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March 24, 2026
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Zero Coupon Bonds compliance certificate must be filed electronically each tax year by eligible issuers.
Form No. 3 is the prescribed accountant's certificate under rule 7 for certifying utilisation of funds raised through notified Zero Coupon Bonds. It is mandatory for each relevant tax year and applies to every issuer of a notified Zero Coupon Bond, including infrastructure capital companies, infrastructure capital funds, infrastructure debt funds, and public sector companies. The certificate must be filed electronically within two months from the end of the relevant tax year and is year-specific, with revision permitted only if the system enables it.
March 24, 2026
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Zero-coupon bond notification under Rule 7 requires strict filing, investment, rating and listing compliance before tax recognition.
Form 2 is the prescribed application under Rule 7 for infrastructure capital companies, infrastructure capital funds, infrastructure debt funds and public sector companies seeking notification of a proposed zero-coupon bond. Notification is a mandatory pre-condition for the bond to qualify as a zero-coupon bond and to obtain the special tax treatment of discount. The form collects applicant, bond and investment details so the Central Government can verify tenure, credit rating, listing, investment commitments and reporting undertakings.
March 24, 2026
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Turmeric export disruption hits Marathwada trade as conflict halts shipments and weakens domestic prices.
The conflict involving the US, Israel and Iran has disrupted turmeric exports from Maharashtra's Marathwada region, with shipments to Gulf and African markets reported to have stopped completely. The trade interruption has affected turmeric grown across the region's turmeric belts, including Hingoli, Nanded, Wardha, Parbhani, Yavatmal and Washim. The Vasmat variety from Hingoli received a Geographical Indication tag in 2024, and consignments from Hingoli and adjoining areas are shipped abroad after processing through Tamil Nadu and Kerala.
March 24, 2026
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AI-driven cooperative banking summit spotlights digital innovation, cybersecurity, regulatory compliance and sector-wide collaboration in urban cooperative banks.
The Bharat Cooperative Banking Summit & Awards 2026 is a three-day forum for urban cooperative banks focused on AI-driven cooperative banking, digital innovation, cybersecurity, regulatory technology, operational resilience and regulatory compliance. It brings together senior leaders, policymakers, regulators, fintech partners and technology providers for collaboration, knowledge exchange and alignment with evolving digital and regulatory expectations. The awards segment recognises excellence in leadership, innovation, governance, financial inclusion, digital transformation and service within the cooperative movement.
March 24, 2026
Show AI Summary
Zero Coupon Bond notification requires mandatory advance filing of Form No. 2 with prescribed details and supporting documents.
Form No. 2 is the prescribed electronic application under rule 7 of the Income-tax Rules for notification of a Zero Coupon Bond under section 2(112) of the Act. Filing is mandatory before issue, must be made at least three months in advance, and is issue-specific. It is to be filed by an infrastructure capital company, infrastructure capital fund, infrastructure debt fund, or public sector company with the required details and supporting annexures.
March 24, 2026
Show AI Summary
Client code modification reporting requires monthly online filing by stock exchanges for cash and derivative transactions.
A monthly statement is required from stock exchanges reporting modified client code transactions in cash and derivative market transactions. The form must be filed online by all stock exchanges through the income tax e-filing portal, and its smart-form format captures basic exchange details. The format also incorporates commodity derivative details previously associated with Form 3BC, which has been rendered redundant, while no other changes are made to the Cash Market and Derivative Market tables.
March 24, 2026
Show AI Summary
Stock exchange reporting rules require monthly filing of client code modification statements through the e-filing portal.
Form No. 1 is a mandatory monthly statement to be furnished by a stock exchange for transactions in which client codes have been modified after registration in the system. It applies to both cash and derivative markets, must be filed within 15 days from the end of each relevant month, and is submitted only online through the Income Tax e-Filing portal. Once filed and acknowledged, it cannot be edited, and submission requires a valid PAN.
March 24, 2026
Show AI Summary
Tax Year transition and repeal savings preserve continuity while the Income-tax Act, 2025 simplifies compliance and reorganises filings.
The Income-tax Act, 2025 replaces the Income-tax Act, 1961 as a streamlined and modernised code, while preserving the underlying tax policy, continuity of pending matters, and the existing compliance architecture. The new Act substitutes the concept of Assessment Year with Tax Year, applies prospectively from 1 April 2026, and continues the old Act for tax years beginning before that date. Transitional provisions preserve rights, liabilities, pending proceedings, tax payments, return filing, reassessment, appeals, deductions, and losses under the repealed Act, while the new Act reorganises forms, withholding provisions, and compliance statements in simplified and consolidated form.
March 24, 2026
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Anticipatory banking drives India hub expansion for stronger engineering, data, and cloud support across digital banking platforms.
Expansion of a global capability center in India to strengthen engineering, data intelligence and cloud architecture support for a digital sales and service platform used by financial institutions. The India hub is intended to deepen technical capacity for platform development, security, scalability and reliable digital banking delivery, while supporting the company's move toward anticipatory banking through data-driven and AI-enabled capabilities.
March 24, 2026
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Startup incubation and investor access drive Galgotias Investo Pitch 2026 with grants for early-stage ventures.
Galgotias University organised "Galgotias Investo Pitch 2026" to support innovation and entrepreneurship by connecting startups with investors, industry leaders, incubation stakeholders, and government representatives. The event focused on startup scaling, venture capital access, business incubation, mentorship, market entry, and the use of artificial intelligence for scalable and cost-effective business growth. The University also announced an endowment grant for twelve early-stage startups as part of its continued support for the startup ecosystem.
