SEBI introduces folio lock to enhance mutual fund security from April 30

by Hansraj Agrawal | Mar 6, 2026 | Business

SEBI’s move aims to safeguard investor assets and prevent unauthorized debits, giving mutual fund investors more control over their portfolios while maintaining operational flexibility.

In a bid to promote the digital security of units of investors in Mutual Funds, the capital market regulator SEBI has introduced a voluntary debit freeze facility across demat and non-demat folios.

The move will ensure that no units are debited from such folios until they are unlocked. The facility will come into effect from April 30.

In the first phase, the RTAs will provide the facility to lock the folio to investors through the MF Central platform.

It will be enabled only for KYC-compliant investors with valid email IDs and mobile numbers, SEBI said.

AMFI will prescribe the detailed process for locking and unlocking of folios to all AMCs / RTAs and will also provide the processes to be followed by different types of investors after due consultation with SEBI.

AMFI is also advised to prescribe a detailed list of financial and non-financial transactions that may be allowed during the lock-in period to AMCs/RTAs.

Published on March 6, 2026

Source link

Indian women ride the crypto wave to build portfolio

by Hansraj Agrawal | Mar 6, 2026 | Business

On an average, women investors hold four different digital assets in their portfolios
| Photo Credit:
REUTERS/BENOIT TESSIER

Crypto investment is growing as a means for portfolio diversification among Indian women investors, as per recent data from crypto platforms that show how homemakers are becoming the second-largest investor group after private sector employees among women.

Many women in India are warming towards the idea of crypto investment, but 60 per cent of women investors allocate less than 5 per cent of their monthly income towards the virtual asset, as per data shared by CoinSwitch. This suggests digital assets are largely viewed as a diversification tool rather than primary investment, said the platform. While private sector employees make up 34 per cent of respondents, homemakers account for 28 per cent, making them the second-largest participant group.

“Women in India are showing a growing interest in crypto, but what stands out is the thoughtful way [in which] many are approaching it. The survey indicates that women are gradually exploring digital assets as part of a diversified portfolio while actively seeking reliable information and education before investing,” said Balaji Srihari, VP- Business, CoinSwitch.

Tier-2 cities catching up

Geographically, women from non-metro cities accounted for 55 per cent of investments, while those from metros for 45 per cent. Non-metro women also show far higher altcoin appetite at 38 per cent, against 20 per cent from metros. Similarly, CoinDCX said over 40 per cent women’s participation now comes from Tier-II and non-metro cities, signalling deeper financial inclusion through digital-first investment platforms.

“Our data clearly shows that women are not merely entering crypto; they are participating with discipline, research-driven conviction, and a long-term perspective. The strong acceleration in 2025, particularly across Tier-II and Tier-III cities, signals a structural shift toward deeper financial inclusion,” said Sumit Gupta Co-founder CoinDCX.

Overall, women investors grew 116.8 per cent in the latest annual growth cycle, with women accounting for over 15 per cent of the total investor base. On an average, women investors hold four different digital assets in their portfolios. Popular assets include Bitcoin, Ethereum, Polygon, Solana, Cardano, XRP, Dogecoin, Shiba Inu, and Avalanche, said CoinDCX.

Barriers

While the prime barrier to entry in metro cities was reported to be market volatility, non-metro cities complained of limited knowledge, said CoinSwitch. Education thus plays a crucial role in participation. About 44 per cent women told the platform that beginner-friendly learning resources would help them invest in crypto, followed by regulatory clarity and easy-to-use platforms.

Currently, millennial and mid-career women lead the trend. More than 70 per cent of women investors from the platform survey were between 25 and 44 years old.

The survey also highlighted that 8 per cent women depend on professional advisors, compared to 18 per cent who rely on friends or family, while about 57 percent said they make crypto investment decisions independently.

Trend projections

According to CoinSwitch, 62 per cent of women respondents said they are very likely to invest in crypto in the next 6–12 months, while another 23 per cent said they are somewhat likely to invest, indicating a strong pipeline of new female investors entering the market. Only 3 per cent said they are unlikely to invest, reflecting growing curiosity and confidence among women toward digital assets.

Published on March 6, 2026

Source link

Karnataka Budget announces healthcare, scholarship initiatives with Azim Premji Foundation

by Hansraj Agrawal | Mar 6, 2026 | Business

Karnataka Chief Minister Siddaramiah presents the Karnataka State Budget of 2026-27 at Vidhan Soudha in Bengaluru on Friday, March 6, 2026.
| Photo Credit:
ANI

The Karnataka government has announced plans to expand its collaboration with the Azim Premji Foundation in the State Budget for 2026–27 presented by Chief Minister Siddaramaiah on Friday.

