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Strike rate 331.58! Vaibhav Sooryavanshi’s 19-ball 63 sends IPL 2026 warning | Cricket News


Strike rate 331.58! Vaibhav Sooryavanshi's 19-ball 63 sends IPL 2026 warning
Vaibhav Sooryavanshi (ICC Photo)

NEW DELHI: Strike rate 331.58. Seven fours. Five sixes. That is not just a stat line — it is a statement. And it had the unmistakable stamp of Vaibhav Sooryavanshi all over it. The young India star once again lived up to his reputation of taking bowlers apart from the very first ball, hammering a breathtaking 19-ball 63 for DY Patil Blue against Indian Navy in the ongoing DY Patil T20 Cup. With IPL 2026 just over a month away, the timing of this assault could not have been more ominous.

T20 World Cup: Ryan Burl press conference before India vs Zimbabwe

Chasing 220, Vaibhav wasted no time settling in. Sixteen runs came off the first four deliveries he faced. By the end of just 12 balls, he was already on 43 — bowlers scrambling, fielders scattered, and the tempo of the game firmly hijacked.His half-century arrived in the fifth over — a six followed by a four — in just 14 deliveries. He added another towering maximum before walking back for 63 off 19 balls, striking at a staggering 331.58.For those who have followed his rise, this is hardly surprising.Vaibhav first shook the IPL in 2025 when he blasted a 35-ball hundred against Gujarat Titans, becoming the youngest centurion in the league’s history and the fastest Indian to a century in the tournament. That innings announced the arrival of a new-age aggressor — fearless, unapologetic, and relentlessly attacking.His dominance continued in the Under-19 circuit. In 25 Youth ODIs, he piled up 1,412 runs at an average of 56.48 and a remarkable strike rate of 165.72. Four centuries and seven fifties followed, including a stunning 175 off just 80 balls in the U19 World Cup final — an innings that sealed India’s triumph.Even off the field, Vaibhav has done things differently. He made headlines for skipping his Class X board exams to prioritise cricket — a decision that now seems vindicated by the numbers.In 18 T20s so far, he has amassed 701 runs at a strike rate of 204.37, crossing 150 in 12 innings — a testament to his consistency in high-tempo cricket.At the DY Patil T20 Cup, he simply carried that momentum forward.While Kuwar Pathak’s 87 and Nitin Tanwar’s unbeaten 57 powered Indian Navy to 220, the spotlight inevitably swung back to Vaibhav. Yash Dhull (12 off 8), Sarfaraz Khan (27 off 19), Shashank Singh (20 off 12), Anand Bais (35* off 24) and Arjun Tendulkar (55* off 29) all chipped in — but it was Vaibhav’s blitz that set the tone.And if this was meant to be a warm-up ahead of IPL 2026, bowlers across franchises would be watching closely.Also See: IND vs ZIM Live Score



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Maharashtra government owes Mumbai civic body Rs 10,931 crore, says deputy chief minister Eknath Shinde | Mumbai News


Mumbai: The Maharashtra government owes Rs 10,931 crore to the Brihanmumbai Municipal Corporation (BMC), deputy chief minister Eknath Shinde informed the legislative assembly on Thursday.In a written reply, Shinde, who holds the urban development portfolio, said that as of December 31, 2025, various state departments collectively owed this sum to the Mumbai civic body.The municipal commissioner had written to the concerned departments on December 9, 2025, requesting them to clear the outstanding amounts, and the corporation is following up with these departments for the recovery of the dues, Shinde added.The BMC on Wednesday presented a budget of Rs 80,952 crore for the financial year 2026-27.



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New challenge: ‘Make in India’ gets a pushback from US, China


New challenge: ‘Make in India’ gets a pushback from US, China
PM Modi’s push to transform India into a major global manufacturing hub faces a challenge from the US and China. (AI image)

PM Narendra Modi’s push for ‘Make in India’ is facing resistance and criticism from US and China – the two largest world economies. India is currently the world’s fifth largest economy, on its way to become the third largest in the coming years.Prime Minister Narendra Modi’s push to transform India into a major global manufacturing hub faces a challenge from the US and China – both the countries have argued that India’s subsidy policies violate international trade rules.

