New Delhi

Cabinet approves Rs 22,594-cr expansion of Numaligarh refinery

The Cabinet on Wednesday approved a Rs 22,594-crore expansion of Numaligarh refinery in Assam for increasing the capacity by 6 million tonnes per annum to meet the fuel demand of north-eastern India.

The government will provide a Rs 1,020 crore viability gap funding for the project, said Coal and Railway Minister Piyush Goyal in a news briefing on Cabinet decisions.

Jet Air stock tanks amid bailout talks

Jet Airways said on Wednesday it is in talks with its lenders for a comprehensive resolution plan, amid increasing prospects of a bailout by major shareholder Etihad Airways.

India poised for growth; space for 100 bps rate cut over time: Sanyal

After a brief disruption from oil price hike, high US interest rates and NBFC rollover problems, India is poised for accelerated growth from November onwards and has the potential to hit 7.3 per cent expansion rate and retain the fastest growing economy tag even in the next fiscal, Sanjiv Sanyal, (in pic) principal economic advisor in the ministry of financé, has said.

New twist to Essar tale, SBI seeks to sell Rs 15K cr bad loans

Adding a fresh twist to the tale, the lead banker in the committee of creditors (CoC) overseeing the Essar Steel insolvency resolution process has decided to recover its share of dues from the steel maker by initiating a separate recovery process outside the Insolvency and Bankruptcy Code (IBC).

RBI to inject Rs 0K crore through open market operations this week

The Reserve Bank of India (RBI) on Tuesday said it would inject Rs 10,000 crore into the system through purchase of government securities on January 17 to increase liquidity.

The purchase will be made through open market operations (OMOs).

"Based on an assessment of prevailing liquidity conditions and also of the durable liquidity needs going forward, the RBI has decided to conduct purchase of ... Government securities under OMOs for an aggregate amount of Rs 100 billion on January 17, 2019," the central bank said in a statement.

Volkswagen to contest NGT fine of Rs 171.34 cr

A four-member committee formed by the National Green Tribunal has recommended Rs 171.34 crore fine on German auto major Volkswagen as "health damages" for causing air pollution in Delhi due to excess nitrogen oxide (NOx) emissions.

White is the most preferred car colour in India

When it comes to car colours, white is the most-preferred choice for many Indian consumers with 43 per cent of them opting for the tone in 2018, according to a report by global paints major BASF.

According to the 'BASF Color Report for Automotive OEM Coatings' by BASF's Coatings Division, the other two most popular car colours last year were grey and silver with each finding preferences of 15 per cent of buyers. Red with 9 per cent was the other popular colour, followed by blue at 7 per cent, while black had just 3 per cent buyers.

BoB may get Rs 7,000-8,000 cr ahead of merger rollout

Bank of Baroda (BoB) expects to receive Rs 7,000 crore-Rs 8,000 crore from the government in the next phase of bank recapitalisation, a top banking source said on Tuesday.

The state-run lender would require this capital to take over Dena Bank, which is currently reeling under the Reserve Bank prompt corrective action, the source added.

Bank of Baroda already requested for fund infusion when its merger with other two public sector banks —Dena Bank and Vijaya Bank — was announced in November, the source mentioned.