As part of the initiatives outlined in the government’s 17th budget, the state said it will continue its scholarship programme run in partnership with the foundation. Under the scheme, around 37,000 students receive an annual scholarship of ₹30,000 from the foundation, while the remaining beneficiaries are supported by the state government. The programme will continue in the current financial year.

The latest announcements build on the foundation’s ongoing engagement with the Karnataka government across sectors such as education and social welfare.

In August 2024, the Azim Premji Foundation signed an agreement with the state government to support Karnataka’s mid-day meal programme, committing ₹1,500 crore over three years. The initiative aims to provide eggs to students from LKG to Grade X in government and government-aided schools across all 31 districts of the state, with the goal of improving nutrition among schoolchildren.

The budget also noted that the government has signed a memorandum of understanding with the Azim Premji Foundation to build a 1,000-bed charitable super-speciality tertiary care and organ transplant hospital, aimed at strengthening access to advanced healthcare in the state.

Published on March 6, 2026

Source link

I-T Dept expands reporting framework by including crypto, CBDC

by Hansraj Agrawal | Mar 6, 2026 | Business

Crypto-asset service providers and certain financial institutions may now be required to report transactions and holdings involving such assets to tax authorities.

The Income Tax Department has expanded the financial account reporting framework to include crypto-assets, central bank digital currencies (CBDCs) and certain electronic money product. This has been made effective from January 1.

Experts say that such a move aims to ensure that cross-border tax transparency keeps pace with the rapidly evolving digital financial landscape.

According to a March 5 notification by the Central Board of Direct Taxes (CBDT), rules have now brought ‘relevant crypto-assets’ within the reporting architecture. This means that crypto-asset service providers and certain financial institutions may now be required to report transactions and holdings involving such assets to tax authorities. “The amendments come in response to global developments led by the OECD, particularly the Crypto-Asset Reporting Framework (CARF) and updates to the CRS (Common Reporting Standard),” said Sandeep Bhalla, Partner at Dhruva Advisors

Also, definition of financial accounts and institutions to include emerging digital financial products will also include specified electronic money products (SEMPs) and central bank digital currencies (CBDCs). All these will result in the widening of scope of entities and assets covered under the Common Reporting Standard (CRS). framework.

Additional reporting

The rules clarified that accounts holding CBDC on behalf of customers may be treated similarly to deposit accounts in specific cases. Additionally, the definition of “depository account” has been expanded to include accounts representing electronic money products or those holding CBDC. Further, the amendments introduce additional reporting requirements for financial institutions, including confirmation of valid self-certification from account holders, disclosure of joint account details, identification of controlling persons in entities, and classification of accounts as new or pre-existing.

Changes in Rule 114G outline the reporting requirements for financial institutions regarding the reportable account, including interest, dividends, and other income. As per the new amendment, the institutions must also report whether the account holder has provided a valid self-certification and whether the account is a joint account, including the number of joint account holders. Changes to Rule 114H clarify due diligence procedures for identifying reportable accounts.

“Accounts that become financial accounts due to the expanded CRS definitions will be treated as new accounts from January 1, 2026, while those existing as on December 31, 2025 will be treated as pre-existing accounts,” Bhalla explained.

Sumit Singhania, Partner, Deloitte India, opined that amendment represents a step forward in India’s tax policy as CBDCs and specified electronic money products have now been integrated into the definition of ‘depository accounts’. The amened rule is set to apply from 1 January 2026 and ensures that digital forms of money will be subject to same transparency and reporting standards hitherto applicable in respect of traditional physical currency.

“The Introduction of the crypto-asset reporting framework (CARF) requires reporting financial institutions to track gross proceeds from “relevant crypto-assets”. Under these rules, interests in crypto-assets—including derivatives like futures or options—are now classified as financial assets for reporting purposes,” he said.

Bhalla concluded by saying that by bringing crypto-assets, electronic money products and CBDCs within the reporting ecosystem, “India aims to ensure that cross-border tax transparency keeps pace with the rapidly evolving digital financial landscape,”

Published on March 6, 2026

Source link

Unauthorised electronic banking transactions: Burden of proving customer liability in complaints will lie with the bank, says RBI

by Hansraj Agrawal | Mar 6, 2026 | Business

Data scientists. Male programmer using laptop analyzing and developing in various information on futuristic virtual interface screen. Algorithm. marketing and deep learning of artificial intelligence istock photo for BL
| Photo Credit:
iStockphoto

To protect customers from financial losses on account of unauthorised electronic banking transactions (EBTs), the Reserve Bank of India may ask banks to mandatorily send instant SMS alerts for all electronic banking transactions of above ₹500 and compensate for small value (up to ₹50,000) fraudulent EBTs.

