In a significant development for India’s electronics manufacturing sector, Apple Inc. has ramped up its iPhone exports from the country amidst global trade uncertainties. The move comes at a time when geopolitical shifts and rising tariffs are forcing tech giants to reconsider their supply chain strategies.

iPhone Exports Soar Amid Global Trade Tensions

Apple’s iPhone exports from India have shown a sharp increase, rising from ₹11,000 crore in March FY24 to ₹20,000 crore in March FY25. For the full financial year, total exports surged to ₹1.5 lakh crore from ₹85,000 crore the previous year. A substantial share of these exports was directed towards the United States just ahead of new import tariffs announced by President Donald Trump on April 2.

Both India and China, the only two countries where iPhones are manufactured, have been hit with US tariffs of 26% and 54% respectively. While these measures have disrupted global trade sentiment, Apple is reportedly taking a cautious approach and is unlikely to make immediate changes to its production or supply chain plans over the next several weeks.

India Becomes Key Manufacturing Hub for Apple

In anticipation of global trade disruptions, Apple had already begun expanding its manufacturing footprint in India during 2024. Backed by the Indian government’s production-linked incentive (PLI) scheme, the company has steadily shifted some of its operations away from China.

As per news reports, Apple is currently in discussions with major Indian industrial groups to locally source iPhone components such as mechanical parts. Several Indian firms have also entered joint ventures and partnerships to support Apple’s growing production requirements, underlining the country’s increasing importance in the brand’s global strategy.

Conclusion

Apple’s soaring iPhone exports from India reflect not only the changing dynamics of international trade but also the country’s rising role in global electronics manufacturing. As the company navigates the uncertainties of global tariffs and supply chain disruptions, India stands poised to play a more central role in its production ecosystem.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

As per the news reports, the number of new demat accounts opened in March dropped to the lowest in nearly two years, according to data from NSDL and CDSL. The slowdown comes amid increased market volatility and reduced activity in the primary market.

2.04 Million New Accounts in March

As per news reports, 2.04 million new demat accounts were opened in March 2025, compared to 3.03 million in February. This is the lowest monthly addition since April 2023 and marks the third straight month of decline in new account openings. Despite the slowdown, the total number of demat accounts rose from 190.4 million in February to 192.44 million in March.

Market Volatility 

Reports attribute the decline to weaker investor sentiment and lower IPO activity. When market conditions remain volatile and the IPO pipeline is limited, retail investors tend to stay cautious. March recorded significant fluctuations in Indian equities, which may have affected account openings.

Index Performance in March

The month saw contrasting trends in large-cap and broader markets:

• Sensex gained 5.8%
• Nifty rose 6.3%
• BSE Midcap fell 7.6%
• BSE Smallcap declined 8.3%

While benchmark indices recovered partially in the second half of the month, broader indices remained under pressure.

Domestic and Global Headwinds Continue

The Indian equity market has been facing corrections since late September, driven by multiple factors. These include weaker corporate earnings, slower-than-expected GDP growth, tight liquidity, delayed government expenditure, and persistent inflation. On the global front, geopolitical tensions and trade-related disruptions have also added uncertainty.

Conclusion

The latest data shows that retail participation through new demat accounts has slowed down significantly. Unless market sentiment improves and primary market activity picks up, the trend is likely to remain muted in the near term.

 

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

In a landmark move to enhance cybersecurity across India’s Banking, Financial Services, and Insurance (BFSI) sector, the Ministry of Electronics and Information Technology (MeitY), through CERT-In and CSIRT-Fin, in collaboration with global cybersecurity firm SISA, launched the first Digital Threat Report 2024. This report presents a comprehensive landscape of existing and emerging cyber threats faced by the financial sector and offers strategic insights to counter them.

Launched by senior government officials, including Shri M Nagaraju (Secretary, Department of Financial Services) and Shri S Krishnan (Secretary, MeitY), the report underscores the need for a collective, intelligence-driven approach to cyber risk management within BFSI institutions.

