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RBI Imposes Over Rs 2 Crore Penalties on UBI,Central Bank, BoI, Pine Labs for Regulatory ViolationsIn March 2026, the Reserve Bank of India (RBI) imposed monetary penalties exceeding Rs 2 crore on Union Bank of India (UBI), Central Bank of India, Bank of India (BoI) and Pine Labs Limited for non-compliance with regulatory directions.Key Details:Legal Provision: The penalties were imposed under Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949.Individual Fines: The RBI imposed a penalty of Rs 95.40 lakh on Union Bank of India (UBI), Rs 63.60 lakh on Central Bank of India, Rs 58.50 lakh on Bank of India (BoI), and Rs 3.10 lakh on Pine Labs Limited.
RBI Imposes Over Rs 2 Crore Penalties on UBI,Central Bank, BoI, Pine Labs for Regulatory ViolationsIn March 2026, the Reserve Bank of India (RBI) imposed monetary penalties exceeding Rs 2 crore on Union Bank of India (UBI), Central Bank of India, Bank of India (BoI) and Pine Labs Limited for non-compliance with regulatory directions.Key Details:Legal Provision: The penalties were imposed under Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949.Individual Fines: The RBI imposed a penalty of Rs 95.40 lakh on Union Bank of India (UBI), Rs 63.60 lakh on Central Bank of India, Rs 58.50 lakh on Bank of India (BoI), and Rs 3.10 lakh on Pine Labs Limited.
RBI Imposes Over Rs 2 Crore Penalties on UBI,Central Bank, BoI, Pine Labs for Regulatory ViolationsIn March 2026, the Reserve Bank of India (RBI) imposed monetary penalties exceeding Rs 2 crore on Union Bank of India (UBI), Central Bank of India, Ba...
UN Launches Task Force to Safeguard Strait of Hormuz TradeIn March 2026, Antonio Guterres, Secretary-General of the United Nations (UN), announced the formation of a dedicated task force to address challenges arising from disruptions in the Strait of Hormuz due to the West Asia conflict.The newly formed task force will be led by Jorge Moreira da Silva, the Executive Director (ED) of the United Nations Office for Project Services (UNOPS).About Task Force:Composition: Apart from the Chairperson, the task force will comprise representatives from key international organisations, including the UN Conference on Trade and Development (UNCTAD), International Maritime Organization (IMO), and the International Chamber of Commerce (ICC).Key Functions: The task force has been mandated to develop and propose technical mechanisms specifically designed to meet humanitarian needs in the Strait of Hormuz.Political Management: Further, UN Secretary-General’s Personal Envoy Jean Arnault will lead the political management with relevant member states, backed by the task force.
UN Launches Task Force to Safeguard Strait of Hormuz TradeIn March 2026, Antonio Guterres, Secretary-General of the United Nations (UN), announced the formation of a dedicated task force to address challenges arising from disruptions in the Strait of Hormuz due to the West Asia conflict.The newly formed task force will be led by Jorge Moreira da Silva, the Executive Director (ED) of the United Nations Office for Project Services (UNOPS).About Task Force:Composition: Apart from the Chairperson, the task force will comprise representatives from key international organisations, including the UN Conference on Trade and Development (UNCTAD), International Maritime Organization (IMO), and the International Chamber of Commerce (ICC).Key Functions: The task force has been mandated to develop and propose technical mechanisms specifically designed to meet humanitarian needs in the Strait of Hormuz.Political Management: Further, UN Secretary-General’s Personal Envoy Jean Arnault will lead the political management with relevant member states, backed by the task force.
UN Launches Task Force to Safeguard Strait of Hormuz TradeIn March 2026, Antonio Guterres, Secretary-General of the United Nations (UN), announced the formation of a dedicated task force to address challenges arising from disruptions in the Strait of...
