NDTV Profit Pulse On April 01 —Top 8 Stories At 8 P.M. Under 8 Minutes

Among the top stories today, Finance Minister Nirmala Sitharaman issued a written clarification on the State's decision to discontinue gold bonds in the last fiscal.

The Reserve Bank of India is set to inject Rs 80,000 crore liquidity through open market operations, and the Securities and Exchange Board of India will be giving more time to prepare for norms governing retail investors' entry into algo trading.

Here's a quick roundup of today's key headlines:

Clarification On SGB Discontinuation

Finance Minister Nirmala Sitharaman attributed the discontinuation of sovereign gold bonds in the previous fiscal was due to rising borrowing costs, especially gold price volatility and global economic challenges.

The government securities market provided a more cost-effective way to raise resources, reducing the need for SGB issuances, said the Minister in a Rajya Sabha session on Tuesday.

Read more about these government-backed bonds and the last time they were issued by the Indian government.

RBI's Latest OMO

The Reserve Bank of India announced fresh purchase auctions of government securities under open market operations amounting to Rs 80,000 crore on Tuesday.

This infusion will carried out in four tranches of Rs 20,000 crore each, on April 3, April 8, April 22 and April 29, as per a release.

Read more about the RBI's latest liquidity injection measures.

SEBI Extends Retail Algo Trading Rules Timeline

The Securities and Exchange Board of India gave more time to prepare for the rulebook detailing retail investors' entry into algo trading. The standards, which were previously supposed to come into effect on April 1, have now been postponed to Aug. 1.

In a system that will not be regulated by the SEBI directly, the stock exchanges will have the algo providers registered with them. Post this, only the registered providers will be onboarded by the brokers, and they will have the responsibility to oversee any complaints related to algos.

Click here to learn more about how retail investors can access algo trading.

GST March Collection

Gross goods and services tax collections rose 9.9% in March to Rs 1.96 lakh as compared to the year-ago period, as per official data on Tuesday.

Sequentially, collections were 6.8% higher than the Rs 1.84 lakh crore recorded in February. Gross GST revenue in March included Rs 38,100 crore from Central GST, Rs 49,900 crore from State GST, Rs 95,900 crore from Integrated GST and Rs 12,300 crore from compensation cess.

Which states contributed the highest to GST collections? Click here to read.

Maharashtra To Finally Get Bike Taxis

The Maharashtra Cabinet approved the transport department's proposal to allow bike taxis in the state, reported NDTV on Tuesday.

The proposal ensured that only electric bikes will be allowed to take on pillion passengers, as a part of the state government's initiative to promote electric vehicles.

Read more on the Transport Department's initiative to generate employment among MMR riders.

US Stocks Decline Ahead Of Tariff Announcements

US equities fell, hinting at another volatile session on Wall Street, as the arrival of tariffs loomed over markets, reported Bloomberg.

President Donald Trump will announce his reciprocal tariff plan on Wednesday, but the extent of his levies still remain unclear, they said.

Back home, indices ended on a one-week low as both the Nifty and the Sensex closed lower for the second consecutive session. The NSE Nifty 50 ended 353.65 points or 1.5% down at 23,165.70, the lowest level since March 20. The BSE Sensex ended 1,390.41 points or 1.80% lower at 76,024.51, the lowest since March 21.

Check out the full market wrap here.

March Auto Sales Update

Maruti Suzuki India Ltd. and Hyundai Motor India Ltd. witnessed a rise in sales in the month of March, while Tata Motors's sales largely remained flat, according to exchange filings on Tuesday.

Ashok Leyland Ltd. and TVS Motor Co. also reported a growth in sales for the period.

Follow the live blog for business updates on India's automotive space for the month of March.

Vodafone Idea Rescue 2.0

The government's call to convert Rs 36,950 crore of Vodafone's spectrum liabilities may provide a breather for another 18–24 months to the troubled telecom services provider, but it may not be sufficient, says Executive Editor Sajeet Manghat.

The recent conversion of spectrum liability to equity takes the government stake in Vodafone Idea close to 49%, with the promoter stake falling to just above 25%. The last time such a conversion was carried out in February 2023.

Read more to know how this conversion may pan out for the debt-ridden telco.

Here are other top stories that you cannot miss

• India And Chile Start Talks On New Trade Agreement

• SEBI Considering New Rating Framework For Municipal Bonds To Enhance Risk Assessment

• IndiGo Offering Affordable Tickets But Cost Needs To Be Factored, Says CEO Pieter Elbers

• Sustainability In Focus: Why India Needs To Diversify Clean Energy Sources Beyond Solar Energy

• Gen Z's Multi-Hyphenated Hustles Win Them The Extra Bank