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Coal Gasification: Government will spend 6000 crores on making gas fuel from coal, ministry said- imports will decrease

Pankaj Prasad
Coal Gasification
Coal Gasification

The government is considering a Rs 6,000-crore scheme to promote production of coal-to-gas fuel in the country.

The government is considering a Rs 6,000-crore scheme to promote production of coal-to-gas fuel in the country. The Coal Ministry said on Friday that adoption of this technology would revolutionize the coal sector. Dependence on import of natural gas, methanol and other essential products will decrease. The ministry said, the units for the scheme to make gas fuel from coal/lignite will be selected through a transparent and competitive bidding process. The plan has two sections.

In the first section, the government will support public sector undertakings. The second segment will include both the private sector and public sector undertakings. At least one project under this section will be selected through a fee-based bidding process. NITI Aayog will be consulted to decide its criteria. A target has been set to make 100 million tonnes of gas from coal by 2029-30.

Instructions for issues related to business in rupee soon

RBI will issue instructions to banks in two-three days to resolve problems faced by exporters while trading in rupees with other countries. According to a senior government official, some exporters told the commerce ministry that they were facing some problem in issuing e-BRC (Electronic Bank Realization Certificate). We have taken it up with RBI. It has prepared a detailed SOP for all the banks.

Palm oil imports at three-month high in June

The country's palm oil imports rose 56 percent in June 2023 to a three-month high. A total of 6,83,133 tonnes of palm oil was imported during this period. The Solvent Extractors Association of India said that taking advantage of the fall in the prices in procurement, increased the purchase of palm oil. Imports in May were the lowest in 28 months.

HDFC: 311 crore new shares to shareholders

HDFC Bank HDFC Ltd. About 311 crore new shares of the bank have been allotted to the shareholders of the bank. The bank said on Friday that the allotment has been done as per the share swap ratio announced under the scheme of merger. Each shareholder of HDFC got 42 shares of HDFC Bank for every 25 shares held by him.

SBI made loan costlier by 0.05%, applicable from today

SBI has increased the marginal cost-based lending rate (MCLR) by 0.05% for all tenor loans. The new rate will be applicable from July 15, 2023. This move will increase the monthly installment of those customers of the bank who have taken MCLR based loan. However, this will not have any impact on the monthly installment of customers taking loans at rates linked to other benchmarks. With this increase, customers will have to pay 8 percent interest on loans for a period of one month. For a period of three months, this rate will be 8.15 percent and for six months, it will be 8.45 percent.

PLI 2.0: Last date for applications for IT hardware extended: The government on Friday extended the last date for receiving applications under the second phase of the Production Linked Incentive (PLI) scheme for IT hardware to July 31, 2023.

India invites American businessmen to invest in tourism sector

Union Minister for Culture, Tourism and Development of North Eastern Region (DONER) G. Kishan Reddy has invited American businesses and companies to invest in India's vibrant and diverse tourism sector. On the 5-day visit, Reddy invited American businessmen and companies to invest in an expatriate community event at the Consulate General of India. Reddy, who is in New York to attend various official and expatriate community events, highlighted India's economic growth, Narendra Modi government's 'Make in India' initiative, startup ecosystem in the country as well as steps taken to boost industries including tourism across the country. Mentioned the various steps. Calling upon Indians around the world to send at least five non-Indian families to India as tourists every year, Reddy urged non-Indian friends and colleagues from the diaspora to engage in activities ranging from culture, cruises, handicrafts and film tourism. Requested to encourage festivals, weddings, wildlife and exhibitions, rural and spiritual tourism and invest in it.