‘UPI Will Be Used In Israel’: PM Modi After Key Meet With Netanyahu, Pushes India-Israel FTA

US, China Challenge ‘Make in India’ push

Central to the disputes is India’s production-linked incentive programme, launched by the Modi government in 2020 with the aim of strengthening domestic manufacturing. Covering 14 industries ranging from electronics and pharmaceuticals to solar equipment and medical devices, the scheme involves a total allocation of ₹1.91 trillion ($21 billion).According to a Bloomberg report, trading partners maintain that these incentives give domestic companies an edge over foreign competitors. In the solar industry, firms such as Waaree Energies Ltd., Adani Enterprises Ltd., and Reliance Industries Ltd. have gained from government backing through production-linked incentives as well as a range of non-tariff measures.

India’s Solar Production Jumps After Government Support

India’s Solar Production Jumps After Government Support

On Wednesday, the United States announced preliminary tariffs of 126% on solar equipment imported from India after concluding that the industry had received unfair government support. Analysts believe these steep duties will likely make it difficult for Indian solar manufacturers to compete in the US market.The development followed a decision by the World Trade Organization’s dispute settlement body to form a panel to review China’s complaint that India’s incentive schemes for the automotive and renewable energy sectors favor domestically produced goods over imports, placing Chinese exporters at a disadvantage. The panel was constituted after initial consultations between the two sides – the first stage of the WTO dispute mechanism – did not resolve Beijing’s objections to India’s industry-specific subsidies.Officials told Bloomberg that the government intends to firmly defend its incentive schemes and maintains that they are consistent with WTO regulations.These initiatives play a key role in India’s strategy to increase manufacturing’s contribution to gross domestic product to roughly 25%, but rising objections from major trading partners could present challenges for policymakers. At present, the manufacturing sector accounts for about 17% of the economy.“Without schemes like PLI, revival of manufacturing looks difficult,” said Biswajit Dhar, a New Delhi-based independent trade economist and former professor at Jawaharlal Nehru University. At the same time, India needs to explore alternative ways to support industries, such as investing more in technology and innovation, he added.The criticism comes at a time when India is attempting to stabilize its relationships with both the United States and China. New Delhi and Washington have only recently reached an agreement that brought an end to months of trade tensions, during which India faced some of the steepest US tariffs imposed on Asian economies. At the same time, India has been working to improve ties with Beijing.

US, China Themselves Under Scrutiny

The United States and China have themselves come under examination for their respective subsidy policies. In 2024, Beijing challenged aspects of the US Inflation Reduction Act of 2022, arguing that certain subsidies were tied to the use of domestically produced inputs or unfairly disadvantaged Chinese goods. Separately, European nations have accused China of relying on large-scale subsidies to accelerate the growth of its electric vehicle and solar manufacturing industries.



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New challenge: ‘Make in India’ gets a pushback from US, China


New challenge: ‘Make in India’ gets a pushback from US, China
PM Modi’s push to transform India into a major global manufacturing hub faces a challenge from the US and China. (AI image)

PM Narendra Modi’s push for ‘Make in India’ is facing resistance and criticism from US and China – the two largest world economies. India is currently the world’s fifth largest economy, on its way to become the third largest in the coming years.Prime Minister Narendra Modi’s push to transform India into a major global manufacturing hub faces a challenge from the US and China – both the countries have argued that India’s subsidy policies violate international trade rules.

‘UPI Will Be Used In Israel’: PM Modi After Key Meet With Netanyahu, Pushes India-Israel FTA

US, China Challenge ‘Make in India’ push

Central to the disputes is India’s production-linked incentive programme, launched by the Modi government in 2020 with the aim of strengthening domestic manufacturing. Covering 14 industries ranging from electronics and pharmaceuticals to solar equipment and medical devices, the scheme involves a total allocation of ₹1.91 trillion ($21 billion).According to a Bloomberg report, trading partners maintain that these incentives give domestic companies an edge over foreign competitors. In the solar industry, firms such as Waaree Energies Ltd., Adani Enterprises Ltd., and Reliance Industries Ltd. have gained from government backing through production-linked incentives as well as a range of non-tariff measures.

