India grants EU banks access to open 15 branches under FTA

India grants EU banks access to open 15 branches under FTA


The European Central Bank (ECB) logo
| Photo Credit:
Ralph Orlowski

India has agreed to allow European Union (EU) banks to open 15 branches over four years under the free trade agreement, the commerce ministry said.

At present, European banks that operate in India include Deutsche Bank (Germany), BNP Paribas (France), and Societe Generale (France).

India and the European Union (EU) on Tuesday announced the conclusion of a free trade agreement (FTA). It is expected to be signed and implemented this year.

The country has also provided 100 per cent FDI (foreign direct investment) commitments in the insurance sector and 74 per cent for banking services, it said.

“India has provided market access for bank branches to the EU, that is, 15 branches over 4 years for EU banks,” it said.

It also said that India has taken appropriate carve-outs for national security and also reserved policy space in sectors like legal services, thereby taking care of India-specific sensitivities.

Regarding rules of origin, the ministry said that to ensure only meaningful manufacturing or value-adding activities qualify for preferential tariffs, there is an “insufficient production or minimal operations and processes” clause in the agreement .

It specifies processes that do not confer origin status, even if performed in a member country (such as packaging, labelling, minor assembly, or peeling).

Further, in case there is a surge in imports into India from the EU on account of tariff liberalisation commitments under the trade deal, which can impact a domestic industry, the trade pact provides a bilateral safeguard mechanism.

Under the mechanism, India can enhance the rate of duty to MFN (most favoured nation) level on goods, which has resulted in a surge in imports from the EU due to tariff reduction or elimination under the trade deal.

“The maximum duration of bilateral safeguard measures cannot exceed four years. The measure can be initially applied for a period of two years, which can be extended by an additional period of two years upon a review investigation. In any case, the measure cannot exceed a period of four years,” it said.

Further, it said that there is no obligation on India under the Intellectual Property Chapter in the India-EU trade deal that requires India to change or modify any of its intellectual property laws.

The trade deal provides for a general review by the joint committee within five years of its entry into force and thereafter every five years, or at such other times as may be agreed by the parties.

Published on January 30, 2026



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रिलायंस ने अपनी जामनगर रिफाइनरी के लिए रूस से फिर से क्रूड ऑयल खरीदने का लिया फैसला

रिलायंस ने अपनी जामनगर रिफाइनरी के लिए रूस से फिर से क्रूड ऑयल खरीदने का लिया फैसला


Russian Crude Oil Import: बिजनेस टायकून मुकेश अंबानी की अगुवाई वाली कंपनी रिलायंस इंडस्ट्रीज लिमिटेड (RIL) फरवरी से रूस से तेल खरीदना फिर से शुरू कर देगी. न्यूज एजेंसी रॉयटर्स की एक रिपोर्ट में इसका खुलासा हुआ है. कंपनी के एक सीनियर एग्जीक्यूटिव ने गुरुवार को बताया कि गुजरात के जामनगर में रिफाइनिंग कॉम्प्लेक्स के लिए प्रति दिन 150,000 बैरल तेल का रूस से आयात किया जाएगा.

इससे पहले रिलायंस ने बीते साल 20 नवंबर को रूस से तेल खरीदना पूरी तरह से बंद कर दिया था. इसके बाद दिसंबर में अमेरिका से मिली एक महीने की छूट के दौरान रिलायंस ने आखिरी बार रूसी कच्चा तेल इंपोर्ट किया था. रूस की बड़ी तेल कंपनियों पर लगाए गए प्रतिबंधों के बावजूद रिलांयस को अमेरिका से यह छूट इसलिए मिली थी ताकि वह  रूस की सरकारी तेल कंपनी रोसनेफ्ट से पहले किए गए सौदों को पूरा कर सके. 

किनसे तेल खरीदेगी कंपनी? 

अक्टूबर के महीने में अमेरिका ने रूसी एनर्जी कंपनी रोसनेफ्ट और लुकोइल पर प्रतिबंध लगाए थे. हालांकि, अमेरिकी प्रतिबंधों के दायरे से बाहर रूसी प्रोड्यूसर्स ने ग्लोबल खरीदारों को कच्चा तेल एक्सपोर्ट करना जारी रखा है. इंडिया एनर्जी वीक के मौके पर नाम न जाहिर करने की शर्त पर कंपनी के एग्जीक्यूटिव ने बताया कि रिलायंस केल उन्हीं रूसी कंपनियों से तेल खरीदेगी, जो प्रतिबंधों के अधीन नहीं हैं. हालांकि, सप्लायर्स का खुलासा नहीं किया गया.

इससे पहले, रिलायंस गुजरात में अपने जामनगर रिफाइनरी कॉम्प्लेक्स के लिए रोसनेफ्ट के साथ एक लॉन्ग-टर्म एग्रीमेंट के तहत प्रति दिन लगभग 500,000 बैरल रूसी कच्चा तेल इंपोर्ट कर रही थी. रूस के अलावा कंपनी सऊदी अरब और इराक जैसे देशों से टर्म कॉन्ट्रैक्ट के तहत क्रूड ऑयल खरीदती है. रिलायंस की जामनगर रिफाइनरी में क्रूड ऑयल की सफाई की जाती है और फिर उससे पेट्रोल-डीजल जैसे फ्यूल बनाए जाते हैं. इसके बाद इन्हें अमेरिका, यूरोप जैसे कई अलग-अलग देशों में भेजा जाता है. 

