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    Rupee falls 13 paise to 92.43 against US dollar
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March 16, 2026
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Foreign exchange stability: rupee weakened as capital outflows and reserves decline increased market pressure.
Foreign exchange stability: the rupee weakened against the US dollar as foreign portfolio outflows, higher global crude prices and volatile equity markets drove the currency to near intra day lows; exchange data showed significant FII net selling and a notable weekly decline in forex reserves reported by the central bank, highlighting interacting external and domestic drivers relevant to reserve management and market stability.
March 16, 2026
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Pre-deposit linkage: link DRC-03 payments via DRC-03A on portal to avoid duplicate pre-deposit when filing appeal.
Payments made through Form GST DRC-03 are not automatically recognised against a Demand ID for pre-deposit calculation. Taxpayers must file Form GST DRC-03A on the GST portal to map the DRC-03 payment to the relevant Demand ID so that the Electronic Liability Register reflects the adjustment and the automated pre-deposit check will not require duplicate payment when filing an appeal.
March 16, 2026
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Regulatory harmonization for medical devices drives export policy to expand global market access and manufacturing competitiveness.
Strengthening India's medical devices export ecosystem focuses on regulatory harmonization, streamlining approval processes, and coordination between industry and regulators to reduce compliance bottlenecks and facilitate exports, supported by trade policy measures to improve market access. Complementary measures include development of manufacturing clusters, expansion of testing and certification capacity, and incentives for research and development and innovation to build global brand recognition and scale high value manufacturing.
March 16, 2026
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Responsible Business Conduct: integrating ESG into corporate reporting, labour protections and insolvency frameworks for better market alignment.
The consultation advanced embedding Responsible Business Conduct and the social dimension of ESG across corporate, labour and financial frameworks by mapping national initiatives to the National Guidelines on Responsible Business Conduct, aligning SEBI's Business Responsibility and Sustainability Reporting with labour and social data, designing tiered compliance mechanisms for smaller enterprises, and exploring integration of employee wage protection and ESG considerations into insolvency and restructuring under the Insolvency And Bankruptcy Code.
March 16, 2026
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Unclaimed dividend facilitation enabling direct investor access to recovery, KYC update, and on site grievance redressal services.
Facilitation of unclaimed dividends and shares via a one stop public outreach event connecting investors directly with companies and Registrars and Transfer Agents, offering on the spot KYC updates, nomination services, and immediate assistance for pending claims to streamline grievance redressal and recovery of long held unclaimed assets.
March 16, 2026
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Smuggling of foreign-origin gold disrupted with seizures and arrests under customs enforcement, highlighting illegal melting and transport.
An enforcement operation uncovered an organised syndicate smuggling foreign-origin gold into India, transporting it by rail to illegal melting facilities where the gold was defaced to remove identifying marks before sale; seizures under the Customs Act, 1962 recovered gold, silver and currency and six persons involved in the collection, transport, melting and disposal were arrested.
March 15, 2026
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Strait of Hormuz access disrupted, prompting multinational responses and elevated risks to regional shipping and energy flows.
A civilian freight convoy returning from Afghanistan to Turkey was struck near Zanjan in northwest Iran, killing a Turkish truck driver and leaving his vehicle shredded by shrapnel with a large crater at the site. Concurrent regional developments include restrictions on Strait of Hormuz access for certain states, discussion of strikes on energy infrastructure, a planned phased partial shutdown by a major aluminum producer due to blocked exports, and humanitarian and ordnance-clearance responses to civilian impacts.
March 15, 2026
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Domestic gas priority may limit commercial hotel supplies; government seeks balanced approach to prevent operational disruptions.
The central advisory mandates uninterrupted household PNG and CNG supply and has led to regulated reductions in industrial and commercial gas deliveries, with commercial LPG allocated to states for priority distribution; Maharashtra will review hotel sector concerns and seek a balanced approach to protect domestic consumers while addressing commercial supply hardships.
March 15, 2026
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Maritime safety: Indian-flagged tanker sailed from UAE after terminal attack, ensuring crew safety and fuel supply continuity.
An Indian-flagged crude tanker departed Fujairah safely after an attack on the oil terminal, with all crew reported safe. The Directorate General of Shipping has activated a control room to monitor vessel movements, handle communications, facilitate repatriation and coordinate with ship owners, RPSL agencies, Indian Missions and central ministries to ensure maritime safety, seafarer welfare and continuity of fuel supplies amid disruptions to Gulf shipping routes.
March 15, 2026
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Piped gas priority: consumers with PNG must surrender domestic LPG connections, suppliers barred from providing refills.
The Ministry amended the LPG (Regulation of Supply and Distribution) Order to require consumers with PNG connections to surrender domestic LPG connections and forbade Government oil companies and distributors from providing domestic LPG connections or refills to consumers who already own PNG, while PNGRB instructed CGD companies to prioritise and accelerate domestic PNG rollout, deployment, permissions, and last-mile connectivity to reduce pressure on LPG supplies.
