Business

UPI Expansion in Sri Lanka: NPCI International Strengthens Digital Payments for Indian Tourists Seamless UPI Payments to Boost Travel Experience in Sri Lanka New Delhi, March 17: NPCI International Payments Limited, the global arm of the National Payments Corporation of India, on Tuesday announced efforts to expand the acceptance of the Unified Payments Interface across Sri Lanka. The move is aimed at enabling seamless digital transactions for Indian tourists while supporting the island nation’s growing digital economy.Integration with LankaQR Infrastructure With more than 700 million QR touchpoints in India, UPI’s interoperable framework is being integrated with Sri Lanka’s LankaPay-powered LankaQR system. This collaboration allows...

India Extends Export Relief Measures Till March 31 Amid Strait of Hormuz Disruptions Government Expands Support to Ease Trade Challenges in Gulf Region New Delhi, March 17: The government on Tuesday extended relief measures for export cargo until March 31, as ongoing disruptions in the Strait of Hormuz continue to impact shipping routes and trade flows.The move is aimed at supporting exporters grappling with delays and logistical challenges, particularly in the Gulf region, which remains critical to India’s international trade network.CBIC Issues Revised SOP Under Customs Act The Central Board of Indirect Taxes and Customs has issued a revised standard operating procedure under the Customs Act, factoring in the prolonged uncertainty...

Gold Prices Rebound Nearly Rs 1,000, Snap Three-Day Losing Streak Amid Global Uncertainty Gold Futures Rise on MCX as Geopolitical Tensions Support Demand Gold prices rebounded sharply in futures trading on Tuesday, March 17, rising by Rs 922 to Rs 1.56 lakh per 10 grams and ending a three-day losing streak. The recovery was supported by persistent geopolitical tensions in West Asia and evolving global monetary policy expectations.On the Multi Commodity Exchange (MCX), gold contracts for April delivery climbed Rs 922, or 0.59 percent, to settle at Rs 1,56,658 per 10 grams. The uptick was recorded with a business turnover of 7,761 lots.Global Cues and Inflation Concerns Drive Market Sentiment The rise in gold prices was largely...

Parliamentary Panel Urges Faster Monetization of BGML Gold Tailings in Kolar Gold Fields 33 Million Tonnes of Gold-Rich Tailings Identified for Monetization New Delhi, March 17: A parliamentary committee has called on the Ministry of Mines to accelerate the monetization of approximately 33 million tonnes of gold-rich tailings dumps at Bharat Gold Mines Ltd (BGML) in Karnataka’s Kolar Gold Fields (KGF).According to the latest report by the Standing Committee on Coal, Mines and Steel, these tailings contain recoverable quantities of gold and other precious metals, presenting a potential opportunity for resource utilization.Environmental Risks and Resource Potential Highlighted Gold mine tailings dumps are large storage facilities...

Household Savings Rise to 21.7% of GDP, Food Inflation Turns Negative in FY26 Savings Rate Strengthens as Government Pushes Income Growth and Stability New Delhi, March 17: Household savings as a share of India’s GDP have increased to 21.7% in 2024-25, up from 20% in 2022-23, according to the latest GDP estimates based on the revised base year of 2022-23, the Parliament was informed on Tuesday.Minister of State for Finance Pankaj Chaudhary, in a written reply to the Rajya Sabha, highlighted that household savings remain a critical pillar for financing investments in the economy while also enhancing financial resilience at the individual level.He noted that a series of policy initiatives undertaken in recent years are expected to...

Cargo Matters to Invest ₹66 Crore in EV Charging Network Across South India Plans 550+ Smart, Solar-Integrated Charging Stations Mumbai, March 17 Logistics operator Cargo Matters on Tuesday announced an investment of ₹66 crore to establish more than 550 smart grid-enabled and solar-integrated electric vehicle charging stations across Andhra Pradesh, Telangana, Karnataka, Tamil Nadu, and Kerala.The company has partnered with EV charging infrastructure provider TRYK Charge Services LLP to execute the project, aiming to strengthen charging infrastructure for both commercial logistics and passenger mobility.Focus on High-Capacity Fast Charging Infrastructure As part of the rollout, the network will feature 360 kW DC fast chargers...

India Summer Crop Sowing Reaches 36.22 Lakh Hectares as Season Gains Momentum Sowing Progress Aligns with Recent Expansion Trends New Delhi, March 17: India’s total area under summer crops has reached 36.22 lakh hectares as of March 13, indicating steady progress in the ongoing sowing season, according to data released by the Ministry of Agriculture and Farmers Welfare.The current sowing pace is being closely compared with historical benchmarks. The normal summer cropped area, based on the average from 2022-23 to 2024-25, stands at 75.37 lakh hectares. In contrast, the final coverage recorded in 2025 was significantly higher at 83.92 lakh hectares, suggesting that the present trend is broadly in line with the recent expansion seen in...

