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March 12, 2026
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Asset attachment under PMLA triggers provisional seizure of properties linked to alleged diversion of public funds.
Provisional attachment proceedings under the Prevention of Money Laundering Act were issued to seize multiple land parcels linked to RHFL and RCFL following searches and an investigation that alleges public funds raised by those companies were diverted into group entities through numerous shell entities, converting substantial lending into non-performing assets and prompting action based on a predicate FIR and bank complaints.
March 12, 2026
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Rural credit mobilisation expands refinance and direct lending to strengthen women-led enterprises and farmer producer organisations.
Launch of rural financing and support initiatives to strengthen women-led enterprises, FPOs and rural livelihoods through credit linkages, infrastructure support and value-addition units. The package combines refinance and direct lending channels, supplemented by Rural Infrastructure Development Fund allocations, and includes distribution of sanction letters and disbursements to JLGs and FPOs alongside credit outreach to banks, implementing agencies and beneficiaries.
March 12, 2026
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Inflation target band preserved as CPI edges higher due to food-led pressures, keeping rate policy pause plausible.
Retail inflation rose but remained within the central bank's inflation target band, driven mainly by food prices while core inflation stayed unchanged; analysts cautioned that geopolitical-driven crude price rises could transmit into CPI and support a near-term pause in policy easing. Data use the 2024 CPI base and show regional variation, compiled from urban and village price collection.
March 12, 2026
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Religious conversion allegations dismissed as the couple present identity documents and registered marriage to affirm consent and age.
Allegations that the marriage constituted love-jihad and involved religious conversion were denied by the parties, who stated both remained in their respective faiths and that the wedding was solemnised according to Hindu customs. The couple produced identity documents and a marriage certificate to support the assertion that the bride was an adult and that the marriage was registered, emphasising consent and denying reports of underage marriage.
March 12, 2026
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Sanctions debate intensifies as advocacy groups cite increased fossil fuel export revenues influencing calls for tougher measures.
Analysis showing Russia earned nearly USD 7 billion from fossil fuel exports during the Iran war and that daily export revenues averaged materially higher prompted a German nonprofit and research groups to urge tougher sanctions on those exports while another government considers easing restrictions.
March 12, 2026
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NBFC registration: RBI-registered gold-loan lender reports strong AUM growth and emphasizes disciplined underwriting and technology investments.
Finkurve Financial Services Limited (Arvog), an RBI-registered non-deposit-taking middle-layer NBFC, has expanded its secured lending business predominantly through gold loans and crossed a notable AUM milestone. Growth is attributed to disciplined underwriting, prudent loan-to-value norms, collateral-backed lending, a branch-led phygital network, technology-enabled loan servicing, and strategic partnerships, with continued emphasis on asset quality, capital prudence, governance, and sustainable expansion.
March 12, 2026
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Priority supply of domestic LPG sought to enforce export restrictions and secure household allocations amid supply disruption.
Six LPG distributors allege a supplier refused to reallocate LPG from export channels to the domestic market despite Ministry directions prioritising household supplies; they seek orders compelling the supplier to halt exports and increase domestic allocations, identifying the petroleum ministry as policy authority and the trade directorate as competent on export restrictions.
March 12, 2026
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FDI relaxation for land-border ownership reduces mandatory approval requirements, enabling limited bordering-country stakes to invest.
India amended its FDI rules to exempt from mandatory approval overseas firms incorporated outside land-bordering countries that have non-controlling beneficial owners from those countries below a specified threshold, while continuing mandatory approval for entities domiciled in bordering countries; sectoral caps and entry routes remain applicable and large-scale or controlling investments follow the previous approval process, with a limited fast-track approval available for certain sectors.
March 12, 2026
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Economic Stabilisation Fund seeks parliamentary approval as a fiscal reserve to shield the economy against future shocks.
The government has tabled a second batch of Supplementary Demands for Grants for 2025-26 requesting parliamentary approval to create an Economic Stabilisation Fund as a reserve for future shocks and to provide additional allocations for fertiliser and food subsidies and defence expenditure, with debate reflecting both support for fiscal preparedness and objections on transparency and social impact.
March 12, 2026
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LPG supply prioritisation may restrict commercial fuel access, disrupting restaurants and raising input costs for consumer firms.
Government prioritisation of LPG for domestic cooking and essential services has produced restrictions on commercial supplies, limiting fuel access to non-essential enterprises like quick-service restaurants. High import dependence and transit concentration through the Strait of Hormuz, absence of strategic LPG reserves, and regulatory storage licensing combine with limited channel inventory to create operational risk that can impact commercial operations within 48-72 hours and contribute to higher input costs for glass, plastics, FMCG and related sectors.
March 12, 2026
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RRB reforms prioritize IT modernization and vernacular digital services to boost inclusion and operational resilience across rural banking.
