Government Mandates Aadhaar for eNAM Scheme Subsidies and Benefits

The Ministry of Agriculture and Farmers Welfare has introduced a significant regulatory change by mandating Aadhaar authentication for individuals seeking subsidies and benefits under the electronic National Agriculture Market (eNAM) scheme.

 

In a notification dated 21 April 2025, the Ministry clarified that Aadhaar will serve as a mandatory proof of identity for accessing benefits, aligning with broader efforts to strengthen transparency and efficiency across government schemes.

Linking Aadhaar for Agricultural Reforms

Aadhaar, the 12-digit unique identity number issued by the Unique Identification Authority of India (UIDAI), utilises biometric and demographic data to verify individuals’ identities. 

 

It plays a vital role in accessing various government services. Under the new directive, individuals without an Aadhaar number must apply for enrolment to remain eligible for the eNAM benefits. This initiative is expected to streamline the authentication process, ensuring that the subsidies and incentives reach genuine beneficiaries efficiently.

 

Read More: RBI Pushes for Safer Digital Banking with Mandatory ‘.bank.in’ Domain by October 2025.

Expansion Plans and Financial Assistance Under eNAM

The eNAM scheme is a flagship digital initiative aimed at enhancing inter-mandi and inter-state agricultural trade. The Central Government is set to expand the platform through measures such as Warehouse Based Sale (WBS), integration of the electronic Negotiable Warehouse Receipt (eNWR) system, and improved farmer access via Farmer Producer Organisations (FPOs).

Financial support is provided through a one-time grant of up to ₹75 lakh per mandi, with ₹30 lakh allocated for computer hardware, internet facilities, and assaying equipment, and ₹40 lakh for establishing sorting, grading, and composting units. FPOs stand as primary beneficiaries under this scheme, which is funded through the Consolidated Fund of India.

Conclusion

The Ministry’s decision to mandate Aadhaar for eNAM beneficiaries marks a pivotal move towards enhancing accountability and transparency in the agricultural sector. By reinforcing authentication processes, the initiative aims to improve the effectiveness of subsidy distribution and bolster the broader objectives of the eNAM scheme.

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.

Hyundai Motors and Indian Oil Team Up on Hydrogen Fuel Cell Vehicle Potential in India

Hyundai Motor India Ltd (HMIL) has signed a memorandum of understanding (MoU) with Indian Oil Corporation (IOC) to begin on-road testing of hydrogen fuel cell vehicles. The agreement includes the use of one Hyundai Nexo vehicle, which has been handed over to IOC for the trial.

As of 9:38 AM on April 23, 2025, Hyundai Motor India share price was trading at ₹1,712.70, a 0.53% up, but down 2.92% over the past month and 9.97% over the past six months.

Two-Year Test Period

The testing will take place over a span of two years. During this time, the vehicle will be driven for about 40,000 km. The objective is to observe how the hydrogen-powered vehicle performs under everyday driving conditions in India.

Read more: Hyundai Motor India to Raise Car Prices by Up to 3% from April 2025.

Cost and Maintenance Study Included

In addition to performance tracking, a Total Cost of Ownership (TCO) study will be conducted. This will involve monitoring fuel consumption, maintenance requirements, and other operational aspects to gather data on long-term usage.

India currently lacks a full-fledged hydrogen refuelling network. The ongoing test may offer information that could help in planning for related infrastructure in the future.

Research Collaboration with IIT Madras

Separately, HMIL is working with the Indian Institute of Technology Madras (IIT-M) to set up a Hydrogen Innovation Centre. The facility is being developed to support testing and development by startups and manufacturers working with hydrogen components.

Other Companies Also Testing Hydrogen Vehicles

Tata Motors has already started trials with hydrogen-powered heavy-duty trucks. These trials are also set to continue for two years. Ashok Leyland is in the process of developing its own hydrogen truck models, aiming for a release by October 2026. Mahindra & Mahindra has been working on early-stage projects in hydrogen mobility as well.

Conclusion

The HMIL-IOC collaboration adds to the list of hydrogen mobility trials currently underway in the country. The data gathered over the 40,000 km test will feed into future decisions around hydrogen vehicle use and infrastructure in India.

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.

CCI Clears Bharat Forge’s Acquisition of AAM India Manufacturing

The Competition Commission of India (CCI) has approved Bharat Forge Ltd.’s acquisition of AAM India Manufacturing Corporation Pvt Ltd. The clearance was granted following voluntary modifications proposed by the involved parties. Details of these modifications were not disclosed in the public domain.

As of 9:40 am on April 23, 2025, Bharat Forge share price was trading at ₹1,115.20, a 1.05% up, but down 8.30% over the past month and 21.59% over the past six months.

