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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
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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Flipkart Unveils 'Minutes That Move India', A Report Unpacking What, When, and Why India Orders Fast

August 20, 2025

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From 12 million ice cream scoops to a record 3-minute delivery, Flipkart Minutes maps how India embraced quick commerce at all hours, in all moods Bengaluru, Karnataka, India (NewsVoir) Indian consumers are embracing instant gratification at a remarkable pace. Flipkart Minutes, launched just a year ago, has swiftly expanded into 19 cities and more than 2,900 pincodes, delivering everything from tech to tomatoes. With our first-ever annual report, Minutes That Move India, Flipkart decodes what, when, and why India orders in the moment. Through significant data-led insights, Flipkart Minutes provides deep insights into how India shops today, capturing evolving preferences, shifting behaviours, and fascinating consumer quirks.

Celebrating one year of Flipkart Minutes, these insights reveal not only what India buys, but why consumers choose instant delivery, how their buying decisions shift through the day, and what defines consumer mood-driven commerce across key cities.

Onions over iPhones? India's Top Quick-Commerce Hero Will Surprise You In a twist that defines modern Indian consumerism, onions became the unexpected quick-commerce favourite, with over a million orders placed this year. While everyday essentials dominated overall, consumers also ordered enough milk via Flipkart Minutes to fill six Olympic-sized swimming pools and sold bananas, enough to power an army of minions. Notably, indulgences weren’t forgotten: consumers also ordered a staggering 12 million scoops of ice cream, while Maggi noodles continued to comfort Indian consumers with a steady average of 4 packets ordered every minute throughout the year.

India's Most Bizarre Instant Commerce Cart Goes TO….

India's quick-commerce carts showed eclectic, unexpected behaviours, with the most unusual combination being aloo bhujia, two gold coins, and a mouth freshener, ordered simultaneously.

Quick-Commerce Superfan Alert: Shocking Total Orders in Minutes Consumer loyalty reached extraordinary levels: a consumer placed an impressive 886 orders in one year alone, while another consumer placed the highest single-order value, hitting INR 1.85 lacs. These data points reflect how Flipkart Minutes is deeply embedded in consumer lifestyles, accommodating diverse, even whimsical, purchase motivations.

Faster Than Your Morning Tea: Flipkart's Fastest Delivery at 3 Minutes 21 Seconds! Flipkart Minutes recorded its fastest-ever delivery, completed in just 3 minutes and 21 seconds in Bengaluru’s HSR Layout, highlighting consumer expectations for instant fulfilment. Further insights reveal clear behavioural patterns: peak quick-commerce orders occurred between 7 AM - 8 AM for morning necessities, with another surge in purchases, such as desserts and snacks. Younger consumers, particularly from cities like Pune, Patna and Bangalore, were the most active instant shoppers, highlighting convenience-driven consumption patterns.

He Came. He Queued. He got it in 10 Minutes.

A man standing in queue for over five hours outside Mumbai’s Apple Store in Band-Kurla Complex decided to place the order on the Flipkart Minutes app and got his iPhone 16 delivered in just 10 minutes, before the queue had even moved. Last year, while hundreds queued for hours to get their hands on the newly launched iPhone 16, Flipkart Minutes showed how quick commerce is meeting consumer demand for speed and convenience.

India’s Quick Commerce Capitals and Their Shopping Signatures Every city has its own unique characteristics and Flipkart Minutes is here to serve the demand for each: • Fastest Delivery Champs: Lucknow and Jaipur recorded the fastest average delivery times in India • The Sweet Tooth Capital: Kolkata was observed as India’s dessert capital on Flipkart Minutes, with high-frequency orders for chocolates, cookies, and ice cream • The Last-Minute Glow-Up: Guwahati showed high demand in beauty and personal care, pointing to a shift in how grooming products are consumed, instantly and often • Pet-Friendly Headquarters: Mumbai leads in pet food orders, reflecting a highly engaged base of pet-first households • Gadget Central: Bengaluru features the most late-night orders and high-speed tech purchases, especially wearables and audio products Midnight Ice Cream, Anyone? India's Latest Shopping Craving Hits at 2:58 AM Late-night shopping revealed intriguing consumer behaviours, including the most notable late-night order: an ice cream order placed precisely at 2:58 AM in Delhi, underscoring India's growing appetite for spontaneous comfort shopping at unusual hours. Furthermore, tech products, especially mobile chargers, power banks, and cables, dominated late-night orders, underscoring India’s persistent digital dependency. Adding a quirky twist, India's well-known "breakup survival kit" comprising ice cream, chips, and tissues was ordered over a hundred times, revealing emotional motivations behind late-night shopping.

India Instantly Ordered 4X more Chocolates Last Minute on Valentine’s Day! Traditional festivals and celebrations increasingly embrace quick-commerce convenience. On Valentine's Day alone, orders for chocolates rose by 4X as compared to other days, emphasizing quick-commerce as the reliable solution for last-minute romantic gestures. Diwali orders spiked for festive essentials such as diyas, fairy lights and rangoli while New Year's Eve witnessed a marked uptick in chips and namkeen orders, clearly reflecting shifting consumer preferences for spontaneous celebrations.

One in Five Orders Were Rainy-Day Essentials This June: Consumers Shop by the Forecast This year, Flipkart Minutes recorded a sharp rise in demand for season-specific essentials, reaffirming consumer trust in rapid delivery for monsoon-driven needs. Flipkart Minutes offers over 1,000 monsoon-related products on the platform, out of which 90%, including umbrellas, raincoats, mop sets, insect killers, power banks, and torches, were sold in June 2025. One in every five orders placed on Flipkart Minutes in June included a monsoon-related product.

During the summer season, the top 5 summer products were curd/yoghurt, aerated drinks, ice creams, buttermilk, and fruit drinks, all saw strong spikes in afternoon and evening orders. Metro cities led summer demand, with Bangalore on top, followed by Delhi and Mumbai, and average delivery times of under 10 minutes during peak hours (1 PM - 3 PM).

How Personalisation has become India’s Quick-Commerce Obsession Personalisation emerged as a key trend, with categories like greeting cards growing by over 60X, wallet-and-belt combos by more than 7.5X, and wall photo frames by nearly 28X across topical occasions such as Father’s Day, Mother’s Day, and so on. Whereas product categories such as smart gadgets, grooming essentials, and coffee mugs also saw increased traction on the platform. Personal care products spiked this summer as well, with face washes, soaps, lotions, anti-tan, and after-sun products growing 1.6X. With the rise of portable tech, demand for accessories like chargers and earphones has steadily increased since the launch of Minutes in August 2024.

Flipkart remains committed to building a technology-enabled supply chain that aligns with the changing needs of Indian consumers. The insights emerging from Flipkart Minutes reinforce the growing demand for precision, personalisation, and presence in the moment. As shopping behaviours evolve, Flipkart’s differentiated fulfilment approach across hyperlocal, same-day and next-day models continues to deliver with speed, relevance and scale.

From essential groceries to indulgent treats and emergency tech, Flipkart Minutes exemplifies the company’s mission to make every shopping experience timely, intuitive, and truly customer-first.

(Disclaimer: The above press release comes to you under an arrangement with Newsvoir and PTI takes no editorial responsibility for the same.). PTI PWR

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