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    No commitment given to bank unions on 5-day work week by Finance Ministry, say sources
    Ethanol can help raise farmers' income and reduce fuel imports: Gadkari
    Rupee rises 19 paise to close at 95.80 against US dollar
    Check Credit Score and Understand Credit Health with the Bajaj Finance Credit Pulse Report
    Europe uses subsidies, taxes and policy pauses to offset pain of high fuel prices
    Loyalty Juggernaut Advances Responsible AI with ISO/IEC 42001 Certification
    Draft Warehousing Operations Regulations, 2026 - uploading on the CBIC website for inviting comments/views/suggestions from stakeholders
    From Digital Banking to Resilient Banking – Technology, Cyber Security and AI as Pillars of Trust - Address by Shri Rohit Jain, Deputy Governor at t...
    Union Minister of Commerce and Industry Shri Piyush Goyal Highlights India’s Expanding Global Economic Engagement and Growing Integration with Globa...
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    MCA issues advisory - cautions public against high-return promises by non-compliant Nidhi Companies
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September 25, 2026
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Five-day banking proposal remains under consideration amid strike plans and measures for uninterrupted banking and advance disbursements.
Five-day banking remains under governmental consideration, with no Finance Ministry commitment to implementation. Unions linked the proposal to the 12th Bipartite Settlement/9th Joint Note, which contemplated extended Monday-to-Friday working hours. Family pension revision and a pension option for resignees were identified as addressed, while withdrawal of the Performance Linked Incentive scheme remains in abeyance. Public sector banks were instructed to remain open on the preceding Sunday, and central government salaries, wages and pensions were directed to be disbursed in advance.
September 25, 2026
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Alternative fuel transition promotes ethanol, electric and hydrogen mobility to reduce imports, pollution, and strengthen farm income.
Alternative-fuel and public-transport measures seek to reduce dependence on imported petroleum, curb air pollution, and support farmer income and employment. Ethanol is positioned as a farm-income source through increased demand and returns for maize growers, alongside electricity, hydrogen and waste-derived CNG. Development and introduction of flex-fuel vehicles, using engines capable of operating on ethanol, electric tractors, hydrogen-powered vehicles and hydrogen buses form part of a cleaner-mobility strategy.
September 25, 2026
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Foreign-exchange market intervention expectations supported rupee appreciation amid improved risk sentiment, while importer demand and crude prices constrained gains.
Foreign-exchange market conditions supported a 19-paise appreciation of the rupee to 95.80 against the US dollar, aided by improved global risk sentiment and expectations of Reserve Bank intervention. Dollar demand from importers, high crude prices and US dollar strength constrained gains. Lower crude prices and dollar weakness could support the rupee, while geopolitical escalation may create pressure. Market participants expected intervention if the currency weakened toward 96.
September 25, 2026
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Credit health assessment combines score, repayment history, utilisation, accounts and enquiries to support informed borrowing and profile monitoring.
Credit health is broader than a numerical credit score and encompasses the way credit has been managed over time. Credit analysis requires a combined review of the score, repayment history, credit accounts, credit utilisation, credit history and credit enquiries. A credit report may identify management of EMIs and credit-card dues, existing borrowing obligations, use of revolving credit relative to available limits, and recent lender checks associated with credit applications. Incorrect or unfamiliar entries may be reviewed and, where necessary, raised with the relevant lender or credit bureau.
September 25, 2026
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Fuel-price mitigation measures use tax reductions, targeted subsidies and energy-security policies to ease pressure on households and energy-intensive industries.
European fuel-price intervention combines targeted subsidies, fuel-tax reductions, temporary regulatory flexibilities and energy-security investment to moderate the economic effects of sharply higher gasoline and diesel prices caused by disrupted supplies. Member States have temporary discretion to grant state aid to households and energy-intensive sectors, including agriculture, transport and fishing, and limited flexibility under EU spending rules for investments that improve energy security and reduce dependence on imported fossil fuels.
