Category: Business

London,  March 17— lomarlabs, a venture catalyst advancing maritime innovation, has entered into a collaboration with Blaze Energy to pilot a third-generation, compact, engine-integrated fuel reformer designed to accelerate the practical adoption of alternative fuels in commercial shipping.

The collaboration will culminate in a pilot installation onboard a Lomar vessel, enabling Blaze Energy to validate its multi-fuel reforming system, under real marine operating conditions. The Flex-Fuel Reformer converts ammonia, methanol, or LNG into hydrogen directly onboard the ship, allowing propulsion and power generation machinery and equipment to efficiently operate on full or partial hydrogen blends to reduce associated emissions without compromising operational flexibility. The installed system will be first proven through ammonia.

Addressing a critical barrier to alternative fuels

Against the backdrop of tightening regulation – including the EU Emissions Trading System (EU ETS) and FuelEU Maritime – shipowners face increasing uncertainty around future fuel pathways, fuel availability, and long-term compliance strategies. With vessels representing multi-decade investments, the risk of premature lock-in to a single fuel or propulsion solution has become a central strategic concern.

Blaze Energy addresses this challenge by enabling existing engines to operate efficiently with multiple alternative fuels through compact, engine-integrated fuel reforming. By converting ammonia, methanol, or LNG into hydrogen directly at the engine, the system supports hydrogen-assisted combustion without the need for large standalone equipment or dedicated hydrogen supply chains.

Injecting small quantities of hydrogen accelerates combustion of slow-burning fuels such as ammonia – reducing ammonia slip, improving combustion efficiency, and mitigating methane slip in LNG engines. This allows owners to achieve measurable emissions and efficiency benefits while preserving operational and commercial optionality across fuels.

From laboratory validation to marine pilot

Building on successful laboratory validation, Blaze Energy is preparing for its first marine pilot as the next step toward real-world deployment. The pilot will be installed onboard a Lomar vessel and tested under real marine operating conditions, a key validation step towards the first commercial retrofit and newbuild deployments.

The pilot is designed as a capital-efficient first-ship deployment, generating the technical and operational evidence required to progress towards full classification society approval and enable follow-on installations with additional owners and engine OEM partners who seek early engagement in AiP-driven fuel-flexible deployment pathways.

A shared commitment to fuel flexibility

The collaboration reflects a shared view between lomarlabs and Blaze Energy that fuel flexibility, rather than reliance on a single future fuel, will be central to maritime decarbonisation. By enabling vessels to bunker locally all available fuels – subject to storage tank availability – and convert them onboard, compact reforming technology offers a pragmatic pathway through uncertain fuel availability, infrastructure readiness, and regulatory evolution, for owners and Original Equipment Manufacturers (OEM) to manage fuel uncertainty and transition risk without premature commitment to a single future fuel propulsion solution.

Stylianos Papageorgiou, Managing Director of lomarlabs, said:

“The energy transition in shipping will be non-linear, and multi-fuel for longer than we may want or expect. Technologies that create optionality, rather than betting on a single outcome, will be strategically important. Blaze Energy works to bring to market a technology that delivers optionality to owners and resolves engineering bottlenecks. Our collaboration is about giving new technology the space and support it needs to iterate, learn, and prove itself in the real world.”

Rok Sitar, CEO and co-founder of Blaze Energy, said:

“This pilot marks a deliberate shift from proving technology to proving operability. By integrating Blaze Flex-fuel System with a trading vessel we are addressing one of the key bottlenecks in adopting alternative fuels: practical, safe, and flexible use in existing vessels. Collaborating with an owner of this caliber allows us to validate the system under class-relevant conditions and build a credible pathway toward broader deployment with owners, OEMs and class societies.”

Sven Schwarz, Strategic Advisor to Blaze Energy and former CEO of two leading European chemical tanker operators, adds:

“For shipowners, the defining challenge is navigating regulatory uncertainty, uneven fuel availability, and long asset lifecycles at the same time. Technologies that preserve fuel optionality while working within existing engines and class frameworks are critical to de-risk compliance and long-term investment decisions.”

Nicholas Georgiou, CEO of Lomar, adds:

“There are many pathways to improve and develop fuel use, but one common and essential direction: decarbonisation. This collaboration has the potential to help us transform the practical adoption of alternative fuels in commercial shipping which would be of great value to owners of vessels in the water, especially those with diesel engines.”