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Delhi Govt Signs MoU with Prasar Bharati to Develop Capital as Media Hub In March 2026, Delhi Tourism and Transportation Development Corporation (DTTC) of Delhi Government, signed a Memorandum of Understanding (MoU) with Prasar Bharati, an autonomous statutory body under the Ministry of Information & Broadcasting (MIB), to develop Delhi, the national capital of India, as a major hub for the media and entertainment industry.The MoU was signed at the Bharat Mandapam in New Delhi, Delhi, on the sidelines of the International Film Festival Delhi (IFFD).Key Details:Key Objective: The initiative aims to develop a state-of-the-art integrated film, television, and media hub, bringing together film production, Television (TV), and Animation, Visual Effects, Gaming and Comics (AVGC) on a unified platform.Key Features: The proposed project will include the development of modern studios, post-production facilities, and AVGC hubs, with a main focus on skill development, training and innovation.Committee: The MoU includes the setting up of a joint coordination committee, comprising representatives from both entities, to oversee planning, financing, and implementation of the project.
Delhi Govt Signs MoU with Prasar Bharati to Develop Capital as Media Hub In March 2026, Delhi Tourism and Transportation Development Corporation (DTTC) of Delhi Government, signed a Memorandum of Understanding (MoU) with Prasar Bharati, an autonomous statutory body under the Ministry of Information & Broadcasting (MIB), to develop Delhi, the national capital of India, as a major hub for the media and entertainment industry.The MoU was signed at the Bharat Mandapam in New Delhi, Delhi, on the sidelines of the International Film Festival Delhi (IFFD).Key Details:Key Objective: The initiative aims to develop a state-of-the-art integrated film, television, and media hub, bringing together film production, Television (TV), and Animation, Visual Effects, Gaming and Comics (AVGC) on a unified platform.Key Features: The proposed project will include the development of modern studios, post-production facilities, and AVGC hubs, with a main focus on skill development, training and innovation.Committee: The MoU includes the setting up of a joint coordination committee, comprising representatives from both entities, to oversee planning, financing, and implementation of the project.
Delhi Govt Signs MoU with Prasar Bharati to Develop Capital as Media Hub In March 2026, Delhi Tourism and Transportation Development Corporation (DTTC) of Delhi Government, signed a Memorandum of Understanding (MoU) with Prasar Bharati, an autonomous...
NCB and UltraTech Cement Sign MoU for Skill Development in Construction SectorIn March 2026, the National Council for Cement and Building Materials (NCB), under the Ministry of Commerce and Industry(MoC&I), signed a Memorandum of Understanding (MoU) with UltraTech Cement Limited, to strengthen skill development and capacity building in India’s construction sector.The agreement was formalised by Dr. L. P. Singh, Director General (DG), NCB and Er. Rahul Goel (Head – Technical Services, UltraTech Cement) at the NCB campus in Ballabgarh, Haryana.Key Details of MoU:Workforce Development: The initiative aims to develop a skilled workforce through structured training and certification programmes for civil engineers, Ready-Mix Concrete (RMC) professionals, contractors, construction workers, and masons, with a large number of participants to be trained over the next 3–5 years.Training: The training covers material quality testing, concrete mix proportioning, durability, and sustainable construction practices through workshops, seminars, site demonstrations, and exposure visits to cement plants and RMC facilities.Alignment: Aligns with the Skill India Mission, a flagship initiative launched by Prime Minister (PM) Narendra Modi in 2015, to meet the workforce demands of infrastructure growth.
NCB and UltraTech Cement Sign MoU for Skill Development in Construction SectorIn March 2026, the National Council for Cement and Building Materials (NCB), under the Ministry of Commerce and Industry(MoC&I), signed a Memorandum of Understanding (MoU) with UltraTech Cement Limited, to strengthen skill development and capacity building in India’s construction sector.The agreement was formalised by Dr. L. P. Singh, Director General (DG), NCB and Er. Rahul Goel (Head – Technical Services, UltraTech Cement) at the NCB campus in Ballabgarh, Haryana.Key Details of MoU:Workforce Development: The initiative aims to develop a skilled workforce through structured training and certification programmes for civil engineers, Ready-Mix Concrete (RMC) professionals, contractors, construction workers, and masons, with a large number of participants to be trained over the next 3–5 years.Training: The training covers material quality testing, concrete mix proportioning, durability, and sustainable construction practices through workshops, seminars, site demonstrations, and exposure visits to cement plants and RMC facilities.Alignment: Aligns with the Skill India Mission, a flagship initiative launched by Prime Minister (PM) Narendra Modi in 2015, to meet the workforce demands of infrastructure growth.