India’s Solar Production Jumps After Government Support

India’s Solar Production Jumps After Government Support

On Wednesday, the United States announced preliminary tariffs of 126% on solar equipment imported from India after concluding that the industry had received unfair government support. Analysts believe these steep duties will likely make it difficult for Indian solar manufacturers to compete in the US market.The development followed a decision by the World Trade Organization’s dispute settlement body to form a panel to review China’s complaint that India’s incentive schemes for the automotive and renewable energy sectors favor domestically produced goods over imports, placing Chinese exporters at a disadvantage. The panel was constituted after initial consultations between the two sides – the first stage of the WTO dispute mechanism – did not resolve Beijing’s objections to India’s industry-specific subsidies.Officials told Bloomberg that the government intends to firmly defend its incentive schemes and maintains that they are consistent with WTO regulations.These initiatives play a key role in India’s strategy to increase manufacturing’s contribution to gross domestic product to roughly 25%, but rising objections from major trading partners could present challenges for policymakers. At present, the manufacturing sector accounts for about 17% of the economy.“Without schemes like PLI, revival of manufacturing looks difficult,” said Biswajit Dhar, a New Delhi-based independent trade economist and former professor at Jawaharlal Nehru University. At the same time, India needs to explore alternative ways to support industries, such as investing more in technology and innovation, he added.The criticism comes at a time when India is attempting to stabilize its relationships with both the United States and China. New Delhi and Washington have only recently reached an agreement that brought an end to months of trade tensions, during which India faced some of the steepest US tariffs imposed on Asian economies. At the same time, India has been working to improve ties with Beijing.

US, China Themselves Under Scrutiny

The United States and China have themselves come under examination for their respective subsidy policies. In 2024, Beijing challenged aspects of the US Inflation Reduction Act of 2022, arguing that certain subsidies were tied to the use of domestically produced inputs or unfairly disadvantaged Chinese goods. Separately, European nations have accused China of relying on large-scale subsidies to accelerate the growth of its electric vehicle and solar manufacturing industries.



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India Israel Free Trade Agreement: India, Israel to resume FTA talks in May as both sides push for deeper trade ties


'UPI Will Be Used In Israel': PM Modi After Key Meet With Netanyahu, Pushes India-Israel FTA

File photo: PM Modi with Israeli PM Benjamin Netanyahu

India and Israel will meet again in May 2026 to continue negotiations on their proposed free trade agreement (FTA), the commerce ministry said on Thursday. The next round of in-person discussions will take place in Israel.

‘UPI Will Be Used In Israel’: PM Modi After Key Meet With Netanyahu, Pushes India-Israel FTA

The announcement came after the two sides wrapped up the first round of four-day talks in New Delhi. Officials described the discussions as wide-ranging, covering several crucial trade areas.“Both sides also agreed to continue inter-sessional engagements virtually. The next round of in-person negotiations will be held in May 2026 in Israel,” the ministry said.

Wide-ranging agenda on trade and investment

The negotiations are covering trade in goods and services, rules of origin, sanitary and phyto-sanitary measures, technical barriers to trade, customs procedures, intellectual property rights and digital trade, among other key chapters, according to news agency PTI.In November last year, the two countries signed the terms of reference (ToR) to formally launch the negotiations. The ToR include provisions for market access for goods through the removal of tariff and non-tariff barriers, investment facilitation, simplified customs procedures, enhanced cooperation in innovation and technology transfer, and easing of norms to boost trade in services.Under an FTA, countries typically reduce or eliminate import duties on most traded goods and relax regulations to encourage services trade and investments.India’s chief negotiator is Ajay Bhadoo, additional secretary in the department of commerce, while Israel’s side is led by Yifat Alon Perel, senior director for trade policy and agreements.

