Category: Business

Bengaluru, Mar 25: Autoverse Mobility, a leading auto parts digital distributor, providing on-time deliveries and exceptional service to garage owners and vendors, has announced a suite of new initiatives and product launches aimed at strengthening trust, improving access to genuine parts, and building future-ready capabilities across India’s rapidly evolving automotive aftermarket.

Unveiled at Motor Mechanic Day 2026, Autoverse Mobility’s flagship industry event, these initiatives underscore the company’s focus on leveraging technology, partnerships, and skill development to address long-standing challenges in the aftermarket, particularly around part authenticity, discovery of trusted service providers, and readiness for electric vehicles.

The company has introduced a first-of-its-kind warranty program enabling multi-brand garages to procure the right parts with confidence. Powered by an advanced traceability system, the program ensures that genuine parts are verified and tracked across the supply chain. It is currently live for select brands and will be expanded across the broader aftermarket ecosystem.

Additionally, to improve access to trusted service providers, the company has launched a WhatsApp-based mechanic discovery feature. This helps end customers to seamlessly connect with verified garages that use genuine parts, thereby bridging the trust gap in vehicle servicing. Customers can connect through WhatsApp on the given number – 888 499 8600.

On strengthening the after-market ecosystem, Rama Shankar Pandey, Co-founder, Autoverse Mobility said. “As vehicles become more advanced and electrified, the role of mechanics is becoming even more critical to the reliability and safety of mobility. The future of mobility will not just be defined by vehicles, but by the strength of the ecosystem that supports them. For too long, the aftermarket has operated with fragmentation, limited transparency, and unequal access to quality parts and capabilities.  By empowering mechanics with the right tools, trust, and opportunities, we are enabling a more reliable, transparent, and scalable aftermarket for India through Autoverse Mobility. Our vision is to fundamentally redefine how India services its vehicles while significantly reducing the need for heavy capex.

Talking about the new initiatives, Mihir Mohan, Founder, CEO, Autoverse Mobility said, “Through our new initiatives, we aim to strengthen an ecosystem where garages can operate with confidence and customers can rely on every repair. As mobility evolves, especially with the shift to electric, enabling mechanics with the right capabilities and access will be critical to the future of the aftermarket. Motor Mechanic Day 2026 reflects our commitment to bringing the industry together while laying the foundation for a more trusted, transparent, and future-ready automotive aftermarket in India.”

In partnership with Paracoat Products Limited, Autoverse Mobility has unveiled Pynoseal, a high-performance underbody coating solution designed to enhance vehicle durability and long-term performance.

As the industry transitions toward electric mobility, the company has also launched an EV Mechanic Certification Program to train and certify mechanics in handling electric vehicles—equipping garages with future-ready capabilities.

The event witnessed active participation from leading automotive component brands, including Sumax Industries, Lumax Auto, and Delux Bearings, showcasing their products and engaging directly with garage partners. The platform also featured Getafix, a garage management system provider, highlighting digital solutions aimed at improving workshop operations and efficiency.

During the event, Rama Shankar Pandey, Co-Founder, Autoverse Mobility, delivered a session on ‘Right to Repair’ and shared key industry insights.

New Delhi, Mar 25 (BNP): The Centre on Tuesday signed reform-linked memoranda of understanding with Andhra Pradesh and Odisha under Jal Jeevan Mission (JJM) 2.0 to strengthen sustainable and community-driven rural drinking water systems.

The agreements aim to advance structured reforms focused on transparency, accountability, and long-term sustainability of water supply services in rural areas.

Union Jal Shakti Minister C.R. Patil said the next phase of the mission will prioritise bridging infrastructure gaps, ensuring reliable water supply, and strengthening community-led management systems.

He highlighted the need for proper handover of completed schemes to local communities and emphasised women’s participation in water quality monitoring through field test kits.