March 24, 2026
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Bancassurance partnership drives digital-first insurance access, streamlined underwriting, and broader financial inclusion across underserved markets.
Strategic bancassurance partnership between Axis Max Life Insurance Limited and YES BANK has been reaffirmed as a long-running distribution alliance focused on digital-first delivery and hyper-personalized protection solutions. The collaboration combines the insurer's protection expertise with the bank's branch network and digital infrastructure to deliver insurance through streamlined customer journeys, including video consultations and agile underwriting, across protection, savings, education planning, retirement planning and wealth creation needs. The partnership is also directed toward expanding insurance access in underserved markets and supporting the objective of "Insurance for All by 2047".
March 24, 2026
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LNG supply disruption and force majeure risk could keep global gas prices elevated for years.
Damage to Qatar's Ras Laffan liquefied natural gas terminal has disrupted a major part of the country's LNG export capacity and may trigger force majeure on long-term supply contracts. The facility is complex, costly to repair, and likely to require a prolonged shutdown and staged restoration because LNG plants must be warmed and cooled slowly. The supply shortfall is likely to keep global LNG prices elevated and may shift some markets toward coal.
March 23, 2026
Show AI Summary
RoDTEP benefits restored for exporters as West Asia crisis raises freight costs and disrupts maritime trade.
Restoration of RoDTEP benefits was announced for eligible export products from February 23, 2026 to March 31, 2026, with the rates and value caps applicable on February 22, 2026 restored in full. The measure responds to the West Asia crisis and the resulting disruption to global trade, including higher freight costs, rising insurance premiums, and maritime logistics challenges affecting export consignments moving to or through the region.
March 23, 2026
Show AI Summary
Conflict of interest framework strengthens disclosure, recusal, and investment restrictions for top market regulator officials.
Sebi approved a conflict of interest and disclosure framework for its top officials, bringing the Chairman and Whole Time Members within the definition of insider and requiring disclosure of assets, liabilities, and immovable property in specified formats. The framework also provides for ethics infrastructure, a digital conflict-management system, a whistleblower mechanism, recusal procedures, and uniform restrictions on investments and trading in equity and equity-related instruments for senior officials.
March 23, 2026
Show AI Summary
CAPF recruitment and promotion law draws opposition objections as discussion time is allotted in the Rajya Sabha.
The Business Advisory Committee of the Rajya Sabha allotted eight hours for discussion on the proposed Central Armed Police Forces (General Administration) Bill, 2026, while the Bill was not taken up in the House on the reported day. The proposed umbrella legislation is intended to regulate the recruitment, deputation and promotion of CAPF officers, and several opposition parties objected to its introduction and sought fuller scrutiny of such legislation.
March 23, 2026
Show AI Summary
Corporate compliance reform proposals expand CSR flexibility, decriminalise procedural defaults, and streamline mergers and governance.
Proposed amendments to the Companies Act and LLP Act seek to promote ease of doing business, reduce compliance burden, and decriminalise procedural defaults by replacing criminal provisions with civil penalties. The bill also proposes streamlined mergers and amalgamations, hybrid-mode meetings, flexibility in share buy-backs, simplified closure and voluntary exit, and easier compliance for small companies, startups, producer companies, and certain LLPs.
March 23, 2026
Show AI Summary
PMLA extradition proceedings advance in Torres jewellery fraud case involving alleged hawala routing and USDT conversion.
Extradition proceedings were initiated under the PMLA against an absconding Ukrainian accused in the Torres jewellery fraud investigation after the Enforcement Directorate approached the special PMLA court for compilation and attestation of papers to prepare a dossier for transmission to foreign authorities. The case concerns allegations that customers were cheated through Platinum Hern Private Limited, operating as Torres Jewellery, by collecting cash in exchange for Moissanite diamonds and other jewellery, with the receipts allegedly routed through hawala operators and converted into USDT cryptocurrency in a money-laundering investigation.
March 23, 2026
Show AI Summary
Money laundering attachment over alleged diversion of club funds through fake accounts and routing of proceeds to properties and deposits.
Provisional attachment under the Prevention of Money Laundering Act covered assets worth about Rs 34.51 crore, including movable and immovable properties and fixed deposits linked to persons connected with the United Services Club matter. The Enforcement Directorate alleged that club funds were diverted through fake bank accounts opened in the names of genuine vendors, then routed to personal and joint accounts of the accused and associates. The alleged proceeds of crime were used to acquire properties, create fixed deposits, and channel funds through a trust to accounts linked to a chartered accountant and related entities.
March 23, 2026
Show AI Summary
Independent directors must support governance concerns with evidence and record unresolved issues to protect minority shareholder interests.
Independent directors must act responsibly when raising concerns about a company's functioning or proposed actions, and any insinuations affecting governance or minority shareholder interests must be supported by proper evidence. Such concerns should be taken up with the board and, if unresolved, recorded in the minutes of the board meeting. Independent directors may question the company in board-level forums, but they cannot make vague or unsubstantiated allegations and must ensure that minority shareholder interests are protected.
March 23, 2026
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Fiscal discipline and GST compliance in Gujarat are highlighted through surplus targets, controlled debt, higher capital spending and rising tax collections.
Gujarat's fiscal management is said to be maintained under the Gujarat Fiscal Responsibility Act, 2005, with an aim to ensure fiscal stability, accountability and a revenue surplus. The state reportedly remains within prescribed ceilings for fiscal deficit and debt, has not defaulted on debt repayment, and has not taken an overdraft or advance for many years. The discussion also highlights increased capital expenditure, concerns over non-developmental spending and debt burden, and growth in GST taxpayers, return filing compliance and tax revenue.

