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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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Opulence, business deals and USD 400M plane from Qatar: Takeaways from Trump's West Asia tour

May 16, 2025

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Abu Dhabi, May 16 (AP) President Donald Trump used the first major foreign trip of his second term to outline a vision for restoring global stability that is grounded in pragmatism and self-interest rather than values, holding out US ties to wealthy Gulf countries as a model for America's longtime foes.

His four-day swing through Saudi Arabia, Qatar and the United Arab Emirates, which ends Friday, put a spotlight on Trump's transactional approach to foreign affairs as he was feted by autocratic rulers with a trio of lavish state visits where there was heavy emphasis on economic and security partnerships.

His trip played out against the backdrop of stubborn global conflicts, including Gaza and Ukraine, that showed the limits of his influence. But Trump insisted he was turning the page on American “interventionalism” in the region as he moved to recognise the new government in Syria for the first time and prodded Iran to engage on nuclear talks before it's too late.

Some takeaways from Trump's travels: Trump marvelled at Gulf state opulence but held his tongue on human rights Presidential trips to the Middle East usually feature at least some public calls for authoritarian governments to improve their human rights efforts. Not this one, as Trump celebrated his business deals with Gulf royals and admired their wealth.

Trump toured the marble and gilded palaces of Gulf rulers and deemed them “perfecto” and “very hard to buy.” He praised the “gleaming marvels” of the skyline in Saudi Arabia. And he groused about the “much less impressive” Air Force One.

In Trump's remarks at a VIP business conference in Riyadh, he went out of his way to distance himself from the actions of past administrations, the days when he said American officials would fly in “in beautiful planes, giving you lectures on how to live and how to govern your own affairs.” Rights advocates took that as a pledge of nonintervention, swearing off some of the pressure past US presidents have brought to bear on partners to varying degrees to ease up on detentions, suppression of critics and other issues.

“It's absolute support for absolute monarchy,” said Saudi exile Abdullah Alaoudh. His father, a Saudi cleric with a wide following there, is imprisoned in the kingdom.

Some rights advocates said Trump officials gave them private assurances the administration was working on behalf of detained Americans and rights advocates.

Tommy Pigott, a deputy spokesman at the State Department, declined to say whether Trump raised those or other rights issues in discussions with Gulf royals.

Thwarted by Putin While Trump was in the Mideast, Vladimir Putin opted to skip direct peace talks with Ukraine's Volodymyr Zelenskyy despite the US president's strong calls for them to meet face to face.

Trump has been pushing Putin and Zelenskyy to move with greater haste to end Russia's grinding war in Ukraine.

But after it became clear Putin wouldn't be attending talks in Turkey this week and would instead be sending underlings to Istanbul, an annoyed Trump insisted he knew all along that it was highly likely Putin would be a no-show.

“I don't believe anything's going to happen whether you like it or not, until he and I get together,” Trump said. “But we're going to have to get it solved because too many people are dying.” As he wrapped up his visit on Friday, Trump said the face-to-face would happen “as soon as we can set it up.” Trump was scheduled to fly back to Washington on Friday, but tried to keep people guessing until the end. He teased late Thursday that he would be heading to a “destination unknown” — “probably” Washington, he added. His opaque language stoked speculation that he might make a drop-by to Turkey.

But on Friday morning, he told reporters he needed to get back to Washington. His daughter Tiffany had her first child while the president has been away.

“I would actually leave here and go,” Trump said. “I do want to see my beautiful grandson.” On Syria sanctions, Trump takes a leap of faith Just two months ago, the Trump administration wasn't sold on Syria's interim government led by Ahmad al-Sharaa, the onetime al-Qaida-affiliated insurgent. They worried the Syrian president didn't have the legitimacy to govern the country's ethnically diverse population.

Clashes broke out in early March, killing hundreds and targetting many more members of the Alawite religious minority to which the ousted Syrian leader Basher Assad belongs.

The moment gave the Trump White House pause about easing sanctions on Syria. But Trump signalled Monday that he was having a change of heart and was moving toward lifting the Syria sanctions.

A day later, he announced the move during an address to Gulf leaders.

Trump then took it another step by agreeing to meet al-Sharaa.

Trump said he was impressed with al-Sharaa, who not that long ago had a USD 10 million US bounty on his head. The president called him a “young, attractive guy” with a “very strong past.” Trump said it was recommendations from Turkish President Recep Tayyip Erdogan and Saudi Crown Prince Mohammed bin Salman that nudged him to take a chance on al-Sharra.

“President Erdogan called me and said: 'Is there any way you could do that? Because if you don't do that, they don't have a chance,'” Trump said. “So, I did it.” Trump's fuzzy math on display Throughout the trip, Trump felt more than comfortable dishing out exaggeration and hyperbole.

“This has been an amazing trip.” Trump told reporters Thursday as Air Force One was about to land in Qatar. “We've raised trillions of dollars of investment for our country.” A little later he put the figure at USD 4 trillion.

That figure is about two times the combined gross domestic products of Saudi Arabia, Qatar and the United Arab Emirates, meaning that any announced investments would likely accrue over several years — if at all — in ways that might not show up in overall US economic growth numbers.

Boeing confirmed that Qatar's USD 96 billion purchase of its 787 and 777X jets was the largest order for 787s and wide body jets in the company's history. Trump enthused it was “the biggest order in the history of, I think, aviation, certainly of that size” of jets.

Trump also went overboard in running down the economic record of his predecessor, Democrat Joe Biden, at one point declaring, “The days of economic misery under the last administration are rapidly giving way to the greatest economy in the history of the world.” The US economy grew at 2.8 per cent last year. It declined at an annualised rate of 0.3 per cent during the first three months of this year.

Intractable conflicts remain just that While Trump's trip initially was conceived as a visit to reward countries that invest in the United States, Trump at one point hoped it also would herald significant steps to end the wars in Gaza and Ukraine. Positive news on both fronts proved elusive.

Trump barely mentioned either conflict on his trip – and when he did, it was generally in the context of his assertion that they wouldn't have occurred had he won reelection in 2020.

As Israel stepped up an offensive in Gaza — a prelude to a promised full takeover of the territory if Hamas doesn't release the remaining hostages in its captivity — Trump was again musing about the creation of a “freedom zone” in its territory. It's a notion rejected by Palestinians and the broader Arab world because Trump's plan would relocate civilians from Gaza to allow for rebuilding.

Israel conducted significant airstrikes all week in Gaza as Trump was in the region and the fighting on the ground appeared to escalate Friday morning even before Trump left the UAE.

Ethics issues follow along as Trump travels the Mideast Trump was already facing questions about conflicts of interest for travelling to the Middle East to shape US policy at a time when his family's business interests in the region have boomed.

He attempted to quiet worries about national security and constitutional questions by insisting he's smart to accept a USD 400 million luxury plane from Qatar and use it as Air Force One.

“Why should our military, and therefore our taxpayers, be forced to pay hundreds of millions of Dollars when they can get it for FREE,” Trump posted on his social media site during his Middle East swing.

The president also dodged questions about a state-backed investment company in Abu Dhabi using a Trump family-aligned stablecoin for a USD 2 billion investment in the world's largest cryptocurrency exchange.

“I don't know anything about it,” he said.

Beyond that, the Trump family has piled up deals to license its brand for real estate projects, and to build Trump towers and golf courses, around the Middle East.

White House press secretary Karoline Leavitt says it's “frankly ridiculous” to wonder if those profits might influence Trump's governing decisions. (AP) NPK NPK

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