Business

India Seeks Inclusive, Economically Sustainable Electric Mobility Transition New Delhi, March 30 – India’s transition to electric mobility must be inclusive and economically sustainable, with a focus on affordability and scalability across both urban and rural markets, Union Minister HD Kumaraswamy said on Monday.The minister spoke at the launch of the Light Electric-Vehicle Acceleration Forum (LEAF), an industry-led platform designed to advance the EV charging ecosystem. Kumaraswamy emphasized that the focus must shift beyond simply adding more charging points.“What we need now is reliability, ease of access, and, most importantly, interoperability,” Kumaraswamy stated. “We must ensure that India’s transition to electric vehicles...

Indian Chief Executives See Slowest Pay Growth Since Pandemic Median Executive Compensation Rises 5% in FY26 New Delhi, March 30 – The median compensation for professional chief executives in India rose 5 per cent year-on-year to approximately ₹10.5 crore in fiscal year 2026, marking the slowest pace of growth since the COVID-19 pandemic period, according to a new report from Deloitte India.Stock Market Performance Impacts Executive Pay The muted rise in executive compensation was primarily due to subdued performance in the equity market, which reduced the value of stock-linked compensation—a significant component of executive pay. Deloitte India found that nearly one-third of CEO pay is linked to stock awards, leading to a notable...

New Mangalore Port Berth 9 Redevelopment Approved for Public-Private Partnership New Delhi, March 30 – The government has approved the New Mangalore Port Authority’s (NMPA) proposal for the redevelopment of Berth No. 9 for handling liquid bulk cargo on a Public-Private Partnership (PPP) basis under the DBFOT model. The approval was conveyed on March 25, 2026, according to the Minister of Ports, Shipping and Waterways.The project, valued at ₹438.29 crore, will be undertaken by a private concessionaire selected through an open competitive bidding process using a single-stage, two-envelope system. The construction period is slated for two years, with a concession period of 30 years, inclusive of construction.The redevelopment will...

Gold and Silver Prices Plunge Amid Inflation Concerns Domestic Market Reaction On Monday, March 30, gold and silver prices experienced a significant decline in the Indian market, aligning with global trends. On the Multi Commodity Exchange (MCX), gold contracts for June 5 delivery opened 0.27 per cent lower at Rs 1,46,850 per 10 grams. The precious metal experienced a sharp decline during the session, falling as much as Rs 3,043, or 2.06 per cent, to hit an intraday low of Rs 1,44,212 per 10 grams. Silver futures (May 5) also came under pressure, declining as much as 0.96 per cent to Rs 2,25,763 per kg, compared to the previous close of Rs 2,27,954. International Market Trends Globally, gold prices were influenced by a surge in energy...

Rupee Recovers Amid RBI Intervention, Market Volatility Mumbai, March 30 – The Indian rupee rebounded sharply on Monday, gaining 128 paise against the US dollar, recovering from an all-time low of 93.57. The recovery followed a decision by the Reserve Bank of India (RBI) to cap net open positions (NOP-INR) for banks at USD 100 million.The rupee opened at 93.62 and subsequently climbed to 93.57 against the dollar, marking a significant gain from Friday’s close of 94.85. Friday’s decline saw the rupee fall by 89 paise.According to CR Forex Advisors Managing Director Amit Pabari, the rupee’s recovery was largely driven by banks adjusting their positions in response to the RBI’s directive, leading to dollar sales in the market. “This...

Indian Rupee Gains as RBI Imposes Position Limits New Delhi, March 30 – The Indian rupee opened higher on Monday, reaching $93.59 against the US dollar, a gain of 1.3 per cent. The rupee’s rise was attributed to restrictions imposed by the Reserve Bank of India (RBI) on onshore position limits.RBI Caps Net Open Positions The Reserve Bank of India (RBI) has instructed banks to limit their net open positions in rupees in the foreign exchange market. The central bank mandated that commercial banks must implement a daily cap of $100 million on their end-of-day open positions in the onshore rupee by April 10. The RBI has indicated it may adjust these limits based on evolving market conditions. Estimates suggest the magnitude of these...

Domestic Indices Decline Sharply Amid Geopolitical Tensions Mumbai, March 30 – Domestic benchmark indices opened sharply lower on Monday, with the Sensex declining by over 1.38 per cent and the Nifty slipping by approximately 1 per cent. The market downturn was fueled by escalating tensions in West Asia, now in its fifth week.Market Overview The Sensex opened at 72,565, down over 1,000 points, while the Nifty commenced trading at 22,549, experiencing a decline of 267 points. All sectoral indices were trading in the red, reflecting widespread selling pressure. Public sector banks and chemical companies led the losses, falling by nearly 3-4 per cent each, with real estate, automobiles, and financial services indices also declining by up...

