Biz Update: A further one-year moratorium on futures trading of seven agricultural products, including wheat, gram; 1.8 million+ personnel associated with ESI
New Delhi| Capital markets regulator Securities and Exchange Board of India (SEBI) has extended the ban on futures trading of seven agricultural products for another year. SEBI has directed all stock exchanges with commodity derivative segment to suspend futures trading of non Basmati rice, wheat, gram, mustard, soybean, crude palm oil and moong till March 31, 2026. SEBI first prohibited futures trading on all seven of these agricultural products in 2021. Since then it has been continuously extended for one year each. The ban prohibits all recognized commodity exchanges from introducing new contracts and trading in existing contracts. Futures market is a market where an attempt is made to estimate the future price of a commodity keeping in mind the demand and supply of a commodity. The government fears that futures trading of these agricultural commodities will increase speculation in their prices in the country and their prices will rise. This will further increase food inflation in the country.
18.19 lakh new employees associated with the ESI scheme
A total of 18.19 lakh new employees were added to the ESI scheme of the Employees’ State Insurance Corporation (ESIC) in January, 2025. This is up 2.34 per cent on an annual basis. The new registrations account for 47.66 percent, or 8.67 lakh employees, up to the age of 25, the Labor Ministry said in a statement Monday. During this period, 3.65 lakh female and 85 transgender employees have registered. In January 27 805 new establishments were brought within the social security remit of the ESI scheme.
RBI exchanged foreign currency worth $10 billion
The RBI on Monday swapped US dollars and rupees worth $10 billion to boost liquidity in the financial system. This auction received an overwhelming response. The disposal of the first phase of this auction will be concluded on 26 March and the second on 27 March. The US dollar/Indian rupee buy-sell exchange auction for a period of three years received a subscription of 2.23 times. During the auction, RBI said, 325 bids were received. Of these, 96 bids worth $10.04 billion were accepted. The cutoff rate in the auction was set at Rs 5.86.
Thailand: Motion of no confidence against the Prime Minister
Thailand PM Paitontarn Shinawatra faced a no-confidence motion in Parliament on Monday. The opposition alleges that she is mismanaging the country under the influence of her father and former PM. He hopes for the support of the alliance.
Russia is making special partnership with India: Lavrov
Russian Foreign Minister Sergei Lavrov said that his country is developing a special strategic partnership with India. Lavrov was speaking at a meeting of the board of trustees of the Alexander Gorchakov Public Diplomacy Fund on Monday. Agency
53 children from Pakistan will return to Afghanistan
53 children who came into the country illegally through the Khyber district border in Pakistan will be returned to Afghanistan. These children had cut the border fence to enter Pakistan in search of work. There are 700 cross-border attempts here every day.
Senior bureaucrat Ajay Seth appointed Finance Secretary
Senior bureaucrat Ajay Seth has been made the new Finance Secretary on Monday. Seth, a 1987 batch Indian Administrative Service officer from Karnataka cadre, is currently the Secretary of the Department of Economic Affairs. This post was vacant after Tuhin Kant Pandey was made the chairman of SEBI.
Startup Mahakumbh will boost investment
Startup Mahakumbh will be held from 3rd to 5th April at Bharat Mandapam in New Delhi. Organizing committee member Vineet Rai said, this is the world’s largest innovation and entrepreneurship festival. It will involve more than 3,000 startups. This will promote investment in the country.
Income tax notice of 104.7 crore to Care Health Insurance
Religare Enterprises Ltd. Care Health Insurance, a subsidiary of (REL), has received a notice of 104.77 crore for assessment years 2020-21 and 2021-22. The demand notice has been sent by the office of the Assistant Commissioner of Income Tax located at Central Circle 6 (2), Mumbai, REL said in a notice to the stock market. If it is required to be paid, it will be paid by the insurance company. The company said, based on the advice of tax advisors, it will file an appeal against this notice.
Amendment in loan norms for priority sector comes into effect from new rule one
RBI on Monday amended the norms related to priority sector lending (PSL). The new guidelines will come into effect from April 1, 2025. RBI said, under the new norms, three categories have been prescribed for housing sector loans. These categories are…50 lakh rupees (centres with population of 50 lakh and above), 45 lakh rupees (centres with population of 10 lakh and above and less than 50 lakh) and 35 lakh rupees (centres with population less than 10 lakh). The loan limit for individual families has been set at Rs 10 lakh per borrower. Replaced foreign currency worth $10 billion…The RBI on Monday swapped US dollars and rupees worth $10 billion to boost liquidity in the financial system. This auction received an overwhelming response. The disposal of the first phase of this auction will be concluded on 26 March and the second on 27 March. The US dollar/Indian rupee buy-sell exchange auction for a period of three years received a subscription of 2.23 times.
India will build two more multipurpose ships for Germany, agreement
India will build two more multipurpose ships for Germany. For this, Indian public sector company GRSE signed a contract with a German company on Monday. With the signing of this contract in Hamburg, Germany, Kolkata-based GRSE i.e. Garden Ridge Shipbuilder & Engineering Ltd., Carsten Rehder Schiffsmakler & Reederei GmbH & Co. will build a total of eight MPVs i.e. multipurpose ships for KG, officials said.
