The CAG's estimate that the government has suffered revenue loss due to non-implementation of an agreement with Reliance Jio was based on a misinterpretation of a clause, and the error has been rectified now, Minister of State for Telecom Pemmasani Chandra Sekhar said on Thursday.
The Comptroller and Auditor General of India (CAG), in a report last year, had said that the state-run firm BSNL failed to enforce the master service agreement (MSA) with Reliance Jio Infocomm Ltd (RJIL) and did not bill for the additional technology used on BSNL's shared passive infrastructure, resulting in loss of Rs 1,757.76 crore and penal interest thereon, between May 2014 to March 2024 to the government exchequer.
The minister, in a written reply to the Rajya Sabha, said BSNL has an MSA with RJIL for leasing of BSNL's tower infrastructure to install their equipment.
"There is no revenue loss to BSNL and the government. The estimate of CAG was based on the misinterpretation of the clause of add-on ...

BSNL

The minister, in a written reply to the Rajya Sabha, said BSNL has an MSA with RJIL for leasing of BSNL's tower infrastructure to install their equipment

Press Trust of India

Company plans to use proceeds from the Navi Mumbai asset sale to prepay debt and strengthen investments in artificial intelligence-led proptech platforms

artificial intelligence, AI,

Business Standard

Industry body says overlap between Karnataka's gig worker law and the Code on Social Security could lead to duplicative welfare contributions by platform companies

Gig Workers, Quick Commerce, Food Delivery Platforms, Gig Economy India, Worker Exploitation, Tipping Culture, Consumer Responsibility, Platform Economy, Labour Rights, Delivery Partners

Retail edible oil prices begin to rise as global palm and soybean oil rates climb alongside crude oil amid the West Asia crisis

Edible oil

Rising streetwear culture, Gen Z demand and digital discovery are driving India's sneaker boom, helping homegrown brands expand while resale platforms scale up inventory

Sneaker market

Parliamentary panel urges government to create a sustainable revenue model for the UPI ecosystem, warning that current incentives cover only a fraction of industry costs

UPI device binding, NPCI UPI upgrade, SMS-less UPI onboarding, silent mobile verification, UPI security upgrade, tokenised verification payments, telecom verification UPI, digital payments India, payment fraud prevention, real-time payments India, Na

Air-conditioner makers warn of production risks as LPG shortages linked to the West Asia conflict disrupt supply of fuel used in brazing and coating processes

air conditioner, ACs

Standing committee asks government to review eligibility norms in the auto PLI scheme, expand EV incentives and speed up upgrades of testing agencies

rare earth magnets, equipment manufacturers, Electric Vehicles, Metals & minerals, Automobile

Tyre makers warn that the West Asia conflict may disrupt exports, raise crude-linked input costs and strain supply chains, prompting ATMA to seek urgent policy support

tyres, waste, pollution

German luxury carmaker Audi on Thursday said it will hike prices of its products in India by up to 2 per cent from April 1, 2026 to partially offset rise in input costs and adverse impact of currency fluctuations.
The price hike will be across the model range and the ex-showroom price of models to increase up to 2 per cent, Audi India said in a statement.
"Due to recent rising input costs and currency fluctuations, we are implementing a price adjustment of up to 2 per cent effective from April 1, 2026. We remain committed to minimising the impact of the price hike on our customers," Audi India Brand Director, Balbir Singh Dhillon said.
Audi India currently sells a range of luxury cars and SUVs ranging from Q3 SUV to SUV RSQ8 priced between Rs 43.23 lakh and Rs 2.34 crore.

Audi, Audi logo

The price hike will be across the model range and the ex-showroom price of models to increase up to 2 per cent, Audi India said in a statement

Renault names India a key global production and growth hub in its futuREady strategy, with plans to launch four new models in the country by 2030 as part of a global rollout of 36 vehicles

Renault futuREady, Renault India strategy, Renault global roadmap, Renault new models India, François Provost, Renault electric vehicles

Compared with last year's Budget, the Union Budget 2026-27 builds on the credit framework while moving decisively towards equity funding, market-linked liquidity, and structured compliance support

MSMEs

TNC Rajagopalan answers SME queries related to GST, export and import matters

export

Union Minister H D Kumaraswamy unveiled third round of speciality steel PLI scheme with relaxed thresholds, updated pricing benchmarks, and wider MSME participation to boost steel manufacturing

H D Kumaraswamy (Photo: X/@hd_kumaraswamy)

Base year revised, thresholds relaxed to reflect current market trends

Trade expert cites FTP Para 1.08 and CBIC circulars requiring that export consignments not be detained beyond three days, and clarifies documentation norms under the Advance Authorisation scheme

trade

RBI revises counterparty credit risk framework to align with Basel norms, refining capital treatment for derivatives exposures and clarifying rules for clearing members

RBI, Reserve Bank of India

Profitability in the banking sector is expected to remain healthy, supported by stronger core earnings

Reserve Bank of India (RBI) data also suggest a sharp pickup in corporate credit growth, with credit to industry growing 9.6 per cent as of November 2025, compared with 8.3 per cent in the corresponding fortnight of last year

RBI says banks can declare dividends based on capital adequacy levels, with payouts capped at 75 per cent of profit after tax and subject to CET1 buffers and supervisory conditions

RBI, Reserve bank

About 72 crore Basic Savings Bank Deposit Accounts (BSBDA), including those under the PM Jan Dhan scheme, are not subject to any penal charges for non-maintenance of minimum balance, Finance Minister Nirmala Sitharaman said on Monday.
In a written reply to a question in the Lok Sabha, she said banks offer zero-balance savings accounts facility in Basic Savings Bank Deposit Accounts (BSBDAs), including the accounts opened under the Pradhan Mantri Jan Dhan Yojana (PMJDY), to ensure universal access to banking facilities, particularly for unbanked, vulnerable and small depositors, and to promote financial inclusion.
These accounts do not require maintenance of any minimum balance, and the account holders are provided basic banking services such as deposits, withdrawals and ATM access free of charge, without levy of any penal charges.
"Approximately 72 crore BSBDAs, including PMJDY accounts, are not subject to any penal charges for non-maintenance of minimum balance," Sitharaman said.


Nirmala Sitharaman

During FY 202223 to FY 202425, Public Sector Banks (PSBs) have collected ₹8,092.83 crore from current account and savings account holders on account of non-maintenance of MAB

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