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MUMBAI: In a move that will buy more time for exporters, the Reserve Bank of India extended a pandemic-style leniency on trade finance, allowing pre- and post-shipment export credit to run for up to 450 days for all disbursements made until June 30, 2026. The measure, effective immediately, is meant to cushion firms grappling with…
In response to disruptions in cargo movement linked to the Middle East crisis, the government has allowed an additional 30 days for the gems and jewellery sector to fulfil specific export and import timelines.The relaxation comes as exporters face delays in consignments to key markets in the region, which accounts for nearly 30 per cent…
As global energy supplies come under strain due to the ongoing Middle East conflict, the Centre has introduced a temporary measure to ease pressure on cooking fuel availability in the country. Under the 60-day emergency plan, announced on Monday, states and Union Territories will receive additional kerosene for essential household use, including cooking and lighting.The…
Govt Proposes To Do Away With Jail Term NEW DELHI: In a reprieve for first-time offenders, govt has proposed to do away with a jail term of up to three months for driving a vehicle violating the prescribed road safety and air and noise pollution norms.As part of the 784 provisions, across 79 central laws,…
NEW DELHI: Amid the backdrop of the West Asia conflict, India will need to provide immediate relief to the most affected and vulnerable businesses and households, and generate fiscal space to meet strategic and long-term needs, a finance ministry report said on Saturday.The ministry report said this would need building long-term buffers in several commodities…
US secretary of state Marco Rubio US secretary of state Marco Rubio has insisted that Washington’s recent easing of sanctions on Russian crude is strictly temporary, warning that it does not signal any long-term shift in policy even as global energy markets reel from the Iran conflict.Speaking after G7 talks in Paris, Rubio said the…
The Strait of Hormuz is a crucial passage linking oil and gas producers in the Persian Gulf to global markets. (AI image) India’s immediate LPG crisis seems to be easing with tankers coming in and domestic production stepped up to meet needs. Two more Indian-flagged ships carrying liquefied petroleum gas (LPG) are currently transiting the…
The Central Board of Direct Taxes (CBDT) on Friday notified the Income-tax Rules, 2026 to operationalise the simplified direct tax legislation passed by Parliament last year, with the new framework set to come into effect from April 1. “These rules may be called the Income-tax Rules, 2026. They shall come into force on the April…
If the US were to ‘unsanction’ Iran oil at sea, India would be able to step up procurement. (AI image) Will India get access to Iran crude oil soon? The Donald Trump administration has signalled the possibility of waiving sanctions on floating Iran crude oil to ease the ongoing shock in the global energy markets….
The Centre on Thursday launched the RELIEF (Resilience & Logistics Intervention for Export Facilitation) scheme with an outlay of Rs 497 crore to support Indian exporters facing disruptions due to the ongoing conflict in the Middle East, as the government moved to cushion the impact of rising freight costs, insurance premiums and shipping delays.The scheme…
