Business

11

May

By The Press Editor

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Business

‘No shortage of petrol, diesel,’ assures govt after PM Modi’s appeal but calls for ‘efforts to save energy’

New Delhi: Day after Prime Minister Narendra Modi urged people to save fuel, the government on Monday clarified that there is no shortage of petrol or diesel in India, adding that there is no need to panic. However, it maintained that citizens need to conserve fuel because of the heightened global turmoil and the situation in the Middle East where a conflict is underway between the United States (US) and Iran. Speaking at an inter-ministerial briefing over the situation in West Asia, Sujata Sharma, who is Joint Secretary (Marketing and Oil Refinery) at Ministry of Petroleum and Natural Gas, accepted…

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08

May

By The Press Editor

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Business

Did you know this Railway rule? One mistake that can cost you your confirmed train ticket

New Delhi: Lakhs of people travel by Indian Railways every single day. Once a ticket gets confirmed, most travellers assume their seat is fully secured. However, a simple mistake can still cost you your confirmed seat. What is more surprising is that many passengers are unaware of this rule and end up facing inconvenience during their journey. According to railway rules, if a passenger does not board the train from the station mentioned on the ticket, the TTE can mark the seat as vacant. If the passenger does not occupy the seat within the next two stations, the TTE is allowed…

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08

May

By The Press Editor

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Business

Air India resorts to cost-cutting amid high jet fuel prices: Is layoffs also on cards?

New Delhi: Hit by a surge in operational expenses due to the West Asia conflict, Air India has initiated a series of cost-containment steps, pausing annual salary hikes and asking employees to reduce discretionary spending. In a townhall meeting on Friday, CEO and MD Campbell Wilson cautioned the workforce that the year ahead could be "very, very difficult" unless external conditions improve. During the interaction with staff, Wilson, Chief Financial Officer Sanjay Sharma and Chief Human Resources Officer Ravindra Kumar GP stressed the urgent need to curb non-essential expenditure. Sharma explained that FY26 has already seen revenue soften due to…

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06

May

By The Press Editor

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Business

DA hike announced for govt employees of this state, check how much salary increased for them

Itanagar: In a piece of good news for the government employees of Arunachal Pradesh, the state government on Wednesday announced a hike in dearness allowance (DA) for serving employees and dearness relief (DR) for pensioners by 2 per cent, raising the rate to 60 per cent of basic pay/pension. The enhancement of DA and DR will be effective January 1, 2026, a statement from the Chief Minister's Office (CMO) said. The enhanced DA will apply to All India Service Officers serving under the Arunachal Pradesh government, central government employees on deputation to the state government, and all regular state government…

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06

May

By The Press Editor

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Business

Food vendor overcharging on train? Here’s what IRCTC rules say you can do

New Delhi: Passengers often buy food and beverages from vendors while travelling on trains. However, there are frequent complaints that vendors charge more than the fixed prices. In such situations, passengers are often unsure about what to do or where to complain. If you have faced this issue, there's no need to worry. Indian Railways and Indian Railway Catering and Tourism Corporation (IRCTC) have laid down clear rules to protect passengers' rights. Knowing these rules can help you avoid overcharging and take action when necessary. According to IRCTC guidelines, all food and beverage items on trains must be sold at…

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06

May

By The Press Editor

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Business

Govt clears Rs 5,000 crore emergency credit scheme for airlines amid jet fuel price surge

New Delhi: In view of the West Asia situation, the government has announced a clearing of Rs 5,000 crore emergency credit line scheme to airlines amid the jet fuel price surge, the Ministry of Civil Aviation said in a statement on Wednesday. Notably, the Iran war has led to a sharp hike in operating costs along with a decrease in passenger numbers.  The Union Cabinet, chaired by Prime Minister Narendra Modi, on Tuesday approved the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0, providing targeted financial relief to airlines grappling with a sharp increase in Aviation Turbine Fuel (ATF) prices and global disruptions.  ECLGS…

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06

May

By The Press Editor

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Business

Sensex surges 940.73 points to settle at 77,958.52, Nifty above 24,300, Indigo among top gainers

Mumbai: Indian benchmark indices witnessed a strong rally on Wednesday. Riding on global cues, the market rebounded strongly, bringing investors a welcome boost. News of a possible peace agreement between the United States and Iran created a positive market sentiment, pushing the Sensex nearly 1,000 points higher and the Nifty crossing 24,300. At the end of trading, the Sensex gained 940,73 points to close at 77,958.53. The Nifty also jumped 298.15 points to reach near 24,330.95. The market witnessed widespread buying, with approximately 2,755 stocks advancing while 1,287 stocks declined. "The markets staged a strong rebound, with Nifty closing above…

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06

May

By The Press Editor

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Business

Big relief for homebuyers as UP RERA caps flat transfer fee at Rs 1,000 for legal heirs: Details

Lucknow: In a major relief to homebuyers in Uttar Pradesh, the Uttar Pradesh Real Estate Regulatory Authority (UP RERA) (UP RERA) has fixed a maximum fee of Rs 1,000 for transfer of flats to legal heirs in case of death of the original allottee. UP RERA Chairman Sanjay Bhoosreddy said that developers or promoters will now be required to transfer the flat, by default, to the spouse, son, or daughter of the deceased allottee on payment of a nominal processing fee of Rs 1,000. According to Bhoosreddy, the authority had received several complaints regarding builders charging arbitrary fees. There were…

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06

May

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Business

Larsen & Toubro bags its largest-ever order in domestic metals sector, shares end in red

Mumbai: India's leading infrastructure company, Larsen & Toubro (L&T), has bagged a major contract from JSW Steel. The value of the contract is estimated to be between Rs 10,000 - Rs 15,000 crore. Larsen & Toubro stated in an exchange filing on Wednesday that it has won a 'mega' deal. "The Minerals & Metals (M&M) business vertical of L&T has secured its largest-ever order in the domestic metals sector – awarded by JSW Steel," the company said in an exchange filing.  Through this deal, JSW Steel is moving towards expanding its crude steel processing capacity from 35 million tonnes…

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06

May

By The Press Editor

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Business

Rs 270 interim dividend: Stock to trade ex-date soon, last change to be eligible for corporate action

Mumbai: Shares of Oracle Financial Services Software are in focus as they will trade ex-date for the interim dividend soon. According to the information shared, the board of directors of the company has declared an interim dividend of Rs 270 per equity share of face value of Rs 5 each for the financial year 2025-26. Earlier, the company had announced an interim dividend of Rs 130 for the ex-date of November 3, 2025. It must be noted that investors must hold the stock on or before the ex-date to be eligible for a corporate action. Oracle Financial Services Software Dividend…

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