New Delhi: Goldprices maintained a rising momentum for the third consecutive session to reach another all-time high of Rs 89,796 per 10 grams on Thursday, following a firm trend in global markets.

On the Multi Commodity Exchange (MCX), the precious metal contracts for April delivery hit a record high of Rs 89,796 per 10 grams in the morning trade.

Later, the yellow metal pared its gains and was trading Rs 268 or 0.3 per cent higher from the previous close at Rs 88,870 per 10 grams, with a business turnover of 13,084 lots.

Investors continued their safe-haven asset purchasing following the US Federal Reserve’s constant stance on the interest rate, according to analysts.

Globally, gold futures touched a lifetime high at USD 3,065.09 per ounce in New York.

“Gold rallies to another historic high in international markets after the US Federal Reserve held interest rates steady as anticipated, but signalled a possible reduction in borrowing costs by half a percentage point by the end of this year,” Rahul Kalantri, VP of Commodities at Mehta Equities Ltd, said. Both dollar index and bond yields maintained at low also boosted gold prices, he added.

Mumbai, March 20: Chief Minister Devendra Fadnavis on Thursday said that Microsoft and Gates Foundation will provide support to make Maharashtra a role model in the country in digital governance and right to service, especially when the government has started the use of artificial intelligence (AI).

Also, the Gates Foundation has shown its readiness to participate in the Lakhpati Didi initiative to fulfil the state government’s goal of making 25 lakh women entrepreneurs.

CM Fadnavis said this after meeting Microsoft co-founder, renowned entrepreneur and founder of the Gates Foundation Bill Gates.

The chief minister’s office in a release said that the duo also held a positive discussion on the use of artificial intelligence in health, agriculture and infrastructure.

CM Fadnavis said that as Maharashtra is going through a transformation phase, major projects are underway in infrastructure, agriculture, and health.

“Since there is a shortage of doctors in rural areas, the Gates Foundation should cooperate to provide quality health services and facilities. The Budget has also made provision for the use of AI in the health and agriculture sectors,” he added while giving the example of doubling the production of sugarcane in the Pune district using the technology.

CM Fadnavis told Bill Gates that the state government is trying to ensure that farmers have access to electricity during the day and for this, solar power is being used from 2022-23. From 30 per cent of electricity generation, now up to 52 per cent is being generated through solar, so farmers are getting electricity at a lower cost.

He also shared that there is a plan to make all the electricity feeders solar to provide them with electricity for 24 hours.

The Chief Minister also informed that an Innovation City is being set up in an area of 300 acres in Navi Mumbai.

Bill Gates assured to partner in technical assistance along with financial assistance for the Innovation City and other initiatives, according to the release.

Gates Foundation will provide technical and financial support to the state government to contain dengue in Gadchiroli district.

Bill Gates invited the chief minister to Seattle.

Mumbai, March 20: The Maharashtra government has intensified its scrutiny of Ola Electric stores over alleged trade violations, adding to the challenges faced by Bhavish Aggarwal-led electric vehicle (EV) maker

Officials from five regional transport offices inspected 26 Ola Electric stores in Mumbai and Pune to check for trade certificates, according to sources. As a result, authorities also confiscated a total of 36 Ola Electric scooters.

According to a report in NDTV Profit, until Tuesday, 10 Ola Electric stores in Mumbai were inspected and 10 scooters were impounded.

The latest action on Wednesday was taken following a complaint filed by Pritpal Singh and Associates, a Gurugram-based firm.

The complaint alleged that Ola Electric was setting up showrooms, stores, and service centres in Maharashtra using a single trade certificate, which is not permitted under the law.

An inspection report, signed by Deputy Transport Commissioner Ravi Gaekwad, confirmed the allegations, the report said.

Maharashtra’s Transport Minister, Pratap Sarnaik, has ordered immediate action on the complaint and asked for a report on the matter. Officials from four Mumbai RTOs and one Pune RTO carried out the inspections.

As per the Central Motor Vehicles Act, 1988, and Rule 33 of the Central Motor Vehicles Rules, 1989, vehicle distributors and manufacturers must obtain a business certificate to register vehicles.

Additionally, Rule 35 states that each showroom, dealership, or establishment engaged in selling or displaying vehicles must have a separate business certificate.

Failure to comply with these rules can result in penalties under Section 192 of the Motor Vehicles Act, 1988. This crackdown comes at a time when Ola Electric is already facing financial and legal troubles.

Last week, vendors Rosmerta Digital Services Private Ltd and Rosmerta Safety Systems Private Ltd moved to initiate insolvency proceedings against an Ola Electric subsidiary over unpaid dues of around Rs 25 crore.

These vendors were responsible for processing vehicle registrations and manufacturing high-security number plates for Ola Electric scooters.

However, the company has informed the stock exchanges about only one petition filed with the National Company Law Tribunal (NCLT) in Bengaluru.

Ola Electric is also under scrutiny for its reported sales figures. In February, the company claimed to have sold 25,000 scooters, but registration data suggests that only about a third of them were actually registered.