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NHAI-backed Raajmarg Infra InvIT IPO subscribed 13.7 times

NHAI-backed Raajmarg Infra InvIT IPO subscribed 13.7 times

by | Mar 13, 2026 | Business


The initial public offering of National Highways Authority of India-sponsored Raajmarg Infra Investment Trust was subscribed 13.74 times at the end of Friday. The ₹6,000-crore IPO received bids for 293.15 crore units against 21.33 crore units on offer, as per NSE data. The InvIT’s IPO price has been fixed at ₹99-100 per unit.

The portion for institutional investors received 19.14 times while non-institution portion received bids for 7.26 times.

Anchor investors

Ahead of the IPO, Raajmarg Infra Investment Trust (RIIT) mopped up ₹1,728 crore from anchor investors, who included LIC, ICICI Prudential Life Insurance, Kotak Mahindra Life Insurance and Bajaj Life Insurance.

The public InvIT aims to unlock the monetisation potential of the National Highway assets while creating a high-quality, long-term investment instrument primarily targeting retail and domestic investors.

The InvIT proposes an initial portfolio of five toll roads in Jharkhand, Andhra Pradesh, Tamil Nadu, and Karnataka, operating under the Toll-Operate-Transfer model based on concessions granted by the NHAI to the project SPV.

The toll roads consist of five toll roads spanning over 260 km, forming part of the Golden Quadrilateral project.

Published on March 13, 2026



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Health Ministry approves perpetual validity for FSSAI licences, removes dual licensing norm for street food vendors

Health Ministry approves perpetual validity for FSSAI licences, removes dual licensing norm for street food vendors

by | Mar 13, 2026 | Business


Street food vendors registered with Municipal Corporations or Town Vending Committees under the Street Vendors’ Act, 2014 will be considered as deemed registered under FSSAI.
| Photo Credit:
SUPRABHAT DUTTA

The Ministry of Health and Family Welfare has approved the proposal for perpetual validity of registrations and licences obtained by businesses from the Food Safety and Standards Authority of India (FSSAI) to promote ease of doing business. This is among a series of comprehensive regulatory and procedural reforms approved by the Ministry following detailed deliberations with stakeholders and are aligned with the recommendations of the High-Level Committee on Non-Financial Regulatory Reforms constituted by the NITI Aayog.

Earlier, registrations and licences had to be renewed periodically. Under the revised framework, registrations and licences will have perpetual validity, eliminating the need for repeated renewals. “This reform will substantially reduce compliance costs, paperwork and the need for repeated interaction with licensing authorities for food business operators (FBOs), while improving continuity of operations. It will enable regulatory resources to focus more effectively on enforcement, monitoring and capacity-building activities,” an official statement said.

Meanwhile, effective April 1, the turnover threshold for registration will be increased from ₹12 lakhs to ₹1.5 crore, and for State licensing up to ₹50 crore, with Central licensing applicable beyond this limit. “This rationalisation is intended to empower and strengthen the role of State authorities by enabling them to focus more effectively on oversight, facilitation and enforcement of food safety regulations within their jurisdictions,” the statement added.

This wil lead to simpler compliance requirements, reduced paperwork and fees, elimination of pre-inspection, and instant registration for food business operators.

Dual compliance requirements

In a bid to address dual compliance requirements, street food vendors registered with Municipal Corporations or Town Vending Committees under the Street Vendors’ (Protection of Livelihood and Regulation of Street Vending) Act, 2014 will be considered as deemed registered under FSSAI, the statement added. This measure will benefit more than 10 lakh street food vendors by eliminating the requirement for multiple registrations across departments. “The reform will significantly reduce the compliance burden and enable street food vendors to focus on their livelihood, hygiene and business operations,” it added.

A technology-enabled, dynamic risk-based inspection framework has also been put in place to incentivise compliant food business operators and reduce repetitive inspections. Inspections will be carried out based on defined risk factors such as risk associated with the nature of food commodity, past compliance record of the food business operator, performance during third-party audits, and inputs from enforcement and surveillance activities. This will ensure focused and transparent regulatory oversight, while reducing unnecessary compliance burden on compliant businesses.

Published on March 13, 2026



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Banks’ log robust growth in deposits and advances in Feb-end fortnight

Banks’ log robust growth in deposits and advances in Feb-end fortnight

by | Mar 13, 2026 | Business


As at February-end 2026, credit growth and deposit growth stood at 15.19 per cent and 13.03 per cent, respectively.
| Photo Credit:
Andrii Yalanskyi

Banks have logged a robust growth in deposits and advances in the fortnight ended February 28, 2026, reversing the declining trend of the preceding fortnight.

In the reporting fortnight, deposits and advances of all Scheduled Banks jumped ₹4,20,091 crore and ₹3,24,432 crore, respectively, per RBI’s Scheduled Banks’ Statement of Position in India.

