• The Petrol price on Nov 4 was cut in the range of Rs 5.7 to Rs 6.35 per litre across the country and diesel rates by Rs 11.16 to Rs 12.88 as oil companies passed on a record reduction in excise duty rates to consumers.

• Buckling under pressure, the government had on Nov 3 cut excise duty on petrol by Rs 5 per litre and that on diesel by Rs 10 a litre to give reprieve to consumers battered by record high retail fuel prices.

• Since states charge local sales tax or VAT not just on the base price but also on the excise duty levied by the Centre, the total incidence of price reduction is higher.

• The reduction was larger in states with higher VAT.

• In Delhi, the reduction in petrol price was Rs 6.07 per litre and that on diesel was Rs 11.75, according to a price notification of state-owned fuel retailers.

• The lowest reduction in petrol price was in Dadra and Nagar Haveli and Daman and Diu where rate was cut by Rs 5.7.

• Rajasthan saw the biggest drop of Rs 6.35 a litre.

• For diesel, Chennai had the lowest reduction of Rs 11.16 per litre while Odisha had the biggest at Rs 12.88 a litre.

• Puducherry saw an additional Rs 7 a litre reduction in both petrol and diesel price because of the cut in value added tax (VAT).

• Goa saw an additional Rs 5.47 a litre cut in petrol and Rs 4.38 on diesel.

• Gujarat too had an additional reduction of Rs 5.65 a litre on petrol and Rs 4.32 on diesel.

• Uttarakhand saw an additional 81 paise reduction in petrol price because of VAT cut.

• Uttar Pradesh, Karnataka, Tripura and Bihar too have announced VAT reduction

• VAT rates differ from state to state, leading to differential rates of fuel.

• Barbara-Rose Collins, who represented Detroit in Congress and served on its City Council, has died after contracting COVID-19. She was 82.

• Barbara-Rose Collins, a Democrat, was elected to the U.S. House in 1990 after eight years on the City Council. She was defeated for reelection to Congress in 1996 by Carolyn Cheeks Kilpatrick.

• She was elected again to the council in 2001 and served until 2009 when she did not seek reelection.

• In 1974, Collins was elected to the Michigan House of Representatives where she served three terms.

• Collins was born in Detroit and graduated in 1957 from Cass Technical High School, according to her U.S. House biography.

• She attended Wayne State University in Detroit, majoring in political science and anthropology.

• Los Angeles Mayor Eric Garcetti, nominated by US President Joe Biden as the country's next ambassador to India, has tested positive for COVID-19 while participating in the UN climate conference in Scotland.

• The 50-year-old mayor, who is fully vaccinated, tested positive in Glasgow, Scotland, where he had been attending a United Nations conference on climate change

• The COP-26 is being held from October 31 to November 12 in Glasgow under the presidency of the UK which is partnering with Italy for the event.

• Prime Minister Narendra Modi attended the World Leaders' summit of the 26th Conference of Parties (COP-26) to the United Nations Framework Convention on Climate Change (UNFCCC) at the invitation of his British counterpart Boris Johnson.

• In July, US President Biden nominated Garcetti, who has been the Mayor of the City of Los Angeles since 2013, as his ambassador to India.

• If confirmed by the Senate, Garcetti would replace Kenneth Juster, who served as India's Ambassador to the US during the Trump administration.

• After being nominated, the mayor said that he was honoured to accept the nomination and will bring the same energy, commitment and love with which he served the sprawling city to his new role in the world's largest democracy.

• He has travelled several times to India, most recently as a councilman.

• In college, he spent a year studying Hindi and Urdu.

• Air India has to pay outstanding dues of Rs 2,000 crore to the Airport Authority of India (AAI) related to landing, parking and other charges, said the Chairman of AAI Sanjeev Kumar.

• Recently, the Centre successfully disinvested a 100 per cent stake to Tata Sons of Air India, but pending dues by Air India need to be noted to the new owner.

• Talace Pvt Ltd, a wholly-owned subsidiary of Tata Sons, has won the bid for acquiring Air India, marking the end of the process to privatise the national carrier with the government approving its disinvestment.

• The CCEA-approved Air India Specific Alternative Mechanism (AISAM) approved the highest price bid of Talace Pvt Ltd for the sale of 100 per cent equity shareholding of the Government of India in Air India along with equity shareholding of Air India in AIXL and AISATS. (ANI)

• West Indies all-rounder Dwayne Bravo will hang his boots at the end of the ICC T20 World Cup.

          that he will be drawing the curtains on his international career after the showpiece event

·       The state-run Bank of India  has  reported nearly 100 per cent jump in its net profit at Rs 1,051 crore in quarter ended September 2021.

·       The bank had posted net profit of Rs 526 crore in the same period a year ago. On a sequential basis, net profit improved by 45.97 per cent from Rs 720 crore.

·       Net interest income (NII) stood at Rs 3,523 crore for the quarter Q2FY22. On a sequential basis, it increased by 12.06 per cent from Rs 3,144 crore in quarter ended June 2021 .

·       The billionaire Mukesh Ambani's Reliance Jio has become the first operator to bring mobile connectivity to Demchok in eastern Ladakh with the start of its 4G voice and data services in the border village.

·       Jamyang Tsering Namgyal, Member of Parliament from Leh, inaugurated Jio mobile tower in Demchok and dedicated 4G services to the people of the border village, Army, ITBA, and travellers.

·       Besides Demchok, 4G services were also inaugurated at the border village of Chushul, Nyoma Tharuk and Durbuk in Ladakh.

·       Union Bank of India  has  reported a 183% jump in its consolidated net profit to Rs 1,510 crore for the September  quarter,  driven by recovery from the DHFL account that was written off earlier. The net profit was Rs 533.87 crore in the same quarter last year.

·       The bank’s core net interest income grew 8.52% to Rs 6,829 crore on a loan growth of about 3% and an expansion in net interest margin to 2.95% as against 2.78% in the year-ago period. The non-interest income during July-September 2021 grew 65.32% to Rs 3,978 crore, mainly on the back of a Rs 1,764-crore recovery in written-off accounts.