Push from top leadership

The talks have gained political backing at the highest level. During his recent state visit to Israel, Prime Minister Narendra Modi addressed a special plenary of the Knesset in Jerusalem on Wednesday and called for the early conclusion of an ambitious FTA to unlock untapped trade potential between the two nations.Both countries have identified significant opportunities in sectors such as machinery, chemicals, textiles, agriculture, medical devices and advanced technologies.

Trade figures show decline

Despite strong diplomatic ties, recent trade data shows a notable dip. During 2024-25, India’s exports to Israel fell 52 per cent to $2.14 billion, down from $4.52 billion in 2023-24, according to PTI.Imports also declined by 26.2 per cent to $1.48 billion in the last fiscal year.Total bilateral trade stood at $3.62 billion.India is Israel’s second-largest trading partner in Asia. Although merchandise trade is still dominated by diamonds, petroleum products and chemicals, recent years have seen growing exchanges in electronic machinery, high-tech products, communication systems and medical equipment.India’s key exports include pearls and precious stones, automotive diesel, chemicals and mineral products, machinery and electrical equipment, plastics, textiles and apparel, base metals, transport equipment and agricultural products.On the import side, India buys pearls and precious stones, chemical and mineral or fertiliser products, machinery and electrical equipment, petroleum oils, defence equipment and transport machinery.

Talks resume after earlier pause

This is not the first attempt to seal a trade pact. India and Israel had earlier held eight rounds of negotiations, with the last meeting taking place in October 2021. However, the talks stalled thereafter. The current round marks a renewed effort to conclude the agreement.In September last year, the two sides also signed a Bilateral Investment Agreement (BIA). Under this pact, India reduced the local remedies exhaustion period for Israeli investors to three years from five years. Between April 2000 and June 2025, India received $337.77 million in foreign direct investment from Israel.Israel, a high-income and technology-driven economy with a population of under 10 million, is seen as a strategic partner for India in innovation and advanced manufacturing. Officials on both sides believe that a well-structured FTA could significantly strengthen trade and investment flows in the coming years.



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Tech startup CEO on LinkedIn: I am being forced to leave Sweden at a time my product is being celebrated and I do not have … |


Tech startup CEO Abhijith Nag Balasubramanya, founder of Hydro Space Sweden AB, announced that he is stepping down and leaving Sweden. Balasubramanya made the announcement in a long and scathing LinkedIn post citing what he called a ‘Xenophobia and hostile’ immigration system. He said that he was forced to sell his agri-tech startup which is locally celebrated for its microgreens harvest after the Swedish Migration Agency (Migrationsverket) denied his residency, despite the company’s rapid growth and local impact.“This isn’t an exit by choice. It is an eviction by an incompetent and increasingly hostile state apparatus,” he wrote, adding that the agency’s handling of his case was marked by “gross incompetence,” “procedural cowardice,” and “systemic hostility.”Balasubramanya also accused the officers of ignoring his emails, refusing guidance, and shifting reasons for rejection, calling the experience a “masterclass in dysfunction.” His startup Hydro Space Sweden AB gained a lot of traction in Skellefteå, with its produce welcomed by local retailers like ICA Kvantum. Yet, Balasubramanya said the agency’s actions undermined not only his livelihood but Sweden’s food security ambitions.

