Business

Mumbai, April 1 The rupee gained 15 paise to 94.70 against the US dollar in early trade on Wednesday, tracking positive cues from domestic equity markets and the retreat of the US dollar overseas.However, the local currency remained under pressure due to higher crude oil prices and sustained withdrawal of foreign funds, even as banks moved to cut their net open position in the currency following the RBI mandate, forex traders said.Through its circular dated March 27, 2026, the RBI capped the Net Open Position (NOP-INR) for banks at USD 100 million, with compliance required by April 10.At the interbank foreign exchange, the rupee opened stronger at 93.62 but pared all gains to trade at 94.70 against the greenback in early deals...

Mumbai, April 1 – The benchmark indices Sensex and Nifty surged in early trading on Wednesday, driven by a sharp rally in global markets fueled by hopes of a potential de-escalation in the ongoing conflict in West Asia.The 30-share BSE Sensex jumped by 1,899.53 points to 73,847.08 in early trading. The 50-share NSE Nifty rose by 572.55 points to 22,903.95.All 30 Sensex-listed companies saw gains, with Trent, Bharat Electronics, Adani Ports, Bajaj Finance, InterGlobe Aviation, and Larsen & Toubro being the top performers.In Asian markets, South Korea's benchmark Kospi, Japan's Nikkei 225 index, China's SSE Composite index, and Hong Kong's Hang Seng index all saw significant gains. The Kospi rose by nearly 7%, while the Nikkei 225...

New Delhi, April 1 – State-owned oil marketing companies (OMCs) made significant changes to the prices of both aviation turbine fuel (ATF) and commercial LPG on Wednesday, with rates surging sharply – including a more than doubling in jet fuel prices – in line with a spike in global oil prices amid the escalating conflict in West Asia.Jet fuel prices more than doubled to a record high, while commercial LPG rates also increased significantly, adding to cost pressures across various sectors.According to fuel retailers, the price of ATF in Delhi was increased by Rs 1,10,703.08 per kilolitre, or 114.5%, to Rs 2,07,341.22 per kl.This marks the first time that ATF prices have exceeded the Rs 2 lakh per kl mark.The previous peak was...

New Delhi, April 1 The price of aviation turbine fuel (ATF), or jet fuel, more than doubled to a record Rs 2.07 lakh per kilolitre on Wednesday, but domestic airlines will not have to pay this steep increase as a mechanism is being put in place to protect them.Meanwhile, the price of commercial LPG was also raised by Rs 195.50 per cylinder, reflecting the surge in global oil prices linked to the ongoing conflict in West Asia.According to state-owned fuel retailers, the price of ATF in Delhi was hiked by Rs 110,703.08 per kilolitre, or 114.5%, to Rs 207,341.22 per kl.As ATF is a completely deregulated product, its price is based on prevailing benchmark international prices. This is according to an agreement with the airlines...

Mumbai, April 1 – Domestic stock markets opened sharply higher on Wednesday, with a significant gap-up, tracking positive cues from the US and Asian markets amid hopes for de-escalation in the West Asia conflict, which is now in its 33rd day.The 50-scrip Nifty opened at 22,899, rising by 567 points or 2.54 percent, while the Sensex began the day up by 1,814 points, or 2.52 percent, at 73,762.43.Sector-wise, all indices traded in positive territory, led by gains in banking, auto, and IT stocks. The broader indices also showed strong momentum, with mid-cap and small-cap indices advancing by over 2-3 percent.US President Donald Trump has indicated that the American military could halt attacks on Iran within the next three weeks. He...

Ahmedabad, April 1 Adani Ports and Special Economic Zone Ltd (APSEZ) announced on Wednesday that it has surpassed the landmark milestone of handling 500 million tonnes of cargo.From a single port-led vision in 1998 to a network spanning 19 ports and terminals across India and beyond, APSEZ has grown into a critical enabler of India's trade, industrial growth, and global competitiveness."Ports are not merely gateways for trade; they are gateways to national confidence, competitiveness, and destiny. I am grateful to our customers, partners, and every member of the APSEZ family whose dedication and belief have made this milestone possible," said Gautam Adani, Chairman, Adani Group."I also extend my sincere appreciation to the Central...

USTR Raises Concerns Over Digital Restrictions and Market Access The United States has identified India’s preference for domestic satellite usage in direct-to-home television services and its practice of localized internet shutdowns as barriers to foreign trade, according to the 2026 National Trade Estimate Report on Foreign Trade Barriers.Released by the Office of the US Trade Representative, the report also highlighted concerns over increasing takedown requests directed at American firms since 2021. These requests, involving content and user accounts, were noted to be linked to issues that appear politically motivated.Internet Shutdowns Seen Impacting Digital Trade The report stated that localized internet shutdowns in India...

