Business
Action against hoarders of edible oils, oilseeds to keep tab on price rise
Cooking oil hoarding in Maharashtra and that of soybeans and mustard seeds in Madhya Pradesh has prompted the Centre to invoke actions under the provisions of the Essential Commodities Act 1955, officials said on Tuesday.
Prices of cooking oil are on an upwards swing globally due to the Ukraine-Russia war. “The domestic prices of edible oils have been following the international suit and the prices have increased considerably over the past one month which may be attributed to the current geopolitical condition,” officials said.
Inspections have revealed very large hoardings of soybean and mustard seeds in Dewas, Shajapur and Guna districts of Madhya Pradesh. “These seeds were much above the stock limit prescribed by the government. Hoarding of seeds has pushed up the prices of soybean oil. The state government has been asked to step in to take necessary action under the EC Act, 1955,” Department of Food & Public Distribution said.
Similarly, in Maharashtra and Rajasthan, large quantities of edible oils were found in excess of the prescribed quantities of the control order. Wholesalers and big chain retail outlets were the main violators. “The state governments have been requested to take corrective measures in accordance with the relevant sections of the EC Act,” officials said.
Over the weekend, teams have been sent to Maharashtra, Rajasthan, Madhya Pradesh, Uttar Pradesh, West Bengal, Telangana, Gujarat and Delhi, the officials said, adding, “Inspection is ongoing in the remaining five states.”
The state governments of Maharashtra, Madhya Pradesh and Rajasthan have also been requested to ensure that supply chain is not affected while taking action under EC Act.
In order to ensure strict enforcement of the Central Order of March 30 and February 3, the Central teams from the Department of Food & Public Distribution have been deputed to conduct surprise inspections of the stocks of edible oils & oilseeds held by retailers, wholesalers, big chain retailers and processors in major oilseed producing and consuming states.
The Government of India has taken several proactive steps in the last few months to stabilise the prices of edible oils in the country, including declaration of stocks by all stockholders of edible oils and oilseeds under the Essential Commodities Act (EC Act), 1955.
In order to curb price escalation on account of hoarding and resultant artificial scarcity of edible oils, which is a basic necessity in the food basket, the Government of India has notified a Central Order on March 30 that amended the ‘Removal of Licensing Requirements, Stock Limits and Movement Restrictions on Specified Foodstuffs Order, 2016’ and its Central Order dated February 3 by extending the stock limits for all Edible Oils and Oilseeds put together for a period up to December 31 for all states/union territories. This order is effective from April 1 up to December 31, 2022.
Business
Sensex, Nifty post marginal gains as crude prices drop below $100

Mumbai, Sep 23: The Indian equity markets inched up marginally early on Wednesday as crude prices eased below $100 per barrel mark. Investors also remain keen on easing global tensions ahead of scheduled talks between US President Donald Trump and his Chinese counterpart Xi Jinping.
As of 9.20 am, Sensex added 194 points, or 0.26 per cent, to reach 74,732 and Nifty gained 49 points, or 0.21 per cent to reach 23,378.
Main broad-cap indices performed in line with the benchmark indices, as the Nifty Midcap 100 added 0.33 per cent, and the Nifty Smallcap 100 advanced 0.6 per cent.
Sectoral indices on NSE traded in green except Nifty IT, down 0.37 per cent. Nifty metal was the top gainer, up 1.06 per cent, followed by FMCG and PSU Bank, up 0.55 per cent and 0.5 per cent, respectively.
“The structure of the market in recent days has been technically weak with a downward bias and will remain so in the absence of significant triggers. A sharp dip in crude prices or US bond yields can provide that trigger,” analysts said.
“Domestic liquidity is supporting the broader market. Market activity is now focused on the broader market. Good growth and better growth prospects are attracting investment into many mid-and small-caps but valuations in these segments are getting stretched,” they added.
Global cues are mixed as Asian markets remain broadly positive, supported by technology stocks, while Wall Street stayed near record levels amid renewed AI optimism.
In the previous session, Nifty closed at 23,329, down 0.43 per cent, after opening higher at 23,454. Immediate support is placed at 23,150–23,200, while resistance is seen at 23,450–23,500.
In the previous session, Bank Nifty closed at 56,215, down 0.49 per cent. Immediate support is placed at 55,800–56,000, while resistance is seen at 56,500–56,600.
In Asian markets, China’s Shanghai index shed 0.34 per cent, and Shenzhen lost 0.57 per cent, Japan’s Nikkei added 1.38 per cent, and Hong Kong’s Hang Seng Index declined 0.78 per cent. South Korea’s Kospi added 0.08 per cent.
The US markets ended mixed overnight as Nasdaq gained 0.45 per cent. The S&P 500 remained flat, and the Dow Jones shed 0.36 per cent.
On September 22, foreign institutional investors (FIIs) net sold equities worth Rs 3,800 crore, while domestic institutional investors (DIIs) bought equities worth Rs 4,120 crore.
Business
After Meta, Google to report child sexual abuse content directly to Indian authorities

