Industry Odisha Bureau, May 19: Justifying the hikes in the prices of petrol and diesel being effected of late including today, the Government of India (GoI) has reportedly argued that the state-owned Oil Marketing Companies (OMCs) have lessened their cumulative daily losses to Rs 750 crore from Rs 1,000 crore soon after the first hike of Rs 3 per litre in the prices of petrol and diesel imposed on May 15, but the losses still remain significantly under-recovered. Petroleum Ministry Joint Secretary Sujata Sharma in her media reactions yesterday reportedly said, “The cumulative daily loss of the three OMCs—Indian Oil…
Author: Industry Odisha
Industry Odisha Bureau, May 18: Even though India has already implemented a nationwide “E20 Petrol Mandate” by blending 20 per cent ethanol with petrol to enhance energy security, reduce emissions, and support India’s sugarcane farmers, the unresolved West Asia crisis further aggravated by the Hormuz hurdle-triggered disruptions of crude oil supply chain has compelled India’s ethanol push to accelerate its Ethanol Blending Programme (EBP) to ‘E85’ and ‘E100’ in near future. As the age-old adage “Necessity is the mother of invention”goes, Brazil, globally acclaimed as ‘Sugar Paradise’, reportedly stole the show by calling the shots in “promoting ethanol production from…
Industry Odisha Bureau, May 18: To reach out more number of people and create financial awareness to investors, the Securities and Exchange Board of India (SEBI) is all set to open its office in Bhubaneswar very shortly. This was announced by SEBI Chairman Tuhin Kanta Pandey here on Monday. Pandey said the rental agreement to open the SEBI office will be signed today while permanent building of the office will be constructed very soon. Addressing an Investor Awareness Program here, Pandey said Odisha’s strong economic performance is reflected in rising market participation from the state, though significant potential remains untapped.…
Industry Odisha Bureau, May 18: The official visit of the Indian Prime Minister to Norway today reportedly after a long gap of 43 years is believed to prop up a ‘green strategic partnership’ as well as other bilaterial ties. As per media reports, Norway, being a major energy producer, is keen on sharing its ample technologies with India in the sectors of ‘renwable energy’, ‘green maritime solutions’ and ‘sustainable development’. Reportably, India has a ‘green strategic partnership’ only with Denmark. According to media reports quoting the Ministry of External Affairs (MEA), “The visit will provide an opportunity to review the…
Industry Odisha Bureau, May 18: In a bid to prop up loan growth since the volume of deposits is reportedly lagging behind, the public sector banks (PSBs) are reportedly opting for using their respective ‘surplus liquidity (funds)’ already available with them along with borrowing ‘short-term loans’ from the Reserve Bank of India (RBI). Notably, “The RBI lays stress on maintaining a minimum percentage of a commercial bank’s ‘Net Demand and Time Liabilities’ (NDTL) in the form of liquid assets like gold, cash and government-approved securities referred as Statutory Liquidity Ratio (SLR). SLR is mandated by the RBI to ensure liquidity,…
Industry Odisha Bureau, May 18: Despite having enhanced renewable energy (especially solar/wind power) usage, India still reportedly lacks in the long-durataion storage facilities for which the Government of India (GoI) is reportedly gearing up for implementing a scheme named ‘Long-Duration Energy Strorage (LDES)’. Such a move is reportedly being initiated because the Indian grid system’s current capability is said to be limited to manage the renewable power system and supply it seamlessly for the use of consumers during the ‘non-solar’ and ‘non-wind’ periods. Efforts are reportedly on by the Ministry of Power under the “India Battery Storage Vision 2047” to…
Industry Odisha Bureau, May 17: London-headquartred British multinational insurance giant Prudential Plc is reportedly going to gain three-fourth (75 per cent) stake in India-based Bharti Life insurance company in accordance with a formal deal inked between the two entitiesIndustary Reportedly issuing official statement today, Bharti Enterprises informed media that “Prudential has agreed to buy 75 per cent stake in Bharti Life”, while Prudential in its press statement reportedly said that “the initial transaction is valued at Rs 3,500 crore with a potential additional payout of Rs 700 crore.” In his reactions, Prudential Plc chief executive officer (CEO) Anil Wadhwani reportedly…
Industry Odisha Bureau, May 17: The Government of Netherlands has eventually returned India’s histrorically noteworthy 11th century artefacts – the ‘Chola Copper Plates’ – that reportedly lied there in a university for over 300 years. The precious property was formally restored back to bona fide owner India yesterday at a formal ceremony graced by Netherlands Prime Minister Rob Jetten and his Indian counterpart Narendra Modi as evident from the latter’s post on his official social media X handle. Reportedly, “weighing around 30 kg, the 21 copper plates belonging to the 11th Chola Dynasty, are bound together by a bronze ring…
Industry Odisha Bureau, May 17: Gurudev Rabindranath Tagore is revered with high esteem not only in India and Bangladesh for being their ‘national poet’, but also adored by the people of Sweden (Swedes) after creating history adorned with the most prestigoius ‘Nobel Prize in Literature’ in 1913 despite being a first-ever non-European literary giant as well as a personality from the then British India. Thus, it was akin to the world-renowned Latin phrase ‘veni, vidi, vici’ (I came, I saw, I conquered) on the part of the ‘Bard of Bengal’ who still rules the heads and hearts of the Swedes.…
Industry Odisha Bureau, May 16: Odisha’s Debrigarh Sanctuary emerges as a new breeding ground in India for the rare & endangered “Indian Dholes” (Asiatic Wild Dogs or Balua Kukura in Odia), officials said on Saturday. Debrigarh Wildlife Sanctuary has recorded a significant conservation gain with successful breeding of Dholes and the sighting of a litter with two pups. Breeding has been observed in the pair that has gradually established movement within the Sanctuary over the past two years, said Anshu Pragyan Das, DFO Hirakud wildlife division. The birth of the pups indicates favourable habitat conditions, ensured protection, adequate prey availability…