The Importance of a Unified Cybersecurity Strategy

At the launch event, Shri S. Krishnan emphasised the systemic risks posed by cyberattacks in an increasingly interconnected financial ecosystem. A single breach can ripple across institutions, making coordinated cyber defence mechanisms critical.

He noted, “CERT-In and CSIRT-Fin play a vital role by collaborating with regulators and global bodies to ensure timely detection and response. The report, developed with SISA, will help the BFSI sector build collective resilience.”

Cybersecurity as a Pillar of Economic Stability

Highlighting the strategic importance of cybersecurity, Shri M. Nagaraju asserted that cyber defences are no longer optional, but foundational. As digital transactions grow exponentially, securing them becomes not just a regulatory requirement, but a cornerstone of economic trust and stability.

He added, “This report serves as a strategic blueprint, equipping financial institutions with the intelligence needed to anticipate vulnerabilities, strengthen their defenses, and build cyber resilience in an era of increasingly sophisticated threats.”

Key Insights from the Report

The Digital Threat Report 2024 offers a multi-dimensional perspective, combining real-time intelligence from:

• SISA’s forensic investigations
• CERT-In’s cybersecurity oversight
• CSIRT-Fin’s sector-specific incident response

This convergence enables the identification of critical attack vectors, persistent vulnerabilities, and emerging adversarial tactics. The report doesn’t merely diagnose problems but delivers actionable insights across people, processes, and technologies to strengthen defences.

The Growing Threat Landscape in BFSI

With digital payments expected to touch $3.1 trillion by 2028, accounting for 35% of banking revenues, the BFSI sector’s digital expansion is both a growth engine and a vulnerability. The report addresses this duality by:

• Analysing prevalent threats and future risks
• Studying attacker methodologies that affect core systems
• Highlighting gaps that need urgent attention

This forward-looking analysis is intended to help institutions prepare for the evolving threat environment proactively.

India’s Global Cybersecurity Vision

Dr Sanjay Bahl, Director General of CERT-In, remarked that securing the BFSI sector is about safeguarding an entire digital ecosystem.

He stated, “In today’s hyper-connected world, threats evolve faster than ever, making collaborative intelligence-sharing essential. This report is meant to empower financial institutions to stay ahead of adversaries, adapt to emerging risks, and build long-term cyber resilience. Initiatives like these reinforce India’s commitment to setting global benchmarks in financial cybersecurity, ensuring that as digital transactions grow, they remain secure, trusted, and resilient against future threats.”

Enabling Action through Collaboration

SISA’s Founder & CEO, Dharshan Shanthamurthy, called the report a product of meaningful collaboration, bringing together industry and public sector expertise.

He said, “Cybersecurity resilience is built on collaboration. By integrating real-world threat intelligence, national cybersecurity insights, and financial sector incident response, this report delivers actionable intelligence that enables financial institutions to stay ahead of evolving threats. Our commitment extends beyond insights—we aim to fortify resilience in India’s BFSI sector and globally, driving a future where digital transactions are secure, seamless, and uncompromisingly protected.”

About SISA

SISA is a global, forensics-driven cybersecurity company trusted by over 2,000 organisations across 40+ countries. Specialising in digital payments, SISA combines forensic intelligence with cutting-edge technology to provide preventive, detective, and corrective solutions tailored to modern cybersecurity challenges.

Conclusion

The Digital Threat Report 2024 is not just an assessment but a strategic guide urging financial entities, regulators, and cybersecurity experts to adopt a unified, proactive posture. With the BFSI sector facing increasing threats from AI-powered fraud, regulatory pressures, and tech complexity, this report is a timely resource to navigate the ever-evolving threat landscape.

 

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related docume

The Income Tax Department has specific provisions under the Income Tax Act, 1961, that exempt certain senior citizens from filing Income Tax Returns (ITR), provided they meet the required conditions. This applies to Assessment Year 2025-26 as well.

