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    Cabinet approves revision in cost and investment in equity for HPCL Rajasthan Refinery Limited (HRRL), Pachpadra, District - Balotra, Rajasthan
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April 8, 2026
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Refinery cost revision and equity investment support a greenfield petrochemical complex aimed at energy security and import reduction.
Revision of the project cost for HPCL Rajasthan Refinery Limited at Pachpadra, District Balotra, Rajasthan, has been approved, along with additional equity investment by Hindustan Petroleum Corporation Limited. The project is a 9 MMTPA greenfield refinery-cum-petrochemical complex with 2.4 MMTPA petrochemical production capacity, implemented through a joint venture between HPCL and the Government of Rajasthan. The refinery is intended to support energy and industrial requirements, reduce import dependence, use locally available Mangala crude, and promote India as a refining hub.
April 8, 2026
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Rupee stability and macroeconomic resilience support expectations of steady growth, manageable deficits and appropriate policy rates.
Indian rupee is expected to stabilise around the 92-93 level against the US dollar, after pressure from global uncertainties, geopolitical tensions and foreign institutional investor withdrawals. India's economic resilience, strong macroeconomic fundamentals and fiscal space were described as cushioning the economy against external shocks. The current account deficit was described as remaining manageable, the Reserve Bank of India Monetary Policy Committee's decision to keep policy rates unchanged was described as appropriate, and growth expectations were stated to remain positive.
April 8, 2026
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Monetary policy caution kept the repo rate unchanged as conflict-driven energy and inflation risks weighed on the outlook.
The Reserve Bank of India kept the benchmark repurchase rate unchanged at 5.25 per cent, taking a cautious wait-and-watch stance amid uncertainty over the impact of the West Asia conflict on energy supplies, inflation and growth. The Monetary Policy Committee voted unanimously to retain the status quo, citing higher crude prices, pressure on the rupee and trade disruption.
April 8, 2026
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Monetary policy neutrality and forex stability shape rupee gains as West Asia tensions ease and inflation risks persist.
The rupee strengthened against the US dollar after easing geopolitical tensions in West Asia and supportive domestic market sentiment. The Reserve Bank of India kept the key policy rate unchanged and retained a neutral stance, taking a wait-and-watch approach amid uncertainty over energy supplies, inflation, growth and trade flows. The central bank's projections pointed to higher crude oil prices and a weaker exchange rate in the next financial year.
April 8, 2026
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Natural diamonds celebrated through World Diamond Day as a storytelling campaign on heritage, emotion, and craftsmanship.
The Natural Diamond Council launched World Diamond Day as a global awareness initiative to celebrate the personal, emotional, and heritage value of natural diamonds. The campaign invited artisans, manufacturers, retailers, consumers, and industry stakeholders to share authentic stories about diamonds as symbols of love, milestones, memory, legacy, and craftsmanship. A dedicated toolkit and optional creative assets were made available to participants, while the campaign message emphasised that natural diamonds are timeless heirlooms carrying meaning across generations.
April 8, 2026
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Auto-sweep banking product launches with higher returns on idle balances and anytime liquidity across savings, current and NRO accounts.
CSB Bank launched its Smart Save Account as its first retail offering after upgrading its core banking platform. The product is available in Savings, Current and NRO variants and is designed to improve returns on idle balances while preserving liquidity. It includes an auto-sweep mechanism that transfers surplus funds into fixed deposits, with interest of up to 7% on 13-month sweep-in deposits and no lock-in, so funds remain accessible when needed.
April 8, 2026
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Low interest rates and cautious monetary policy shape the Reserve Bank's stance amid inflation stability and market volatility.