Looking ahead

The pilot is scheduled for installation in early 2027, following land-based testing and engagement with classification societies. Both parties view the collaboration as a step toward developing engine-compatible, operationally credible pathways for alternative fuels—grounded in real-world testing rather than assumptions.

Ras Al Khaimah, Mar 17: Ras Al Khaimah Economic Zone (RAKEZ) recently organised an expert-led workshop aimed at helping businesses navigate UAE corporate tax requirements while strengthening their financial management practices. The session brought together entrepreneurs and business leaders from the RAKEZ community to gain practical insights on maintaining compliance and building stronger financial resilience in today’s evolving business environment.

The workshop focused on equipping companies with a clearer understanding of corporate tax obligations while offering practical strategies to manage spending, improve cash flow visibility, and maintain financial stability. Participants were guided through key aspects of the UAE’s corporate tax framework, including registration requirements, proper record-keeping practices, and approaches to ensuring accurate and timely tax filings.

During the session, attendees also gained insights into corporate tax thresholds and available relief mechanisms, including the 0% tax threshold and the Small Business Relief scheme, helping businesses better understand how these provisions apply to their operations. The workshop further explored practical financial management approaches that companies can adopt to strengthen their financial position, including prioritising spending, improving cash flow monitoring, and using automation tools to enhance operational efficiency and support more sustainable growth.

RAKEZ Group CEO Ramy Jallad said, “Our focus at RAKEZ is to ensure that businesses within our community remain well-informed and well-prepared. By bringing together regulatory expertise and practical financial insights, we help our clients strengthen their operations and make confident decisions for their growth.”

The workshop featured insights from industry experts, including Profit Acceleration Specialist and Founding Launch Director of BNI RAK Mike Hoff, who shared growth-focused financial strategies for business owners, and Tax Consultant John Casey, who provided guidance on navigating the UAE’s corporate tax landscape and maintaining compliance.

Through its ongoing programme of expert-led sessions, workshops, and knowledge-sharing initiatives, RAKEZ continues to provide businesses with access to practical insights, industry expertise, and the latest regulatory updates, enabling companies to stay compliant while strengthening their operational and financial foundations.

The period between December 2025 and March 2026 proved to be one of the most eventful quarters for India’s stock market in recent years. It was a season that began with optimism and record-breaking milestones but soon transitioned into a phase of correction, global uncertainty, and renewed resilience. For investors, the winter months offered a vivid reminder of how rapidly market sentiment can shift in a globally connected financial ecosystem.

A Rally That Reached New Heights

As 2025 drew to a close, Indian equity markets were riding on strong momentum built throughout the year. Robust corporate earnings, resilient domestic consumption, and steady inflows from domestic institutional investors helped propel the benchmarks to historic levels.

The BSE Sensex surged past the 86,000 mark, while the Nifty 50 climbed above 26,000, reflecting investor confidence in India’s economic trajectory. Banking, financial services, and infrastructure stocks led the rally, supported by strong balance sheets and expectations of sustained credit growth.

Retail participation in the equity markets also continued to rise. Systematic investment plans (SIPs) into mutual funds remained strong, cushioning the market from volatility and reducing dependence on foreign capital flows. For much of December, the mood on Dalal Street was unmistakably bullish.

The Turn: Profit Booking and Global Headwinds

However, the exuberance did not last long. As the calendar turned to January 2026, markets began to show signs of fatigue. After months of sustained gains, investors started booking profits, triggering a correction in benchmark indices.

Global developments added to the pressure. Rising crude oil prices, geopolitical tensions in the Middle East, and uncertainty surrounding global interest rate policies created nervousness among investors. Foreign institutional investors (FIIs), who had previously supported the rally, began pulling out funds from Indian equities.

The correction was swift. Both the Sensex and Nifty retreated significantly from their record highs, reflecting broader concerns about global growth, inflation risks, and elevated market valuations.

Market strategists noted that the correction was not entirely unexpected. After an extended rally, valuations in several sectors had become stretched, leaving equities vulnerable to external shocks. The pullback, many analysts argued, was a natural phase in a longer-term bullish cycle.

