Business

Crude Oil Prices Plunge 9% on US Pause of Strikes on Iran New Delhi, March 23, 2026 – Crude oil prices reversed early gains on Monday, hitting the lower circuit after falling 9% to Rs 8,431 per barrel in futures trading, following US President Donald Trump’s announcement of a temporary halt to military strikes on Iran’s energy infrastructure.On the Multi Commodity Exchange (MCX), crude oil for April delivery initially surged Rs 362 (4%) to an intraday high of Rs 9,620 per barrel. However, prices later plummeted Rs 827 (9%) to the lower circuit limit of Rs 8,431 per barrel.Crude prices also declined in overseas markets. West Texas Intermediate (WTI) May futures fell USD 7.24 (7.37%) to USD 90.99 per barrel, while Brent crude for May...

PM Modi Urges Unity, Preparedness Amid West Asia Conflict New Delhi, March 23, 2026 – Prime Minister Narendra Modi on Monday stated that the difficult global conditions caused by the West Asia conflict are likely to persist for an extended period and called upon the nation to remain prepared and united, similar to India’s collective response during the COVID-19 pandemic.Addressing the Lok Sabha, PM Modi highlighted the impact of the conflict on fuel, fertilizers, national security, and Indian nationals in the region, and outlined the government’s measures to ensure that ordinary families face minimal disruption. He emphasized that dialogue and diplomacy remain the path to resolution, with India actively working towards de-escalation...

RBI Bulletin Highlights Global Market Volatility, Economic Resilience of India Mumbai, March 23, 2026 – The Reserve Bank of India (RBI) in its latest bulletin noted that the conflict in West Asiaand fresh US trade investigations have contributed to increased volatility in global markets.Despite external uncertainties, India’s foreign exchange reserves remain adequate to provide a cushion against shocks, the bulletin stated.The second advance estimates of GDP for 2025-26 indicate the sustained resilience of the Indian economy, with high-frequency indicators suggesting that economic activity gained momentum in February.The bulletin highlighted that headline inflation, as measured by the Consumer Price Index (CPI), picked up in...

Global Oil Prices Plunge as US Temporarily Halts Strikes on Iran New Delhi, March 23, 2026 – Global oil prices fell sharply on Monday, with Brent crude dropping over 13%following US President Donald Trump’s announcement of a temporary halt to military strikes against Iran and reports of “productive” talks between the two nations.Brent crude futures declined by approximately $17, or nearly 15%, to a session low of $96 per barrel, while US West Texas Intermediate (WTI) crude fell about $13 (13.5%) to $85.28. The steep drop came as fears of supply disruptions eased amid signs of de-escalation in the Middle East conflict.Trump stated he had instructed the Department of Defense to postpone planned airstrikes on Iranian power plants and...

Travel Trends Shift: Asian Destinations and Domestic Getaways Gain Momentum Amid Middle East Disruptions Mumbai, March 23: Travel preferences among Indian tourists are undergoing a noticeable shift as disruptions in the Middle East reshape global travel patterns. A report released on Monday highlights a growing inclination toward alternative international destinations and domestic leisure travel, driven by flight disruptions and airspace constraints in the affected region.Shift Away from Middle East Routes According to travel platform ixigo, recent geopolitical developments have led to operational challenges in Middle East airspace, prompting travelers to reconsider their plans. Traditionally a popular choice during this time of the...

India Emerging as a “Reliable Partner” in Global Supply Chains, Says Delhi LG New Delhi, March 23, 2026 – Delhi Lieutenant Governor Taranjit Singh Sandhu on Monday said that India has emerged as a reliable partner in global supply chains and innovation ecosystems.Addressing the 26th edition of IndiaSoft at Bharat Mandapam on the theme “Business Beyond Boundaries”, Sandhu emphasized that India is evolving from being a participant in globalization to becoming a “shaper” of global business trends.He highlighted that recent global disruptions, including the COVID-19 pandemic, exposed the fragility of centralized supply chains, driving the need for resilience and diversification.Sandhu also stressed the critical role of technology...

Sebi Escalates 1.33 Lakh Instances of Manipulative Securities Content to Social Media Platforms New Delhi, March 23, 2026 – The Securities and Exchange Board of India (Sebi) has escalated 1.33 lakh instances of misleading or manipulative content related to the securities market to social media platform providers, Parliament was informed on Monday.In a written reply to the Lok Sabha, Minister of State for Finance Pankaj Chaudhary stated that these escalations were recorded as of February 28, 2026. Sebi receives information on content deemed misleading, manipulative, or unlawfuland forwards it to the respective social media platform providers (SMPPs) for removal or takedown under the applicable regulatory framework.Currently, Sebi is...

