IOC resumes dynamic pricing, petrol near 5-year high in Delhi
New Delhi, May 14 : With the resumption of dynamic pricing system for transport fuels on Monday by the Indian Oil Corporation (IOC), petrol prices in the national capital shot up to 74.80 per litre.
The IOC had suspended dynamic pricing system for transport fuels for 19 days to "avoid creating unnecessary panic among the consumers".
In Delhi, petrol was priced at Rs 74.80 per litre on Monday, highest since September 2013, when it had hit Rs 76.06 a litre. The price was last changed on April 24 when it was at Rs 74.63 per litre.
In the other metropolitan cities of Kolkata, Mumbai and Chennai also petrol prices were at multi-year high levels of Rs 77.50, Rs 82.65 and Rs 77.61 a litre on Monday.
The previous highs in these cities were Rs 78.03 (Kolkata, August 2014), Rs 83.62 (Mumbai, September 2013) and Rs 77.48 (Chennai, September 2013).
Apart from petrol prices, diesel also rose to a fresh record high after the last price movement on April 24. Prices of diesel on Tuesday, in Delhi, Kolkata, Mumbai, Chennai were Rs 66.14, Rs 68.68, Rs 70.43 and Rs 69.79 per litre, respectively.
Prices did not change in the last 19 days, despite rise in international crude oil prices, which observers cited as a deliberate political move ahead of Karnataka polls. Brent crude oil is currently priced over $76 per barrel.
However, IOC Chairman Sanjiv Singh on May 8, said the dymanic pricing was suspended temporarily despite a rise in international rates, to avoid panic among consumers.
"We have decided to temporarily moderate retail prices by not passing on the required increase as we believe the current international oil product prices are not supported by fundamentals. So we have decided to wait for a while," Singh had said, adding: "Passing them on to consumers will unnecessarily create panic."
This temporary relief to consumer seems to have come to an end with the rise in prices on Monday.
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Fraudster creates fake email ID of Navi Mumbai police, directs banks to freeze accounts
Thane (PTI): A case has been filed against an unidentified person for allegedly creating a fake email ID in the name of the Navi Mumbai police's cyber cell and instructing banks to freeze targetted accounts, a senior official said on Tuesday.
The fraudulent activity came to light when a bank recently approached the cyber cell to verify the authenticity of an email it had received, he said.
On verification, it was found that the email was not sent by the cyber cell, the official said, adding that investigations revealed that multiple banks were sent such emails.
"The accused had carefully made a fake email address resembling the official communication channel of the cyber cell and used it to mislead multiple banks, asking them to freeze certain customer accounts under false pretences," he said.
The official said a first information report was registered under sections 318(1) (cheating), 336 (forgery) and other relevant provisions of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology (IT) Act.
He said a probe is currently underway to trace the accused.
