
This Russian company operates 6,750 petrol pumps across India, now announces MAJOR plan to invest Rs 700000000000, the company is...
Nayara said that while many European countries continue to import Russian energy through various channels, the EU is punishing an Indian company that only processes Russian oil. Rosneft owns a 49.13 per cent stake in Nayara Energy, which was earlier known as Essar Oil Limited.
In a statement on Monday, the company said it is actively exploring all legal options and that it will counter the EU's decision, which it claims undermines India's sovereignty and disregards global norms. Company runs a major oil refinery in Gujarat
Nayara Energy operates a large oil refinery in Vadinar, Gujarat, with a capacity of 20 million tonnes per year. The company also runs over 6,750 petrol pumps across the country.
A private investment group named Kesani Enterprises owns 49.13 per cent of Nayara. Kesani itself is backed by two Russian firms, United Capital Partners (UCP) and Hara Capital Sarl.
Recently, there have also been reports suggesting that Rosneft may be planning to sell its stake in the refinery and exit the project.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Deccan Herald
5 minutes ago
- Deccan Herald
State revenues falter, borrowings dominate in Andhra, Telangana during first quarter
Telangana's own revenues stood at Rs 37,221.80 crore during the April–June quarter, amounting to 16.20 per cent of the budgeted Rs 2,29,720.62 crore for FY 2025-26.
&w=3840&q=100)

First Post
5 minutes ago
- First Post
From aspiration to agency: India redefines its global role
India seems to have resolved a complex arithmetic: diplomacy without submission, trade without compromising sovereignty, tech engagement that does not sacrifice agency, and multilateralism that negotiates interest, not ideology read more It is not the India of aspiration alone; it is the India of agency, reframing between autonomy and engagement, between principle and pragmatism. File image/ AP In the rapidly shifting global political architecture, few nations stand at as pivotal a juncture as India, caught in the confluence of normative aspirations, strategic autonomy, economic opportunity, and diplomatic realignment. From international tech rule‑setting to high‑stakes trade negotiations, from balancing sanctions pressure to recalibrating relations with China, the past few weeks have made clear that it's India's real moment. This is not mere reactivity but about India stepping forward to set the narrative, even under the weight of great power tensions and domestic imperatives. STORY CONTINUES BELOW THIS AD Take the sharp warning from Nato Secretary‑General Mark Rutte, a diplomatic salvo that carries real consequences. In statements delivered in Washington and to Congress, Rutte emphasised that 'secondary sanctions', including tariffs up to 100 per cent, could be deployed against major economies like India, China, and Brazil should they continue to trade with Russia. The intent: leverage global economic ties to pressure Moscow toward a peace settlement over Ukraine. The declaration is a clear signal that India's commercial engagements are being scrutinised through the lens of Western security priorities. Delhi's swift rebuke, citing 'double standards' and asserting its sovereign right to conduct its trade, reveals India's determination to resist external dictates, even as it shoulders the complexity of geopolitical entanglements. Yet, this episode does not simply reflect Indian defiance. Rather, it underscores a rare and consequential exercise of normative sovereignty. India is not tethered to any bloc; it takes pride in being a multi-aligned and principled actor. Domestic energy security demands, its long‑standing commitment to global South solidarity, and cautious calibration with both West and East place it in a strategic sweet spot or jeopardy, depending on perspective. When Rutte urged these countries to 'make the phone call to Vladimir Putin' or face sanctions, he emphasised pressure, but India refused to be boxed into Western frameworks, opting instead for a calibrated diplomacy. This is not a retreat; this is self‑definition in action. World Trade Organisation (WTO) reform, gaining traction ahead of the Cameroon Ministerial, is another arena where India is quietly influencing multilateral rules. Talks now hinge on thorny compromises: easing 'consensus' gridlocks, demanding proof for industrial subsidies, and revisiting the special status of countries like India and China. STORY CONTINUES BELOW THIS AD Pushed by the US and Europe to revive a stalled WTO, these shifts could undermine developing country carve-outs. While India remains restrained, its backroom diplomacy is active. The challenge lies in securing meaningful exceptions without stalling reform, testing not just India's trade stance but also its broader role in global rule-making. This is more about realigning trade with development than resistance. At the same time, New Delhi finds itself on the cusp of a potentially transformative bilateral trade agreement with the US, ahead of a hard August 1 US tariff deadline. An article of faith in India's political economy has been bilateralism as an antidote to protectionism, and Washington