 

 ये भी पढ़ें:

लुट गया इंडोनेशिया का ये अमीर शख्स, एक झटके में गंवाए 8,27,59,50,00,000 रुपये, जानें वजह



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EU lists Iran’s Revolutionary Guard as terrorist group after deadly protest crackdown

EU lists Iran’s Revolutionary Guard as terrorist group after deadly protest crackdown


Members of Iran’s Revolutionary Guards participate in a military parade to commemorate the anniversary of the start of the 1980-1988 Iran-Iraq war, in Tehran. A file photo.
| Photo Credit:
MORTEZA NIKOUBAZL

The European Union has listed Iran’s paramilitary Revolutionary Guard as a terrorist organisation in the aftermath of Tehran’s bloody crackdown on nationwide protests, the bloc’s top diplomat said in a post on X on Thursday.

Kaja Kallas, the EU’s foreign policy chief, said that foreign ministers unanimously agreed on the designation. She said that “any regime that kills thousands of its own people is working toward its own demise.”

The listing came after the 27-nation bloc sanctioned 15 Iranian officials, including top commanders in its Revolutionary Guard, over the violent crackdown on protesters. Activists say the crackdown has seen over 6,300 people killed.

Published on January 29, 2026



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SC asks States to evolve mechanism to bring domestic workers under minimum wages law

SC asks States to evolve mechanism to bring domestic workers under minimum wages law


Supreme Court
| Photo Credit:
ANUSHREE FADNAVIS

The Supreme Court on Thursday urged State governments to evolve “suitable mechanisms” and take a “final call” on bringing domestic workers under the legal protection and benefits of the Minimum Wages Act and the Code of Wages of 2019.

A Bench headed by Chief Justice of India Surya Kant allowed domestic workers’ unions, led by Penn Thozhilalargal Sangam, to submit comprehensive representations highlighting the grievances of one of the “most exploited” and weakest section of workers across the country.

Senior advocate Raju Ramachandran and advocate Shreya Munoth, for the petitioner unions, submitted that the exclusion of domestic workers from the Schedule to the Minimum Wages Act and/or the Code of Wages violated the fundamental right against forced labour and the right to life.

Ramachandran urged the court to direct State governments to fulfil their constitutional obligations by initiating a process of determining the “minimum wage for domestic work, and to meaningfully engage with and consult domestic workers and their representatives, including the petitioner-unions, as a part of the process”.

The hearing, however, saw the Chief Justice pass caustic oral remarks against the history and role of trade unions in the country.

“How many industries in this country have been successfully closed thanks to these trade unions… Know the realities also. All traditional industries in this country have been affected by trade unions. As children we used to see these industries being closed because of these jhanda unions… They (trade union leaders) do not want to work. They are largely responsible for stopping the industrial growth in this country,” Chief Justice Kant remarked.

The CJI acquitted that there was “undoubtedly, exploitation”. But the top judge that exploitation at workplaces ought to have been stopped through other measures like making workers more aware of their individual rights or making them skilled, etc.

“With utmost respect, let us not generalise and talk of larger issues. Collective bargaining is a valuable right. Today, we are talking about the weakest section, the domestic worker. There are eight crore of them, and most of them are women. They are the most exploited of workers. Their deliberate exclusion results in violation of the most primary of fundamental rights,” Mr. Ramachandran submitted.

The Chief Justice pointed out that bringing domestic workers under a minimum wage bracket may also prove counter-productive for them too. Households may stop hiring them and turn to service providing agencies. The “human bond” between households who treat workers like their own would die.

On the other hand service providers would exploit domestic workers. The Supreme Court recently contracted an agency and the rate agreed upon was Rs. 40,000 for a worker. The women who worked were only given Rs. 19000,” Chief Justice Kant said, disposing of the petitions. 

Published on January 29, 2026



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Niva Bupa Health Insurance posts Q3 net loss of Rs 87.64 crore, gross premium rises 55%

Niva Bupa Health Insurance posts Q3 net loss of Rs 87.64 crore, gross premium rises 55%


The insurer posted an operating loss of ₹135.53 crore in Q3FY25

Standalone health insurer Niva Bupa Health Insurance on Thursday reported a net loss of ₹87.64 crore for the third quarter this fiscal as against ₹13.24 crore net profit for the same period last fiscal.

The insurer posted an operating loss of ₹135.53 crore in Q3FY25 compared with an operating profit of ₹3.41 crore in Q3FY26, according to a stock exchange filing. Net premium written during the period under review grew 22.51 per cent y-o-y at ₹1,766.70 crore from ₹1,152.43 crore in the year-ago period.

The insurer’s expenses of management (EoM) ratio improved to 33.10 per cent from 41.73 per cent in Q3FY25. Combined ratio remained flat at 108.19 per cent as against 108.29 per cent in the same period last fiscal.

Solvency ratio

In the third quarter of FY26 solvency ratio stood at 2.49 compared with 3.03 in the corresponding period of FY25.

On a reported basis (with 1/n accounting impact), the company’s gross written premium (GWP) grew 55 per cent y-o-y to ₹2,231 crore in the third quarter from ₹1,442 crore in the year-ago period.

For the first nine months of the current financial year (9MFY26) GWP stood at ₹5,706 crore, registering a 22 per cent growth y-o-y. The health insurer said its customer base continued to show robust 23 per cent year-on-year growth, with the number of lives insured increasing to 24.5 million as of December, 2025.

Commenting on the results, Krishnan Ramachandran, MD & CEO, Niva Bupa said, “Our Q3FY26 performance reflects the strength of our growth strategy, increasing relevance in the retail health insurance market, and sustained focus on profitability. As we continue to scale responsibly, we remain committed to improving customer outcomes while building a resilient and profitable health insurance franchise.”

Published on January 29, 2026



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