NCB and UltraTech Cement Sign MoU for Skill Development in Construction SectorIn March 2026, the National Council for Cement and Building Materials (NCB), under the Ministry of Commerce and Industry(MoC&I), signed a Memorandum of Understanding (MoU) ...
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APSEZ Operationalises India’s First Port of Refuge to Enhance Maritime SafetyIn March 2026, Adani Ports and Special Economic Zone Limited (APSEZ) officially operationalised India’s first Port of Refuge (PoR) to provide structured support for vessels in distress and strengthen maritime emergency infrastructure along the country’s 11,000 kilometre (km) coastline.About Port of Refuge (PoR):Definition: It is defined by the International Maritime Organization (IMO) as a designated location where ships seek shelter to stabilise conditions, protect life, and minimise environmental damage.Ports: APSEZ has designated two sites as PoR: Dighi Port on the west coast covering Arabian Sea and Persian Gulf routes, and Gopalpur Port on the east coast covering Bay of Bengal and Malacca Strait routes.Services: Emergency Support Services (ESS) include Salvage and Wreck Removal (SWR), Firefighting Capabilities (FFC), Pollution Containment (PC), and Emergency Coordination Systems (ECS) using specialised teams and equipment.Support: The initiative is supported by a tripartite Memorandum of Understanding (MoU) with SMIT Salvage (Boskalis, Netherlands) under Royal Boskalis Westminster.N.V. (RBW) and Maritime Emergency Response Centre (MERC) (Gujarat), ensuring global expertise and coordinated emergency response capability.
APSEZ Operationalises India’s First Port of Refuge to Enhance Maritime SafetyIn March 2026, Adani Ports and Special Economic Zone Limited (APSEZ) officially operationalised India’s first Port of Refuge (PoR) to provide structured support for vessels in distress and strengthen maritime emergency infrastructure along the country’s 11,000 kilometre (km) coastline.About Port of Refuge (PoR):Definition: It is defined by the International Maritime Organization (IMO) as a designated location where ships seek shelter to stabilise conditions, protect life, and minimise environmental damage.Ports: APSEZ has designated two sites as PoR: Dighi Port on the west coast covering Arabian Sea and Persian Gulf routes, and Gopalpur Port on the east coast covering Bay of Bengal and Malacca Strait routes.Services: Emergency Support Services (ESS) include Salvage and Wreck Removal (SWR), Firefighting Capabilities (FFC), Pollution Containment (PC), and Emergency Coordination Systems (ECS) using specialised teams and equipment.Support: The initiative is supported by a tripartite Memorandum of Understanding (MoU) with SMIT Salvage (Boskalis, Netherlands) under Royal Boskalis Westminster.N.V. (RBW) and Maritime Emergency Response Centre (MERC) (Gujarat), ensuring global expertise and coordinated emergency response capability.
APSEZ Operationalises India’s First Port of Refuge to Enhance Maritime SafetyIn March 2026, Adani Ports and Special Economic Zone Limited (APSEZ) officially operationalised India’s first Port of Refuge (PoR) to provide structured support for vessels ...
