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    IDFC FIRST Bank enables Direct Tax payments through UPI, cards, net banking and branches
    Sensex slumps 1,248 pts as IRDAI proposal hits financial shares; rising crude, US yields weigh
    Bajaj Finance Personal Loan Offers Rs. 40,000 to Rs. 55 Lakh with Tenures up to 108 Months
    MCA issues advisory - cautions public against high-return promises by non-compliant Nidhi Companies
    Banks likely to deploy excess liquidity over next few months amid strong credit demand: RBI Deputy Guv
    Assam Cabinet approves rules for compulsory registration of Muslim marriages
    The Indian Economy in an Ever More Volatile and Complex World - Special Address by Dr. Poonam Gupta, Deputy Governor, Reserve Bank of India at the 13t...
    Technopark software exports rise 17.3 pc to Rs 17,092 cr in FY26
    IIEST, Shibpur partners with TCS to launch state-of-the-art centre of excellence in AI
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    DRI seizes 86 live Tokay Geckos in Assam in a crackdown on wildlife trafficking; two arrested
    DRI seizes 10,000 kg of firecrackers worth Rs. 3 crore at Nhava Sheva port
    CCI approves acquisition of certain additional equity share capital of IIFL Capital Services Ltd by FIH Mauritius Investments Ltd.
    CCI approves acquisition of Onesto Labs Private Limited by L’Oréal India Private Limited
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September 24, 2026
Show AI Summary
Direct tax payment gateway integration enables nationwide payments through digital options, branch channels, and customers' respective internet-banking services.
IDFC FIRST Bank's payment-gateway integration for Central Board of Direct Taxes collections enables Direct Tax payments through UPI, credit cards, debit cards, Retail and Corporate Internet Banking, and branch-based cheque, demand draft, or cash payments. Customers of other banks may use their own internet-banking facilities through the gateway. Taxpayers create a challan on the Income Tax e-Filing Portal, select Payment Gateway and IDFC FIRST Bank, choose a payment mode, complete payment, and download or print the paid challan. Payment confirmations are also accessible.
September 24, 2026
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Insurance distribution controls target commissions, expenses and loan-linked sales, reshaping bancassurance arrangements and intermediary remuneration structures.
IRDAI's consultation proposals for insurance distribution contemplate lower Expenses of Management limits, tighter commission controls, and greater control over loan-linked insurance practices. The prospective framework concerns insurer and intermediary remuneration, distribution expenses, and bancassurance fee structures. Reported concerns centre on potential effects on insurer earnings, intermediary economics, and lending-linked distribution arrangements; the measures are not described as final operative obligations or enforcement action.
September 24, 2026
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Personal loan eligibility and repayment planning: loan variants and digital applications remain subject to assessment, verification, and applicable terms.
Eligible customers may seek collateral-free personal loans within stated amount, tenure and interest-rate ranges. Loan amount, interest rate and tenure determine the EMI and total interest payable, while calculator results are estimates rather than final repayment obligations. Eligibility includes nationality, age, employment and credit-score conditions, but approval, final pricing and loan amount remain subject to lender assessment, document verification and applicable terms. Online applications require personal, financial and employment details and KYC verification.
September 24, 2026
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Nidhi company deposits lack insurance protection, requiring verification of government declaration before relying on high-return promises.
Each company seeking to function as a Nidhi must file Form NDH-4 for declaration or updated Nidhi status and comply with the Companies Act, 2013 and applicable Nidhi Rules. Nidhi companies may accept deposits and grant loans only to members. Public investors should verify declared Nidhi status rather than rely on unusually high-return promises, agent representations, or informal assurances. Deposits with Nidhi companies are not insured by the Deposit Insurance and Credit Guarantee Corporation, and recovery may be difficult where a company fails or fraud occurs.
September 24, 2026
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FCNR(B) liquidity deployment remains within banks' discretion, guided by credit pipelines, asset-liability positions, and prudent underwriting standards.
Banks retain full discretion to deploy liquidity mobilised through FCNR(B) deposits, based on their credit pipeline, lending proposals, liquidity outlook and asset-liability position. No sector-specific direction applies to use of these funds. FCNR(B) deposits are fixed-term foreign-currency deposits in which principal and interest are repayable in the same foreign currency, protecting non-resident depositors from direct rupee exchange-rate risk. Continued prudent credit appraisal and underwriting standards are expected.
