More than 5.87 lakh farmers have been mobilised under the 'Formation & Promotion of 10,000 Farmer Producer Organisations (FPOs)' scheme launched in February 2020 with equity contribution by farmer members amounting to Rs 36.82 crore, the Centre announced on Thursday.

Stating that the FPOs have started business transactions, the government said, As many as 84 FPOs of 14 Cluster Based Business Organisations (CBBOs) have made transactions worth Rs 928.28 lakh and 12 FPOs of three CBBOs of NAFED have made transactions worth Rs 48.35 lakh.

Delhi government on Thursday announced that the precautionary or the booster COVID-19 dose will be available for free to all eligible beneficiaries aged between 18 and 59 years in all government vaccination centres.

This comes after the national capital witnessed a sharp rise in the coronavirus cases.

Shares of Angel One climbed 18 per cent while that of ICICI Securities dropped 5 per cent, on Thursday, as investors reacted to the March quarter earnings posted by both brokerages. Angel One, a discount broking firm, posted a net profit of Rs 205 crore, which was double of what they had earned in the same period last year. The number surpassed Street estimates of Rs 175 crore as the broker’s revenue grew 64 per cent year-on-year (YoY) to Rs 671.2 crore.

With an 18.1 per cent surge, Angel One saw its stock end the day at Rs 1,918.7, valuing the company at Rs 15,910 crore.

Their bruising battle for control of a bankrupt Indian retailer isn’t over yet, and two of the world’s richest men are already heading for a second round in their contest — this time on the cricket field.

Mukesh Ambani, the petrochemicals and telecommunications tycoon, is expected to vie for broadcast and streaming rights of the Indian Premier League via his flagship Reliance Industries Ltd.,

Finance Minister Nirmala Sitharaman has said there is an urgent need for coordinated action among nations to enable a swift economic recovery post the Covid-19 pandemic, and also to build resilience to future shocks.

Speaking at the G20 Emerging Market Economies (EMEs) meeting in Washington DC on Tuesday night, Sitharaman shared her insights on the economic outlook, risks, and near-term policy challenges such as food and energy security and the tightening of global financial conditions.

India risks a repeat of last summer’s power outages as soaring temperatures boost demand for coal that’s used to generate about 70 per cent of the country’s electricity.

The hottest March in more than a century has heralded an early start to summer, increasing power consumption by air conditioners and refrigerators.

India’s general government fiscal deficit (states and Centre combined) has been projected at 9.9 per cent of GDP for FY23 as rising energy and food prices will put renewed pressure on the fiscal gap, the International Monetary Fund (IMF) said in its report.

With renewed uncertainty on the back of the Russia-Ukraine war, commodity markets have been disrupted fuelling inflation. Governments globally will have to shape their responses against the backdrop of increasing inflation, slowdown in growth, high debt and tightening credit conditions, the IMF said in its fiscal monitor report.

The latest norms concerning large exposures, additional disclosures, and lending to directors laid down by the Reserve Bank of India (RBI) for non-banking financial companies (NBFCs) are in line with its stated objective of narrowing the regulatory arbitrage between banks and shadow banks, observed industry insiders, adding it would be broadly non-disruptive in nature for the sector.

On Tuesday, the central bank mandated exposure limits for NBFCs in the upper layer, in line with commercial banks, by capping their aggregate exposure towards one entity at 20 per cent of capital base, extendable by another 5 per cent with board approval.

India will provide an additional $500 million in financial assistance to Sri Lanka for it to buy fuel, Sri Lanka’s foreign minister told reporters on Wednesday, adding Bangladesh was also willing to postpone a $450 million in swap repayments.

"Assistance by the IMF will take about six months to come to us and it will come in tranches," Sri Lankan Foreign Minister GL Peiris (pictured) said. "During the intervening period, we need to find funds to keep our people supplied with essentials."

The rupee appreciated 19 paise to 76.31 against the US dollar in opening trade on Wednesday, tracking positive trends among Asian and emerging market currencies.

At the interbank foreign exchange, the rupee opened at 76.41 against the American dollar, then gained further ground to quote at 76.31, registering a rise of 19 paise from the last close.

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