Indian Companies Plan ₹11.44 Lakh Crore CAPEX in FY26, Shows Strong Investment Momentum New Delhi, March 23, 2026 – Indian companies have planned capital expenditure (CAPEX) of over ₹11 lakh crorefor the current fiscal year 2025-26, reflecting robust investment activity in the private corporate sector, the government said on Monday.According to a survey by the National Statistical Office (NSO), released by the Ministry of Statistics & Programme Implementation (MoSPI), the provisional aggregate CAPEX for FY26 is estimated at ₹11.44 lakh crore.The survey also highlighted strong execution of investment plans. For FY25, the actual CAPEX per enterprise was ₹173.5 crore against an intended ₹180.2 crore, indicating a high realization ratio...

Wipro Expands Operations in South Korea with Seoul Innovation Lab New Delhi, March 23, 2026 – Wipro Limited announced the expansion of its business operations in South Korea, including a larger office in Seoul and the launch of a new Seoul Innovation Lab as part of its Wipro Innovation Network (WIN).The Seoul Innovation Lab, Wipro’s ninth global facility, will focus on the technology, automotive, and industrial sectors, supporting use cases such as intelligent product engineering, software-defined vehicles, smart manufacturing, supply chain optimization, and AI-enabled operations.South Korea has emerged as a major global innovation hub with leadership in semiconductors, advanced technology, automotive engineering, and industrial...

179 Government-Owned Companies Lack Female Directors, Government Says New Delhi, March 23, 2026 – As many as 179 government-owned companies, including public sector enterprises (PSEs), do not have a female director on their boards, the government stated on Monday.Under the Companies Act, 2013, certain companies are mandated to appoint at least one female director. This includes all listed companies and public companies with a paid-up share capital of Rs 100 crore or more or a turnover of Rs 300 crore or more.Malhotra added that non-compliance is due to specific company-level and administrative reasons. The government did not disclose the specific time period for compliance or maintain centralized data on penalties imposed for...

Sensex and Nifty Plunge Amid Rising Oil Prices and Middle East Tensions Mumbai, March 23, 2026 – Indian equity markets suffered a sharp decline on Monday, with the BSE Sensex and NSE Nifty falling sharply amid weak global cues and escalating tensions in the Middle East.The 30-share Sensex dropped 1,836.57 points (2.46%) to close at 72,696.39, hitting an intraday low of 72,558.44. The 50-share Nifty fell 601.85 points (2.60%) to end at 22,512.65.Among Sensex constituents, Titan led the losses with a 6.24% decline, followed by Trent, UltraTech Cement, Bharat Electronics, InterGlobe Aviation, Tata Steel, and HDFC Bank. On the other hand, HCL Tech, Power Grid, Infosys, and Tech Mahindra were the few gainers.Rising Brent crude oil...

Adobe Appoints Shamik Basu as Vice President, Creative Products Group in India New Delhi, March 23, 2026 – Adobe announced the appointment of Shamik Basu as Vice President, Creative Products Group in India. Basu will lead Adobe India’s engineering and product management teams, reporting to Ely Greenfield, Chief Technology Officer, Creative Products Group.With over 8,000 employees across four campuses, India is Adobe's second-largest workforce globally, contributing more than a third of the company’s innovation agenda.In his new role, Basu will join the Adobe India leadership team, focusing on driving innovation and growth in India.Basu brings over 30 years of experience in building large-scale, intelligent software platforms, most...

Low Acceptance Rates in Prime Minister Internship Scheme Due to Location, Duration, and Role Fit New Delhi, March 23, 2026 – Many candidates are not accepting offers under the Prime Minister Internship Scheme (PMIS) due to factors such as location, longer internship duration, and lack of interest in offered roles, according to the government.In the first and second rounds of the scheme, over 16,000 interns joined their internships, while the total number of offers made exceeded 1.65 lakh.The Ministry of Corporate Affairs, which implements the scheme, conducted a nationwide analysis on low acceptance rates. Findings indicated that location preferences, the 12-month internship period, and role alignmentare key reasons why candidates...

Government Launches Internal Audit Portal to Boost Transparency and Accountability New Delhi, March 23, 2026 – The government on Monday launched the Internal Audit Portal (IAP) to enhance transparency and accountability by transitioning audit processes from manual tracking to a real-time, centralized digital system.The Ministry of Rural Development (MoRD) stated that the portal enables real-time monitoring of audit processes across departments, improving efficiency, oversight, and governance.A key feature of the system is Secretary-level access, which allows senior officials to track audit status directly and take timely action on issues.Developed by the National Informatics Centre, the portal aims to modernize audit mechanisms by...

