Breaking News
Currency guardrails: RBI tightens forex derivatives rules for banks amid rupee volatility


Currency guardrails: RBI tightens forex derivatives rules for banks amid rupee volatility

The Reserve Bank of India on Wednesday announced fresh restrictions on authorised dealers (ADs) in the foreign exchange market following a “review of evolving market conditions”, as the rupee remains under pressure, according to PTI.In a late-evening notification, the central bank said ADs — banks authorised to deal in foreign exchange — will not be allowed to offer non-deliverable derivative contracts involving the Indian rupee to resident or non-resident users with immediate effect.However, banks can continue to offer deliverable foreign exchange derivative contracts to users for hedging purposes, provided users do not take offsetting non-deliverable derivative positions.The RBI also barred rebooking of derivative contracts after cancellation.“The ADs should not permit a user to rebook any foreign exchange derivative contract, whether deliverable or non-deliverable, which is cancelled after the date of issuance of these instructions,” the notification said.Banks have been asked to seek necessary documents or information from users to ensure compliance with the new rules.Further tightening norms, the RBI said ADs should not undertake any foreign exchange derivative contract with their related parties, clarifying that the definition of related parties will follow accounting standards such as Ind AS 24 or IAS 24.The measures come after the rupee breached the key Rs 95 per US dollar mark in intra-day trade earlier this week, highlighting rising volatility in the currency market.Over the weekend, the RBI had also capped net open positions of ADs in the rupee at USD 100 million, effective April 10, a move that briefly supported the currency in early trade before it pared gains.The forex market is set to reopen on Thursday after a two-day break.



Source link

Tax reform rollout: New Income Tax Act 2025 comes into force, CBDT calls it a shift towards simpler compliance


Tax reform rollout: New Income Tax Act 2025 comes into force, CBDT calls it a shift towards simpler compliance

The Income Tax Act, 2025 came into force from April 1, marking a major overhaul of India’s tax framework, with the Central Board of Direct Taxes (CBDT) describing it as a step towards simplified compliance and a “new chapter” in tax administration, according to PTI.The new law replaces the six-decade-old Income Tax Act, 1961, and significantly reduces the volume of legislation while retaining the underlying tax policy.“It marks a shift towards greater clarity and ease of compliance through simple language, a streamlined structure and a reader-friendly presentation, without altering the underlying tax policy,” the CBDT said in a statement.“With its coming into force from April 1, 2026, the Income-Tax Act 2025 marks a new chapter in India’s tax administration and an important step towards Viksit Bharat,” it added.The new framework introduces a single “tax year” system, eliminating the earlier distinction between assessment year and previous year, aimed at simplifying tax timelines.It also allows taxpayers to claim TDS refunds even if income tax returns are filed after the deadline, without any penal charges.The Income Tax Department said its e-filing portal will support compliance under both the old and new laws during the transition phase. Assessments, appeals and other proceedings related to earlier years will continue under the old Act until completion.Taxpayers filing returns for assessment year 2026-27 in July 2026 will continue to use forms under the old Act, while advance tax payments for the tax year 2026-27, beginning June 2026, will be governed by the new law.The CBDT said the changes aim to make the tax system more accessible and efficient, while maintaining continuity during the transition period.



Source link

‘Very unfortunate’: KKR head coach breaks silence on Cameron Green workload row | Cricket News


'Very unfortunate': KKR head coach breaks silence on Cameron Green workload row
Cameron Green (AP Photo/Rafiq Maqbool)

NEW DELHI: Kolkata Knight Riders head coach Abhishek Nayar has downplayed concerns over Cameron Green not bowling so far in IPL 2026, saying it’s just an unfortunate situation. The Australian all-rounder, bought for Rs 25.2 crore, is currently unable to bowl due to a lower back injury, though he is expected to resume soon.Nayar made it clear that KKR’s investment in Green goes beyond immediate results, with the franchise viewing him as a long-term option and a potential successor to Andre Russell.

Watch

Mike Hussey admits CSK were outplayed after batting collapse

“There are things that sometimes are very unfortunate; it’s not in your control, but that’s the sport, and that’s the beauty of the sport. So, we always consider best-case scenarios. Yes, you want back-ups; you pick players who do certain things,” Nayar said. “But when we went into the auction… we felt Cam Green could do that for us. It’s just unfortunate that he’s not been able to bowl so far.”He added that auction decisions are made with a bigger picture in mind, saying, “See, the idea of picking a player in an auction is not always very short-sighted… we as a franchise always invest in the player and what the player at his best can bring to our table, and we know what Cam Green can do.”

Abhishek Nayar backs Varun to bounce back

Nayar also showed confidence in Varun Chakaravarthy, who has been struggling for form recently. He believes the spinner is mentally strong and capable of turning things around.“I honestly believe mentally he is in a very good space… Is it his toughest challenge? I feel he’s gone through a lot more than this,” he added.While acknowledging that teams have started playing him better, Nayar remained optimistic. “But yes, teams are playing him well… it’s inevitable that he will bounce back as he has in the past,” he concluded.



Source link

Road & railway ministries utilise 100% Capex in FY 26


Road & railway ministries utilise 100% Capex in FY 26

New Delhi: The earnings of Indian Railways from passenger movement rose 6% to around Rs 80,000 crore in 2025-26, while freight revenue lagged, clocking a 1.4% rise to Rs 17.8 lakh crore.Data showed that the national transporter carried a record 741 crore passengers during the last financial year and freight loading was at an all-time high of 1,670 million tonnes, although it was lower than the target of 1,700 MT.Separate data also showed that railways and road transport ministries utilised their entire capex for FY26 of around Rs 5.5 lakh crore.Road transport ministry officials said highway construction touched 9,100 km and the award of new works stood at 6,500 km. NHAI, which is responsible for construction and maintenance of wider highways, said it constructed 5,313 km of NHs, about 15% higher than the target of 4,640 km for the year.“The capital expenditure by NHAI in 2025-26 was at Rs 2.4 lakh crore. This is about 2.5% higher than the budgetary support. The differential amount has been met through NHAI’s own resources,” it said.On Wednesday, railway minister Ashwini Vaishnaw informed Rajya Sabha that the national transporter operated 76,352 special trains in the last financial year and cargo loading also increased. In a statement, railways said freight growth was driven by a 13% increase in fertiliser, pig iron and finished steel transport. Iron ore loading increased 6.7%, while cement volume went up 3.4%, reflecting steady activity in the infrastructure and construction sectors.



Source link

Cabinet OKs CM-led body to clean up river basins | Mumbai News


Mumbai: A unified River Rejuvenation Authority on the lines of National River Conservation Authority will be set up in the state to clean up the four major river basins—Narmada, Tapi, Krishna and Godavari. The state cabinet on Wednesday approved the proposal for its establishment to carry out both regulatory and developmental work to reduce pollution of rivers as well as to conserve and revitalise them.The CM will be the chairman of the authority, while the ministers for finance, urban development, water resources, industry, rural development and panchayati raj will be members. Two panels—an executive committee headed by the environment minister and a secretary-headed committee headed by MPCB’s member- secretary—will oversee implementation. There are 296 polluted river belts across the country, of which 54 are in Maharashtra. The authority will oversee the rejuvenation of rivers from source to sea of all rivers across the state. The cabinet approved raising Rs 2,000 crore through MPCB, which has a corpus of Rs 4,000 crore. The state govt will contribute Rs 100 crore. The cabinet also approved providing 10% of the amount received from minor mineral extraction to the authority every year. Money will also be raised through social responsibility funds received from various companies and mixed financing from various financial institutions. TNN



Source link

Jharkhand resident suffers serious injuries after falling into gap at Thane station | Mumbai News


Thane: A 30-year-old man suffered serious injuries to his limbs after falling into the gap between the platform and train at Thane station late Tuesday, officials informed Wednesday.The incident, according to the Thane railway police, was reported around 10 pm when the passenger, identified as Purushottam Paswan, a resident of Jharkhand, along with his friend, was attempting to deboard the Indrayani Express that was leaving Platform 6 for Mumbai. Paswan slipped off and fell in the gap and was rescued by fellow passengers, railway and police staff who rushed to the spot.“The victim was initially taken to the Thane Civil Hospital, but considering the severity of his injuries, he was later referred to the Lokmanya Tilak Municipal General Hospital (Sion Hospital) in Mumbai for advanced treatment Wednesday morning. We will record the statement of the victim once his condition is stable. We are appealing to commuters to avoid boarding or alighting from moving trains,” said a Thane railway police official.It may be recalled this is the third incident at Thane station alone reported this year. A woman suffered serious injuries after falling in the gap on Feb 23 while she was attempting to board one of the sleeper coaches of Mahanagari Express at Thane. In another instance, a 55-year-old man was killed after slipping between two coaches of a suburban train after a passenger fell in between them apparently while alighting from the train Jan 13.



Source link

PM chairs CCS meet on Middle East conflict, orders urgent steps to secure supplies and curb price risks | India News


PM chairs CCS meet on Middle East conflict, orders urgent steps to secure supplies and curb price risks

Prime Minister Narendra Modi on Wednesday chaired a special meeting of the Cabinet Committee on Security (CCS) to review the impact of the ongoing Middle East conflict, directing ministries to take urgent steps to safeguard essential supplies and protect citizens.“PM directs that all efforts must be made to safeguard the citizens from the impact of this conflict,” the government statement noted as the high-level panel assessed measures across energy, fertilisers, agriculture, logistics and MSMEs.The meeting reviewed actions to ensure availability of petroleum products, particularly LPG and LNG, with diversification of supply sources underway. LPG prices for domestic consumers have been kept unchanged, while anti-diversion enforcement is being strengthened to curb hoarding and black-marketing.“Supply diversification for LPG and LNG, fuel duty reduction and power sector measures reviewed to ensure stability of essential supplies,” the govt said.The Prime Minister also assessed the power situation, with officials highlighting steps such as additional coal supply to thermal plants and easing norms for gas-based power generation.“Enough coal stock exists which shall serve power needs adequately in coming months,” the release noted.On fertilisers, the government said it is maintaining urea production and coordinating with overseas suppliers for DAP and NPKS to ensure adequate availability during Kharif and Rabi seasons. States have been asked to act strictly against hoarding and diversion through monitoring and enforcement.The CCS also reviewed price trends of essential commodities, with control rooms set up for real-time coordination with states and Union Territories under the Essential Commodities Act.“Steps being taken to ensure stable prices of essential commodities and strict action against hoarding and black-marketing,” the release said.The Prime Minister emphasised the importance of clear communication amid the evolving crisis.“PM underlines the need for timely & smooth flow of authentic information to the public to prevent misinformation and rumour mongering,” it added.The meeting also discussed global efforts to secure safe passage of vessels through the Strait of Hormuz and broader initiatives to stabilise supply chains.Officials said enhanced coordination across central, state and district levels is being undertaken, with the Prime Minister directing all departments to take “all possible measures to ameliorate the problems of citizens and sectors affected by the ongoing global situation,” the release said.



Source link

Maharashtra: 8 women workers killed as truck collides with tempo on Jalna’s Samruddhi highway | India News


Maharashtra: 8 women workers killed as truck collides with tempo on Jalna’s Samruddhi highway

Eight women workers were killed on the Nagpur-Mumbai Expressway in Jalna district, Maharashtra, after a truck collided with a tempo in which they were standing. The accident occurred on Jalna’s Samruddhi Highway when the workers, waiting in a side lane to leave after work, were struck from behind by a truck that had changed lanes, police said.“This tragic incident resulted in the deaths of seven people. Six or seven others sustained serious injuries… The police have taken the truck driver responsible for the accident into custody. The police have registered a case of culpable homicide against him and are proceeding with further legal action, including his arrest…,” said Ajay Kumar Bansal, superintendent of police, Jalna. Maharashtra chief minister Devendra Fadnavis described the accident as “extremely tragic” and extended his condolences to the victims and their families. “The accident on Jalna’s Samruddhi Highway resulting in 8 deaths is extremely tragic. I pay my condolences to the victims. Our thoughts are with the families. Injured are being treated, and local administration is coordinating. District Collector and Police Superintendent are on-site. Praying for the injured’s swift recovery. Rs 5 lakh aid will be given to the deceased’s families,” Fadnavis said through a post on X.



Source link

Trump attends SC argument on birthright citizenship in unprecedented appearance


Trump attends SC argument on birthright citizenship in unprecedented appearance

TOI correspondent from Washington: In a scene without precedent in the 237-year history of the American judiciary, US President Donald Trump on Wednesday attended the Supreme Court hearing in the birthright citizenship case, highlighting the profound significance of the outcome even as critics saw his appearance as an attempt to intimidate the nine justices.At the heart of the case is Trump’s January 2025 executive order that seeks to dismantle the long-standing interpretation of the 14th Amendment, denying automatic citizenship to approximately 250,000 children born annually in the US to undocumented parents or temporary visa holders. The administration’s architect for the argument, Solicitor General John Sauer, contended that the phrase “subject to the jurisdiction thereof” excludes those without “full allegiance” or permanent domicile in the United States.The bench, however, appeared skeptical as they grilled Sauer. Justice after justice probed whether an executive order could overrule 160 years of settled law. Representing the challengers, ACLU National Legal Director Cecillia Wang argued that birthright citizenship is an “indefeasible” right, applying to nearly everyone born on US soil except for the children of foreign diplomats or invading forces.While Wang held the podium, the intellectual “blueprint” for the opposition’s case was visible in the research of Indian-American legal scholar Smita Ghosh. As a lead author of the “Brief of Scholars of Constitutional Law and Immigration,” Ghosh’s historical evidence—asserting that the 14th Amendment was explicitly intended to be status-blind—formed the backbone of the respondents’ defense.The President’s presence in the court – unprecedented in its history – cast a foreboding shadow in the chamber where six of the nine justices are conservative, and three of them his nominees. Still, the hearing appeared to lean towards the respondents with at least two conservative justices sounding skeptical of the government’s case. Outside, the SC plaza was a cacophony of protesters and supporters, reflecting a nation divided over the definition of “American.” With lower courts having already blocked the order, the nation now waits for a final ruling, expected by early summer.



Source link

Bengaluru Techie Death: Tragic Double Death: Bengaluru Techie Jumps from 17th Floor After Partner Found Dead | Bengaluru News


A techie couple from Telangana died tragically within minutes of each other in Bengaluru’s Kothanur area.

BENGALURU: A tragic chain of events unfolded in Bengaluru’s Kothanur area, where a techie couple from Telangana died within minutes of each other at their apartment complex, leaving residents and police stunned.Bhanu Chander Reddy Kunta (32), a software engineer from Siddipet, was found hanging inside a locked room at his flat on Monday. According to police, his wife, Shaziya (31), an IBM employee, grew suspicious after he failed to respond despite repeated knocks on the door.Alarmed, she alerted apartment security and neighbours. When the door was eventually forced open, Bhanu was found dead inside the room.Minutes later, Shaziya ran out and jumped from the 17th floor of the same residential building, dying on the spot before anyone could intervene.Police have registered two separate cases of unnatural death based on complaints filed by their families in Telangana.Officials said multiple angles are being examined, including possible health concerns, relationship issues and emotional distress. The exact cause and sequence of events will be clearer after post-mortem reports and further investigation.



Source link