In the preceding fortnight, deposits and advances of all Scheduled Banks had declined ₹1,03,192 crore and ₹35,440 crore, respectively.

Madan Sabnavis, Chief Economist, Bank of Baroda, observed that since the equity markets are not doing well, reverse migration of funds into deposits is happening. Further, Banks are raising bulk deposits to support credit growth.

He attributed the pick up credit to the corporate loan sanctions pipeline actually materialising.

Sanjay Agarwal, Senior Director, CareEdge Ratings, noted that with yields in the bond markets hardening, India Inc is finding borrowing from Banks relatively cheaper.

Banking expert V Viswanathan noted that deposit accretion during the reporting fortnight is divided between CASA (current account, savings account) and term deposits almost equally.

“When it comes to the increase in CASA deposits, States, where elections are due this year, could have seen increased spending by Governments before the election date is announced.

“Another reason for increase in CASA and term deposits is that the money withdrawn from stocks and mutual funds is finding its way to banks as deposits under both categories. Increase in Certificates of Deposit for credit deployment might have also contributed to Term Deposit increase,” he said.

In respect of advances, Viswanathan said the increase in corporate advances, which were committed/ sanctioned earlier might have been extended by banks. Retail credit could not have contributed to such an increase in overall credit in a fortnight.

Credit growth continues to surpass deposit growth on year-on-year basis. As at February-end 2026, credit growth and deposit growth stood at 15.19 per cent and 13.03 per cent, respectively.

Published on March 13, 2026



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Markets log worst weekly rout in 15 months as war clouds darken

Markets log worst weekly rout in 15 months as war clouds darken

by | Mar 13, 2026 | Business


Markets capped their worst week in over 15 months on Friday, with investors losing approximately ₹20 lakh crore in market capitalisation across five sessions as the US-Iran conflict drove crude oil past $100 per barrel and pushed the rupee to an all-time low.

The BSE Sensex plunged 1,470.50 points, or 1.93 per cent, to close at 74,563.92, while the Nifty 50 fell 488.05 points, or 2.06 per cent, to settle at 23,151.10 — a fresh 10-month low. The BSE market cap dropped to ₹430.02 lakh crore on Friday alone, a single-session wipe-out of ₹9.70 lakh crore. For the week, the Sensex shed 7,375 points, or 5.5 per cent, and the Nifty lost 1,300 points, or 5.3 per cent — marking Nifty’s worst monthly fall since the pandemic crash of March 2020.

Sectoral damage was sweeping. Nifty Bank fell 7 per cent; Nifty Auto plunged over 10.5 per cent, its worst weekly performance since March 2020; Nifty Midcap shed 4.6 per cent; and Nifty SmallCap declined 3.65 per cent. On the BSE, 3,439 stocks declined against just 858 advances; 563 stocks hit 52-week lows. Friday’s Nifty 50 had only three gainers: Tata Consumer Products (+2.29 per cent to ₹1,082), HUL (+1.17 per cent to ₹2,161.80), and Bharti Airtel (+0.09 per cent to ₹1,803). Losers were led by L&T (-7.38 per cent to ₹3,445), Hindalco (-6.07 per cent to ₹910.90), Tata Steel (-5.41 per cent to ₹183.01), JSW Steel (-4.49 per cent to ₹1,120), and Grasim (-3.86 per cent to ₹2,570).

Three developments shook the markets. The Strait of Hormuz closure sent Brent crude surging, a critical blow for India, which imports nearly 88 per cent of its oil. The rupee hit an all-time low of ₹92.48 per dollar amid relentless FII outflows, even as the RBI intervened by selling dollars. The Trump administration’s trade investigation into India has added a third layer of uncertainty. The India VIX climbed above 22, up over 13 per cent for the week.

Vikram Kasat, Head Advisory at PL Capital, said the selloff appeared more sentiment-driven than fundamental. …”The correction appears more sentiment-driven rather than a reflection of weakening domestic fundamentals. Any meaningful correction should be seen as an opportunity for long-term investors to gradually accumulate quality large-caps and sector leaders with strong earnings visibility.”…

Dilip Parmar, Senior Research Analyst at HDFC Securities, pointed out that the rupee’s pressure isn’t going away soon. …”Surging global crude oil prices and sustained foreign fund outflows amid heightened risk aversion have kept the rupee under significant pressure,”… with immediate resistance seen at 92.50–92.70.

N. ArunaGiri, CEO of TrustLine Holdings, noted that history suggests the worst may be close. …”Almost without exception, in most crises, the bulk of the price damage tends to happen within the first few days of the outbreak of the conflict.”… He advised a selective, gradual approach to deploying capital in the broader markets.