Meghalaya Becomes 12th state to sign MoU on reforms under JJM 2.0In March 2026, Meghalaya became the 12th state in the country to sign a Memorandum of Understanding (MoU) on reforms initiated under the Jal Jeevan Mission (JJM 2.0), representing a major step towards sustainable and service-oriented rural water supply.The MoU was formally signed by Meena Naik, Joint Secretary (Water), Department of Drinking Water and Sanitation (DDWS), Ministry of Jal Shakti (MoJS) and Praveen Bakshi, PHE, Government of Meghalaya.Key Details of MoU:Focus Areas: Decentralization of water management; empowerment of Gram Panchayats (GPs) and Village Water & Sanitation Committees (VWSCs); development of District Water and Sanitation Missions (DWSMs); and community ownership and participation in water supply systems.Sustainability and Water Conservation: The MoU emphasizes on water conservation and source sustainability, and encourages states to utilize schemes like: Mahatma Gandhi National Rural Employment Guarantee Act, 2005(MGNREGA) to bolster water resources.Key Progress: So far, Meghalaya has achieved nearly 83% rural tap water coverage under JJM.JJM: The JJM, launched by Prime Minister(PM) Narendra Modi on 15 August 2019, to provide tap water to all rural households. The MoJS has extended the deadline to December 2028 (from May 2024), with an additional outlay of Rs 1.51 lakh crore under JJM 2.0, including Rs 67,300 crore in Union Budget 2025–26 (FY26).
Meghalaya Becomes 12th state to sign MoU on reforms under JJM 2.0In March 2026, Meghalaya became the 12th state in the country to sign a Memorandum of Understanding (MoU) on reforms initiated under the Jal Jeevan Mission (JJM 2.0), representing a major step towards sustainable and service-oriented rural water supply.The MoU was formally signed by Meena Naik, Joint Secretary (Water), Department of Drinking Water and Sanitation (DDWS), Ministry of Jal Shakti (MoJS) and Praveen Bakshi, PHE, Government of Meghalaya.Key Details of MoU:Focus Areas: Decentralization of water management; empowerment of Gram Panchayats (GPs) and Village Water & Sanitation Committees (VWSCs); development of District Water and Sanitation Missions (DWSMs); and community ownership and participation in water supply systems.Sustainability and Water Conservation: The MoU emphasizes on water conservation and source sustainability, and encourages states to utilize schemes like: Mahatma Gandhi National Rural Employment Guarantee Act, 2005(MGNREGA) to bolster water resources.Key Progress: So far, Meghalaya has achieved nearly 83% rural tap water coverage under JJM.JJM: The JJM, launched by Prime Minister(PM) Narendra Modi on 15 August 2019, to provide tap water to all rural households. The MoJS has extended the deadline to December 2028 (from May 2024), with an additional outlay of Rs 1.51 lakh crore under JJM 2.0, including Rs 67,300 crore in Union Budget 2025–26 (FY26).
Meghalaya Becomes 12th state to sign MoU on reforms under JJM 2.0In March 2026, Meghalaya became the 12th state in the country to sign a Memorandum of Understanding (MoU) on reforms initiated under the Jal Jeevan Mission (JJM 2.0), representing a maj...
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India, EU Sign Aviation Pact to Boost Manufacturing, Safety StandardsIn March 2026, the Government of India (GoI) signed a working arrangement with the European Union (EU) in the field of industrial aviation production, aimed to bolster bilateral cooperation in the manufacturing sector, aligning with global safety standards.The arrangement was signed ahead of a regional aviation workshop held in New Delhi (Delhi) under the EU-South Asia Aviation Partnership Project.Key Details of MoU:Signatories: The agreement was formally exchanged between the Directorate General of Civil Aviation (DGCA) under the Ministry of Civil Aviation (MoCA) and the European Union Aviation Safety Agency (EASA).Key Projects: The new working arrangement will facilitate projects like: the assembly of Airbus Helicopters H125/AS350 helicopters in Bengaluru(Karnataka).
India, EU Sign Aviation Pact to Boost Manufacturing, Safety StandardsIn March 2026, the Government of India (GoI) signed a working arrangement with the European Union (EU) in the field of industrial aviation production, aimed to bolster bilateral cooperation in the manufacturing sector, aligning with global safety standards.The arrangement was signed ahead of a regional aviation workshop held in New Delhi (Delhi) under the EU-South Asia Aviation Partnership Project.Key Details of MoU:Signatories: The agreement was formally exchanged between the Directorate General of Civil Aviation (DGCA) under the Ministry of Civil Aviation (MoCA) and the European Union Aviation Safety Agency (EASA).Key Projects: The new working arrangement will facilitate projects like: the assembly of Airbus Helicopters H125/AS350 helicopters in Bengaluru(Karnataka).
