Business

AgriTech Startup Cropcoin Raises ₹12 Crore in Pre-Series A Round New Delhi, March 30 – AgriTech startup Cropcoin Technologies (formerly Jaisa) announced today that it has secured ₹12 crore in a pre-Series A funding round. The investment was led by Unicorn India Ventures, with participation from Climate Angels. Expansion Plans Underway The funds will be strategically deployed to support Cropcoin’s expansion into Bihar and Jharkhand. The company plans to scale its operations from its current presence in 10 districts to encompass all 66 districts within the two states. Cropcoin’s stated goal is to build a decentralized supply chain model. Focus on Research and Development The capital will also be utilized to fund research and development...

AI-Generated Deepfakes Raise Concerns, Platforms Increasing Removal Efforts New Delhi, March 30 – Union Minister for IT and Information and Broadcasting, Ashwini Vaishnaw, on Monday raised concerns about the growing prevalence of AI-generated deepfakes, describing them as a “new menace” and a “new threat” to society. The minister noted that a significant increase in deepfake content, resembling manipulated media, is emerging across social media platforms globally. He highlighted that platforms are responding to the challenge by substantially increasing their efforts to remove such content. “A lot of content resembling deepfakes is emerging,” Vaishnaw told reporters. “Due to the changes in the AI world, a large quantity of deepfakes have...

India’s Rapeseed-Mustard Production Projected to Rise to 119.4 Lakh Tonnes in 2025-26 Jaipur, India – India’s rapeseed-mustard production is forecast to increase to 119.4 lakh tonnes in the 2025-26 rabi season, a rise from the 115.2 lakh tonnes recorded in the previous year, according to the Solvent Extractors’ Association of India (SEA) on Monday.Production and Area Estimates The initial estimate, based on field surveys, crop cutting, and remote sensing across key mustard-growing districts, indicates a significant expansion in the total area under rapeseed-mustard cultivation. The area has grown to 93.91 lakh hectares from 92.15 lakh hectares in 2024-25.Furthermore, the average yield is projected to improve to 1,271 kg per hectare...

JFE Steel Invests ₹7,875 Crore in JSW Kalinga Steel New Delhi, March 30 – JFE Steel Corporation, a leading Japanese steel manufacturer, has invested ₹7,875 crore in JSW Kalinga Steel Ltd, a subsidiary of JSW Steel, led by Sajjan Jindal. This investment represents the first tranche of JFE’s planned 25 per cent stake in the company.The investment, comprising 2,26,94,524 equity shares, was allotted to JFE Steel on March 30, 2026, according to a BSE filing by JSW Steel. This transaction establishes joint control over JSW Kalinga and its wholly owned subsidiary, JSW Sambalpur Steel Ltd.Following the allotment and subsequent board changes at JSW Kalinga, as per the joint venture agreement (JVA), JFE Steel is set to acquire an additional...

Digital NBFCs Projected to Oversee ₹3.6 Trillion Personal Loan Market by FY30 New Delhi, March 30 – Digital non-banking finance companies (NBFCs) are poised to dominate the personal loan market, with projections indicating a portfolio exceeding ₹3.6 lakh crore by fiscal year 2030, according to a report released on Monday. The forecast anticipates a compound annual growth rate of 26-28 per cent between fiscal years 2025 and 2030.The report, issued by ratings agency CareEdge Ratings, attributes this robust growth to factors including increasing digital penetration, a broadening base of borrowers, and a supportive regulatory environment.Outstanding personal loans for digital NBFCs more than doubled between March 2023 and September...

Rupee Hits Historic Low of 95.22 Against US Dollar Currency Decline Driven by Oil Prices and Geopolitical Tensions Mumbai, March 30 – The Indian rupee experienced a significant downturn on Monday, hitting a historic low of 95.22 against the US dollar in intra-day trading. Initial gains following a Reserve Bank of India (RBI) decision to reduce overnight USD open position were quickly erased as rising oil prices and ongoing geopolitical concerns exerted continued pressure on the currency.The rupee opened at 93.62 against the US dollar and subsequently rose to 93.57, registering a gain of 128 paise from its previous close. However, the currency failed to maintain this momentum, ultimately falling to an all-time low of 95.22. On Friday...

NSE Initiates IPO Process, Seeks Shareholder Interest in OFS New Delhi – The National Stock Exchange (NSE) has begun the process for its initial public offering (IPO), inviting existing shareholders to express interest in participating through an offer for sale (OFS) route.According to sources, the NSE has communicated to investors, requesting expressions of interest (EOI) for shareholders wishing to offload a portion or all of their holdings. This marks a key step forward in the exchange’s long-standing plans for a public listing.Shareholders are being provided with EOI forms and related documentation detailing the framework and conditions for participation in the OFS. They will have the option to tender shares fully or partially...

