Business

Lok Sabha Referrals Corporate Laws Amendment Bill to Joint Parliamentary Committee New Delhi, March 23 – The Lok Sabha referred the Corporate Laws (Amendment) Bill, 2026, to a joint parliamentary committee (JPC) on Monday following a voice vote. Finance Minister Nirmala Sitharaman initiated the referral after the Bill was introduced.Opposition members, including Manish Tewari of the Congress, Saugata Roy of the Trinamool Congress, and T Sumathy of the DMK, voiced concerns that the legislation would dilute provisions requiring companies to contribute 2 per cent of their profits to corporate social responsibility (CSR).Finance Minister Sitharaman refuted these allegations, stating the Bill stemmed from two years of deliberations and...

EPFO to Automate Recovery of Unclaimed Funds, Targeting Rs 5,200 Crore New Delhi – The Employees’ Provident Fund Organisation (EPFO) is preparing to significantly increase efforts to recover unclaimed funds held in inactive accounts. The organization plans to implement an automated settlement system, aiming to directly credit balances to subscribers’ Aadhaar-linked bank accounts, eliminating the need for traditional claim filing processes.Automated Settlement Mechanism The proposed system will initially process approximately 25% of Aadhaar-verified inactive accounts, representing an estimated 8 lakh accounts. This initiative is projected to recover a total of Rs 5,200 crore in unclaimed funds.Breakdown of Unclaimed Balances Analysis...

Bosch and Tata AutoComp Form Joint Venture for Electric Mobility Joint Venture Details Bosch Ltd and Tata AutoComp Systems Ltd announced the formation of a joint venture focused on the engineering, manufacturing, and sales of eAxle systems and electric motors in India. The partners plan to hold equal shares in the venture, with operations slated to begin by mid-2026, subject to regulatory approvals. The joint venture’s registered office will be located in Pune.Strategic Objectives The venture aims to accelerate the adoption of sustainable technologies and expand the regional footprint for both companies within the e-mobility space. Bosch intends to leverage India’s position as the world’s third-largest automotive market to strengthen...

Crude Oil Prices Surge to ₹9,617 Per Barrel Amid Geopolitical Tensions Crude Oil Futures Rise Sharply New Delhi – Crude oil prices experienced a significant increase on Monday, rising by ₹359 to ₹9,617 per barrel in futures trade. This marks the fourth consecutive trading session of gains, driven by escalating geopolitical tensions in West Asia and growing supply concerns.The Multi Commodity Exchange (MCX) witnessed a substantial jump in crude oil prices for the April contract, climbing by ₹359, representing nearly 4 per cent. Similarly, the May-delivery contract increased by ₹436, or approximately 5 per cent, reaching a lifetime high of ₹9,407 per barrel.International Market Reaction In international markets, West Texas...

Ayushman Bharat Scheme Sees 11.69 Crore Hospital Admissions Authorized New Delhi, March 23 – As of February 28, 2026, a total of 11.69 crore hospital admissions have been authorized under the Ayushman Bharat scheme, the Parliament was informed on Monday.Hospital Admissions Breakdown According to a written reply in the Lok Sabha, Minister of State for Health and Family Welfare Prataprao Jadhav stated that 6.74 crore of these admissions occurred in private hospitals.Ensuring Access to Treatment Strict guidelines are in place to ensure hospitals provide treatment to beneficiaries without refusal, the Minister noted. Patients experiencing denial or irregularities can file complaints through the Centralised Grievance Redressal Management...

Indian Bank Raises ₹5,000 Crore in Long-Term Infrastructure Bond Issue Mumbai, March 23 – Indian Bank announced today that it successfully raised ₹5,000 crore through a 10-year long-term infrastructure bond issue. The bond carries a coupon rate of 7.15 per cent.The lender received significant interest in the offering. Market sources reported two bids totaling ₹3,100 crore at a 7.13 per cent coupon rate. Furthermore, the bank received two bids each valued at ₹4,100 crore and ₹5,050 crore, both offering a 7.15 per cent coupon. One additional bid for a total value of ₹5,075 crore was also received.Indian Bank’s initial target was to raise ₹5,000 crore, including an additional ₹3,000 crore under a greenshoe option. The bonds have been...

