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food inflation. Pralhad V Joshi, minister for consumer affairs, food, public distribution, new and renewable energy, said that this phase-2 of retail sale of subsidized Bharat Atta and Bharat Rice is done to stabilize the high prices of rise and atta in the market and is a temporary market intervention. «The MSP (minimum support price) has also been hiked twice in a year,” he told newspersons. The phase-2 allocation for rice has been around 2,91,738 metric tonnes, and for atta has been 3,69,947 metric tonnes. The distribution in the first phase, between October 2023 to June 2024, was 15.20 lakh tonnes of wheat flour and 14.58 lakh tonnes of rice. The phase-1 rates were Rs 27.5 per kg for wheat flour and Rs 29 per kg for rice.

Jawaharlal Nehru Port Authority (JNPA) on Tuesday said container traffic at its port rose 11.86 per cent year-on-year to 6,14,651 TEUs (twenty-foot equivalent units) in October. The port had handled a total of 5,49,487 TEUs of containers in October last year, it added. In the previous month, it handled 7.62 million tonnes of total cargo, 2.26 per cent more compared to the total cargo handled in October 2023. In October 2024, the port said, it handled 562 container rakes and 88,224 TEUs compared to 555 rakes and 88,412 TEUs in the year-ago period.

Garuda Aerospace has signed an initial pact with agri-tech solutions provider CYOL to launch its operations in Sri Lanka, a statement said on Tuesday. This agreement marks a major milestone in both companies' growth as they expand their operations into Australia, Africa, and Asia, Garuda Aerospace said in the statement. Garuda Aerospace will collaborate with CYOL to deliver solutions for farming and technology integration, the statement said. As part of this partnership, Garuda Aerospace has officially launched its operations in Sri Lanka, further solidifying its presence in South Asia, it stated. Garuda Aerospace offers its drone solutions for various areas such as agriculture, surveillance, mapping, thermography, videography, and defence anti-drone systems,

NCLAT. IL&FS is in the process of recovering approximately Rs 187 crore from the directors and independent directors of the previous board, during whose tenure the company and its two subsidiaries — IFIN and ITNL- were shown in profit through financial engineering, though they were in loss. Earlier this year, books of accounts and financial statements of IL&FS, IFIN and ITNL were recast on the directions of the National Company Law Tribunal (NCLT) for five years — FY 2013-14 to FY 2017-18- and a loss of around Rs 9,600 crore was found. Originally, a profit of Rs 1,869 crore was shown by the previous company management and board, which the government later superseded following revelations of irregularities that shook India's financial sector.

«This is a temporary intervention to provide relief to consumers,» Food Minister Pralhad Joshi said after flagging off the mobile vans of these cooperatives. The government has allocated 3.69 lakh tonne of wheat and 2.91 lakh tonne of rice from the Food Corporation of India (FCI) for the phase-2 retail intervention under the Price Stabilisation Fund.

Virat Kohli turned 36 on Tuesday. With a stellar career spanning over 15 years, Virat Kohli has cemented his position as one of the greatest cricketers of all time. His impressive records and numerous awards are a testament to his dedication and hard work. Let's dive into his impressive records and achievements across all formats. From the days of a being a young, spike-haired prodigy who led India to an iconic ICC U19 World Cup title win at Kuala Lumpur to 2008, Virat has proven himself to be an epitome of consistency, hardwork, top-level fitness, dedication, aggression and various other traits a top-class sportsperson would have.

Venice Film Festival, where Kidman won the Best Actress prize.

health claims associated with supplements will be under stricter scrutiny as a government panel proposes to shift it under the control of drug regulator instead of Foods Safety and Standards Authority of India (FSSAI). The expert panel was earlier formed to look into addressing the overlapping concerns between nutraceuticals and drugs. People in the know told ET that the panel has proposed that the claims related to cure or promise to mitigate disease disorder or condition including disease risk reduction (DRR) shall be regulated by the Central Drugs Standard Control Organisation (CDSCO). «The DRR claims or products having properties for treatment of a disease shall not be approved under FSS,» said a source, sharing that a report has been sent to the health ministry, drug regulatory authority and FSSAI. Another person said that the same has been proposed to strengthen the regulatory mechanism for claims. «The DRR claims are widely used by manufacturers without approvals. These claims are also manipulated in such a way that mimics treatment cure of any specific disease,» he said.

Novel Jewels, the jewellery business vertical of Aditya Birla Group, is planning to open 100 stores across India in the next 18 months with an investment of '5,000 crore, its chief executive Sandeep Kohli said. Besides owned stores, the company also plans to look at franchisee models, Kohli told ET in an exclusive interaction. «We've already got a huge unsolicited kind of response from people wanting to be our franchisees. So we will very soon roll that model out,» he said. Novel Jewels, which owns the Indriya jewellery brand, hopes to cash in on the increasing trend of jewellery consumption moving from the unorganised sector to branded players.

Michael Patra at the Reserve Bank of India (RBI). Patra's extended term ends in January. Applicants need to have at least 25 years of work experience in public administration or similar years of experience in Indian or international public financial institutions. Interestingly, no economics degree or experience has been made mandatory though as the head of the crucial monetary policy department, this post oversees the department of statistics, department of economic policy, and research and financial market operations and regulations. Patra has been one of the four deputy governors in the RBI for close to six years. He is on his second one-year extension which will end in January 2025.

