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

17 Mar 2026

Vedanta Ltd has approved raising up to INR 2,575 crore via the issuance of unsecured, redeemable, rated, listed, non-convertible debentures, each valued at INR 1,00,000. This move is part of the company's strategy to diversify funding sources, refinance existing debt, and lower borrowing costs. Strong investor interest has marked previous offerings, including an oversubscribed USD 500 million bond last October. The company has steadily reduced net debt over the past three years and is pursuing a corporate demerger to simplify its structure and unlock value.Read more

17 Mar 2026

The Reserve Bank of India has levied an INR 3.1 lakh penalty on Cashfree Payments India Pvt Ltd for non-compliance with regulatory directives. The inspection covered the period from April 2024 to June 2025, and the penalty followed an initial notice and confirmation of violations. The RBI noted that the action addresses deficiencies in statutory and regulatory compliance, without challenging the validity of transactions with customers. Cashfree failed to follow specific guidelines for payment aggregators and gateways, and the penalty was applied under powers provided by the Payment and Settlement Systems Act, 2007.Read more

17 Mar 2026

The World Bank has agreed to provide USD 300 million to support Uttar Pradesh's Clean Air Plan, aiming to improve air quality while creating jobs for youth and women. The UP Clean Air Management Program will focus on transport, agriculture, and industry, installing nearly 200 new air quality monitors and transitioning over 700 brick kilns to efficient technology. The initiative will also provide clean cooking solutions to 3.9 million households and promote efficient fertiliser use among farmers. The programme leverages around USD 150 million in private investment, contributing to both economic growth and environmental sustainability.Read more

17 Mar 2026

Brigade Enterprises Ltd announced that its flexible workspace brand BuzzWorks has leased office space in Hyderabad to MyComplianceOffice. The deal adds another enterprise client to BuzzWorks managed office portfolio in the city's growing commercial market. BuzzWorks operates as Brigade's managed and flexible workspace platform, catering to corporates seeking ready-to-move office environments. The transaction reflects continued demand for managed offices from global firms expanding their presence in India. Brigade Group has been steadily scaling its flexible workspace segment, particularly in major technology hubs such as Hyderabad, Bengaluru and Chennai, as companies increasingly prefer plug-and-play workspaces.Read more