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Reliance Industries Ltd (RIL), India’s biggest company by market value, Friday reported a 41% jump in consolidated profit in the June quarter as cheaper Russian crude and robust fuel demand boosted refining margins, while consumer-facing retail and telecom segments also clocked higher revenues.
Reserve Bank of India (RBI) governor Shaktikanta Das said the central bank has zero tolerance for “volatile and bumpy” swings in the currency market and will intervene to ensure that the rupee finds a level commensurate with its fundamentals.
States will have to meet a quarter of their power demand through renewable energy sources in the current year, scalable to 47% in the next eight years as per a new trajectory issued by the central government.
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