Read Abhijith Nag Balasubramanya’s complete LinkedIn post here

Sweden: Where Innovation Goes to Die in BureaucracyToday, I am officially stepping down as Founder and CEO of Hydro Space Sweden AB. I have sold the company as I am being forced to leave the country by the end of this month.This isn’t an exit by choice. It is an eviction by an incompetent and increasingly hostile state apparatus. While our first harvest was being celebrated at ICA Kvantum and welcomed by the people of Skellefteå, Migrationsverket was busy dismantling my life. My experience with the Swedish Migration Agency wasn’t just a bureaucratic hurdle; it was a masterclass in systemic dysfunction and unprofessionalism.To potential investors and international founders: Consider this a final warning. The reality of the Swedish “startup-friendly” image is a facade. Behind it lies a Migration Agency characterized by:Gross Incompetence: I was handled by case officers with zero business acumen, incapable of understanding the financial structures or operational realities of a scaling startup.Procedural Cowardice: My officer ignored repeated emails and explicitly refused to provide guidance on required documentation—only to mock my situation when the decision was finalized.A “Moving Goalpost” Strategy: The agency cited one reason for rejection in preliminary correspondence, only to switch to an entirely different, contradictory reason in the final decree. This isn’t oversight; it’s bad faith.Systemic Hostility: The current political climate has empowered a culture within these offices that treats international talent with open contempt rather than as a value-add to the economy.I built a fully operational company within 6 months that provided local jobs and fresh produce that aids towards making the North of Sweden food secure. In return, I was met with a lack of transparency and a total absence of human decency from Migrationsverket.I do not have the energy—or the desire—to spend my capital fighting a legal battle against a system that is fundamentally broken and seemingly xenophobic.Instead, I have decided to take a break and move back to my home country to work on my mental health that was destroyed by the Swedish migration agency. The Swedish migration agency might have destroyed my life and my dream company but my entrepreneurial passion towards sustainability will never fade. I will come back strong and use my expertise at a place it is valued. To the incompetent and arrogant case officer who took pride in destroying my livelihood: You haven’t just failed me; you are failing Sweden’s future to be food secure. To my customers in Skellefteå and the partners who supported us: thank you. I am proud of what we grew, even if I wasn’t allowed to stay to see it flourish. Wishing the new owners great success!



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SA vs WI: Jason Holder and Romario Shepherd rewrite record books vs South Africa in T20 World Cup Super 8 match



The cricketing world descended upon Ahmedabad on Thursday, for a high-stakes T20 World Cup Super 8 encounter between the West Indies and South Africa. In what was the 47th match of the tournament, the Group 1 showdown at the Narendra Modi Stadium delivered a masterclass in resilience. While the Proteas’ pace attack initially threatened to blow the Caribbean side away, a historic lower-order fightback ensured the West Indies posted a competitive total in this crucial night fixture.

Jason Holder and Romario Shepherd script historic stand against South Africa

The highlight of the first innings was an extraordinary, record-breaking partnership between Jason Holder and Romario Shepherd. When Matthew Forde fell in the 11th over, the West Indies were reeling at a disastrous 83/7. With the top order back in the dugout, South Africa looked poised to wrap up the innings well under the 120-run mark.

However, Holder and Shepherd had other plans. The duo stitched together a monumental 89-run partnership for the eighth wicket, the highest ever recorded in the history of T20 Internationals. Their clinical assault eclipsed the previous record of 80 runs held by Scotland’s PL Mommsen and SM Sharif against the Netherlands in 2015.

Partners Runs Team Opposition Match Date
JO Holder & R Shepherd 89 West Indies South Africa Feb 26, 2026
PL Mommsen & SM Sharif 80 Scotland Netherlands Jul 11, 2015
R Sharma & Amjad Mahboob 75 Singapore Cambodia May 4, 2023
C Madande & WP Masakadza 75 Zimbabwe Bangladesh May 3, 2024

Shepherd was the aggressor, finishing unbeaten on 52 off 37 balls, decorated with three boundaries and four towering sixes. Holder provided the stability and veteran experience, contributing a vital 49 off 31 balls before being tragically run out on the second-to-last ball of the innings.

Also WATCH: Keshav Maharaj plucks a screamer to remove Shimron Hetmyer during T20 World Cup 2026 Super 8 encounter

Aiden Markram and Lungi Ngidi masterclass propels South Africa to dominant victory over West Indies 

South Africa moved to the brink of a T20 World Cup 2026 semifinal berth on February 26, 2026, after crushing the West Indies by nine wickets in a dominant Super 8 display at the Narendra Modi Stadium. Chasing a target of 177, the Proteas made a mockery of the pursuit by reaching the mark in just 16.1 overs, fueled by a relentless opening assault.

