey released last month showed that 3.5 crore people were employed in…
HYDERABAD: The Centre’s push to ensure 10,000 geographical indication (GI)-tagged products by 2030 seems to have moved into a higher gear, with the total number of GI applications finally crossing the 2,000 mark to reach 2,013 as on April 2, 2026.While Kashmir Kagzi Badam was the 2,000th application to be filed on April 2 this…
The Middle East crisis has stretched beyond the one month mark, sending ripples across the globe. While somes nations are hiking fuel prices, others are introducing other measures to cushion consumers from the impact while balancing energy reserves. Pakistan is no stranger to the ongoing energy volitality as the country imports almost 85% of its…
MUMBAI: Months after his exit, former Sir Ratan Tata Trust (SRTT) trustee Mehli Mistry has challenged the positions of Venu Srinivasan and Vijay Singh on the board of the Bai Hirabai Jamsetji Tata Navsari Charitable Institution, arguing they are ineligible under the 1923 deed, which bars non-Zoroastrians and non-Mumbai residents, and has called for an…
MUMBAI: A structural shift is reshaping India’s microfinance sector, with regulated lenders displacing informal sources as borrowing from moneylenders fell to 1% in 2024–25 from 46% in 2011, according to a survey by Microfinance Industry Network and National Council of Applied Economic Research.The survey, which covered 10,342 borrowers across 10 states, shows a maturing market…
MUMBAI: Credit growth continued to outpace deposit mobilisation for Punjab National Bank, Union Bank of India and IDFC FIRST Bank at the end of the March quarter, reflecting sustained loan demand in a tight liquidity environment.Punjab National Bank reported global advances of Rs 12,61,420 crore as of March 31, 2026, up nearly 13% year-onyear, while…
MUMBAI: India’s foreign exchange reserves fell sharply by $10.3 billion in the week ended March 27, 2026, taking the total to $688.1 billion, driven largely by a decline in foreign currency assets and gold holdings amid currency market intervention by RBI.The fall was led by foreign currency assets, which dropped by $6.6 billion. These assets,…
NEW DELHI: Fuel and raw material supply constraints, which have forced shutdowns in certain segments of manufacturing, especially small businesses, may hurt contractual and gig workers.Some signs of strain are visible in certain sectors, including steel, automotive, textiles, pharma, medical devices as fuel supply, input cost and availability (shortage) bite into operations, industry representatives and…