FPI Outflows Moderate in FY26 Despite Continued Volatility in Indian Equity Markets Net Foreign Investor Selling Declines Compared to Previous Financial Year Mumbai, March 17 Foreign portfolio investors (FPIs) have moderated their selling activity in Indian equity markets during the current financial year FY26, even as volatility in flows persists. Total net outflows stand at Rs 96,974 crore so far in FY26, lower than the Rs 1.27 lakh crore recorded in FY25, according to information shared in Parliament.In a written reply in the Rajya Sabha, Minister of State for Finance Pankaj Chaudhary stated that FPI flows have continued to fluctuate, with alternating phases of inflows and outflows driven by a mix of global and domestic factors...

India Post Launches 24 and 48-Hour Delivery Services for Time-Sensitive Shipments Premium Speed Post Services Introduced in Six Major Cities New Delhi, March 17: The Department of Posts on Tuesday introduced three premium delivery services designed to cater to urgent and time-sensitive shipments, offering assured delivery within 24 and 48 hours.The newly launched services include 24 Speed Post, 24 Speed Post Parcel, and 48 Speed Post. Communications Minister Jyotiraditya Scindia formally unveiled the offerings, marking a significant step in the evolution of India Post’s service portfolio.In the initial phase, these services will be available across six major cities: Delhi, Mumbai, Chennai, Kolkata, Bengaluru, and Hyderabad. The...

JK Cement Flags Rising Cost Pressures from Mid-Q1, Demand Remains Resilient Input Costs Set to Impact Margins in Coming Months JK Cement’s Head of Business, Anuj Khandelwal, has indicated that rising input costs, particularly fuel and packaging, are expected to start impacting the company’s margins from mid-Q1 onwards. While the current quarter remains largely insulated due to existing inventory, the cost pressures are likely to emerge between mid-May and mid-June, depending on stock levels across plants.He noted that the present scenario still reflects relatively lower-cost raw materials, but the benefit is temporary. As inventories deplete, higher fuel and packaging costs will begin to reflect in operational performance.Fuel and...

LPG Carrier Nanda Devi Reaches Vadinar Port Amid Strait of Hormuz Tensions Second LPG Shipment Safely Arrives in Gujarat India’s second liquefied petroleum gas carrier, Nanda Devi, reached Vadinar port in Gujarat on March 17, carrying 46,500 metric tonnes of LPG after successfully navigating the Strait of Hormuz amid ongoing tensions in West Asia.The vessel docked at Vadinar in Devbhumi Dwarka district, marking another key arrival following the safe berthing of the first ship, Shivalik, at Mundra port a day earlier.Ship-to-Ship Transfer Operations Underway Authorities have initiated preparations to transfer the LPG cargo from Nanda Devi to a daughter vessel, BW Birch. The transferred cargo will then be distributed to Ennore port in...

India Equity Markets Outlook: Financials and Infrastructure to Lead Despite Near-Term Volatility Strong Macroeconomic Fundamentals Support Long-Term Equity Growth Financials and infrastructure sectors are expected to remain the key drivers of India’s equity markets, even as global tensions and commodity price fluctuations contribute to near-term volatility, according to a report released on Tuesday.The report highlighted that while markets may witness elevated volatility in the short term due to geopolitical developments, India’s broader macroeconomic environment continues to demonstrate resilience. This strength reinforces the long-term attractiveness of Indian equities.India’s economic fundamentals remain robust, supported by...

Global Oil Disruption: Jet Fuel and Diesel Prices Surge Faster Than Crude Amid Middle East Conflict Refined Products Face Greater Impact Than Crude Oil New Delhi, March 17: The ongoing conflict involving Iran across the Middle East is reshaping global energy markets, with refined petroleum products such as jet fuel and diesel witnessing sharper price increases than crude oil, according to a report by Goldman Sachs Group.The report highlighted that while crude oil prices have risen significantly, the rally in refined products has been even more pronounced. Analysts Yulia Zhestkova Grigsby and Daan Struyven noted that supply disruptions, particularly of medium-heavy crude, are constraining the production of key fuels including diesel...

