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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
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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
Show AI Summary
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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Homeland Security shutdown grows more likely as Republicans rebuff Democrats' ICE demands

February 6, 2026

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Washington, Feb 6 (AP) Senate Majority Leader John Thune said on Thursday that demands made by Democrats for new restrictions on federal immigration officers are "unrealistic" and warned that the Department of Homeland Security will shut down next week if they do not work with Republicans and the White House.

Democrats say they will not vote for a DHS spending bill when funding runs out unless there are "dramatic changes" at US Immigration and Customs Enforcement and other federal law enforcement agencies in the wake of the fatal shootings of two protesters in Minneapolis last month.

The Democratic leaders, Sen Chuck Schumer and Rep Hakeem Jeffries, released an expanded list of 10 detailed proposals on Wednesday night for restraining President Donald Trump's aggressive campaign of immigration enforcement. Among the demands are a requirement for judicial warrants, better identification of DHS officers, new use of force standards and a stop to racial profiling.

Congress is trying to renegotiate the DHS spending bill after Trump last week agreed to a Democratic request that it be separated from a larger spending measure and extended at current levels for two weeks while the two parties negotiate. The deal came after ICU nurse Alex Pretti was shot and killed by a US Border Patrol officer in Minneapolis on January 24, and some Republicans agreed that new restrictions were necessary.

But with nearly a week gone, a shutdown is becoming increasingly likely starting February 14 as Republicans have been cool to most of the Democrats' requests.

"This is not a blank check situation where Republicans just do agree to a list of Democrat demands," said Thune, R-SD. "The only way to get reforms to ICE is to agree to a bill." As of now, Thune said, "We aren't anywhere close to having any sort of an agreement." In addition to ICE and US Customs and Border Protection, the homeland security bill includes funding for the Federal Emergency Management Agency and the Transportation Security Administration. If DHS shuts down, Thune said, "there's a very good chance we could see more travel problems" similar to the 43-day government closure last year.

Democratic demands ---------------------- Schumer, D-NY, said he is "astounded to hear" Republicans say his party's proposals were political or unworkable.

"It's about people's basic rights, it's about people's safety," Schumer said. If Republicans do not like the ideas, he said, "they need to explain why." Schumer and Jeffries, D-NY, have made several demands, including no masks for officers, judicial warrants and better federal coordination with local authorities. The list they released Wednesday added several new items, including a stricter use of force policy, legal safeguards at detention centres and a prohibition on tracking protesters with body-worn cameras.

Democrats say Congress should end indiscriminate arrests, β€œimprove warrant procedures and standards,” ensure the law is clear that officers cannot enter private property without a judicial warrant and require that before a person can be detained, it's verified that the person is not a U.S. citizen.

They also want an end to racial profiling, saying DHS officers should be prohibited from stopping, questioning or searching people "based on an individual's presence at certain locations, their job, their spoken language and accent or their race and ethnicity.” For officers conducting immigration enforcement, Democrats say that in addition to officers taking off their masks and showing identification, DHS should regulate and standardize uniforms and equipment to bring them in line with other law enforcement agencies.

Republican pushback ----------------------- Schumer called it a "gut check moment for Congress" as the immigration enforcement operations have rocked Minneapolis and other US cities. But Republicans were dismissive.

Wyoming's John Barrasso, the No 2 Republican senator, said the demands are "radical and extreme" and a "far-left wish list." Sen Katie Britt, who is helping lead negotiations, said the list is "a ridiculous Christmas list of demands" and warned that time is running out before the deadline.

"I encourage them to talk to the White House," she said. "We only have one week left." Down to the last funding bill ------------------------------- Thune has also encouraged Democrats and the White House to talk. It is unclear whether they are or whether Democrats would be willing to back down on any of their demands.

Some Republicans have demands of their own, including adding legislation that would require proof of citizenship before Americans register to vote and restrictions on cities that they say do not do enough to crack down on illegal immigration.

Sen Chris Murphy, D-Conn, said it is up to Republicans to ensure the government does shut down because they are in charge.

"The American people want this abuse to stop," Murphy said.

Some look to limit shutdown pain ------------------------------------- Other lawmakers are searching for options to prevent another partial shutdown.

One idea being floated is to essentially fund some of the other agencies within DHS -- the Coast Guard, airport operations under TSA and disaster assistance from FEMA.

"Why not take that off the table?" said Republican Sen Thom Tillis of North Carolina, whose state is in need of FEMA funds from recent disasters.

"If it doesn't look like they can get it done," he said about the immigration enforcement overhaul, "I really think they should look at a la carte funding of agencies." Some Democrats have said they agree, but Thune said on Thursday that splitting apart the DHS appropriations bill to single out ICE would "defund law enforcement." Splitting the bill would mean essentially cutting ICE loose by allowing it to go without its routine federal funding because the agency already has such a robust budget from Trump's tax and spending cut bill from last year.

ICE is expected to receive about USD 10 billion in the annual appropriations bill, a fraction of the USD 175 billion-plus for homeland security for the administration's mass deportation agenda. (AP) RUK RUK

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