A reform roadmap for Regional Rural Banks focused on strengthening governance, operational resilience and technology adoption through consortium approaches and IT modernization. Emphasis was placed on vernacular digital offerings and structured customer feedback to improve engagement and financial inclusion, alongside targeted measures in agri financing innovation, human resource development, and stakeholder collaboration.
March 12, 2026
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Aadhaar authentication questioned; court orders Railway Board to file response on mandatoriness for tatkal bookings within three weeks
The Kerala High Court directed the Railway Board to file a response within three weeks on whether Aadhaar based authentication is mandatory for tatkal bookings, in a public interest litigation challenging a central government circular, and reprimanded the Board for months of unexplained delay.
March 12, 2026
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Section 301 investigations target foreign industrial policies, enabling potential retaliatory trade measures after public review and hearings.
Section 301 investigations have been initiated to determine whether the industrial policies and practices of certain trading partners are unreasonable or discriminatory and burden US commerce, focusing on sectors such as steel, autos, batteries, electronics, chemicals, machinery, semiconductors and solar modules; the process includes public submissions, hearings and consultations, and may lead to retaliatory trade measures tied to identified practices such as state subsidies, state-owned enterprise activity, market-access barriers, currency practices or suppressed domestic demand.
March 12, 2026
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Security protocol: Blue Book and SPG rules govern dais attendance and identity checks at official inaugurations.
Attendance and access to the Prime Minister's public programme were governed by the Blue Book protocol and the Special Protection Group's operational limits on dais attendance; organisers stated that requests to include particular state ministers could have been accommodated if made in advance, and SPG identity and security procedures, including presentation of identity documents, were routine and applied regardless of an attendee's office.
March 12, 2026
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Industry-start-up collaboration to enable mentorship, testing, PoC programmes and field trials for cooling and smart-appliance technologies.
A government ministry and a private enterprise entered a Memorandum of Understanding to facilitate industry-start-up collaboration by identifying start-ups in cooling and smart-appliance technologies and providing mentorship, technical guidance, access to testing infrastructure, market linkages, innovation challenges, and participation in structured Proof-of-Concept programmes and field trials for product validation and technology integration.
March 11, 2026
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Energy supply diversification: India shifts toward Russian crude to offset Strait of Hormuz disruptions and protect fuel flows.
India increased Russian crude imports to offset shipments halted through the Strait of Hormuz, reducing the immediate shortfall from Middle Eastern supplies while maintaining refined product availability. The Strait of Hormuz is identified as a critical chokepoint for crude, LPG and LNG; mitigation measures include supplier diversification, enhanced Russian flows, and refinery adjustments to maximise LPG recovery, though such optimisations yield only marginal increases and leave a significant import dependency.
March 11, 2026
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LPG supply assurance: household supplies prioritized, measures to prevent hoarding and secure alternate imports and maintain continuity.
The government affirms domestic LPG stocks and diversified procurement are sufficient to meet household cooking needs despite Strait of Hormuz disruptions. Refinery adjustments have boosted domestic LPG output and LNG cargoes have been secured; imports have been rerouted. Measures prioritise household distribution, curtail non-domestic deliveries, adjust pricing and refill intervals, and establish a committee to allocate commercial supplies. State and central authorities are directed to prevent hoarding and coordinate to maintain energy security and uninterrupted essential supplies.
March 11, 2026
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Money laundering probe under PMLA registered and searches conducted after alleged diversion of government funds into shell entities and real estate.
Enforcement Directorate registered a case under the Prevention of Money Laundering Act and searched multiple premises after a vigilance FIR alleging that bank employees and private associates diverted Haryana government funds, used accommodation (hawala) entries, transferred money to shell companies and small jewellery entities, and channelled proceeds into purported gold purchases and real estate, with significant cash withdrawals noted.
March 11, 2026
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Model policy for digital service delivery to standardise Maha e-Seva and Aadhaar centre operations, ensure timely services and operator viability.
Directed formulation of a model framework and comprehensive policy within one month to standardise delivery of government digital services through Maha e-Seva and Aadhaar service centres, ensuring timely citizen access while preserving operator viability. Immediate administrative measures include release of pending commissions, a joint meeting to address deposit refunds, and establishment of a study group to assess actual operational costs for centre operations.
March 11, 2026
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Money laundering probe targets alleged diversion of government deposits at a private bank, prompting searches and shell company tracing.
Enforcement Directorate searches under the Prevention of Money Laundering Act allege that government deposits at a private bank were diverted instead of being placed in fixed deposits; investigations target business entities, ex-bank officials, beneficiaries and real estate agents accused of providing accommodation entries. The agency alleges proceeds were routed through shell companies, layered through transactions, disguised as gold purchases and real estate investments, with substantial cash withdrawals and an identified absconder.