GSTN Advisory Clarifies Treatment of Investigation Payments for Appeal Pre-Deposit GST Portal Issue Over Pre-Deposit Recognition Addressed The Goods and Services Tax Network (GSTN) has issued a fresh advisory to resolve concerns raised by taxpayers regarding the GST portal’s handling of payments made during investigations. The clarification comes after multiple instances where the system continued to demand mandatory pre-deposit amounts while filing appeals, despite taxpayers having already made payments earlier.Payments via DRC-03 Not Automatically Linked to Demand Orders The issue primarily arises in cases where taxpayers voluntarily deposit dues during the investigation stage using Form GST DRC-03. Once a formal demand order, such...

Microfinance Portfolio Shrinks 40% Year-on-Year in Q3 FY26 Bank Portfolio Outstanding Declines Sharply A report released on Monday indicates a significant contraction in the microfinance sector. The outstanding portfolio of microfinance by banks decreased by 40 per cent year-on-year to ₹65,687 crore in the third quarter of FY26. This represents the sharpest decline across all lender categories, which include dedicated non-bank finance companies – microfinance institutions (MFIs) – and small finance banks. The report, a collaboration by Equifax and SIDBI, highlights the trends within the industry.Factors Contributing to Portfolio Contraction Persistent stress in asset quality has prompted lenders to adopt tighter underwriting...

CMPDIL IPO: Subscription Opens March 20, Valued at Rs 12,280 Crore CMPDIL Announces Rs 1,842 Crore IPO The Central Mine Planning and Design Institute (CMPDIL), a subsidiary of Coal India, announced on Monday that its initial public offering (IPO), worth Rs 1,842 crore, will open for subscription on March 20.IPO Details and Price Band The price band has been set at Rs 163 to Rs 172 per share, valuing the company at around Rs 12,280 crore at the higher end, the company announced.Offer for Sale Details The entire IPO will be an offer for sale (OFS) of 10.71 crore shares, worth Rs 1,842.12 crore at the higher end, by Coal India, with no new issuance component.Key Dates for the IPO The company's maiden public offering will conclude on...

India’s Merchandise Exports Slip Slightly in February; Trade Deficit Widens to $27.1 Billion India’s merchandise exports recorded a marginal decline in February, while imports rose sharply, pushing the country’s trade deficit higher, according to government data released on Monday, March 16.Exports Dip Marginally in February India’s merchandise exports stood at $36.61 billion in February, marking a 0.81 per cent decline compared with the same month last year.Despite the slight drop in monthly exports, Commerce Secretary Rajesh Agrawal said the country’s overall export performance remains stable even amid global challenges.Imports Surge Over 24 Per Cent Imports during February increased significantly, rising 24.11 per cent...

Nifty 50 Could Reach 34,000–35,000 in Three Years on Earnings Growth, Consumption Boost: Report Earnings Expansion and Economic Momentum Expected to Support Index Growth New Delhi, March 16: India’s benchmark equity index Nifty 50 could climb to the 34,000 to 35,000 range over the next three years, supported by steady earnings growth, stronger domestic consumption, and continued expansion in banking credit, according to a report released on Monday.The report from investment platform smallcase highlighted that sustained investments in infrastructure and manufacturing are likely to strengthen corporate profitability and support the index’s long-term trajectory.Nifty EPS Expected to Rise Through FY29 The report projected a gradual rise...

IndiGo Partners with Adani Airport Holdings to Offer BluChip Rewards on Duty Free Shopping IndiGo BluChip Members Can Earn Rewards at AAHL Managed Airports Ahmedabad, March 16: IndiGo, India's low cost airline, has entered into a strategic partnership with Adani Airport Holdings Limited (AAHL), the country’s largest private airport operator. The collaboration allows IndiGo BluChip loyalty program members to earn rewards on duty free purchases across airports managed by AAHL.Under the arrangement, BluChip members will receive five IndiGo BluChips for every ₹100 spent on duty free products that are pre booked through the Adani platform.Pre Booking and Airport Collection Feature Introduced According to a statement, travellers can...

Sensex, Nifty Trade Flat After Weak Start as Middle East Tensions Keep Investors Cautious Mumbai, March 16: Benchmark equity indices opened lower on Monday but quickly erased early losses to trade nearly flat as investors remained cautious amid escalating geopolitical tensions in the Middle East.The Sensex, comprising 30 stocks, started the session 148 points or 0.19 per cent lower at 74,415 compared with its previous close. The index later recovered and traded nearly flat at 74,611 in early deals, gaining around 50 points.Nifty Opens Flat Amid Global Uncertainty The Nifty 50 also began the session on a subdued note. The index was trading at 23,116 in early trading, up 35 points or 0.15 per cent from Friday’s closing level as market...