Top headlines: Govt hikes MSP on wheat, mustard; Binny new BCCI President

Centre raises wheat MSP by 5.46%; biggest hike kept for mustard, lentils

Just ahead of a pick up in the pace of rabi planting, the Centre raised the minimum support prices (MSP) for all crops, with the biggest increases reserved for mustard and lentils. Whole wheat got a hike of nearly 5.46 per cent for the 2023-24 marketing season, which is the best since 2020-21.

With the hike, the new MSP of wheat will be Rs 2,125 per quintal as against RS 2,025 per quintal earlier. Read more

Ganguly out, Binny in: New BCCI president's task is to steady the ship

Sourav Ganguly handed over on Tuesday the reins of the Board of Cricket Control in India (BCCI) to former all-rounder Roger Binny, 67. Ganguly, 50, is the first BCCI president since 2011 to complete a full three-year term, after a string of controversial resignations and sackings. Read more

Competition for funds drives SBI to hike savings deposit rate by 30 bps

With the competition for attracting funds turning intense, State Bank of India has hiked the interest rates on saving bank deposits by 30 basis points to 3.0 per cent for balances of Rs 10 crore and above.

The interest rates for deposits below Rs 10 crore remain unchanged at 2.70 per cent. The revised rates are applicable from October 15 onwards, the country's largest bank said in a statement. Read more

Centre examining proposal to raise tax on import of palm oil: Report

India is examining whether there is a need to raise palm oil import taxes, government and trade sources said, as part of efforts by the world's biggest vegetable oil importer to help millions of its farmers reeling from lower oilseed prices.

Earlier this year, India abolished the basic import tax on crude palm oil (CPO) to keep a lid on prices. New Delhi continues with a 5% tax known as the Agriculture Infrastructure and Development Cess on CPO imports. Read more