Housing Sales Decline 13% Across Nine Major Indian Cities New Delhi, March 30 – Housing sales across nine major Indian cities – Delhi-NCR, Mumbai, Navi Mumbai, Thane, Bengaluru, Pune, Hyderabad, Chennai, and Kolkata – experienced a significant downturn in the first quarter of 2026, falling 13 per cent annually to 98,761 units, according to PropEquity. This marks the first time in 18 quarters that sales have fallen below the 1 lakh units mark. Sales Decline and Market Trends The total sales in these nine cities decreased by 6 per cent from 1,05,527 units recorded in the previous quarter (October-December 2025). New supply also saw a notable decrease, declining 19 per cent to 92,411 units compared to 1,14,718 units in the same period last...

India to Offer 21 Blocks for Oil and Gas Prospecting in New Bidding Round New Delhi, March 30 – India is set to offer 21 blocks for oil and natural gas prospecting in the next bidding round under the Open Acreage Licensing Policy (OALP), according to the Directorate General of Hydrocarbons (DGH). The initiative, part of the ongoing Hydrocarbon Exploration and Licensing Policy (HELP), aims to boost domestic crude oil and natural gas production.OALP-XI Details and Bidding Parameters The DGH has listed 21 blocks encompassing approximately 80,235 square kilometers, comprising 12 onshore areas, four shallow-water blocks, one deepsea block, and four ultra-deep sea blocks. The upcoming OALP-XI round, slated to begin shortly, follows the...

Bank Locker Insurance Coverage Set at 100 Times Annual Rent New Delhi, March 30 – The standard insurance coverage for bank locker holders is set at 100 times the annual locker rent in case of any loss, according to Finance Minister Nirmala Sitharaman.Standard Insurance Policy Details The Minister clarified that banks are not permitted to check or record the valuables kept by customers in lockers, citing banking regulations. This restriction prevents banks from offering insurance coverage based on the actual value of items stored. Any attempt to monitor locker contents would constitute a breach of privacy and existing rules.As a result of this regulatory framework, a uniform policy has been established. Customers are entitled to...

Rupee Performance Amid Global Uncertainty New Delhi, March 30 – Finance Minister Nirmala Sitharaman stated on Monday that India’s economic fundamentals remain robust, and the Indian rupee is performing well against the US dollar when compared to other emerging market economies. Rupee Depreciation and Global Trends Since the outbreak of the West Asia conflict on February 28, 2026, the Indian rupee has depreciated by 4.1 per cent, closing at Rs 94.82 per USD on March 27, 2026. Minister of State for Finance Pankaj Chaudhary explained that the value of the rupee is determined by market forces and influenced by various factors. Comparative Currency Performance In a written reply, Finance Minister Sitharaman indicated that the rupee...

Union Minister Launches Forum to Boost EV Charging Ecosystem Light Electric-Vehicle Acceleration Forum Established New Delhi – Union Minister for Heavy Industries and Steel, HD Kumaraswamy, launched the Light Electric-Vehicle Acceleration Forum (LEAF) on Monday. The forum is an industry-led consortium designed to strengthen the EV charging ecosystem.Stakeholder Collaboration for EV Growth The LEAF will serve as a neutral platform for stakeholders across the light electric vehicle (LEV) ecosystem. These include original equipment manufacturers (OEMs), charging infrastructure operators, component makers, and technology providers. The forum will collaborate with government and regulatory bodies, as well as industry associations, to...

Indian Energy Sector Sees Growth in Supply and Renewable Potential New Delhi – India’s energy sector has demonstrated sustained expansion, according to data released by the National Statistics Office (NSO). Total primary energy supply (TPES) grew by 2.95 per cent in fiscal year 2024-25, reaching 9,32,816 KToE (kilo tonnes of oil equivalent), compared to the previous year.Renewable Energy Potential Soars The country possesses significant renewable energy potential, currently estimated at 47,04,043 megawatt as of March 31, 2025. Solar energy has seen substantial growth, increasing from 748,990 megawatt in fiscal year 2023-24 to 33,43,378 megawatt in fiscal year 2024-25, representing approximately 71 per cent of the total potential. Wind...

