Hyderabad, October 28, 2025:

Mangalore Refinery and Petrochemicals Limited (MRPL), a subsidiary of ONGC and a leading Category-I Miniratna Central Public Sector Enterprise (CPSE) under the Ministry of Petroleum and Natural Gas, has achieved yet another milestone. The company has won the Innovation Award 2024-25 for Best Innovation in Research & Development in Refining Technology at the 28th Energy Technology Meet (ETM 2025) held in Hyderabad.

This marks MRPL’s fourth consecutive victory at these prestigious national awards, reaffirming its position as a pioneer in indigenous innovation within India’s refining sector.

The award recognizes MRPL’s breakthrough “Gradual Olefins and Aromatic Technology (GOAT)”, an advanced Crude-to-Chemicals process developed entirely by the company’s in-house R&D team. The GOAT technology demonstrates India’s growing capability to transform crude oil directly into high-value petrochemicals, thereby improving energy efficiency, cutting carbon emissions, and contributing to the nation’s sustainable refining goals.

The award was presented by Shri Hardeep Singh Puri, Hon’ble Minister of Petroleum & Natural Gas, in the presence of Shri Pankaj Jain, Secretary, Ministry of Petroleum & Natural Gas. The ceremony was organized by the Centre for High Technology (CHT) at the Hyderabad International Convention Centre (HICC).

Receiving the award on behalf of MRPL were Shri Nandakumar V. Pillai (Director – Refinery), along with Chief Managers Shri Karthick R. and Shri S. Nirmal Ganesh from MRPL’s Innovation Centre.

The 28th Energy Technology Meet, themed “Green Energy Horizons: Advancing Sustainable Refining & Energy Innovation,” serves as India’s leading platform for sharing advancements in refining and clean energy technologies. Organized by CHT under the Ministry of Petroleum & Natural Gas, ETM 2025 brings together refiners, petrochemical producers, technology providers, equipment manufacturers, and service companies from India and abroad to discuss sustainable and low-carbon pathways for the energy sector.

The three-day event, held from October 28 to 30, 2025, focuses on innovations driving India’s energy transition and circular economy efforts.

Speaking after receiving the award, Shri Nandakumar V. Pillai said,

“MRPL has always been a frontrunner in adopting and developing advanced technologies. Our Innovation Centre is not only creating but also implementing breakthrough technologies like GOAT — a futuristic Crude-to-Chemicals process that many in the global refining industry are still aspiring to achieve. Winning this recognition for the fourth consecutive year reflects our team’s commitment, creativity, and technical excellence. I congratulate our Innovation Centre team and wish them continued success in future innovations.”

New Delhi: The Reserve Bank of India (RBI) has decided to keep the key policy interest rate unchanged at 5.5% for the second consecutive review. The decision was announced by RBI Governor Sanjay Malhotra after the Monetary Policy Committee (MPC) meeting on Wednesday.

The MPC voted unanimously to maintain the repo rate at 5.5% with a neutral stance. Governor Malhotra said the central bank took the step due to uncertainties over tariffs, even as inflation remains under control.

Retail inflation has stayed below 4% since February this year. It eased to a six-year low of 2.07% in August, helped by lower food prices and a favourable base effect.

The October policy comes at a time when the recent cut in Goods and Services Tax (GST) is expected to support domestic demand.

This is the fourth bi-monthly monetary policy review of the current financial year.

Gold, often regarded as a safe haven and a hedge against inflation, continues to attract strong interest from investors seeking stability. On Sunday, September 29, gold prices in India recorded a slight dip compared to yesterday.

According to the latest updates, the price of 24-carat gold stands at ₹11,547 per gram, while 22-carat gold is priced at ₹10,584 per gram. Meanwhile, 18-carat gold is being sold at ₹8,660 per gram.

The rates reflect a marginal fall of ₹1 per gram across all three categories — 18, 22, and 24 carat — when compared with the previous day’s prices.

Gold prices in India are updated daily and often vary depending on local market conditions, making them a closely tracked indicator for both traders and households. Despite the recent fluctuations, gold remains a preferred investment avenue for those looking to secure long-term returns.