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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.
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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India Leads Historic 20th Tipitaka Chanting Ceremony, Reawakening Buddhism’s Motherland

October 16, 2025

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Mumbai (Maharashtra) [India], October 16: Recently, A press conference was held at the Press Club in Mumbai to announce the 20th International Tipitaka Chanting Ceremony, scheduled to take place from December 2–13, 2025, at the Sacred Seat of Enlightenment in Bodhgaya, Bihar. Organized by seventeen Buddhist organizations from across India, this milestone event celebrates two decades of spiritual unity and the revitalization of the Buddha’s teachings under the sacred Bodhi Tree. The press conference was graced by esteemed dignitaries, including ITCC President Most Venerable Bhante Sanghasena, Secretary General Most Venerable Bhante Vinay Rakkhita, Vice President Most Venerable Bhante Agradhamma, and Treasurer Venerable Ayya Sakya Dhammadeena, who shared their vision for this historic gathering. Since its inception in 2006, the International Tipitaka Chanting Ceremony has grown into the largest international Buddhist event in South East Asia and India, uniting monastics and lay devotees from around the world to celebrate and revitalize the Dharma in the land where the Buddha attained enlightenment. This year, India takes the lead in hosting this noble tradition, reaffirming its role as the motherland of global Buddhism. A Global Gathering for Peace and Spiritual Revival The 10-day festival will bring together over 20,000 Indian monks and laypeople, including 10,000 devotees from Maharashtra, and more than 5,000 international monastics from Thailand, Myanmar, Sri Lanka, Cambodia, Laos PDR, Vietnam, Indonesia, Nepal, Bangladesh, and the United States. Over 1,000 volunteers from across India, including 500 from Maharashtra, will dedicate their service to support the event. The ceremony will feature daily recitations of the Buddha’s teachings in Pali under the Bodhi Tree, discourses by Buddhist Dhamma gurus, question-and-answer sessions, an art gallery, cultural performances by artists from India and abroad, and a vibrant exchange of ideas and cultures. A highlight of this year’s event is the consecration and donation of 220 four-foot golden Buddha statues, handcrafted in Odisha, to lay devotees and communities across India. These statues, symbolizing wisdom and compassion, will serve as spiritual foundations for new temples, meditation centers, and community spaces, marking the resurgence of Buddhism in its sacred homeland. Event Highlights The ceremony will commence on December 2, 2025, with a grand international Buddhist parade at 8:00 a.m., featuring pandals representing Buddhist nations in a resplendent display of devotion and unity. Thai and Vietnamese devotees will offer magnificent floral decorations, with vivid blossoms honoring the Buddha beneath the Bodhi Tree. The event will conclude on December 13 with a commemorative walk from Jethian Valley to the Mango Grove of Rajgir, retracing the Buddha’s footsteps, with over 1,000 pilgrims from 22 countries expected to join this historic yatra. Confirmed dignitaries for the opening ceremony include Pema Khandu, Chief Minister of Arunachal Pradesh; Chowna Mein, Deputy Chief Minister of Arunachal Pradesh; and Wangki Lowang, Minister of Forest & Environment, Mining & Minerals, Government of Arunachal Pradesh. Invitations have been extended to Mohammad Arif Khan, Governor of Bihar; Kiren Rijiju, Union Minister (December 6); Ramdas Athawale, Minister of State for Social Justice & Empowerment (December 7); and Nitin Gadkari, Union Minister, for the closing ceremony on December 12. Economic and Cultural Impact: The event is expected to generate approximately 20 crore in business for Bodhgaya and its surrounding areas, significantly boosting the local tourism and hospitality sectors. With chartered and scheduled flights bringing international pilgrims, the ceremony underscores Bodhgaya’s importance as a global spiritual hub. Voices of Inspiration: Wangmo Dixey, Executive Director of the Light of Buddhadharma Foundation International (LBDFI) and founder of the event, shared: “It is a great honor to bring the sound of Dharma back to the Motherland of India. Each recitation under the Bodhi Tree carries a wish for peace—not just for ourselves, but for all beings. In these urgent times, our prayers in Bodhgaya become a global call for unity, compassion, and harmony.” Most Venerable Bhante Sanghasena, President of ITCC–India, reflected: “For twenty years, the International Tipitaka Chanting Ceremony has served as a sacred bridge connecting the Buddha’s homeland with Buddhist nations worldwide. Beneath the Bodhi Tree, the voices of the Sangha rise together as one—transcending borders, traditions, and languages. I express my deep appreciation to Most Venerable Tarthang Tulku Rinpoche and Ms. Wangmo Dixey, whose noble vision and tireless efforts gave birth to this extraordinary spiritual movement. This ceremony is a spiritual renaissance for humanity, reminding us that the Buddha’s timeless wisdom continues to illuminate our world today. I wholeheartedly invite all to join this historic gathering.” Supporting the Sangha and Attendees A 30,000-square-foot food tent at the Kalachakra grounds beside the Mahabodhi Temple will provide free meals to all participants, with daily dāna offerings hosted by lay devotees and Buddhist organizations in a spirit of generosity and fellowship. About the Organizers The event is organized by the Light of Buddhadharma Foundation International (LBDFI) in collaboration with the International Tipitaka Chanting Council (ITCC), dedicated to preserving and promoting the Buddha’s teachings through prayer gatherings and pilgrimages. For more information, visit www.lbdfi.org and www.tipitakachantingcouncil.org. The 20th International Tipitaka Chanting Ceremony invites all to join this historic gathering to lend their voices to the sacred chanting and their hearts to the preservation of the Buddha Dhamma. (Disclaimer: The above press release comes to you under an arrangement with PNN and PTI takes no editorial responsibility for the same.). PTI

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