Further, the burden of proving customer liability in complaints involving fraudulent EBTs will lie with the bank, per Draft Reserve Bank of India (Commercial Banks – Responsible Business Conduct) Third Amendment Directions, 2026.

The rules under the Amendment, which will be effective from July 1, 2026, mandate that banks implement robust fraud detection systems and provide instant, mandatory alerts for transactions exceeding ₹500.

A customer will be entitled to zero liability and reversal of the transaction in cases where the fraudulent EBT occurs due to negligence / deficiency on the part of the bank (irrespective of whether the transaction is reported by the customer or not).

Third-party breach

The aforementioned clause will also be applicable in cases of third-party breach where the customer reports the unauthorised fraudulent EBT to the bank within five calendar days from the date of its occurrence.

In cases of third-party breach reported to the bank after five calendar days, the customer shall be compensated, in eligible cases, for his / her loss.

Loss arising from any unauthorised transaction occurring after the reporting of the fraudulent electronic banking transaction by a customer to a bank shall be borne by the bank.

A bank has to ensure that complaints involving fraudulent electronic banking transactions are examined, liability therein is established and response, as applicable, is issued to the customer within 30 calendar days from the date of receipt of the complaint.

A bona fide victim, being an individual person and having lodged a complaint involving gross loss of an amount up to ₹50,000 on account of fraudulent EBT(s) shall be compensated 85 per cent of the net loss amount (calculated after reducing recoveries made, whether before or after paying the compensation, from the gross loss amount), or ₹25,000, whichever is less, once during his / her lifetime.

Published on March 6, 2026

Source link

West Asia conflict: Rupee ends the week 77 paise weaker

by Hansraj Agrawal | Mar 6, 2026 | Business

US Dollar and indian Rupee money exchange concept
| Photo Credit:
Amarnath K _12195

The rupee saw a see-saw movement during the week amid the West Asia conflict, spike in crude oil prices and FPI-related outflows from the domestic equity markets, plunging to a record closing low of 92.15 per US dollar on March 4 and making a smart recovery to 91.60 the next day on heavy RBI intervention.

The Indian currency closed the week ended March 6, , at 91.74 per US dollar, down 77 paise as compared with the previous Friday’s close of 90.97. It touched an all-time intraday low of 92.30 on Wednesday.

Amit Pabari, MD, CR Forex Advisors, said that over the past week, the rupee has traded under significant pressure, largely driven by global developments rather than domestic factors.

“With tensions escalating in the Middle East region, Brent crude has surged close to $87 per barrel. For an oil-import-dependent economy like India, even a moderate rise in crude prices carries significant macroeconomic implications.

“A $10 increase in oil prices could expand India’s import bill by nearly $15 billion and widen the current account deficit by about 0.3 per cent of GDP. This effectively translates into stronger dollar demand and increasing pressure on the rupee,” he said.

Pabari observed that against this backdrop, dollar/rupee moved back toward the 92.30 levels during the week on Wednesday, reflecting both higher oil-driven dollar demand and cautious global investor sentiment.

However, the Reserve Bank of India stepped in with intervention on Thursday, pushing the rupee back toward the 91.50 levels and offering temporary relief to the currency, which triggered a sharp one-day rebound toward the end of the week.

“While this is a strategy the RBI has deployed in the past to curb excessive volatility, such support may prove difficult to sustain if strong and persistent dollar demand continues in the market. Going forward, a sustained rise in crude oil prices, continued FII outflows, a strengthening dollar index, and any further escalation in geopolitical tensions are likely to keep the rupee under pressure.

“Technically, the 91.20–91.50 zone is emerging as strong support for USD/INR. On the upside, the pair remains vulnerable. A gradual move toward the 92.50–93.00 region could still be seen as global risks and oil prices remain elevated,” Pabari said.

Moody’s Ratings has warned that costly energy imports in the wake of the Middle East conflict would weaken the rupee, raise inflation, worsen the current account balance and complicate monetary policy as well as fiscal management if they lead to expanded subsidies to help offset the economic shock, warned.

Published on March 6, 2026

Source link

« Older Entries

Next Entries »

Times Top News

Times Top News