The Centre is not in a hurry to link fertiliser sales with actual requirement though it has claimed significant reduction in sales in a pilot project currently undergoing in Haryana. States like Andhra Pradesh, Telangana, Madhya Pradesh and Maharashtra are keen to start similar (to Haryana) or even better model to cut unnecessary use of chemical fertilisers.

The Department of Fertilisers has recently informed the Parliamentary Standing Committee that the pilot is at an early stage and may be independently evaluated before considering expansion to other States. However, many experts have suggested national roll out of the pilot amid the current supply disruption after Iran war.

Under the pilot in last Rabi sowing season in Haryana, Urea consumption declined by 1,25,986 tonne and DAP consumption by 23,489 tonne between October 8, 2025 and February 18, 2026, compared to the corresponding period of the previous year, resulting in an estimated subsidy saving of ₹700.53 crore, officials said.

“The reduction suggests that earlier purchases may have exceeded crop area requirements, with possible diversion or bulk concentration among high-volume buyers, which the crop-linked digital authentication mechanism has helped curb,” the government informed the panel.

Sale of subsidised fertilisers is presently carried out on a “no-denial” basis across the country, except Haryana, where it is linked to beneficiaries registered on the state government’s Meri Fasal Mera Byora (MFMB) portal. Under this pilot project, the Centre has linked the PoS-based sales of fertilisers with the database of the MFMB portal.

Under this system, a registered farmer, family member or cultivator can purchase subsidised fertilisers through PoS devices at retail outlets. The identity of the designated farmer (landowner) is authenticated through biometric verification in case of direct purchase, or through SMS-based OTP verification when the purchase is made by a family member or cultivator.

The pilot was conducted in three phases – first, the open sale with passive matching for observation, secondly, open sale with active matching for observation, and third, enforcement of buyer restriction along with risk management measures.

The average quantity purchased per buyer declined by about 11.6 per cent for Urea (from 1.33 tonne to 1.18 tonne) and by 18.7 per cent for Phosphate (P) and Potash (K) fertilisers (from 0.75 tonne to 0.61 tonne). It demonstrated the system’s effectiveness in curbing bulk procurement and ensuring more equitable access to subsidised fertilisers among farmers, officials said.

The Haryana experience also showed that there has been a significant increase in small-scale buyers purchasing less than 10 bags — almost 50 per cent — while buyers purchasing 10 to 20 bags account for 37.8 per cent. Conversely, there has been a decline in larger purchases, with a 35 per cent reduction in the 40 to 50 bag category and a 10.5 per cent decrease in the 30 to 40 bag segment. Overall, Urea consumption has decreased by 10.9 per cent, and DAP by 24.9 per cent. The total number of urea buyers has reduced by 2.3 per cent, and P and K buyers by 8 per cent.

Published on March 14, 2026

Maithan Alloys Limited said it has acquired 12,98,500 equity shares of Bank of India (BoI) on March 13, 2026, for ₹19.82 crore through the stock exchange.

This acquisition is as part of the company’s investment in the public sector bank is with view to reap the long-term/short-term investment benefits, Maithan Alloys said in a regulatory filing.

The company, which manufactures and exportes value-added manganese alloys and now has 0.03% of shareholding in BoI, said it does not intend to acquire control whether directly or indirectly of the management of the Target Entity.

Maithan Alloys equity shares on Friday (March 13, 2026) closed at ₹926.30 apiece, down 1.48 per cent over the previous close on BSE. BoI equity shares closed at ₹150.05 apiece, down 3.04% over the previous close on BSE.

Published on March 14, 2026

India has announced the extension of visas and waiver of overstay penalty to foreigners stranded in the country due to the ongoing conflict in West Asia.

Indian Consulate in Dubai issued a notification announcing that all Visas and e-Visas expiring or due for expiry soon would be extended for a month on a gratis basis for the jurisdictional Foreigners Regional Registration Offices (FRROS).

Authorities said the penalty for any overstay by affected foreign nationals due to the ongoing conflict after February 28 would be waived.

The authorities also clarified that the exit permits will be issued free of charge to foreign nationals affected by the travel disruption so they can leave India once routes reopen.

The consulate also stated that if a foreign nation is unable to apply for an Exit Permit and Extension of Visas, then it would not be treated as a violation of migration legislation.

Temporary Landing Permit (TLP) would also be granted to a foreign national arriving in India due to diversion of flights on a gratis basis, authorities said.