March 14, 2026
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Energy security measures bolster fuel supply and exporter support amid West Asia supply disruptions with insurance cover and diversified imports.
The government has increased kerosene production as an alternative cooking fuel, diversified LPG/LNG and crude import sources to mitigate shipping-route disruptions, and maintained sufficient fuel stocks. The Commerce Ministry is engaging stakeholders through a 24-hour helpline and developing schemes that provide insurance cover for export cargo damaged, lost or delayed due to maritime disruptions, with a forthcoming concrete action agenda to support exporters.
March 14, 2026
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Advance tax e campaign alerts: taxpayers told to ignore inaccurate emails and verify transactions on the Compliance Portal.
The tax authority advised taxpayers to ignore recent email alerts about significant transactions from the Advance Tax e Campaign because some messages contained inaccurate transaction details; it is coordinating with its service provider to resolve the issue and directed taxpayers to verify details using the e Campaign tab on the Compliance Portal via the e Filing portal to ensure appropriate advance tax compliance.
March 14, 2026
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Attack on critical port infrastructure declared legitimate targets, prompting evacuation warnings and heightened risks to energy transit.
Iran threatened strikes on UAE ports, urging evacuation of Jebel Ali, Khalifa and Fujairah after alleging US forces operate from those civilian facilities and thereby designating them legitimate targets; the warning accompanies ongoing missile and drone exchanges, reported damage to Iran's Kharg Island oil export terminal and disruption of the Strait of Hormuz, while the UAE detained foreigners for posting alleged war-related disinformation.
March 14, 2026
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Exhibition centres to be established to boost industry and exports, providing platforms for product showcases and value-added agriculture.
The Punjab government will establish three world-class exhibition centres at Ludhiana, New Chandigarh and Amritsar to give industry dedicated venues to showcase products, boost commerce, attract investment and support export-oriented growth as part of a wider strategy to expand food processing, encourage agricultural diversification, and increase farmer incomes through value addition.
March 14, 2026
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Production Linked Incentive Scheme drives domestic manufacture of a critical antibiotic intermediate to reduce import dependence and boost supply resilience.
The project establishes domestic manufacture of the critical antibiotic intermediate Amino Cephalosporanic Acid (ACA) in Kathua, financed under the Production Linked Incentive Scheme with public facilitation, aiming to reduce import dependence, strengthen pharmaceutical supply resilience, generate local employment, and align with the Biopharma Shakti policy to expand national biopharmaceutical capacity.
March 14, 2026
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Police appointments: state upgrades and reassigns senior intelligence and economic offences officers, creating additional charges for related posts.
The state government upgraded and appointed B Bala Naga Devi from Additional DGP, Intelligence to DGP, Intelligence, while assigning additional charge to Santosh Kumar as Additional DGP, Economic Offences Wing and to Rupesh Kumar Meena as Additional DGP, Civil Supplies CID to maintain leadership continuity across those divisions.
March 14, 2026
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Industry support pledged to strengthen domestic manufacturing and reduce reliance on imports, with state backing for exporters.
Commitment to state-led industry support in Punjab to promote domestic manufacturing, reduce dependence on imported consumer goods, provide required environment and resources to enable local manufacturers to compete with foreign suppliers and begin exporting, and remove government interference to restore regional industrial competitiveness.
March 14, 2026
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Electricity tariff reduction sought to offset rising production costs amid fuel supply disruption and request for repayment moratorium.
Industrial associations in Chhatrapati Sambhajinagar formally sought a reduction in electricity tariffs to alleviate rising production costs from disrupted fuel supplies, alongside a moratorium on loan repayments and expedited permits for alternative fuels; these demands were compiled after an administrative request and presented to the State Industries Minister, who acknowledged limited gas stocks but urged continued operations.
March 13, 2026
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Currency depreciation driven by strong dollar, foreign outflows and rising oil prices pressures domestic exchange rate stability.
The rupee fell to a fresh record low against the US dollar amid a stronger dollar, heavy foreign portfolio outflows and sustained equity market selling. Rising crude oil prices, higher US treasury yields and geopolitical risk heightened market risk aversion, while RBI data showed a notable weekly decline in gross forex reserves; analysts warned these factors collectively impart a negative near term bias on the currency and provided a projected trading range.
March 13, 2026
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Bilateral trade agreement talks continue amid US tariffs and Section 301 investigations affecting timing of formal signing.
India and the United States continue negotiations on a first-phase bilateral trade agreement with chief negotiators finalising contours and legal text, but signing is deferred until US tariff policy and related measures are clarified. Recent US actions - including a court-affected tariff decision, the imposition of temporary across-the-board levies, and initiation of Section 301 investigations into multiple economies - have affected timing though not the ongoing engagement; Indian officials say the US intends to calibrate tariffs to preserve India's comparative advantage and preferential access under the proposed pact.

