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Petrol, diesel prices steady amid drop in global crude rates

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Consumers continue to get relief from rising fuel prices with oil marketing companies (OMCs) keeping pump prices of petrol and diesel unchanged post revision of duties by the state governments on Diwali eve.

Accordingly, their prices remained static for 13th consecutive day on Wednesday under the daily price revision mechanism followed by oil marketing companies.

The pump price of petrol in Delhi, which fell to Rs 103.97 a litre at 6 a.m. on the Diwali day on November 4 from previous day’s Rs 110.04 a litre, remains the same. The diesel rates also remained unchanged in the capital at Rs 86.67 a litre.

In the financial capital Mumbai, petrol continues to be priced at Rs 109.98 a litre and diesel Rs 94.14 a litre.

Fuel prices remained static in Kolkata also with petrol being sold at Rs 104.67 a litre after being slashed by Rs 5.82 and diesel at Rs 89.79 per litre after reduction of 11.77 per litre in the first week of November.

Petrol prices in Chennai also continues to be Rs 101.40 per litre and diesel Rs 91.43 per litre.

Across the country as well price of the fuel largely remained unchanged on Wednesday but the retail rates varied depending on the level of local taxes.

The global crude prices which has touched three year high level of over $85 a barrel on several occasions in past one month has softened now to less th a $ 82 a barrel. Rise in US inventory has pushed down crude prices but OPEC + decision on only gradual increase in production in December could raise cr ude prices further. This could put pressure on oil companies to revise fuel p rices upwards again.

Before price cuts and pauses, diesel prices had increased on 30 out of the last 54 days taking up its retail price by Rs 9.90 per litre in Delhi.

Petrol prices have also risen on 28 of the previous 50 days taking up its pump price by Rs 8.85 per litre.

Since, January 1, 2021 petrol and diesel prices have risen by more than Rs 26 a litre before the duty cuts.

The excise duty cut by the Centre on November 3 was first such exercise since the onset of Covid pandemic. In fact, government had revised excise duty on petrol and diesel sharply in March and again in May last year to mobilise additional resources for Covid relief measures.

The excise duty was raised by Rs 13 and Rs 16 per litre on petrol and diesel between March 2020 and May 2020 and was standing high at Rs 31.8 on diesel and Rs 32.9 per litre on petrol before the Centre decided on the duty cut.

Business

Mumbai: Social Activist Demands Action Against Police Officers For Negligence In Torres Multi-Crore Scam Investigation

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Mumbai: In a serious development concerning Torres massive financial fraud case, a Social Activist Shashikant Kawale has called for action against police officers who allegedly neglected their duty despite receiving prior warnings about fraudulent activities. 

Social Activist Shashikant Kawale wrote a letter addressed to senior law enforcement authorities, including the Commissioners of Mumbai and Navi Mumbai Police, the Maharashtra Cyber Crime Department, the Economic Offences Wing, and the Enforcement Directorate, has raised serious questions about the delay in action against fraudulent companies operating in Mumbai and surrounding areas. The letter highlights gross negligence by responsible officers despite early warnings regarding Torres Scam.

Whistle Blower Flags Concerns

The Whistle blower Shashikant Kawale had previously flagged concerns, urging the authorities to investigate the legality of these companies’ operations, government-issued licenses, mandates, board of directors, and operational documents. Specifically, the letter called for a detailed probe into the working methods and financial inflows/outflows of the company, Records of investors and agents involved and The suspiciously high monthly returns promised by the Torres Company.

About The Allegations

The letter alleges that had an inquiry been launched promptly, it would have prevented many investors from falling prey to false promises, sparing them from financial devastation. Despite explicit warnings that the companies were preparing to flee after defrauding investors, no significant action was taken.

The Social Activist Kawale has demanded an inquiry into officers who failed to act on the provided information, urging that those found guilty be held accountable under applicable regulations. The letter further appeals for systemic reforms to prevent the recurrence of such incidents.A social activist from Dharavi, Shashikant Kavale, first raised red flags in November last year and approached the Shivaji Park police and EOW, highlighting Torres’ dubious practices.

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Business

JSW MG Motor India Unveils Cyberster Roadster & M9 Limousine At Bharat Mobility Expo 2025

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New Delhi: MG Motor India has made a bold statement at the Bharat Mobility Global Expo 2025 with the launch of two groundbreaking electric vehicles—the MG Cyberster, India’s first all-electric roadster, and the MG M9, India’s first electric three-row presidential limousine.

These models, introduced under the new luxury brand channel, MG Select, highlight the company’s vision of bringing intelligent, sustainable, and customer-focused mobility solutions to India.

MG Cyberster: The All-Electric Roadster of the Future

The MG Cyberster takes luxury and performance to new heights as India’s first electric roadster. It features India’s first-ever electric scissor doors, opening and closing in just five seconds via a single-touch button. The built-in Dual Radar sensors ensure safety while opening the doors, while an anti-pinch feature prevents harm when closing.

Under the hood, the Cyberster delivers blistering acceleration, going from 0 to 100 kmph in just 3.2 seconds. The sleek, aerodynamic design is complemented by the industry’s slimmest 77 kWh battery pack, ensuring the vehicle remains both powerful and efficient, setting a new standard for modern roadsters.

MG M9: The Ultimate Electric Limousine

The MG M9 takes luxury to the next level with India’s first electric three-row presidential limousine. Designed for ultimate comfort, it features a touchscreen armrest for controlling reclining ottoman seats with 8 massage modes and 3-zone climate control.

The spacious cabin can accommodate seven passengers and offers features like a panoramic sunroof, front-opening skylight, and advanced audio systems for a theatre-like experience. With an electric-powered design, the MG M9 redefines the concept of luxury on wheels, offering unparalleled comfort and performance for discerning customers.

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Business

Internet users to surpass 900 million in India this year, AI a game changer

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New Delhi, Jan 16: Driven by the growing use of Indic languages for digital content, the internet user base in India is set to surpass 900 million by 2025, driven by the growing use of Indic languages for digital content, a report showed on Thursday.

The number of active internet users in India reached 886 million in 2024, marking a robust 8 per cent year-on-year growth. Rural India, with 488 million users, leads this growth and now accounts for 55 per cent of the total internet population, according to the report by the Internet and Mobile Association of India (IAMAI) and Kantar.

Nearly all internet users (98 per cent) accessed content in Indic languages, with Tamil, Telugu, and Malayalam emerging as the most popular due to their extensive availability.

Over half (57 per cent) of urban internet users prefer consuming content in regional languages, underscoring the growing demand for local language content across platforms, according to the report.

AI has emerged as a significant game changer over the past year. Nine out of 10 internet users have interacted with apps featuring embedded AI capabilities.

“The widespread acceptance and enthusiasm surrounding AI should encourage digital companies to introduce more next-generation AI features in India,” Biswapriya Bhattacharya, Director, B2B and Technology, Kantar Insights–South Asia, said.

The digital gender gap in India is steadily narrowing, with 47 per cent of all internet users in the country being women — so far the highest.

Female internet users now form a significant portion of shared device users in rural India at 58 per cent. This marks substantial progress in making digital access more inclusive and equitable over the years, the report noted.

Rural India dominates online engagement for top activities, including OTT video and music streaming, online communication, and social media usage, outpacing urban users in these categories.

Urban India leads in the adoption of non-traditional devices such as smart TVs and smart speakers, which have grown by 54 per cent between 2023 and 2024.

Concurrently, mobile devices remain the primary means of accessing the internet across both urban and rural demographics, said the report.

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