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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's Retirement Index Score Rises to 48 as Early Planning Grows; 50% of Urban Indians Now Prioritize Early Retirement Savings: Axis Max Life IRIS 5.0

November 4, 2025

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New Delhi, Delhi, India (NewsVoir) • India’s retirement readiness continues to improve, with the IRIS Index score rising from 44 to 48 over four years, reflecting stronger financial, health, and emotional awareness. • Half of urban Indians now believe retirement planning should begin as soon as they start earning. • Awareness is rising faster than action: while 43% of respondents feel planning should start before 35, only 37% have achieved even a quarter of their target corpus. • Financial sufficiency remains low, with 63% of respondents believing their savings would last less than 10 years after retirement. • Women Cohort and Gig Workers show higher preparedness levels. • Emotional and environmental anxieties remain high: 71% fear loneliness, 72% expect financial dependence on family, and 79% worry about the impact of climate change on retired life. • East zone leads the country in preparedness, while North and West show strong recovery in health and financial readiness post-COVID. Axis Max Life Insurance Limited (“Axis Max Life” / “Company”), formerly known as Max Life Insurance Company Limited, today unveiled the findings of the fifth edition of its annual India Retirement Index Study - IRIS 5.0, conducted in partnership with Kantar, a leading global marketing data and analytics company. Now in its fifth consecutive year, the India Retirement Index Study (IRIS) continues to serve as India’s most comprehensive benchmark on retirement preparedness—assessing financial, health, and emotional readiness. The 2025 edition shows steady progress, with the Index score rising from 44 in 2022 to 48 in 2025, driven by stronger fitness habits, regular health check-ups, and higher insurance adoption. While financial confidence remains stable, awareness about the required retirement corpus continues to be low, with 7 in 10 respondents believing that ₹1 crore would be sufficient for a comfortable retirement. Health preparedness records the sharpest gain, highlighting India’s growing focus on wellness as a pillar of secure retirement. This year’s edition sharpens focus on segments such as Return Migrants and Gig Workers, capturing the diverse emotional and financial realities shaping India’s retirement landscape. For the first time, Return Migrants have been studied separately as a cohort, offering insights into how this group balances financial confidence with renewed focus on health and well-being after relocation. With rising awareness, better product understanding, and growing health consciousness, IRIS 5.0 reflects a more retirement-ready India preparing for a secure and balanced future. Sumit Madan, MD and CEO, Axis Max Life said, “IRIS 5.0 signals a clear shift towards smarter and more holistic retirement planning. Today’s consumers are showing greater health consciousness, higher product awareness, and sustained financial confidence. As health preparedness improves, the next frontier is building adequate retirement corpus and emotional resilience. The study also highlights a growing segment of individuals uncertain about how to begin their planning, reinforcing the need for a trusted advisory support. Diverse segments such as gig workers, women, and return migrants require tailored and inclusive solutions. The findings underline how the next phase of growth for the industry will hinge on delivering more innovative, advisory-led, and inclusive retirement solutions.” Soumya Mohanty, MD and Chief Client Officer, South Asia, Kantar said "IRIS 5.0 highlights evolving retirement behaviors across India. The rise in product awareness and health-first behaviour is notable. The study’s richer segmental analysis provides actionable cues for policymakers, employers and financial service providers to move from awareness to measurable preparedness.” Key findings from the India retirement index study 5.0 Retirement readiness rises across the country • IRIS 5.0 reflects a positive trend in retirement preparedness, with the national score rising to 48 — a 4-point increase from IRIS 2.0. Health readiness has improved to 46, up from 41 in 2022, driven by increased physical activity, more frequent preventive health checks, and a rise in health insurance ownership (now at 50%, +7%). Emotional preparedness remains the next priority, with 71% reporting loneliness concerns in certain cohorts. Emotional confidence has slightly declined, with 72% of Indians expressing concern about potential dependence on family. Women Show Slight Edge Over Men in Retirement Readiness Women have a slightly higher retirement preparedness score at 49, compared to 48 for men. A greater proportion of women (82%) expect to remain physically fit during retirement, versus 78% of men. However, women are 8% less likely to invest in risk-based financial instruments and report higher levels of loneliness (74%), underscoring the dual need for both emotional and financial