Sectoral Divergence Becomes Visible

During the correction phase, the performance gap between sectors became more evident. Technology and export-oriented companies faced pressure amid global economic uncertainty, while sectors linked to domestic demand — such as banking, infrastructure, and capital goods — remained relatively resilient.

Large-cap stocks, particularly those in the banking and financial services space, continued to attract investor interest. Their strong earnings visibility and relatively stable balance sheets made them preferred picks during volatile market conditions.

Meanwhile, mid-cap and small-cap stocks experienced sharper fluctuations as investors reassessed valuations and rotated capital toward safer large-cap counters.

March: Signs of Stability and Recovery

By March 2026, signs of stabilization began to emerge in the Indian equity market. Select heavyweight stocks helped drive a recovery in benchmark indices, supported by renewed buying from domestic investors and value-seeking institutional participants.

Banking and financial stocks played a crucial role in the rebound. Market leaders across the sector witnessed renewed interest as investors looked for fundamentally strong companies capable of delivering consistent earnings growth.

The recovery also reflected confidence in India’s broader economic fundamentals. Despite global uncertainty, India’s macroeconomic indicators remained relatively stable. Economic growth projections continued to outpace many other major economies, reinforcing the country’s position as one of the most attractive emerging markets for long-term investors.

Domestic Strength vs Global Uncertainty

The December–March quarter highlighted a defining characteristic of India’s modern equity market: its growing resilience, driven largely by domestic capital.

In the past, sharp foreign investor outflows could trigger steep market declines. Today, strong domestic institutional participation — including mutual funds, insurance companies, and retail investors — has created a more balanced market structure.

Even during periods of foreign selling, domestic investors have stepped in to absorb supply, helping stabilize market movements.

Nevertheless, global developments continue to influence short-term sentiment. Fluctuations in oil prices, geopolitical conflicts, and changes in global monetary policy remain key variables that investors closely monitor.

The Road Ahead

Looking forward, market experts believe that the next phase of growth in Indian equities will depend less on valuation expansion and more on sustained corporate earnings growth.

Infrastructure spending, manufacturing expansion, and continued digital transformation across sectors are expected to support long-term economic growth. These structural drivers could provide a strong foundation for equity markets in the coming years.

For investors, the winter of 2025–26 served as an important lesson. Markets may move in cycles of enthusiasm and caution, but the broader story of India’s economic rise continues to attract global attention.

In many ways, the events of the past few months reaffirm a simple truth about financial markets: while volatility is inevitable, strong fundamentals often provide the most reliable anchor for long-term confidence.

India’s fiscal year-end liquidity dynamics may present a window of opportunity for investors in short-term debt instruments, particularly through liquid and money market mutual funds. Historically, the period between December and March has been one of the most favorable for such investments due to temporary liquidity pressures in the financial system that tend to push short-term yields higher.

According to market data, yields on money market instruments often rise during the final months of the financial year as banks, corporates, and financial institutions adjust their balance sheets and liquidity positions. This seasonal tightening typically leads to higher yields on instruments such as commercial papers (CPs), certificates of deposit (CDs), and treasury bills.

Seasonal Yield Spike Around Fiscal Year-End

The year-end period coincides with several liquidity-draining events across the economy. Companies and individuals make tax payments, corporates distribute dividends, and governments increase treasury bill issuance to manage fiscal cash flows. At the same time, banks adjust their liquidity ratios ahead of quarter-end reporting. These combined factors create a temporary spike in short-term borrowing costs in the money market.

Historically, this pattern has led to yields peaking around March and early April, before stabilizing as liquidity returns to the system. For debt investors, this window can offer an opportunity to lock in higher yields in short-duration instruments.

Active Portfolio Management Gains Importance

Fund managers often respond to this seasonal trend by adjusting portfolio maturity profiles. Instead of maintaining a constant duration strategy, some actively manage maturities to capture the yield spike. This involves increasing average maturity around March–April and reinvesting proceeds from maturing instruments at elevated rates.

For example, money market funds may hold instruments with slightly longer maturities during this phase to benefit from favorable rate movements, while liquid funds may deploy rolling maturities to reinvest proceeds into higher-yielding short-term securities.

Current Yield Environment

As of February 28, 2026, a money market fund cited in the report was running a yield to maturity (YTM) of about 6.69% with a Macaulay duration of 164 days, while a liquid fund was operating at around 6.18% YTM with a much shorter duration of 39 days. These figures reflect the typical short-duration positioning of such funds while they aim to benefit from seasonal yield movements.

