18 Mar 2026

Over the past 11 financial years, banks in India have written off loans totaling nearly INR 9.75 lakh crore, with the highest write-off recorded in FY20 at INR 1.59 lakh crore. The figures have gradually decreased, reaching INR 47,568 crore in FY25. While these write-offs follow RBI guidelines and bank board approvals, they do not absolve borrowers of their liabilities. Recovery efforts continue on these accounts through multiple legal and recovery mechanisms, and banks remain active in pursuing repayment from borrowers despite the write-offs.Read more

18 Mar 2026

Union Bank of India has received board approval to raise INR 20,000 crore through the issuance of long-term infrastructure bonds. The fund-raising initiative aims to support infrastructure development and affordable housing projects. Of this, the bank may target INR 7,500 crore through bonds with a 10-year tenor before the end of the current financial year. Additionally, the board approved the launch of green or sustainable bonds up to INR 5,000 crore. This move reflects the bank's focus on sustainable growth and development funding in key sectors.Read more

18 Mar 2026

Tripura's Finance Minister, Pranajit Singha Roy, presented a tax-free budget of INR 34,212.31 crore for FY 2026-27, marking a 5.52% increase over last year. The budget anticipates a deficit of INR 240.72 crore while prioritising capital expenditure, projected at INR 8,945.92 crore, to boost infrastructure and employment. Key initiatives include digital transformation, rural development, and the establishment of a technical university, medical university, and women's university. Around INR 15,000 crore has been earmarked for tribal welfare, reflecting an inclusive approach despite resource constraints.Read more

18 Mar 2026

Ezeefit Office Systems, part of Ezeefit Modular Furniture Pvt. Ltd., has introduced a dedicated e-commerce vertical, Modular Furniture Store, offering factory-direct modular office furniture across India. Designed for the modern hybrid workforce, the platform provides reconfigurable workstations, privacy booths, and storage systems that can be quickly assembled without on-site carpentry. Featuring ergonomic design, integrated power modules, and advanced cable management, the store emphasizes efficiency and flexibility. The initiative combines Ezeefit's manufacturing expertise with AI-driven digital tools, enabling businesses to plan, customize, and set up professional offices in hours rather than months.Read more

18 Mar 2026

PNB Housing Finance has joined hands with India Mortgage Guarantee Corporation (IMGC) to enhance access to home loans for the affordable housing sector. Through this collaboration, PNB Housing will provide loans backed by IMGC's mortgage guarantee solutions, supported by a First Loss Default Guarantee structure. The move aims to help first-time and deserving homebuyers who may not qualify for traditional financing. IMGC has previously facilitated mortgage guarantees for over INR 44,000 crore, assisting more than 1,70,000 households across India. The partnership strengthens risk-sharing measures while promoting responsible housing finance.Read more

Mumbai News Desk

18 Mar 2026

The Mumbai Metropolitan Region Development Authority's attempt to lease a prime commercial plot in the Wadala Notified Area did not receive any bids despite strong development potential. The 10,860 sq m land parcel was offered on an 80-year lease with a reserve price of INR 1,629 crore and a permissible FSI of 10, allowing large-scale commercial development. The authority had extended the submission deadline twice to encourage participation, but the tender closed without response. The plot forms part of the broader plan to develop Wadala as a future commercial district similar to Bandra-Kurla Complex.Read more

Patna News Desk

18 Mar 2026

The Patna Municipal Corporation (PMC) successfully recovered nearly INR 1 crore in property taxes from high-value defaulters in just two days through a concentrated enforcement drive. A six-member field team visited multiple city wards targeting property owners with dues exceeding INR 50,000. Measures included freezing bank accounts, prohibiting property sales, and seizing properties for noncompliance. Defaulters were notified via SMS and offered a one-time settlement scheme with interest and penalty waivers until the end of the month. The drive reflects PMC's continued focus on strengthening revenue collection and ensuring civic financial discipline.Read more

18 Mar 2026

The Uttar Pradesh Stamp and Registration Department has launched a comprehensive campaign to increase revenue before the financial year ends. The initiative prioritises registering unregistered properties under development authorities, government bodies, and housing councils, while clearing pending cases and recovering outstanding stamp duties. Projects in Gautam Budh Nagar, Meerut, Ghaziabad, Bareilly, Moradabad, Varanasi, and Gorakhpur are expected to contribute significantly. The department is also updating minimum property values and reviewing legal and infrastructure-linked cases to ensure timely collection and improved compliance.Read more

17 Mar 2026

The Thane Municipal Corporation (TMC) has introduced a scheme granting 90% relief on penalties for property tax defaulters, allowing them to pay only 10% of the penalty amount along with their pending taxes. This initiative aims to improve tax recovery ahead of the fiscal year-end, addressing arrears of around INR 308 crore, with penalties totaling INR 191 crore. Residents can pay online, at ward offices, or through a new WhatsApp and chatbot system. While it may ease financial burdens on defaulters, some on-time taxpayers have raised concerns about fairness.Read more

17 Mar 2026

The Reserve Bank of India has announced a seven-day variable rate repo auction worth INR 1.5 lakh crore, scheduled for the coming week, with funds set to reverse after seven days. This move comes amid a surplus liquidity of around INR 2.08 lakh crore in the banking system. Since January 2026, the RBI has injected INR 3.5 lakh crore through open market operations. The central bank's continuous liquidity support aims to maintain stable overnight rates and ease pressures from upcoming tax outflows, including advance tax and GST.Read more