has signalled expansiveness: from high‑tech to supply‑chain resilience. Yet this is no yawning liberal fixture; it is a negotiation circumscribed by domestic concerns on both fronts. For India, offering tariff concessions or regulatory liberalisation might invite debate around industrial policy and food sovereignty; for the US, access to Indian markets must be matched by deeper procurement commitments and intellectual property standards. If last week's Nato‑sanctions episode underscores Indian autonomy, this trade narrative highlights its readiness to play a constructive, collaborative role, so long as reciprocity and national interest underpin any deal. STORY CONTINUES BELOW THIS AD Meanwhile, India's pivot toward China, marked by Jaishankar's first visit to Beijing since the 2020 standoff, is a calculated move. At the SCO summit, his meeting with Wang Yi focused on de-escalation, a border resolution, and reviving trade minus 'restrictive measures'. China called normalisation 'hard-won', underscoring mutual interest in quiet diplomacy and regional stability. Beneath the optics, India is asserting agency: addressing boundary disputes, restoring critical supply chains, and preserving open trade. It's a calibrated framework—friendship without illusion, cooperation without compulsion. Now, juxtapose these developments with India's stealth campaign in global AI norm‑setting. While less visible to the world's press, New Delhi has been earnest, partaking actively in the Unesco‑led 2025 AI Action Summit and championing inclusive, transparent, and sustainable AI frameworks. Internally, the government's Shinrin hush, its hallmark IndiaAI mission, has enabled the creation of the India AI Safety Institute and the public‑sector BharatGen model, announced earlier this year. This reflects a coherent, outward‑looking narrative: one where India is not merely a consumer of Western AI but a producer and ethical interlocutor in its own right, framing a normative trajectory for the Global South. STORY CONTINUES BELOW THIS AD This junction of AI, trade, sanctions, and diplomacy reveals an Indian posture defined by complexity rather than simplification. India is neither a protectable emerging market nor a fearful collateral of competition; it is instead a multifaceted actor shaping its lane, steering norms, and anticipating friction. If India is being squeezed by trade reform at the WTO, by diplomatic pressure over Russia, and by bilateral negotiations with large economies, it is responding with a choreography of normative offers, negotiation discipline, and diplomatic nuance. Strategic autonomy is no longer a slogan; it is a tactical posture. India's message comes across loud and clear: we will trade responsibly, not opportunistically; we will engage in global initiatives, not deflect them; we will assert our interests, not surrender them. This posture is especially critical because India's multilateral footprint is expanding with institution‑shaping spaces. In 2025, it has convinced even sceptics that its voice is consequential and its initiatives, from AI safety to trade alliances, are worth centralising. STORY CONTINUES BELOW THIS AD None of this is without strain. The geo‑economic environment is a maze of competing pressures: pressure to align with Western sanctions regimes, to commit to bilateral trade deals, to accelerate AI governance, and to stabilise border diplomacies. But India seems to have resolved a complex arithmetic: diplomacy that does not buy influence with submission, trade that does not cost sovereignty, tech engagement that does not sacrifice agency, and multilateralism that negotiates interest, not ideology. The key test lies ahead: can India engineer a degree of coherence across ministries, Commerce, Finance, External Affairs, and IT? Can it manage stakeholder friction between business communities aligned to greenhouse tech corridors and those tied to legacy energy relations with Russia? Can it maintain credibility on the world stage while cultivating domestic legitimacy? These questions are not rhetorical; they are strategic deadlines directed at policymaking systems, where alignment and execution define success. Ultimately, this is more than policy choreography; it is India redefining its global centre of gravity. When the US Congress debates whether India is aligned enough to merit exemption from sanctions, Delhi's internal coordination across diplomatic, economic, and strategic lines becomes part of its national security calculus. STORY CONTINUES BELOW THIS AD When WTO multilateralism teeters, India can offer constructive reform, leadership or resistance. When AI norm debates emerge, India doesn't merely have a seat; it has proposals. India projects the kind of policy confidence few states of its standing enjoy. India stands assertive, multi‑alignment‑centric, normatively engaged, and institutionally responsive. It is not the India of aspiration alone; it is the India of agency, reframing between autonomy and engagement, between principle and pragmatism. Amal Chandra is an author, political analyst and columnist. He posts on 'X' at @ens_socialis. Views expressed in the above piece are personal and solely those of the author. They do not necessarily reflect Firstpost's views.


