Business

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...

Operant AI Launches Infrastructure Partnership Program to Strengthen AI Security in India New Delhi, March 24: Operant AI has launched its AI infrastructure ecosystem partnership program, a strategic initiative aimed at enhancing security for large-scale AI deployments as India accelerates its ambitions to become a global artificial intelligence hub.Focus on Real-Time Security for Enterprise AI Systems The newly introduced program is designed to embed real-time security directly into the infrastructure that powers enterprise-grade AI applications. The company said the initiative targets a critical gap in the current ecosystem, where rapid AI adoption has outpaced traditional security frameworks.With the increasing use of AI agents...

RBI Injects ₹55,837 Crore via VRR Auction to Support Banking System Liquidity Mumbai, March 24: The Reserve Bank of India (RBI) infused ₹55,837 crore into the banking system on Tuesday through a three-day variable rate repo (VRR) auction, as part of its ongoing liquidity management operations.VRR Auction Details According to the central bank, the funds were injected at both the cut-off rate and the weighted average rate of 5.26 per cent. The liquidity infusion came in lower than the notified amount of ₹1 lakh crore, even as surplus liquidity in the system declined sharply due to advance tax outflows.Liquidity Conditions in the Banking System Despite recent pressures, liquidity in the banking system remained in surplus territory...

Aluminium Extrusion Industry Seeks Urgent Government Relief Amid LPG, PNG Shortages Supply Disruptions Trigger Production Cuts Across Sector New Delhi, March 24: The Aluminium Extrusion Manufacturers Association of India (ALEMA) has urged the government to introduce immediate relief measures as the industry grapples with a severe shortage of key fuels, liquefied petroleum gas (LPG) and piped natural gas (PNG), following escalating tensions in the Middle East.In a communication to the government, ALEMA highlighted that the ongoing conflict has significantly disrupted fuel supplies critical for aluminium extrusion processes such as melting, heating, and aging.Units Shut or Operating at Reduced Capacity The association stated that the...

BHIM App Introduces Biometric Authentication for UPI Payments Up to Rs 5,000 NPCI Subsidiary Rolls Out Fingerprint and Face Unlock Feature New Delhi, March 24: NPCI BHIM Services Limited (NBSL), a wholly owned subsidiary of the National Payments Corporation of India (NPCI), has introduced a biometric authentication feature for UPI payments on the BHIM Payments App.The newly launched feature enables users to approve transactions of up to Rs 5,000 using their smartphone’s fingerprint or facial recognition, aiming to make digital payments faster and more convenient.No Need for UPI PIN in Small Transactions With this update, users will no longer need to enter their UPI PIN for every low-value transaction. The move is expected to reduce...

Indian Railways Approves ₹647.58 Crore Projects in Gujarat and Bihar New Delhi, March 24, 2026 – Indian Railways on Tuesday approved two key infrastructure projects worth ₹647.58 crore in Gujarat and Bihar to enhance connectivity, reduce congestion, and improve operational efficiency.According to the Ministry of Railways, the projects include a Rail Over Rail (RoR) flyover at Kosamba (Gujarat) and a rail bypass at Bhagalpur (Bihar).In Gujarat, a ₹344.38 crore project has been approved for constructing a Rail Over Rail flyover to provide seamless connectivity to the 9.20 km Kosamba–Umrapada gauge conversion section under the Western Railway. The section runs along the Mumbai–Vadodara main line and is currently undergoing gauge...

Indian Markets Likely to Recover as Crude Oil Pressure Eases: Report New Delhi, March 24, 2026 – Indian equity markets are likely to witness a smart recovery as the pressure from crude oil prices eases and price-to-earnings (P/E) premiums moderate, according to a report by Emkay Global Financial Services.The report projects that the Indian rupee could strengthen towards Rs 91 per US dollar, while the 10-year government bond yield may ease to around 6.65% from the current 6.83%, with normalization expected over the next two to three months.However, the outlook remains sensitive to global crude oil prices. The report noted that an average Brent crude price of $80 per barrel in FY27 could reduce India’s GDP growth to 6.6%, while...

OZi Raises $6.2 Million in Series A to Expand Quick-Commerce for Kids’ Products New Delhi, March 24, 2026 – OZi, a quick-commerce platform focused on baby and kids’ products, has raised USD 6.2 million (around Rs 58 crore) in a Series A funding round led by RTP Global, with participation from existing investors Blume Ventures, Huddle Ventures, and Zeropearl VC.The latest funding follows OZi’s USD 3.3 million seed round raised in October 2025, which was led by Blume Ventures.The round also saw participation from prominent angel investors, including Kishore Biyani and founders from startups such as Unacademy, Mosaic Wellness, Livspace, Vetic, Magicpin, Spinny, Pristyn Care, and Handpicked.According to the company, the fresh capital...

