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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
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
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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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Pahalgam attack: India bans imports from Pakistan; Committed to take 'firm and decisive' action against terrorists, their backers: PM Modi

May 3, 2025

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New Delhi, May 3 (PTI) India on Saturday imposed a ban on import of goods coming from or transiting through Pakistan and also entry of Pakistani ships into its ports even as Prime Minister Narendra Modi said the country is committed to take "firm and decisive" action against terrorists and their backers.

In fresh punitive measures against Pakistan that came into effect immediately amid heightened Indo-Pak tensions in the wake of the deadly Pahalgam terror attack, India also suspended exchange of mails, parcels from the neighbouring country via air and surface routes.

Terrorists killed 26 people, mostly tourists, in Jammu and Kashmir's Pahalgam on April 22, sparking outrage in India and abroad.

After holding wide-ranging talks with visiting Angolan President Joao Manuel Goncalves Lourenco, Modi said terrorism is the "biggest threat" to humanity.

"We are unanimous that terrorism is the biggest threat to humanity. I expressed my gratitude to President Lourenco and Angola for their condolences to those killed in the terrorist attack in Pahalgam," Modi said in his media statement.

"We are committed to take firm and decisive action against the terrorists and those who support them," he added.

The Pakistan army, meanwhile, said in a statement that it has conducted a successful training launch of the Abdali Weapon System — a surface-to-surface missile with a range of 450 km, saying it was aimed at ensuring the operational readiness of troops and validating key technical parameters.

In New Delhi, people familiar with the matter said India considers the test launch of the ballistic missile a "blatant" act of "provocation".

Jammu and Kashmir Chief Minister Omar Abdullah called on Prime Minister Modi and discussed various issues, including the Pahalgam attack, officials said.

The meeting at the prime minister's residence lasted around 30 minutes, they said. This is the first meeting between the two leaders after the attack.

As the hunt for the Pahalgam attackers intensified, Sri Lankan police searched a flight arriving in Colombo from Chennai after being tipped off that a suspect linked to the massacre could be on board, a police spokesperson said in the Sri Lankan capital. Indian authorities have identified four terrorists - including two Pakistani nationals - behind the Pahalgam carnage.

A statement from the national carrier SriLankan Airlines said the aircraft was thoroughly inspected and subsequently cleared for further operations.

According to an Indian government order, the complete ban on imports of all goods from Pakistan was imposed on the grounds of national security and public policy.

Though the 200 per cent import duty imposed on Pakistani goods in 2019 after the Pulwama attack had effectively halted direct imports, the latest decision also prohibits the entry of Pakistani goods routed through third countries.

India's exports to Pakistan in April-January 2024-25 stood at USD 447.65 million, while imports were meagre USD 0.42 million. These imports were limited to niche items like figs (USD 78,000), Basil and Rosemary herbs (USD 18,856), certain chemicals, and Himalayan pink salt. The imports were USD 2.88 million in 2023-24.

A provision has been added in Foreign Trade Policy (FTP) 2023 "to prohibit direct or indirect import or transit of all goods originating in or exported from Pakistan with immediate effect until further orders", the Directorate General of Foreign Trade (DGFT) said in a notification dated May 2.

It added that this restriction is imposed in the interest of "national security and public policy". Any exception to this prohibition will require approval of Government of India, the order said.

Inserting the provision under the heading "Prohibition on Import from Pakistan" in the FTP, it said: "Direct or indirect import or transit of all goods originating in or exported from Pakistan, whether or not freely importable or otherwise permitted, shall be prohibited with immediate effect, until further orders".

Commenting on India's decision, think tank Global Trade Research Initiative(GTRI) said that India does not depend on Pakistani goods, so the economic impact is minimal.

"However, Pakistan still needs Indian products and may continue accessing them through third countries through recorded and unrecorded routes. India's already minuscule imports from Pakistan will now drop to zero. No one in India will miss anything except perhaps Himalayan pink salt (sendha Namak), extracted from salt deposits of Pakistan," GTRI Founder Ajay Srivastava said.

Besides banning entry of Pakistani ships into Indian ports, India also barred Indian ships from visiting Pakistani ports, according to the Directorate General of Shipping (DGS). The restrictions were put into place with immediate effect, officials said.

The DGS said the order has been issued to ensure "safety of Indian assets, cargo and connected infrastructure" and "any exemption or dispensation from this order shall be examined and decided on case-to-case".

An order issued by the Department of Posts that operates under the Ministry of Communication said the government has decided to suspend exchange of all categories of inbound mail and parcels from Pakistan through air and surface routes.

The fresh moves came a week-and-half after India announced a raft of punitive measures against Pakistan including suspension of the Indus Waters Treaty, shutting down of the only operation land border crossing at Attari and downgrading of diplomatic ties following the terror attack.

In response, Pakistan shut its airspace to Indian airliners and suspended all trade with India, including through third countries. India has also banned Pakistan air carriers from using its airspace.

Pakistan rejected India's suspension of the Indus Waters Treaty and said any move to stop the flow of water will be seen as an "act of war".

Citing "cross-border linkages" to the April 22 attack, India has promised severe punishment to those involved in the strike.

Under the first set of punitive measures, India also revoked all visas issued to Pakistani nationals. PTI MPB RR ZMN ANU SKL NPK SH GSN GSN

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