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    GST Council to take a view on GST on UPI MDR: Sources
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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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May 23, 2025

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New Delhi, May 23 (PTI) Following are the top stories at 9.15 pm: NATION DEL70 AVI-DGCA-3RDLD INDIGO FLIGHT

IndiGo Srinagar flight crew's request to enter Pak airspace to avoid turbulence was rejected: DGCA New Delhi: Aviation watchdog DGCA on Friday said the crew of the IndiGo flight from the national capital to Srinagar on Wednesday had sought permission to enter Pakistan airspace to avoid turbulence but the request was rejected.

DEL49 PM-LD NORTHEAST (RPT)

Northeastern region witnessing unprecedented progress: PM Modi New Delhi, May 23 (PTI) The Northeastern region, once synonymous with "bombs, guns and blockades", is now witnessing unprecedented progress, with the government determined to accelerate its growth story, Prime Minister Narendra Modi said on Friday.

DEL74 JAISHANKAR-PAKISTAN-WEST

West supported military regime in Pakistan: Jaishankar New Delhi: No one has supported the military regime and undermined democracy in Pakistan in so many ways as much as the West, External Affairs Minister S Jaishankar has said.

DEL89 DELEGATIONS-MISRI

Misri briefs 4 multi-party delegations travelling abroad to convey India's message on terror New Delhi: Foreign Secretary Vikram Misri on Friday briefed the members of the four multi-party delegations, including those led by Congress leader Shashi Tharoor and BJP leader Ravi Shankar Prasad, that will travel to world capitals to convey India's resolve for zero tolerance on terrorism emanating from Pakistan.

DEL66 BJP-RAHUL-2NDLD INDOPAK

Stop 'undermining' armed forces' valour, 'jeopardising' India's security: BJP to Rahul on Op Sindoor New Delhi: The BJP on Friday launched a scathing attack at Leader of Opposition in the Lok Sabha Rahul Gandhi and asked him to stop "undermining" the Indian Armed Forces' valour and "jeopardising" the country's security by making "irresponsible remarks" about Operation Sindoor.

DEL92 DL-COVID-LD ADVISORY

Delhi govt issues advisory on Covid-19, asks hospitals to step up preparedness New Delhi: The Delhi government on Friday issued an advisory on Covid-19, asking hospitals to prepare for the availability of beds, oxygen, medicines and vaccine.

DEL85 ED-TASMAC

ED to inform SC about illegal cash, tampering of software in TASMAC case New Delhi: The Enforcement Directorate identified some prime suspects moving alleged kickbacks in cash and tampering with TASMAC's indenting system in Tamil Nadu just before the Supreme Court stayed its money laundering probe and observed that the central agency was "crossing all limits" and violating the federal concept of governance.

DEL83 AVI-AIRSPACE BAN-PAK

India extends airspace ban for Pak airlines till Jun 23 New Delhi: India on Friday extended the closure of its airspace for flights operated by Pakistan airlines by another month till June 23, according to sources.

BOM23 CG-NAXALITES-SURRENDER

33 Naxalites surrender in Chhattisgarh's Bastar region Bijapur/Dantewada: As many as 33 Naxalites, among them 24 carrying a cumulative bounty of Rs 91 lakh, surrendered before security forces in Chhattisgarh's Bastar region on Friday, police said.

CAL17 BH-3RD LD RAILWAY MINISTER

Railway minister inspects Jamalpur railway workshop, lays foundation stone for new project Jamalpur (Bihar): Railway Minister Ashwini Vaishnaw on Friday laid the foundation stone for a project to increase the wagon periodical overhauling (POH) capacity at the Jamalpur railway workshop in Bihar's Munger district and also interacted with the employees.

BUSINESS DEL73 BIZ-LD ALL INDOPAK

India to make strong case with FATF to put Pakistan back in "grey list", block World Bank funds New Delhi: India will highlight Pakistan's persistent support for terrorism and its funnelling of multilateral funds for arms procurement to build a strong case for reinstating Islamabad on the global money laundering and terror financing watchdog's 'grey list', and block funding from the World Bank.

LEGAL LGD28 SC-2NDLD ONLINE BETTING

In name of IPL people betting, gambling: SC on PIL for regulation of online apps New Delhi: The Supreme Court on Friday said people were betting and gambling in the garb of Indian Premier League and sought the Centre's response on a PIL seeking to regulate betting applications.

LGD32 SC-MATERNITY LEAVE

Maternity leave integral to maternity benefits, says SC, sets aside Madras HC verdict New Delhi: Maternity leave is integral to maternity benefits and reproductive rights are now recognised as part of international human rights law like right to health, privacy, equality and non-discrimination and dignity, the Supreme Court said on Friday.

LGD33 SC-UP-GANGSTERS ACT

SC questions probe, quashes UP Gangsters Act case against man New Delhi: The Supreme Court on Friday said the role of probe agencies was strictly to conduct an impartial investigation and it was for the court to determine an accused's innocence or guilt.

LGD21 SC-RAJASTHAN-ADANI POWER

SC upholds APTEL verdict in Adani Power case, rejects Rajasthan discoms plea New Delhi: The Supreme Court on Friday dismissed an appeal filed by Rajasthan’s power distribution companies against a judgement of the Appellate Tribunal for Electricity (APTEL) that had ruled in favour of the Adani Power Rajasthan Ltd (APRL).

FOREIGN FGN71: INDOPAK-LDALL DELEGATIONS

All-party delegations meet top leadership in Russia, Japan, UAE; convey India's strong anti-terror stand Moscow/Tokyo/Abu Dhabi: Indian Parliamentary delegations on Friday put across New Delhi's 'zero-tolerance' policy on terrorism to top officials in Russia, the United Arab Emirates and Japan and exchanged views on furthering cooperation in counter-terrorism and combating radicalism following Operation Sindoor.

FGN68: GERMANY-JAISHANKAR-ADDRESS

Zero-tolerance for terrorism, India will never give in to nuclear blackmail: Jaishankar in Germany Berlin: External Affairs Minister S Jaishankar on Friday said India has zero-tolerance for terrorism and New Delhi will “never give in to nuclear blackmail”.

FGN65: BANGLA-YUNUS-LD RESIGNATION

Bangladesh’s interim govt chief Yunus mulls resignation: Report Dhaka: Bangladesh’s interim government chief Muhammad Yunus is mulling resignation as he is finding it difficult to work in view of political parties failing to reach a common ground to bring a change in the country, according to a media report.

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