Transaction Background

Bharat Forge is involved in the manufacturing of forged components and engineering solutions across multiple sectors. AAM India Manufacturing operates in the axle manufacturing space for commercial vehicles. The proposed deal falls under the regulatory threshold requiring antitrust clearance.

The CCI had earlier sought public feedback on the transaction, citing possible concerns around market competition. The deal has now been approved, subject to the companies’ compliance with the agreed-upon voluntary changes.

Structural Changes to the Target Company

Before the acquisition takes place, AAM India Manufacturing will separate its Pune Business Office, which handles IT support and product engineering services. Additionally, its components business division will also be carved out.

As part of the restructuring, the company will acquire e-axle assembly lines from AAM Auto Component India Pvt Ltd, another group subsidiary under AAM Holdco.

Read more: CCI Approves ₹20.24 Crore Settlement with Google in Android TV Antitrust Case

 

Other Approvals on the Same Day

The CCI also cleared two other transactions:

  • Kandhari Global Beverages Pvt Ltd has been permitted to acquire certain business divisions of Hindustan Coca-Cola Beverages in North Gujarat and Diu. Kandhari is currently engaged in beverage supply operations in Rajasthan.
  • 360 ONE Private Equity Fund has received approval to acquire equity shares in Bharti Axa Life Insurance Co. The deal will be executed in two stages—initial purchase of shares from Bharti Life Ventures, followed by a joint subscription in the insurance company.

Conclusion

The CCI’s decision allows the transactions to proceed, provided the parties implement the proposed structural changes to address regulatory concerns.

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.

IMF Cuts India’s FY26 Growth Forecast to 6.2% Amid Global Uncertainty

The International Monetary Fund (IMF), in its April 2025 update to the World Economic Outlook, has lowered India’s GDP growth estimate for FY26 to 6.2%, down from 6.5% projected in January. The revision comes amid growing trade tensions and global economic uncertainty.

Drivers Behind the Revision

According to the IMF, the outlook remains supported by private consumption, particularly in rural regions. However, heightened global trade disruptions and economic unpredictability have contributed to a downward adjustment of 30 basis points.

Consumer inflation in India is expected to ease to 4.2% in FY26 from 4.7% in FY25. For FY27, inflation is projected to decline further to 4.1%.

Broader Economic Projections

India’s longer-term economic trajectory is also under review. Between 2025 and 2050, growth is expected to decline marginally by 0.7 percentage points, although favourable demographics are likely to support the economy in the near term.

Comparison with Other Forecasts

India’s central bank recently cut its FY26 growth estimate to 6.5%, down from 6.7% in February. Some brokerages have projected the growth rate even lower, at 6.1%. The government’s Economic Survey has pegged the range between 6.3% and 6.8%.

Global Economic Context

The IMF has also revised global growth projections. The world economy is now expected to grow at 2.4% in 2025, down from 3.5% in 2024. This is 80 basis points lower than the January forecast. Trade growth is expected to slow to 1.7%.

Impact of Tariffs

Recent tariff hikes by the US, starting in January and culminating in widespread levies by April 2, have affected global growth projections. The IMF noted that these tariffs have increased global economic uncertainty and disrupted existing trade structures. The US effective tariff rate has now exceeded levels seen during the Great Depression.

Read more: IMF Raises Concerns Over Indian NBFCs’ High Exposure to Power and Infrastructure!

Conclusion

While India’s short-term outlook remains steady, global developments, particularly in trade policy are beginning to reflect in growth projections, with further adjustments possible in future updates.

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.

LG Electronics India to File Updated IPO Draft in May?

LG Electronics India is to submit an updated Draft Red Herring Prospectus (DRHP) to SEBI in early May. The Initial Public Offering (IPO) size is estimated at ₹15,000 crore and will be an offer-for-sale by LG Electronics Inc., the South Korean parent company.

IPO Structure and Shareholding

The public issue involves a 15% stake dilution by the parent. The entire equity share capital of the company is currently held by the promoter. As per the DRHP, the promoter holds 678,772,392 equity shares with a face value of ₹10 each. This includes six shares held by individuals acting as nominees for LG Electronics Inc.

Roadshows and SEBI Approval

The company has already conducted investor roadshows. SEBI granted its approval for the IPO in March 2025. The listing is expected to take place later in May, according to reports.

LG Electronics India reported a 14.8% increase in revenue for FY24, reaching $2.8 billion. Net profit rose by 43.4% compared to the previous year, according to regulatory filings.

Product Range and Services

According to reports, LG has an extensive product range in the consumer durables sector in India, excluding mobile phones. The company serves both B2C and B2B segments. It also provides after-sales services, including installation, repair, and maintenance.

The company operates two manufacturing facilities in India, one in Noida and another in Ranjangaon, Maharashtra. It is in the process of setting up a third plant in Sri City.