September 24, 2026
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Compulsory Muslim marriage registration shifts registration to registrars under a statewide procedural framework, with local officials authorised when needed.
Compulsory registration of Muslim marriages will operate under the Assam Muslim Marriage Registration (Compulsory) Rules, 2026, framed under the Assam Compulsory Registration of Muslim Marriage and Divorces Act, 2024. Registration will be undertaken by registrars, with panchayat-level officials potentially authorised where application volumes require additional capacity. The framework addresses the registration forum after kazis were barred from registering Muslim marriages.
September 24, 2026
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Macroeconomic resilience supports fiscal consolidation, financial-sector stability, and orderly foreign-exchange management through persistent global and market shocks.
Policy management emphasises clear communication, policy certainty, macroeconomic and financial-sector stability, efficient use of buffers, and sustained structural reform. Fiscal prudence is treated as necessary to avoid unsustainable stimulus and preserve long-term stability. External-sector resilience rests on services exports and remittances, while oil and gold shocks and weaker capital inflows have created temporary balance-of-payments pressure. Further improvement is linked to lower oil dependence, export diversification, trade agreements, capital inflows and orderly foreign-exchange market management.
September 24, 2026
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Software export growth strengthens IT ecosystem as campus expansion supports startup activity, infrastructure development, and skilled employment.
Software export revenue generated by Technopark reached Rs 17,092 crore in FY 2025-26, reflecting year-on-year growth of approximately 17.3 per cent. Growth is attributed to IT infrastructure, a skilled talent base, and company performance. Technopark also operates as an IT and ITeS hub and startup ecosystem centre, with ongoing campus development intended to expand its position among major IT hubs.
September 24, 2026
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Artificial intelligence centre of excellence partnership advances industry-aligned training, supervised internships, startup mentorship, and applied research collaboration.
IIEST Shibpur and Tata Consultancy Services have entered into a Memorandum of Understanding to establish an Artificial Intelligence Centre of Excellence at the Electrical Engineering Department's high-performance computing laboratory. The collaboration supports industry-aligned training, professional certifications, practical projects, supervised internships, startup mentorship, curriculum benchmarking, and applied research in natural language processing, computer vision, image processing, and advanced data analytics.
September 24, 2026
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Money-laundering searches prompt protests over alleged political misuse while operations continue at public development offices and residences.
Enforcement Directorate search and survey operations connected with a money-laundering investigation continued at development authority offices and premises linked with housing administration, a realty company, and private residences. AAP workers protested against the searches, alleging political and administrative pressure through central investigative agencies. The party further alleged that the operations could disrupt the development authority's functioning and impede Punjab government welfare schemes.
September 24, 2026
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Money-laundering investigation procedure raises allegations over FIR registration, conflict concerns, and the choice between police, vigilance, or federal inquiry.
A police inquiry, rather than a Vigilance inquiry, was directed following an Enforcement Directorate communication seeking registration of an FIR for cognizable offences. It was contended that FIR registration should be dealt with by the police and that governmental or ministerial intervention would raise concerns where a person facing allegations is involved in deciding the investigative course. A transfer to a federal investigative agency was sought on grounds of investigative independence and perceived conflict of interest.
September 24, 2026
Show AI Summary
Trade truce extension maintains tariff pauses and export-restriction rollbacks while negotiations continue on broader economic commitments.
United States-China trade relations may remain governed by the Busan Agreement through January 10 under a stated two-month extension, though Chinese official confirmation is pending. The arrangement maintains pauses on elevated tariffs and prior rollbacks of restrictions affecting critical minerals and high-technology exports. Negotiations may produce a broader economic package or further continuation of existing terms, while implementation of agreed commitments is under review. The parties have also proposed reciprocal alerts on AI-related hacking incidents involving national-security concerns.
