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Stock limit on edible oils, oilseeds extended up to Dec 31

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 In view of the ongoing Ukraine-Russia war resulting in supply restrictions in import of edible oils and oilseeds, the Centre has extended the stock limits imposed on edible oils and oilseeds until December 31.

This will come into effect from April 1.

A notification from the Ministry of Food, Consumer Affairs and Public Distribution’s Department of Food and Public Distribution published on Wednesday, extended the date from March 31 to December 31.

Domestic prices have been impacted by the high prices of edible oils in the international market. Majority of India’s import of sunflower oil comes from Ukraine. The shortage in the global supply chain has had an impact on Indian markets too.

The government had claimed that it formulated a multi-pronged strategy to ensure that the prices of essential commodities such as edible oils, remain controlled. Measures like rationalisation of import duty structure, launching of a web-portal for self-disclosure of stocks held by various stakeholders, have already been taken.

Under this amendment, the stock limits for edible oils are 30 quintals for retail and 500 quintals for wholesale while the same for oilseeds will be 100 quintals and 2,000 quintals, respectively. In both cases, the time for processors is 90 days of storage/production capacity.

This order was termed as Removal of Licensing Requirements, Stock Limits and Movement Restrictions on Specified Foodstuffs (Second Amendment) Order, 2022 and shall come into force with effect from April 1, 2022.

“In case, the stocks held by respective legal entities are higher than the prescribed limits then they shall declare the same on the portal (https://evegoils.nic.in/eosp/login) of the Department of Food and Public Distribution and bring it to the prescribed stock limits in this control order within 30 days of the issue of this notification,” the notification said.

“It shall be ensured that edible oils and edible oilseeds stock is regularly declared and updated on the portal of this department i.e. Department of Food and Public Distribution (https://evegoils.nic.in/eosp/login).”

In a related development, the government has also extended the free import of refined palm oils till December 31.

The Lok Sabha was informed on Wednesday that 62.84 LMT of palm oil was imported between June 2021 and March 14, 2022.

In a written reply to a question in Lok Sabha, Union Minister of State for Consumer Affairs, Food and Public Distribution, Sadhvi Niranjan Jyoti said: “In order to improve the domestic availability and to keep prices of edible oils under control, the government has allowed import of edible oils under Open General Licence (OGL).”

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After Meta, Google to report child sexual abuse content directly to Indian authorities

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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.

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Sensex, Nifty open marginally higher over crude price correction

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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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FM Sitharaman meets JPMorgan CEO Jamie Dimon in Mumbai

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Mumbai, Sep 21: Finance Minister Nirmala Sitharaman on Monday met Jamie Dimon, Chairman and Chief Executive Officer of JPMorgan Chase & Co., during the 11th edition of the JPMorgan India Investor Conference in Mumbai.

According to the Finance Ministry, Dimon interacted with the finance minister on the sidelines of the conference, which brought together investors, policymakers and corporate leaders to discuss India’s economic outlook and investment opportunities.

FM Sitharaman also addressed participants at the event and took part in a fireside chat with Sajjid Chinoy, Head of Asia Economics at JPMorgan.

“Jamie Dimon, Chairman and CEO of JPMorgan Chase & Co., interacts with FM Sitharaman during the J.P. Morgan India Investor Conference in Mumbai, Maharashtra,” the finance minister posted on social media platform X.

” FM Sitharaman addressed the gathering and participated in a fireside chat with Sajjid Chinoy, Head of Asia Economics at JPMorgan, during the 11th edition of the J.P. Morgan India Investor Conference in Mumbai, Maharashtra,” the finance minister added.

The meeting comes as JPMorgan said in a recent report that a combination of tax reforms and regulatory measures had enhanced the attractiveness of equities for domestic investors, helping sustain robust inflows despite relatively muted market returns over the past two years.

The brokerage noted that changes in the taxation framework for long-term capital gains, debt mutual funds and certain insurance products have improved the relative appeal of equities.

It said these measures, alongside rising participation through systematic investment plans (SIPs), are supporting a continued shift of household savings toward financial assets.

According to JPMorgan, domestic investors have increasingly emerged as a stabilising force for Indian markets, offsetting bouts of volatility triggered by foreign portfolio investor outflows and global uncertainties.

The report highlighted that retail participation has remained resilient even during periods of modest benchmark returns, signalling a structural change in investment behaviour.

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