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September 24, 2026
Show AI Summary
Merchant discount rate on UPI merchant payments may be treated as a taxable payment settlement service with input credit availability.
GST treatment of MDR charged on UPI merchant payments above Rs 2,000 is to be considered by the GST Council. The MDR framework imposes a merchant-borne charge for payment processing and settlement. As these activities are services, MDR may attract GST at 18 per cent, subject to the Council's view. Merchants paying GST on MDR may claim input tax credit, potentially reducing their net tax burden.
September 24, 2026
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Fiscal responsibility limits frame cautions on new projects as budgetary discipline rather than financial crisis.
Finance-department advice treats fiscal indicators as grounds for restraint in approving additional expenditure rather than as evidence that funds are unavailable. Funding new projects may be difficult until additional resources are mobilised or allocations already approved are reallocated. Project proposals lacking budgetary provision or earmarked funding may create cash-flow pressures and fiscal-management challenges, requiring deferment until resources are finalised.
September 24, 2026
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Corporate document forgery allegations trigger investigation into unauthorised insolvency consortium participation and disputed share transfers.
An FIR concerns alleged cheating, forgery, criminal conspiracy, corporate-document misuse, and unauthorised financial liabilities arising from participation in a corporate insolvency resolution process. Allegations include entering a consortium arrangement without the Parekh Group's knowledge or authorisation, reliance on a fabricated and unapproved board resolution, and unauthorised transfer of shares to a group-controlled entity. Investigation covers disputed-record authenticity, alleged digital-signature misuse, and financial transaction trails.
September 24, 2026
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Energy security shapes continued Russian crude sourcing as alternative suppliers replace shortfalls amid potential sanctions-related restrictions.
Russian crude imports are operating near 1.8 million barrels daily in September, with refinery maintenance, stronger Chinese buying, and disruptions to Russian export infrastructure constraining availability. Middle Eastern supply, especially from Iraq and Saudi Arabia, has offset reduced Russian volumes. Potential tougher restrictions on countries purchasing Russian oil could complicate procurement, but energy security and tight physical oil markets make a significant near-term reduction in Russian crude purchases unlikely. Replacement remains technically possible but may raise procurement costs and competition for medium-grade crude.
September 24, 2026
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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
Show AI Summary
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
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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
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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.

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Vance to meet Zelenskyy amid concerns about US-Russia talks to end the war in Ukraine

February 14, 2025

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Munich, Feb 14 (AP) Vice President JD Vance hammered home the US demand that the NATO alliance step up defence spending on Friday, ahead of a security meeting in Europe at a time of intense concern and uncertainty over the Trump administration's foreign policy.

The future of Ukraine is the top item on the agenda at the Munich Security Conference following a phone call between US President Donald Trump and Russian leader Vladimir Putin this week, when they pledged to work together to end the 3-year-old Russia-Ukraine conflict.

Vance is expected to meet Ukrainian President Volodymyr Zelenskyy later Friday for talks that many — particularly in Europe — hope will shed at least some light on Trump's ideas for a negotiated settlement to the war.

Vance started his day in Munich meeting separately with NATO Secretary-General Mark Rutte and German President Frank-Walter Steinmeier. He used the engagements to reiterate the administration's call for NATO members to spend more on defense. Currently, 23 of NATO's 32 member nations are hitting the Western military alliance's target of spending 2 per cent of the nation's GDP on defence.

“NATO is a very important military alliance, of course, that we're the most significant part of,” Vance told Rutte. "But we want to make sure that NATO is actually built for the future, and we think a big part of that is ensuring that NATO does a little bit more burden sharing in Europe, so the United States can focus on some of our challenges in East Asia.” Rutte said he agreed that Europe needs to step up. “We have to grow up in that sense and spend much more,” he said.

Hours before Vance and Zelenskyy were set to meet, a Russian drone with a high-explosive warhead hit the protective confinement shell of the Chernobyl Nuclear Power Plant in the Kyiv region, the Ukrainian president said. Radiation levels have not increased, Zelenskyy and the U.N. atomic agency said. Kremlin spokesman Dmitry Peskov on Friday denied Ukraine's claims .