Fertilizer Association of India Urges Government Relief Amid Gas Supply Disruptions New Delhi, March 23, 2026 – The Fertilizer Association of India (FAI) has urged the government to provide financial relief to urea producers affected by ongoing gas supply disruptions, warning that production shortfalls and a shortage of packaging materials could disrupt fertilizer supplies ahead of the monsoon season.In a letter to the government, FAI requested energy cost reimbursements and penalty waivers for plants operating under constrained gas supplies, citing extraordinary circumstances due to the ongoing geopolitical crisis.Under the Natural Gas Supply Regulation Order notified on March 9, 2026, fertilizer plants are classified under...

Andhra Pradesh CM Lays Foundation for Rs 1.36 Lakh-Crore ArcelorMittal Nippon Steel India Plant Rajayyapeta (Andhra Pradesh), March 23 – Andhra Pradesh Chief Minister N Chandrababu Naidu laid the foundation stone for the Rs 1.36 lakh-crore ArcelorMittal Nippon Steel India (AM/NS India) steel plant in Nakkapalli mandal, Anakapalli district on Monday.Project DetailsPlant Capacity: 17.8 million tons per annum (MTPA) over 5,465 acres in two phases:Phase 1: 7.3 MTPA Phase 2: 10.5 MTPAEmployment: Expected to create 1 lakh direct and indirect jobs.Port DevelopmentAM/NS India will build a 50-million-ton capacity captive port on 316 acres, linked to the steel plant. Investment for the port: Rs 11,198 crore, generating 6,000 jobs...

BIDSO Raises ₹63 Crore Funding to Expand Toy and Consumer Products Platform New Delhi, March 23 – BIDSO, a design-led manufacturing platform focused on the global toys and consumer products ecosystem, announced on Monday that it has raised ₹63 crore in a funding round led by Blume Ventures.The funding includes ₹51 crore in equity and ₹12 crore in venture debt. Existing investors Peer Capital and Sadev Capital also participated, while Alteria Capital provided the venture debt.Use of Funds BIDSO plans to use the capital to:Strengthen product design and manufacturing capabilities. Expand its manufacturing footprint and production capacity. Scale its product portfolio. Invest in design, engineering, production, and sales teams to...

Sebi Introduces Draft Abridged Prospectus to Simplify IPO Disclosures New Delhi, March 23 – The Securities and Exchange Board of India (Sebi) has introduced a draft abridged prospectus to provide a concise, standardized, and investor-friendly summary of IPO offer documents.Key Features of the Draft Abridged ProspectusCompanies going public must submit the abridged prospectus along with their detailed offer documents. It will highlight key information such as the company’s business model, financials, promoters, risks, and performance indicators in a simplified format. The document must be hosted on the issuer’s website, stock exchanges, and lead managers’ websites for easy investor access. QR codes and links are required in...

Gold and Silver Prices Plunge Amid Strong Dollar, Rising Yields, and Geopolitical Tensions New Delhi, March 23 – Gold and silver prices tumbled sharply on Monday, driven by profit-taking, a stronger US dollar, and rising real yields.MCX April gold futures fell 6.91% to ₹1,34,506 per 10 grams by 3:30 pm. MCX May silver futures dropped 8.84% to ₹2,06,716 per kg.Key Market MovementsThe sell-off erased roughly $2 trillion in market value within hours due to strong profit booking. The US dollar strengthened 0.45% as the USD index climbed to 100.10, making dollar-priced bullion more expensive for holders of other currencies. The rupee weakened by 33 paise to a fresh all-time low of ₹93.86/USD.International PricesComex Gold fell...

Government to Deploy 10,000 Electric AC Buses Across 116 Cities by 2027 Under PM-eBus Sewa Scheme New Delhi, March 23 – The government informed the Rajya Sabha that 10,000 air-conditioned electric buses will be provided to 116 cities across 26 states and UTs by the end of 2027 under the PM-eBus Sewa Scheme, with a new scheme planned to provide an additional 35,000 e-buses thereafter.PM-eBus Sewa Scheme Overview Minister of Housing and Urban Affairs Manohar Lal said the scheme was announced by Prime Minister Narendra Modi on August 16, 2023, to improve mobility in smaller cities and reduce pollution.The scheme targets towns with populations between 3 lakh and 40 lakh, where states often lacked adequate funding for electric buses...