Author: Shambhavi Sinha

The oil ministry has proposed raising the age limit as well as reducing the tenure for the new chairman and managing director of ONGC. A vacancy for the chairman at ONGC arose on April 1, 2021, after Shashi Shankar superannuated on March 31, 2021. PESB was unable to find a suitable candidate among the applicants. The oil ministry has proposed pushing the age limit up and reducing the tenure of the new chairman and managing director of ONGC. As per the ministry’s office memorandum sent to the Department of Personnel and Training (DoPT) on June 17, it has been proposed…

The Millath Co-operative Bank’s licence was cancelled by the RBI. All depositors are to receive their money. The RBI cancels karnataka lender Millath Co-operative Bank’s licence. The bank lacked adequate capital and earning prospects, thus being deemed to be adversely affecting the public interest. All depositors are to receive the full amount of their deposits. The Reserve Bank of India (RBI) has cancelled the licence of Millath Co-operative Bank Limited. The bank is based in Davangere, Karnataka. According to the data submitted by the bank, all the depositors will receive the full amount of their deposits from DICGC. Millath Cooperative…

Adani Wilmar slashed the prices of its edible oils by Rs. 10 in the wake of the central government’s decision to reduce import duties on it. Adani Wilmar reduced the MRP of edible oils by Rs. 10. The company’s decision came following the cut in import duty on the commodities. The company desired to share the emerging benefits with their customers. Adani Wilmar is the largest edible oil player, along with being one of the fastest-growing, fast-moving consumer goods companies in the country. In a statement, the company announced reducing edible oil prices by Rs. 10. The Maximum Retail Price…

The Finance Ministry assembled a meeting with banks, insurance firms, and other financial institutions to discuss strategies to support Agniveers post their service. Thus aiming to make the scheme appealing to potential beneficiaries. Banks and financial institutions will strive to provide support with appropriate credit facilities. A special 3-year skill-based bachelor’s degree launched by the MoE. Passed out Agniveers will be given priority in recruitment for various posts. On June 14, the Union Cabinet approved a new recruitment scheme for the armed forces called “Agnipath”. The scheme allows young people to serve in the Armed Forces. Youth selected under this…

In spite of running near maximum capacity, production of gas and diesel still falls short of demand. Market imbalance has provoked high prices and profits, a shift for the typically low-margin refining industry. Biden argues that the lack of refining capacity and resulting unprecedented refinery profit margins are blunting the impact of the historic actions his administration has taken to address Vladimir Putin’s Price Hike and are driving up costs for consumers. Consumer prices have jumped 8.6% over a year, becoming the most drastic increase in more than 40 years. The government is prepared to take the necessary and immediate…

Tata group-owned Air India’s proposal for the complete acquisition of no-frills carrier AirAsia India was accepted by the CCI. On Tuesday, Air India got CCI approval to acquire the entire shareholding in AirAsia India. Tata Sons already holds an 83.67 percent stake in AirAsia India, sharing the rest with Air India Investment Limited. After offering a winning bid last year, the Tatas resumed management control of Air India and Air India Express in January. Through a tweet on Tuesday, the competition regulator, the Competition Commission of India (CCI), announced that it has approved the proposal for Air Asia’s acquisition. They…

Envoy Alipov addressed the highlights of diplomatic relationship between the two countries referring to 75 years of the India-Russia ties. He also talked about future prospects benefiting both countries. Envoy Alipov said that Russia cherishes the mutual and equal friendship between the two nations. As a result of their attack on Ukraine, Russia is facing several economic sanctions from the western superpowers. In the backdrop of the western countries’ leaving, there is an increased scope of opportunities for Indian businesses. Envoy Alipov announced that there are plenty of new opportunities for Indian businesses in the Russian market. This is in…

In Goa, Union Finance Minister Nirmala Sitharaman inaugurated the National Museum of Customs and GST “Dharohar” on Saturday, June 11. FM Sitharam dedicated the National Museum of Customs and GST “Dharohar” to the nation. The opening was part of the Azadi Ka Amrit Mahotsav Iconic Week of the Ministry of Finance. Owing to many features and new initiatives, it is endorsed as a one-of-a-kind experience for tourists. The GST Gallery is the latest incorporation into the Dharohar Museum. Finance Minister Sitharaman on Saturday inaugurated the National Museum of Customs and GST “Dharohar” in Goa, dedicating it to the nation. The…

PM Modi inaugurated the headquarters of IN-SPACe at Bopal. He talks about plans for the private sector and the future prospects. On June 10, PM Modi inaugurated the headquarters of the Indian National Space Promotion and Authorisation Centre (IN-SPACe) at Bopal, Ahmedabad. IN-SPACe aims to support both the government and private sector to be established in the space industry through facilitation and promotion. In his speech, PM Modi highlights the importance of reducing restrictions to encourage growth. On Friday June 10, PM Modi inaugurated the headquarters of the Indian National Space Promotion and Authorisation Centre (IN-SPACe) at Bopal, Ahmedabad. Union…

In a ground-breaking feat, for the first time, multiple new systems with brown dwarf companions on wide orbital separations have been announced in one go. A team of researchers led by Mariangela Bonavita and Clémence Fontanive directly imaged four new brown dwarfs. The Study is recently published in the journal Monthly Notices of the Royal Astronomical Society MNRAS. Innovative technique of observing only stars that show indications of an additional object in their system was used. Brown dwarfs are mysterious astronomical objects that straddle the line between stars and planets. Thus, filling the gap between the heaviest planets and the…