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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
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
Show AI Summary
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
Show AI Summary
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
Show AI Summary
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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Building for Billions: Flipkart Unveils the Tech Powering Next-Gen Shopping

September 2, 2025

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Bengaluru, Karnataka, India (NewsVoir) • Flipkart doubles down on tech to deliver trusted, personalised shopping – from smarter search and creator-led commerce to faster, seamless delivery • With a deep focus on credit access and loyalty programs, Flipkart is simplifying commerce and making it affordable for a broader, more inclusive audience • Next-gen technologies and platform-first thinking take center stage ahead of The Big Billion Days 2025 Flipkart today hosted Flipkart Tech Day 2025: ‘Next-Gen E-commerce – Unlocking Value Through Innovation at its Core’ at its headquarters in Bengaluru. The immersive showcase brought together technology experts and senior leadership from Flipkart for a behind-the-scenes experience of the cutting-edge technologies fueling the platform's transformation.

As Flipkart prepares for the upcoming festive season and The Big Billion Days 2025, Tech Day underscored its commitment to platform-first thinking and innovation-led growth.

Speaking at the media briefing, Flipkart leaders presented the company’s ambitious vision to lead India’s e-commerce through platform-first innovation.

Bharath Chinamanthur, SVP, leading seller experience, fulfillment & supply chain technology, shared Flipkart’s tech-led approach to scaling seller and logistics systems. Sellers use NXT Insights for real-time data and CVP (Customer Value Proposition) Insights for GenAI-driven recommendations on selection, speed, and inventory. Logistics innovations like address intelligence, auto-geocoding, and a two-tier last-mile model enable faster, more precise deliveries.

Ramesh Gururaja, SVP, Consumer Products and Growth, offered a preview of Flipkart’s refreshed app experience for The Big Billion Days. Built for next-gen users, the app features a personalized, trend-aware homepage, decluttered product pages, and AI-powered search for smarter discovery. Enhancements include deal-aware feeds, dynamic recommendations, and a new Flipkart Black paid loyalty program with exclusive benefits.

Sandhya Kapoor, SVP & Head, Central Platform Organisation, shared how Flipkart’s platform-first approach drives scale and reliability across the customer journey. Built for peak festive demand, its platforms ensure seamless app performance, automated testing, and real-time monitoring. These core capabilities enable Flipkart to deliver consistent, high-quality experiences at scale.

The Big Billion Days 2025: Where Innovation Meets Celebration Flipkart Tech Day 2025 served as a strategic prelude to this year’s The Big Billion Days (BBD), one of India’s most-anticipated festive shopping events. With a renewed emphasis on joyful discovery and seamless value delivery, Flipkart is set to offer its most intelligent and immersive TBBD experience to date. The following innovation pillars are central to shaping the TBBD 2025 journey: 1. App Experience and Interface Design: Flipkart has reimagined its homepage as a dynamic, visually rich environment that enables effortless offer discovery. Enhanced storytelling, high-quality imagery, and subtle motion design guide users intuitively across categories. Haptic feedback adds a tactile dimension to key interactions, making the app feel more responsive and premium.

Post-purchase, the redesigned order details page offers complete shipment visibility through a clean, decluttered interface - reducing customer anxiety and enhancing satisfaction.

2. Discovery and Personalisation: Flipkart’s AI-powered semantic search bridges vocabulary gaps and accurately interprets user intent, matching queries with both textual and visual catalog data. Advanced recommendation engines analyze user preferences and product attributes at a granular level to deliver highly relevant suggestions.

The Feed - Flipkart’s infinite scroll discovery interface - draws inspiration from visual discovery engines, enabling real-time, snackable product exploration. It adapts instantly to user behavior, encouraging repeat engagement.

3. Content-Led Commerce: Recognizing that over 70% of Gen Z shoppers prefer video-assisted experiences, Flipkart is scaling video commerce through two key initiatives: Creator Cities: Large-format production studios in Mumbai, Bengaluru, and Gurugram for high-quality content creation.

Creatorhood: A digital onboarding platform enabling remote video creation for aspiring influencers.

Video content is now embedded across the user journey - from homepage and category pages to search and product detail pages. Dedicated destinations like ‘Play’ and ‘LiveShop’ surface personalized video content based on browsing behavior.

4. Loyalty & Rewards: Flipkart Plus now features Silver and Gold tiers, determined by annual transaction volume. Members earn SuperCoins (1% for Silver, 2% for Gold) and enjoy up to 5% savings across purchases. Benefits include Plus Treats and Early Access Days with enhanced bank offers of 12%–15%.

Flipkart Black, the paid loyalty program, offers uninterrupted lifestyle benefits such as YouTube Premium, free Cleartrip cancellations, and 5% SuperCoin earnings across Flipkart platforms. Priced at Rs. 1,499/year, it is currently available at an introductory pricing of Rs. 990.

5. Fintech and Affordability The Fintech team continues its mission to democratize credit access. Credit For All (CFA) allows both Existing To Bank (ETB) and New To Credit (NTC) users to access instant EMIs. ETB users benefit from one-tap approval, while NTB users undergo eKYC and real-time Flipkart EMI limit approvals.

Flipkart has launched a co-branded credit card with SBI to enhance affordability and expand access to formal credit. It offers 5% cashback on Flipkart and 4% on select partners, making everyday purchases more rewarding. Customers can apply digitally via the Flipkart app and receive instant joining benefits worth Rs. 1,250, along with fee waivers and 1% unlimited cashback on other eligible spends.

6. Scale and Reliability Readiness: Flipkart ensures platform stability and performance during peak demand through advanced fault simulation. This system rigorously evaluates infrastructure resilience across Kubernetes and virtual machine environments. Supported by strong cross-functional collaboration and a culture of seamless execution, these efforts help maintain reliability, scalability, and a consistent customer experience during high-traffic periods.

7. Logistics and Last-Mile Innovation: The Wishmaster App now enables 10-minute self-serve onboarding using real-time document authentication and facial recognition. WhatsApp-based asynchronous communication reduces failed delivery attempts. Earnings are calibrated based on delivery effort and density, while automated payouts help streamline settlements.

8. Seller Empowerment and Tools: Flipkart’s Seller Hub has been redesigned for simplicity and speed, built on the MURV (Modular, Upgradable, Reusable, and Versatile) design system. Sellers begin with added benefits such as product quality and delivery speed that helps them to grow their business on the platform. Marketplace fees and settlements have been streamlined to support competitive pricing.

The NXT Insights Platform offers AI-powered analytics - covering selection, returns, reliability, pricing, and market trendsfree of charge, enabling informed decision-making for sellers of all sizes.

9. Customer Support & Post-Purchase Enhancements: GenAI-powered CX Copilots assist support agents in real time, enabling faster query resolution. A new image-based returns engine uses product visuals and metadata to validate claims, facilitating quicker refunds and reducing fraud.

The Experience Centre - ‘Unboxed’: Immersive, Interactive, Informative Attendees were guided through Flipkart’s Experience Centre, ‘Unboxed’ – a dynamic space demonstrating how the Flipkart Group integrates intelligence, infrastructure, and integrity to serve its consumers and empower its sellers.

The tech walkthrough affirmed the Flipkart Group’s commitment to innovation - fulfilling billions of dreams.

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

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