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    Government Strengthens Institutional Credit Framework for Agriculture and Allied Sectors
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March 17, 2026
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Priority sector lending targets and Kisan Credit Card expansion improve institutional credit access for agriculture and allied sectors.
Ground Level Credit targets are set annually by region, agency and loan category with dedicated allied activity targets; Priority Sector Lending mandates a specified allocation of Adjusted Net Bank Credit to agriculture including a sub target for Small and Marginal Farmers, supported by district incentive/dis incentive measures; Kisan Credit Card coverage and the Modified Interest Subvention Scheme provide concessional short term finance with prompt repayment incentives; collateral free short term loan limits were raised; NABARD prepares district Potential Linked Credit Plans and extends short and long term refinance and concessional support to rural financial institutions and targeted subsectors.
March 17, 2026
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Currency depreciation pressures foreign exchange stability and may prompt central bank intervention to stabilise markets.
Sharp currency depreciation against the US dollar, driven by rising crude prices and continued foreign institutional investor outflows, has tightened external balances and coincided with rising wholesale inflation. The central bank may deploy market-stabilising tools-including forex intervention and reserve management-while monitoring international monetary policy and domestic macro indicators to calibrate responses and guide short-term USD-INR trading ranges.
March 17, 2026
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Priority handling of incoming LPG vessels mandated to ensure expedited, safe ship-to-ship transfers and uninterrupted domestic fuel supply.
Ministry directive mandates priority handling of incoming LPG vessels at Vadinar, requiring expedited ship-to-ship transfers to daughter vessels and strict adherence to safety protocols. Vadinar port authority must ensure maximum operational efficiency, rigorous multi-agency monitoring, and elimination of procedural bottlenecks so transfers and subsequent discharges at eastern ports are completed as expeditiously as possible.
March 17, 2026
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Power tariff stability with ToD concessions and storage-driven renewable integration to meet industrial and data centre demand.
Maharashtra maintains a stable tariff regime while revising the Time-of-Day (ToD) tariff to align with solar generation-offering daytime concessions-and plans further tariff reductions to support industry and data centre growth. The policy pairs renewable targets (52% by 2030; 65% by 2035) with large-scale battery and pumped storage investments to ensure grid stability and round-the-clock cheaper power, and notes regulatory procurement estimate corrections that avoided potential financial stress.
March 17, 2026
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Digital credit access expanded through personalised cards, instant credit to loan conversion, EMI options and fraud protection.
AU Small Finance Bank expands digital, personalised consumer credit through a diversified credit card portfolio including a fully customisable card, co branded professional cards, upgrade pathways without fees, instant paperless conversion of credit limits into personal loans, and EMI conversion of purchases supported by digital tools, instant card controls, and zero liability protection to promote responsible, technology enabled access for young and first generation credit users.
March 17, 2026
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Cross border payments compliance improved: one day USD to INR settlement with transparent FX pricing and automated remittance documentation.
ECL Flow is a cross border payments platform for AI and SaaS companies that provides one business day USD to INR settlement, transparent foreign exchange pricing, automated compliance documentation including foreign inward remittance certificates, and real time payment tracking to reduce delays, clarify FX costs, and improve cash flow predictability for payroll and vendor payments.
March 17, 2026
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Safe maritime passage secured through diplomacy enabled LPG carriers to transit the Strait of Hormuz and reach Indian ports.
Negotiations between Indian authorities and Iranian counterparts secured safe passage for Indian-flagged LPG vessels through the Strait of Hormuz amid conflict, enabling the Shivalik and Nanda Devi to transit from the west side of the strait and proceed to Indian ports. Vessels maintained standoff distances until receiving clearance from headquarters; cargo discharge was allocated across Mundra and Mangaluru with the other vessel expected at Kandla. The incident is set against India's significant dependence on West Asian energy supplies and the blockade-related stranding of multiple ships.
March 17, 2026
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Competition law: adapt enforcement and regulation for digital markets and AI to prevent ecosystem entrenchment and ensure interoperability.
The Conference emphasised the central role of competition law and economics in preventing concentration and exclusion, identifying four institutional pillars-contestability, information symmetry, non discriminatory infrastructure access, and independent enforcement-and called for adaptation of the competition toolkit for digital markets and AI to prevent ecosystem entrenchment and ensure data portability and interoperability. It noted regulatory steps including operationalising 2023 amendments, a revised cost of production regulation for predatory pricing, a proactive approach to combinations, use of a settlement mechanism, and a market study plus guidance on AI risks and self audit measures.
March 17, 2026
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Trade Growth: combined exports rising with widening import-driven deficit as services surplus offsets merchandise shortfall.
Combined merchandise and services exports for April-February 2025-26 are estimated at US$ 790.86 billion, up from US$ 747.58 billion, while combined imports are estimated at US$ 900.51 billion, producing a widened trade deficit. Merchandise exports rose modestly to US$ 402.93 billion against imports of US$ 713.53 billion, increasing the merchandise deficit. Services exports of US$ 387.93 billion and services imports of US$ 186.98 billion generate a sizeable services surplus that partially offsets the merchandise shortfall.
March 16, 2026
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Foreign exchange intervention stabilisation: RBI action counters pressures from crude-led trade shock and capital outflows.