India, EU Sign Aviation Pact to Boost Manufacturing, Safety StandardsIn March 2026, the Government of India (GoI) signed a working arrangement with the European Union (EU) in the field of industrial aviation production, aimed to bolster bilateral coo...
DPIIT Signs MoUs with KRAFTON & Repos Energy to Boost Startup Ecosystem in Digital Entertainment & Deep-TechIn March 2026, the Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and Industry (MoC&I) signed Memorandums of Understanding (MoUs) with KRAFTON India Private Limited and Repos Energy India Private Limited to support startups, innovators, and entrepreneurs across India, with a focus on digital entertainment, gaming, and deep-tech sectors.DPIIT and KRAFTON Sign MoU:In March 2026, the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry (MoC&I), signed a Memorandum of Understanding (MoU) with KRAFTON India Private Limited to support startups, innovators, and entrepreneurs across India.The partnership aims to foster innovation in emerging technology domains, particularly digital entertainment, online gaming, Esports (electronic sports), interactive media, and Artificial Intelligence (AI).DPIIT Inks MoU with Fuel-tech firm Repos Energy:In March 2026, the DPIIT also signed a MoU with Repos Energy, a deep fuel-tech platform, to develop and promote a robust technology ecosystem by supporting startups, innovators, and entrepreneurs in India.Under the MoU, the collaboration will provide structured support to startups in manufacturing and deep-tech sectors, including co-hosting innovation challenges and hackathons, organising investor connect programmes, skill development initiatives, and facilitating pilot opportunities and market access.
DPIIT Signs MoUs with KRAFTON & Repos Energy to Boost Startup Ecosystem in Digital Entertainment & Deep-TechIn March 2026, the Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and Industry (MoC&I) signed Memorandums of Understanding (MoUs) with KRAFTON India Private Limited and Repos Energy India Private Limited to support startups, innovators, and entrepreneurs across India, with a focus on digital entertainment, gaming, and deep-tech sectors.DPIIT and KRAFTON Sign MoU:In March 2026, the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry (MoC&I), signed a Memorandum of Understanding (MoU) with KRAFTON India Private Limited to support startups, innovators, and entrepreneurs across India.The partnership aims to foster innovation in emerging technology domains, particularly digital entertainment, online gaming, Esports (electronic sports), interactive media, and Artificial Intelligence (AI).DPIIT Inks MoU with Fuel-tech firm Repos Energy:In March 2026, the DPIIT also signed a MoU with Repos Energy, a deep fuel-tech platform, to develop and promote a robust technology ecosystem by supporting startups, innovators, and entrepreneurs in India.Under the MoU, the collaboration will provide structured support to startups in manufacturing and deep-tech sectors, including co-hosting innovation challenges and hackathons, organising investor connect programmes, skill development initiatives, and facilitating pilot opportunities and market access.
DPIIT Signs MoUs with KRAFTON & Repos Energy to Boost Startup Ecosystem in Digital Entertainment & Deep-TechIn March 2026, the Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and Industry (MoC&I) signed ...
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MoD Signs Contracts Worth Rs. 858 Crore to Strengthen Defence Capabilities of IA and INIn March 2026, the Ministry of Defence (MoD) signed two contracts worth Rs. 858 crores with Russia and the United States of America (USA) based companies to procure advanced air defence systems for the Indian Army (IA) and maintain maritime reconnaissance aircraft for the Indian Navy (IN), strengthening India’s military capabilities and reinforcing defence ties.Key Detail of Contracts:Tunguska Air Defence Missile System: A Rs.445 crore contract by the Ministry of Defence (MoD) with JSC Rosoboronexport, Russia, enables acquisition of Tunguska Air Defence Missile Systems to strengthen capabilities.P-8I Aircraft Maintenance: A Rs.413 crore contract by the Ministry of Defence (MoD) with Boeing India Defense Private Limited (BDI), USA, covers Depot-Level Inspection (DLI) of P-8I Long-Range Maritime Reconnaissance (LRMR) aircraft.Defence Proposals: The Defence Acquisition Council (DAC), chaired by Union Minister Rajnath Singh, Ministry of Defence (MoD), granted Acceptance of Necessity (AoN) for various defence procurement proposals worth approximately Rs 2.38 lakh crore, aimed at enhancing the operational capabilities of the IA, Indian Air Force (IAF), and Indian Coast Guard (ICG).