The MoU with Andhra Pradesh was signed in the presence of Chief Minister N. Chandrababu Naidu, while Odisha Chief Minister Mohan Charan Majhi participated virtually during the signing of the agreement with his state.

Both states reaffirmed their commitment to achieving universal household tap water coverage and improving service delivery through community participation and sustainable operation and maintenance systems.

Officials said the reform framework includes measures to strengthen infrastructure, improve monitoring through digital platforms, and enhance citizen engagement through local committees and grievance redressal systems.

The agreements are part of the Centre’s broader push under JJM 2.0 to ensure adequate and quality drinking water supply to every rural household, aligned with the goal of long-term water security and improved living standards.

The development was announced by the Ministry of Jal Shakti in a statement.

New Delhi, Mar 25 (BNP): Capital expenditure by Central Public Sector Enterprises (CPSEs) under the Ministry of Heavy Industries rose to ₹577.41 crore in 2024–25, reflecting increased investments in new projects, expansion, and modernisation.

According to data shared in Parliament, total CapEx by these CPSEs stood at ₹340.58 crore in 2022–23 and ₹388.94 crore in 2023–24, indicating a steady upward trend over the past three financial years.

Among the CPSEs, Bharat Heavy Electricals Ltd (BHEL) accounted for the largest share of investment, with CapEx rising from ₹262 crore in 2022–23 to ₹536 crore in 2024–25.

Other enterprises, including Cement Corporation of India Ltd and Sambhar Salts Ltd, also recorded notable investments, though at a smaller scale.

The investments were primarily aimed at setting up new plants and machinery, expanding production capacity, and manufacturing new products, officials said.

Several CPSEs, however, reported relatively modest or declining capital expenditure over the period, reflecting varied operational and investment cycles across entities.

The information was provided by Minister of State for Heavy Industries Bhupathiraju Srinivasa Varma in a written reply in the Lok Sabha.

New Delhi, Mar 25 (BNP): The Reserve Bank of India (RBI) has proposed revised guidelines to strengthen safeguards against unauthorised electronic banking transactions, including a compensation mechanism for small-value frauds and enhanced use of artificial intelligence in fraud detection.

The draft instructions, released for public consultation on March 6, 2026, aim to update the existing 2017 framework in view of rapid technological adoption in banking and digital payments.

As part of efforts to curb cyber fraud, the RBI has rolled out “MuleHunter.AI”, an artificial intelligence and machine learning-based system to detect mule accounts used for illicit fund transfers. The system is currently operational in 26 banks and is being expanded further.

The central bank has also advised banks to deploy robust real-time transaction monitoring systems, adopt AI and machine learning tools to detect suspicious patterns, and use network analytics to identify mule account networks.

In a related development, the Indian Digital Payment Intelligence Corporation (IDPIC) has been set up as a Section 8 company to detect and prevent fraud in the digital payments ecosystem using advanced technologies such as AI, machine learning, and big data analytics.

Officials said the government is working closely with the RBI and other regulators to strengthen systems and controls to prevent cyber-enabled financial frauds.

The RBI has also undertaken multiple initiatives to improve financial literacy and cybersecurity awareness. These include the Centre for Financial Literacy project, under which over 2,400 centres have been set up, and nationwide campaigns such as “RBI Kehta Hai” to promote safe banking practices.

Market regulator SEBI is also running awareness initiatives, including the “SEBI vs SCAM” campaign and the Saa₹thi mobile app, to educate investors and prevent fraud.

The information was provided by Minister of State for Finance Pankaj Chaudhary in a written reply in the Rajya Sabha.

New Delhi, Mar 25 (BNP): The Department for Promotion of Industry and Internal Trade (DPIIT) has signed a memorandum of understanding with air conditioning major Blue Star Ltd to support startups and strengthen India’s manufacturing and innovation ecosystem.

The partnership aims to promote product startups working in areas such as HVAC technologies, digital solutions, advanced manufacturing, and supply chain innovation, officials said.