The rupee strengthened marginally as equity gains and a softer US dollar offset pressures from rising crude prices and foreign outflows; analysts cited elevated oil import demand widening the trade deficit and placed part of the currency stabilisation on foreign exchange intervention by the Reserve Bank, with near term exchange rate direction to be influenced by global central bank decisions, US data, energy prices, and portfolio flows.
March 16, 2026
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Hoarding enforcement intensifies to curb illegal LPG stockpiling and stabilise supplies amid import-route disruptions.
State and local authorities increased enforcement against illegal LPG stockpiling and black marketing, conducting coordinated raids and inspections, registering cases under the Essential Commodities Act, seizing cylinders and detaining suspects, while governments and petroleum entities emphasised coordination among enforcement, distributors and oil-marketing companies and rolled out incentives to shift consumers from LPG to piped natural gas to stabilise supplies amid import-route disruptions.
March 16, 2026
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CURE Act statutory framework proposed to unify agencies and guide Telangana's urban development and economic transformation.
The state advances a spatially differentiated development strategy under the CURE-PURE-RARE framework and proposes a statutory governance structure through the CURE Act to replace the existing municipal framework, unify multiple agencies, and coordinate urban planning and infrastructure delivery to realise the Telangana Rising Vision 2047 and interim economic targets.
March 16, 2026
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Freedom of navigation: attacks on shipping and chokepoint security disrupt energy transit and prompt military protection measures.
Cross-border strikes and missile/drone barrages have produced damage to religious and civilian sites and disrupted maritime transit through the Strait of Hormuz, prompting military measures to protect freedom of navigation. The conflict has caused energy-market volatility and operational responses including alternative export routing and calls for allied naval presence. Incidents involving non state armed groups have prompted government statements prohibiting unauthorized armed activity and raised displacement and peacekeeping protection issues.
March 16, 2026
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Energy and trade security risks may disrupt exports and rural employment, prompting calls for contingency fiscal measures.
Parliamentary debate on the Appropriation Bill warned that the West Asia conflict and strained ties could disrupt Gulf trade routes, reduce exports, and displace millions of rural and semi urban workers, urging contingency plans for returning workers and protection of dependent families. The discussion flagged supply risks to LPG and fertilisers due to import dependence, noted a supplementary demand for additional nutrient based subsidy allocation, and criticised replacement livelihood frameworks for weakening existing employment guarantees, calling for targeted fiscal measures and timely notification of support schemes.
March 16, 2026
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Trade investigations risk harming bilateral economic relations as tariff measures prompt diplomatic concern ahead of planned visit.
China warned that US trade investigations into foreign manufacturing, launched after the US Supreme Court struck down earlier tariffs, could interfere with or damage bilateral economic and trade relations, and conveyed serious concern that investigation outcomes and subsequent tariff actions might undermine recently stabilised China-US economic ties reached after a prior tariff war and truce.
March 16, 2026
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War risk insurance denial halts rice exports, prompting calls for emergency relief to sustain mills and protect workers.
The West Asia conflict has caused export holds and storage backlogs for Bundi-Kota Basmati rice, with shipping companies denied war risk insurance and imposing steep surcharges, depressing local prices and creating storage and employment risks; millers request special government concessions and a targeted relief package to sustain production and protect workers.
March 16, 2026
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Free Trade Agreement implementation advances, coupled with Security and Defence Partnership to prioritise efficient delivery and regional stability.
The EU and India are concentrating on operationalising the recently concluded Free Trade Agreement and the signed Security and Defence Partnership, prioritising efficient implementation to deliver benefits to both populations; discussions also identified de escalation, stability and energy security as shared objectives while advancing practical trade measures and defence cooperation.
March 16, 2026
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Safe passage of Indian-flagged vessels ensured amid Strait of Hormuz disruptions through coordinated maritime measures and port relief.
Indian-flagged vessels faced disruption after an attack on the Fujairah oil terminal; the tanker Jag Laadki sailed safely from Fujairah and is due at Mundra. A DG Shipping Control Room and an inter-ministerial group are coordinating with ports and Customs to monitor movements, repatriate crew, and ensure seafarer welfare. Ports have offered operational and commercial relief-priority discharge, concessions on anchorage, berth hire and storage, temporary transshipment storage, and rebates on reefer plug-in charges-to maintain continuity of crude, gas and LPG supply chains and maritime trade.
March 16, 2026
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Digital payments governance reinforces technical safeguards and reporting avenues, enhancing adoption while addressing fraud and inclusion challenges.
Unified Payments Interface drives the majority of retail digital transactions, underpinned by incentives, interoperability and inclusion measures, while technical and procedural safeguards - including device binding, two factor authentication, transaction limits and AI/ML fraud monitoring - together with awareness campaigns and national reporting platforms, form the framework for fraud mitigation and secure adoption across urban and rural users.
March 16, 2026
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Financial inclusion expanded through flagship schemes broadening access to banking, insurance, pensions and credit for underserved groups.
The central effort advances financial inclusion via flagship schemes that expand access to banking, insurance, pensions and collateral free credit for underserved households and micro enterprises, leveraging the JAM (Jan Dhan Aadhaar Mobile) digital pipeline to deliver welfare benefits through Direct Benefit Transfer.