RBI Injects ₹79,256 Crore in Liquidity, Deficit Remains Mumbai, March 23 – The Reserve Bank of India (RBI) provided ₹79,256 crore in short-term liquidity to the banking system on Monday through an overnight variable rate (VRR) auction.Liquidity Injection Details The RBI announced that the funds were injected at a cut-off and weighted average rate of 5.26 percent, as per a central bank release.Liquidity Levels Despite a significant drop in surplus liquidity due to advance tax payments, the amount injected was lower than the previously notified amount of ₹1 lakh crore. Currently, liquidity in the banking system is estimated to be in deficit of approximately ₹65,395.64 crore as of March 23.Recent Liquidity InjectionsMarch 20: The...

IEA Warns of Major Economic Fallout from Middle East Energy Disruptions Iran War Damages Over 40 Energy Assets Across Nine Countries Canberra, March 23 – The International Energy Agency (IEA) Executive Director Fatih Birol has warned that the Iran war is causing severe and widespread damage to energy assets across West Asia, with no country immune to the resulting disruption in oil and gas supplies.According to Birol, over 40 energy assets are “severely or very severely” damaged in nine countries within the region.Economic Impact Comparable to Past Crises Birol stated that the current disruptions are equivalent to the combined impact of the two major oil crises of the 1970s and the 2022 natural gas crisis following Russia’s invasion...

Sensex and Nifty Plunge as Global Tensions Weigh on Indian Markets Market Overview The benchmark indices Sensex and Nifty experienced a significant downturn on Monday, reflecting a broader weakness in Asian markets fueled by escalating tensions in the Middle East. The fourth week of heightened regional instability contributed to a negative investor sentiment. Key Market FiguresSensex: Fell by 1,972.77 points, representing a 2.64% decrease, closing at 72,560.19. Nifty: Dropped by 636.35 points, equating to a 2.75% decline, and ended at 22,478.15.Sector Performance Among the 30 companies in the Sensex, InterGlobe Aviation, Titan, UltraTech Cement, Trent, Bharat Electronics, and Adani Ports were among the worst performers. Conversely...

New Delhi – India will implement the new Income Tax Act, 2025, starting April 1, 2026, but taxpayers will not need to file returns for the current financial year. Returns can be prepared and filed under the existing Income Tax Act, 1961, officials and tax experts confirmed. This approach ensures a smooth, year-by-year transition to the new legislation.FY26 Income Assessed Under Current Law Income earned from April 1, 2025, to March 31, 2026, will be assessed and filed under the current Income Tax Act, 1961, for the Assessment Year 2026-27. The new Income Tax Act, 2025, will only apply to income earned from FY 2026-27 onwards, according to experts.CBDT Announces Revised Rules for Salaried Employees The Central Board of Direct Taxes...

Economic Survey Highlights Growth and Revenue Projections New Delhi, March 23 – Delhi’s economic outlook for 2025-26 has been outlined in the 2025-26 economic survey tabled in the Delhi Assembly by Chief Minister Rekha Gupta. The survey projects significant growth in per capita income and Gross State Domestic Product (GSDP).According to the report, Delhi’s per capita income at current prices is anticipated to reach Rs 5,31,610, representing a 7.92 per cent growth over the 2024-25 fiscal year. Furthermore, the survey indicates that Delhi’s per capita income is estimated to be approximately 2.5 times higher than the national average for 2025-26.The budget for 2025-26, totaling Rs 1,00,000 crore, includes Rs 59,300 crore allocated for...

LetzRyd Secures USD 4 Million in New Funding Round Investment Details New Delhi-based mobility fleet platform LetzRyd announced on Monday that it has raised USD 4 million (over Rs 35 crore) in a new funding round.Investors The round was led by JIF Capital Ltd. and included participation from Japan-based venture capital firm 15th Rock, and existing investor UNLEASH Capital Partners, Inc.Funding Utilization The fresh capital will be strategically deployed to bolster LetzRyd’s fleet network, scale its operating platform, and enhance technology-driven fleet and driver lifecycle management. Specifically, the funds will be used to strengthen systems that improve vehicle utilization and service efficiency. Furthermore, the investment will...

Frammer AI Partners with ABS-CBN to Integrate AI into Video Workflow New Delhi, March 23 – Frammer AI, an Indian artificial intelligence (AI) technology company, has entered into a partnership with ABS-CBN, one of the world’s largest media networks.AI-Powered Video Optimization Frammer AI specializes in using AI to optimize how media organizations process, edit, and publish videos. Founded in 2023 by the former management team of NDTV, the company collaborates with entertainment, sports, and news publishers globally.Replacing Wildmoka The partnership sees Frammer AI integrating its AI technology into all video processing and editing workflows for ABS-CBN, a media conglomerate based in the Philippines. This marks a significant shift...