Captain Aiden Markram delivered a definitive ‘Player of the Match’ performance, hammering an unbeaten 82 off just 46 balls, while Quinton de Kock set the tone early with a blistering 47 off 24 deliveries. The foundation for this victory was laid by the South African bowlers, specifically Lungi Ngidi and Kagiso Rabada, who tore through the West Indian top order to leave them reeling at 52/4 by the end of the Powerplay.

Ngidi was the chief destroyer with figures of 3/30, while Rabada’s 2/22 ensured heavyweights like Shai Hope and Shimron Hetmyer were back in the dugout early. Even though a lower-order recovery allowed the West Indies to post a competitive 176/8, the psychological advantage was swiftly extinguished as Markram and Ryan Rickelton (45*) shared an unbeaten 82-run stand to seal the win with 23 balls to spare.

This clinical victory ensures South Africa remains the only unbeaten team in the tournament and provides a massive boost to India’s qualification hopes by severely denting the West Indies’ Net Run Rate. For the Caribbean side, the loss is a significant reality check, leaving them in a high-pressure situation for their final group matches. The Proteas now sit comfortably at the top of Group 1 with four points, essentially securing their spot among the world’s top four teams.
Also WATCH: Maheesh Theekshana redeems earlier lapse with a breathtaking catch to remove Finn Allen during SL vs NZ Super 8 clash



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Recovery rate of Maharashtra Rera dues from builders only 34%, says minister, directs property attachment proceedings | Mumbai News


Mumbai: Admitting that the state’s recovery rate of penalties imposed by the Maharashtra Real Estate Regulatory Authority (RERA) from builders was only 34%, state excise minister Shambhuraje Desai directed district officials to collate information to begin property attachment proceedings against defaulters, even if they were based in other districts.Speaking in the state assembly on Thursday, Desai said that of the pending RERA penalties from builders worth Rs 792 crore in the state, the govt recovered Rs 279 crore. Another Rs 103 crore was pending in the NCLT, and pending dues amounted to Rs 430.6 crore.Desai said the state govt would undertake a special drive to recover the dues, and the urban development department should undertake regular reviews from collectors and divisional commissioners regarding the extent of recovery.The issue was raised in the state assembly by BJP MLA Atul Bhatkalkar, who said after RERA orders, it was taking a long time for the state to recover the dues. “The RERA law has been made ineffective. Has it become an extension counter for builders?” asked Bhatkalkar.He said that in 1 case that he personally followed, it took 317 days for RERA to deliver an order, and after the builder failed to pay the penalty, it took 3 months to get an order from the adjudicating authority. “If this is the case of someone whose case is being tracked by their local MLA, then what will be the state of the common man?” he asked.



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DNPA Conclave 2026: Digital news leaders emphasize trust, credibility, and content in the new era of journalism | India News


DNPA Conclave 2026: Digital news leaders emphasize trust, credibility, and content in the new era of journalism

The Digital News Publishers Association (DNPA) Conclave 2026 took place in New Delhi on Thursday, bringing together India’s foremost digital media leaders. The event focused on the dynamic evolution of news, governance, and digital innovation, centered around the theme: “The New World Order of News: Rewriting the Playbook for a Resilient Digital Future.During the DNPA Conclave 2026, the panel “From Creation to Compensation: Content Economics”, moderated by Prasad Sanyal, Group Business Head at TimesofIndia.com, Indiatimes.com, and Whatshot, delved into the intricacies of content economics. The discussion explored building trust, monetization strategies, and the importance of a digital-first approach in today’s evolving media ecosystem.Speaking at the Conclave, Nandini Bhalla, Editor-in-Chief of The Word Magazine and former editor of Harper’s Bazaar, Cosmopolitan, Brides Today, and Grazia, highlighted the enduring value of print principles in digital journalism: “The Word is digital with a heart of print. All those values that print stands for—trust, research, journalism—we bring them into the digital world where our audience sits. Digital is where all of the action is, but content will always be king, whether it’s on paper or on your phones.Malini Agarwal, Founder of MissMalini and Co-founder of IF, emphasized the role of authenticity and reliability in digital content: “Anyone can create content. But who do you trust? Whose content do you trust is where the real value lies. Print still has that strength of authenticity, and digital has the pace. The ones that survive will be truthful.”Dhruv Chitgopekar, Co-founder & Partner, Collective Artists Network, added, “Trust is no longer a nice-to-have. Consistency, authenticity, and depth in your content are critical. Digital magnifies the need to be yourself, to be credible, and to invest in your subject expertise.”DNPA Conclave 2026 served as a key platform where policymakers, media leaders, and industry experts came together to discuss the evolving world of news, governance, and digital innovation. Through curated panel discussions and expert-led sessions, the conclave will highlight emerging trends, shared challenges, and the future roadmap for India’s digital media landscape. As the Indian digital news ecosystem faces unprecedented disruption, the conclave underscored that the future of content is defined not just by speed, but by credibility, innovation, and strategic value.The DNPA is a premier Indian industry body representing leading digital media organisations across the country. It is committed to strengthening credible journalism, upholding ethical standards, and enabling sustainable growth in the digital news ecosystem.