New Delhi, Sep 22: After Meta, US tech giant Google will report content flagged as child sexual abuse material (CSAM) directly to the Indian authorities, contrary to the long‑standing global practice of routing such reports through a US non‑profit organisation.
Meta announced a similar change last week after Indian officials pressed major tech firms in recent weeks to speed up reporting, citing concerns that the existing system delays reports considerably.
Google “invests significantly to detect, deter, remove, and report child sexual abuse material,” a company spokesperson said, describing the change as part of the company’s “ongoing discussions with the government of India.”
Meta and Alphabet’s Google used to send tips to the US‑based National Center for Missing & Exploited Children (NCMEC) which then relayed them to local law enforcement, according to reports.
Such a practice could cause dangerous delays in cases where children may be at immediate risk as reports pass through an intermediary before reaching domestic police who can act on the ground.
The US nonprofit that erstwhile used to receive such reports first hand runs CyberTipline portal that recorded nearly 21.3 million reports from around the world of suspected child sexual exploitation in 2025.
India remains the largest market by user count for both Meta’s Facebook and Google’s YouTube. Meta’s shift in policy comes after weeks of friction with New Delhi, including an apology last month by CEO Mark Zuckerberg over the spread of child sexual abuse material on the company’s platforms.
Technology and law enforcement officials in the United States, the European Union and elsewhere have urged platforms to bolster detection and reporting. However, most countries continue to route reports through the US nonprofit as the primary international clearing house.
The Central government, in July, directed Google to take down multiple Firebase web development accounts that were impersonating the websites and mobile apps of major public- and private-sector banks and other financial institutions.
Business
Sensex, Nifty open marginally higher over crude price correction

Mumbai, Sep 22: The Indian equity markets inched up slightly on Tuesday morning, tracking positive global cues and correction in global crude prices.
As of 9.20 am, Sensex added 64 points, or 0.10 per cent, to reach 74,914 and Nifty gained 34 points, or 0.15 per cent, to reach 23,449.
Main broad-cap indices outperformed gains of the benchmark indices, as the Nifty Midcap 100 added 0.33 per cent, and the Nifty Smallcap 100 advanced 0.4 per cent.
Sectoral indices on NSE traded in green except Nifty IT down 1.09 per cent and FMCG down 0.01 per cent. Nifty realty was the top gainer, up 1 per cent, followed by chemicals, up 0.64 per cent.
“With precious metals stabilising and fixed income returns becoming attractive, investors can now opt for a multi-asset strategy,” an analyst said.
WTI crude trading in the $92–$93-a-barrel range and a stronger rupee provided additional comfort on the broader macroeconomic front.
Global risk sentiment has improved, with US equities posting strong gains and Asian markets largely positive, while softer crude prices have eased some pressure on oil-importing economies.
In the previous session, Nifty surged 0.29 per cent and closed at 23,414. Immediate support is placed at 23,250–23,300, while resistance is seen at 23,550–23,600.
In the previous session, Bank Nifty closed at 56,470, up 0.20 per cent. Immediate support is placed at 56,000–56,300, while resistance is seen at 56,800–57,000, said analysts.
In Asian markets, China’s Shanghai index gained 0.22 per cent, and Shenzhen added 0.62 per cent, Japan’s Nikkei added 1.38 per cent, and Hong Kong’s Hang Seng Index added 0.41 per cent. South Korea’s Kospi added 1.89 per cent.
The US markets ended in green overnight as Nasdaq gained 2.26 per cent. The S&P 500 added 1.49 per cent, and the Dow Jones added 0.71 per cent.
On September 21, foreign institutional investors (FIIs) net sold equities worth Rs 576 crore, while domestic institutional investors (DIIs) bought equities worth Rs 2,800 crore.
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