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PM Modi calls for unity among people to face global crises, tells parties to avoid divisive politics

March 28, 2026

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Noida, Mar 28 (PTI) Prime Minister Narendra Modi on Saturday urged citizens to work with dedication and unity to tackle global challenges and achieve 'Viksit Bharat', while cautioning political parties against making statements that could harm national interests amid the West Asia conflict.

The Prime Minister on Saturday inaugurated the Noida International Airport and in his address said it was essential for India's 1.4 billion people to work hard and face global crises collectively, while stressing that the government prioritises securing India's interests and safeguarding "families and farmers".

Modi, who laid the foundation stone for the greenfield airport in November 2021, emphasised that the government was focused on enhancing citizens' convenience by saving time and reducing costs.

Referring to the ongoing conflict in West Asia, he said he had discussed the situation in detail in Parliament and also held extensive and "very positive" deliberations with the chief ministers of various states.

"I once again appeal to the people of the country that we must face this crisis calmly, with patience and unity. This is a global crisis, but we must prioritise India's interests. That is our greatest strength," he said.

The Prime Minister urged political parties to refrain from making "irresponsible" statements during such times.

"Those who make remarks that harm the country may gain some points in political debates, but such actions will never be forgiven by the people," he said, recalling how voters rejected misinformation campaigns during the COVID-19 pandemic.

The remarks come against the backdrop of political controversies during the COVID-19 pandemic, when Samajwadi Party chief Akhilesh Yadav had publicly expressed reluctance to take a COVID-19 vaccine, triggering a political debate over vaccine hesitancy.

The controversy was a talking point in the run-up to the 2022 UP Assembly elections, in which the Samajwadi Party was defeated, and the BJP retained power.

Modi said that India is confronting the challenges arising from the ongoing conflict in West Asia with full strength.

Highlighting that India depends on crude oil and gas from conflict-affected regions, Modi said the government is taking necessary steps to ensure the burden does not fall on families and farmers.

