Friday, March 13
Indian Railways is piloting a new initiative to release train ticket confirmation status 24 hours before departure, replacing the current 4-hour window. This aims to reduce uncertainty for waitlisted passengers, allowing for better travel planning, especially for those traveling longer distances.
New West Asia conflict may impact India. Limited direct trade impact is expected. Higher oil prices are a major concern for the Indian economy. Disruption of sea routes and increased freight costs are feared by exporters. Saffron prices may rise. Gold imports could increase the trade deficit. The world has managed conflicts in the past.
Deloitte India's whitepaper reveals that India-based Global Capability Centres (GCCs) are now vital for multinational companies managing global tax operations. These GCCs, evolving beyond back-office roles, offer high-value tax expertise and drive digital transformation. With 76% already running global tax processes, India's GCC ecosystem is booming, projected to reach $105 billion by 2030.
US stocks plummeted at the opening bell on Friday following reports of Israeli airstrikes on Iran, escalating Middle East tensions. The Dow Jones Industrial Average sank over 570 points, with the S&P 500 and Nasdaq also declining. Surging oil prices, up nearly 8%, and rising bond yields fueled concerns about inflation and economic instability.
Stock market crash today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, tanked in trade on Friday on global cues. While Nifty50 crashed below 24,550, BSE Sensex tumbled over 1,100 points intraday.
Oil prices surged over 7% following escalating tensions between Israel and Iran, raising concerns about potential supply disruptions. Brent crude reached levels unseen since January, with the market closely monitoring the Strait of Hormuz, a crucial oil transit route. Analysts warn of a possible price spike to $130 a barrel if the conflict escalates further, impacting global energy markets.
The PM-Kisan scheme provides Rs 6,000 annually to eligible Indian farmers in three installments. The 20th installment is expected around June 20, 2025, but official confirmation is awaited. To receive it, farmers must complete eKYC, link Aadhaar to their bank accounts, and also verify beneficiary status on the PM-Kisan portal.
