Top headlines: Dr Reddy's to get Russia vaccine, airlines' Q1 revenue dips

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Prime concern is to protect depositors, ensure financial stability: RBI

The Reserve Bank of India (RBI) is more concerned about the depositors interest and preserving financial stability than giving doles to the industry, Governor Shaktikanta Das indicated to industry captains on Wednesday. “The primary concern in the banking system is the protection of depositors’ money. Ultimately, it is the depositors’ money that is being lent out,” governor Das said in an interaction with the governing council of the industry lobby group Federation of Indian Chambers of Commerce & Industry (FICCI). Read More...

Russia to sell Covid-19 vaccine to India's Dr Reddy's Laboratories

Russia's sovereign wealth fund said on Wednesday it will supply India's Dr. Reddy's Laboratories with 100 million doses of the Sputnik-V vaccine against Covid-19 once it receives regulatory approval in India. Read More...

Vedanta wins case for $499 mn award claim; SC rejects govt plea

The Supreme Court ruled on Wednesday that Vedanta Ltd. is entitled to recover a $499 million arbitration award from the central government for developing oil and gas fields in Rajasthan. The court rejected the government’s petition, which had said that billionaire Anil Agarwal’s company, along with Videocon Industries Ltd., is entitled to recover only $198.5 million as agreed in the production-sharing contract for the Ravva oil and gas fields. Read More...

Revenues of Indian airlines fell 85.7% in April-June due to Covid-19: Puri

The revenue of Indian airlines fell by 85.7 per cent to Rs 3,651 crore during the first quarter of 2020-21 in comparison to the corresponding period a year ago due to COVID-19, said Civil Aviation Minister Hardeep Singh Puri on Wednesday. Moreover, employee count at the Indian carriers went down from 74,887 on March 31 to 69,589 on July 31, a decrease of 7.07 per cent, Puri stated in a written reply to a question in Rajya Sabha. Read More...

Babri demolition verdict on Sept 30; Advani, Joshi asked to be in court

A special CBI court hearing the Babri mosque demolition case will pronounce its judgment on September 30. Judge SK Yadav has directed all accused to remain present in the court on the day of judgment. Prominent among the 32 accused are former deputy prime minister L K Advani and BJP leaders M M Joshi, Kalyan Singh, Uma Bharti and Vinay Katiyar. Read More...