While absolute yields are slightly lower compared with previous years, expectations of possible rate easing combined with fiscal year-end liquidity dynamics could still support performance in the near term, analysts note.

Outlook

With fiscal year-end liquidity tightening and potential interest-rate adjustments on the horizon, short-term debt funds may continue to attract investor interest. Market participants say strategies that dynamically manage maturity and reinvestment timing could be better positioned to capture yield spikes during the March–April period while maintaining liquidity and credit discipline.

However, experts caution that returns in debt funds remain linked to market conditions, and investors should consider their risk appetite and investment horizon before allocating funds to such instruments.

Pune, Mar 17: Tech Mahindra (NSE: TECHM), a leading global provider of technology consulting and digital solutions to enterprises across industries, announced a partnership with Fortinet, the global cybersecurity leader driving the convergence of networking and security, to deliver a Managed Secure Access Service Edge (SASE) solution. The joint solution aims at enabling secure and scalable digital transformation for enterprises globally.

The partnership combines Tech Mahindra’s advisory, transformation, and managed services covering networking and security, with the Fortinet Unified SASE solution to help enterprises modernize and secure their networks in an increasingly hybrid and cloud-driven environment. The Managed SASE solution integrates secure Software-Defined Wide Area Network (SD-WAN), Zero Trust Network Access (ZTNA), and advanced threat protection into a unified architecture, enabling seamless connectivity and robust security across cloud, Software as a Service (SaaS), and on-premises environments. The solution is also supported by 24×7 security operations centers, proactive threat hunting, and AI-driven intelligence to deliver continuous protection across the enterprise network.

Abhishek Malhotra, Global Business Head – Network Services, Tech Mahindra, said,

 “As enterprises accelerate cloud adoption and embrace hybrid work, the burden of fragmented network architecture and operational complexity has become a critical hurdle. Through our partnership with Fortinet, Tech Mahindra is addressing this challenge by delivering a unified Managed Secure Access Service Edge (SASE) solution. It integrates secure connectivity, zero-trust network access and advanced protection into a single, scalable framework, empowering organizations to modernize their networks and drive business agility with confidence.”

In addition to strengthening security, the joint solution delivers measurable business outcomes, including reduced dependence on costly Multiprotocol Label Switching (MPLS) networks, lower total cost of ownership, and scalable network expansion across branch offices, edge locations, and remote workforces. Centralized policy management and a consistent user experience of the solution further simplify operations while maintaining strong security controls.

Landon Scott, Vice President, U.S. Channel Sales, Fortinet, said,

“Enterprises are looking to simplify infrastructure, lower operational costs, and securely support hybrid work. Our partnership with Tech Mahindra delivers a managed Unified SASE solution that replaces fragmented architectures with integrated networking and security, helping customers achieve significant efficiency gains while strengthening their security posture.”

The partnership further strengthens Tech Mahindra’s end-to-end Managed Network Services offering for global customers, enabling network modernization, enhanced security posture, and cost optimization. Together, Tech Mahindra and Fortinet make it easier to modernize networking and enhance protection for today’s hybrid environments and distributed workforce.

The Indian Institute of Creative Technologies (IICT) today signed a significant Memorandum of Agreement (MoU) with the Publications Division, Ministry of Information and Broadcasting, Government of India, to collaborate on the printing and publication of books and knowledge resources for India’s AVGC-XR and creative technology ecosystem.

Under the agreement, the Publications Division will act as the official publisher for select IICT works, undertaking printing and production. The collaboration will operate under a 100% buy-back arrangement, wherein IICT will retain full copyright and intellectual property rights while assuming complete responsibility for distribution, circulation, and commercial aspects of the published works.

The partnership aims to enable the publication of high-quality knowledge resources across animation, visual effects, gaming, comics, films, and extended reality (XR), while ensuring adherence to government publishing standards and contributing to cultural preservation.

Marking the occasion, the Hindi edition of Hum Dono: The Dev and Goldie Story by Tanuja Chaturvedi was also launched at IICT Mumbai. The event was graced by filmmaker and actor Amol Gupte as Chief Guest.