MoD Signs Contracts Worth Rs. 858 Crore to Strengthen Defence Capabilities of IA and INIn March 2026, the Ministry of Defence (MoD) signed two contracts worth Rs. 858 crores with Russia and the United States of America (USA) based companies to procure advanced air defence systems for the Indian Army (IA) and maintain maritime reconnaissance aircraft for the Indian Navy (IN), strengthening India’s military capabilities and reinforcing defence ties.Key Detail of Contracts:Tunguska Air Defence Missile System: A Rs.445 crore contract by the Ministry of Defence (MoD) with JSC Rosoboronexport, Russia, enables acquisition of Tunguska Air Defence Missile Systems to strengthen capabilities.P-8I Aircraft Maintenance: A Rs.413 crore contract by the Ministry of Defence (MoD) with Boeing India Defense Private Limited (BDI), USA, covers Depot-Level Inspection (DLI) of P-8I Long-Range Maritime Reconnaissance (LRMR) aircraft.Defence Proposals: The Defence Acquisition Council (DAC), chaired by Union Minister Rajnath Singh, Ministry of Defence (MoD), granted Acceptance of Necessity (AoN) for various defence procurement proposals worth approximately Rs 2.38 lakh crore, aimed at enhancing the operational capabilities of the IA, Indian Air Force (IAF), and Indian Coast Guard (ICG).
MoD Signs Contracts Worth Rs. 858 Crore to Strengthen Defence Capabilities of IA and INIn March 2026, the Ministry of Defence (MoD) signed two contracts worth Rs. 858 crores with Russia and the United States of America (USA) based companies to procur...
India’s First Hydrogen Train Completes Successful Oscillation TrialsIn March 2026, Union Minister Ashwini Vaishnaw, Ministry of Railways (MoR) announced the successful completion of the oscillation trials for India’s first hydrogen-powered trainset.Key Details of Test Trial:Conducted by: The test was conducted by the Research Designs and Standards Organisation (RDSO) as part of the evaluation process.Route: As per MoR, India’s first hydrogen-powered train will run between Jind and Sonipat in Haryana.Manufacturer: The train is developed by Chennai(Tamil Nadu, TN)-based Integral Coach Factory (ICF).Key Accomplishments: During the oscillation trial, the hydrogen train covered a total distance of 20 kilometres (kms) with a maximum speed of 70 km per hour (kmph) on the railway track.
India’s First Hydrogen Train Completes Successful Oscillation TrialsIn March 2026, Union Minister Ashwini Vaishnaw, Ministry of Railways (MoR) announced the successful completion of the oscillation trials for India’s first hydrogen-powered trainset.Key Details of Test Trial:Conducted by: The test was conducted by the Research Designs and Standards Organisation (RDSO) as part of the evaluation process.Route: As per MoR, India’s first hydrogen-powered train will run between Jind and Sonipat in Haryana.Manufacturer: The train is developed by Chennai(Tamil Nadu, TN)-based Integral Coach Factory (ICF).Key Accomplishments: During the oscillation trial, the hydrogen train covered a total distance of 20 kilometres (kms) with a maximum speed of 70 km per hour (kmph) on the railway track.
India’s First Hydrogen Train Completes Successful Oscillation TrialsIn March 2026, Union Minister Ashwini Vaishnaw, Ministry of Railways (MoR) announced the successful completion of the oscillation trials for India’s first hydrogen-powered trainset....
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