Business

Rupee Falls 35 Paise to 93.88 Against US Dollar Amid Strong Greenback and Crude Price Concerns Mumbai, March 24: The Indian rupee weakened by 35 paise to close at 93.88 (provisional) against the US dollar on Tuesday, pressured by a strengthening dollar and elevated global crude oil prices that unsettled investor sentiment.Dollar Strength and Oil Prices Weigh on Rupee Forex traders indicated that persistent foreign fund outflows, coupled with uncertainty surrounding the West Asia crisis, continued to exert pressure on the domestic currency. A stronger US dollar against major global currencies further dampened the rupee’s outlook.At the interbank foreign exchange market, the rupee opened at 93.66 against the dollar and witnessed...

Indian Stock Market Closes Higher as Nifty Surges 400 Points, Sensex Gains Over 1,300 Auto and Banking Stocks Lead Broad-Based Rally Mumbai, March 24: Indian equity markets ended Tuesday’s session on a strong footing, with benchmark indices closing near their intraday highs, supported by robust buying in auto and banking stocks.The upbeat momentum was further aided by improving investor sentiment amid expectations of easing geopolitical tensions between the United States and Iran, even as signals from both sides remained mixed.Nifty and Sensex Post Strong Gains The Nifty index surged 399.75 points, or 1.78 percent, to settle at 22,912.40. The Sensex followed suit, rising 1,372.06 points, or 1.89 percent, to close at 74,068.45.The...

Mahanagar Gas Assures Uninterrupted PNG Supply, Announces Incentives for New Users Amid LPG Concerns Mumbai, March 24: As liquefied petroleum gas (LPG) users grapple with challenges linked to the ongoing Middle East conflict, piped natural gas provider Mahanagar Gas Ltd (MGL) on Tuesday assured consumers of uninterrupted supply while unveiling a series of limited-period incentives aimed at expanding its customer base.Free Gas and Discounts for New Residential Users In a move to encourage adoption of piped natural gas (PNG), MGL announced that all new domestic registrations between March 16 and April 30 will be eligible for free gas worth ₹500.Additionally, customers in newly connected residential buildings with a penetration level...

J&K Hosts Agro and Food Fest Buyer-Seller Meet to Boost Global Market Access Event Aims to Strengthen Export Opportunities for Regional Products Srinagar, March 24: A two-day Agro and Food Fest Buyer-Seller Meet commenced in Jammu and Kashmir on Tuesday, aimed at promoting the Union Territory’s agricultural products and enhancing market linkages.The event is being jointly organised by the Trade Promotion Council of India (TPCI) and the Jammu and Kashmir Trade Promotion Organisation (JKTPO) at the Sher-e-Kashmir International Convention Centre (SKICC), bringing together key stakeholders from the agro and food industry.Platform for Farmers, Exporters and Global Buyers Officials stated that the meet is designed to provide a direct...

India Media and Entertainment Sector Hits ₹2.78 Trillion in 2025, Digital Media Leads Growth Industry Enters Phase of Digital Expansion and Structural Transformation New Delhi, March 24: India’s media and entertainment (M&E) sector entered a defining phase of scale, digital dominance, and structural transformation in 2025, reaching ₹2.78 trillion with a growth rate of 9 per cent, according to a report by FICCI and EY. The sector’s expansion outpaced nominal GDP growth, reflecting strong momentum across digital and advertising-driven segments.Growth Outlook: ₹3.3 Trillion by 2028 The report projects continued expansion, with the industry expected to grow to ₹2.86 trillion (USD 32.9 billion) in 2026 and further to ₹3.3 trillion (USD...

Delhi Budget 2026-27: Rekha Gupta Unveils “Green Budget” With ₹22,236 Crore Allocation for Sustainable Development New Delhi, March 24: Delhi Chief Minister Rekha Gupta on Tuesday presented the 2026-27 budget as a “green budget,” placing strong emphasis on sustainability, pollution control, and environmental restoration. The government has earmarked 21.44% of the total outlay, amounting to ₹22,236 crore, for green development initiatives.Significant Increase in Environment Spending The allocation for the environment and forest sectors has seen a sharp rise, increasing to ₹822 crore from ₹505 crore in the previous financial year, marking a 62.7% growth.Highlighting the government’s commitment, Gupta said the aim is to restore Delhi’s...