September 24, 2026
Show AI Summary
Gold Smuggling Enforcement: Concealed foreign-origin gold recovered from vehicles and a traveller, with arrests under customs law.
Gold-smuggling enforcement involved the seizure of approximately 21 kg of foreign-origin gold in two operations and the arrest of five persons under the Customs Act, 1962. Gold bars were recovered from sophisticated vehicle-chassis cavities, while gold bars and cut pieces were recovered from a passenger's specially designed cotton waist belt. The operations concerned suspected cross-border gold movement and targeted organised smuggling networks using sophisticated concealment methods.
September 24, 2026
Show AI Summary
Cross-border gold smuggling enforcement resulted in Customs Act seizures after coordinated recovery of foreign-origin gold from border locations and a passenger.
Cross-border smuggling of foreign-origin gold through the Bangladesh route led to coordinated recoveries and seizures under the Customs Act, 1962. Gold recovered near the India-Bangladesh border was taken over for customs proceedings, including a seizure under Section 110. Foreign-origin gold concealed by a train passenger was also recovered and seized, with investigation indicating its smuggling from Bangladesh.
September 24, 2026
Show AI Summary
BRICS tax cooperation creates standing platforms for international taxation, revenue statistics, professional capacity building and peer learning.
India-led BRICS tax cooperation established standing Working Groups on International Taxation and Transfer Pricing and Revenue Statistics, providing institutional platforms extending beyond individual Chairships. It also institutionalised an annual Young Tax Professionals Capacity Building Programme, launched the BRICS Tax Cross-Learning Lab for peer learning on client-centric administration and human-resources practices, and approved the Terms of Reference for the BRICS Tax Support Network.
September 24, 2026
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Wildlife trafficking enforcement applies protected-species safeguards to seized Tokay Geckos and enables further statutory action against suspected illegal trade.
Wildlife-trafficking enforcement led to interception of two persons and seizure of 86 live Tokay Geckos under the Wildlife (Protection) Act, 1972. Tokay Geckos receive Schedule I protection under that legislation and are listed in Appendix II of CITES, regulating international trade. The persons and recovered geckos were transferred to the Mariani Range Forest Office for further action.
September 24, 2026
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Restricted firecracker imports concealed through misdeclaration trigger seizure and criminal investigation under customs enforcement law.
Concealment of restricted firecrackers within an import container declared as bottles and wallpaper resulted in customs seizure under the Customs Act, 1962. Firecracker imports are restricted under the Foreign Trade Policy and require valid Directorate General of Foreign Trade authorisation and a Petroleum and Explosives Safety Organisation licence under the Explosives Rules, 2008. Investigation into attempted clandestine clearance led to the arrest under the Customs Act of a key syndicate member alleged to have orchestrated the import.
September 24, 2026
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Merger-control approval permits FIHM's phased acquisition of IIFL Capital Services equity through subscription, open offer and promoter purchase.
Merger-control approval permits FIHM to acquire certain additional equity share capital of IIFL Capital Services through a preferential issue on a private-placement basis and through shares tendered in a mandatory open offer. FIHM may also buy shares from the target's promoters if its aggregate shareholding with HWIC remains below the Target Shareholding after these steps.
September 24, 2026
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Full ownership acquisition in beauty and personal care receives competition approval for skin care and hair care operations.
Competition approval covers L'Ore al India Private Limited's acquisition of the entire shareholding in Onesto Labs Private Limited. The proposed combination concerns India's beauty and personal care sector and places the Target under the Acquirer's full ownership. Both entities operate in beauty and personal care products, including skin care and hair care.
September 23, 2026
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Advance disbursement of central government pay addresses anticipated banking disruption, with subsequent adjustment against the following month's entitlements.
Advance disbursement of September 2026 salary, wages and pensions is authorised on 25 September for central government employees, industrial employees and pensioners because of the proposed bank strike. Payments constitute advance payments and must be adjusted after full monthly entitlements are determined, with any adjustment made from October salary or wages. End-of-month banking transactions should, where feasible, be processed in advance.