Read more: LG Electronics Prepares for $1.5 Billion India IPO with Roadshows

Listed Peers

As per the DRHP, listed peers include:

  • Havells: P/E 85.48
  • Voltas: P/E 221.53
  • Whirlpool: P/E 111.65
  • Blue Star: P/E 92.21

Conclusion

The updated IPO filing is part of LG Electronics India’s upcoming market activity, alongside ongoing manufacturing expansion and continued financial growth in FY24.

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.

SEBI Working on Tech Systems to Monitor Pump And Dump, Bulk Deals, Abnormal Trading

As per the NDTV Profit report, the Securities and Exchange Board of India (SEBI) is in the process of building technology tools to detect pump-and-dump schemes, track bulk deals, and identify abnormal trading activity. The project has been underway since last year, with some progress reported. The tools are being designed to generate alerts for suspicious trades and improve regulatory oversight.

Central Repository System Planned

A central repository system is also being developed with an aim to organise data more effectively and simplify inspection processes. This will support investigations and streamline the regulator’s access to trading records and related information.

AI Use in Document Review

SEBI is working on applying large language models(LLMs) to read and process documents submitted by companies, including draft red herring prospectuses (DRHPs). This was previously indicated by former SEBI Chairperson Madhabi Puri Buch. The idea is to automate the review process for public offerings and related filings.

IT Team 

The regulator has increased its in-house technology staff. In 2021, SEBI’s IT team had about 20 to 25 officers. By 2025, this number will have risen to nearly 100. The team is expected to grow further over the next five years as SEBI expands its digital operations.

Existing Alert Systems

SEBI already uses internal alert mechanisms for detecting insider trading and front-running. In a past case involving Ketan Parekh, SEBI’s systems flagged suspicious activity, leading to penalties totalling ₹65.7 crore.

Actions on Manipulative Trading

SEBI has recently passed orders against several entities involved in price manipulation and misleading trading practices. These include companies such as Pacheli Industrial Finance Ltd., Bharat Global Developers Ltd., and LS Industries. The new tech tools are being built to support faster detection of similar cases.

Read more: SEBI and DigiLocker Join Hands to Reduce Unclaimed Assets Securities Market!

Conclusion

SEBI’s current focus is on improving its surveillance and detection using technology. The measures are being developed to handle a growing number of market irregularities without relying on manual processes.

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.

Ashoka Buildcon Shares Surge on Receiving ₹568.86 Crore Contract from Central Railway

Ashoka Buildcon Limited has been issued a Letter of Acceptance by Central Railway for a gauge conversion project in Maharashtra. The contract covers the Pachora-Jamner section, covering approximately 53.3 kilometres. It excludes the Pachora yard and any road over-bridge works.

As of 9:49 AM on April 23, 2025, Ashoka Buildcon share price was trading at ₹202.67, a 2.35%, but down 1.51% over the past month and 14.78% over the past six months

Work Involved

The scope of the contract includes construction of earthwork, major and minor bridges, road under-bridges (RUBs), permanent way work (P. Way), and other civil works. The project will be executed under the engineering, procurement, and construction (EPC) model.

Contract Details

The contract was awarded by a domestic public sector entity, Central Railway. It is not classified as a related party transaction. The promoter group of Ashoka Buildcon has no interest in the awarding authority.

The total contract value is ₹568.86 crore, inclusive of Goods and Services Tax (GST). The execution period for the project is 913 days from the date of commencement.

Regulatory Disclosures

The information was shared with stock exchanges on April 22, 2025, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. 

Read More: Ashoka Buildcon Share Price Rise 3% on Securing ₹568.86 Crore Central Railway Project!

Financials

For the third quarter of FY25, Ashoka Buildcon reported revenue of ₹2,387.9 crore, a decrease from ₹2,657.1 crore in the same quarter of the previous year. Profit before tax for the quarter stood at ₹306.7 crore, reflecting a 62.4% year-on-year increase. EBITDA rose to ₹638 crore from ₹597 crore in Q3 FY24. The EBITDA margin expanded to 26.8% from 22.5% in the same period last year.

Conclusion

The new railway contract will be added to the company’s upcoming projects. Work is expected to proceed over the next two and a half years, with the usual compliance and execution structure.

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.

TCS and ICICI Securities Collaborate to Enhance Retail Trading Platform

ICICI Securities has entered into a partnership with Tata Consultancy Services (TCS) to upgrade its retail trading and brokerage platform. The announcement was made on April 22, 2025. This involves deploying TCS’s capital markets product, TCS BaNCS, as the core technology for this transition.

As of 9:25 am on April 23, 2025, Tata Consultancy Services share price was trading at ₹3,377.80, 1.91% increase, with a decline of 18.54% over the past six months and 8.72% over the past month.

