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September 24, 2026
Show AI Summary
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
Show AI Summary
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
Show AI Summary
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.

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What to know about fatal shooting of woman by ICE officer in Minneapolis

January 10, 2026

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Minneapolis (US), Jan 10 (AP) Protesters confronted federal officers in Minneapolis on Thursday, a day after a woman was fatally shot by an Immigration and Customs Enforcement officer.

The demonstrations came amid heightened tensions after President Donald Trump’s administration dispatched 2,000 officers and agents to Minnesota for its latest immigration crackdown.

Across the country, another city was reeling after federal immigration officers shot and wounded two people in a vehicle outside a hospital in Portland, Oregon.

The killing of 37-year-old Renee Good in Minneapolis on Wednesday set off a clash between federal and state officials over whether the shooting appeared justified and whether a Minnesota law enforcement agency had jurisdiction to investigate.

Here’s what is known about the shooting: How it unfolded --------------------- The woman was shot in her SUV in a residential neighbourhood south of downtown Minneapolis, about a mile (1.6 kilometres) from where police killed George Floyd in 2020. Videos taken by bystanders and posted online show an officer approaching a vehicle stopped in the middle of the road, demanding the driver open the door and grabbing the handle.

The Honda Pilot begins to pull forward, and a different ICE officer standing in front of the vehicle draws his gun and immediately fires at least two shots at close range, jumping back as the vehicle moves toward him.

It is not clear from the videos if the officer gets struck by the SUV, which speeds into two cars parked on a curb before stopping.

It’s also not clear what happened in the lead-up to the shooting.

Homeland Security Secretary Kristi Noem said the SUV was part of a group of protesters that had been harassing agents and “impeding operations” that morning. She said agents had freed one of their vehicles that was stuck in the snow and were leaving the area when the confrontation and shooting occurred.

No video has emerged to corroborate Noem’s account. A bystander video from the shooting scene shows a sobbing woman who says the person shot was her wife. That woman hasn’t spoken publicly to give her version of events.

The victim was a ‘wife and mom’ --------------------------------------- Good died of gunshot wounds to the head.

A US citizen born in Colorado, Good described herself on social media as a “poet and writer and wife and mom.” Her ex-husband said Good had just dropped off her 6-year-old son at school on Wednesday and was driving home when she encountered ICE agents on a residential street.

He said Good and her current partner moved to Minneapolis last year from Kansas City, Missouri.

Good’s killing is at least the fifth death to result from the aggressive US immigration crackdown the Trump administration launched last year.

Noem says the officer followed training ----------------------------------------------- Noem said Thursday that there would be a federal investigation into the shooting, though she again called the woman’s actions “domestic terrorism.” “This vehicle was used to hit this officer,” Noem said. “It was used as a weapon, and the officer feels as though his life was in jeopardy.” Vice President JD Vance said the shooting was justified and referred to Good’s death as “a tragedy of her own making.” Minneapolis Police Chief Brian O’Hara gave no indication that the driver was trying to harm anyone when he described the shooting to reporters on Wednesday. Minneapolis Mayor Jacob Frey said he had watched videos of the shooting that show it was avoidable.

The officer has been an ICE deportation agent since 2015 ------------------------------------------------------------------- The agent who shot Good is an Iraq War veteran who has served for nearly two decades in the Border Patrol and US Immigration and Customs Enforcement, according to records obtained by The Associated Press.

Jonathan Ross has been a deportation officer with ICE since 2015, records show. He was seriously injured this summer when he was dragged by the vehicle of a fleeing suspect whom he shot with a stun gun.

Federal officials have not named the officer. But Noem said he was dragged by a vehicle in June, and a department spokesperson confirmed Noem was referring to the Bloomington, Minnesota, case in which documents identified the injured officer as Ross.

Court documents say Ross got his arm stuck in the window as a driver fled arrest in that incident. Ross was dragged 100 yards (91 metres), and cuts to his arm required 50 stitches.

A man and a woman were wounded in Portland ------------------------------------------------------- According to police, officers initially responded to a report of a shooting outside a hospital on Thursday afternoon.

Minutes later, police heard that a man who had been shot was asking for help in a residential area a couple of miles away. Officers went there and found a man and a woman with gunshot wounds. Officers determined they were wounded in a shooting with federal agents.

Police Chief Bob Day said the FBI was leading the investigation, and he had no details about events that led to the shooting.

The Department of Homeland Security said the vehicle’s passenger was “a Venezuelan illegal alien affiliated with the transnational Tren de Aragua prostitution ring” who was involved in a recent shooting. When agents identified themselves to the occupants during a “targeted vehicle stop,” the driver tried to run them over, the department said. An agent fired in self-defence, it said.

There was no immediate independent corroboration of that account or of any gang affiliation of the vehicle’s occupants.

Trump and his allies have consistently blamed Tren de Aragua for being at the root of violence and illicit drug dealing in some US cities.

Federal and Minnesota leaders dispute jurisdiction to investigate -------------------------------------------------------------------------- Drew Evans, head of the Minnesota Bureau of Criminal Apprehension, said Thursday that federal authorities have denied the state agency access to evidence in the Good case, barring the state from investigating the shooting alongside the FBI.

Minnesota Gov. Tim Walz demanded that state investigators be given a role, telling reporters that residents would otherwise have difficulty accepting the findings of federal law enforcement.

“And I say that only because people in positions of power have already passed judgment from the president to the vice president to Kristi Noem,” Walz said.

Noem denied that Minnesota authorities were being shut out, saying: “They don’t have any jurisdiction in this investigation.” Protesters met with pepper spray and tear gas ------------------------------------------------------ Dozens of protesters gathered Thursday morning outside a Minneapolis federal building being used as a base for the immigration crackdown. Border Patrol officers fired tear gas and doused demonstrators with pepper spray to push them back from the gate.

Area schools were closed as a safety precaution.

Protests were also planned across the US in cities including New York, New Orleans and Seattle. (AP) SKS SKS

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