Vedanta Moves Supreme Court, Challenges Adani’s ₹14,543 Crore Takeover of Jaiprakash Associates Legal Battle Escalates After NCLT and NCLAT Setbacks NEW DELHI: Vedanta Ltd, led by billionaire Anil Agarwal, has taken its legal dispute with the Adani Group over the takeover of Jaiprakash Associates Ltd (JAL) to the Supreme Court. The company is challenging the approval of Adani Enterprises Ltd’s ₹14,543 crore resolution plan after failing to secure relief from the National Company Law Appellate Tribunal (NCLAT).Vedanta filed its plea on 25 March, naming JAL’s resolution professional, Bhuvan Madan, as a respondent. The move follows unsuccessful challenges at the National Company Law Tribunal (NCLT) and the NCLAT, where interim relief was...

JSW MG Motor India Announces Price Increase Price Hike to Offset Rising Input Costs New Delhi, March 30 – JSW MG Motor India announced on Monday that it will increase the prices of select models by up to 2% from April 1, 2026. The price adjustment is intended to partially mitigate the impact of continuously rising input costs. The price increase will apply to the company’s main product range, including internal combustion engine (ICE) and electric vehicles under its MG portfolio. It will not encompass premium electric vehicles – the MG M9 and Cyberster – which are sold through the MG Select channel. Currently, JSW MG Motor India offers a range of vehicles. The Comet EV is priced at Rs 4.99 lakh, with an additional Rs 3.2/km for battery...

Electronics Component Manufacturing Scheme Sees ₹7,104 Crore Investment, 14,246 Jobs Created New Delhi, March 30 – The government has approved 29 new applications under its electronics component manufacturing scheme, aiming to bolster domestic production and investment within the sector.Investment and Employment Boost According to S Krishnan, Secretary at the Ministry of Electronics and IT (MeitY), these fresh proposals represent a cumulative investment of ₹7,104 crore. The approved projects are projected to generate approximately 14,246 jobs, providing a significant boost to employment within the electronics manufacturing segment. Furthermore, the new investments are expected to lead to the production of electronic components...

Construction Industry Poised for Recovery, ICRA Projects New Delhi, March 30 – India’s construction industry is projected to experience revenue growth in the coming years, according to a report released by ICRA. The sector is expected to see a 6-8% revenue increase in 2026-27 following two challenging years.2025-26 Outlook: Modest Growth and Road Contractor Challenges Revenue growth in the construction sector is anticipated to remain modest at 2-4% in 2025-26. Increased pressure on road contractors is a key factor, driven by a slowdown in order bookings and muted project awards from the Ministry of Road Transport and Highways. A slowdown in construction related to the Jal Jeevan Mission also contributed to the overall subdued growth...

South Asian Nations Face Energy Crisis Risks Amid Middle East Conflict New Delhi, March 30 – The ongoing Middle East crisis presents a heightened risk to Bangladesh, Pakistan, and Sri Lanka, among South Asian nations, according to a report by S&P Global Ratings. The report highlights the countries’ vulnerability due to their heavy reliance on imported energy and limited reserve supplies.S&P Global Ratings, a provider of analyst-driven credit ratings, research, and sustainable finance opinions, indicates that a prolonged price and supply shock in global energy markets could negatively impact the sovereign credit ratings of these countries.Pakistan, Sri Lanka, and Bangladesh are currently showing signs of economic recovery. However...

IBC Boosts Banking Sector Recovery, Sitharaman Says Key Improvements in NPA Recovery New Delhi, March 30 – Finance and Corporate Affairs Minister Nirmala Sitharaman stated in the Lok Sabha on Monday that the Insolvency and Bankruptcy Code (IBC) has been a key and very important factor in improving the health of the country’s banking sector, including the recovery of non-performing assets.The minister, piloting a bill for further amending the IBC in the Lok Sabha, emphasized that companies have been performing well and their corporate governance practices have also improved after undergoing the insolvency resolution process. These remarks were made while responding to the Insolvency and Bankruptcy Code (Amendment) Bill, 2025, as...

India’s internet infrastructure faces growing concern as the ongoing US-Israel conflict with Iran raises risks for subsea cables passing through West Asia. These undersea cables carry a significant portion of the country’s data, and any damage could slow connectivity and disrupt business operations.India’s Internet Exposure to West Asia Industry estimates suggest that around 60% of India’s internet traffic passes through cables landing in Mumbai and traversing West Asia en route to Europe. Key choke points such as the Red Sea and the Strait of Hormuz make this route particularly vulnerable. The remaining traffic travels east via Chennai, Singapore, and the Pacific.This reliance on West Asia links a majority of India’s internet to a...