New Delhi, April 23 (IANS) Indian oil marketing companies (OMCs) have begun relying on their commercial crude inventories as supply chains tighten following the closure of the Strait of Hormuz amid escalating geopolitical tensions in West Asia, according to a report on Thursday.The disruption linked to the ongoing US-Israel conflict involving Iran has constrained supplies from the Gulf region, while sharply increasing freight charges, insurance premiums and transit durations, NDTV Profit reporte…
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New Delhi, April 21 (IANS) The government is preparing to roll out an expanded version of the India Semiconductor Mission ‘ISM 2.0’ likely by May, with a proposed outlay ranging between Rs 1 lakh crore and Rs 1.2 lakh crore.According to the NDTV Profit report, inter-ministerial consultations are currently underway, while the Ministry of Electronics and Information Technology (MeitY) is awaiting final approval from the Finance Ministry.The proposed allocation is significantly higher than the Rs 7…
New Delhi, April 18 (IANS) HDFC Bank on Saturday said the process for re-appointing its Managing Director and CEO Sashidhar Jagdishan will be taken up ‘in due course’, with the bank’s nomination and remuneration committee (NRC) currently seized of the matter.Responding to a query by NDTV Profit, Deputy Managing Director Kaizad Bharucha said the committee will take a final call on Jagdishan’s reappointment at an appropriate time.Jagdishan’s current tenure is set to end in October 2026.M…
New Delhi, April 16 (IANS) The National Council–Joint Consultative Machinery (NC-JCM) has proposed a steep uplift for minimum pay of central government employees in its common memorandum to the 8th Pay Commission, one month’s wages as gratuity and other benefits.NC-JCM, the apex body of communication between the central government (as employer) and its employees, proposed a fitment factor of 3.833, raising the minimum basic from Rs 18,000 under the 7th Pay Commission to Rs 69,000, the report f…
New Delhi, April 15 (IANS) The Centre is reportedly considering a new fuel price stabilisation mechanism aimed at protecting consumers from sharp fluctuations in petrol, diesel and LPG prices amid rising global energy volatility.The proposal, which is currently under discussion among key ministries, seeks to establish a dedicated buffer system that can be deployed during periods of extreme price swings, according to NDTV Profit report.The move comes as geopolitical tensions in West Asia continue…
New Delhi, April 7 (IANS) Millions of Central government employees and pensioners await the outcome of the drafting committee of the National Council (Joint Consultative Machinery) on April 13 to get cues on the 8th Pay Commission salary revision, a report said on Tuesday.The drafting committee meeting scheduled for 11:00 am at the JP Choubey Memorial Library (AIRF office premises) here will review a final common memorandum and discuss pay scale revisions, annual increments, allowances and other…
New Delhi, April 4 (IANS) Amid rising global supply concerns due to disruptions in the Strait of Hormuz, India has emerged as one of the countries maintaining steady maritime movement through the crucial route. Despite tensions triggered by the ongoing conflict involving the United States, Israel, and Iran, several Indian vessels have successfully navigated the narrow passage, which is vital for global oil and gas trade.Since February 28, at least eight Indian-linked ships have crossed the Strai…
New Delhi, April 4 (IANS) The new labour codes have changed gratuity rules, allowing certain eligible employees to claim gratuity after one year of continuous service, cut down from the erstwhile rule of five-year period. The new labour codes implemented in November 2025, makes gratuity available sooner for fixed-term and contract workers on a pro rata basis. Permanent employees still need to complete five years of service to claim gratuity, while there are exceptions in case of death or disabil…
New Delhi, March 27 (IANS) Major drug maker Dr. Reddy’s Laboratories on Friday told the Delhi High Court that it will change the brand name of its semaglutide drug from ‘Olymviq’ to ‘Olymra’, a report said on Friday.The company informed the court that it would propose a new brand name following the judge’s observation that the existing name could lead to confusion in a pharmaceutical setting.The dispute comes as India opens up to generic versions of semaglutide following patent expiry, trigg…
New Delhi, March 25 (IANS) A major financial irregularity has come to light in Haryana, where the Panchkula Municipal Corporation has found discrepancies of over Rs 150 crore in its fixed deposits with Kotak Mahindra Bank. The development comes just a month after a Rs 590-crore fraud was reported at the Chandigarh branch of IDFC First Bank.According to NDTV Profit report, the civic body had invested funds in fixed deposit receipts (FDRs) at the bank’s Sector 11 branch.However, the issue surfac…