Opposition Targets Government Over Foreign Policy, Economy in Lok Sabha Debate on Finance Bill 2026 Sharp Political Divide Emerges During Finance Bill Discussion New Delhi, March 24: A heated debate unfolded in the Lok Sabha on Tuesday as opposition leaders accused the government of compromising India’s strategic autonomy and mishandling the economy, while members of the ruling alliance defended the Finance Bill 2026 as a roadmap for inclusive growth and national development.Opposition Flags Concerns on Foreign Policy and Investment Trends Participating in the discussion, Congress MP Manish Tewari raised concerns over declining foreign direct investment (FDI) and foreign portfolio investment (FPI), stating that the economy is not...

India Exports Show Steady Growth Amid Global Uncertainty, Parliament Informed New Delhi, March 24: India’s export sector has demonstrated sustained resilience and steady growth despite ongoing global challenges, the government informed Parliament on Tuesday, highlighting a consistent upward trajectory in both the current financial year and the past few years.Exports Rise 5.26% in FY26 (April–January Period) During April to January of FY 2025–26, India’s total exports, including merchandise and services, grew by 5.26 per cent to reach $714.73 billion, up from $679.02 billion in the corresponding period of the previous year.Minister of State for Commerce Jitin Prasada shared these figures in the Lok Sabha, noting that the growth comes...

Airtel Broadband Outages in Noida Persist for Over a Month, Residents Consider Switching Providers Frequent Internet Disruptions Reported in Sector 143 New Delhi/Noida, March 24: Airtel broadband users in parts of Noida, particularly Sector 143, are facing repeated and extended service outages, with disruptions lasting up to 6 to 7 hours daily for over a month. The ongoing issue has led to growing dissatisfaction among residents, many of whom are now considering switching to alternative internet service providers.Residents say the problem has intensified since early February, severely affecting daily routines and work commitments.Residents Voice Frustration Over Prolonged Downtime Deb, a resident of Gulshan Ikebana society in Sector...

Government Plans to Cut Broken Rice Share in PDS to Boost Ethanol Supply New Delhi, March 24: The Indian government is preparing to reduce the proportion of broken rice distributed through the Public Distribution System (PDS) from 25% to 10%, a move expected to free up nearly 90 lakh tonnes annually for ethanol production. The proposal was announced by Food Secretary Sanjeev Chopra at the All India Distillers' Association conference on Tuesday.Stable Feedstock Supply for Ethanol Sector The proposed shift is aimed at ensuring a consistent and reliable supply of feedstock for the ethanol industry, reducing its dependence on whole grain stocks held by the Food Corporation of India. Chopra emphasized the importance of building resilient...

Kerten Hospitality Enters India with 1,000-Key Expansion Plan Across Three Brands New Delhi, March 24: Ireland-based Kerten Hospitality has officially announced its entry into the Indian market, marking a significant step in its global expansion strategy. The company plans to launch operations with an initial portfolio of 1,000 keys in the first phase, introducing three of its brands: The House Hotel, Cloud7 Hotels, and HOSME.India Identified as a Strategic Growth Market Kerten Hospitality highlighted India as a key market aligned with its long-term vision of expanding into high-growth destinations. The company aims to tap into the country’s rapidly evolving hospitality sector, which continues to attract global players.According to...

Maruti Suzuki to Invest ₹10,189 Crore in New Gujarat Plant, Targets 2.5 Lakh Annual Capacity New Delhi, March 24: Maruti Suzuki India on Tuesday announced a major expansion plan, with its board approving an investment of ₹10,189 crore to establish the first phase of a new manufacturing facility in Gujarat.First Phase Capacity Planned at 2.5 Lakh Units Annually The company said the initial phase of the plant, located at Khoraj Industrial Estate, will have an annual production capacity of 2.5 lakh vehicles. This will mark Maruti Suzuki’s fifth manufacturing facility in India.According to the regulatory filing, the first phase is expected to be operational by 2029, subject to market conditions.Investment to Be Funded Through Internal...

Maharashtra Congress Opposes Move to Transfer Haffkine’s DPT Vaccine Strain to Private Firm Concerns Raised Over Public Health and Vaccine Affordability Mumbai, March 24: Maharashtra Congress Legislature Party leader Vijay Wadettiwar on Tuesday opposed the reported move to transfer a rare and historically significant DPT vaccine strain from the Haffkine Institute to a private company, warning that the decision could impact public health and increase vaccine costs for the poor.Raising the issue in the state assembly through a point of information, Wadettiwar questioned the process initiated after a proposal from Reliance Life Sciences to procure the Diphtheria, Pertussis, and Tetanus vaccine strain. He also raised concerns about the...