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Sebi Gold And Silver Valuation Norms: Sebi revises valuation norms for gold, silver held by mutual funds; polled spot prices to be used from April 2026


Sebi revises valuation norms for gold, silver held by mutual funds; polled spot prices to be used from April 2026

Capital markets regulator Securities and Exchange Board of India (Sebi) on Thursday revised the valuation methodology for physical gold and silver held by mutual fund schemes, mandating the use of polled spot prices published by recognised stock exchanges for determining their value.The new framework will come into effect from April 1, 2026.“It has been decided that with effect from April 01, 2026… the mutual funds shall value physical gold and silver by using the polled spot prices published by the recognised stock exchanges which are used for settlement of physically delivered gold and silver derivatives contracts,” Sebi said in its circular.

Shift from LBMA benchmark to domestic spot prices

Currently, gold and silver exchange traded funds (ETFs) value their holdings based on the AM fixing prices of the London Bullion Market Association (LBMA). These prices are then adjusted for currency conversion, transportation costs, customs duty, taxes and other levies to arrive at domestic valuations.Under the revised norms, the spot prices used for settlement of physically delivered bullion derivatives contracts on Indian stock exchanges will form the basis for pricing such holdings, replacing the earlier benchmark-linked approach, reported news agency PTI.The move, aligned with the Sebi (Mutual Funds) Regulations, 2026, aims to ensure that valuations better reflect domestic market conditions while promoting uniformity and transparency across mutual fund schemes.The Association of Mutual Funds in India (Amfi), in consultation with Sebi, will prescribe a uniform policy for implementation of the revised valuation methodology.

Part of broader mutual fund reforms

The revision comes alongside Sebi’s broader overhaul of the mutual fund framework.In a separate circular issued on Thursday, the regulator introduced a revamped classification structure for mutual fund schemes, dividing them into five broad categories — equity, debt, hybrid, life cycle and other schemes, along with Fund of Funds (FoFs) and passive schemes such as Index Funds or ETFs.“For easy identification by investors, in order to bring uniformity in names of schemes for a particular category across mutual funds and to ensure that schemes remain ‘true to-label’, the scheme name shall be the same as the scheme category,” Sebi said.It also directed that “words/ phrases that highlight/ emphasize only the return aspect of the scheme shall not be used in the name of the scheme.”The regulator has discontinued the Solution Oriented Schemes category with immediate effect. Existing schemes under this category will stop accepting fresh subscriptions and merge with similar schemes, subject to prior Sebi approval.Additionally, Sebi introduced Life Cycle Funds as open-ended schemes with pre-determined maturity and a glide path strategy for goal-based investing. These funds will progressively reduce equity exposure and increase debt allocation as they approach maturity.Sebi has also tightened portfolio overlap disclosures, mandating mutual funds to publish category-wise overlap levels every month on their websites, calculated at the ISIN level.All existing schemes will have to comply with the revised framework within six months of the issuance of the circular.With the new valuation norms for gold and silver and the wider restructuring of scheme categories, Sebi aims to enhance transparency, standardisation and investor protection in the mutual fund industry.



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