The fully electric motorcycle — available for retail in the spring of 2026 — will be priced at a premium to electric scooters available in the market today. The company is yet to decide on the country in which it will launch the vehicle sometime in the next fiscal year, but said it will be the first of many products which will be introduced under the Flying Flea brand. Siddhartha Lal, Managing Director, Eicher Motors, said, “We believe in this as a starting point of a family, that is going to grow. We are going to keep at it as we go doggedly…keep evolving, keep changing but with this concept and idea in mind." The company will also introduce EVs under Royal Enfield brand, Lal clarified.

business, banks are setting up a high-level committee to escalate the issue with the government and other stakeholders, said people familiar with the matter. Banks are particularly concerned at the two-year window proposed for compliance, which they feel is very short as many of their subsidiaries are listed. In a meeting held last month, banks decided to form the committee for engaging on the issue, the people said. The Reserve Bank of India, or RBI, has sought feedback on its draft circular, Forms of Business and Prudential Regulation for Investments, by November 20.

NFRA) will likely deliberate on the revision of all the 35 standards on auditing (SA)-including the SA600 for which it has issued draft norms-and the issues that have sparked its tussle with the Institute of Chartered Accountants of India (ICAI) in its next board meeting on November 11 and 12, people aware of the development said. NFRA will also seek to review the standards on quality management (SQMs) of audit firms and 16 «consequential» changes in the audit standards, already floated by the ICAI on October 14. The meeting of the 12-member NFRA board is expected to be a stormy affair, as it has three representatives from the ICAI who would push for a pause in the upgrade of the SA600 and also assert the institute's right to issue the SQMs, one of the people told ET.

Revenue secretary Sanjay Malhotra conveyed this at a meeting taken by union finance minister Nirmala Sitharaman to take stock of the progress of the review announced in the Budget. Sitharaman chaired the meeting Monday to assess the progress as the government is looking to introduce the draft bill in the budget session. Apart from Malhotra, the meeting was attended Central Board of Direct Taxes Chairman Ravi Agarwal, and other senior CBDT officials The Department has also received 6,500 suggestion from the public, to simplify the IT law.

Dixon Technologies Tuesday notified incorporation of a wholly-owned subsidiary Dixon Teletech to make components for IT hardware products. The contract manufacturer is setting up facilities to ramp up laptop assembling under the production-linked incentive scheme for IT Hardware, with orders from the top four laptop brands in the country — HP, Lenovo, Acer, and Asus. «The wholly owned subsidiary has been incorporated with an object to undertake manufacturing and dealing in, inter-alia, all kinds of Information Technology Products including Information Technology (IT) hardware components, related products, equipment and components thereof,» the company said in an exchange filing.

Tom Cruise may be unexpectedly reintroducing Nicole Kidman into his life. He may be making a career decision that could have an impact on Nicole Kidman as well, even though it was reported that he made a concerted effort to avoid Kidman during last year's awards season, as quoted in a report by SheKnows. Rewind to 1989, when Kidman and Cruise first appeared together on the Days of Thunder set. Both of them later remarried and moved on after their brief romance came to an end. But given that he is reportedly thinking about starring in a follow-up to the ‘NASCAR’ drama Days of Thunder, Cruise might be bringing the past back. Despite his ex-wife's attachment, it is rumoured that Cruise is thinking about bringing this film back because Mission Impossible appears to be coming to an end, according to a report by SheKnows.

Reserve Bank of India (RBI) on Monday said 98.04 per cent of the Rs 2000 banknotes have been returned to the banking system, and only Rs 6,970 crore worth such notes are still with the public. On May 19, 2023, the RBI announced the withdrawal of Rs 2000 denomination banknotes from circulation. The total value of Rs 2000 banknotes in circulation was Rs 3.56 lakh crore at the close of business on May 19, 2023. It has declined to Rs 6,970 crore at the close of business on October 31, 2024, the RBI said. «Thus, 98.04 per cent of the Rs 2000 banknotes in circulation as on May 19, 2023, has since been returned,» it said in a statement.

KKR India’s Chief Executive Officer Gaurav Trehan has bought a sea view luxury apartment in a super-premium project Morena House on South Mumbai’s plush Carmichael Road for nearly Rs 88 crore from JSW Realty, a real estate development arm of JSW Group. The deal for the apartment, spread over a carpet area of 5,381 sq ft, is valued at around Rs 1.63 lakh per sq ft, making it one of the costliest property transactions in the country. The buyer has also paid Rs 5.26 crore in stamp duty charges alone for the registration of the deal. Apart from being the CEO of KKR India, Trehan is also Co-Head of KKR Asia Pacific and Head of Asia Pacific Private Equity.

Alkomex GBN looks to expand its research and development footprint in India and has roped in nutraceuticals expert Sanjay Agrawal to spearhead its strategic initiatives in the country, a statement said on Monday. Alkomex GBN has formed a partnership with Dr Sanjay Agrawal, a renowned Indian expert in health management and nutraceuticals, and has appointed him as the Scientific Advisor for Alkomex GBN, the statement said. «His leadership will be instrumental in driving our growth as we continue to expand our footprint in the nutraceutical and functional food sectors,» Alkomex CEO Alex Meneses Vega said.

JSW MG Motor India on Monday said it has formed a strategic partnership with HSBC India, which will provide access to comprehensive and tailor-made financing solutions at competitive terms to the car maker's dealer partners. Leveraging HSBC India's expertise will provide easy access to working capital for the company's dealer network, JSW MG Motor India said. With varied and customised financing options on offer, the partnership with HSBC India will enhance operational efficiency, promote business sustainability, and foster long-term growth opportunities for the dealer partners, the company said.

Sales of air purifiers are limited to just 3-4 weeks after Diwali, that too mostly in the Delhi-NCR belt, with the market not even growing for some years which forced some top companies such as Samsung, Voltas, Panasonic, Daikin and Haier to either exit the segment or go “very slow”. Industry executives said consumers do not perceive air purifiers as a product which gives tangible value since they can’t see the effect in real time. Sales happen in Delhi-NCR when there is intense smoggy condition and worsening air quality index (AQI) hits the headlines.