Technically, the Nifty’s 14-period RSI has slipped to around 24, deep in oversold territory. Nagaraj Shetti of HDFC Securities warned that without a bounce from near 22,900 next week, further weakness toward 22,500–22,000 cannot be ruled out. Immediate resistance sits at 23,500. Amol Athawale of Kotak Securities added that the weak formation is likely to persist below 23,400 on the Nifty and 75,000 on the Sensex, with potential downside toward 22,800 and 73,600, respectively. The market direction next week will hinge on US-Iran developments, crude oil trajectory, and the pace of FII outflows — with the rupee and Bank Nifty’s 53,500 support the two key levels to watch.

Published on March 13, 2026



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Technology adoption and improved seed varieties boost India’s wheat & rice production

Technology adoption and improved seed varieties boost India’s wheat & rice production

by | Mar 13, 2026 | Business


India’s wheat and rice production has increased over the last five years due to the adoption of various production and protection technologies to address the challenges of various biotic and abiotic stresses. These include development of high-yielding climate-resilient varieties, cost-effective and efficient pre and post-harvest technologies, according to Bhagirath Choudhary, Union Minister of State for Agriculture and Farmers’ Welfare.

In a written reply to a question in the Rajya Sabha on Friday, he said India’s wheat production was estimated at 117.95 million tonnes (mt) during 2024-25, 4.65 mt higher than 113.29 mt produced in the previous year. India’s wheat production was at 109.59 lt in 2020-21.

Total rice production was estimated at 150.18 mt during 2024-25, 12.36 mt higher than 137.83 mt the previous year. India’s rice production was at 124.37 mt in 2020-21.

As of February 16, the total stock of wheat and rice available in the central pool was 24.83 mt and 35.26 mt, respectively, against foodgrain stocking norms of 13.8 mt for wheat and 7.61 mt for rice.

“The increase in the production of both wheat and rice during 2024-25 is attributed to both expanded area coverage and improved productivity during last few years. Also, the increase in production is due to adoption of developed various production and protection technologies to address the challenges of various biotic and abiotic stresses. These include development of high-yielding climate resilient varieties, cost-effective and efficient pre- and post-harvest technologies, etc,” he said.

Iran impact on exports

To a question on the impact of Iran uncertainties on Basmati rice exports, Piyush Goyal, Union Commerce and Industry Minister, said basmati exports to Iran grew in value by 11.57 per cent (in rupee terms) and by 26.1 per cent in volume terms up to January 2026, indicating healthy and steady basmati trade to Iran.

With the commencement of conflict West Asia on February 28, stakeholders, including of basmati rice, have reported disruption of maritime and air cargo routes through West Asia, increase in freight costs due to re-routing and war-risk surcharges, cargo accumulation at ports and logistics hubs, and financial stress arising from longer transit cycles.

He said the government has been closely monitoring the evolving geopolitical situation in West Asia and the Gulf region and has taken measures to reduce the impact of the disruption on India’s exports and to safeguard livelihoods.

Empowering cotton growers

To a separate question, Bhagirath Choudhary said the Cotton Corporation of India Ltd (CCI) launched a mobile application, Kapas Kisan, on September 1, 2025, to empower cotton farmers. The sale of cotton by farmers under MSP operations has been mandated through this application only. Through the app, farmers can avail facilities such as self-registration and slot booking for selling their cotton under MSP on a four-week rolling basis, thereby enhancing flexibility, reducing waiting time, and preventing congestion at procurement centres. Accordingly, CCI has been procuring cotton only through slot booking via the Kapas Kisan app. So far, about 42 lakh cotton farmers have been registered on Kapas Kisan Mobile app, he said.

Rubber imports

In a written reply to a question on rubber imports, Jitin Prasada, Union Minister of State for Commerce and Industry, said the import of natural rubber was 5,50,918 tonnes in 2024-25 as against 5,46,369 tonnes in 2021-22, with no significant increase overall in this period.

The import of natural rubber was at 3,99,535 tonnes during April-January 2025-26 against 4,85,666 tonnes during the same period of 2024-25, showing a decline of 17.73 per cent.

He said the prices of natural rubber are determined in the open market based on demand and supply. International prices also influence domestic prices. The average price of natural rubber (RSS 4 grade) has been ₹193.77 per kg in Kottayam, Kerala, during the period April to January 2025-26 compared to an average price of ₹170.77 per kg for the period 2021-22 to 2024-25.

Soil health card

To a question on soil health cards (SHCs), Bhagirath Choudhary said 1.73 crore SHCs have been issued to the farmers during 2022-23 to 2024-25.

Referring to a 2025 survey by NITI Aayog, he said SHC has contributed to correcting fertilizer imbalance (by reducing the excessive use of urea) and improving productivity. The scheme has also helped in achieving the broader objectives of integrated nutrient management. About 68.5 per cent of the surveyed farmers reported a clear improvement in soil health after using natural inputs, while 25.7 per cent of farmers reported marginal improvement, he said.

Published on March 13, 2026



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