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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
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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
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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
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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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Trump, Musk's dismantling of government is shaking foundations of US democracy

February 5, 2025

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Washington, Feb 5 (AP) When Elon Musk debuted the Department of Government Efficiency recently at the Capitol, House Speaker Mike Johnson enthusiastically predicted the coming Trump administration would bring “a lot of change around here.” Three weeks in, the change the Trump administration has brought is a disruption of the federal government on an unprecedented scale, dismantling longstanding programmes, sparking widespread public outcry and challenging the very role of Congress to create the nation's laws and pay its bills.

Government workers are being pushed to resign. Entire agencies are being shuttered. Federal funding to states and nonprofits was temporarily frozen. And the most sensitive Treasury Department information of countless Americans was opened to Musk's DOGE team in an unprecedented breach of privacy and protocol.

“This is an erosion of our democracy,” said Brian Riedl, a longtime economic adviser to conservative Republicans, now at the Manhattan Institute think tank.

President Donald Trump has tapped Musk, the world's richest man, to take on inner workings of the world's oldest democracy, and so far the results are stunning, if not alarming and unlawful, being challenged in dozens of court cases nationwide.

Congress is proving little match for DOGE as wary lawmakers watch it march through the bureaucracy. Instead, a rush of lawsuits is demanding interventions to stop the Republican president's team from unilaterally gutting government. And protests are erupting outside government agencies and clogging the congressional phone lines.

“Whatever DOGE is doing, it is certainly not — not — what democracy looks like or has ever looked like in the grand history of this country,” Senate Democratic leader Chuck Schumer said.

"An unelected shadow government is conducting a hostile takeover of the federal government,” Schumer posted on Musk's social media site X.

Musk responded on his platform: “Hysterical reactions like this is how you know that DOGE is doing work that really matters.” Congress has been here before, tested during Trump's first term by his willingness to break the norms and skirt the outer banks of legality, most notably when he steamrolled Congress and poached federal military housing and construction funds to build parts of his promised wall along the US-Mexico border.

But Trump's second-term partnership with Musk, who spent some USD 200 million on Trump's White House bid and employs the tech world ethos of moving fast and breaking things, is escalating the confrontation.

On a stated quest to save money by rooting out waste, fraud and abuse, they are making moves to upend American institutions, decimate the civil service and leave a reformed — or hollowed-out — federal government in its place.

Sharon Parrott, president of the Centre on Budget and Policy Priorities, said it would be “catastrophic to our system of government” if the effort succeeds.

“Many of the things they are doing are brazenly unlawful, and we've seen that the courts have been willing to intervene — and intervene quickly,” Parrott said. “There's a real readiness and understanding of the stakes.” In many ways, Trump is pursuing by force what Republicans have long promised but have been unable to deliver by congressional action: shrinking the size and scope of the federal government.

Anti-tax crusader Grover Norquist quipped more than a decade ago about the goal of making government small enough to drown in a bathtub.

But facing pushback from within their ranks about cutting programmes Americans rely upon, Republicans have repeatedly failed to accomplish their budget-slashing goals even when they fully control Congress and the White House, as they do now.

While Congress has the power to pass legislation to fund government operations, the president can veto bills or sign them into law. Instead, Trump is testing an idea championed by his nominee for budget director, Russ Vought, that the executive has the ability to “impound” federal funds, clawing the money back.

Republican Sen. Kevin Cramer of North Dakota said DOGE provides “cover” for some Republicans who want to cut federal funds, when Congress has failed to do so.

And other Republicans say they are comfortable with Trump's pause of certain federal operations, particularly the US Agency for International Development, which sends aid around the world. Closing the Department of Education is next on deck.

“We've got oversight,” said Republican Sen. Thom Tillis of North Carolina. “If he goes too far, I'll be the first person to step up.” Taken together the actions of the administration and DOGE have been swift, relentless and wide open to debate.

Trump's Office of Management and Budget's move to abruptly freeze federal grants and loans drew outrage nationwide as states and nonprofit organisations feared being locked out of funds they need to provide housing, health care and other services. A day later, the White House reversed course.

The shutdown of funds to USAID is largely seen as a test case for the Impoundment Control Act, which Vought has discussed using as a way to roll back congressionally approved funding. Vought's nomination is on track for Senate confirmation this week, despite all Senate Democrats saying they will oppose him.

And DOGE dipped into the inner-workings of the Treasury Department to access its payment system — and the private information of millions of Americans — in what is widely viewed as a way for the White House to eventually stop federal funds to various entities.

On Monday, US District Judge Loren L. AliKhan said the administration's actions with the federal funding “potentially run roughshod over a bulwark of the Constitution' by interfering with Congress's appropriation of federal funds.” “Defendants' actions appear to suffer from infirmities of a constitutional magnitude," she wrote, extending an order issued last week that had paused OMB's sweeping funding freeze. “The appropriation of the government's resources is reserved for Congress, not the Executive Branch. And a wealth of legal authority supports this fundamental separation of powers.” Sen. Patty Murray of Washington, the top Democrat on the Senate Appropriations Committee, said what gives her pause now is how Congress moves forward with legislation to fund the government by the upcoming March 14 deadline.

“What if we do all that and come to an agreement ... vote it in — and this administration says, 'That's bunk. We don't have to go by that,'” she said. “So the level of trust is at the lowest I have ever seen it here.” Asked if the administration could do what it's doing, Johnson, the speaker, insisted, "There will be an appropriate action for Congress to take, but we haven't yet sorted out what's happening with it.” Pressed if Trump had the authority to shut agencies, he said: “I don't have all the answers.” (AP) GSP

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