Axis Asset Management Company (AMC) has elevated R Sivakumar as its Chief Investment Officer (CIO), effective immediately, as part of an internal succession plan.
Sivakumar will lead the fund house’s overall investment strategy, guide the launch of new fund ideas and oversee the investment teams, the company said in a statement on Thursday.
The move follows the decision of Ashish Gupta, who served as CIO and headed the investments team, to step down to pursue other professional and personal interests. Sivakumar has been associated with Axis AMC since its inception in 2009 and has played a key role in the firm’s growth into one of India’s largest asset managers.
The fund house manages assets worth over Rs 3.75 trillion as of February 2026.
The government has set a target of procuring 30.3 million tonnes (mt) of wheat from farmers for the Central Pool during the 2026–27 rabi marketing season beginning April 1, almost at the same level as last year.
In the 2025–26 season, the Centre procured around 30.03 mt of wheat from about 2.6 million farmers.
The procurement target for the coming season was decided at a high-level meeting held at the Ministry of Food, attended by representatives from states and officials of the Food Corporation of India (FCI).
According to an official statement, several issues related to procurement, storage and distribution of foodgrains were discussed at the meeting.
The government has also fixed a target of procuring 7.6 mt of rice in the 2025–26 rabi procurement season and asked states to purchase 0.77 mt of millets directly from farmers.
The statement said the government has also launched a pilot in five states for supplying improved rice with up to 10 per cent broken grains, and states have been asked to provide feedback on its implementation.
Officials also reviewed technology-driven initiatives aimed at strengthening the Public Distribution System (PDS) supply chain, the statement added.
Union Home and Cooperation Minister Amit Shah inaugurated and laid the foundation stone for development projects worth over 3,770 crore rupees in Odisha yesterday.
These include development initiatives of the National Dairy Development Board (NDDB), the Odisha State Cooperative Milk Producers’ Federation (OMFED) as well as various projects of the state government.
Mr Shah also inaugurated Sulphuric Acid Plant-III at Paradip unit of Indian Farmers Fertiliser Cooperative (IFFCO) Limited. The Home Minister also laid the foundation stone for a campus of the National Forensic Sciences University (NFSU) in Odisha and inaugurated its temporary campus.
Union Minister for Agriculture and Farmer’s Welfare and Rural Development Shri Sivaraj Singh Chouhan will inaugurate a National Stakeholders’ Meet on the Coconut Promotion Scheme at IIT Madras, in Chennai on 7 March 2026.
The Union Minister will provide a policy vision and guidance for the effective implementation of the scheme.
He will also interact with the coconut farmer leaders. Senior policymakers, including the Secretary of the Department of Agriculture & Farmers’ Welfare, Government of India, and Secretaries of Agriculture and Horticulture from major coconut-growing Southern States, will participate in the deliberations.
Elected representatives and senior officials of the Coconut Development Board will also be present.
The conference will witness the participation of more than 1,000 coconut farmers, Farmer Producer Organisations (FPOs), researchers, entrepreneurs, and policy stakeholders from across the country.
The Stakeholders’ Meet is being convened in the backdrop of the announcement of the Coconut Promotion Scheme in the Union Budget 2026–27, aimed at revitalising and ensuring the sustainable development of India’s coconut sector, which supports the livelihoods of nearly 30 million people, including about 10 million coconut farmers.
The Karnataka government on Friday proposed banning social media use for children below 16 years of age, becoming the first Indian state to take concrete steps to implement the plan. Andhra Pradesh too announced its intention to introduce curbs on social media use for those under 13.
This comes within three months of Australia banning social media for under 16 for health and safety reasons. Several other countries in Europe are considering similar moves. The government is also discussing possible regulations for the 13–16 age group. A decision will be taken based on wider consensus.
Bank customers losing up to ₹50,000 in digital frauds may soon get relief, with the Reserve Bank of India (RBI) proposing compensation of up to ₹25,000 as a one-time measure, even if the loss occurred due to the customer’s negligence, provided the complaint is lodged within five days of being defrauded.
The draft makes it mandatory for banks to send instant SMS alerts to customers for all electronic banking transactions of value more than ₹500.
India’s foreign exchange reserves surged by more than 4.88 billion US dollars (USD) to an all-time high of over 728.49 billion dollars during the week ended on February 27. According to the Reserve Bank of India, the value of gold reserves, a key component of foreign exchange reserves, increased by over 4.14 billion US dollars to 131.63 billion dollars.
Foreign Currency Assets (FCA), the largest component of forex reserves, increased by 561 million US dollars to over 573.12 billion dollars. Expressed in dollar terms, the FCA includes the effect of appreciation or depreciation of non-US units, including the euro, pound, and yen held in the foreign exchange kitty.