Tuesday, August 25
India’s foreign exchange reserves rose by $1.68 billion to $688.94 billion during the week ended December 12, data released by the Reserve Bank of India (RBI) showed on Friday. The rise was mainly supported by an increase in gold holdings and marginal gains in foreign currency assets.Foreign currency assets (FCAs), the largest component of the forex kitty, increased by $0.91 billion to $557.79 billion during the week. FCAs include the effect of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.India’s gold reserves rose sharply by $0.76 billion, taking the total gold holdings to $107.74 billion. The steady rise in gold reserves reflects the central bank’s strategy of diversifying assets amid global uncertainty.Special Drawing Right
New Delhi: Competition Commission Chairperson Ravneet Kaur on Friday said that based on the initial assessment, the fair trade regulator has decided to look into IndiGo operations after recent flight disruptions, which severely impacted passengers across the country.A series of flight disruptions by IndiGo, earlier in the month, created chaos at airports and also dented the image of the country's aviation sector.Kaur told PTI that based on specific information, the commission on its initial assessment decided to further look into the matter."We have information which has come to us, and based on that information, the matter was placed before the commission. The commission has taken a view that in the initial assessment, it looks like we can go into further detail," Kaur said.When asked if
Mumbai: Shree Cement on Friday announced a Rs 2,000 crore investment in Maharashtra's Vidarbha region to set up a 2 million tonnes per annum (MTPA) cement manufacturing unit.The new investment will be part of the group's three-year plan to take its overall capacity to 80 MTPA from the present 68 MTPA, a top official said.Hari Bangur, the chairman of Shree Cement, said the group has had a long-standing association with the western Indian state, which includes a grinding unit in Pune, which is running successfully.It is planning to put up a plant in Chandrapur district's Kondala and also signed a letter of intent for the proposed investment in the presence of Maharashtra's Chief Minister Devendra Fadnavis, Bangur said, listing out progress on the plan."Land is almost taken, ToR (terms of ref
