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    India's Russian oil imports hold near 1.8 million bpd as Middle East fills gaps
    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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    CMRL ''payments'' to UDF, LDF leaders prevented Vigilance probe against Vijayan, claims Ker BJP
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    Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman inaugurates BRICS Heads of Tax Authorities Meeting in New Delhi
    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.
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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
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
Show AI Summary
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
Show AI Summary
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.

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Layoffs, closures, gaps in oversight expected after hundreds of DOJ grants cancelled

April 29, 2025

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New York, Apr 29 (AP) A deaf mother trying to escape her abusive husband came to a domestic violence shelter seeking help, but she couldn't communicate fluently with American Sign Language.

Shelter workers contacted Activating Change, a group that can provide sign language interpreters who are trained to help people experiencing trauma. Over the course of the year in the shelter, the woman worked with the interpreter to file for divorce, gain custody of her children, heal with therapy, and find a job and housing.

“Our superpower is adaptability, and having access to services like Activating Change allows us to have that,” said Marjie George, developmental director at the Domestic Violence and Sexual Assault Services shelter.

Activating Change, which helps people with disabilities navigate the criminal justice system, was one of hundreds of organisations that received a notice on April 22 that the Department of Justice was cancelling grants they had received through the Office of Justice Programmes.

More than 350 grants initially worth more than USD 800 million were ended midstream, sparking layoffs and programme closures.

The disabilities nonprofit had to lay off nearly half its 26 workers after the government cancelled USD 3 million in direct grants, about USD 1 million of which had already been spent, and ended pass-through grants from other organisations.

Amy Solomon, former assistant attorney general who oversaw the Office of Justice Programmes and now a senior fellow at the Council on Criminal Justice, said the cuts touched on every aspect of the department's portfolio.

“This is highly unusual,” Solomon said. “You expect any administration to have their own priorities, and to implement that in future budget years and with future awards. You would not expect it to be grants that have already been granted, obligated or awarded to be pulled back.” The Office of Justice Programmes typically awards nearly USD 4 billion in grants annually.

It was unclear how much money it would take back since some of the rescinded grants were initially awarded as far back as 2021. Grantees were locked out of the financial system a few days before they were due to be reimbursed for already completed work.

How the Justice Department planned to reallocate whatever money is returned was also unclear. Some came from dedicated pots of funding, including from the Victims of Crime Act, which collects fines and penalties in federal cases for programmes serving crime victims.

A department spokesperson did not respond to questions about the cuts.

The cancellation notices noted that grant holders had 30 days to appeal. As of Friday, the department had reversed course on a handful of grants, restoring some funding.

Law enforcement priorities The cancellation letters obtained by The Associated Press explained the cuts by saying the department had changed its priorities to focus on “more directly supporting certain law enforcement operations, combatting violent crime, protecting American children, and supporting American victims of trafficking and sexual assault." But advocates, researchers and leaders in criminal justice said many grants served those purposes. Some cuts seemed to target programmes that were started by or were a priority under the Biden administration, such as grants for violence intervention programmes. But others appeared to target priorities under Trump's first administration, including elder abuse and financial exploitation.

While cities and law enforcement agencies largely escaped direct cuts, many are feeling the impacts of cancellations to partner programmes.

In a scathing briefing Wednesday, New Jersey Attorney General Matt Platkin noted nearly USD 13 million in ongoing programme funding to the state was cancelled.

“To say, 'We're going to cut programmes that protect people from bias, that help people with opioid addiction, that keep guns off our streets' — it's irresponsible, it's reckless, it's dangerous, and it's going to get people killed,” Platkin said.

The cancellations included funding for research organisations that create standards for training or data collection and provide resources for smaller law enforcement agencies.

Three grants to the Police Executive Research Forum were cut, including a study of police plans and responses to protests to develop practices for preventing civil disturbances. And the National Policing Institute lost grants that provided technical assistance to rural police departments and support for improving relationships between police and communities of colour.

Mandated functions A handful of the cancelled grants paid for services intertwined with government functions mandated by law, including required audits under the Prison Rape Elimination Act.

Impact Justice, which lost millions, had created and managed the PREA Resource Center for more than a decade. The centre has had a hand in nearly every aspect of the implementation and management of the federal regulations from the online audit platform, auditor certification, and developing trainings for auditors, prison officials and others.

“It's a collaborative relationship, but we are the ones that execute the work and have the systems and maintain the systems,” said Michela Bowman, Vice President of Impact Justice and senior advisor to the PREA Resource Center.

She explained that the centre designed and owns the audit software and data collection systems.

“I can't tell you what the DOJ plans to do in the alternate,” said Alex Busansky, president and founder of Impact Justice.

Safety and victim services Nonprofits that provide services to crime victims also lost grants. Advocates say many cuts will impact public safety, like the elimination of funding for the national crime victims hotline or the loss of a grant to the International Association of Forensic Nurses to provide technical assistance and training to SANE— Sexual Assault Nurse Examiners— in underserved areas.

“It's very important for a survivor to be able to access a rape exam done by a SANE nurse. It's vital,” said Ilse Knecht, director of policy and advocacy at The Joyful Heart Foundation, and who oversees the agency's efforts to track and combat a national backlog in untested forensic rape kits.

Grants that directly address the backlog seemed to be safe for now, but she said services offered to survivors are essential.

“When we don't keep this system that has been set up to keep victims safe and make them want to participate in the criminal justice system ... we are really doing a disservice," she added. "How is this helping public safety?” For Activating Change, the cuts meant an immediate reduction in services. Its leaders rejected the idea their services don't align with federal priorities.

“It is a catastrophic blow to our organisation," said Nancy Smith, the organisation's executive director. "But also to the safety net for people with disabilities and deaf people who've experienced violent crime in our country.” (AP) GRS GRS

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