Business

Government Keeps Small Savings Interest Rates Unchanged for Eighth Straight Quarter PPF, NSC, and Other Schemes Retain Existing Rates for April–June FY27 New Delhi, March 30: The government on Monday decided to keep interest rates unchanged for various small savings schemes, including the Public Provident Fund (PPF) and National Savings Certificate (NSC), for the eighth consecutive quarter starting April 1, 2026.In a notification, the finance ministry confirmed that the rates applicable for the first quarter of FY 2026-27, from April 1 to June 30, 2026, will remain the same as those notified for the January to March quarter of FY 2025-26.Key Small Savings Scheme Interest Rates According to the notification, the Sukanya Samriddhi...

Stock Market Crash Wipes Out Rs 18.60 Lakh Crore in Two Days as Sensex Slides Over 4% Investor Wealth Erodes Amid Global Uncertainty and Oil Price Surge New Delhi, March 30 Equity investors saw a sharp erosion of wealth, losing Rs 18.60 lakh crore in just two trading sessions as domestic markets declined steeply amid escalating tensions in West Asia and a surge in crude oil prices.The BSE benchmark Sensex dropped 3,325.9 points, or 4.41 per cent, over the last two sessions, reflecting heightened volatility and weakening investor sentiment. On Monday, the 30-share index fell 1,635.67 points, or 2.22 per cent, to settle at 71,947.55.Market Capitalisation Drops Sharply As investors moved away from riskier assets, the total market...

Gold and Silver Prices Rebound in Delhi Amid Wedding Season Demand Precious Metals Surge Up to 3 Percent on Fresh Buying New Delhi, March 30 Precious metal prices witnessed a strong rebound in the national capital on Monday, rising by around 3 percent as jewellers stepped up purchases ahead of the wedding season.Silver recorded a sharp jump of Rs 7,000, reaching Rs 2.37 lakh per kilogram, while gold prices also moved higher, climbing to Rs 1.51 lakh per 10 grams.Silver Jumps Over 3 Percent, Gold Gains 2.5 Percent According to the All India Sarafa Association, silver surged Rs 7,000, or 3.04 percent, to Rs 2,37,000 per kg inclusive of all taxes, compared to Rs 2,30,000 per kg in the previous session.Gold of 99.9 percent purity rose...

India GDP Growth Seen Slowing to 6.5% in FY27 Amid Energy Price Pressures: ICRA Growth Outlook Weakens on Rising Energy Costs and Global Uncertainty New Delhi, March 30: ICRA on Monday projected that India’s GDP growth will moderate to 6.5 percent in the financial year 2026 to 2027, down from 7.6 percent in the current fiscal year, citing elevated energy prices and concerns over energy availability linked to the ongoing West Asia conflict.The rating agency’s forecast is based on an assumed average crude oil price of USD 85 per barrel during FY27, a level that is expected to exert pressure on the broader macroeconomic environment.Current Account Deficit Expected to Widen ICRA indicated that India’s current account deficit is likely...

IndiQube Leases 48,000 Sq Ft Bengaluru Workspace for Healthcare GCC, Deal Valued at ₹75 Crore IndiQube Expands Presence with Major GCC Leasing Agreement New Delhi, March 30: IndiQube Spaces Ltd has leased over 48,000 square feet of office space at its co-working centre in Bengaluru to a healthcare firm for establishing a global capability centre (GCC), with the deal valued at approximately ₹75 crore over a five-year period.The company disclosed the development in a regulatory filing on Monday, stating that it has signed a workspace leasing agreement with a leading GCC operating in the healthcare technology segment.Premium Workspace Deal Strengthens Bengaluru Portfolio According to the filing, the client has taken up premium...

India’s Net External Liabilities Narrow to $260.5 Billion in Q3 FY26: RBI Data Overseas Asset Growth Outpaces Foreign Investment Inflows Mumbai, March 30: India’s net claims of non-residents declined to USD 260.5 billion as of end-December 2025, marking a reduction of USD 10.9 billion from the previous quarter, according to data released by the Reserve Bank of India on Monday.The decline was primarily driven by a stronger increase in overseas financial assets held by Indian residents compared to the rise in foreign-owned assets within the country.International Investment Position Shows Continued Improvement The ratio of India’s international assets to liabilities improved further to 82.1 percent at the end of December 2025. This...

India’s Fiscal Deficit at 80.4% of FY26 Target by February, Finances Stay on TrackThe Centre’s fiscal position remained stable in FY26, with the fiscal deficit reaching 80.4% of the full-year target by the end of February, according to data released by the Comptroller General of Accounts.In absolute terms, the fiscal deficit stood at ₹12.53 lakh crore for April–February, compared to the full-year estimate of ₹15.58 lakh crore. This marks an improvement over the same period last year, when the deficit had touched 85.8% of the annual target.Stronger Revenue Performance Supports Fiscal HealthThe government’s revenue collections showed steady momentum during the period:Net tax revenue reached ₹21.45 lakh crore, or 80.2% of the...