US Secretary of State Marco Rubio was supposed to join Vance and Zelenskyy but was delayed when his Air Force plane had to return to Washington after developing a mechanical problem en route to Munich. The State Department spokeswoman said he would take a different aircraft, but it was unclear whether he would arrive in time for the meeting with Zelenskyy.

Trump, who upended years of steadfast U.S. support for Ukraine during his call with Putin on Wednesday, has been vague about his specific intentions — other than suggesting that a deal will likely result in Ukraine being forced to cede territory that Russia has seized since it annexed Crimea in 2014.

“The Ukraine war has to end,” Trump told reporters Thursday. “Young people are being killed at levels that nobody's seen since World War II. And it's a ridiculous war.” Trump's musings have left Europeans in a quandary, wondering how — or even if — they can maintain the post-WWII security that NATO afforded them or fill the gap in the billions of dollars of security assistance that the Biden administration provided to Ukraine since Russia's February 2022 invasion.

Trump has been highly skeptical of that aid and is expected to cut or otherwise limit it as negotiations get underway in the coming days.

“There can be no negotiation about Ukraine without Ukraine. And Ukraine's voice must be at the heart of any talks,” UK Defense Secretary John Healey told reporters at NATO headquarters as the alliance's defense ministers met for talks on the war-torn country.

Both Trump and US Defense Secretary Pete Hegseth this week undercut Ukraine's hopes of becoming part of NATO, which the alliance said less than a year ago was “irreversible,” or of getting back its territory captured by Russia, which currently occupies close to 20 per cent including Crimea.

“I don't see any way that a country in Russia's position could allow ... them to join NATO,” Trump said Thursday. “I don't see that happening.” But British Prime Minister Keir Starmer told Zelenskyy on Friday that Ukraine must be allowed to join NATO.

Starmer spoke to Zelenskyy by phone on Friday and “reiterated the UK's commitment to Ukraine being on an irreversible path to NATO,” the prime minister's office said.

Trump in recent days said he wants to reach an agreement with Ukraine to gain access to the country's rare earth materials as a condition for continuing US support for Ukraine's defence against Russia. He confirmed earlier this week that aides were working toward striking such a deal.

Asked Friday if a deal might be completed in Munich, Vance responded, “We'll see.” Vance, in an interview with the Wall Street Journal, said that the US would hit Moscow with sanctions and potentially military action if Putin won't agree to a peace deal with Ukraine that guarantees Kyiv's long-term independence.

The warning that military options “remain on the table” was striking language from a Trump administration that's repeatedly underscored a desire to quickly end the war.

“There are economic tools of leverage, there are of course military tools of leverage,” Vance added.

The US reassurances may have somewhat allayed Zelenskyy's fears, although they will not replace any lost military or economic support that the Biden administration had provided.

The Ukrainian leader conceded Thursday that it was “not very pleasant” that the American president spoke first to Putin. But he said the main issue was to “not allow everything to go according to Putin's plan.” “We cannot accept it, as an independent country, any agreements (made) without us,” Zelenskyy said as he visited a nuclear power plant in western Ukraine.

On Friday, the Kremlin spokesman responded that “there is no news on the subject of the Ukrainian settlement, we have nothing to say" when he was asked to comment on Trump's claim that US, Russian and Ukrainian officials will hold talks on the sidelines of the Munich conference.

“Following their conversation, the leaders of the US and Russia have instructed their aides to establish contacts,” Peskov said. “It will take a few days, and we will inform you afterward.” The track Trump is taking also has rocked Europe, much as his dismissive comments about France and Germany did during his first term.

French Deputy Foreign Minister Benjamin Haddad described Europe as being at a turning point, with the ground shifting rapidly under its feet, and said Europe must wean itself off its reliance on the United States for its security.

He warned that handing a victory to Russia in Ukraine could have repercussions in Asia, too.

“I think we're not sufficiently grasping the extent to which our world is changing. Both our competitors and our allies are busy accelerating,” Haddad told broadcaster France Info on Thursday.

“What's at stake is not just the interests of Ukraine and the Europeans. Everyone would lose, starting with the United States. And I think the United States knows that,” he said. (AP) NPK NPK

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