Business

5G Innovation Hackathon 2026 Launched: DoT Invites Entries, Offers Funding and ₹10 Lakh Prize Pool Government Opens Submissions Under ‘100 5G Use Case Labs’ Initiative New Delhi, March 21: The Department of Telecommunications (DoT) has launched the second edition of the ‘5G Innovation Hackathon 2026’, aimed at accelerating the development of next-generation telecom solutions using 5G and allied technologies.The initiative is part of the government’s ‘100 5G Use Case Labs’ programme, with submissions open until April 17. The hackathon is designed to encourage scalable and innovative applications across sectors by leveraging advanced telecom capabilities.Participation Open for Students, Startups, and MSMEs The hackathon invites...

New Delhi, March 20 Days after the resignation of HDFC Bank chairman Atanu Chakraborty, citing ethical concerns, the bank has terminated the services of three employees for gaps in client onboarding at its Dubai International Financial Centre (DIFC) branch.According to sources, HDFC Bank has fired three senior executives over the alleged mis-selling of Credit Suisse's additional tier-1 (AT-1) bonds.Following the allegations of mis-selling, the local regulator -- Dubai Financial Services Authority -- barred HDFC Bank from onboarding new customers at its DIFC branch last September.When approached for a comment, the bank said in a statement that it has identified certain gaps in client-onboarding requirements at its DIFC branch in...

Ahmedabad, March 20 There is sufficient supply of cooking gas in Gujarat, and oil marketing companies have ensured home delivery of cylinders, the state government said on Friday, amidst the West Asia crisis.In a statement, the BJP government in the state said that technology-based arrangements have been made to ensure that cylinders can be conveniently delivered to homes."Registered citizens can now easily book LPG cylinders via WhatsApp, missed calls, SMS/IVR, smartphone applications, or official company portals. In addition, cylinders can also be booked via partner wallets or banking apps through the Bharat Bill Payment System," it said.All bookings follow a structured digital process, and customers receive confirmation via...

New Delhi, March 20 Goldman Sachs and ICICI Prudential Mutual Fund collectively purchased over 43.40 lakh shares of real estate major DLF for nearly Rs 231 crore through open market transactions on Friday.According to BSE block deal data, Goldman Sachs, through its affiliate Goldman Sachs Investments Mauritius I Ltd, and ICICI Prudential Mutual Fund (MF) purchased 21,70,473 shares each, representing a combined 0.17 per cent stake in Gurugram-based DLF.The shares were acquired at an average price of Rs 531.7 per share, resulting in a combined transaction value of Rs 230.81 crore.Meanwhile, the British investment management firm Baillie Gifford & Co., through its two affiliates and Best Investment Corporation, also offloaded the...

New Delhi, March 20 Simplex Castings, a company specializing in metallurgy and casting solutions, announced on Friday that it had secured orders worth ₹41.38 crore from BHEL, ThyssenKrupp, SMS Group, and others.Among these orders, the company has secured a ₹23.13 crore project from the SMS Group for the supply of Coke Oven Doors, according to a company statement.The company has also received an order of ₹13.02 crore from the ThyssenKrupp Group, over ₹7 crore from BHEL, and other smaller projects related to fabrication and castings, it added."These bookings strengthen the company's order pipeline to ₹61.98 crore for March 2026, providing a strong business boost for order inflows," Simplex stated."On a macro level, several large...

Mumbai, March 20 The Reserve Bank announced on Friday that it has imposed a fine of ₹31.8 lakh on Hongkong and Shanghai Banking Corporation for non-compliance with certain directions related to inactive accounts and unclaimed deposits.In a statement, the Reserve Bank said that a statutory inspection was conducted for supervisory evaluation of the bank, with reference to its financial position as of March 31, 2025.Based on the supervisory findings of non-compliance with the provisions of RBI directions and related correspondence, a notice was issued to the bank.After considering the bank's response to the notice, additional submissions, and oral arguments made during the personal hearing, the RBI said that the charges against the...

New Delhi, March 20 The initial public offering of Central Mine Planning and Design Institute Ltd, a subsidiary of state-owned Coal India, received subscriptions worth 7 per cent on the first day of the share sale on Friday.According to NSE data, the IPO received bids for 52,44,320 shares, compared to the 7,97,89,500 shares on offer.The category for Retail Individual Investors (RIIs) received 10 per cent subscription, while the quota for non-institutional investors received 5 per cent subscription.Central Mine Planning and Design Institute (CMPDIL) announced on Wednesday that it had raised Rs 470 crore from anchor investors.CMPDIL's Rs 1,842-crore initial public offering (IPO) will conclude on March 24.The price band has been...

