Tinsukia/Indore (Madhya Pradesh): Indian Oil, India’s leading energy provider, rolled out a brand new M15 Petrol (15% blend of methanol with petrol) at the Assam Agencies in Tinsukia on Saturday. The pilot rollout of the M15 was done by the state minister for petroleum and natural gas, and labour and employment Rameswar Teli.
Niti Aayog member VK Saraswat, Indian Oil chairman SM Vaidya and Assam Petrochemicals Limited chairman Bikul Deka, along with other senior officials of the oil industry, were present.
In its effort to reduce the consumption of fossil fuels, the Government of India has envisaged an ambitious roadmap for the energy sector with a greater focus on the methanol economy. Accordingly, as envisaged by Niti Aayog and in line with the philosophy of making India self-sufficient in energy requirements, the rollout of M15 petrol has been taken up by Indian Oil on a pilot basis.
Bank of Maharashtra Q4 net jumps 115% to Rs 355 crore
The Bank of Maharashtra’s (BoM’s) net profit has soared 115 per cent year-on-year (YoY) in the fourth quarter (Q4). This was achieved due to healthy growth in net interest income, a steep decline in loan loss provisions and the reversal of provisions for standard/ restructured assets.
The Pune-headquartered public sector bank logged a net profit of Rs 355 crores (Rs 165 crores in the year-ago period) whereas net interest income also increased by about 17 per cent YoY to Rs 1,612 crores (*Rs 1,383 crores). The bank’s deposits were up about 16 per cent YoY to stand at Rs 202,294 crores as at end-March 2022 (Rs 174,006 crores as of end-March 2021).
BoM’s MD and CEO Rajeev said he expected a 16-18 per cent growth in advances and 13-15 per cent growth in deposits in FY’23.