Originally published in English by Bloomsbury India in 2024, the book has received strong appreciation from critics and readers. It traces the journey of legendary filmmaker brothers Dev Anand and Vijay Anand, exploring their creative partnership, personal bond, and lasting contribution to Hindi cinema.

Speaking about the book and its Hindi edition, author Tanuja Chaturvedi said, “This book has been a deeply personal and fascinating journey for me. Dev Anand and Vijay Anand were not just extraordinary filmmakers but also brothers whose creative relationship shaped some of the most memorable moments in Hindi cinema. Bringing this story to Hindi readers felt important because the legacy of Dev and Goldie belongs to a wider audience that grew up watching their films.”

Welcoming the gathering, Dr. Vishwas Deoskar, CEO of IICT, emphasized the importance of documenting film history. He said, “Books such as Hum Dono play a crucial role in helping younger generations understand the artistic and cultural journeys that shaped the industry.”

Men’s jewellery is witnessing a quiet yet confident resurgence. Once largely reserved for ceremonial dressing, it has now become an integral part of everyday personal style. From subtle chains to sculpted rings and bracelets, modern men are increasingly embracing jewellery as a form of self-expression—pieces that complement both traditional attire and contemporary tailoring.

This shift is also reflected in popular culture. Candere’s brand ambassador, Shah Rukh Khan, has long been known for carrying jewellery with effortless confidence—whether layered chains, statement rings, or understated bracelets. His styling reflects a broader movement where jewellery is no longer viewed as occasional ornamentation but as a natural extension of personal style.

Today, the modern wardrobe transitions seamlessly between festive gatherings, professional settings, and social evenings. Jewellery that adapts to these moments becomes especially valuable. A thoughtfully designed ring, a minimal chain, or a refined bracelet can add character without overpowering an outfit, working just as effortlessly with a kurta at a celebration as it does with a tailored suit.

This is where Candere’s lifestyle jewellery, under the house of Kalyan Jewellers, finds its place. Designed with clean lines and contemporary aesthetics, these pieces are crafted in gold, platinum, and diamonds to complement a variety of personal styles. Distinctive yet versatile, they are created to transition effortlessly across occasions.

Here’s what stands out in Candere’s men’s jewellery edit-

The Desirable Platinum and Diamond Ring

Crafted for the modern man, this sleek ring from Candere blends contemporary design with refined craftsmanship. Featuring a bold geometric silhouette accented with black enamel and subtle sparkling stones, it adds a sharp yet understated touch to any look.

Versatile and distinctive, the ring pairs effortlessly with both traditional attire and modern tailoring—making it a stylish statement for everyday wear. It reflects Candere’s signature balance of elegance and modern style.

The Luxora Platinum Chain

Minimal and polished, the Luxora Platinum Chain is designed for effortless styling. Its sleek silhouette sits naturally against the neckline, making it an easy addition to both a kurta for festive gatherings and a crisp shirt or suit for formal occasions. Subtle yet distinctive, it’s a modern essential that enhances any look without overpowering it

The Stylish Men’s Gold Stud Earring

Bold yet refined, this men’s gold stud earring from Candere features a striking black enamel finish accented with a modern geometric pattern. Crafted in polished gold, the design blends contemporary style with everyday versatility, making it a standout accessory for men who appreciate subtle yet distinctive jewellery.

The Enzo Diamond Pendant

The Enzo Diamond Pendant from Candere blends modern design with refined elegance. Crafted in polished gold, the pendant features a sleek vertical silhouette accented with a line of sparkling diamonds set against a textured dark backdrop. Bold yet sophisticated, it adds a contemporary edge to everyday style while making a subtle statement.

The Travis Diamond Cuff Bracelet

Structured yet refined, the Travis Diamond Cuff Bracelet brings together the boldness of a cuff with the subtle brilliance of diamonds. Designed in gold and accented with carefully placed stones, its open cuff silhouette lends a contemporary edge while remaining versatile enough for a festive kurta or a tailored suit, it adds a confident finishing touch that feels both modern and effortless

New Delhi, Mar 17th: THOMSON, the iconic  French consumer electronics and home appliances brand, announces the launch of its 3 new models of washing machines in India. The latest portfolio expansion includes one fully automatic top load washing machine and two semi-automatic top load washing machines, aimed at addressing the laundry requirements of Indian households across different family sizes and usage preferences.

the newly launched washing machines are now available on Flipkart, with attractive consumer offers expected during the upcoming Flipkart Summer Sale scheduled from March 18 to March 23.

