New Delhi, May 16: Maharashtra Transport Minister Pratap Sarnaik has directed the Cyber Crime department to lodge FIRs against Ola, Uber and Rapido over alleged illegal bike taxi operations in the state.

The minister further clarified that app-based mobility platforms Ola, Uber and Rapido continue to operate in the state as we sought legal action against their alleged unauthorised bike taxi services.

The clarification came after reports circulated on social media claiming that the services of Ola, Uber and Rapido had been completely shut down in Maharashtra.

In a post on X, the Directorate General of Information and Public Relations (DGIPR), Maharashtra, said such reports were misleading and stated that the government’s action is limited only to illegal bike taxi operations.

“The claim circulating on social media that all services of Ola, Uber, and Rapido have been completely shut down in Maharashtra is misleading,” it said.

“The transport department has taken a strict stance against unauthorised bike taxi services operating illegally in the state,” DGIPR added.

According to the state government, Sarnaik has written to the Cyber Crime department requesting immediate action against unauthorised bike taxi app services operating through the three platforms.

The minister also asked the department to file FIRs against the companies over the alleged operations.

“Transport Minister Sarnaik has written to the cyber-crime department demanding the immediate shutdown of unauthorised bike taxi app services like Ola, Uber and Rapido and the filing of FIRs against the respective company owners,” it stated.

“At the same time, the Transport Commissioner has also sent a letter to the Cyber Crime department in this regard,” it added.

However, there is no official comment on the development from the companies yet.

Bike taxi services have repeatedly faced regulatory challenges in Maharashtra over concerns related to legality, licensing norms and compliance with transport regulations.

App-based mobility operators offering two-wheeler taxi services have also encountered policy-related hurdles in the state in the past, as authorities continue to examine the framework governing such operations.

New Delhi, May 16: The recent retail fuel price increase of Rs 3 per litre will trim mounting losses at oil marketing companies and provide up to Rs 52,700 crore worth of relief in their under‑recoveries, a report said on Saturday.

The report from SBI Research said that the relief is equal to roughly 15 per cent of the expected total loss of OMCs in FY27.

Under‑recoveries on petrol and diesel have surged because retail prices were kept unchanged amid rising Brent crude, with the government estimating OMC losses at about Rs 1,000 crore per day and roughly Rs 3.6 lakh crore a year.

The report said the fuel price hike is unlikely to reduce annual oil consumption, as historical patterns showed consumption dips immediately after price hikes but recovers over the year.

“Further, immediate impact on CPI inflation is likely around 15-20 bps in May-June 2026. So, we revise our FY27 forecast to 4.7 per cent. There is no direct impact of this hike on the fiscal situation,” the report noted.

Notably, the government has earlier reduced the excise duty by Rs 10 on diesel and petrol during the year to help

The OMCs for which the revenue loss for the centre is estimated as Rs 1.1 lakh crore.

A similar rationalisation of excise to zero to aid OMCs would cost the centre about Rs 1.9 lakh crore and states about Rs 80,000 crore.

The report flagged that a further depreciation of the rupee could negate the intended benefits, saying that an additional depreciation of Rs 2 from the FY27 average of Rs 94 to the dollar would fully offset the gains from the domestic fuel price revision.

“The rupee has already approached a critical depreciation threshold, beyond which further currency weakness could substantially erode the intended benefits of domestic fuel price revisions,” it explained.

New Delhi, May 15: India and the United Arab Emirates signed key agreements, during the visit of Prime Minister Narendra Modi on Friday, on a framework for the bilateral strategic defence partnership, the supply of LPG and strategic petroleum reserves, and an investment to the tune of $5 billion US dollars in Indian Infrastructure and RBL Bank and Samman Capital.

An agreement was also signed for setting up a ship repair cluster at Vadinar.

Speaking during delegation-level talks in Abu Dhabi, Prime Minister Narendra Modi said, “India stands shoulder-to-shoulder with the UAE in every situation, and it will continue to do so. For the restoration of peace and stability, India will extend all possible cooperation.”

He said it was important that the Strait of Hormuz remains “free and open” and added that international laws must be respected.

The Prime Minister thanked UAE President Mohamed bin Zayed Al Nahyan for strengthening the India-UAE comprehensive strategic partnership and said bilateral cooperation had gained greater importance in the current global situation.

PM Modi said both sides had agreed during the UAE President’s January visit to India to qualitatively upgrade relations and had already made significant progress in a short span.

“I extend heartfelt gratitude to you for taking our comprehensive strategic partnership to new heights. During your visit to India in January, we agreed to qualitatively upgrade our relations. Even in such a small duration, we have made significant progress in all matters. In the kind of situation we have at hand today, the importance of India-UAE strategic cooperation has vastly increased. In the time to come, we will go ahead together in every area,” he observed.

PM Modi said the impact of the conflict in West Asia was being felt globally and stressed that dialogue and diplomacy remain the best way to resolve issues.

The Prime Minister arrived in the UAE earlier in the day and received a ceremonial welcome. Later, he held bilateral talks with UAE President Mohamed bin Zayed Al Nahyan, popularly known as MBZ.

Prime Minister Narendra Modi began his five-nation tour from May 15 to 20, covering the UAE, the Netherlands, Sweden, Norway and Italy. The visit aims to deepen India’s strategic and economic partnerships across key sectors, including energy, defence, technology, green transition and trade.