Platform Features 

The upgraded platform will cover multiple functions essential to the brokerage business. This includes order management, clearing and settlement processes, real-time risk checks, and customer lifecycle management. It will also be integrated with stock exchanges such as NSE, BSE, and MCX for market connectivity. Additional features will support corporate actions, client onboarding, contract handling, and reporting mechanisms.

Implementation Context

TCS BaNCS is already used by several financial institutions and infrastructure providers. In India, TCS supports close to 30% of retail trading volumes through its technology offerings. The same platform also powers systems used by exchanges and central depositories across more than 25 global financial markets.

Statements and Internal Focus

ICICI Securities stated that adopting TCS BaNCS will involve modernising its core trading infrastructure. The focus is on aligning the platform with current operational requirements and expected trading volumes. TCS confirmed that the project scope includes integration with exchange systems and improvements in scalability.

Read More: Why Is ICICI Securities Being Delisted? Understanding the Merger with ICICI Bank!

Conclusion

The collaboration involves a technical revamp of ICICI Securities’ trading systems using TCS BaNCS. The project covers backend operations, exchange integration, and system upgrades to support the company’s trading and brokerage activities.

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.

UTI Mutual Fund Joins ONDC Network for Mutual Fund Distribution

UTI Asset Management Company (UTI AMC) has integrated with the Open Network for Digital Commerce (ONDC) in collaboration with fintech firm Cybrilla. This will allow UTI Mutual Fund to offer its investment products on the ONDC platform, a government-backed initiative to support digital commerce through an open, interoperable network.

Focus on Tier 2 and Tier 3 Cities

According to the reports, the partnership will help make mutual fund products accessible in areas that typically have limited access to formal financial tools. UTI AMC stated that ONDC’s infrastructure can help reach investors in smaller towns and rural regions, where digital access to investment platforms has traditionally been limited.

Platform and Regulatory Structure

ONDC is a project of the Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce. It supports sellers and service providers across sectors by standardising digital infrastructure and ensuring platform neutrality. UTI AMC is regulated by SEBI and manages a range of mutual fund schemes along with alternative investment funds through its subsidiaries.

Role of Cybrilla in Integration

The integration is being facilitated by Cybrilla, a financial technology company that provides backend infrastructure for investment platforms. Cybrilla has worked with other mutual funds in the past to onboard them onto ONDC.

Axis Mutual Fund Also Onboard

Earlier in April, Axis Mutual Fund also joined ONDC using Cybrilla’s support. The fund house has made several of its schemes available on the network via partner platforms, as part of its stated goal to simplify access to mutual fund products.

Read More: UTI Mutual Fund Introduces New Benchmarks for Select Schemes!

Conclusion

UTI AMC’s addition to the ONDC network is part of a broader trend of mutual funds joining open digital infrastructure. This is to distribute products beyond conventional platforms and improve digital access for retail investors in underserved regions.

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. 

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

NFO Alert: SBI Mutual Fund Launches New Arbitrage-Based Fund of Fund

SBI Mutual Fund has introduced a new open-ended scheme named the SBI Income Plus Arbitrage Active Fund of Fund. The New Fund Offer (NFO) will open on April 23, 2025, and close on April 30, 2025. The fund follows a Fund of Fund structure, meaning it will invest in other mutual fund schemes rather than directly in market instruments.

Structure and Allocation

The scheme will invest in a mix of actively managed debt-oriented schemes and arbitrage mutual fund schemes. According to the fund’s investment strategy, 50-65% of the portfolio will be allocated to debt-oriented mutual fund schemes. Between 35%-50%  will go into arbitrage schemes. Up to 5% of the portfolio may be invested in money market instruments, tri-party repo, reverse repo, and cash equivalents.

Benchmark and Risk Profile

The benchmark for the scheme is a composite index consisting of 65% Nifty Composite Debt Index and 35% Nifty 50 Arbitrage Index. The risk classification for the scheme is low to moderate, as per the scheme’s riskometer.

Application Terms

The minimum investment required is ₹5,000. Further investments can be made in multiples of ₹1,000. The scheme offers systematic investment plan (SIP) options with multiple frequency choices, including daily, weekly, monthly, quarterly, semi-annual, and annual. There is no lock-in period, and no exit load will be applicable for redemptions.

Read More: How Is SBI Jan Nivesh Different from Other SBI Mutual Fund Schemes?

Fund Management

The scheme will be managed by Ardhendu Bhattacharya, who has been associated with SBI Mutual Fund since 2019 and currently oversees several debt and hybrid mutual fund products.

About the Fund House

SBI Mutual Fund is a joint venture between the State Bank of India and Amundi Asset Management. It is currently the largest asset management company in India by assets under management, with total AUM exceeding ₹10 lakh crore.

Conclusion

The fund is available for subscription for a limited period in April 2025 and offers a mixed allocation approach through investments in debt and arbitrage mutual fund schemes.

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. 

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