Under the collaboration, startups will receive mentorship from industry experts, access to R&D laboratories and testing facilities, pilot opportunities, and market linkages to help scale industry-relevant solutions.

DPIIT said the initiative will enable startups to achieve key milestones including product validation, proof-of-concept development, and integration into industry value chains.

Joint Secretary, DPIIT, Sanjiv, said the partnership would help foster industry-driven innovation by enabling startups to work on real-world challenges and scale solutions with tangible outcomes.

As part of the initiative, DPIIT and Blue Star will also explore organising innovation challenges and hackathons under the Bharat Startup Grand Challenge, focusing on HVAC, digital technologies, and manufacturing sectors.

Selected startups will be offered opportunities for pilot deployment and further engagement through structured proof-of-concept programmes.

The MoU was signed by Deputy Secretary, DPIIT, T.L.K. Singh and Managing Director of Blue Star Ltd, B. Thiagarajan, in the presence of senior officials.

Officials said the collaboration is expected to strengthen linkages between startups and industry while enhancing innovation capacity in key manufacturing sectors.

New Delhi, Mar 25 (BNP): India’s total exports of merchandise and services rose to $714.73 billion during April–January of FY 2025–26, registering a growth of 5.26 per cent over $679.02 billion in the corresponding period of the previous fiscal, the government said on Tuesday.

The data reflects continued resilience in India’s trade performance despite global uncertainties, supply chain disruptions, and volatile commodity prices.

Over the longer term, exports have shown steady growth, rising from $497.90 billion in 2020–21 to $828.25 billion in 2024–25, with a compound annual growth rate of 6.9 per cent.

The government said it is strengthening the export ecosystem through policy support, digital infrastructure, and financial incentives, with a focus on enhancing global competitiveness, especially for MSMEs.

The Foreign Trade Policy (FTP) 2023 continues to play a key role, supported by schemes such as Remission of Duties and Taxes on Exported Products (RoDTEP) and the recently approved Export Promotion Mission (EPM), which has an outlay of ₹25,060 crore.

As part of efforts to mitigate risks arising from geopolitical disruptions, the government has also launched a time-bound “RELIEF” scheme under the Export Promotion Mission, to be implemented through the Export Credit Guarantee Corporation (ECGC).

Officials said digital platforms and trade facilitation measures have improved efficiency, transparency, and access to global markets for exporters.

India is also expanding its global trade footprint through free trade agreements, with 19 FTAs in place and several others under negotiation, including with the EU, UK, and New Zealand.

The government said the integrated approach combining policy reforms, digital systems, and market access initiatives is aimed at building a resilient and future-ready export ecosystem.

The information was provided by Minister of State for Commerce and Industry Jitin Prasada in a written reply in the Lok Sabha.

New Delhi, Mar 25 (BNP): Union Agriculture Minister Shivraj Singh Chouhan on Tuesday said farmers’ incomes have doubled under the current government, citing higher minimum support prices (MSP), record procurement, and expanded welfare schemes.

Replying to questions in the Lok Sabha, Chouhan said the government is committed to ensuring farmers receive fair prices for their produce in all situations and has built a “strong security shield” through initiatives such as MSP procurement, PM-AASHA, and the Pradhan Mantri Fasal Bima Yojana.

He said MSP is being fixed at cost plus 50 per cent, providing better returns to farmers, and stressed that procurement at MSP has been expanded beyond foodgrains to include pulses, oilseeds, fruits, and vegetables.

The minister said agricultural production has increased by nearly 44 per cent in recent years, alongside efforts to improve both productivity and farm incomes.

Highlighting income protection measures, Chouhan said the PM-AASHA scheme ensures support when market prices fall below MSP through direct procurement, price deficiency payments, and other interventions.

He added that under the crop insurance scheme, farmers have received claims worth about ₹1.92 lakh crore against premium payments of around ₹36,055 crore, indicating substantial benefits.