KOSPI Slides Sharply Amid Foreign Selling and Tech Stock Weakness Seoul, March 30: South Korean equities witnessed a steep decline on Monday, with the benchmark Korea Composite Stock Price Index (KOSPI) dropping 3.98 percent amid heightened geopolitical tensions and heavy selling in large-cap technology stocks.The KOSPI fell 216.2 points to 5,222.67 as of 11:20 a.m. Seoul time. The index had opened nearly 5 percent lower and remained under sustained pressure during early trade, primarily due to strong foreign outflows.Middle East Conflict Fuels Oil Supply Concerns Market sentiment weakened significantly as the ongoing conflict involving Iran intensified, raising concerns over global oil supply disruptions. The war, which began in...

Piyush Goyal Pushes for Balanced WTO at MC14, Holds Key Bilateral Talks with EU, Canada, UK India Calls for Inclusive and Responsive WTO Framework Commerce and Industry Minister Piyush Goyal has underscored the need for a balanced and responsive World Trade Organization that addresses the priorities of all member nations, particularly developing countries and Least Developed Countries.Speaking during engagements at the 14th WTO Ministerial Conference held in Yaounde, Cameroon, Goyal highlighted the importance of ensuring that global trade systems remain inclusive and equitable.Discussions with WTO Director-General Goyal held discussions with WTO Director-General Dr. Ngozi Okonjo-Iweala, acknowledging her efforts in building...

Government Reintroduces PDS Kerosene for 60 Days to Ease LPG Pressure Emergency Allocation Announced for States and Union Territories New Delhi, March 30: The central government has announced an ad-hoc allocation of Public Distribution System (PDS) kerosene to states and union territories for household use. The move is part of a 60-day emergency measure aimed at reducing pressure on Liquefied Petroleum Gas (LPG) supplies.Kerosene to Support Cooking and Lighting Needs According to an official order, the allocated kerosene will be used for essential household purposes, including cooking and lighting. The temporary provision is intended to support families that may be facing constraints in accessing LPG.PDS Kerosene Reintroduced in 21...

India Aviation Sector Faces Aircraft Supply Bottleneck as Delivery Delays Stretch Up to 15 Years 1,700 Aircraft Orders Pending Amid Global Supply Chain Disruptions India’s rapidly expanding aviation sector is facing a significant hurdle in the procurement of new aircraft, with deliveries expected to be delayed by as much as 15 years due to ongoing global supply chain disruptions, Civil Aviation Minister K Rammohan Naidu said on March 30.Speaking at Bhavnagar airport in Gujarat, the minister highlighted that nearly 1,700 aircraft orders placed by Indian airlines are currently pending, even as demand for air travel continues to rise across the country.Aircraft Shortage Emerges as Key Constraint Post COVID-19 Naidu pointed out that...

Banks Remain Closed in Bengaluru Today All public and private sector banks in Bengaluru are closed on March 30 on account of Mahavir Jayanti, as per the Reserve Bank of India calendar.Banks including SBI, PNB, HDFC Bank, ICICI Bank and Axis Bank are not operational for in-branch services across Karnataka today due to the festival.Is There a Bank Holiday Today? Yes, Karnataka is observing a bank holiday today, March 30, for Mahavir Jayanti.Bank holidays in India are determined by the RBI and vary by state depending on regional festivals and observances. While some holidays are nationwide, others apply only to specific states.Notably, March 30 is not a bank holiday in all states, but it is applicable in Karnataka.RBI Bank...

New Delhi, March 29 Commerce and Industry Minister Piyush Goyal will visit Canada in May amidst ongoing negotiations for a free trade agreement between the two countries.On March 2, the two countries launched negotiations for a comprehensive economic partnership agreement (CEPA).The issue of Goyal's visit came up during his meeting with Maninder Sidhu, Minister of International Trade of Canada, on the sidelines of the 14th ministerial conference of the World Trade Organisation (WTO) in Yaounde, Cameroon.The bilateral discussion focused on expediting the recently launched India-Canada CEPA negotiations. "(Maninder) Sidhu extended a warm welcome to Goyal for his upcoming visit to Canada in May 2026, leading a major Indian business...

