Top headlines: JioMart Express pilot to start, the oil price conundrum

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JioMart Express pilot to start this week as quick deliveries demand rises

Reliance Industries is set to roll out JioMart Express, its instant grocery delivery platform’s pilot, in Navi Mumbai by the end of the week as demand for quick deliveries of items picks up pace. However, the company will not opt for 10-minute delivery, according to a source in the know. The pilot is expected to begin with select numbers in Navi Mumbai and will eventually be rolled out in phases to include the rest of Mumbai and another one or two cities in the next one to two months. Read more

In a first, India opens up central govt procurement market to UAE

In a major shift in its trade policy stance, India has opened up its central government procurement market to the United Arab Emirates (UAE) under the free trade agreement (FTA) signed last month. This will give national treatment status to UAE companies, on a par with Indian companies, while bidding for central government tenders. Read more
 

Oil and trouble: Crude calculations in petrol, diesel prices in India

What could be more uncertain than Virat Kohli’s agonising wait for a century for over two years? Per­h­aps it’s what you will pay tomorrow morning to fill your vehicle’s tank. Pump prices have joined cricket scores as the country’s favourite discussion topic. Steep increases invite widespread protests, while moderate additions make the government anti-reformist. The ongoing fuel price conundrum is no different. Read more

Reliance Jio close to sealing 5G deal with South Korean major Samsung

Reliance Jio is in advanced talks with South Korean consumer electronics and telecom gear maker Samsung for the latter to be its third party technology provider, complementing Reliance Jio’s efforts to roll out a 5G network across the country. Reliance has developed its own indigenous 5G technology which includes the core and 5G radios and plans to launch standalone 5G services - unlike its rivals who will start with non-standalone 5G in which the core of the network will still be on 4G. Read more

For FY23, State Bank of India eyes Rs 10K-cr loan book via co-lending

State Bank of India (SBI) is looking to build a retail loan book of Rs 10,000 crore for personal, micro, small and medium enterprise and agriculture sectors in FY23. It would be done through a co-lending partnership with finance and housing finance companies (HFCs). At present, SBI has 14 such tie-ups, which is set to expand to 25 in FY23. CS Setty, managing director of retail and digital banking at SBI, said in the current financial year, the bank firmed up a policy and internal set up for a co-lending model. Read more