Modi also inaugurated on Saturday the cargo terminal at the airport and laid the foundation stone for a Maintenance, Repair and Overhaul (MRO) facility to be developed over 40 acres.

"Today marks the beginning of a new chapter in the journey towards a Viksit UP and a Viksit Bharat," he said.

He said Jewar Airport would boost economic activity in the region. "Noida International Airport will create new opportunities for farmers, small traders and youngsters of western UP," he said.

Modi said UP is now among the states with the highest number of international airports and noted that the state which elected him as a Member of Parliament is now identified as a grand aviation hub.

"From here, flights will not only connect to different parts of the world, but will also symbolise the new flight of a Viksit UP. Jewar Airport will connect the entire North India with the world," he said, adding that "the airport is being developed as a state-of-the-art facility with the capacity to handle one aircraft movement every two minutes.

Modi was accompanied by Chief Minister Yogi Adityanath, Civil Aviation Minister Kinjarapu Ram Mohan Naidu and other dignitaries.

Hitting out at the main opposition party in the state, Modi said the Samajwadi Party had turned Noida into an "ATM for loot", but under BJP, it is now emerging as a powerful engine of development.

He added that Noida, once neglected by earlier governments, is now ready to welcome the world, reflecting the spirit of a self-reliant India.

Highlighting the government's aviation policy, Modi said, "We launched the UDAN scheme to ensure that air travel remains within the reach of ordinary families. In the past few years, more than 1.6 crore people have travelled at affordable fares under this scheme." UDAN scheme has recently been expanded with an approved outlay of around Rs 29,000 crore, with plans to develop new airports in smaller cities and build around 200 helipads in the coming years.

Modi said Jewar Airport would benefit a wide region covering Agra, Mathura, Aligarh, Ghaziabad, Meerut, Etawah, Bulandshahr and Faridabad.

Expressing pride, he said UP now ranks among the states with the highest number of international airports.

Modi said the Jewar area is emerging as a logistics hub with the convergence of dedicated freight corridors at Dadri, enabling faster movement of goods to ports in Bengal and Gujarat.

He recalled that the airport project was first approved in 2003 during the tenure of former PM Atal Bihari Vajpayee, adding that improved connectivity would enhance food processing and agricultural exports from western UP.

Modi expressed gratitude to sugarcane farmers, saying ethanol produced from their crop has helped reduce India's dependence on crude oil imports.

He said that without increased ethanol production and its blending with petrol, the country would have had to import an additional 4.5 crore barrels of crude oil annually.

He noted that the initiative has helped save about Rs 1.5 lakh crore in foreign exchange.

Modi said India's aviation sector is growing rapidly, leading to increased demand for aircraft. "These new aircraft and services will require a large workforce for operations, servicing and maintenance. This presents a huge opportunity for the youth," he said.

The PM highlighted the lack of adequate MRO facilities in India in the past, noting that nearly 85 per cent of aircraft had to go abroad for servicing.

"Our government has resolved to make India self-reliant in the MRO sector. Large-scale facilities are now being developed in the country, and an MRO facility has also been launched at Jewar," he said.

Modern transport systems like Metro and Vande Bharat trains are being expanded, Modi said, adding that the Delhi-Meerut Namo Bharat train has already benefited more than 2.5 crore passengers, reducing travel time from hours to minutes.

The Prime Minister said the government has made unprecedented investments in the sector over the past 11 years. "The infrastructure budget has increased more than six-fold. About Rs 17 lakh crore has been spent on highways and expressways, and over 1 lakh kilometres of highways have been constructed," he said.

The first phase of the airport, developed at an estimated cost of Rs 11,200 crore, is envisioned as a multi-modal transport hub.

The project includes a cargo hub with an initial handling capacity of over 2.5 lakh metric tonnes annually, expandable to around 18 lakh metric tonnes. The airport's initial passenger handling capacity will be 12 million passengers per annum, scalable up to 70 million.

Meanwhile, the airport's nodal officer Shailendra Bhatia told PTI that shortly after the event concluded, a state government aircraft made the first landing on the newly built runway, while Chief Minister Adityanath departed on the same aircraft, marking the first takeoff after inauguration.

Officials said regular commercial flight operations are yet to be announced and are expected to begin after the airport security plan receives approval, likely next month. The airport was initially scheduled to commence passenger services from September 2024. PTI CDN KIS DRR MR

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