17 Mar 2026

The Reserve Bank of India has levied an INR 3.1 lakh penalty on Cashfree Payments India Pvt Ltd for non-compliance with regulatory directives. The inspection covered the period from April 2024 to June 2025, and the penalty followed an initial notice and confirmation of violations. The RBI noted that the action addresses deficiencies in statutory and regulatory compliance, without challenging the validity of transactions with customers. Cashfree failed to follow specific guidelines for payment aggregators and gateways, and the penalty was applied under powers provided by the Payment and Settlement Systems Act, 2007.Read more

17 Mar 2026

The World Bank has agreed to provide USD 300 million to support Uttar Pradesh's Clean Air Plan, aiming to improve air quality while creating jobs for youth and women. The UP Clean Air Management Program will focus on transport, agriculture, and industry, installing nearly 200 new air quality monitors and transitioning over 700 brick kilns to efficient technology. The initiative will also provide clean cooking solutions to 3.9 million households and promote efficient fertiliser use among farmers. The programme leverages around USD 150 million in private investment, contributing to both economic growth and environmental sustainability.Read more

17 Mar 2026

Brigade Enterprises Ltd announced that its flexible workspace brand BuzzWorks has leased office space in Hyderabad to MyComplianceOffice. The deal adds another enterprise client to BuzzWorks managed office portfolio in the city's growing commercial market. BuzzWorks operates as Brigade's managed and flexible workspace platform, catering to corporates seeking ready-to-move office environments. The transaction reflects continued demand for managed offices from global firms expanding their presence in India. Brigade Group has been steadily scaling its flexible workspace segment, particularly in major technology hubs such as Hyderabad, Bengaluru and Chennai, as companies increasingly prefer plug-and-play workspaces.Read more

17 Mar 2026

Cella Space Ltd has received board approval to undertake real estate transactions through the creation of subsidiaries. The company informed that its board has authorised the purchase and disposal of real estate assets by forming subsidiaries and executing subsequent sales through these entities. The move indicates a structured approach to managing property-related investments and transactions within the company's corporate framework. Such arrangements are often used by companies to manage development projects, asset transfers, and ownership structures more efficiently. The decision forms part of the company's broader corporate and investment planning strategy.Read more

17 Mar 2026

Managed workspace provider COWRKS, part of Brookfield Properties, has leased 80,000 square feet of office space in Bellandur, Bengaluru to fintech company Cashfree Payments for its new corporate headquarters. The facility will accommodate around 800 desks within the managed office environment. The transaction adds to COWRKS expanding portfolio of flexible office spaces across major Indian cities. The company currently operates 45 centres across eight cities, with a total leasable area exceeding 2.1 million square feet and more than 26,500 desks under management. The leasing comes amid sustained demand for Grade-A office spaces and flexible work environments, particularly from technology companies and global firms establishing global capability centres across India's leading office markets.Read more

17 Mar 2026

The Karnataka government has approved industrial investment proposals worth INR 4,824.31 crore across 37 new projects and two expansion proposals during the 158th meeting of the State Level Single Window Approval Committee. The projects are expected to generate about 14,525 employment opportunities across 13 districts including Vijayapura, Bagalkote, Chitradurga, Kolar and Ramanagara. According to the state industries department, the approved investments cover a range of sectors such as IT infrastructure, technical textiles, compressed biogas, aerospace, electronics manufacturing, jewellery production, software services and hospitality development. Of the total approvals, 22 large and medium projects involve investments exceeding INR 50 crore, while 15 projects fall in the INR 15-50 crore range. The approvals form part of the state government's strategy to expand industrial capacity and attract investments across multiple districts.Read more

17 Mar 2026

The Fifth State Finance Commission in Karnataka has recommended allowing property owners to pay property tax through monthly EMI-style instalments instead of a single annual payment. The proposal aims to reduce the burden of lump-sum payments and improve compliance among taxpayers in Bengaluru and other urban local bodies under the Greater Bengaluru Authority. The commission has also suggested measures such as door-to-door property surveys, digital verification through e-khata records, drone mapping and voluntary disclosure schemes to identify unassessed properties. Officials estimate that nearly 5 lakh properties remain outside the tax net, and bringing them under assessment could generate around INR 700 crore annually.Read more

Ludhiana News Desk

17 Mar 2026

The Ludhiana Municipal Corporation has introduced a doorstep property tax collection service to make payments easier for residents and improve recovery of pending dues. Under the system, civic teams equipped with handheld POS machines will visit residential and commercial properties to assess and collect tax on the spot. The corporation has deployed 48 machines across four municipal zones and allows payments through cash, cards, UPI, bank drafts, and digital transfers with instant receipts. Officials said the move is aimed at recovering pending payments and helping the civic body reach its annual property tax target of INR 160 crore.Read more

17 Mar 2026

The Prayagraj Municipal Corporation has approved a 40% rebate on house tax for residential buildings that are more than 20 years old within the municipal limits. The decision was passed during a municipal house meeting and will be implemented from April 2026. Eligible property owners will receive the rebate automatically without submitting any application. The move is expected to benefit residents living in older neighbourhoods where many structures have crossed two decades. During the same meeting, the civic body also revised its 2025-26 budget, increased allocations for water services, and proposed a one-time settlement scheme to recover long-pending property tax dues.Read more

16 Mar 2026

The Punjab government has earmarked INR 1,000 crore in the state budget to strengthen urban infrastructure through the Municipal Development Fund (MDF), marking a substantial increase from the previous allocation. The funding will be made available to urban local bodies across the state to support the creation and upgrading of civic infrastructure such as roads, water supply systems, sewerage networks, drainage, sanitation and solid waste management. State officials indicated that the enhanced allocation is intended to help municipalities address growing pressure on civic services caused by urban population growth and expanding city limits. A portion of the fund will also be used for the operation and maintenance of water supply and sewerage infrastructure to ensure continued service delivery. The initiative forms part of Punjab's broader urban development strategy aimed at improving municipal infrastructure and service efficiency.Read more