Referring to recent natural calamities in Maharashtra, the minister said ₹14,000 crore was transferred directly to farmers within five days using digital farmer identification systems.

Chouhan said the government is also supporting farmers through the Market Intervention Scheme, including covering transportation costs in some cases to help farmers access better prices in distant markets.

He emphasised increased use of technology, including satellite-based assessment, to improve transparency in crop insurance claims and ensure accurate yield estimation.

The minister reiterated that the government remains committed to protecting farmers’ interests and ensuring they receive the full value of their produce.

New Delhi, Mar 25 (BNP): The Centre has identified 100 districts across the country under the Prime Minister Dhan-Dhaanya Krishi Yojana (DDKY) to drive the next phase of agricultural growth, focusing on regions with low productivity and limited credit access.

The districts have been selected based on three key indicators — low crop productivity, low cropping intensity, and inadequate agricultural credit disbursement.

The scheme aims to enhance agricultural productivity, promote crop diversification and sustainable practices, improve irrigation infrastructure, and expand post-harvest storage facilities at the panchayat and block levels. It also seeks to improve access to both short-term and long-term credit for farmers.

Under the initiative, District Action Plans (DAPs) are being prepared and implemented by district-level Dhan-Dhaanya Krishi Yojana committees headed by district collectors.

Officials said the plans will be developed through convergence of 36 central schemes across 11 departments, along with state schemes and private sector participation. The DAPs are designed to address local bottlenecks and integrate interventions such as climate-resilient technologies, micro-irrigation, protected cultivation, and post-harvest infrastructure.

To ensure coordination and monitoring, committees have been set up at the district, state, and national levels. Central Nodal Officers have also been assigned to each district for field visits and performance review.

The information was provided by Minister of State for Agriculture and Farmers Welfare Ramnath Thakur in a written reply in the Lok Sabha.

New Delhi, Mar 25 (BNP): The Centre has disbursed over ₹4.27 lakh crore to farmers under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme through 22 instalments since its launch in February 2019, the government informed Parliament on Tuesday.

The scheme provides ₹6,000 annually to eligible landholding farmers in three equal instalments through Direct Benefit Transfer (DBT) into Aadhaar-linked bank accounts.

During the release of the 21st instalment on November 19, 2025, more than 9.35 crore farmers received financial assistance under the scheme.

According to government data and independent assessments, the scheme has had a positive impact on farmers’ income and the rural economy.

A 2019 study by the International Food Policy Research Institute (IFPRI) found that PM-KISAN support helped ease credit constraints, boost rural economic growth, and encourage higher investment in agricultural inputs. It also enhanced farmers’ ability to take productive risks.

Feedback collected through Kisan Call Centres indicates that over 93 per cent of beneficiaries used the funds for agricultural activities.

An impact evaluation by NITI Aayog’s Development Monitoring and Evaluation Office (DMEO) found that over 92 per cent of beneficiary farmers spent the assistance on essential inputs such as seeds, fertilisers and pesticides. Around 85 per cent reported an increase in agricultural income and reduced dependence on informal credit, particularly during crop failures or medical emergencies.

The government said the scheme contributes to broader goals including poverty reduction, food security, and improved transparency.

To improve accessibility, a dedicated ‘Farmers Corner’ on the PM-KISAN portal allows beneficiaries to check payment status and eligibility. Farmers can also access these services through Common Service Centres.

A voice-based AI chatbot, ‘Kisan e-Mitra’, has also been deployed to address queries in 11 languages. The chatbot has handled over 95 lakh queries from more than 53 lakh farmers so far.

The government said Aadhaar authentication is mandatory under the scheme, with payments made directly through Aadhaar-based systems. Regular drives are conducted in coordination with states and agencies to ensure Aadhaar seeding of bank accounts.

The information was provided by Minister of State for Agriculture and Farmers Welfare Ramnath Thakur in a written reply in the Lok Sabha.