Airfares During Festive Season: Goverment rules out airfare cap during festive season, urges airlines to keep prices reasonable

File photo: Civil aviation minister K Rammohan Naidu (PTI Photo) The government will not impose a cap on airfares during the upcoming festive season but will advise airlines to keep ticket prices at reasonable levels, civil aviation minister K Rammohan Naidu said on Tuesday.Speaking to reporters on the sidelines of the signing of pacts for…

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Gold prices surge 60% from Rs 98,000 to Rs 1.57 lakh per 10 grams in a year; Ganesh Chaturthi sales fall 15% as buyers switch to lighter jewellery, also buy coins

Jewellers remain hopeful that the moderation in demand will prove temporary as the festive calendar progresses. A huge rise in gold prices from the same time last year has led to a drop in gold sales this Ganesh Chaturthi. Gold sales have declined by around 15% year-on-year in volume terms, with consumers either reducing the…

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In major milestone for India’s offshore energy exploration, ONGC strikes gas in Mahanadi Basin, 43 km off Odisha coast; proximity could enable faster monetisation if commercially viable

The discovery was made on September 18 at the MN-DW18-1-H-D well in the Mahanadi Offshore Basin. In a big breakthrough, Oil and Natural Gas Corp (ONGC) has discovered gas in a deepwater well off India’s eastern coast. The find is located close enough to Odisha and may potentially enable quicker development if further appraisal establishes…

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Wife sold soft drink for Rs 26 instead of Rs 25, Re 1 overcharge led to husband facing case for 13 years; Bombay HC quashes prosecution because wife was shop owner

The high court described the prosecution as “misconceived and misdirected”. (Image for representative purpose only) A man working in his wife’s shop faced a thirteen year criminal case for the sale of a cold drink above the maximum retail price. The Bombay High Court has now brought an end to a criminal case that had…

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‘No burden for consumers’: Sitharaman clarifies who will pay MDR on UPI transactions

Finance minister Nirmala Sitharaman Union finance minister Nirmala Sitharaman has backed the recently announced Merchant Discount Rate (MDR), saying that the mechanism will be imposed on operators and will not be passed on to customers. Addressing ongoing speculations around the charges, FM blamed the opposition for creating confusion and urged people to remain alert.Speaking to…

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Stock market today: BSE Sensex jumps over 100 points in opening trade, Nifty 50 trades above 24,400

Indian benchmark indices ended the previous session in green, with Nifty 50 rising 67.90 points, or 0.29%, to 23,414.30, while BSE Sensex gained 564.03 points, or 0.76%, to close at 74,858.99. Easing crude oil prices, lower bond yields and hopes of diplomatic engagement supported investor sentiment. Geojit Investments’ head of research Vinod Nair said that…

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New Zealand trade pact to take effect on Oct 20, to give duty-free access

India-New Zealand trade deal to come into force on Dussehra (representative image) NEW DELHI: The India-New Zealand free trade agreement (FTA) will come into force on Oct 20 (Dusshera), providing duty-free access to 100% of India’s exports, commerce and industry minister Piyush Goyal announced Monday. And, talks with Canada for a comprehensive economic partnership agreement…

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