Freeze on fuel prices hike coincidental, says IOC chief

Freeze on fuel prices hike coincidental, says IOC chief

Indian Oil Corporation (IOC) Chairman Sanjiv Singh today said the decision of oil PSUs not to hike petrol and diesel prices since April 24 was aimed at stabilising them and it ‘incidentally’ coincided with Karnataka elections.

Higher oil prices will widen CAD, RBI may issue NRI bonds: BofA-ML

Higher oil prices will widen CAD, RBI may issue NRI bonds: BofA-ML

India’s current account deficit (CAD) is set to widen due to higher oil prices which could lead to the Reserve Bank of India (RBI) issuing a fresh tranche of NRI bonds to shore up its foreign exchange reserves, Bank of America-Merrill Lynch (BofA-ML) India economist Indranil Sen Gupta said in a note on Thursday.