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PM Modi says will overcome West Asia crisis like Covid; stresses on dialogue, diplomacy to end conflict

March 23, 2026

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New Delhi, Mar 23 (PTI) Prime Minister Narendra Modi on Monday said the difficult global conditions caused by the West Asia conflict are likely to persist for a long time and called upon the nation to remain prepared and united, just as it had stood together during the COVID-19 pandemic.

In a statement in the Lok Sabha, PM Modi addressed concerns related to the impact on fuel, fertilisers, national security and other areas in India as well on its nationals residing in the West Asia region, detailing steps taken by the government to ensure that "ordinary families face as little trouble as possible", and said a unanimous voice should go out to the world from India's Parliament on this crisis.

Reaffirming India's unwavering commitment to humanity and peace, the prime minister said the dialogue and diplomacy remain the only path to resolution and every Indian effort is directed at de-escalation and the cessation of hostilities.

Informing the House that he has engaged with all relevant West Asian leaders and urged them to reduce tensions and end the conflict, Modi emphasised that attacks on commercial ships and obstruction of international waterways like the Strait of Hormuz, through which 20 per cent of the world's energy is transported, are"wholly unacceptable".

He said endangering any life in this war runs counter to the interests of humanity and "India's effort is to encourage all parties to arrive at a peaceful resolution as soon as possible".

On India's diplomatic response to the West Asia conflict, the Prime Minister said India's stand has been clear from the very beginning, when the US and Israel attacked Iran and the latter retaliated by targeting its Gulf neighbours and Israel, "one of expressing deep concern, advocating de-escalation, and opposing attacks on civilians and on energy and transport infrastructure".

"India, through diplomacy, is making continuous efforts for the safe passage of Indian ships even amidst the war environment. Due to such efforts, several of our ships that were stuck in the Strait of Hormuz have also arrived in India in recent days," he said.

The prime minister also drew the attention of the House to the internal security dimension of the crisis, warning that certain elements attempt to exploit such situations.

He said all security agencies have been placed on alert and that security across all domains, coastal, border, cyber, and strategic installations, is being further strengthened.

"Whether it is coastal security, border security, cyber security, or strategic installations, the security of all is being reinforced," he said.

Urging patience, restraint, and vigilance, and cautioning against those who may seek to exploit the situation by spreading falsehoods, engaging in black-marketing, or hoarding, Modi appealed to all state governments to ensure strict monitoring and swift action against such elements.

Expressing his abiding faith in the collective resolve of the nation, the Prime Minister said that when every government and every citizen of this country walk together, "we can challenge every challenge, this is our identity, and this is our strength".

The prime minister remarked that the difficult global conditions caused by this war are likely to persist for a long time and called upon the nation to remain prepared and united, just as it had stood together during the COVID-19 pandemic.

The prime minister said the crisis has been going on now for more than three weeks and it is having a very adverse impact on the global economy and on people's lives. The entire world is urging all parties for the earliest resolution of this crisis, he said.

This region is important to India for yet another reason, as nearly one crore Indians live and work in the Gulf countries and among the commercial ships that sail in these seas, the number of Indian crew members is also very high, he said.

"India's concerns are naturally greater, and therefore it is essential that a united and unanimous voice goes out to the world from India's Parliament on this crisis," he said.

Modi underscored how the energy diversification strategy pursued over the past decade has proven its worth in the current crisis.

He informed the House that India has expanded its energy import sources from 27 countries to 41 countries over the past 11 years, thereby reducing dependence on any single region.

Emphasising the foresight of this approach, Modi said in today's circumstances, the steps taken over the past decade regarding energy security have become even more relevant.

Modi said India has more than 5.3 million metric tonnes of strategic petroleum reserves, and the country is also working on arrangements for more than 6.5 million metric tonnes of storage.

Apart from this, he said, there are reserves held by the domestic oil companies.

"In the last 11 years, our refining capacity has increased significantly, and the government is in constant touch with suppliers from different countries. The effort is to ensure that oil and gas supplies continue from wherever possible," he said.

Highlighting the scale of the evacuation effort, the Prime Minister said more than 3,75,000 Indians have safely returned to India since the war began, including approximately 1,000 Indians from Iran alone, of whom over 700 are young medical students.

Addressing the broader economic ramifications, Modi acknowledged that energy is the backbone of the modern economy and that West Asia is a major source for global energy needs, making the current crisis a challenge for economies worldwide.

He said the government is working with a comprehensive short-term, medium-term, and long-term strategy, supported by strong economic fundamentals, sector-specific stakeholder consultations, and a dedicated Inter-Ministerial Group that meets daily to assess and resolve every difficulty in India's import-export chain.

"I am fully confident that through the joint efforts of the government and industry, we will be able to face these circumstances effectively," he said.

The prime minister said, unfortunately, several lives were lost and some people were injured during the conflict and their families are being given the necessary help, and treatment of the injured is being ensured.

He said another question is the impact of the war on agriculture, but the good part is that the country's farmers have filled the food grain reserves, so India is well prepared in terms of food security.

"We are also making efforts to ensure that the Kharif sowing takes place properly. For this, the government has made adequate arrangements for fertilisers to deal with any emergency. In the past as well, our government did not let any global crisis impact our farmers," he said.

Modi said that as the summer season has begun in India, electricity demand has increased, but all power plants in the country have adequate coal stock available.

"India has created a record by producing more than 1 billion tonnes of coal for the second consecutive year. In the last decade, the country has also taken major steps towards renewable energy," he said. PTI GJS NAB ACB RT

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