Interest rates are expected to remain low in the medium to long term in view of benign inflationary conditions and strong macroeconomic fundamentals. The Reserve Bank has kept the benchmark repurchase rate unchanged while adopting a cautious wait-and-watch approach to assess the impact of the West Asia conflict on energy supplies, inflation, growth, the rupee and trade flows. Banks have transmitted earlier rate cuts to lending and deposit rates, and currency market steps were said to be temporary measures to curb excessive volatility.
April 8, 2026
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India's GDP growth projection stays resilient despite West Asia conflict, with exports and inflation facing downside risks.
Reserve Bank projected India's GDP growth for the current financial year at 6.9 per cent, noting downside risks from elevated commodity prices, higher energy costs, and supply-chain disruptions linked to the West Asia conflict. Merchandise exports may be affected by shipping, freight and insurance costs, while domestic demand is expected to be supported by services-sector momentum, GST rationalisation, manufacturing capacity utilisation, and healthy financial and corporate balance sheets.
April 8, 2026
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Governance and conduct review found no material concerns in HDFC Bank's supervisory assessment and board review.
The Reserve Bank stated that its supervisory inspection of HDFC Bank did not reveal any governance or conduct-related issues, and that review of the bank's meeting minutes also disclosed no matter of material concern. The RBI reiterated that there were no material concerns on record regarding the bank's conduct or governance, describing HDFC Bank as a Domestic Systemically Important Bank with sound financials, a professionally run board, and a competent management team.
April 8, 2026
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Market rally and unchanged RBI policy follow easing geopolitical stress and a sharp fall in crude oil prices.
Equity markets rallied sharply after a US-Iran ceasefire and a fall in crude oil prices reduced concerns over energy supply disruption and inflation pressure. The Reserve Bank of India kept the benchmark repurchase rate unchanged and maintained a cautious wait-and-watch stance, citing uncertainty from the West Asia conflict, its impact on energy supplies, inflation, growth, the rupee, and trade flows.
April 8, 2026
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Monetary policy stance remains neutral as the policy repo rate is held unchanged amid supply shocks and inflation risks.
The Monetary Policy Committee kept the policy repo rate unchanged at 5.25 per cent, retained the standing deposit facility rate at 5.00 per cent, the marginal standing facility rate and Bank Rate at 5.50 per cent, and continued a neutral stance. The decision was based on resilient domestic growth, contained headline inflation, and heightened uncertainty from geopolitical tensions, supply-chain disruption, energy price pressures, and weather-related risks affecting the inflation and growth outlook.
April 8, 2026
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Personal jurisdiction and extraterritorial reach challenged in SEC fraud action over Indian bond offering and alleged misstatements.
Personal jurisdiction and extraterritorial reach were challenged in a US SEC fraud action arising from an Indian solar-energy bond offering. The defendants argued that the securities were sold outside the United States under Rule 144A and Regulation S, the issuer and alleged conduct were Indian, and the complaint failed to plead a domestic transaction, minimum contacts, or an actionable US nexus. They also denied credible evidence of bribery, asserted no investor losses, and contended that the relied-upon statements were non-actionable corporate puffery.
April 8, 2026
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Monetary policy stance held steady as the RBI weighs energy shocks, inflation risks and growth uncertainty from geopolitical tensions.
The Reserve Bank of India retained the benchmark repurchase rate and the neutral monetary policy stance, adopting a wait-and-watch approach in view of heightened geopolitical uncertainty arising from the West Asia conflict. The central bank assessed the possible effects of disrupted energy supplies, higher crude prices, rupee weakness, supply-chain disruptions and freight-cost pressures on inflation, growth and the current account, while noting that inflation remained within the target band for the time being. It also indicated that the economy faced a supply shock and that the full impact of the conflict would become clearer over the coming months.
April 8, 2026
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Monetary policy remains neutral as the repo rate stays unchanged, with growth and inflation projections set for FY27.
