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    IDFC FIRST Bank enables Direct Tax payments through UPI, cards, net banking and branches
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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.
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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Unravelling the Mystery of Light: Bridging the Gap Between Einstein and Maxwell

March 19, 2025

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A measurement set up on photoelectric effect Light is closely integrated with our intellectual, philosophical and scientific discourse. The exact nature of light has remained a mystery since we stepped on earth. Newton postulated the corpuscular theory of light according to which, light comprises of a stream of particles. Around 100 years later, results by Young and Fresnel proved that light is a wave. The idea was further put on a solid theoretical foundation by James Clerk Maxwell who discovered that light comprises of pulsating electric and magnetic fields which propagate in space.

The energy of a wave is associated with its height, which is called its amplitude. However, in photoelectric effect, where light falls on metal and generates current; it is found that the energy of emitted charged particles or electrons is defined by the frequency of light or the number of oscillations per second of the electromagnetic field. These observations, first made by Philipp Lenard in 1902, gave a startling twist to the story! The mystery was finally resolved by Albert Einstein in 1905, while working as a clerk in the Swiss Patent Office in Berne. He presented the revolutionary theory that light can be considered to be comprising of packets of energy or light quanta, with energy proportional to its frequency. This idea forms the central foundation of modern physics, according to which light has a dual nature and can behave like waves or particles, depending on the nature of experiments. Einstein was awarded the 1921 Nobel Prize in Physics.

For over a century, we have been led to believe that Maxwell’s electromagnetic field theory cannot explain the interaction between light and charged particles. In a recent research article, published in the peer reviewed journal, Annals of Physics, from Elsevier, a reputed scientific publication group, Dr. Dhiraj Sinha, a faculty member at Plaksha University, has presented some groundbreaking ideas, which challenge our existing perceptions. He has argued that leading scientists of the time, including Einstein, Lenard and others did not take account of the fact that light has a magnetic field which varies with time and generates an electric voltage. It is an experimental fact that a vibrating magnet near a metallic coil generates an electric voltage. He argues that the magnetic flux of light j, generates a voltage, V=dj/dt over an infinitesimally small change in time t. Thus, an electron of charge e is energised with an energy, W= edj/dt by the magnetic flux of light. Dr. Sinha has used the frequency or phasor domain representation of energy which can be expressed as ejw, where w is the angular frequency of radiation. This magical relationship equals Einstein’s expression of light quanta currently termed the the energy of a photon, ħw, where ħ is the reduced Planck’s constant. Thus, the energy of a photon can be derived starting from one of the basic Maxwell’s equations.

The theoretical discovery resolves a long-standing problem of physics, which considers photons quite detached from Maxwell’s electromagnetic fields, which is rather very silent on quantisation, albeit not completely opposed to it. His theoretical architecture is bolstered by the experimental evidences on magnetic flux quantisation, which are observed in two dimensional electron systems and superconducting loops. Charge quantisation is a standard part of existing formulations of classical physics. By incorporating magnetic flux quantisation, Maxwell's equations spontaneously lead to the idea of a photon.

Modern technology is driven by two key theoretical models of physics. Maxwell's equations govern the operation of electromechanical energy conversion devices like generators and motors along with wired as well as wireless communication. Devices like lasers, solar cells, light emitting diodes etc. operate on the principle of photons of quantum mechanics. Dr. Sinha’s work offers a framework towards a seamless merger of these two parallel technical tracks, while promising immense technological opportunities. For example, it can lead to a radical improvement in enhancing the efficiency of solar cells as we now understand that they rely on the laws of classical electromagnetism.

The work has faced key challenges and faced strong opposition from leading journals in physics. However, a team of faculty members in leading universities vouched strong support for the idea. The lead role was played by Peter Sturrock, Professor at Stanford University, who passed away recently. Other scientists like Jorge Hirsch, Professor Emeritus at University of California, Steven Verrall, former faculty member at University of Wisconsin La Crosse and Lawrence Horwitz, Professor Emeritus at the University of Tel Aviv have expressed strong support for the idea. A leading physicist from Bristol University made an iconic statement, “We learned from Einstein that Maxwell's equations were relativistic forty years before relativity. Now we know that they were already quantum, sixty years before quantum mechanics! I find this amazing.” It can be safely said that this work rewrites the history of light. The argument that light quanta is interwoven into the fabric of Maxwell’s fields through the quantised nature of magnetic flux, eventually leading to the concept of light quant and photons is not just a footnote in physics; it fuses two disconnected theories and worlds. The road to harness light in the years to come, remains wide open.

1. Sinha, D. (2025). Electrodynamic excitation of electrons. Annals of Physics, 473, 169893.(https://www.sciencedirect.com/science/article/abs/pii/S0003491624003002) Dhiraj Sinha is a faculty member at Plaksha University, Mohali, India. He holds a doctorate in electrical engineering from the University of Cambridge, UK. He can be reached at [email protected] (Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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