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India's markets regulator proposed on ​Tuesday extending ​the rules that currently govern ​vault managers to cover all physically settled bullion underlying SEBI-regulated products, a move aimed at ‌strengthening oversight ⁠of ⁠the country's digital bullion market.Here are the ​details:The Securities and Exchange Board of India ​has proposed expanding its gold-backed Electronic Gold Receipts (EGR) framework to cover all ​physical bullion underlying SEBI-regulated ⁠products, including ‌bullion exchange-traded funds and ​derivatives, ​according to a consultation paper.⁠Vault managers store physical gold that ​backs electronic gold receipts, which ​investors can trade on exchanges.India is one of the world's largest consumers of gold, and the electronic gold market has expanded in ‌recent years as more investors seek alternatives to holding physical ​bullion.The ​consultation paper ⁠also proposed a circular outlining the framework for EGRs, along with operational guidelines fo...

Archer Aviation shares jumped nearly 10% on Monday after the air-taxi maker agreed to acquire Boeing’s electric aircraft business Wisk Aero and two other units in exchange for a nearly 20% stake in Archer, Reuters reported.The stock opened at $6.41 and traded between $6.08 and $6.87 during the session, climbing as much as 14% in morning trading.The deal also includes drone manufacturer Insitu and airspace-services provider SkyGrid, giving Archer access to Boeing’s autonomous-flight technology and potentially strengthening its position in defence and commercial logistics.Boeing will receive a 19.75% stake in Archer and the right to appoint a director to its board. It will also retain access to Wisk’s technology for its commercial and defence aircraft programmes, Reuters reported.For Boeing, the divestments mark another step towards simplifying its portfolio, focusing on its core commercial-aircraft and defence businesses and scaling back its air-taxi ambitions.Archer, which has yet to g...

New Delhi: Coal stocks at power plants are expected to fall to 24-30 million tonnes (mt) by the end of September from about 37 mt currently, amid lower seasonal dispatch, higher demand during a deficient monsoon and above-normal temperatures, people familiar with the matter said.Coal supplies to thermal power plants have picked up in recent months, even as stocks at generating units have declined from the high levels seen at the start of the financial year because of cooling demand.Stocks at power plants stood at 59.3 mt on April 1, compared with 37.2 mt on August 7.The average number of rakes loaded per day has risen to 436 so far in August from 376 in the corresponding period a year earlier, an official said.133074614"Last year in Q2 average loading was 370 rakes per day, this time it is around 434," another official said.The increase in loading has become more pronounced since June.Average daily loading was 426 rakes in April, 442 in May, 444 in June and 434 in July, compa...

Mumbai: ACME Solar Holdings plans to invest ₹15,000-20,000 crore in expanding its renewable energy business, with a focus on battery energy storage to meet rising demand for reliable, round-the-clock renewable power, chief executive officer Nikhil Dhingra told ET.The company expects the contribution of energy storage to its business to increase from around 25% now as it expands its battery portfolio, Dhingra said, adding that ACME aims to deploy about 10 GWh of battery capacity this year. "Storage will be a primary focus," Dhingra said.ACME also has about 1.5 GW of firm and dispatchable renewable energy (FDRE) capacity scheduled to come up in FY27. These projects will combine solar generation with battery storage, the company said. It has already signed power purchase agreements (PPAs) for about 4,000 MW of FDRE and hybrid projects, while its near-term pipeline stands at more than 5,080 MW.Dhingra said demand for round-the-clock renewable power is expected to remain strong, p...

Bhubaneswar: Senior BJP leader and Sambalpur MP Dharmendra Pradhan on Saturday said attempts were made to "mislead" Gen Z during the protests over the NEET paper leak issue, prompting him to quit as Union Education Minister.Pradhan broke his silence on his resignation while addressing students and teachers at GM University here, exactly two weeks after he stepped down amid massive protests at Jantar Mantar in Delhi over the issue."Gen Z is our children. Some people attempted to mislead them. I had no personal issues then. At least two crore children are born in India every year. During the last 10 years, 20 crore children were born. They have aspirations, and they will make India the 'Vishwa Guru'. The post was not important to me," Pradhan said.He said he had approached Prime Minister Narendra Modi and offered to resign from the Union Council of Ministers.Pradhan resigned from the ministry on July 25.At another meeting in Rairakhol, Pradhan hit out at forme...

from Economic Times https://ift.tt/MKeQWm0