Top headlines: PMC Bank depositors kept waiting, US set to release oil

Cabinet secy-led panel to take call on more allocation to PLI pharma; After farm Acts' repeal, govt may table seeds Bill in Winter Session. More in today's top headlines

To tame prices, the US is likely to announce the release of oil from its Strategic Petroleum Reserve along with India, Japan, and South Korea. More on that in this morning's top headlines.

US set to release oil from reserve

President Joe Biden is preparing to announce a release of oil from the nation’s Strategic Petroleum Reserve in concert with several other countries as soon as Tuesday, according to people familiar with the plan. Read more

Ambani looks to USA's Walton family playbook on succession: Report

For years, Mukesh Ambani has studied the ways in which billionaire families, from the Waltons to the Kochs, passed on what they’d built to the next generation. Recently, that process has intensified, with Asia’s richest man eyeing a blueprint for the next stage of his $208 billion empire that seeks to avert the succession warfare that’s torn apart so many wealthy clans — including his own. Read more

Cabinet secy-led panel to take call on more allocation to PLI pharma

A panel headed by Cabinet Secretary Rajiv Gauba will examine allocating more funds towards vaccine production to boost manufacturing production-linked incentive (PLI) scheme. Read more

After farm Acts' repeal, govt may table seeds Bill in Winter Session

The Centre, after the repeal of the farm Acts, may bring in another important piece of legislation concerning farmers in the form of the long-pending Seeds Bill.

This will be in the forthcoming winter session of Parliament. Read more

With Rs 7,000 cr stuck, over 20k PMC Bank depositors play waiting game

The draft amalgamation scheme of Punjab and Maharashtra Co-operative (PMC) Bank with Unity Small Finance Bank (SFB) allowed quick relief to depositors with savings of up to Rs 5 lakh, but a long wait for those who had their nest egg with the scam-tainted bank. Read more