UDAN 2.0 Gets Rs 28,840 Crore Boost to Expand Regional Air Connectivity and Manufacturing Push Government Approves Massive Funding Expansion for UDAN Scheme The Union Cabinet has approved a significant Rs 28,840 crore plan to revamp the UDAN regional connectivity scheme over the next decade, aiming to expand air access to smaller towns and strengthen India’s aviation ecosystem.According to Civil Aviation Minister Ram Mohan Naidu, the six-fold increase in funding is expected to improve connectivity across underserved regions while also creating demand for smaller aircraft.Focus on New Airports, Helipads, and Regional Access Under the expanded framework, the government plans to develop 100 new airports and 200 helipads, marking a...

LPG Prices Today: Commercial Cylinder Rates Hiked In Delhi, Mumbai, Chennai, Kolkata, Bangalore And More Commercial LPG Becomes Costlier Across Major Cities Commercial LPG cylinder prices have been increased from April 1, with a sharp hike of Rs 195.50 per 19-kg cylinder. In Delhi, the price of a commercial LPG cylinder now stands at Rs 2,078.50.This marks the second consecutive monthly increase, following a Rs 114.50 hike implemented on March 1. The latest revision impacts businesses such as hotels and restaurants that rely on commercial gas cylinders.City-Wise LPG Price Update According to the latest data, commercial LPG prices have risen across major cities:Delhi: Rs 2,078.50 Mumbai: Rs 2,031 Kolkata: Rs 2,208 Chennai: Rs...

Retirees and those approaching retirement in the United States are set to face a mix of benefit increases, higher deductions, and tax adjustments in 2026. These changes, spanning Social Security payments, Medicare premiums, and taxation rules, could directly influence monthly income and long-term financial planning.Cost-of-Living Adjustment Raises Benefits Social Security benefits will see a 2.8% cost-of-living adjustment in 2026. This annual revision is aimed at keeping pace with inflation.For example, a retiree receiving $2,000 per month would see an increase of $56, taking their monthly benefit to $2,056. While the rise provides some relief, its real impact depends on other cost pressures.Medicare Part B Premiums Jump Sharply...

Exporters Get Relief as Scheme Continues at Existing Rates The government has extended the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme by six months, providing relief to exporters facing elevated freight costs and ongoing maritime disruptions linked to the West Asia crisis.According to a notification issued by the Directorate General of Foreign Trade (DGFT) on March 31, the scheme will now remain in force until September 30, 2026.No Change in Incentive Structure The extension comes without any modification to the current benefit framework, ensuring continuity for exporters.Rates and value caps remain unchanged as of March 31, 2026 All eligible export products continue to be covered Terms and conditions of...

Bank Holiday on April 1: Are Banks Open or Closed Today? Full Details Here Banks Shut in Most Cities for Annual Closing Banks across several parts of India remain closed on Wednesday, April 1, as part of the annual financial year closing process. The closure affects major cities including Ahmedabad, Mumbai, New Delhi, and Kolkata.This scheduled holiday is listed in the Reserve Bank of India (RBI) calendar, which outlines bank holidays for the year. April includes a total of 14 bank holidays as per the RBI schedule.Why Are Banks Closed on April 1? The April 1 closure is a routine practice followed by banks to complete their yearly financial closing. During this process, banks reconcile accounts and finalize financial statements for...

ATF Prices Cross ₹2 Lakh Mark for First Time; Commercial LPG Rates Hiked by ₹195.50 Jet Fuel Prices Surge Over 114% Amid Global Oil Spike New Delhi, April 1: Aviation turbine fuel (ATF) prices have more than doubled to a record high on Wednesday, crossing the ₹2 lakh per kilolitre mark for the first time, as global oil prices continue to surge amid escalating tensions in West Asia.In Delhi, ATF prices were increased by ₹110,703.08 per kilolitre, marking a sharp rise of 114.5%, taking the rate to ₹207,341.22 per kl, according to state-owned fuel retailers.This is the highest-ever level for jet fuel prices. The previous peak was recorded in 2022, when rates had surged to around ₹1.1 lakh per kl following the spike in oil prices after...

