Latest News

Power to proceed against someone appearing guilty must be exercised cautiously: Supreme Court

New Delhi, Jul 16 (PTI) The Supreme Court on Wednesday said the power to proceed against someone appearing guilty of an offence ought to be exercised with “utmost caution” and not as a tool to harass. A bench of Justices Sanjay Karol and Joymalya Bagchi was hearing a case concerning Section 319 of the erstwhile CrPC. Section 319 deals with the power to proceed against persons appearing to be guilty of an offence. The bench said the provision empowered the court to proceed against any person, even if not cited as an accused, based on evidence collected during the inquiry

India’s Russian oil imports up slightly in January-June, data shows

NEW DELHI, July 16 (Reuters) – India’s oil imports from Russia rose marginally in the first half of this year, with private refiners Reliance Industries Ltd and Nayara Energy making almost half of the overall purchases from Moscow, according to data provided by sources. India, the world’s third-largest oil importer and consumer, received about 1.75 million barrels per day of Russian oil in January-June this year, up 1% from a year ago, the data showed. The two private refiners have term deals to buy Russian oil, while state companies rely on purchases from the spot market. India’s purchases of Russian

RBI to ‘wait and watch’ before further rate cuts: Governor Malhotra

New Delhi, Jul 16 (PTI) RBI (Reserve Bank of India) will “wait and watch” the evolving situation before deciding on any further rate cut, Governor Sanjay Malhotra has said as he emphasised that both growth and price stability are equally important. With inflation on a downward trend, the RBI’s Monetary Policy Committee (MPC) has been reducing the benchmark repo rate and has adopted a neutral stance, which also gives the flexibility to either cut or hike the rate going forward. The central bank has cummulatively reduced the repo rate by 100 basis points since February. In an interview to television

State Bank of India launches 250 billion rupee share sale to institutional investors

July 16 (Reuters) – State Bank of India, the country’s largest lender by assets, launched a 250 billion rupee ($2.9 billion) share sale to institutional investors on Wednesday. The so-called floor price of the fundraise is 811.05 rupees per share, a 2.5% discount to the Wednesday’s closing price, according to an exchange filing. In May, the lender approved, raising up to 250 billion rupees through modes including a so-called qualified institutional placement, which is used by listed Indian companies to raise funds from large institutions. Earlier in the day, SBI approved raising up to 200 billion rupees through bonds during

1 … 824 825 826 827 828 … 1,633