Guar Seed Prices Decline Amidst Rising Supply New Delhi, March 23 – Guar seed prices experienced a decline in futures trading on Monday, with the commodity falling by ₹38 per quintal to ₹5,414.Guar Seed Futures Drop Guar seed contracts for April delivery on the National Commodity and Derivatives Exchange (NCDEX) decreased by ₹38, representing a 0.70% reduction. The open interest for these contracts stood at 47,175 lots.Market Factors Market participants cited increasing supply from growing regions as the primary driver behind the downward trend in guar seed prices.

Guar Gum Prices Decline in Futures Trading New Delhi, March 23 – Guar gum prices experienced a decrease in futures trading on Monday, falling by ₹98 per quintal to ₹9,965. The decline reflects a weak trend observed in the spot market.On the National Commodity and Derivatives Exchange, guar gum for April delivery saw a drop of ₹98, representing a 0.97% decrease, to a price of ₹9,965 per quintal. Trading volume reached 56,635 lots.Market participants cited slack demand in the spot market alongside an increase in supply from growing regions as contributing factors to the price reduction.

Coriander Futures Prices Rise by Rs 46 New Delhi, March 23 – Coriander prices increased by Rs 46 per quintal in futures trading on Monday, reaching Rs 11,534 per quintal. The rise was attributed to increased speculative activity in the market, driven by a strong trend observed in the spot market.Coriander Futures Trading On the National Commodity and Derivatives Exchange, coriander contracts for April delivery saw a rise of Rs 46, representing a 0.40 percent increase, to Rs 11,534 per quintal. Trading volume reached 16,765 lots.Market analysts cited a firm trend in the spot market and limited supply from producing regions as the primary factors contributing to the price increase.

Cottonseed Oil Cake Price Rises in Futures Trading New Delhi, March 23 – The price of cottonseed oil cake increased by Rs 11 to Rs 3,493 per quintal in futures trading on Monday. Increased demand influenced the price movement.Futures Trading Details On the National Commodity and Derivatives Exchange, cottonseed oil cake for April delivery traded higher by Rs 11, or 0.32 percent, to Rs 3,493 per quintal. The open interest stood at 58,590 lots.

Zinc Prices Decline in Futures Trading Zinc Prices Fall to Rs 304.10 per kg New Delhi, March 23 – Zinc prices experienced a decline in futures trading on Monday, falling by Rs 3.10 to Rs 304.10 per kg.The decrease occurred on the Multi Commodity Exchange (MCX) where zinc contracts for April delivery decreased by Rs 3.10, representing a 1.01 percent reduction, to Rs 304.10 per kilogram. Trading volume for the session was 269 lots.Analysts attributed the price drop to a reduction in positions held by participants, driven by decreased demand from consuming industries in the physical market.

Bond Yields Rise to 14-Month High Amid Geopolitical Concerns Mumbai, March 23 – The benchmark bond yield in India climbed to a 14-month high on Monday, driven by rising Brent crude oil prices and escalating tensions in the Middle East.Bond Market Reaction The yield on the 10-year government bond was trading at 6.8173 per cent around 11 am on Monday, marking a rise from Friday’s close of 6.737 per cent. This represents the highest yield since January 14, 2025, according to market data.Factors Driving Yield Increase Mataprasad Pandey, Vice President at Arete Capital (Choice Group), attributed the yield increase to several factors. He noted that crude oil prices have surged above USD 110 per barrel, fueled by heightened tensions...

Sharp Business Systems Partners with Amber Enterprises to Localize Air Conditioner Production Manufacturing Expansion Fuels Cooling Market Ambitions New Delhi, March 23 – Sharp Business Systems (India) Pvt Ltd announced a strategic partnership with Amber Enterprises India Ltd to manufacture air conditioners locally in India. This move is designed to bolster the company’s expansion plans within one of the world’s fastest-growing cooling markets.Sharp Business Systems (India) Pvt Ltd, the wholly-owned Indian arm of Japan’s Sharp Corporation, stated that the collaboration will strengthen its manufacturing ecosystem and reinforce its commitment to the Indian market.Over the next five years, Sharp aims to capture a 2-3 per cent share of...