Petroleum Industry Pushes Ethanol as Clean Cooking Fuel to Reduce LPG Imports Focus on Household Energy Transition Gains Momentum New Delhi, March 24: The petroleum industry has called on stakeholders to accelerate the development of ethanol as a clean cooking fuel for Indian households, aiming to reduce dependence on imported liquefied petroleum gas (LPG) and expand the country’s biofuel ecosystem.The appeal was made by R S Ravi, Director (Downstream) at the Federation of Indian Petroleum Industry (FIPI), during the All India Distillers' Association (AIDA) conference on Tuesday. He highlighted ongoing efforts to design ethanol-based cooking solutions and stressed the need for industry-wide collaboration.Ethanol Stove Development...

RBI Bets on AI and APIs to Strengthen Digital Payments Infrastructure Central Bank Expands Digital Public Infrastructure with Focus on Customer Experience Mumbai, March 24: The Reserve Bank of India is advancing its digital public infrastructure by integrating artificial intelligence and application programming interfaces to improve customer experience and reinforce the country’s payments ecosystem, a senior official said on Tuesday.P Vasudevan, Executive Director at the RBI, stated that the central bank is actively developing new digital public infrastructure platforms powered by AI and APIs, which are expected to play a central role in the future of digital transactions."We are also creating more and more DPIs. We are talking...

Government Can Mobilise ₹8 Lakh Crore Annually for Road Projects, Says Nitin Gadkari Mumbai, March 24: Union Minister for Road Transport and Highways Nitin Gadkari on Tuesday highlighted the government’s capacity to mobilise up to ₹8 lakh crore annually for road infrastructure, while raising concerns over the slow pace of spending in the highways sector.Speaking at the listing ceremony of the NHAI-sponsored Raajmarg Infra Investment Trust at the BSE, Gadkari underscored the importance of accelerating execution to fully realise the sector’s economic potential.Slow Spending a Key Challenge in Highway Development Gadkari pointed out that despite strong funding capabilities, the primary issue lies in execution. "Our problem is that we...

India IPO Market FY26: Mainboard Fundraising Hits Record ₹1.65 Lakh Crore, SME Segment Sees Moderation New Delhi, March 24: India’s primary market continued to show resilience in the financial year 2025–26, with the mainboard IPO segment achieving record fundraising levels even as activity in the SME space moderated slightly, according to NSE’s Market Pulse report for March 2026 released on Tuesday.Mainboard IPOs Drive Record Fundraising The mainboard segment remained the key driver of capital raising during FY26. Between April and February, 99 companies launched IPOs, collectively raising ₹1.65 lakh crore.This marks an increase from the previous financial year, when 79 IPOs mobilized ₹1.62 lakh crore, indicating sustained investor...

Delhi Budget FY27: ₹1.03 Trillion Outlay Focuses on Welfare, Green Initiatives, and Infrastructure New Delhi, March 24: Delhi Chief Minister Rekha Gupta on Tuesday presented a ₹1.03 trillion budget for FY27, unveiling a wide range of welfare measures, infrastructure investments, and environmental initiatives. The budget introduces schemes such as free diagnostic tests for newborns, bicycles for girl students, laptops for meritorious students, and a new semiconductor policy, along with plans to establish an emergency operation center for disaster management.“Green Budget” with 21% Allocation for Environment Presenting her second budget in the Delhi Assembly, Gupta described it as a “Green Budget,” stating that 21% of the total...

Crude Oil Prices Rebound on MCX Amid West Asia Tensions, Global Markets Stay Volatile Crude Oil Gains ₹204 in Futures Trade Crude oil prices rebounded in futures trading on Tuesday, rising by ₹204 to ₹8,549 per barrel, as geopolitical uncertainty in West Asia continued to influence market sentiment.On the Multi Commodity Exchange (MCX), crude oil for April delivery climbed ₹204, or 2.44 percent, to ₹8,549 per barrel.Sharp Decline in Previous Session The recovery follows a steep decline in the previous session, where crude prices plunged ₹1,186, or nearly 13 percent, hitting an intraday low of ₹8,072 per barrel. The contract later settled at ₹8,345, marking a drop of ₹913, or 9.86 percent on the MCX.Global Crude Benchmarks Also...

Digital NBFCs Drive Financial Inclusion with 9.9 Crore Loans in FY26, Says FACE Report Digital Personal Loans Dominate Volume Growth in India’s Credit Market New Delhi, March 24: Digital non-banking finance companies have significantly expanded access to formal credit in India, sanctioning nearly 10 crore personal loans during the first three quarters of FY26, according to a report released on Tuesday.The report by the Fintech Association for Consumer Empowerment (FACE) highlighted that around 9.9 crore digital personal loans were sanctioned during this period, with total disbursements reaching Rs 1,53,260 crore.Digital personal loans accounted for 78 per cent of the total volume of personal loans, while contributing 19 per cent to...