NUPPL Begins Coal Production at Pachwara South Block in Jharkhand Coal Output Starts to Support Power Generation Needs New Delhi, March 29 Neyveli Uttar Pradesh Power Limited, a joint venture between NLC India Ltd and Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd, has commenced coal production at the Pachwara South Open Cast Project in Jharkhand, according to a regulatory filing.The start of production marks a significant step in boosting domestic coal availability for power generation, aimed at strengthening India’s energy security amid rising electricity demand.Production Timeline and Project Milestone The company stated that coal production began on March 29, 2026, following the commencement of overburden removal on December 19...

Digi Yatra, Udan Cafe Among 6 New Passenger Facilities Launched at Jammu and Srinagar Airports Civil Aviation Minister Unveils Passenger-Centric Initiatives to Enhance Travel Experience Jammu/Srinagar, March 29 Union Civil Aviation Minister Ram Mohan Naidu Kinjarapu has inaugurated six new passenger-focused initiatives at Jammu and Srinagar airports, aimed at improving convenience, accessibility, affordability, and overall travel experience.The newly introduced facilities include Digi Yatra, Udan Yatri Cafe, Flybrary, AVSAR retail spaces, a dedicated kids play area, and free high-speed Wi-Fi, according to an official statement.Digi Yatra Introduces Seamless Facial Recognition Travel A key highlight of the launch is Digi Yatra, a...

Gold, Silver Prices Seen in Corrective Phase Next Week Amid West Asia Tensions and Key Global Data New Delhi, March 29 Precious metal prices are likely to remain in a corrective phase in the coming week as investors closely monitor geopolitical developments in West Asia and a series of key macroeconomic indicators from major global economies.Focus on Fed Signals and Global Economic Data Market participants are expected to track comments from US Federal Reserve Chair Jerome Powell on Monday, along with speeches from other Fed officials later in the week. These cues are anticipated to provide direction on monetary policy, which could significantly influence bullion demand.According to Pranav Mer, Vice President, Commodity and Currency...

Himachal Fuel Dealers Oppose Petrol, Diesel Cess, Warn of Sales Decline Bilaspur (HP), March 29: The Himachal Pradesh Petroleum Dealers Association has strongly opposed the state government’s decision to impose a cess on petrol and diesel, calling the move “unjustified” and cautioning that it could further reduce fuel sales across the state.Sales Drop Raises Industry Concerns During a meeting held on Saturday evening, Association President Sukumar Singh Chande highlighted a significant decline in fuel sales over recent years. He stated that when Himachal Pradesh maintained a lower Value Added Tax (VAT) compared to neighbouring states, total fuel sales stood at 1.2 million kilolitres. However, by 2025, this figure had dropped sharply...

DGCA Mandates 60% Free Seat Selection on Flights from April 20 New Rule Aims to Improve Passenger Access and Transparency New Delhi, March 29 Airlines in India will be required to offer at least 60 percent of seats on every flight free of charge starting April 20, following new directives issued by the Directorate General of Civil Aviation (DGCA).The move comes after the Ministry of Civil Aviation, on March 18, directed the regulator to ensure fair access to seat selection for passengers. In response, the DGCA issued an amended Air Transport Circular on March 20, which will take effect 30 days from its issuance date.Mandatory Free Seat Allocation Expanded Significantly Under the revised rules, airlines must ensure that a minimum of...

Bitcoin Drops Below Key Technical Levels, Holds Near USD 66,000 Amid Fragile Sentiment Bitcoin Breaks 200-Day Average, Signals Near-Term Pressure New Delhi, March 29 Bitcoin weakened to around USD 66,000 after slipping below its 200-day moving average and year-to-date average, both considered critical indicators of market strength by traders.The breach of these technical support levels points to near-term downside pressure, driven primarily by risk-off sentiment and tighter global liquidity conditions. Despite this, the decline has remained orderly, with no signs of panic selling, as prices stabilized in the mid-USD 60,000 range.Market at Critical Juncture With Rebound Expectations Analysts indicate that Bitcoin is currently at a...

SJM Raises Concern Over Panic Fuel Buying, Urges Shift Towards Renewable Energy Surge in LPG Bookings and Fuel Demand Triggers Alarm New Delhi, March 29: The RSS-affiliated Swadeshi Jagran Manch (SJM) on Sunday flagged concerns over rising panic buying of fuel and a sharp increase in LPG cylinder bookings amid the ongoing West Asia conflict. The organisation cautioned that such behaviour is creating artificial shortages despite stable supply conditions.In a statement, SJM national co-convenor Ashwani Mahajan highlighted a sudden spike in LPG demand. Daily bookings, which typically ranged between 5.5 million and 6 million, have surged significantly to between 7.5 million and 8.8 million. A similar upward trend has been observed in...