September 25, 2026
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AI management certification anchors responsible lifecycle governance, transparency, accountability, security, and human oversight for agentic loyalty systems.
ISO/IEC 42001:2023 certification applies to an Artificial Intelligence Management System governing AI development, deployment, oversight and continual improvement within the GRAVTY platform. The framework supports AI-related risk management, responsible governance, transparency, accountability, security and human oversight throughout the AI lifecycle. Its scope includes supervised and unsupervised learning models and large language models supporting personalised engagement, fraud management, loyalty intelligence, autonomous decision-making, operational automation and workflow support.
September 25, 2026
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Digital warehousing controls propose electronic tracking, secure transport, monthly returns, and risk-based compliance verification for warehoused goods.
Draft Warehousing Operations Regulations, 2026 would require public and private warehouse licensees to use the electronic portal and a digital warehouse management system for receipt, storage, transfers, removals and accounting of warehoused goods. Transport would generally require a one-time-lock and transit-risk insurance, subject to specified exemptions. Licensees would verify locks and goods, report discrepancies, maintain auditable electronic records, submit monthly returns, and permit removals for home consumption or export only upon electronic clearance orders. Non-confirmation, discrepancies and contraventions would trigger information demands, risk-based verification and action under the Customs Act.
September 25, 2026
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Technology risk governance requires banks to retain accountability, test resilience, and govern artificial intelligence before scaling financial services.
Technology risk governance must treat technology architecture as a first-order enterprise risk, alongside conventional financial risks, because the availability and integrity of core banking, payments, onboarding, credit, fraud-monitoring and reporting systems determine whether customers can access essential financial services. Banks may outsource technology functions but retain accountability for access controls, concentration, recoverability, data protection and exit options. Effective resilience requires secure architecture, asset visibility, timely remediation of vulnerabilities and legacy systems, identity and access management, effective controls, third-party oversight, post-incident learning, and regular recovery testing.
September 25, 2026
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Global value chain integration advances trade partnerships, semiconductor capacity, and deep-tech innovation within broader economic engagement.
India's global economic engagement prioritises trade and economic partnerships to strengthen participation in global value chains and supply chains, facilitating cross-border movement of goods and services. The approach is linked to projected semiconductor demand and development of artificial-intelligence capabilities, alongside innovation, deep-tech startup support and private-sector space activity. The startup ecosystem is described as having expanded substantially, with current policy emphasis on deep-tech innovation and participation in global markets.
September 25, 2026
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Trade agreement review targets balanced, user-friendly, trade-facilitative rules to address asymmetries and strengthen regional commerce.
The ongoing review of the ASEAN-India Trade in Goods Agreement seeks to enhance trade flows, address trade asymmetries, and deliver a balanced, effective, user-friendly, and trade-facilitative arrangement for businesses. It forms part of India's commitment to mutually beneficial trade partnerships and regional trade arrangements.
September 24, 2026
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Portfolio management reforms broaden permitted investments, establish independent fund managers, and retain registered managers' responsibility for client portfolios.
Portfolio-management reforms replace the 2020 framework and expand investments into IPOs, primary-market debt, listed overseas equity and debt, and direct plans of Indian mutual fund schemes. Investment-grade unlisted non-convertible debt may comprise up to 10 per cent of client assets under management with client consent. Independent Fund Managers may operate with registered portfolio managers, which retain responsibility and liability. Accredited-investor eligibility is broadened, while specified compliance requirements are relaxed where adequate audit trails and internal controls exist.
September 24, 2026
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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.

