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Hindustan Times
a day ago
- Health
- Hindustan Times
Plastic ban falls flat at bhandara events
Days before the World Environment Day on June 5, the city displayed a flagrant disregard for environmental rules with the rampant use of single-use plastic items by the hundreds of bhandara organisers on Tuesday. Based on the figures provided by the waste collection agencies, it is safe to assume that the city generated several tonnes of banned plastic in just a day. Despite Lucknow Municipal Corporation's (LMC's) efforts to promote eco-friendly practices during the ongoing Bada Mangal festivities, the overt use of plastic cutlery also showcased the authorities' inefficiency in implementing the rules, a major part of which is also because of their easy availability. On Tuesday alone, the agencies collected 120 metric tons of surplus waste from 293 registered bhandara events. While the agencies only had the data for this Tuesday, they said a similar amount of waste must have been generated on the last four Bada Mangal days as well. As many as 314 and 376 organisers had registered their events during the festivities held on May 27 and 20, respectively. The nationwide ban on plastic plates, cups, and other cutlery, which remain commonplace at many bhandara events and lead to streets being littered with non-biodegradable waste, has been in effect since July 2022. These reporters visited multiple bhandara events organised in the city on the day and witnessed several lacunas in enforcement. Most organisers continued to use the prohibited plastic items, undermining LMC's 'zero-waste' objectives. While several were found to be using paper plates and bowls to serve food, they served water and juices in plastic cups. Even spoons and bottles offered to devotees were made of plastic. The lack of affordable eco-friendly alternatives was a major reason for this blatant violation, they said. Despite dustbins installed at many places, devotees were seen littering the streets. 'Plastic cups cost only half as much as their eco-friendly counterparts. It is not affordable for everyone to buy paper cups in thousands,' said Satish Mishra, who had set up a stall at Vibhuti Khand. 'We buy plastic items because they are easily available in the market. If the administration wants to ban them, it should then first ban their production and sale,' said Dinkar Soni, the organiser of a bhandara near Bhootnath market. Meanwhile, LMC has already notified all bhandara organisers to mandatorily register their events and adhere to zero-waste protocols. These protocols include the installation of separate bins for biodegradable and non-biodegradable waste. However, hardly any location was equipped with such separate dustbins. Surplus garbage Abhay Ranjan, the regional head of a private firm handling waste collection in five city zones, said garbage generation shot up by 100 MT on the days when bhandara events were organised. 'We usually collect 1,400 MT of waste daily. On Tuesdays, this rises to 1,500 metric tons due to bhandara and associated activities,' he noted. Another company managing waste collection in the other three zones reported the collection of a surplus 15–20 MT of waste on Tuesday. 'Fortunately, several shops remained shut, making waste collection slightly easier,' one of its officials added. 'People who don't inform us [about the events] are either managing waste on their own or dumping them on the roads. Our vehicles collect them later,' said an LMC official. 40% events unregistered As many as 293 bhandara events were organised on Tuesday, as per official figures. LMC, which only issued an advisory requesting the public to refrain from using single-use plastic on Tuesday after four Bada Mangal days, was yet to launch any enforcement drive to check the use of plastic at these events. Officials admitted that nearly 40% of bhandara events being organised were unregistered. The registrations were mandated to improve waste collection and management. LMC environmental engineer Sanjeev Pradhan said: 'No special enforcement drive has been carried out during bhandara programmes. We haven't issued any fines for the violations.' Pradhan added LMC collected around ₹17 lakh in fines during anti-plastic drives carried out in several zones in this financial year, so far. LMC chief Gaurav Kumar acknowledged the lapses and said: 'I've instructed all eight zonal incharges to inform bhandara organisers not to use plastic, and to submit a compliance report by the evening.'