Eligibility Under Section 194P

Section 194P was introduced under the Finance Act, 2021, and has been in effect since April 1, 2021. This provision applies to senior citizens who meet all of the following criteria:

• They are 75 years or older
• They are residents of India
• Their income is only from pension and interest
• The interest income is earned from the same bank where they receive the pension
• The bank is classified as a ‘Specified Bank’, as notified by the government

Required Declaration Form

To be exempted from ITR filing, eligible senior citizens must submit Form 12BBA to their bank. This declaration form must include:

• PAN
• Pension Payment Order (PPO) number
• Total income
• Deductions under sections 80C to 80U
• Information regarding section 87A exemption
• Name of the pension-paying employer
• Bank details

Bank’s Role After Declaration

Once the form is submitted, the bank is responsible for:

• Calculating total income (pension + interest)
• Applying applicable deductions and exemptions under the Income Tax Act
• Deducting TDS based on the final tax liability

This process is meant to eliminate the need for the senior citizen to file an ITR.

Tax Regime Consideration

If the senior citizen opts for the old tax regime, they must provide investment proofs to the bank to claim deductions. Under the new tax regime, such proofs are not required, as most deductions are not applicable.

Conclusion

Senior citizens aged 75 or above with income restricted to pension and interest from the same specified bank may not be required to file ITR, provided they submit Form 12BBA and fulfill the conditions under Section 194P.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

The Securities and Exchange Board of India (SEBI) has taken a significant step to safeguard investor rights by scrutinising the client agreements signed between Mutual Fund Distributors (MFDs) and investors. In particular, SEBI has found that certain clauses in these agreements provide undue indemnification to distributors, effectively shifting the burden of responsibility onto the investor, even in cases where investment advice has been offered.

AMFI Asked to Ensure Compliance Among Distributors

Following SEBI’s intervention, the Association of Mutual Funds in India (AMFI) has issued a directive to MFDs, especially large distributors such as banks, national distributors, and wealth management firms. These entities are now required to revise their client agreements to remove any unfair indemnity clauses that could be detrimental to investors.

This move comes in response to SEBI’s letter dated 9 January 2025 (SEBI/HO/OW/IMD/SEC-Div3/P/2025/194/1), where the regulatory body explicitly stated the need for amending these contracts.

Unfair Clause Highlighted in SEBI’s Review

SEBI cited a specific example of a clause found in one of the agreements: “If notwithstanding anything stated herein the bank or any employee of the bank gives any advice or representation to me/us, the bank shall have no liability for any such advice or representation made, as it will be my/our responsibility to make an independent assessment.”

According to SEBI, such clauses are problematic because they relieve the distributor of accountability, even when advice has been actively provided. This goes against the fundamental principle of investor protection and creates an imbalance in the distributor-investor relationship.

RTAs Communicate the Mandate to Distributors

Registrar and Transfer Agents (RTAs) have also played a role in disseminating SEBI’s guidance. In a recent communication to distributors, an RTA reiterated the requirement to eliminate or amend any clause that unreasonably indemnifies distributors for the investment advice offered.

This ensures consistency in practice across the mutual fund distribution ecosystem and reinforces SEBI’s stance on fair and transparent dealings with investors.

SEBI’s Directive to AMFI: Key Expectations

SEBI has clearly instructed AMFI to take the following actions:

• Remove or suitably amend any clause that offers undue indemnification to distributors.
• Sensitise members of AMFI to proactively identify and rectify similar clauses in all client agreements.
• Ensure compliance across the mutual fund industry, particularly among large-scale distributors who frequently formalise client relationships through written contracts.

Conclusion

This directive is a continuation of SEBI’s broader efforts to increase transparency and fairness within the mutual fund distribution framework. By holding distributors accountable and ensuring that clients are not unfairly burdened, SEBI aims to foster greater trust and protection for retail investors. While this move may require procedural changes on the part of distributors, it reinforces a much-needed culture of responsibility in financial advisory relationships.

 

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.