Alembic Pharmaceuticals Secures USFDA Approval for Generic Paroxetine Extended-Release Tablets Approval Strengthens Alembic’s US Generics Portfolio New Delhi, March 30: Alembic Pharmaceuticals Ltd on Monday announced that it has received final approval from the United States Food and Drug Administration for its generic version of Paroxetine extended-release tablets, used in the treatment of multiple mental health conditions.Details of the USFDA Approval The approval pertains to the company’s supplemental Abbreviated New Drug Application for Paroxetine extended-release tablets in the 12.5 mg strength, according to a statement issued by Alembic Pharmaceuticals.The approved product has been deemed therapeutically equivalent to the...

GIFT City Banking Assets Cross $106.7 Billion, Mark Sevenfold Growth Since 2020 Strong Expansion in India’s Offshore Banking Ecosystem New Delhi, March 30: Banking assets at GIFT City’s International Financial Services Centre crossed $106.7 billion as of February 2026, marking a more than sevenfold increase from $14 billion recorded in September 2020, the financial hub said on Monday.The sharp rise reflects the rapid expansion of India’s offshore banking ecosystem, supported by increasing participation from both global and domestic institutions.Growing Presence of Global and Domestic Banks The growth has been driven by a widening banking base, with 37 banks currently operating in GIFT IFSC. This includes 20 foreign banks and 17...

India Reports 17 Non-Scheduled Aircraft Accidents in Five Years, Govt Tells Rajya Sabha Majority of Incidents Involved Helicopters New Delhi, March 30: A total of 17 accidents involving aircraft and helicopters operated by non-scheduled operators have been reported in the past five years, the Ministry of Civil Aviation informed the Rajya Sabha on Monday.Out of these, 12 accidents involved helicopters, while five incidents were related to fixed-wing aircraft. The data also indicated that five such accidents occurred in 2025 alone.Safety Violations and Incidents Highlight Oversight Concerns In a written reply, Minister of State for Civil Aviation Murlidhar Mohol stated that 46 safety violations involving charter operators were...

Punjab Detects ₹200 Crore Tax Evasion in Hospitality Sector, Probe May Uncover ₹500 Crore Statewide Crackdown Targets 882 Establishments Chandigarh, March 30: Punjab Finance Minister Harpal Singh Cheema on Monday said the state government has uncovered tax evasion worth around ₹200 crore in the hospitality sector, with the total figure expected to rise to nearly ₹500 crore as investigations expand.Addressing a press conference, the minister said that 882 establishments have been brought under scrutiny as part of a statewide crackdown. These include dhabas, restaurants, eateries, bakeries, sweet shops, and catering services.Data Analytics Drive Expands Across Financial Years Cheema said the ongoing exercise is based on data analytics...

India Has 60 Days of ATF Reserves, No Immediate Supply Risk Amid West Asia Conflict Aviation Fuel Supply Remains Stable Despite Global Concerns New Delhi, March 30: India currently has sufficient aviation turbine fuel (ATF) reserves to meet demand for the next 60 days, with no immediate risk of disruption, Civil Aviation Minister Kinjarapu Rammohan Naidu informed the Rajya Sabha on Monday.The assurance comes at a time when concerns have risen due to the ongoing conflict in West Asia and its impact on global oil supplies.Responding to queries in the Upper House, Naidu stated that the country’s aviation fuel supply remains stable despite the broader oil crisis linked to the geopolitical situation.“India currently has adequate ATF...

Banking Companies to Deduct TDS Only Above Threshold, Clarifies Income Tax Department Definition Under New Income Tax Act, 2025 Aligned With Banking Regulation Act New Delhi, March 30: The Income Tax Department on Monday clarified that banking companies governed by the Banking Regulation Act, 1949, will deduct Tax Deducted at Source on interest income only when it exceeds the prescribed threshold limits.The clarification comes under Section 402 of the Income Tax Act, 2025, where the term "banking company" has been defined as a company to which the provisions of the Banking Regulation Act, 1949 apply.TDS Threshold Remains Unchanged for Depositors Under existing income tax provisions, TDS is applicable on interest income from bank or...

