Iranian warship IRIS Lavan docks at Cochin Port after technical issues

by Hansraj Agrawal | Mar 6, 2026 | Business

A Sri Lanka Navy vessel approaches an Iranian vessel during a rescue operation, a day after the crew of a distressed Iranian military ship, IRIS Dena were assisted in waters south of Sri Lanka, off the coast of Colombo, Sri Lanka March 5, 2026. (A representative image)
| Photo Credit:
SRI LANKAN NAVY

An Iranian warship, IRIS Lavan, has been permitted to dock at Cochin Port after the vessel reported technical problems while operating in the region.

Government sources said the ship, carrying 183 crew members, requested permission on February 28 to enter the port for repairs. The request was approved on March 1, and the vessel anchored at the port on March 4. The crew members have been provided accommodation at nearby naval facilities.

Sources said that the development comes days after the incident involving the Iranian warship IRIS Dena south of Sri Lanka. IRIS Lavan was also present in the region around the same time.

The development comes amid rising tensions in the Indian Ocean region following reports that the United States sank the Iranian warship IRIS Dena near Sri Lanka after it was reportedly struck by a torpedo fired from a US submarine.

Published on March 6, 2026

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West Asia conflict: Rupee ends week 77 paise weaker

by Hansraj Agrawal | Mar 6, 2026 | Business

Rupee closed the week ended March 6 (Friday), 2027, at 91.74 per US dollar.

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

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SAT partly allows Kotak AMC appeal, upholds SEBI penalties in Essel FMP case

by Hansraj Agrawal | Mar 6, 2026 | Business

The case involved investments in zero-coupon debentures of Essel-linked firms backed by Zee Entertainment shares

The Securities Appellate Tribunal (SAT) has partly allowed an appeal filed by Kotak Mahindra Asset Management Company (Kotak AMC) in a case related to investments by its fixed maturity plans (FMPs) in Essel Group-linked entities, while upholding penalties imposed by the market regulator.

In an order dated March 6, the tribunal set aside a direction issued by the Securities and Exchange Board of India (SEBI) requiring Kotak AMC to disgorge a portion of the investment management and advisory fees collected from investors in six FMP schemes. However, it upheld findings of regulatory lapses and dismissed a separate appeal challenging monetary penalties imposed on the asset manager, its trustee company and certain officials.

The case relates to investments made by Kotak Mutual Fund’s six closed-ended FMPs in zero-coupon non-convertible debentures issued by Essel Group-linked firms Konti Infrapower & Multiventures and Edison Utility Works. The investments were backed by pledged shares of Zee Entertainment Enterprises, part of the Essel Group.

The tribunal held that the fund house had failed to exercise adequate due diligence while making the investments, noting that the decisions were largely based on the reputation of the Essel Group and the pledged shares rather than the financial strength of the issuer entities.

SAT also observed that Kotak AMC delayed informing investors about adverse developments after the share price of Zee Entertainment fell sharply in January 2019, reducing the value of the pledged collateral.

However, the tribunal found that SEBI’s direction to disgorge management fees was not justified because investors ultimately received their full dues with interest, and no “wrongful gain” by the asset manager had been established.

“Investors repose trust in mutual fund companies and invest their hard-earned money,” the tribunal said, adding that the lapses in due diligence and delayed disclosures warranted regulatory penalties.

While setting aside the disgorgement order, SAT upheld the penalties imposed by SEBI on the fund house and its officials, including managing director Nilesh Shah. The tribunal also granted an eight-week extension of the stay on penalties to allow the appellants to approach the Supreme Court.

A Kotak AMC spokesperson said it will carefully review the detailed judgment once it becomes available. It said there was no impact on the existing schemes or unit holders of the AMC.

Published on March 6, 2026

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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

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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

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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

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