Economic Times
2 days ago
- Business
- Economic Times
RBI cuts dollar positions and infuses rupee liquidity
This, economists suggest, is the reason why the central bank continued to conduct OMOs, especially in May, despite surplus liquidity. Synopsis The Reserve Bank of India has reduced its net short dollar positions in the forward market, dropping to $52.4 billion in April from $78 billion in February. To counter the impact, the RBI is infusing rupee liquidity through open market operations. Mumbai: The Reserve Bank of India (RBI) has started cutting its forward positions and countering its impact by infusing durable rupee liquidity via open market operations (OMOs). The central bank's total net short dollar position in the forward book fell to $52.4 billion in April from a peak of $78 billion in February, latest data showed. ADVERTISEMENT Most of the positions-72% of the total book-were in the three months to one year segment, with forwards of $37.7 billion, while forwards in up to three months stood at $14.7 billion. "The larger than expected OMOs which happened was because the RBI was expecting these forwards to mature and not be rolled over," said Kanika Pasricha, chief economic advisor at Union Bank of India. The RBI's spot interventions in the forex market entail changes in domestic liquidity conditions, which may require "sterilisation" of such interventions, said the central bank's annual report published on May 29. Expectations of maturing of positions changed as system liquidity turned surplus from April. Economists are expecting short positions of up to one month to mature, from earlier expectations of rollovers. "We can see that about $7.4 billion of positions are in the 'up to one month' tenure, and are due for maturity in May. My expectation is that the RBI will allow this $7.4 billion to mature next month," Pasricha said. This, economists suggest, is the reason why the central bank continued to conduct OMOs, especially in May, despite surplus liquidity. (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
Economic Times
27-05-2025
- Business
- Economic Times
Stock market update: Nifty Realty index advances 0.53% in a weak market
Nagaraj Shetti, Technical Research Analyst at HDFC Securities, believes Monday's pattern could be considered as a High Wave, which reflects high volatility in the market at swing highs. Synopsis The Nifty Realty index was trading 0.53 per cent up at 949.0. NEW DELHI: The Nifty Realty index traded positive around 10:56AM(IST)on Tuesday in a weak market. ADVERTISEMENT Macrotech Developers Ltd.(up 1.87 per cent), Raymond Ltd.(up 1.28 per cent), Oberoi Realty Ltd.(up 0.79 per cent), Phoenix Mills Ltd.(up 0.46 per cent) and DLF Ltd.(up 0.42 per cent) were among the top gainers. Prestige Estates Projects Ltd.(down 1.01 per cent) and Sobha Ltd.(down 0.11 per cent) were the top losers on the index. The Nifty Realty index was up 0.53 per cent at 949.0 at the time of writing this report. Benchmark NSE Nifty50 index was down 219.91 points at 24781.25, while the BSE Sensex was down 807.04 points at 81369.41. Among the 50 stocks in the Nifty index, 11 were trading in the green, while 39 were in the red. ADVERTISEMENT Shares of Vodafone Idea, Reliance Power, Suzlon Energy, IFCI and InterGlobe were among the most traded shares on the NSE. Shares of Apollo Micro Systems, Camlin Fine Sc, Stampede Cap(DVR), Cosmo Films and GE T&D India hit their fresh 52-week highs in today's trade, while Godha Cabcon & Insul, Tantia Const, Impex Ferro Tech, Shree Ram Proteins and Protean eGov Techno hit fresh 52-week lows in trade. (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
Economic Times
23-05-2025
- Business
- Economic Times
IndusInd stock climbs despite setback, but road ahead looks rocky
Concerns around asset quality, governance and CEO succession still persist. Synopsis IndusInd Bank shares recovered slightly despite reporting its first quarterly loss in two decades, yet analysts remain wary. Brokerages have cut earnings estimates, citing concerns about governance, asset quality, and the upcoming CEO transition. While some see potential value, a broader consensus anticipates a slow and uncertain turnaround for the bank. Mumbai: Shares of IndusInd Bank rose 1.8% to ₹785 Thursday, rebounding from early lows, as investors took the lender's first quarterly loss in 20 years in their stride. The stock was down 5.8% earlier in the day Analysts, however, remain cautious. Most brokerages have slashed earnings estimates and flagged concerns over governance, asset quality, and CEO succession. While a few see value if recovery takes hold, the broader view warns of a slow, uncertain turnaround. ADVERTISEMENT UBS Sees significant uncertainty around the bank's future. Warns of a potential drop in valuation due to multiple unresolved risks. Morgan Stanley Worst-case scenario is already unfolding. Slow and painful earnings recovery, with a weakening high-return loan mix. ICICI Securities Weak core profitability even after adjusting for one-offs. Expects low loan growth and high credit costs, which will pressure return ratios. ADVERTISEMENT CLSA 'A quarter to forget' with a ₹22billion loss from fraud, underperformance, and one-offs. Microfinance book stress remains elevated. HSBC ADVERTISEMENT Bank has reverted to pre-2009 quality levels. Recovery path is unclear. Jefferies ADVERTISEMENT Clean-up was deeper than expected. CEO transition as a critical factor for future recovery. Macquarie Stock is undervalued if the worst is over. Concerns around asset quality, governance and CEO succession still persist. (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
Economic Times
22-05-2025
- Business
- Economic Times
Singapore could enter technical recession, trade ministry official says
The Monetary Authority of Singapore maintains current policy settings, following policy easing in January and April. Synopsis Singapore may enter a technical recession with two consecutive quarters of contraction, but a full-blown recession is not certain, according to Trade Ministry Permanent Secretary Beh Swan Gin. Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains How Pi42 is simplifying crypto trading: CTO Satish Mishra on integrating technical & fundamental insights NEXT STORY