Raajmarg InvIT Debuts Strong, Units Jump 8% on Listing Day New Delhi, March 24, 2026 – Units of Raajmarg Infra Investment Trust, sponsored by the National Highways Authority of India (NHAI), made a strong market debut on Tuesday, rising 8% over the issue price.On the BSE, the units listed at Rs 108, compared to the issue price of Rs 100, marking an 8% premium. On the NSE, the units began trading at Rs 107, registering a 7% gain.The company’s market capitalization stood at approximately Rs 6,375.60 crore following the listing.The Rs 6,000 crore IPO of Raajmarg InvIT, which was open from March 11 to March 13, received a strong response from investors, being subscribed 13.74 times. The price band for the issue was Rs 99–100 per unit...

Gold Futures Extend Losses in Domestic Market New Delhi, March 24 Gold prices continued their downward trend on Tuesday, declining by Rs 2,260 to Rs 1.37 lakh per 10 grams in futures trading, marking the fifth consecutive session of losses amid ongoing uncertainty surrounding geopolitical developments in West Asia.On the Multi Commodity Exchange (MCX), gold futures for April delivery fell by Rs 2,260, or 1.62 per cent, to Rs 1,37,000 per 10 grams.Sharp Volatility Seen in Previous Session The precious metal has witnessed significant volatility in recent sessions. On Monday, gold prices had plunged by Rs 14,897, or 10.3 per cent, touching an intraday low of Rs 1,29,595 per 10 grams before partially recovering to settle at Rs 1,39,260...

Tata Power Signs Supplementary PPA for Mundra Plant with GUVNL, Plans Agreements with Other States Agreement Aims to Address Losses from Mundra Plant Suspension New Delhi, March 24 Tata Power on Tuesday announced that its subsidiary, Coastal Gujarat Power Ltd (CGPL), has signed a supplementary power purchase agreement (PPA) with Gujarat Urja Vikas Nigam Ltd (GUVNL) for its Mundra power plant.The development was disclosed in a regulatory filing, where the company stated that similar agreements will also be executed with Maharashtra, Rajasthan, Punjab, and Haryana.Expansion of PPAs Across Multiple States “With reference to the temporary suspension of company operations of its units located at Mundra, we hereby inform you that the...

GSP Crop Science Shares List at Premium, Gain Over 13% in Early Trade Stock Debuts Above Issue Price on BSE and NSE New Delhi, March 24 Shares of agrochemical company GSP Crop Science Ltd made a positive stock market debut on Tuesday, listing at a premium over its issue price of Rs 320.On the BSE, the stock opened at Rs 332.30, marking a gain of 3.84 per cent compared to the issue price. The momentum continued in early trade, with the stock rising further by 13.21 per cent to touch Rs 362.30.At the NSE, the shares were listed at Rs 328, reflecting a premium of 2.5 per cent.Market Capitalisation and IPO Details Following the listing, GSP Crop Science’s market capitalisation stood at Rs 1,535.12 crore.The company’s Rs 400 crore...

Gold and Silver Prices Fall Sharply as Easing West Asia Tensions Weigh on Safe-Haven Demand Precious Metals Decline Across MCX and Global Markets Mumbai, March 24: Gold and silver prices witnessed a sharp decline on Tuesday, as easing tensions in West Asia reduced demand for safe-haven assets following signals of a temporary pause in potential US military action targeting Iran’s energy infrastructure.On the Multi Commodity Exchange (MCX), gold futures (April 2) dropped by as much as ₹2,576, or करीब 2%, hitting an intra-day low of ₹1,36,684 per 10 grams by 10:40 am. The contract was last seen trading at ₹1,37,100, down ₹2,160 or 1.5%.Silver futures (May 5) also recorded a steep fall, plunging 4.73% or ₹10,667 to ₹2,14,500 per kg...

Kalpataru Projects Secures ₹4,439 Crore Orders in Global T&D Projects Orders Span India, Africa, and Sweden in Transmission and Distribution Segment New Delhi, March 24: Kalpataru Projects International Ltd (KPIL) on Thursday announced that it, along with its subsidiaries, has secured new orders worth approximately ₹4,439 crore in its transmission and distribution (T&D) business.The orders include a 400kV transmission line project along with associated substations in Africa. Additionally, the company has received multiple transmission line project orders within India, as well as a substation project in Sweden, according to an official company statement.Order Wins Include Confirmations and Contract Finalisations KPIL stated that...

ACME Solar Expands BESS Capacity with 155 MW Commissioning in Rajasthan Total Battery Storage Capacity Reaches 297.67 MW Across SPVs New Delhi, March 24: ACME Solar Holdings on Tuesday announced the commissioning of an additional 155 MW and 470.25 MWh of Battery Energy Storage System capacity through its subsidiaries, marking a significant expansion in its energy storage portfolio.Following this development, the company’s total commissioned BESS capacity has increased to 297.67 MW and 951.74 MWh. This forms part of its broader plan to establish 835 MW and 3,114.64 MWh of BESS capacity across its special purpose vehicles.Rajasthan Projects to Operate on Merchant Basis The newly commissioned BESS facilities are located in Rajasthan...