The Reserve Bank's first bi-monthly monetary policy for fiscal 2026-27 kept the repo rate unchanged at 5.25 per cent and retained a neutral monetary policy stance. It projected GDP growth at 6.9 per cent for FY27 and inflation at 4.6 per cent, while noting that the West Asia crisis and elevated energy and commodity prices may weigh on domestic economic activity and production. The Reserve Bank said it would remain proactive in ensuring sufficient liquidity in the banking system.
April 8, 2026
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Retail inflation outlook remains within target as the repo rate stays unchanged amid supply and price pressures.
Retail inflation is projected at 4.6 per cent for the current financial year, within the government-mandated target range. Quarterly CPI-based inflation is estimated at 4 per cent in the first quarter, 4.4 per cent in the second, 5.2 per cent in the third and 4.7 per cent in the fourth, while headline inflation remains contained and below target. The Monetary Policy Committee kept the repo rate unchanged at 5.25 per cent amid geopolitical uncertainty, energy price pressures, weather-related food risks and supply chain dislocations.
April 8, 2026
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School meal partnership expands nutritious mid-day meals through a centralised kitchen, improving classroom attendance and child nutrition.
Deutsche Bank, under its CSR programme in India, partnered with The Akshaya Patra Foundation to inaugurate a centralised kitchen in Pune for the PM POSHAN initiative. The facility is designed to provide hot, nutritious mid-day meals to 25,000 children in 29 government and government-aided schools, supporting classroom attendance, nutrition outcomes, and access to education. The kitchen operates as a food-safe and hygiene-compliant unit with electric meal-delivery vehicles, reflecting environmental sustainability alongside social impact.
April 8, 2026
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GDP growth projection moderates as supply chain disruption, commodity prices and global volatility weigh on domestic outlook.
India's real GDP growth for 2026-27 is projected at 6.9 per cent, with quarterly estimates of 6.8 per cent in Q1, 6.7 per cent in Q2, 7.0 per cent in Q3 and 7.2 per cent in Q4. The projection reflects elevated commodity and energy prices, supply chain disruptions, and higher freight and insurance costs, while domestic demand is supported by services activity, GST rationalisation, manufacturing capacity utilisation, and healthy financial sector and corporate balance sheets.
April 8, 2026
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Repo rate unchanged as inflation pressures and currency movements keep monetary policy in a cautious stance.
Monetary policy retains the repo rate unchanged at 5.25 per cent with a neutral stance amid inflationary and external market pressures. The decision follows concerns arising from disrupted energy supplies, higher crude prices, and import-linked inflation, while headline retail inflation had moved closer to the medium-term target. The inflation framework also reflects a fresh government mandate requiring the central bank to maintain retail inflation at 4 per cent within a tolerance band of 2 per cent on either side for the next five years ending March 2031.
April 8, 2026
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Financial inclusion through PMMY expands collateral-free credit for small entrepreneurs across banks, NBFCs and MFIs.
Pradhan Mantri Mudra Yojana (PMMY) extends collateral-free institutional credit to small and micro entrepreneurs for non-corporate, non-farm income-generating activities, with the objective of funding the unfunded and broadening financial inclusion. The scheme operates through banks, NBFCs and MFIs, and is structured into Shishu, Kishor, Tarun and TarunPlus categories according to the borrower's credit needs. Loan support covers term finance and working capital across manufacturing, trading, service activities and allied agricultural activities, while interest rates are governed by RBI guidelines and repayment terms are flexible.
April 8, 2026
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Competition Commission approval for hospitality sector acquisition and group restructuring through amalgamation and demerger.
Competition Commission approval was granted for the acquisition of certain equity shares in Fleur Hotels Limited by Coastal Cedar Investments B.V. and the internal restructuring of the Lemon Tree Hotels Limited group through amalgamation and demerger. The transaction concerns a hospitality sector structure in which Fleur Hotels Limited is a subsidiary of Lemon Tree Hotels Limited and owns and leases hotels directly and through subsidiaries, while several wholly owned subsidiaries of Lemon Tree Hotels Limited are involved in the restructuring.