New Delhi, March 20 The price of premium or higher-grade petrol increased by Rs 2 per litre on Friday, while the rate of bulk diesel sold to industrial users was hiked by about Rs 22 per litre, reflecting the spike in global oil prices amid the conflict in the Middle East.However, the price of normal petrol and diesel remains unchanged.The price of 95-Octane petrol in Delhi has increased from Rs 99.89 per litre to Rs 101.89 in the national capital, according to industry sources.Alongside, the price of bulk or industrial diesel was hiked from Rs 87.67 per litre to Rs 109.59 in Delhi.International oil prices touched USD 119 per barrel on Thursday due to the intensifying Iran-related conflict, before falling back to around USD 108...

Rupee Hits Record Low of 93.71 Amid Rising Crude Prices and Geopolitical Tensions Mumbai, March 20 – The Indian rupee plunged by 82 paise, or nearly 1%, to close at a provisional all-time low of 93.71 against the US dollar on Friday. The sharp fall was driven by sustained foreign fund outflows and a surge in crude oil prices amid escalating geopolitical tensions.Persistent Pressure on the Rupee Forex traders noted that the rupee is under significant pressure due to rising crude oil prices and a shift towards risk-averse sentiment among investors. Heightened geopolitical uncertainty is further contributing to higher energy costs, potentially widening the trade deficit and adding to inflationary pressures.At the interbank foreign...

Zomato Raises Platform Fee by 19.2% to Rs 14.90 Per Order Amid Rising Costs Platform Fee Increased for Customers Across Orders New Delhi, March 20: Food delivery platform Zomato has raised its platform fee by 19.2 per cent, increasing it by Rs 2.40 per order, according to the latest billing details on its app on Friday.On a pre-GST basis, the platform fee now stands at Rs 14.90 per order, compared to the earlier Rs 12.50.Rising Energy Costs Drive Pricing Adjustment The latest revision comes at a time when rising energy costs, including LPG and crude oil, have pushed up operating expenses for restaurants and delivery partners. This has led food delivery platforms to recalibrate pricing structures to manage cost pressures.Zomato had...

Crop Loss Assessment Ordered After Unseasonal Rain and Hailstorms Damage Rabi Crops Agriculture Minister Directs States to Ensure Accurate Evaluation and Timely Insurance Processing New Delhi, March 20: Agriculture Minister Shivraj Singh Chouhan on Friday directed officials to work closely with state governments to assess crop losses accurately after unseasonal rainfall and hailstorms damaged standing rabi crops, including wheat, across multiple states.Adverse Weather Hits Crops Near Harvest Stage Chairing a comprehensive review of the country’s agricultural situation, the minister noted that the adverse weather struck at a critical time when crops were ripe and ready for harvest.He stated that several regions experienced both heavy...

Indian Stock Market Ends Higher but Trims Gains as Iran-Israel Tensions Weigh on Sentiment Nifty and Sensex Close in Green Amid Late Volatility Mumbai, March 20: Indian equity markets ended Friday’s session in positive territory, although benchmark indices pared a portion of their intraday gains in the final hour as escalating tensions between Iran and Israel pushed crude oil prices higher and impacted investor sentiment.The Nifty 50 closed up by 112.35 points at 23,114.50, while the Sensex gained 325.72 points, or 0.44 per cent, to settle at 74,532.96.Rising Oil Prices Trigger Late Sell-Off Markets traded firmly higher for most of the session, but volatility intensified toward the close after reports of fresh clashes between Iran...

Unseasonal Rain and Hailstorms Damage Rabi Crops, Agriculture Minister Orders Swift Assessment Government Directs States to Assess Crop Losses Amid Adverse Weather New Delhi, March 20: Agriculture Minister Shivraj Singh Chouhan on Friday reviewed the damage caused by unseasonal rainfall and hailstorms to standing rabi crops, including wheat, and directed officials to work closely with state governments to ensure an accurate assessment of losses.Chairing a comprehensive review of the country’s agricultural situation, the minister noted that the adverse weather conditions have affected multiple states at a critical stage when crops were ripe and ready for harvest.Hailstorms and Rainfall Impact Standing Crops Highlighting the severity...