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Customs & Trade

India joins US-led 'Pax Silica' alliance to bolster AI and critical minerals supply chains

February 20, 2026

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New Delhi, Feb 20 (PTI) India on Friday joined the US-led strategic alliance called 'Pax Silica' that aims to build a resilient supply chain for critical minerals and artificial intelligence with both sides projecting it as an initiative to cut over-dependence on one country, seen as an oblique apparent reference to China.

US Under Secretary for Economic Affairs Jacob Helberg, welcoming India to the coalition, flagged challenges arising out of "massively over-concentrated" supply chains for critical minerals and "threats of economic coercion and blackmail".

Though Helberg didn't name any country, it was almost clear that his remarks were directed at China's export controls on rare earth minerals and related products.

China has been controlling the flow of rare earth minerals which have a wide range of applications including in electronics, clean energy, aerospace, automotive, and defence sectors.

US Ambassador Sergio Gor, welcoming India to Pax-Silica, said the country brings strength to the coalition.

"Policies that will reinforce US-India tech cooperation will power AI innovation and adoption for years to come. We can share trusted AI technology with the world and especially with partners like India," he said.

"And critically, India brings strength. Peace doesn't come from hoping adversaries will play fair. We all know they won't. Peace comes through strength. India understands this. India understands strong borders," he said.