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Customs, DGFT & SEZ

14 FDI PROPOSALS CLEARED

October 19, 2007

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14 FDI PROPOSALS CLEARED "

Finance Minister, Shri P. Chidambaram has approved 14 Foreign Direct Investment proposals recommended by Foreign Investment Promotion Board (FIPB) in its meeting held on 12th October, 2007. The approval amounts to Rs. 1257.3145 crore.  The proposals related to Ministries/Departments, namely, Bio-technology, Commerce,  New & Renewable Energy,  Industrial Policy & Promotion, Information Technology,   Micro, Small & Medium Enterprises, Telecommunications and  Economic Affairs. The major investment proposals pertain to the Ministries/Departments of New & Renewable Energy Telecommunications and Economic Affairs. 

The details of the proposals approved are as follows:

Sl. No.

Name of the applicant

Particulars of the proposal

FDI/NRI inflows (Rs. crore)

BIO-TECHNOLOGY

1

M/s. Intas Biopharmaceuticals Ltd, Ahmedabad

Induction of foreign equity in the company engaged in manufacture of drugs and pharmaceuticals, based on recombinant DNA Technology.

0.6167

COMMERCE

2 

M/s.  Bohler International GmbH, Austria

To set up a WOS to undertake

(i) wholesale cash and carry trading of ores and metals;

(ii) stocking, distribution, cutting, machining and heat treating of special steels and

(iii) wholesale cash and carry of special steels. Proposal attracts Press Note 1 (2005 series)

11.00

NEW & RENEWABLE ENERGY

3

M/s. Greenko Mauritius

Conversion  of operating company viz., M/s. Balaji Biomass Power (p) Ltd. into operating-cum-holding company to make downstream investments in power projects

480.00

INFORMATION TECHNOLOGY

4

M/s. Wortal Technologies Pvt. Ltd. Bangalore

Transfer of shares by way of share swap, for the purpose of acquiring an US based company Wortal Technologies Inc.  The company is engaged in design and development of virtual web portal environments and internet presence technologies and applications

No  inflow

5

M/s. Russell Square Holding BV, Netherland

Induction of 100% foreign equity in an Indian company Quasar Media Private Limited engaged in Advertising besides other activities.  Proposal attracts Press Note 1 (2005 series)

0.015

MICRO, SMALL & MEDIUM ENTERPRISES

6

M/s. Eldiar India Pvt. Ltd. Mumbai

Induction of 97% foreign equity by Eldiar 2 Private Limited, Mauritius and Depa Mauritius Pvt Ltd, in the company proposed to be engaged in the manufacture of items reserved for small scale sector

58.20

ECONOMIC AFFAIRS

7

M/s. Autoline Industries Limited, Pune

Transfer of shares by way of share swap for acquiring 51% shares in a US company Detroit Engineered Products Inc.

No  inflow

8

M/s. Goldman Sachs Asset Management L.P. USA

Investment of foreign equity in an asset management company engaged in NBFC activities including but not limited to investment advisory services, asset management services, portfolio management services etc.; and a trustee company for a mutual fund to be registered with SEBI. Proposal attracts Press Note 1 2005 series

200.00

INDUSTRIAL POLICY & PROMOTION

9

M/s. Siemens VDO Automotive Components Pvt. Ltd.

Formation of a new company with 100% foreign equity by Siemens AG, Germany by restructuring the activities of existing venture Siemens Limited.  The company to be engaged in designing, developing, manufacturing, buy, sale, lease, hire, purchase, distribute, assemble, export, import, repair of automotive components.   Proposal attracts Press Note 1 (2005 series)

0.01

10

M/s. Future Capital Holdings Ltd.

Induction of additional foreign equity  in a holding company through IPO

6.4228

11

M/s. GFT Technologies (I) Pvt. Ltd.

Conversion of operating company into an operating-cum-holding company and forming a 100% owned downstream company. Engaged in development of system software's application software and other computer software.

0.05

INFORMATION TECHNOLOGY

12

M/s. Aricent Technologies (Holding) Ltd.

Issue of shares by way of merger of two companies - Flextronics and Future Software, as per the scheme approved by High Court.

No inflow

TELECOMMUNICATIONS

13

M/s. Essar Telecommun-ication Holdings Limited, Mauritius

Induction of foreign equity upto 100% in a company engaged in  the activities of infrastructure provider IP-I category

500.00

COMMERCE

14

M/s. ICD Ltd, Hong Kong

To set up a WOS to undertake business involving bulk import, installation, testing, maintenance etc. of security systems, under the brand name 'ICD Security Solutions'

1.00

 

Total

 

1257.3145

The following 6 (six) proposals have been recommended to be deferred:

Sl. No.

Name of the applicant

Particulars of the proposal

1

M/s. South Asia Multi-Media Technologies Ltd, Mumbai

Induction of foreign equity in a company engaged in FM Broadcasting services

2

M/s. Sical Infra Assets Ltd, Chennai

Induction of foreign equity upto 26% in investing companies in infrastructure

3

M/s. Bonsai International Pvt. Ltd. Mumbai

 Induction of FDI upto 31.67% in an investing company

4

M/s. Millennium India Acquisition Company Inc. USA

Induction of foreign equity in two NBFC companies having subsidiaries engaged in security market as stock broker, distribution of mutual fund units, commodity trading, insurance broking and merchant banking  

5

M/s. Avens Properties Private Limited, New Delhi

Induction of FDI in an investing company to make Investments  in SEZs and Indl. Parks (including IT Parks), through downstream investments in project companies to carry out the development activity.

6

M/s. Jalore properties Private Limited, New Delhi

Induction of FDI in an investing company to make Investments  in SEZs and Indl. Parks (including IT Parks), through downstream investments in project companies to carry out the development activity.

In the following 1(one) proposal the applicant has been advised to first approach RBI:

Sl. No.

Name of the applicant

Particulars of the proposal

1

M/s. exlService.com (India) Pvt. Ltd.

Post-facto approval for conversion of operating company into operating-cum-holding company which is engaged in the Internet and voice based customer care operations, transaction processing and software development and to act as a holding company to hold investments in subsidiaries and joint ventures.

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Acts Income Tax