State-owned oil companies are moderating the price of cooking gas, returning to the time when they took the subsidy burden of petroleum products.
More on this and other top headlines of the day
Superseding boards of two Srei companies not to roil markets, say bankers
Superseding the boards of two non-banking financial companies (NBFCs) in the
Srei group will neither create liquidity challenges for sound entities, nor build systemic crises because the markets have factored in the problems with the Kolkata-based firms.
Such regulatory steps will help in making the NBFC space more robust, bankers and market experts said.
Read more Corporate frauds likely to spike in post-Covid set-up, says survey
Largescale remote working arrangements and cash flow crunch, leading to business operations taking a priority over compliance during the pandemic, could lead to a rise in frauds, a survey on how independent directors perceive
corporate fraud has found.
Read more Major OMCs step off LPG price-hike pedal; absorb Rs 100 per cylinder
Public-sector oil-marketing companies (OMCs) are moderating the price of cooking gas in a bid to maintain affordability effectively, harking back to the days when they were bearing the subsidy burden of petroleum products.
According to executives in the know, IndianOil, Hindustan Petroleum, and Bharat Petroleum are holding back liquefied petroleum gas (LPG) price hikes by around Rs 100 for a 14.2-kilogram domestic cylinder.
Read more Future Retail, 7-Eleven terminate franchise agreement
Financially troubled, Future Retail and Texas-based convenience store chain, 7-Eleven have today decided to mutually terminate their franchise agreement after the Kishore Biyani company failed to meet the target of opening stores and payment of franchise fees.
In a statement to the stock exchanges, Future Retail said no financial or business impact on the company is expected as the arrangement was at the subsidiary company level.
Read more Chinese air force still present in three bases in Tibet: Air Chief
Air Chief Marshal Vivek Ram Chaudhari (pictured) on Tuesday said the Chinese air force is still present in three air bases in Tibet. Addressing the media five days into his tenure as the chief of the Indian Air Force (IAF), Chaudhari painted a reassuring picture of an air force that, despite being low on numbers, is equipped, trained and poised to handle Chinese aggression on the borders.
Read more
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU