India’s market watchdog, the Securities and Exchange Board of India, on Tuesday issued a consultation paper proposing changes to nomination norms for demat accounts and mutual fund folios, seeking public comments.

The regulator said the proposals aim to modify its January 10, 2025, circular on nomination facilities in the securities market to improve the ease of investor onboarding and align processes with banking norms.

Under the existing framework introduced last year, single-holding investors were allowed to authorise one nominee (excluding minors) to operate their accounts in case of physical incapacitation, provided they remain mentally capable of contracting.

However, nominees are not permitted to update key account details such as bank information or contact details.

The current rules also mandate investors to provide at least one personal identifier of the nominee, such as PAN, driving licence number or the last four digits of Aadhaar, along with full contact details, relationship status, and date of birth in case of minors.

Investors can nominate up to 10 persons in a mutual fund folio, while Power of Attorney (PoA) holders are not allowed to nominate.

Moreover, the market regulator has flagged implementation challenges and risks associated with allowing nominees to operate accounts. The SEBI noted that the industry has cited high compliance costs, difficulty in maintaining audit trails, and potential risks of fraud, misuse and legal disputes.

To address this, it has proposed allowing the existing Power of Attorney mechanism to be used in cases where an investor is incapacitated but still capable of entering into a contract.

The regulator has also proposed simplifying the nomination process by reducing mandatory details. It suggested that only the name of the nominee and the nature of the relationship with the investor should be compulsory, while other details can be provided optionally.

In addition, the SEBI has proposed making nomination the default option at the time of opening new accounts.

For existing accounts without a nomination or opt-out, intermediaries will be required to periodically nudge investors through email and SMS to complete the process.

Further, while the 2025 circular increased the maximum number of nominees from three to 10, the SEBI said this could create operational challenges.

It has now proposed capping the number of nominees at four for both demat accounts and mutual fund folios, while retaining the limit of three joint holders.

Finance Minister Nirmala Sitharaman clarified on Tuesday that the entire 25 per cent increase in domestic LPG production is being supplied to households as cooking gas.

Speaking in the Rajya Sabha, the Finance Minister also highlighted that 65 per cent of the total LPG consumed in India is imported, and as much as 90 per cent of this quantity is shipped through the Strait of Hormuz.

The government is ensuring a steady flow of LPG even in these turbulent times, she said, and further clarified that there is no energy shortage in India today.

In order to address the shortage from imports, refineries have maximised their output, she noted.

Talking about the economy, she said that despite the war raging in the Middle East, India has been able to maintain its economy. “We’re able to stand up and face such situations,” she remarked.

She went on to say that it is the position of the Indian economy today that gives it the strength to meet unforeseen problems.

In addition, the capital outlay for infrastructure projects such as highways, ports and railways that spur growth and create jobs in the economy has been increased to Rs 12.2 lakh crore, she pointed out.

India’s domestic refineries have stepped up LPG production to fill the gap in imports caused by the disruption due to the closure of the Strait of Hormuz because of the Iran war, according to a statement issued by the Ministry of Petroleum and Natural Gas.

“LPG supply continues to be monitored in view of the prevailing geopolitical situation. No dry-outs have been reported at LPG distributorships. Delivery Authentication Code (DAC) coverage has been expanded from 53 per cent before the crisis to about 72 per cent to prevent diversion of cylinders at the distributor level,” the statement said.

Two Indian-flagged LPG carriers safely crossed the Strait of Hormuz before arriving in India on March 16 and 17, as the government continues to closely monitor maritime operations in the Persian Gulf region amid the evolving geopolitical situation in West Asia.

MT Shivalik and MT Nanda Devi — carrying approximately 92,712 metric tonnes of LPG – crossed the Strait of Hormuz early Friday.

Major ports are prioritising berthing for LPG vessels to ensure the timely discharge of cargo and continuity in energy supply.

Over the past few days, six LPG vessels have been received at major Indian ports. Additionally, ports are providing safe anchorage areas for vessels loaded with cargo bound for the Gulf region that are currently unable to transit due to prevailing conditions.

The online bookings of LPG cylinders have increased from about 84 per cent to around 90 per cent, which will enable a more orderly distribution of the cooking gas to households.

At a spectacular ceremony in New Delhi, Devajit Saikia, secretary of the Board of Control for Cricket in India (BCCI), extended his congratulations to all the winners of the BCCI Naman Awards and wished them continued success.

We would like to extend our congratulations to all of the recipients of the BCCI Naman Awards. Your commitment, passion, and performances continue to set the standard for Indian cricket and serve as an example for millions.

Devajit LON Saikia expressed his best wishes for the award winners in a tweet on Monday, wishing them continued success in elevating Indian cricket to new heights.

The BCCI secretary’s post, which included images from the event, celebrated the triumph and majesty of Indian cricket the night before.

The BCCI Naman Awards 2026 honored exceptional accomplishments in Indian cricket, acknowledging quality in international, domestic, and age-group cricket, as well as recognizing individuals who have had a long-lasting impact on the game in India.

In appreciation of their long-lasting contributions to Indian cricket, former India legends Roger Binny and Rahul Dravid were given the renowned Col CK Nayudu Lifetime Achievement Award, while former India women’s captain Mithali Raj was given the BCCI Lifetime Achievement Award for Women in recognition of her significant role in advancing women’s cricket in the nation.

Other award recipients included India’s Test and ODI captain Shubman Gill, who won the Polly Umrigar Award for the 2024–25 season, and Smriti Mandhana, who was awarded the Best International Cricketer (Women) title for the fifth time.

Ayush Mhatre, the current captain of the Indian women’s team that won the recent U-19 World Cup, and Shafali Verma, the team’s opener, were both recognized for their outstanding performances throughout the 2024–25 domestic season. The Mumbai Cricket Association received the award for the finest performance in BCCI domestic competitions.

The ceremony’s highlight was the acknowledgment of five Indian teams that had recently won ICC championships, including the ICC Champions Trophy 2025, the ICC Men’s T20 World Cup 2026, the ICC Women’s Cricket World Cup 2025, and the men’s and women’s ICC Under-19 Cricket World Cup events, highlighting a historic era of success for Indian cricket.

Due to disruptions in the Strait of Hormuz, new worries about supply arose, driving crude oil prices up about 3% on Tuesday, reversing the losses of the prior session.

At about 9:45 a. m. , US West Texas Intermediate (WTI) crude futures increased 3. 05% to $96. 36 per barrel, while Brent crude futures rose 2. 98% to $103. 20 per barrel.

Despite both benchmarks increasing by about 4% earlier in the day, Brent fell 2. 8% and WTI fell over 5% in the last session.

The current US-Israel-Iran conflict, now in its third week, has caused significant disruption to the Strait of Hormuz, a crucial chokepoint for around 20% of the world’s trade in oil and liquefied natural gas.

The possibility of supply shortages, increasing energy costs, and growing inflation has increased due to the situation.

On the other hand, oil prices were rather steady week to week. WTI traded more than 1% lower during the same period, while Brent crude was generally flat compared to last Friday’s closing.

In the meanwhile, Interior Secretary Doug Burgum stated that the United States has reached energy agreements worth between $56 and $57 billion with Indo-Pacific allies, calling the action a component of initiatives to increase energy security among allies.

At the US-sponsored Indo-Pacific energy security conference, which included representation from nations throughout the area, the deals were completed.

In an attempt to maintain the stability of the world’s energy supplies, Iranian oil tankers have been granted permission to travel through the Strait of Hormuz, according to US Treasury Secretary Scott Bessent, notwithstanding the continuing conflict.

Any disruption to the Strait of Hormuz, which is still a crucial route for international energy commerce, represents a serious threat to markets.

Analysts say that because of their significant reliance on crude imports from the Gulf area, Asian economies, notably India, are still very at risk.

The Sensex and Nifty, two of India’s main stock market indicators, also experienced significant volatility during Tuesday’s trading.

India is becoming one of the most proactive markets in the world when it comes to integrating artificial intelligence (AI) into payroll processes, with 34% of Indian firms intending to implement AI in the near future.

ADP report states, an HR solutions provider, India’s use of AI is growing in essential payroll tasks, with about half of businesses using it to automate procedures, simplify data entry, and compute taxes, benefits, and overtime.

The study went on to say that data validation, audits, and regulatory compliance are just a few of the other sectors being investigated for potential AI innovation.

“Payroll is located at the intersection of size and inspection in India. To improve decision-making, organizations are focusing on better controls, audit readiness, and high-quality data. Payroll teams will concentrate on data integrity, regulatory compliance, and governance excellence as AI takes over repetitive jobs, according to Rahul Goyal, Managing Director, ADP India and Southeast Asia.

The business emphasized skill shortages facing payroll teams in the Asia Pacific region (APAC), pointing out that, above the global average of 72%, 80% of businesses are looking at how to manage payroll with fewer employees.

To remedy this, reskilling and upskilling are high on the list of priorities, with about 74% of payroll managers in the Asia-Pacific region saying that staff shortages have already had an impact on their payroll activities.

According to the study, 33% of businesses saw AI as a significant factor in payroll changes over the next two to three years, and approximately 49% of respondents were experimenting with AI to enable more efficient operating models.

The firm observed that companies are mostly using AI to automate data entry, speed up report creation, and identify fraudulent transactions.

Data security laws are slowing AI adoption, according to about 79% of businesses, while 51% of survey participants want payroll teams to devote more attention to improving data security procedures via the implementation of new policies, safeguards, and continuity plans.

India’s astounding economic and technological development over the year is highlighted by the Bharat Progress Report 2025-26.

The report highlights the attainment of 101 significant milestones in the fields of renewable energy, space, highways, railways, and digital public infrastructure, bringing the nation closer to its goal of becoming a developed one.

According to the report, India surpassed Japan in 2025 to become the fourth-largest economy in the world, with a nominal GDP of around $4. 18 trillion.

With a strong growth rate of 8. 2%, India remains the fastest-expanding major economy in the world. The nation is currently on track to rank among the top three economies in the world in the near future.

Several high-frequency indicators that reflect the momentum of economic expansion are mentioned in the report. The mutual fund industry in the nation surpassed Rs 80 lakh crore in assets under management in April 2025, and GST receipts hit a record high of Rs 2. 17 lakh crore. With increasing investor confidence, cumulative foreign direct investment has surpassed $1. 15 trillion.

The monthly UPI transactions crossing Rs 21 lakh crore and the Aadhaar authentication reaching one billion demonstrate the growth of India’s digital public infrastructure, which is also being implemented by other nations.

This allowed for the growth of financial inclusion in the nation, with a significant increase in the transparent distribution of government services to the poor directly into the accounts of beneficiaries.

The completion of the Chenab Rail Bridge, the highest railway arch bridge in the world, and the ongoing growth of the Vande Bharat train network, which has improved high-speed rail connectivity, were the major accomplishments in infrastructure and connection. In addition, the nation increased its logistics network and national highways, which helped lower transportation expenses and improve supply chains.

The report also emphasizes the nation’s advancements in science and cutting-edge technology. India made a dramatic entrance into the select group of nations with this advanced technology after the Indian Space Research Organization’s Space Docking Experiment (SpaDeX) successfully proved in-orbit docking capability.

As the nation establishes itself as a potential rival to China for becoming the world’s manufacturing hub for high-tech electrical goods, a significant move was also made during the year to build domestic capacity in semiconductors, artificial intelligence, and quantum computing.

Additionally, in the battle against climate change, India has made significant strides in meeting its renewable energy targets. With significant expansion in solar, hydel, and wind energy, the nation’s proportion of non-fossil fuel electricity capacity surpassed the 50% threshold five years before the 2030 objective.

The report emphasizes that the nation’s progress in reaching these milestones demonstrates its transformation into a key engine of global growth in the new world order.

According to the Ministry of Petroleum and Natural Gas, India is still self-sufficient in the manufacture of petrol and diesel. The country’s refineries are all functioning at full capacity and holding sufficient crude oil stocks, therefore there is no need for imports of the fuels to satisfy domestic demand.

The ministry said in a statement that the government continues to give priority to the interests of domestic consumers and guarantee an uninterrupted supply of LPG, especially to households and priority industries like schools and hospitals.

As oil marketing firms (OMCs) such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum continue to keep a steady supply of gasoline and diesel, they have not recorded any instances of fuel dry-outs at retail locations. The statement advised citizens to refrain from engaging in panic purchasing since there are enough supplies of gasoline and diesel fuel around the nation.

Additionally, the ministry statement urged citizens not to worry because the government is still dedicated to ensuring sufficient LPG supply for households and vital industries. There are several digital channels for scheduling LPG cylinders, such as SMS booking, WhatsApp booking, IVRS calls, and mobile apps from OMCs.

To ensure a seamless supply, the OMCs are maintaining LPG distributorships open on Sundays, encouraging digital bookings, and discouraging panic bookings.

It reiterated that customers should avoid panic bookings, utilize digital booking platforms, and refrain from making pointless trips to LPG dealers.

Given the current geopolitical climate, the LPG supply is still being watched. There has been a decrease in LPG bookings, with approximately 77 million bookings recorded on Saturday as opposed to 88. 8 million on Friday. Online LPG cylinder bookings have risen from 84% to over 87%.

Whenever feasible, citizens are urged to choose alternative fuels like PNG. The government and public sector oil marketing companies (OMCs) are still raising public knowledge about the continuous supply of LPG and the recent drop in panic bookings.

Priority sectors, such as CNG and PNG, are still guaranteed a 100% gas supply, while gas supplies to industrial and commercial customers are being controlled at about 80%, according to the statement.

Commercial LPG customers in major cities and urban centers are urged to choose PNG connections and can do so by submitting an application through the customer portal of City Gas Distribution (CGD) firms, via email, or through the mail.

The output of domestic LPG from refineries has been maximized, and consumers have been encouraged to schedule refills online. To ensure equitable distribution, scheduling intervals have been rationalized to 25 days in urban regions and up to 45 days in rural areas.

To meet alternative fuel requirements, states and UTs have received an additional 48,000 KL of kerosene.

To reduce strain on LPG supplies, alternative fuels like coal and kerosene have been activated for specific industries, such as hospitality and restaurants.

The US waiver for purchasing Russian seaborne crude has immediately freed up an additional 20 million barrels of oil on ships, which is anticipated to moderate skyrocketing prices that have reached over $100 per barrel in the global market as a result of the conflict in Iran.

Currently, there are about 25 vessels transporting Russian crude at sea, with an additional five vessels carrying petroleum products. These can be directed right away to the places where the demand originates.

For Indian refiners to purchase Russian oil with the goal of increasing the availability of raw materials in the market and lowering prices, the Trump administration had previously issued a 30-day waiver, which is now supplemented by the temporary waiver.

With India and China among the top importers of oil, they have so far been the primary purchasers of Russian crude, which has contributed to managing global prices.

Thursday saw the Trump administration grant a new license enabling nations to purchase specific Russian oil products on a temporary basis.

Treasury Secretary Scott Bessent posted on social media, “To expand the global reach of existing supply, @USTreasury is giving a temporary authorization to allow countries to buy Russian oil that is now stranded at sea. ”

“This narrowly tailored, short-term measure applies only to oil already in transit and will not provide significant financial benefit to the Russian government, which derives the majority of its energy revenue from taxes assessed at the point of extraction. ”

The license, which is available on the US Treasury website, only covers Russian crude or petroleum products that were transported by sea beginning on March 12. The license allows those shipments until April 11.

The news coincides with the new Iranian leader’s intention to close the Strait of Hormuz, which carries 20% of the world’s oil exports.

The Iran war is currently in its second week, with a sustained increase in missile and drawn attacks that have also hit commercial vessels and oil infrastructure in Middle Eastern nations.

Indian banks are benefiting from ongoing credit growth, improved digital public infrastructure, the widespread implementation of AI-driven operating models, and increased regulatory attention on climate risk, cybersecurity resilience, and governance.

KPMG International’s study found that the industry is on par with its global counterparts in terms of scaling from pilots to business AI applications, making investments in workforce reskilling, and improving cybersecurity and ESG frameworks to promote long-term resilience.

According to a poll of 110 CEOs of the world’s banking and capital markets, 83% are optimistic about growth over the next three years, and 65% consider AI to be a key investment priority.

Seventy percent of CEOs intend to invest 10–20% of their budgets for the following 12 months in AI, while 59% anticipate that agentic AI will have a revolutionary effect, and 69% anticipate that it will pay off in one to three years.

Reskilling for AI is a high priority for about 83% of bank and capital market CEOs; 79% claim that AI has changed the definition of entry-level skills, while 78% issue caution. artificial intelligence If ignored, workforce readiness could have a detrimental effect on the organization, according to the study.

According to Sanjay Doshi, Partner and Head of KPMG in India’s Transaction Services and Financial Services Advisory, “the same imperative is increasingly shaping the Indian banking industry as global banking leaders respond to rising operational and regulatory costs by pursuing scale and strategic M&A. ”

For India, scale is more than just size; it’s a catalyst for growing distribution, speeding up digital transformation, and improving cost effectiveness, according to Doshi.

According to him, targeted integration and partnership-led growth can unlock new markets, reinforce value propositions, and establish long-term competitive resilience as banks increase their investments in technology and modernize their operational models.

Data preparedness and regulatory gaps were listed by 55% of CEOs as the biggest obstacles to growth, followed by ethical concerns at 56% and cybersecurity at around 86%.

Nitin Khara, Chairman and Managing Director (CMD) of Confidence Petroleum India Limited (CPIL) stated that, oil marketing firms (OMCs) and businesses engaged in the supply of liquefied petroleum gas (LPG) are making ongoing efforts to keep distribution running smoothly throughout the nation in the face of geopolitical tensions caused by the Iran war.

Despite the obstacles that the changing global market has placed on the supply of LPG, Khara emphasized that the company’s top priority is still maintaining an unbroken supply for Indian consumers and retailers.

He stated that CPIL is monitoring the LPG supply situation on a daily basis.

“We evaluate every morning on how to guarantee the gas supply for that day. We do our best to provide timely delivery, but due to limited availability, certain challenges have arisen, as dealers from all over the nation call throughout the day,” he said.

He said that LPG importers are now experiencing a significant logistical challenge since two LPG ships are stranded close to sea ports and cannot enter or exit. The regular supply chain has been disrupted by this.

Khara told that the company usually imports about 40,000 metric tons of LPG each month, but this cycle has been disrupted by the current circumstances.

The original plan, according to Khara, was to unload 850 metric tons from the shipment, with the balance going to the Malaysian operations of the Norway-based energy corporation Equinor, as per a prior agreement.

The firm typically upholds its commitments, even if there is no formal sale and purchase agreement, he said.

However, some merchants insisted that the gas be delivered to Indian customers instead.

Khara stated, “In light of these requests, we are considering the possibility of using the available LPG in the nation to alleviate the burden on consumers at home. ”

He also mentioned that the state governments have recommended unloading the gas locally in order to increase the supply in the national market.

If the LPG is kept in India, it could help guarantee an extra 12 to 13 days of supply, which might alleviate some of the market’s concerns.

The manufacture and availability of LPG have been impacted by the current global conflict and disturbances, according to Khara.

Even if the situation returns to normal right away, it may take almost four months for the entire supply chain to stabilize because of refinery damage, low output, and a lack of LPG tankers.