empowerment. Metros Lead in Retirement Preparedness, Awareness Grows Across Indian Cities • IRIS 5.0 indicates a clear upward trend in retirement preparedness across India’s urban centers, led by metros and Tier I cities. Metros, with an IRIS score of 50, reflect a stronger focus on wellness and financial discipline, as more residents adopt regular fitness routines and preventive check-ups (60%). Tier I cities are fast following suit, showing a 13% rise in regular physical activity and a 21% increase in participation in risk-based investments, pointing to growing comfort with diverse financial tools. Regional Insights Highlight Varied Preparedness Across The Country • East India leads in overall preparedness, balanced across finance, health, and emotion. • North India shows highest health recovery post-COVID (+11 points in Health Index), boosted by monitoring and insurance adoption. • West India demonstrates strong financial momentum (+7 points in Finance Index), driven by stock (+15%) and real estate (+20%) investments. • South India reflects a balanced wellbeing profile, marked by a 4-point improvement in health sentiment (43) and emotional resilience (59), even as financial sentiment holds steady at 47 points. Segment Spotlight: Diverse Cohorts Show Varying Preparedness • Gig Workers (IRIS index score - 47): Reflecting India’s evolving workforce, gig professionals show growing financial independence but weaker health engagement. However, 74% worry about meeting family’s basic needs, and many lack access to structured retirement or health benefits, highlighting a need for inclusive coverage. • Return Migrants (IRIS index score - 48): Financially confident due to earlier urban exposure, but 52% haven’t had preventive health checks in three years; thus offsetting savings optimism by health neglect. • Women (IRIS index score - 49): Lead in financial and health preparedness, driven by stronger health optimism (+7) and rising fitness focus, reflecting proactive planning and higher retirement confidence compared with men (IRIS 48).These cohorts highlight India’s shifting workforce and post-pandemic realities, pointing to a broader need for tailored financial and wellness solutions. Awareness vs Preparedness Gap Persists • Awareness improves with the average of known financial products rising to 11.6 in 2025 (IRIS 5.0) from 8.7 in 2022 (IRIS 2.0). Friends/family (72%) and financial advisors (47%) remain key sources. • Preparedness gap: Only 37% have achieved ≥25% of their target corpus; many underestimate required corpus for retirement (₹1 crore remains common benchmark). NPS & Workplace Benefits Gain Traction • NPS awareness at 66% (up from 59%), but ownership stable at approx. 17% due to complexity and need for guidance. • As per IRIS 5.0, Employee Provident Fund (EPF) continues to be the most common benefit, cited by 69% respondents. When asked about additional add-ons, they would like to receive, regular health check-ups (55%) and medical or hospitalization coverage (49%) emerged as the top preferences. Health & Prevention Take Center Stage • 81% engage in regular physical activity (+5 pts since 2022). • Preventive check-ups remaining at 55%. • Health insurance ownership at 50% (+7 pts), signaling growing focus on wellness and proactive health management. Read more about the India Retirement Index Study at - <Website Link> About India Retirement Index Study India Retirement Index Study is an annual retirement study by Axis Max Life conducted in partnership with KANTAR. The study evaluates India’s readiness for a healthy, peaceful, and financially secure retirement across three indices Financial, Health, and Emotional Preparedness each measured on a scale of 0 to 100. The fifth edition surveyed 2,242 respondents across 28 cities, including new segments such as gig workers. About Axis Max Life Insurance (https://www.axismaxlife.com) Axis Max Life Insurance Limited, formerly known as Max Life Insurance Company Ltd., is a Joint Venture between Max Financial Services Limited (“MFSL”) and Axis Bank Limited. Axis Max Life Insurance offers comprehensive protection and long-term savings life insurance solutions through its multi-channel distribution, including agency and third-party distribution partners. It has built its operations over two decades through a need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital. As per annual audited financials for FY2024-25, Axis Max Life has achieved a gross written premium of INR 33,223 Cr. For more information, please visit the Company’s website at www.axismaxlife.com. About Kantar Kantar is the world’s leading marketing data and analytics business and an indispensable brand partner to the world’s top companies. We combine the most meaningful attitudinal and behavioural data with deep expertise and advanced analytics to uncover how people think and act. We help clients understand what has happened and why and how to shape the marketing strategies that shape their future. To know more, visit www.kantar.com. (Disclaimer: The above press release comes to you under an arrangement with Newsvoir and PTI takes no editorial responsibility for the same.). PTI

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