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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
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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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Ukraine-Russia political theatrics underscore stark realities on ground as war grinds on

May 17, 2025

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Kyiv, May 17 (AP) Since US-brokered talks began in March, Ukraine's strategy has been to convince the Trump administration that Vladimir Putin is unreliable and that Kyiv is serious about peace.

Ukrainian President Volodymyr Zelenskyy has few options, analysts and officials say, but to draw US President Donald Trump's ire against Putin, while depending on Europe's united and stalwart support.

In the latest round, Zelenskyy not only accepted Putin's offer to hold direct talks in Turkiye, after the US endorsed the idea, but raised the stakes and challenged the Russian leader to a face-to-face. The gesture failed to move Putin and the Istanbul talks were demoted to a technical meeting Friday that failed to yield substantial results on ending the war.

The US has expressed frustration with the stalled talks and threatened to withdraw if results aren't achieved. On Friday, Trump told reporters after boarding Air Force One to return to Washington from Abu Dhabi that he may call Putin soon.

“He and I will meet, and I think we'll solve it, or maybe not,” Trump said. “At least we'll know. And if we don't solve it, it'll be very interesting.” All along, Zelenskyy's message, directed at the Trump administration, has been: The Russian leader cannot be trusted.

It's a rhetorical game of pingpong in which both Kyiv and Moscow try to outmanoeuvre the other vis-à-vis the US. But the political theatrics are underscored by stark realities on the ground. In this war of attrition against Russia's invasion, Ukraine's position is poised to grow weaker as time goes on, unless powerful sanctions are imposed against Moscow and the US continues arms deliveries.

“He is in a difficult situation because behind him is a whole nation of people who are suffering,” said Oleksandr Merezkho, a lawmaker in Zelenskyy's party. “We are playing (along), we are trying to do everything we can because we don't want to lose the support of the US We don't want to be accused that it was our fault.” Putin's no-show did not result in a strong reaction from Trump, which frustrated Ukrainian officials.

“It looks surreal, weird when Ukraine is complying to everything required from us, and Putin ignores, rejects,” said Merezhko. “It looks very imbalanced, it looks unfair for Ukraine.” Ukraine hopes for sanctions, while Russia stalls Since March, Zelenskyy has made a point of showing Ukraine's willingness to acquiesce to US demands to avoid alienating Trump, his most powerful ally.

Kyiv hoped Russia's unwillingness to do the same would, in time, provoke the US to unleash powerful sanctions and cripple Moscow's war machine — the most likely scenario in which Ukraine can hope to weaken Russia and negotiate an advantageous peace deal, analysts said.

Russia's position has remained mostly consistent. The Kremlin kept repeating that it was ready for peace talks with Ukraine — while making demands that were politically untenable for Zelenskyy, and would require Ukraine to make territorial concessions, neutralize its army and vow never to join NATO.

Throughout the war, Moscow has also accused Kyiv and its Western allies of seeking to prolong the fighting and derailing peace efforts.

Most recently, the Kremlin pushed back against a proposed 30-day ceasefire, countering with two brief unilateral ones, and then accused Ukraine of failing to stop the fighting, painting it as unwilling to silence the guns. At the same time, Russian officials underscore the effort to resolve the conflict is complex.

“We understand that Washington wants to achieve quick success in this process, but at the same time we hope that there is an understanding that the settlement of the Ukrainian crisis is too complicated, there are many questions and details that need to be addressed before the settlement,” Kremlin spokesman Dmitry Peskov told reporters last month.

Ukraine is asking for an unconditional temporary ceasefire, during which time future diplomatic talks can take shape. Zelenskyy also asked for a trust-building gesture, such as the release of prisoners of war, something the two sides agreed to Friday. The exchange of 1,000 prisoners would be their largest swap yet.

But Ukraine has also maintained flexibility in its negotiating position by accepting Trump's proposals to avoid alienating the U.S. president.

“They're desperate to keep the Americans on their side,” said Balazs Jarabik, an analyst specializing in Eastern Europe and Ukraine.

In March, Kyiv agreed to the U.S. proposal for an immediate 30-day ceasefire, which Putin effectively rejected by imposing conditions impossible for Ukraine. In April, Kyiv signed a landmark minerals deal sought by Trump after months of fraught negotiations and a brief pause in military aid.

That is why agreeing to send a delegation to Istanbul, after Trump supported the idea, was a risky move for Zelenskyy. It played into Putin's aim of drawing Kyiv into talks that had been stalled since the early weeks of Moscow's 2022 invasion.

“We showed that we are for peace negotiations and support Trump's plan," said Mykola Davydiuk, a Ukrainian political scientist. “Now the ball is with Trump.” Despite verbal threats from Europe and the U.S., sanctions of the kind that could devastate Russia's energy sector have not been forthcoming.

Zelenskyy has expressed support for a sanctions package pushed in the U.S. Congress by Republican Sen Lindsay Graham that could impose 500% tariffs on Russian energy imports. Graham has said he has enough support in the House to bring the sanctions bill to the floor.

Russia likely gearing up for summer fighting campaign For now, Zelenskyy has few options but to continue to highlight Putin's disinclination to engage in meaningful talks and keep the US engaged.

“If it turns out that the Russian delegation really is just theatrical and can't deliver any results today, the world must respond,” the Ukrainian leader said at a European summit in Albania on Friday. “There needs to be a strong reaction, including sanctions against Russia's energy sector and banks. Pressure must continue to rise until real progress is made.” For Ukrainian soldiers fighting along the 1,000-kilometer (600-mile) front line the theatricality of the week's political developments stood in harsh contrast with the grinding war.

“Better to call it a circus,” said a Ukrainian drone operator with the 68th brigade who, like other soldiers, gave only his call sign Goose in line with military protocol.

Analysts say Russia is at a crucial crossroads in the war, where it can negotiate a truce and consolidate gains, or launch a summer military campaign to maximize wins before the onset of winter.

Ukraine has always been at a disadvantage and faces manpower and ammunition shortages. Analysts have offered estimates of six months to two years for how much longer it can hang on.

Much will depend on what kind of support Ukraine receives from partners and how quickly the country can scale up domestic weapons production.

Russian forces recently intensified offensive operations in the Ukrainian regions of Donetsk, Zaporizhzhia and Kherson, according to Ukraine's Southern Defense Forces spokesperson. Soldiers said Russia has a clear aim of reaching the borders of the Dnipropetrovsk region, to be able to claim the capture of two out of four partially occupied territories.

“The feeling is that we will either hold out and allow the political leadership of the country to freeze the conflict along the contact line, or the enemy will break through,” said a Ukrainian soldier with the call sign Corsair Denis in the Sumy region. (AP) NSA NSA

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