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    IDFC FIRST Bank enables Direct Tax payments through UPI, cards, net banking and branches
    Sensex slumps 1,248 pts as IRDAI proposal hits financial shares; rising crude, US yields weigh
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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
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
Show AI Summary
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.
September 24, 2026
Show AI Summary
Restricted firecracker imports concealed through misdeclaration trigger seizure and criminal investigation under customs enforcement law.
Concealment of restricted firecrackers within an import container declared as bottles and wallpaper resulted in customs seizure under the Customs Act, 1962. Firecracker imports are restricted under the Foreign Trade Policy and require valid Directorate General of Foreign Trade authorisation and a Petroleum and Explosives Safety Organisation licence under the Explosives Rules, 2008. Investigation into attempted clandestine clearance led to the arrest under the Customs Act of a key syndicate member alleged to have orchestrated the import.
September 24, 2026
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Merger-control approval permits FIHM's phased acquisition of IIFL Capital Services equity through subscription, open offer and promoter purchase.
Merger-control approval permits FIHM to acquire certain additional equity share capital of IIFL Capital Services through a preferential issue on a private-placement basis and through shares tendered in a mandatory open offer. FIHM may also buy shares from the target's promoters if its aggregate shareholding with HWIC remains below the Target Shareholding after these steps.
September 24, 2026
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Full ownership acquisition in beauty and personal care receives competition approval for skin care and hair care operations.
Competition approval covers L'Ore al India Private Limited's acquisition of the entire shareholding in Onesto Labs Private Limited. The proposed combination concerns India's beauty and personal care sector and places the Target under the Acquirer's full ownership. Both entities operate in beauty and personal care products, including skin care and hair care.
September 23, 2026
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Advance disbursement of central government pay addresses anticipated banking disruption, with subsequent adjustment against the following month's entitlements.
Advance disbursement of September 2026 salary, wages and pensions is authorised on 25 September for central government employees, industrial employees and pensioners because of the proposed bank strike. Payments constitute advance payments and must be adjusted after full monthly entitlements are determined, with any adjustment made from October salary or wages. End-of-month banking transactions should, where feasible, be processed in advance.

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China's diesel trucks shifting to electric; this could change global LNG, diesel demand

November 19, 2025

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Hanoi, Nov 19 (AP) China is replacing its diesel trucks with electric models faster than expected, potentially reshaping global fuel demand and the future of heavy transport.

In 2020, nearly all new trucks in China ran on diesel. By the first half of 2025, battery-powered trucks accounted for 22% of new heavy truck sales, up from 9.2% in the same period in 2024, according to Commercial Vehicle World, a Beijing-based trucking data provider.

The British research firm BMI forecasts electric trucks will reach nearly 46% of new sales this year and 60% next year.

Heavy trucks carry the lifeblood of modern economies. They also contribute significantly to global emissions of carbon-dioxide: In 2019, road freight generated a third of all transport-related carbon emissions.

Trucking has been considered hard to decarbonise since electric trucks with heavy batteries can carry less cargo than those using energy-dense diesel. Proponents of liquefied natural gas have viewed it as a less polluting option while technology for electric heavy vehicles matures.

Liquefied natural gas (LNG) is natural gas cooled to a liquid fuel for easy storage and transport.

China's trucking fleet, the world's second-largest after the US, still mainly runs on diesel, but the landscape is shifting.

Transport fuel demand is plateauing, according to the International Energy Agency and diesel use in China could decline faster than many expect, said Christopher Doleman, an analyst at the Institute for Energy Economics and Financial Analysis.

Electric trucks now outsell LNG models in China, so its demand for fossil fuels could fall, and "in other countries, it might never take off,” he said.

The share of electrics in new truck sales, from 8% in 2024 to 28% by August 2025, has more than tripled as prices have fallen. Electric trucks outsold LNG-powered vehicles in China for five consecutive months this year, according to Commercial Vehicle World.

While electric trucks are twice to three times more expensive than diesel ones and cost roughly 18% more than LNG trucks, their higher energy efficiency and lower costs can save owners an estimated 10% to 26% over the vehicle's lifetime, according to research by Chinese scientists.

