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Mother Dairy to raise milk price by Rs 2 from Tuesday; fifth hike in 2022

mother dairy

New Delhi: Mother Dairy will raise the price of its full cream milk offerings from Rs 64 per litre to Rs 66 per litre in Delhi and the National Capital Region (NCR).
The revised price point, announced on Monday, will come into effect from Tuesday. However, there would be no revision in the retail price of cow milk and token milk variants.
This is the fifth upward revision in milk prices, an essential food item, in 2022. The earlier revisions were done in March, August, October, and November.
“It is an unprecedented year for the dairy industry. We have been witnessing a significant increase in demand of milk and milk products from both consumers and institutions, even after festivals. On the other hand, procurement of raw milk has also not picked up after Diwali as was anticipated. The procurement prices of raw milk have gone up by about 24 per cent over last year due to higher input costs, heatwave conditions, etc,” read a statement from a Mother Dairy spokesperson.

Also Read: Nirmala Sitharaman Admitted To AIIMS

“This stress on raw milk prices is being felt across the industry, putting pressure on consumer prices. In our commitment to continue paying remunerative prices to farmers to ease the impact, we are severely constrained to revise consumer prices of select variants of milk in Delhi NCR, effective from December 27, 2022. As a responsible organisation, we have always endeavoured to strike the right balance between farmers and consumers. Therefore, we have been passing the increased input cost to our consumers partially on select variants/SKUs and in a phased manner,” the spokesperson said.

(Except for the headline, this story has not been edited by HW News staff and is published from a syndicated feed.)

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ICICI Bank-Videocon case: CBI seeks three-day custody of Videocon chairman, Chanda and Deepak Kochhar

ANI
Chanda Kocchar Deepak Kocchar

New Delhi: Videocon chairman Venugopal Dhoot, former MD and CEO of ICICI Bank Chanda Kochhar and her husband Deepak Kochhar were brought to CBI court on Monday in connection with the ICICI Bank-Videocon loan fraud case.
CBI has sought the custody of the Videocon chairman for three days and of the couple for three more days.
The CBI advocate said they have sought custody as they want to confront ‘all’ of them.
Earlier today, CBI arrested Videocon chairman Venugopal Dhoot, co-accused in the ICICI bank money laundering case.
On Saturday, CBI got a three-day remand of the couple in the case. Now, they have sought a remand for three more days. The CBI advocate said that they “We want to confront all of them”.
The CBI arrested the couple on Friday in connection with the alleged ICICI Bank-Videocon money laundering case.
The case is related to the alleged irregularities and corrupt practices in the sanction of a Rs 1,875 crore loan disbursed by ICICI Bank to the Videocon Group between 2009 and 2011.

Also Read: Chanda Kochhar: From Padma Bhushan To Jail

During its preliminary enquiry, the CBI found six loans worth Rs 1,875 crore were sanctioned to the Videocon Group and companies associated with it between June 2009 and October 2011 in an alleged violation of laid-down policies of ICICI Bank, which are part of the probe.
The agency has said that the loans were declared non-performing assets in 2012, causing a loss of Rs 1,730 crore to the bank.

(Except for the headline, this story has not been edited by HW News staff and is published from a syndicated feed.)

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