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Petrol Diesel prices touch the high of five years ago when crude was $30 costlier



Petrol Diesel prices touch the high of five years ago when crude was $30 costlier

Petrol and diesel prices have touched a new high, touching the previous record reached five years ago, in 2013. The price of crude oil, said former finance minister P Chidambaram was US$ 105, as compared to US $ 74 now.

Petrol in Delhi was Rs 74.08 per litre on Friday, April 20. Back in September 2013, the price had touched Rs 74.10 a litre. Other metro cities such as Kolkata, Mumbai and Chennai too witness new multi-year highs at Rs 76.78, Rs 81.93 and Rs 76.85 per litre respectively, the Indian Oil website said.

The previous highs in these cities were Rs 78.03 (Kolkata, August 2014), Rs 82.07 (Mumbai, March 2014) and Rs 76.93 (Chennai, July 2014), said media reports.

Diesel prices also touched new record levels on Friday with prices in Delhi, Kolkata, Mumbai and Chennai at Rs 65.31, Rs 68.01, Rs 69.54 and Rs 68.90 per litre respectively.

The rise was attributed to the ongoing supply cut by the Organisation of the Petroleum Exporting Countries(OPEC) combined with a strong demand for crude oil.

Prices of petrol and diesel are now changed on a daily basis unlike the previous norm of fortnightly revision of prices.

Former finance minister and senior Congress leader P Chidambaram, slammed the Modi government over the steep increase in fuel prices and said it has become clueless and floundering and is living off an oil bonanza. In a series of tweets, the former Finance Minister said the BJP boasts that it is ruling 22 states but why does the NDA government refuse to bring petroleum and petroleum products under GST.

“For the last four years, the BJP government has lived off an oil bonanza. Minus the oil bonanza, the BJP government is clueless and floundering. Even a school child knows the answer. It is because of the ‘Tax the Consumer’ policy of the BJP government,” he said.

Petrol, diesel, natural gas, crude oil and jet fuel (ATF) are currently not included in the GST, which essentially leads to producers not being able to set-off tax paid on inputs from final tax on product.

The price payable by the consumer comprises excise duty and VAT which is different for different states.

India News

OYO founder Ritesh Agarwal’s father falls to his death from Gurugram high-rise, days after son’s wedding

According to the reports, he fell from the 20th floor of the building.



OYO founder Ritesh Agarwal's father falls to his death from Gurugram high-rise, days after son's wedding

Hospitality chain OYO founder Ritesh Agarwal’s father Ramesh Agarwal died after falling from a high-rise building in Haryana’s Gurugram on Saturday afternoon. According to the reports, he fell from the 20th floor of the building.

The incident took place at around 1 pm at the DLF’s The Crest Society in Gurugram’s Sector 54. He was immediately rushed to the Paras Hospital for treatment, however, the doctors declared him brought dead.

The police reached the spot as soon as they received the information. At that time, Ramesh Agarwal’s wife, his son, and his daughter-in-law were in the apartment, the officer said, adding no suicide note had been found, and neither had the family complained about the death.

The 30-year-old billionaire issued a statement that reads, With a heavy heart, he and his family would like to share that their guiding light and strength, his father, Shri Ramesh Agarwal passed away on 10 March. He said his father lived a full life and inspired him and so many of us, every single day.

He further wrote, His death is a tremendous loss for their family, adding that his father’s compassion and warmth saw them through their toughest times and carried them forward. His words will resonate deep in their hearts, he added. He requested everyone to respect their privacy in this time of grief.

The tragic incident was reported three days after Agarwal got married to Geetansha Sood, the director of Farmation Ventures in New Delhi. Ramesh Agarwal was last seen at a wedding reception of his son on March 7 at the five-star Taj Palace hotel in Delhi.

The high-profile ceremony was attended by several leading figures including Union Finance Minister Nirmala Sitharaman, Delhi Chief Minister Arvind Kejriwal, Softbank chairman Masayoshi Son and Paytm founder Vijay Shekhar Sharma, among others.

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What is a CVV Number on a Credit Card?



New Debit card and credit card rule

In many instances, the CVV number of a credit card is required while making a transaction online. Get the best credit cards for free with no hidden fees. You’ve probably filled in a CVV, or card verification value, hundreds of times, but have you ever stopped to consider what it is? Know more about “what is the meaning of cvv?”  here.

What is CVV?

A card verification value (CVV) is a three or four digit number on your card that serves as an extra security measure when making purchases online or over the phone. So secure your card number and CVV as this feature also ensures that someone else can’t make a transaction using your card. 

CVVs and their Goals

Although using chip-enabled cards has dramatically reduced the incidence of physical card fraud, thieves have turned their attention to online platforms. Internet-based identity theft has taken over the production of counterfeit cards. Banks and credit card companies utilise CVVs to lower the risk of fraudulent online purchases.

Most debit and best credit cards have a pair of CVVs printed on the back. The first is present on the card’s magnetic strip, while the second is shown on the back of the card for online purchases. You’ll need this to complete your transaction on the web.

