Business

Mumbai, March 23 The board of capital markets regulator Sebi approved several recommendations of a high-level committee on "conflict of interest," requiring the chairman and senior officers to publicly disclose their assets and liabilities to increase transparency and accountability.Additionally, the Chairman and Whole Time Members (WTMs) are to be brought within the definition of "insider," Sebi said in its statement after the conclusion of the board meeting.The committee, chaired by former Chief Vigilance Commissioner Pratyush Sinha, also suggested that all Sebi board members and employees should make initial, annual, event-based and exit disclosures of assets, liabilities, trading activities and family relationships as well as...

New Delhi, March 23 The Income Tax department on Monday said its e-filing portal will facilitate compliance under the old and Income Tax Acts, and all assessments, appeals, and other proceedings relating to earlier years will continue to be conducted under the old Act until their final resolution.In a set of FAQs issued days before the implementation of the new Income Tax Act, 2025, the I-T department said taxpayers filing returns for AY 2026-27 (pertaining to the period governed by the old Act) in July 2026 will do so using the forms prescribed under the old Act.At the same time, advance tax payments for Tax Year 2026-27, commencing from June 2026, will be made in accordance with the new Act.The new Income Tax Act, 2025, which...

New Delhi, March 23 Shares of Innovision Ltd, a provider of manpower and toll plaza management services, closed over 28 per cent lower than the issue price of Rs 519 on Monday.The stock started trading at Rs 466, a decline of 10.21 per cent from the issue price on the BSE. Later, the stock fell 28.16 per cent to settle at Rs 372.80, which was its lower circuit limit.At the NSE, it dropped 9.88 per cent to Rs 467.70 at the opening. Shares of the firm later ended at Rs 374.20, down 27.89 per cent.The company's market capitalization stood at Rs 887.76 crore.Benchmark stock indices also declined on Monday. The 30-share BSE Sensex fell by 1,836.57 points or 2.46 per cent to close at 72,696.39. The 50-share NSE Nifty fell by 601.85...

Gandhinagar, March 23 The Gujarat government on Monday asserted that there was no shortage of petrol and diesel in the state, even in the wake of the West Asian conflict, as rumors of scarcity triggered panic buying and led to long queues at fuel stations in several areas of the state.Speaking to reporters here, Deputy Chief Minister Harsh Sanghavi clarified that sufficient quantities of fuel were available in the state and appealed to citizens not to panic.Sanghavi insisted that there was no shortage of petrol or diesel in the state and appealed to citizens to refrain from believing or spreading misinformation circulating on social media about the fuel situation, in the backdrop of the US-Israel war on Iran, which has caused a...

New Delhi, March 23 – Around 95 flights are expected to arrive in India from the UAE on Monday, as limited non-scheduled flights continue from the region. Flights from Saudi Arabia and Oman to India are also continuing, according to an official statement.The airspace over Qatar remains partially open, with Qatar Airways expected to operate around 8-10 non-scheduled flights to India on Monday.The airspace over Kuwait and Bahrain remains closed, while Jazeera Airways of Kuwait is operating flights to various destinations in India from the Al Qaisumah Airport (AQI) in Saudi Arabia. Gulf Air of Bahrain is also continuing to operate special non-scheduled commercial flights from Saudi Arabia's Dammam Airport to India.Transit of Indian...

New Delhi, March 23 Shares of HDFC Bank have been on a downward trend, falling by nearly 12 per cent in three days, after its non-executive chairman Atanu Chakraborty abruptly resigned, citing differences over "values and ethics".On Monday, the heavyweight stock plummeted 4.70 per cent to close at Rs 743.75 on the BSE. During the day, it fell 5 per cent to Rs 740.95 – the 52-week low.At the NSE, the stock declined 4.65 per cent to end at Rs 744.15.The market valuation of the firm has dropped by Rs 1,52,064.22 crore to Rs 11,44,778.71 crore, following a 11.76 per cent decline in the stock.HDFC Bank's non-executive chairman, Atanu Chakraborty, abruptly resigned, citing differences over "values and ethics" – a ground that the...

New Delhi, March 23 The income tax department has imposed a tax of ₹4,009.64 crore on undisclosed foreign income and assets under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax, 2015, over the nine months of the current fiscal year until December 2025.During the fiscal year 2024-25, a tax of ₹4,556.64 crore was imposed.The information was provided by Minister of State for Finance Pankaj Chaudhary in a written reply to the Lok Sabha on Monday.Whenever credible information relating to undisclosed foreign income and assets is received, it is investigated and appropriate action is taken under the various Acts administered by the Income-tax Department, including the Income-tax Act, 1961 and the Black...

New Delhi, March 23 – Indian Railways has successfully commissioned the indigenous Kavach Automatic Train Protection system on the Prayagraj–Kanpur section of the busy Delhi–Howrah corridor, marking a major step towards safer and faster train operations, the Ministry of Railways said on Monday.The Kavach system was activated on the 190-kilometer stretch between Prayagraj and Kanpur.The system was implemented using Train No. 14163, while the General Manager also conducted a footplate inspection from Subedarganj to Manauri station to review its performance.Senior railway officials, including divisional and headquarters officers, were present during the commissioning, which is seen as an important milestone in improving safety and...

Sebi Board Approves Key Reforms for FPIs, Market Intermediaries, and Conflict of Interest Norms Mumbai, March 23, 2026 – The Securities and Exchange Board of India (Sebi) board on Monday approved a wide-ranging set of proposals aimed at easing fund settlement norms for foreign portfolio investors (FPIs), reforming regulatory frameworks for market intermediaries, and enhancing disclosure norms for Sebi officials.The board also endorsed several recommendations from a high-level committee on conflict of interest and disclosures, chaired by former Chief Vigilance Commissioner Pratyush Sinha. The committee reviewed existing provisions related to conflict of interest, including disclosures of property, investments, liabilities, and other...

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...