The newly introduced models include the THOMSON TTL7500SN fully automatic top load washing machine with a 7.5 kg capacity, along with THOMSON TSA8500SPN (8.5 kg) and THOMSON TSA1400D (14 kg) semi-automatic top load washing machines. All models are equipped with a BEE 5-Star energy rating, supporting energy-efficient operation and lower electricity consumption.

Commenting on the launch, Avneet Singh Marwah, CEO, SPPL and Exclusive Brand Licensee of THOMSON in India, said,“The expansion of our washing machine portfolio reflects our focus on offering practical, energy-efficient and reliable home appliances for Indian consumers. With the introduction of these new models, we are strengthening our presence in the home appliances segment while addressing varied capacity requirements, usage habits and value expectations across households”

Fully Automatic Top Load Washing Machine

The THOMSON TTL7500SN features a 7.5 kg wash and spin capacity and is equipped with Fuzzy Logic technology to automatically optimize wash parameters based on load size. The washing machine includes a stainless steel tub, a magic filter and  auto balancing system. It offers multiple wash programs, including Standard, Soft, Wash and Air Dry, along with soak and air-dry functions.

Semi-Automatic Top-Load Washing Machines

The THOMSON TSA8500SPN comes with an 8.5 kg wash capacity and 4.5 kg spin capacity. Key features include a dual waterfall wash system, magic lint filter, collar scrubber, detergent box and 3D roller pulsator. The model is also equipped with caster wheels and rubber pads for ease of movement and stability.

The THOMSON TSA1400D semi-automatic washing machine offers a 14 kg capacity, making it suitable for large households and joint families with higher laundry requirements. The high-capacity design enables users to wash large loads in a single cycle, including heavy garments, bed linens and curtains, helping reduce the number of wash cycles and overall water usage.

The washing machine is equipped with a 35-minute wash timer with soak function, allowing better loosening of dirt and stains before the wash cycle begins. Its quad flow pulsator creates powerful multi-directional water movement, ensuring deeper detergent penetration and effective removal of tough stains, even on bulky loads. Additional features include a dual waterfall system for uniform water distribution, a faster air-drying spin tub, buzzer alert, and magic lint filter, making the TSA1400D a practical solution for high-volume, everyday laundry needs.

Key Features at a Glance

• BEE 5-Star Energy Rating: Designed to support energy-efficient operation across all models.
• Multiple Capacity Options: Ranging from 7 kg to 14 kg to suit different household requirements.
• Efficient Wash Performance: Enabled through Fuzzy Logic, waterfall wash systems and specialised pulsators.
• User-Oriented Design: Includes features such as child lock, collar scrubber, caster wheels and buzzer alerts.
• Durable Construction: Stainless steel tubs and robust components for long-term usage.

The Indian home appliances market continues to witness steady demand, driven by rising household penetration, replacement cycles and growing preference for energy-efficient and high-capacity appliances. Consumer sentiment remains focused on value, durability and practical features that address everyday usage conditions.

THOMSON has been consistently expanding its home appliances portfolio year on year, aligning product development with Indian consumer needs across metros and non-metro markets. By focusing on capacity-led offerings, energy efficiency and feature relevance, the brand aims to bridge existing gaps in the market while strengthening its footprint in the washing machine category.

Bengaluru, Mar 17th: The Faculty of Engineering and Technology (FET), JAIN (Deemed-to-be University), hosted INCEPTRIX Hackathon 2.0, a national-level innovation and technology hackathon that brought together student innovators from across India to design and develop practical, technology-driven solutions addressing real-world challenges.

Organised by the Tech Council, FET, the event was conducted as a 24–hour offline coding and innovation marathon, emphasising creativity, teamwork, problem-solving, and technical excellence. Over 600 teams from 28 states registered for the competition, each comprising a minimum of four members, including at least one female participant, to promote diversity and inclusivity.

The competition began with an online presentation round, where teams submitted detailed proposals outlining their problem statements, proposed solutions, technology stacks, feasibility, and team roles. Following a rigorous evaluation, 100 teams were shortlisted for the final round held on campus, where participants engaged in continuous coding, designing, testing, and refining their prototypes. Eminent mentors and judges from top corporate and IT companies provided ongoing guidance and assessed each project for technical depth, innovation, scalability, and presentation quality.