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Customs & Trade

Govt says ample stock of fertilisers to meet Kharif demand, no need for panic buying

May 11, 2026

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New Delhi, May 11 (PTI) India has "ample" stocks of fertilisers to meet demand for the upcoming Kharif sowing season, the government said on Monday, as it appealed to farmers not to engage in panic buying.

In an inter-ministerial briefing on recent developments in West Asia, Aparna S Sharma, Additional Secretary in the Department of Fertilizers, informed that the government is importing urea as well as other soil nutrients to supplement domestic production and ensure adequate availability during the upcoming Kharif (summer-sown) season.

The maximum retail prices (MRP) of major fertilisers have remained constant, she said.

Sharma emphasised that the Central and state governments are making efforts to promote the balanced use of fertilisers and curb excessive use. States are taking action to curb hoarding and check the diversion of soil nutrients for commercial use.

"India's fertiliser security remains comfortable and well managed," Sharma said.

The additional secretary informed that "as on date for the season of Kharif 2026, based on the fertiliser requirement that has been assessed by the Department of Agriculture, the stock is more than 51 per cent".

She noted that the stock position is significantly higher than the usual level, which is 33 per cent of the demand.

The Department of Agriculture has assessed the fertiliser requirement for kharif 2026 at 390.54 lakh tonnes.

"So the fertiliser stock is comfortable, and the MRP of major fertiliser remains very much the same," Sharma said.

After the crisis period, she said the domestic production was 76.78 lakh tonnes while imports were 19.94 lakh tonnes.

"So a total of 97 lakh metric tonnes of fertiliser has been added to the availability after the crisis situation," the additional secretary informed.

Elaborating, Sharma said India has secured 7 lakh tonnes of NPK complexes from global sources.

"Further 12 lakh tonnes of DAP (di-ammonium phosphate), 4 lakh tonnes of triple super phosphate, and 3 lakh tonnes of ammonium sulfate have been secured for the country. This will ensure adequate availability for the peak season that will start in about 15-20 days time," she said.

Sharma said an empowered group of secretaries is reviewing the situation on a weekly basis.

Last week, the Department of Fertilizers informed that domestic production for March-April stood at 67.76 lakh tonnes - comprising urea (40.72 lakh tonnes), Di ammonium Phosphate (5.39 lakh tonnes), NPK (13.65 lakh tonnes) and SSP (8 lakh tonnes).

Asked about the price of fertilisers, Sharma said the rate of urea bag is fixed, while the price of DAP right now is at Rs 1,350 per 50 kg bag. The MRPs of other complexes are free.

At present, the MRP of neem-coated Urea is Rs 242 per bag (45kg).

"The government has been promoting balanced use of fertiliser across the country," she said, adding that States have also taken several steps.

States are also making efforts to check diversion and hoarding of fertilisers.

"There has been some panic buying initially. Our appeal is that ample stock is available," Sharma said.

"About 51 per cent of the stock for the season is available. More imports are in pipeline and the production is as per the normal schedule," she said.

Urea plants are running in full steam while P&K (phosphatic and potassic) fertilisers are also being produced in the country.

Regarding the availability of ammonia and sulphur, she said the government is doing its best to ensure the management of surplus ammonia.

She pointed out that the price of some of the fertilisers, like urea, has nearly doubled in the global market.

The government will be clearing subsidy bills in due course to maintain the liquidity of fertiliser companies, the additional secretary said.

In the Budget this year, the Centre projected fertiliser subsidy at Rs 1,70,805 crore for 2026-27. The subsidy bill is likely to rise due to costlier imports.

"Regarding the demand management measures, the state level already efforts are being made, and we have the state level interventions to ensure that the fertilisers are not misused or hoarded, or they are not black-marketed," she said.

That apart, Sharma said the use of alternative fertilisers is already being promoted through agricultural universities and Krishi Vigyan Kendras.

"So the efforts are being made at the state level to ensure that balanced use of fertiliser is done and the excessive use is curtailed," she added.

India's urea production has increased from 225 lakh tonnes during 2014-15 to 306.67 lakh tonnes in 2024-25. The country imported more than 100 lakh tonnes of urea last fiscal to meet local demand. PTI MJH MJH MR

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