Time of India
5 minutes ago
- Time of India
FD rate up to 8.50%: List of banks offering above 8% to senior citizens
Highest bank FD interest rate for senior citizens Academy Empower your mind, elevate your skills Bank Name Interest Rates (p.a.) Highest slab % Tenure SMALL FINANCE BANKS AU Small Finance Bank 7.6 2 years 1 day to 3 years Equitas Small Finance Bank 8.2 888 days ESAF Small Finance Bank 8.1 444 days Jana Small Finance Bank 8.25 Above 1 year to 3 years slice Small Finance Bank 8.5 18 months 1 day to 18 months 2 days Suryoday Small Finance Bank 8.4 5 years Ujjivan Small Finance Bank 8.1 2 years Unity Small Finance Bank 8.25 1001 days Utkarsh Small Finance Bank 8.5 2 years to 3 years Are Small Finance Banks covered under DICGC? How safe are Small Finance Banks for FD investments? Current TDS rules on FD investment At a time when most banks are lowering their fixed deposit (FD) interest rates, there are still banks offering higher interest rates on FDs especially for senior citizens investors. Major commercial banks have slashed FD rates below the 8% per annum, however, several small finance banks continue to offer FD interest rates of 8% and above exclusively for senior citizens. These special rates are available for select tenures and offer a safe investment avenue with assured Wealth online has list out the names of the banks that are offering FD interest rate up to 8.50% to the senior citizens. Utkarsh Small Finance Bank is offering 8.25% interest rate on FD of 2 years (730 Days) upto 3 years (1095 Days). Jana Small Finance Bank is offering 8.25% interest rate on FD for tenure between 1year to 3 Small Finance Bank is offering up to 8.25% interest rate on FD tenure of 1001 Small Finance Bank is offering 8.50% interest rate on FD for 18 months 1 Day to 18 months 2 day tenure for senior Paisabazaar data. Rates as on July 22, 2025 Just make sure highest rate is above and lowest of 8% above at depsoitors are hesitant to invest in fixed deposits because they are not sure if the FD deposits are insured. According to current rules, deposits under small finance banks are insured up to Rs 5 lakhs just like private and public sector banks under Deposit Insurance and Credit Guarantee Corporation DICGC, a subsidiary of the to the AU Small Finance Bank website, 'Like all banks in India, the RBI governs and monitors SFBs. As a result, all regulations associated with banking, such as Statutory Liquidity Ratio Requirements and Cash Reserve Ratio Requirements also apply to them. Further, the RBI lays out guidelines or rules like Eligibility Criteria and Mandatory Promoter Contribution for SFBs.'From April 1, 2025, the TDS rules on FD investments applicable for senior citizens are revised. According to latest laws, tax on FD investments will be deducted if the interest income earned by the senior citizen exceeds Rs 1 lakh in the financial year. In case of general citizens, tax on FD interest will be deducted if the interest earned by general public exceeds Rs 50,000 in a financial year.