The judging panel awarded the top prizes based on innovation, technical excellence, feasibility, and overall presentation:

1. Winner: Team Envision, Sri Sai Ram Institute of Technology, Tamil Nadu – INR 1,00,000
2. 1st Runner-up: Team Error404, JAIN (Deemed-to-be University), Kanakapura, Karnataka – INR 50,000
3. 2nd Runner-up: Team Windows12Devs, Ramaiah Institute of Technology, Karnataka – INR 25,000

The hackathon concluded on 28th February with final evaluations, result announcements, and closing remarks. Participants benefited from structured mentorship, collaboration, and networking opportunities with peers from different states, alongside access to dedicated workspaces, refreshments, and support throughout the event.

The initiative reinforced the University’s commitment to fostering innovation, practical problem-solving, interdisciplinary teamwork, and entrepreneurial thinking among students. By bridging the gap between theoretical knowledge and hands-on application, INCEPTRIX Hackathon 2.0 highlighted the growing culture of technological creativity and collaborative learning within academic institutions nationwide.

New Delhi, March 17: India’s retail digital payment transactions have witnessed rapid growth over the past four financial years, driven by coordinated efforts of the government, the Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI), the government informed the Lok Sabha.

In a written reply, Nirmala Sitharaman, Union Minister of Finance, said the total volume of retail digital payments rose from 7,176.90 crore transactions in FY 2021–22 to 22,167.90 crore transactions in FY 2024–25.

During the same period, the value of transactions increased from ₹457.44 lakh crore in FY 2021–22 to ₹849.12 lakh crore in FY 2024–25, reflecting sustained expansion in India’s digital payments ecosystem.

According to the data shared in Parliament, digital payments recorded 58.42 percent growth in volume and 28.41 percent growth in value in FY 2022–23, followed by 44.39 percent and 22.47 percent growth respectively in FY 2023–24. In FY 2024–25, transactions continued to rise with 35.04 percent growth in volume and 18.04 percent growth in value.

Among various digital payment modes, the Unified Payments Interface (UPI) accounted for 81 percent of total retail digital payments in FY 2024–25, making it the largest real-time retail payment system in the world.

The growth of digital payments has been supported by factors such as increasing smartphone penetration, Aadhaar-enabled authentication, e-KYC, expanded financial inclusion, and wider merchant acceptance infrastructure across urban and rural areas. India’s digital public infrastructure has also enabled interoperability and simplified onboarding processes for users.

Government initiatives such as the Incentive Scheme for Promotion of Digital Payments and the Payment Infrastructure Development Fund (PIDF) have further supported the expansion of digital payment systems.

The Finance Minister noted that the rise in digital payments has also brought challenges including cybersecurity risks, digital literacy gaps, network issues and user awareness, though no specific concerns related to Maharashtra and Andhra Pradesh have been reported.

To combat digital financial fraud, the government, RBI and NPCI have implemented several safeguards, including device binding between mobile numbers and devices, two-factor authentication through PIN, daily transaction limits and restrictions on certain use cases. NPCI has also introduced an AI and machine learning-based fraud monitoring system to detect suspicious transactions.

Citizens can report cybercrime incidents, including financial fraud, through the National Cybercrime Reporting Portal and the National Cybercrime Helpline number 1930, launched by the Ministry of Home Affairs.

Additionally, the Department of Telecommunications has introduced the Digital Intelligence Platform (DIP) and the “Chakshu” facility, enabling people to report suspicious communications received through calls, SMS, or WhatsApp.

To improve digital payment infrastructure in rural and remote areas, the PIDF initiative has supported the deployment of about 5.80 crore digital touchpoints and nearly 56.86 crore QR codes across the country.

For users in low-connectivity regions and feature phone users, NPCI has introduced UPI 123PAY, which allows payments through interactive voice response (IVR) and sound-based proximity payments, and Hello UPI, which enables conversational digital payments.

The government has also focused on improving financial literacy. As of March 31, 2025, a total of 2,421 Centres for Financial Literacy (CFLs) have been established across India, each covering three blocks. In addition, Financial Literacy Week, observed annually since 2016, continues to promote awareness about safe and responsible use of digital financial services.