Oil Prices Rise as Trump Signals Possible Iran Exit; Hormuz Disruption Keeps Markets Volatile Crude Gains Extend Amid Ongoing Gulf Tensions Crude oil prices moved higher in Asian trading on Wednesday as continued disruptions in the Persian Gulf and fresh signals from U.S. President Donald Trump on a potential exit from Iran kept markets unsettled.Brent crude for June delivery rose 1.5 percent to $105.56 per barrel. The May contract had already settled about 5 percent higher at $118.35 per barrel in the previous session. U.S. West Texas Intermediate crude for May also climbed 1.5 percent to $102.92 per barrel.March Rally Marks Strongest Gains in Decades Oil prices recorded a sharp rally through March, reflecting heightened...

Income Tax and Financial Changes from April 1, 2026: What Changes and How It Impacts You Starting April 1, 2026, India introduces a wide range of changes across taxation and financial regulations. These updates cover a new tax framework, revised filing rules, changes in investment taxation, and adjustments to everyday financial activities such as digital payments, ATM usage, and travel refunds.Here is a structured breakdown of the key changes and their impact.New Income Tax Framework Introduced Income Tax Act, 2025 Replaces 1961 Law The Income Tax Act of 1961 is being replaced by the Income Tax Act of 2025. The new framework focuses on simplifying provisions, removing outdated sections, and improving compliance.A key change is the...

ATF Prices Surge Past ₹2 Lakh Mark for First Time Amid Global Oil Spike Jet Fuel Rates More Than Double in Delhi New Delhi, April 1: Aviation turbine fuel (ATF), commonly known as jet fuel, has surged to a record high, crossing the ₹2 lakh per kilolitre mark for the first time. The sharp increase comes amid a spike in global crude oil prices linked to the escalating conflict in West Asia.In the national capital, ATF prices have been raised to ₹2,07,341.22 per kilolitre, a steep jump from ₹96,638.14 per kilolitre. This marks a more than twofold increase in fuel costs for the aviation sector.Previous Price Revision in March The latest surge follows a recent hike in March. On March 1, ATF prices were increased by 5.7 percent...

New Delhi, April 1 The price of commercial LPG was increased by ₹195.50 on Wednesday, due to the surge in global oil prices linked to the escalating conflict in West Asia.A 19-kg cylinder of commercial LPG now costs ₹2,078.50 in Delhi, according to state-owned oil companies.Rates were last increased by ₹114.5 per 19-kg cylinder on March 1.The prices of domestic cooking gas LPG, which were last increased by ₹60 per 14.2-kg cylinder on March 7, remain unchanged. It costs ₹913 per 14.2-kg cylinder in Delhi.State-owned Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum revise ATF and LPG prices on the first day of every month based on international benchmarks and the exchange rate.Global oil prices have risen by...

San Francisco, March 31 – Cloud major Oracle began laying off employees worldwide on Tuesday, with several workers receiving an early-morning email announcing their job loss.According to a report in Fast Company, Oracle staff around the world began reporting on social media that they had received an email from the company, “informing them that their employment had been terminated”.The emails apparently began arriving in employees’ inboxes at around 6 am local time in the US.An Oracle spokesperson declined to immediately comment on the layoffs.In one version of the email seen by Business Insider, it says, “After careful consideration of Oracle’s current business needs, we have made the decision to eliminate your role as part of a...

New Delhi, March 31 India's CCTV market will only sell products made in India, as the government has banned the sale of non-certified imported units from April 1, a senior official said on Tuesday.The Ministry of Electronics and IT had banned the sale of CCTV units without Standardisation Testing and Quality Certification (STQC) from April 9, 2025, onwards, but allowed traders to exhaust imported inventories by March 31, 2026."The order to ban non-certified STQC came into effect from April 9 onwards. This order does not affect any manufacturer in India," the government official, who wished to remain anonymous, said.CCTV traders said that this move has impacted Chinese CCTV companies like Hikvision and TP-Link.They said that STQC...

New Delhi, March 31 Property registrations in the Mumbai region in March rose by 3 per cent to 15,983 units, the highest in the past 14 years, according to Knight Frank.Property registrations in Mumbai stood at 15,510 units during March last year.In a statement on Tuesday, real estate consultant Knight Frank stated that the Mumbai city (area under BMC jurisdiction) recorded 15,983 property registrations in March. The data includes transactions in both the primary and secondary markets."This marks the highest monthly registration volume for the month of March in the past 14 years, surpassing the high observed in March 2026, underscoring the continued depth and resilience of the city's residential market," the consultant said.In...