NCLAT Restricts Insolvency Proceedings Against Vatika to Gurgaon Project ‘Aspirations’ Appellate Tribunal Modifies NCLT Order, Limits CIRP Scope New Delhi, March 30: In a partial relief to NCR-based real estate firm Vatika, the National Company Law Appellate Tribunal (NCLAT) has restricted the Corporate Insolvency Resolution Process (CIRP) against the company to a single Gurgaon-based project, ‘Project Aspirations’.Modifying an earlier order by the National Company Law Tribunal (NCLT), the appellate tribunal clarified that the insolvency proceedings cannot extend to all projects of the corporate debtor.CIRP Valid but Limited to Specific Project The NCLAT upheld the initiation of insolvency proceedings, stating that the debt and...

Flipkart Appoints Smita Ojha and Amit Sharma as Vice Presidents to Strengthen Technology Leadership Strategic Hires Aimed at Scaling Core Technology and Driving AI-Native Growth New Delhi, March 30: E-commerce major Flipkart on Monday announced the appointment of Smita Ojha as Vice President of Engineering and Amit Sharma as Vice President of Program Management, as part of its efforts to strengthen leadership across its technology and execution functions.The company said the appointments are focused on scaling its core technology infrastructure and creating long-term value.Smita Ojha to Lead Central Platforms Group Within OneTech Smita Ojha will head the Central Platforms Group within Flipkart’s OneTech organisation. She joins the...

Hyundai VENUE, Kia Seltos Secure 5-Star BNCAP Safety Ratings in India SUVs from Hyundai and Kia Achieve Top Crash Test Scores New Delhi, March 30: South Korean automakers Hyundai and Kia on Monday announced that their popular SUVs, the Hyundai VENUE and Kia Seltos, have secured 5-star safety ratings under India’s Bharat New Car Assessment Programme (BNCAP).Hyundai VENUE and VENUE N Line Earn High Adult Safety Score The all-new Hyundai VENUE and VENUE N Line achieved a 5-star safety rating, with an adult occupant protection score of 31.147, according to Hyundai Motor India Ltd (HMIL).Commenting on the development, HMIL Managing Director and CEO Tarun Garg said the recognition reinforces the company’s commitment to delivering globally...

RBI Injects ₹84,582 Crore into Banking System Through Liquidity Infusion Mumbai, March 30 – The Reserve Bank of India (RBI) provided ₹84,582 crore of short-term liquidity to the banking system on Monday through two variable rate repo (VRR) auctions.Two VRR Auctions Conducted The central bank initially injected ₹50,001 crore through the first VRR auction, held early in the day. The cut-off rate for this auction was 5.34 percent, with a weighted average rate of 5.44 percent, according to the RBI’s release.A second VRR auction was conducted later in the day, injecting another ₹34,581 crore. This auction utilized a cut-off rate of 5.26 percent and a weighted average rate of 5.30 percent.Auction Results The first auction received bids...

Bank Credit to Industry Grows at 13.5% in Latest Fortnight Mumbai, March 30 – Bank credit to the Indian industry witnessed a significant acceleration, growing at a rate of 13.5 per cent during the fortnight ending February 28, 2026, according to data released by the Reserve Bank of India (RBI) on Monday. This represents a notable increase compared to the 7.5 per cent growth observed in the year-ago period.Sectoral Credit Growth Highlights The robust growth is primarily attributed to increased lending in several key sectors, including ‘infrastructure’, ‘all engineering’, ‘chemicals and chemical products’, ‘petroleum, coal products and nuclear fuels’, and ‘textiles’.The RBI’s data, collected from 41 select scheduled commercial banks...

Noida International Airport Ready for Commercial Operations Project Completion and Regulatory Approvals Secured New Delhi, March 30 – Tata Projects announced on Monday that the Noida International Airport is now fully ready for commercial operations, following the securing of all necessary regulatory approvals.The statement highlighted the successful completion of the airport’s construction phase, with Tata Projects serving as the engineering, procurement, and construction (EPC) contractor.“With regulatory approvals secured, Noida International Airport is now ready for commercial operations, further solidifying Tata Projects’ position as a leading EPC company delivering complex, large-scale infrastructure that supports India’s...

Sensex and Nifty Plunge as Fiscal Year Concludes Mumbai, March 30 – The Sensex and Nifty benchmark indices experienced a significant decline on Monday, marking the end of the 2025-26 fiscal year. The downturn was driven by ongoing geopolitical tensions in West Asia and rising crude oil prices, negatively impacting investor sentiment.The 30-share BSE Sensex closed at 71,947.55, down 1,635.67 points or 2.22%. During the day, the index fell by 1,809.09 points or 2.45%, closing at 71,774.13. The 50-share NSE Nifty plummeted 488.20 points or 2.14%, closing at 22,331.40.A total of 3,563 stocks declined, while 876 advanced and 154 remained unchanged on the BSE.Over the past two trading sessions, the BSE benchmark lost 3,325.9 points, or...