“When it comes to heavy trucks, the fleet owners in China are very bottom-line driven,” Doleman said.

Early sales were buoyed by generous government incentives like a 2024 scheme for truck owners to trade in old vehicles. Owners can get up to about $19,000 to replace older trucks with newer or electric models.

Investments in charging infrastructure are also boosting demand for electric trucks.

Major logistics hubs, including in the Yangtze River Delta, have added dedicated charging stations along key freight routes. Cities like Beijing and Shanghai have built heavy-duty charging hubs along highways that can charge trucks in minutes.

CATL, the world's largest maker of electric vehicle batteries, launched a time-saving battery-swapping system for heavy trucks in May and said it plans a nationwide network of swap stations covering 150,000 km out of China's 184,000 km of expressways.

The surge in sales of electric trucks is cutting diesel use and could reshape future LNG demand, analysts say.

Diesel consumption in China, the second-largest consumer of the fuel after the US, fell to 3.9 million barrels per day in June 2024, down 11% year-on-year and the largest drop since mid-2021, partly reflecting the shift to LNG and electric trucks, according to the US Energy Information Administration.

“The rise of China's electric truck sector is one of the more under-reported stories in the global energy transition, especially given its potential impact on regional diesel trade flows,” said Tim Daiss of APAC Energy Consultancy.

LNG truck sales peaked in Sept 2023 and March 2024 after China eased transport restrictions imposed during the COVID-19 pandemic, said Liuhanzi Yang of ICCT Beijing. By June 2025, sales had slipped 6% as electric trucks gained ground.

Shell's 2025 LNG Outlook projects that demand for imported LNG in China, the world's largest LNG importer, will continue to rise partly due to LNG trucks. It also suggests LNG trucking might expand to other markets, such as India.

China's electric trucks are already cutting oil demand by the equivalent of more than a million barrels a day, estimates the New York-based research provider Rhodium Group.

But Doleman views LNG as a “transitional step” unlikely to be seen apart from in China, where a vast pipeline infrastructure, abundant domestic gas production and byproducts like coke oven gas created conditions conducive to LNG-fuelled trucking not seen elsewhere.

China's is planning new emission standards for vehicles that will limit multiple pollutants and set average greenhouse gas targets across a manufacturer's fleet. This will make it “almost impossible” for companies relying solely on fossil-fuel vehicles to comply, Yang said.

A 2020 ICCT study found LNG-fueled trucks cut emissions by 2%-9% over 100 years but can be more polluting in the short run due to leaks of methane, a potent planet-warming gas that can trap more than 80 times more heat in the atmosphere in the short term than carbon dioxide.

Modern diesel now nearly matches LNG in air-quality performance.

Already the world's largest exporter of passenger cars, China is turning its sights to the global electric truck market.

Chinese automakers have kept costs down and sped up truck manufacturing while ensuring different parts work seamlessly together with in-house production of most key components, from batteries to motors and electronics, said Bill Russo, founder and CEO of the Shanghai-based consultancy Automobility Limited.

China's hyperactive delivery industry, particularly urban freight trucks, has been an early proving ground for these vehicles, he noted.

In 2021-2023, exports of Chinese heavy-duty trucks including EVS to the Middle East and North Africa grew about 73% annually while shipments to Latin America rose 46%, according to a McKinsey & Company report.

The share of electrics is expected to grow, though limited charging infrastructure could pose a challenge.

China's Sany Heavy Industry says it will start exporting its electric trucks to Europe in 2026. It is has already exported some electric trucks to the US, Asian countries like Thailand and India, and the the United Arab Emirates, among others.

In June, Chinese EV maker BYD broke ground in Hungary for an electric truck and bus factory, with an eye toward a mandatory European target of cutting carbon emissions from new trucks by 90% by 2040 compared to 2019 levels.

Prices of zero-emission trucks in Europe must roughly halve to become affordable alternatives to diesel, according to another study in 2024 by McKinsey.

Volvo told The Associated Press that it didn't comment on competitors but welcomed “competition on fair terms," while Scania did not respond.

“Things are shaking up,” Daiss said. (AP) SCY SCY

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