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September 25, 2026
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Stakeholder consultation on draft warehousing operations regulations requires structured comments submitted electronically within the prescribed consultation period.
Stakeholder consultation on the draft Warehousing Operations Regulations, 2026 is initiated through public-domain publication on the CBIC website. Comments, views and suggestions must be submitted within 15 days in a structured format identifying the relevant regulation number and title, proposed modification, and supporting reasons or remarks. Responses must be sent through the specified email channels in MS Word, a compatible format, or machine-readable PDF format.
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.
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.

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Ruling, Opp parties to lock horns in big battle for Mumbai, 28 other civic bodies on Jan 15

December 15, 2025

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Mumbai, Dec 15 (PTI) A year after assembly polls, Maharashtra will see another big electoral battle on January 15 when 29 municipal corporations, including the cash-rich Mumbai, will vote, giving an opportunity to ruling Mahayuti and Opposition MVA to test their popularity in major urban centres.

As many as 2,869 seats, including 227 of the Brihanmumbai Municipal Corporation (BMC), will be up for grabs in these corporations where more than 3.48 crore voters, including 1,81,93,666 men and 1,66,79,755 women, will be eligible to exercise their franchise, the State Election Commission (SEC) said while announcing the much-awaited polls schedule on Monday.

Votes will be counted on January 16 and the outcome will be keenly watched as the BJP-led Mahayuti will seek to stamp its supremacy in urban landscape, especially in Mumbai, while the Opposition parties will try to redeem themselves after last year's rout in assembly polls.

Asia's largest civic body with more than Rs 74,000 crore budget in 2025-26, the BMC was ruled by the undivided Shiv Sena with the BJP as its junior ally for more than two decades till 2017 and the polls will be a litmus test for former CM Uddhav Thackeray and his party Shiv Sena (UBT).

Ahead of the polls, Uddhav Thackeray mended ties with his once-estranged cousin Raj and both Shiv Sena (UBT) and the Maharashtra Navnirman Sena (MNS) led by the latter are expected to join hands to put up a united fight.

Shiv Sena (UBT)'s ally in the Maha Vikas Aghadi (MVA), Congress, has announced it will contest the Mumbai civic polls alone. After initial bickering, especially between BJP and Shiv Sena, the ruling Mahayuti, which also consists of the NCP, decided to contest the civic polls together.

The model code of conduct (MCC) has come into force in all poll-bound municipal corporation areas, State Election Commissioner Dinesh Waghmare announced at a press conference.

He noted the elections are being conducted as per Supreme Court directive to complete polls to all local bodies, whose term has ended, before January 31.

The IAS officer said elections to 12 Zilla Parishads, which don't cross the 50 per cent reservation limit, will be announced soon.

While one corporator will be elected from each seat in Mumbai, three to five corporators will get chosen by voters per ward in 28 other civic bodies.

The break up of 29 corporations is: Total wards: 893, total seats: 2,869, seats for women: 1,442, SCs 341, STs, 77 and OBC seats 759.

Waghmare said filing of nominations will begin on December 23 and the process will go on till December 30. Scrutiny of papers will be done on December 31 and January 2 is the last date of withdrawal of nominations.

Symbol allocation and final list of candidates will be published on January 3.

The notification for BMC elections will be issued on December 16 and those for the remaining 28 municipal corporations on December 18. Respective municipal commissioners will issue the notifications at their level.

Voting in all municipal corporations will be held from 7.30 am to 5.30 pm.

With announcement of the election schedule, the MCC has come into force in municipal corporation areas. Though it applies within corporation limits, no announcement or action that may influence voters of these areas can be taken anywhere else either, according to the SEC.

In view of the MCC, the government cannot take policy decisions related to municipal corporation areas. However, measures related to natural disasters or relief work will not be restricted, clarified Waghmare.

Acting on the SC directive, the SEC conducted elections to 263 municipal councils and nagar panchayats in the first phase on December 2. The remaining 24 councils and nagar panchayats (one of them saw unopposed election of members) will vote on December 20. Counting of all votes polled (on December 2 and 20) will be taken up on December 21.

Poll schedule for Zilla Parishads and Panchayat Samitis whose termed have expired is still to be announced.

Out of the 29 corporations, Ichalkaranji and Jalna civic bodies are newly created bodies. Of the remaining 27, term of five civic bodies ended in 2020 and that 18 corporations, including Mumbai, in 2022. The term of three civic bodies expired in 2023.

Although the SEC has provided an online system for filing nominations and affidavits, papers for municipal corporation elections will be accepted only in traditional offline mode.

Waghmare said 39,147 polling stations, including 10,111 in Mumbai, will be set up for the civic polls. Adequate Electronic Voting Machines (EVMs) have been arranged, including 43,958 control units and 87,916 ballot units.

The voter lists existing as on July 1, 2025, -- which has been updated ward-wise -- will be used for elections. Since the electoral lists are from the Election Commission of India (ECI), the SEC has no right to delete or add names, the senior bureaucrat clarified.

However, special care has been taken to identify possible duplicate voters, he maintained.

Final ward-wise voter lists were published on December 15. Lists of polling station buildings will be published on December 20, and polling station-wise voter lists on December 27.

Suspected duplicate voters have been marked with a special symbol. Such voters have been verified through door-to-door checks and asked to confirm the polling station where they will vote. If required, they will be asked to submit a written declaration at the polling station, affirming they have not voted at any other booth, the commissioner said.

Municipal commissioners have been instructed to carry out large-scale voter awareness campaigns using traditional and digital media to increase voter turnout, especially in large cities like Mumbai.

Besides the BMC, the civic bodies going to polls include corporations of Navi Mumbai, Thane, Pune, Nashik, Nagpur, Chhatrapati Sambhajinagar, Vasai-Virar, Kalyan-Dombivali, Kolhapur, Ulhasnagar, Pimpri-Chinchwad, Solapur, Amravati, Akola, Latur, Parbhani, Chandrapur, Bhiwandi-Nizampur, Malegaon, Panvel, Mira-Bhayander, Nanded-Waghala, Sangli-Miraj- Kupwad, Jalgaon, Dhule, Ahilyanagar, Ichalkaranji and Jalna. PTI MR BNM VT RSY

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