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September 24, 2026
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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
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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
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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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Bangladeshi students who toppled Hasina regime form political party, say no room for 'pro-India, pro-Pakistan' politics

February 28, 2025

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Dhaka, Feb 28 (PTI) The students' group that led the protests against Bangladesh prime minister Sheikh Hasina launched itself as a political party on Friday, declaring there will be no room now for pro-India and pro-Pakistan politics in the country.

The Anti-Discrimination Student Movement or Students against Discrimination (SAD) turned into 'Jatiya Nagorik Party' or National Citizen Party (NCP) at a rally at Manik Mia Avenue in central Dhaka near Parliament with one of the key leaders of the July-August uprising, Nahid Islam, 26, as its convenor.

The student leaders also issued a declaration that outlined “a transformative political and economic roadmap for Bangladesh” at the inaugural event, which was attended by representatives of some political parties and envoys of the Vatican and Pakistan.

The student movement led a mass protest leading to the ouster of Hasina's over 15 years of rule on August 5 last year. Three days later, Muhammd Yunus assumed charge as the Chief Adviser of the Interim government.

The NCP’s inaugural rally began with a recitation from the Quran, the Bhagwad Gita, the Bible and the Tripitaka, followed by the national anthem.

A minute of silence was also observed in memory of those killed during the July uprising.

“There will be no room for pro-Indian and pro-Pakistani politics in Bangladesh. We will build the state keeping Bangladesh, the interest of the people of Bangladesh ahead,” said NCP’s convenor Nahid Islam, who resigned as the Information adviser from Yunus' advisory council earlier this week.

“We want to talk about the future,” he said. “We want to move beyond the past and discuss the possibilities of Bangladesh.” The party would be “solely Bangladesh-oriented, dedicated to the country's progress,” echoed SAD coordinator Nusrat Tabassum.

SAD member secretary Arif Sohel told the gathering at the inauguration of the party: “People will no longer accept elite groups or dynastic loyalty. Instead, future leaders will emerge from the working class — farmers, labourers, and the children of daily wage earners.” He added that the new political party will uphold this vision and fulfill the people's aspirations.

Family members of those who lost their lives during the July-August 2024 mass protests, leaders of different political parties, except Hasina’s Awami League and its allies in the past regime, joined the NCP’s inauguration event.

According to the mass circulation Prothom Alo and other newspapers, two foreign diplomats -- ambassador of Vatican in Dhaka and Pakistan High Commission’s political councilor -- joined the function and took the front row seats reserved for foreign diplomats.

Former prime minister Khaleda Zia’s Bangladesh Nationalist Party (BNP) sent its senior joint secretary general Ruhul Kabir Rizvi and joint secretary general Shahid Uddin Chowdhury Anny to the event. It was also attended by Jamaat-e-Islami secretary general Mia Golam Parwar and several other Islamic parties and right and left wing groups.

Most of the top leaders of the NCP began their political activism during the 2018 movement for reforms in quota system for government jobs and later under the banner of the Bangladesh Chhatra Odhikar Parishad during the 2019 Dhaka University Central Students' Union (DUCSU) elections.

The new party was floated apparently with the blessings of Yunus, who had assumed as the chief adviser, effectively the prime minister, as the SAD nominee last August.

Neither Yunus nor any other representative of his council of advisers attended the function, however, coinciding with NCP’s launch, the interim government on Friday published a gazette recognising 1,401 individuals injured in the July-August 2024 mass protests as 'July Warriors'.

Yunus had inducted three SAD representatives as members of his advisory council. One of them, Nahid Islam resigned earlier this week amid criticism that the new party was being floated using the advantage of being part of the government.

Zia's BNP earlier expressed its skepticism about the neutrality of the Yunus’ interim administration ahead of expected general elections in December this year, particularly after he extended his support for the proposed student-led party.

Meanwhile, the NCP issued a declaration at the inaugural event that outlined “a transformative political and economic roadmap for Bangladesh, which will begin with writing a new constitution,” newspaper The Daily Star said, adding, with it, the party announced its mission “to dismantle constitutional autocracy and adopt a new democratic constitution.” The first few lines of the declaration read: “We stand as the people of the Bengal delta, bearing a rich and distinct culture shaped over a thousand years of historical evolution.

“After nearly 200 years of British colonial rule, the state of Pakistan was established in 1947 following a long struggle. However, the general people of this land did not attain freedom from exploitation and discrimination,” it said.

Consequently, the declaration said, after 23 years of struggle, the people of this land waged the great liberation war of 1971, sacrificing the lives of hundreds of thousands of martyrs to achieve an independent Bangladesh.

“However, even after more than five decades of independence, we have failed to establish a political settlement that ensures democracy, equality, human dignity, and social justice,” it said.

Instead, the NCP charter said, over the past 15 years, Bangladesh was “subjected to a brutal fascist regime that recklessly weaponised state institutions to serve the ruling party's interests and destroyed democracy.” The declaration then went on to outline the new party's vision for various sectors, including foreign policy and economy, and asserted: “Our country, our rights, our future—the second republic is not an unattainable dream. It is our solemn commitment!” PTI AR NPK NPK

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