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Trump hosts Turkiye's Erdogan at US considers lifting a ban on F-35 sales to NATO ally

September 26, 2025

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Washington, Sep 25 (AP) President Donald Trump held talks with Turkish President Recep Tayyip Erdogan at the White House on Thursday and signalled that the United States might soon lift its hold on sales of advanced fighter jets to Ankara.

During Trump's first term, the US removed Turkiye, a NATO ally, from its flagship F-35 fighter jet programme after Turkiye purchased an air defence system from Russia.

US officials worried that Turkiye's use of Russia's S-400 surface-to-air missile system could be used to gather data on the capabilities of the F-35 and that the information could end up in Russian hands.

Trump started his two-hour meeting with Erdogan by offering hope that a resolution to the matter could be found during the leaders' talks.

“He needs certain things, and we need certain things, and we're going to come to a conclusion. You'll know by the end of the day," Trump said. The president added to Erdogan, “And I think you'll be successful with buying the things" you would "like to buy.” The president, in a brief exchange with reporters as he bid farewell to Erdogan, called it a “good meeting” but did not offer further details.

It was Erdogan's first trip to the White House since 2019. They forged what Trump has described as a “very good relationship” during his first White House term.

Over the years, US officials have cited concerns about Turkiye's human rights record under Erdogan and the country's ties with Russia. Tensions between Turkiye and Israel, another important American ally, over Gaza and Syria have made relations difficult with Turkiye at times.

Trump in remarks before reporters focused his concerns on Turkiye's continued economic relationship with Russia.

Turkiye has been one of the biggest buyers of Russian fossil fuel since the European Union announced in early 2023 it would boycott most Russian seaborne oil.

Since January 2023, Ankara has purchased more than USD 90 billion in Russian oil, coal and natural gas.

“The best thing he could do is not buy oil and gas from Russia,” Trump said of Erdogan.

Trump added that Erdogan is respected by both Russian President Vladimir Putin and Ukraine President Volodymyr Zelenskyy.

“I think he could have a big influence if he wants to,” Trump said.

The push on Erdogan to become more engaged in pressuring Putin comes after Trump earlier this week said he believed Ukraine could win back all territory lost to Russia in the war. It was a dramatic shift from Trump's repeated calls for Kyiv to make concessions to end the war.

Erdogan has made clear he is eager to see the hold on F-35s lifted, telling Trump that he came prepared to “thoroughly discuss” the issue.

The Turkish president was even blunter in a television interview this week. “I don't think it's very becoming of strategic partnership, and I don't think it's the right way to go,” Erdogan said in an interview this week on Fox News Channel's “Special Report with Bret Baier.” Past reluctance to engage with Turkiye Democratic President Joe Biden's administration kept Erdogan, who has served as president since 2014 and was prime minister for more than a decade before that, at an arm's length during Biden's four years in office.

The reluctance to engage deeply was borne out of Turkiye's record of democratic backsliding as well as Ankara's close ties to Moscow.

Opposition parties and human rights organisations have accused Erdogan of undermining democracy and curbing freedom of expression during his more than two decades in power.

International observers say that baseless investigations and prosecutions of human rights activists, journalists, opposition politicians and others remain a persistent problem in Turkiye.

Trump sees Erdogan as a critical partner and credible intermediary in his effort to find ends to the wars in Ukraine and Gaza. The Republican's administration is also largely in sync with Turkiye's approach to Syria as both nations piece together their posture toward the once isolated country after the fall of Syrian leader Bashar al-Assad in December.

Trump and European leaders have followed Erdogan in embracing Syrian President Ahmad al-Sharaa, who once commanded a rebel group that was designated a foreign terrorist organisation.

Trump also said that Erdogan deserves credit for backing the rebel forces that ousted Assad from Syria.

“I think President Erdogan is the one responsible for Syria, for the successful fight in ridding Syria of its past leader,” Trump said. “He doesn't take the responsibility, but it's actually a great achievement.” Trump's chief diplomat, Secretary of State Marco Rubio, met with al-Sharaa on Monday on the sidelines of the UN General Assembly.

Erdogan sees a key role for Turkiye Erdogan has sought to position his country as a point of stability in a tumultuous moment. He believes Turkiye can play an essential role for European security and is able to span geopolitical divisions over Ukraine and Syria as well as US tariffs, which have sparked a global trade war.

Turkiye also believes it has emerged as a credible broker in the Black Sea region, preserving relations with both Ukraine and Russia.

Turkiye is influential in neighbouring Syria. The rebel groups it supported during the civil war took power in December. But the fall of Assad aggravated tense relations between Turkiye and Israel.

Trump has urged Israeli Prime Minister Benjamin Netanyahu to be “reasonable” in his dealings with Ankara.

Erdogan on Tuesday took part in a group meeting hosted by Trump on the sidelines of the General Assembly, when Trump gathered the leaders of eight Arab and Muslim countries to discuss the war in Gaza.

Erdogan has been critical of Israel's handling of the war, which was launched after Hamas militants attacked Israel on October 7, 2023, killing 1,200 people and takin about 250 people captive. More than 65,000 Palestinians have been killed, according to Gaza's Health Ministry, and about 90 per cent of homes in the territory have been destroyed or damaged.

Erdogan, in his UN address, alleged that Israeli forces have committed genocide, an allegation contested by Israel and United States. (AP) GRS GRS

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