IEA Recommends Speed Limits, Remote Work, and Reduced Air Travel to Tackle Oil Crisis Middle East Conflict Triggers Historic Oil Supply Disruption New Delhi, March 20: The International Energy Agency has proposed a series of immediate measures including lowering highway speed limits, promoting remote work, and reducing air travel to ease the economic burden on consumers amid a severe global oil supply disruption caused by the ongoing Middle East conflict.The disruption, described as the largest in the history of the global oil market, has significantly impacted shipments through the Strait of Hormuz, a critical route that typically accounts for nearly 20 percent of global oil consumption. With flows reduced to minimal levels, global...

Bharat Electricity Summit 2026: Power Minister Stresses Energy Security, Sector Reforms at Ministerial Meet Focus on Energy Security and Growth at National Power Meeting New Delhi, March 20: As the Bharat Electricity Summit 2026 entered its second day on Friday, a national power ministerial meeting chaired by Union Power Minister Manohar Lal focused on energy security, sector reforms, and future growth strategies.Addressing the gathering, the minister said the summit would play a crucial role in achieving the vision of Viksit Bharat 2047, underlining the importance of the power sector in supporting economic growth and infrastructure development.India Crosses 520 GW Installed Power Capacity Highlighting recent progress, Manohar Lal...

Vedanta Flags Land, Clearance Hurdles as 85% of Auctioned Mines Remain Non-Operational Anil Agarwal Calls for Faster Execution to Boost India’s Resource Security New Delhi, March 20: Vedanta Chairman Anil Agarwal has identified three major bottlenecks delaying the operationalization of mines in India, urging swift policy action to strengthen the country’s energy and mineral security.Highlighting the challenges, Agarwal pointed to difficulties in land acquisition, delays in environmental and forest clearances, and high mining premiums that render several projects commercially unviable. He stressed the need for faster execution of mining projects after auctions, especially amid rising global uncertainties, including tensions in the...

India Stresses Energy Security Amid Global Tensions at Bharat Electricity Summit 2026 Centre Calls for Coordinated Power Sector Efforts Across States New Delhi, March 20: Union Power Minister Manohar Lal on Friday underscored the critical importance of energy security as geopolitical tensions continue to impact global energy dynamics.Speaking at a ministerial meeting during the Bharat Electricity Summit 2026, the minister highlighted the need for stronger coordination between the Centre and state governments to ensure affordable, efficient, and reliable power generation, transmission, and distribution across the country.Push for Higher Energy Consumption and Renewable Transition Emphasizing long-term energy resilience, Lal called...

Suraksha Sankalp Workshop Focuses on Strengthening HIV Response in Delhi and Haryana Health Ministry Pushes District-Level Action to Improve HIV Diagnosis, Treatment, and Retention New Delhi, March 20: The Ministry of Health and Family Welfare on Friday organized the Suraksha Sankalp Workshop in New Delhi to strengthen the HIV/AIDS response at the district level, with a specific focus on Delhi and Haryana, according to an official statement.The workshop, conducted by the National AIDS Control Organisation, brought together district programme teams to review progress, discuss operational challenges, and formulate targeted action plans aimed at improving grassroots-level HIV interventions.Collaborative Platform to Enhance HIV...

MCX Crude Declines After Three-Day Rally New Delhi, March 20: Crude oil prices declined sharply in futures trading on Friday, with rates falling by Rs 190 to Rs 8,808 per barrel as traders assessed the possibility of additional Iranian supply entering the global market.On the Multi Commodity Exchange (MCX), crude oil contracts for April delivery ended a three-day rally, slipping 2.11 percent in a total business turnover of 18,781 lots.Global Oil Benchmarks Also Trade Lower The weakness in domestic crude prices mirrored global trends. In overseas markets, West Texas Intermediate (WTI) futures for May delivery dropped by USD 1.85, or nearly 2 percent, to USD 93.70 per barrel.Meanwhile, Brent crude for the same contract edged lower...

Income-tax Rules 2026 Notified: HRA Benefits Expanded, Stricter Disclosure Norms Introduced New Tax Framework to Take Effect from April 1, 2026 New Delhi, March 20: The Central Board of Direct Taxes on Friday notified the Income-tax Rules, 2026, paving the way for the implementation of the Income-tax Act, 2025 from April 1, 2026. The new framework aims to simplify India’s direct tax system while tightening compliance and disclosure requirements.According to the gazette notification, the rules will officially come into force at the start of the new financial year.Simplified Law Replaces Six-Decade-Old Act The Income-tax Act, 2025, passed by Parliament on August 12, 2025, replaces the longstanding Income Tax Act, 1961. The new...