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    GST Council to take a view on GST on UPI MDR: Sources
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    India's Russian oil imports hold near 1.8 million bpd as Middle East fills gaps
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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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Indian Wikipedia volunteer recognised at annual global conference in Kenya

August 11, 2025

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Nitesh Gill among the Global Honourees for Wikimedian of the Year Awards at Wikimania 2025 Nairobi, Kenya, August 11, 2025: In a moment of pride for India, Nitesh Gill, a dedicated Wikipedia contributor from Punjab, has been recognised with an ‘honorary mention’ as part of the Wikimedian of the Year Awards 2025. The recognition was awarded to Nitesh by Wikipedia founder Jimmy Wales during the 20th edition of Wikimania, held at Nairobi, Kenya, under the theme “Inclusivity, Impact, Sustainability.” The annual conference celebrates Wikipedia and other Wikimedia projects, and the community of volunteers (Wikimedians) who make it possible. Nitesh was recognised for her exceptional contributions on the Wikimedia projects, particularly for her work in expanding Punjabi Wikipedia and promoting the representation of women on Wikimedia projects. She was selected from a shortlist of global volunteers based on nominations from fellow Wikimedia volunteers and Wikimedia Foundation staff from across the world. Nitesh, a PhD scholar in Punjabi Literature, began contributing to Punjabi Wikipedia in 2014 as a student and has since grown into one of its most prolific members of the volunteer community. A decade later, she stands out as the only woman administrator (trusted Wikipedia volunteer with advanced permissions to protect Wikipedia) on Punjabi Wikipedia and a lead member of the Punjabi Wikimedians User Group, which has created over 58,000 articles in the regional language. “I love my language, and that love motivates me to serve and contribute to it in every possible way,” Nitesh said. “I want to break the myth that speaking your language makes you less intelligent. If you cannot respect your own language, in many ways, you are questioning your own identity.” Her writing is rooted in passion and purpose, with a focus on writing biographies of women. After completing the #100wikidays challenge, where volunteers create one new Wikipedia article every day for 100 days, she went on to write over 500 articles to ensure Punjabi Wikipedia contains more content on women. “I am proud of the work I have done for the Punjabi language, especially in creating content about women's personalities and women-related topics. Today, Punjabi Wikipedia has more content about women than any other gender, and I feel proud to have helped bridge that gap, which is an issue in the wider knowledge landscape.” She added. Her global contributions include having key roles in organising several in-person events for the global Wikimedia communities, including WikiConference India 2023, the WikiWomen Camp 2023 and the Wikisource Conference 2025 in Indonesia. Nitesh also led the She Leads program that helps empower South Asian women to take on leadership roles within Wikimedia. She also co-developed a Punjabi-translated Oral Culture Transcription Toolkit, partnering with Himachal University to document cultural heritage. Wikipedia is among the top ten most-read websites in the world, and the only one that is run by a non-profit, the Wikimedia Foundation. Nearly 260,000 volunteers create information in over 300 languages on Wikipedia based on reliable sources, which is viewed more than 15 billion times every month. India ranks amongst the top 10 countries with the highest number of views to Wikipedia in the world, with over 1 billion page views per month. It leads in content creation within the South Asia region, representing over 70% of the region’s information on Wikimedia projects. Out of over 300 languages present on Wikipedia, more than 25 Indic languages are rooted in the Indian subcontinent. This includes nearly all of the 22 scheduled languages of India; the largest number of languages represented from one country on the online encyclopedia. Reflecting on the values of Wikimedia projects and volunteer communities (collectively referred to as the Wikimedia movement), Nitesh believes that while the Wikimedia movement is rooted in open knowledge, its core spirit lies in volunteerism, sharing, and collaboration. She emphasises the importance of passing the legacy forward to those who are ready and deserving. About Wikimania Wikimania is the annual gathering bringing together Wikimedians around the world to connect with one another, share new projects, and shape the future of Wikimedia projects. Everyone is invited to join and learn more about the humans that make Wikipedia possible for free. The first Wikimania was held in Frankfurt, Germany, from 4 to 8 August 2005. It has been an annual event ever since. About the Wikimedia Foundation The Wikimedia Foundation is the nonprofit organization that operates Wikipedia and other Wikimedia free knowledge projects. Our vision is a world in which every single human can freely share in the sum of all knowledge. We believe that everyone has the potential to contribute something to our shared knowledge and that everyone should be able to access that knowledge freely. We host Wikipedia and the Wikimedia projects; build software experiences for reading, contributing, and sharing Wikimedia content; support the volunteer communities and partners who make Wikimedia possible. The Wikimedia Foundation is a United States 501(c)(3) tax-exempt organization with offices in San Francisco, California, USA. (Disclaimer: The above content is a press release and PTI takes no editorial responsibility for the same.). PTI

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