This comes as conflict in West Asia continues with the US and Israel pounding Iran with their drone and missile attacks.

Iran, in retaliation, has targeted US strategic bases in the Gulf region, along with directly hitting Israel. Nearly 500 Indian nationals travelled from Qatar to India and other global destinations on flights operated by Qatar Airways, the Indian Embassy in Doha said in an advisory.

In a post on X, the embassy on Friday said the passengers travelled on Qatar Airways flights to Kochi and other destinations.

The airline also facilitated the transportation of the mortal remains of two Indian nationals who died of natural causes, along with their accompanying family members, to Kochi on humanitarian grounds.

The embassy said Qatar’s airspace is only partially open, resulting in limited flight operations by Qatar Airways.

“One flight to Mumbai is planned for operations by Qatar Airways on March 14,” the advisory said, referring to Mumbai.

The limited flight operations follow an escalating West Asia security crisis, triggered by Iranian missile and drone strikes targeting US military bases, embassies, and civilian infrastructure across the Gulf region, including the UAE, Saudi Arabia, Qatar, Kuwait, Bahrain, and Jordan.

The conflict has caused significant disruptions to global energy supplies, particularly around the Strait of Hormuz, where approximately 20 per cent of the world’s oil transits.

Published on March 14, 2026

Bitcoin has lost almost half its value since October, and a set of indicators that have historically marked the end of past downturns suggest the selloff could be entering its final phase, according to a crypto fund manager who has invested through three prior boom-and-bust cycles.

Brett Munster at Blockforce Capital tracks four measures to gauge where Bitcoin stands in its crash cycle. One has already crossed into territory associated with past lows.

Two others converge near $54,000 to $58,000 — still below Bitcoin’s current price of about $73,800.

And the token briefly touched $60,000 in February before rebounding, meaning it has already grazed the upper edge of what Munster considers a probable bottoming zone.

That gap — between where Bitcoin trades now and where his remaining metrics fully trigger — might seem like a reason for caution.

Munster argues it isn’t. In the last bear market, the difference between buying at $19,000 and catching the ultimate bottom at $15,600 proved negligible for anyone who held over multiple years. His advice now is the same: scale in gradually rather than wait for the perfect entry.

While a floor isn’t guaranteed, “the majority of the drawdown appears to be behind us, and the asymmetry is shifting,” he said, adding that a potential turnaround could come about mid-year. On Friday, Bitcoin was up about 2.4% to trade around $71,800 shortly after noon in New York. 

The measure already flashing is the so-called MVRV Z-Score, which signals when Bitcoin trades above or below its on-chain cost basis. When it falls below 0.4, the coin has tended to trade at undervalued levels. Today it sits at roughly 0.38. The other indicators aren’t there yet. 

Realized price — the average price at which each Bitcoin last moved on-chain — currently stands near $54,000.

The 200-week moving average, a support level that has helped mark lows in prior cycles, is around $58,000. And the pattern of diminishing peak-to-trough drawdowns — often seen as a sign that the asset class is maturing as liquidity and participation deepen — suggests a potential bottom between $45,000 and $55,000. 

Together, the four point to what Munster calls “a high-probability accumulation zone between approximately $45,000 and $60,000.”

Even if selling fades, a sustained recovery needs fresh demand — and there are early signs it’s arriving. US-listed spot Bitcoin exchange-traded funds have been attracting cash once more following months of withdrawals.

More than $1.6 billion has come into funds including BlackRock’s IBIT and VanEck’s HODL over the past month, data compiled by Bloomberg show. “Once selling pressure fades, even modest new inflows can move the market,” Munster said.

It’s welcome news to Bitcoin bulls who have been battered for months. The largest cryptocurrency dropped from more than $126,000 after an early October crash that rattled retail traders and dampened optimism about crypto-friendly policy shifts under the Trump administration. Other smaller tokens have suffered even worse.

Determining a bottom is never an exact science, and bear markets can grind on even when technical signals suggest otherwise. Still, Munster says Bitcoin offers a more asymmetric opportunity to the upside than the downside — and that trying to time the final few percentage points of a decline usually means missing the broader move.

“Over the long run, investors who accumulate during periods like this are typically rewarded even if they don’t catch the exact bottom,” he said. 

More stories like this are available on bloomberg.com

Published on March 14, 2026