India cannot become fully digital if all transactions remain free of cost: RBI former exec director

Mumbai, The country cannot become fully digital if it continues to offer all transactions free of cost, said G Padmanabhan, former executive director of the Reserve Bank of India. Speaking at a webinar organised by Electronic Payment and Services (EPS), a retail banking technology service provider, he said that for digital transactions to really zoom…

Iran, Iraq Discuss Oil Cooperation

Iranian Oil Minister Bijan Namdar Zangeneh and his Iraqi counterpart Ihsan Abdul Jabbar discussed ways to promote cooperation between the two neighbors in the oil industry.In a telephone conversation, Zangeneh and Abdul Jabbar called for the expansion of oil cooperation between the two Muslim neighbors. The Iranian minister congratulated Abdul Jabbar on taking office as…

Russian sovereign fund chief says no point extending OPEC+ cuts

With global economies and oil demand recovering, there is no point in extending oil output cuts led by the Organization of the Petroleum Exporting Countries (OPEC) and other producers, Kirill Dmitriev, head of Russia’s sovereign wealth fund RDIF, told RBC. Producers are currently cutting output by a record 9.7 million barrels per day (bpd) –…

Blockades Lifted, Operations Resume At Oil India Limited’s Baghjan Wells

Oil India Limited on Sunday said most of its wells in Assam’s Baghjan, which were shut due to protests by locals over a fire at a gas well after a days-long blowout, have resumed operations following a meeting with a representative body of residents mediated by the Tinsukia district administration. The operations started between 7…

Centre propose amendments in MV draft rules to allow int’l movement

The Centre has proposed amendment in the Motor Vehicle Draft rules for facilitating MoUs with neighbouring countries which would allow movement of passenger or goods vehicles. Accordingly, the Ministry of Road Transport and Highways has invited “suggestions and comments” from all stakeholders on the proposed amendment. Besides, it has been decided to establish standard guidelines…

Some states plan to cancel contracts with Chinese firms

Some states have started planning to cancel contracts with Chinese companies and instructed personnel to remove China-made apps from mobile phones amid growing clamour to boycott goods produced by the neighbouring country after clashes in Ladakh left 20 soldiers dead. On Saturday, Haryana annulled two tenders for installation of flue gas de-sulphurization (FGD) system at…