"India understands this part of the world. That strength, that sovereignty is exactly what Pax-Silica amplifies. Because here's the truth, strength multiplies when it's connected." India signed a pact to formally join the Pax Silica at a ceremony held at the AI Impact summit. It was attended by Union Minister for Electronics and Information Technology Ashwini Vaishnaw, Helberg and Gor.

In his address, Vaishnaw framed the moment as one that transcends a ceremonial signing.

"We are not just holding a summit; we are building the future," he said, emphasising that new foundations and new opportunities are being created for the younger generation.

He underscored India's growing semiconductor capabilities, stating, "Today, India's talented engineers are designing the world's most advanced two-nanometer chips. The semiconductor industry will require around one million new skilled professionals, and this is a very big opportunity for India." New Delhi's decision to join the coalition came amid efforts by both sides to finalise the proposed trade deal and move forward on several other initiatives to solidify bilateral ties after a period of severe strain.

"For too long, we have allowed the foundations of our economic security to drift. We find ourselves grappling with a global supply chain that is massively over-concentrated," Helberg said.

"We watch as our friends and allies face daily threats of economic coercion and blackmail, forced to choose between their sovereignty and their prosperity." Helberg said the US and India are affirming their embrace of a pro-innovation approach to AI and forging a supply chain for a solid foundation for prosperity.

"So today, as we signed the Pax-Silica declaration, we say no to weaponised dependency, and we say no to blackmail. And together, we say that economic security is national security.

"But we must be precise about what that word means. There are some who use the words like global governance and sovereignty in the same breath, just like Orwell used," he said.

The senior Trump administration official added: "We are building a new architecture that diffuses intelligence, placing the awesome power of AI into the palm of our people's hands and unleashing a wave of unprecedented possibility." In his remarks, Gor said Pax-Silica will define the 21st century economic and technological order and said India will play a key role in the new initiative.

"India's entry into Pax-Silica isn't just symbolic. It's strategic. It's essential. India is a nation with deep talent, deep enough to rival challengers," he said.

"India's engineering depth offers critical capabilities for this vital coalition. In addition to talent, India has made important strides towards critical mineral processing capacity, and that's something that we're fully engaged on also," he said.

The US ambassador also spoke about the "limitless potential" for cooperation between India and the US.

"From the trade deal to Pax-Silica to defence cooperation, the potential for our two nations to work together is truly limitless. And I aim to fulfill that over the next three years that I'm here," he said.

Gor also made a mention of the proposed India-US trade pact.

"Earlier this month, we concluded the interim trade agreement, a deal that shapes the economic contours of the Indo-Pacific. We overcame friction points that had held us back for far too long," he said.

"That agreement wasn't just about trade flows or tariff schedules. It was about two great democracies saying we will build together, not just buy from one another. And now today, we take the next step," he said.

The US envoy described Pax-Silica as a "coalition of capabilities" that replaces "coercive dependencies with a positive sum alliance of trusted industrial bases." "We welcome India joining to co-found the future. Pax Silica is about whether free societies and it will control the commanding heights of the global economy," he said.

"It's about whether innovation happens in Bengaluru and Silicon Valley or in surveillance states that use technology to monitor and control their people. We choose freedom. We choose partnership. We choose strength. And today, with India's entry into Pax Silica, we choose to win," he added.

Pax Silica was launched in December to build a secure, resilient, and innovation-driven supply chain for critical minerals and artificial intelligence (AI).

The Pax Silica Summit was held in Washington on December 12 where partner nations signed the Pax Silica declaration.

The declaration lays out a shared vision of deep economic and technology cooperation across supply chains -- from raw materials through semiconductors and AI infrastructure -- and commitment to mutual prosperity and security.

The member nations of the Pax Silica included Australia, Greece, Israel, Japan, Qatar, Republic of Korea, Singapore, the United Arab Emirates and the United Kingdom.

Gor last month announced an invitation to New Delhi to join the strategic alliance.

One of the key pillars of Pax Silica was to establish a durable economic order to drive AI-powered prosperity across partner nations. PTI MPB ZMN

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