Where is the CVV located on your card?

CVV is located inside or just above the signature strip on the back of the card. If you don’t know how to identify if it is a cvv number, just focus on the three-digit code present on the back of the card. It is the standard for Visa and Mastercard cards, but for American Express it is four digits and displayed on the front of the card, just over the company’s emblem.

Are CVVs and PINs the Same Thing?

A “personal identification number” (PIN) is a number chosen by the user. While most financial institutions accept only four-digit PINs, others provide extensive codes. PINs are used for cash withdrawals and purchases on cards. And these PINs are not the same as CVVs. A CVV is a unique number generated by the card issuer for each card.

Is the CVV number different on a replacement card?

The CVV number is a unique identifier and for security reasons it is different when you replace your new credit card apply with an old one. In case your card expires and you need a new one, the bank will issue it, and you’ll get a new CVV code. 

How is CVV generated –

CVVs are not meaningless three or four digit codes. Instead, they are generated by the bank using the primary account number, expiration date in four-digit format and a pair of DES (Data Encryption Standard) keys and a three-digit service code. The specific algorithms employed have yet to be discovered and that’s for the best.

What Can You Do to Safeguard Your CVV?

Like any other sensitive financial information, you should keep your CVV secure to avoid being a victim of credit card fraud. If you want to keep your CVV safe from identity thieves, here are seven easy steps.

  • Install anti-virus software on your PC. This checks for malicious software, including viruses, keyloggers, and other forms of spyware.
  • Create a password for your home WiFi network. If you don’t, anyone in range can access your network, spy on your communications, and steal your data.
  • Keep your financial details to just any website. Websites lacking the prefix “https:” in their address should be avoided, as should any that lack a verifiable SSL lock icon in your browser.  
  • When you’re away from home, use a virtual private network. While utilising a virtual private network (VPN) at home could be considered excessive, it is highly recommended when using a public network or a hotel’s WiFi.
  • Only show someone a photo of your credit card, even close. Your credit card information is vulnerable to fraud.

Credit Card Number Verification Value (CVV) and EMV Chip Cards

Using chip-based debit and credit cards has increased security for in-person transactions at both banks and retailers. Its innovation over the magnetic strip allows the card’s internal code to fluctuate with each scan. To no one’s surprise, this has dramatically helped cut down on fraud.

But what about CNP transactions (card-not-present) like those done over the phone or online? There is a CVV printed on your card since a physical chip would be useless. Even though stores aren’t supposed to save CVVs digitally, the most sophisticated thieves still find ways to get their hands on them.

This issue has a proposed solution known as dynamic CVV, allowing the printed code to vary at regular intervals. This would take place on a tiny screen powered by a lithium battery on the back of the card. This may be a sure thing, but while technology has its benefits, it has challenges. Difficulties arise when choosing the code-change frequency, and the cards would likely cost four to five times as much to manufacture as present models. Yet, the potential fraud cost savings may be sufficient to offset any future increases in manufacturing expenses.

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India News

Adani-Hindenburg row: Supreme Court orders SEBI to finish probe within two months, sets up independent expert panel

Released on January 24, the Hindenburg Research report claimed “brazen accounting fraud” and “stock manipulation” by the Gautam Adani-led group.



Gautam Adani

The Supreme Court on Thursday ordered SEBI to complete the probe into the Adani-Hindenburg row within two months. The Top Court also set up an independent experts committee which will be headed by its retired judge Abhay Manohar Sapre.

The other members of the panel include Nandan Nilekani, KV Kamath, OP Bhat, JP Devdhar, and advocate Somasekhar Sundaresan who have been appointed by a bench comprising CJI DY Chandrachud, Justice PS Narasimha, and Justice JB Pardiwala.

The Apex Court observed that the cases concern the loss of investor wealth over the past few weeks due to a massive decline of Adani group companies following the Hindenburg Research report asked SEBI to examine if there was a violation of market regulations, short-selling norms or stock price manipulation. On February 10, the Court directed the SEBI to suggest measures that could be implemented to protect Indian investors from market volatility.

Read Also: Landmark Supreme Court verdict orders new mode of appointment of Election Commissioners

On February 17, the Supreme Court decided to constitute an expert committee to inspect if the regulatory mechanism needed to be strengthened to protect Indian investors from market volatility showed in the Hindenburg Research report on Adani Group.

Earlier, the bench had refused to accept the names put forth by the Central Government in a sealed cover for inclusion in the proposed committee. The Top Court had said it will select the experts and maintain full transparency as it would amount to a government-constituted committee if they take names given by the government.

Released on January 24, the Hindenburg Research report claimed “brazen accounting fraud” and “stock manipulation” by the Gautam Adani-led group.

Although the report was rejected by the conglomerate as unresearched and maliciously mischievous, it sparked a massive roar and political debates on social media which led to the firm losing over $120 billion in days and forcing the cancellation of a Rs 20,000 crore secondary share sale.

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