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Customs & Trade

MRO services in India to grow to USD 5.7 billion by 2030

March 20, 2026

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Singapore, Mar 20 (PTI) Demand for Maintenance, Repair and Overhaul (MRO) services in India is expected to grow to USD 5.7 billion by 2030 from USD 4.4 billion in 2025, a 5.4 per cent growth per annum, a Singapore-based consultancy said Friday.

Engine MRO demand is expected to contribute almost half of this demand, with airframe and modifications slated to grow the fastest in this five-year period, according to a study report by Alan Lim and Joshua Ng, Directors of Alton Aviation Consultancy and aviation industry veterans.

Alton forecasts that India’s commercial aircraft fleet will grow to more than 1,800 aircraft by 2030, with narrow-body aircraft almost doubling from over 700 aircraft today to over 1,300, Lim and Ng said.

The directors noted that Indian airlines have already placed more than 500 aircraft for delivery over the next five years.

“To accommodate this growth, the government has committed to building more than 100 additional airports over the next six years, taking the total to over 200 by 2030, the two industry veterans told PTI.

“A rapidly expanding middle class, increased low-cost carrier penetration, and improving regional connectivity are further stimulating demand,” they said, backing their market outlook.

Beyond MRO, India is developing a broader aerospace ecosystem to support sustained aviation growth. “The government has set ambitious targets to expand domestic passenger traffic, increase the number of operational airports, and strengthen workforce and manufacturing capabilities, supported by large scale investments in airport infrastructure and new greenfield developments,” said Lim.

Ng noted, “Special economic zones, including GIFT City, are being positioned to anchor aircraft leasing and related financial services, while policies such as the ratification of the Cape Town Convention, liberalised foreign direct investment rules, and reductions in GST and customs duties on aviation components are lowering barriers for global aerospace players.

“Together, coordinated public policy and private investment are helping to build a more integrated, self-sustaining aviation value chain in India, spanning airports, leasing, aerospace manufacturing, and MRO,” they said.

The aviation-focused consultancy, which has offices across eight key aviation hubs around the globe, has highlighted recent high-profile investments in the Indian aviation sector.

Navi Mumbai International Airport commenced operations in December 2025, and Noida Airport will soon commence operations, in March 2026, with initial capacities of 12 million and 20 million passengers annually, respectively.

Dholera International Airport (planned investment of over USD 250 million, targeted completion December 2026) and Bhogapuram International Airport (planned investment of over USD 550 million, targeted completion June 2026) are set to further expand capacity.

Both Lim and Ng feel that continued investment in the supporting aviation infrastructure and services in India, especially for MRO services, is important, given that a large number of Indian aircraft are going for services outside the country including Singapore.

Several high-profile investments in recent years underscore this momentum, they added, listing aerospace focused special economic zones, including Hyderabad’s Adibatla SEZ, are attracting global suppliers such as Pratt and Whitney and Safran.

Safran inaugurated its 200 million euro LEAP engine MRO facility in Hyderabad for strengthening India’s capabilities in next generation engine overhaul.

IndiGo, in partnership with Bengaluru International Airport, has commenced development of a dedicated MRO facility to support its expanding fleet, they pointed out.

Elsewhere, Thales opened a new avionics MRO facility in India, expanding domestic repair capability in high value components, and the Adani Group acquired Air Works in December 2024 and subsequently AAR-Indamer Technics, which has consolidated its position in commercial MRO.

In February 2026, the Adani Group also signed an MoU with Embraer to establish a final assembly line for the E175 regional jet in India.

Under the Rafale programme’s 50 per cent offset clause, Dassault of France and its partners will be required to reinvest about half the contract value into India, supporting domestic manufacturing and aerospace capability development.

“Collectively, these developments signal that infrastructure capacity, manufacturing depth, and technical capabilities are beginning to scale to support the projected fleet growth, with growing participation from both domestic and international investors seeking to anchor long term aviation capabilities within India,” said Lim and Ng.

Supporting this growth will require more than continued investment from the public and private sectors. Faster parts logistics, deeper pools of skilled and certified maintenance personnel, and greater capability in higher value segments such as engines and complex components will be essential, they said.

“Close coordination between airlines, MRO providers, airports, training institutions, and policy-makers will play a critical role in building a resilient ecosystem capable of supporting India’s expanding air transport sector,” they believe.

As India’s aviation market scales, the MRO sector is set to become a core enabler of growth rather than a peripheral service, linking the country’s long term air transport outlook with industrial development and employment creation, said the duo. PTI GS PY PY PY

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