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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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Geely and Xinwei-Backed Cross-Era Leap Talent Development Program Welcomes Inaugural Class of 'AI Natives'

September 22, 2026

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SANYA, China, Sept. 22, 2026 /PRNewswire/ -- As artificial intelligence (AI) reshapes higher education, institutions and industry are exploring new approaches to identifying and developing talent. On Sept. 16, the Cross-Era Leap Talent Development Program ("Leap Program") held an opening ceremony for its inaugural class. Developed by Xinwei Education to prepare emerging leaders for the industries of the future, the flagship program introduces an educational model grounded in real-world industry settings and designed to identify and cultivate exceptional young talent. The ceremony marked the formal launch of a program that encompasses both the early identification of promising students and their long-term growth.

Chairman of Geely Holding Group, Li Shufu (Eric Li); Lu Dan, CEO of Geely Talent Development Group and Chairman and Global CEO of Xinwei-AI; and Pan Leifang (Tony Pan), Senior Vice President and Chief Human Resources Officer of Geely Holding Group, joined industry mentors, education experts and 19 incoming students selected from tens of thousands of applicants. Participants discussed the future of emerging industries and approaches to preparing the next generation of leaders.

Looking Beyond Grades to Identify Potential Earlier AI is reshaping industries as well as the ways in which talent is developed and assessed.

Chairman Li Shufu discussed the relationship between industry competitiveness and talent development. Every sector, he noted, faces continuing competition, with talent ultimately serving as one of the principal determinants of success. Companies may hire experienced professionals or invest in training recent graduates. Using Geely's longstanding metaphor of cultivating a "talent forest," Li said the Leap Program begins at an earlier stage: rather than selecting "saplings," it seeks to identify promising "seeds." At this earlier stage, the program focuses on advanced technologies and emerging industries in the AI era, seeking out recent high school graduates who demonstrate sustained commitment and exceptional potential in particular fields. Students will study and undertake practical work in four areas—electric vehicles, AI, low-altitude aviation and low-Earth-orbit satellites—through an intensive curriculum that combines academic study with substantive industry experience.

In its selection process, the Leap Program looks beyond test scores alone. Xinwei-AI and Xinwei Education partner with companies, universities and research institutions to evaluate candidates in four areas: passion and ambition, critical thinking and vision, grit and resilience, and empathy and teamwork. A structured assessment framework and a rigorous six-stage selection process are intended to ensure that candidates are evaluated fairly and comprehensively.

Dr. Lu Dan said the approach reflects a fundamental reconsideration of how people develop and acquire capabilities. In addition to academic performance, the qualities increasingly required of future leaders include sustained intellectual curiosity, the ability to learn across disciplines, a willingness to engage with complex problems and the capacity to translate an interest into sustained action. He said educational assessment must move beyond selection based principally on scores toward a more comprehensive process of identifying and developing talent. The approach is intended to create an educational environment in which universities and industry share responsibility for students' growth, with AI supporting collaboration between faculty members and students.

The inaugural class brings a range of strengths: some have a particular interest in robotics programming; others have extensive experience in model aircraft competitions, sustained engagement in independent research or demonstrated strengths in collaborative work. They are united by a willingness to pursue their interests over time and explore them independently.

By identifying talent earlier, the Leap Program also seeks to establish a coherent pathway from discovery to development. Its objective is not simply to select promising students, but to give them opportunities to strengthen and apply their abilities in real-world settings.

From Acquiring Knowledge to Developing Potential Unlike traditional programs centered primarily on classroom instruction and coursework, the Leap Program places sustained emphasis on helping each student realize their potential.

Pan Leifang urged students to "work on real problems and engage with them deeply." One of the program's principal advantages, he said, is that students engage directly with industry challenges from the beginning of their studies. Students will work with code used in real-world applications, gain experience on production lines and contribute to active research projects.

Ding Renzhong, chair of the academic committee at Geely University of China and former president of Sichuan Normal University, said the value of higher education in the future will lie not only in helping students acquire knowledge, but also in preparing them to identify, formulate and investigate problems. Industry settings provide opportunities for applied learning while exposing students to complex questions for which there may be no established answers.

The Leap Program does not prescribe a single developmental path. Instead, each student's experience reflects the individual's interests, strengths and potential, with academic preparation, industry exposure and practical challenges integrated throughout the program. Under a three-mentor model, students will receive guidance as they encounter unfamiliar problems, work in new environments and undertake increasingly complex assignments. In doing so, they will build knowledge and capabilities through sustained engagement with real-world questions.

Xinwei Bee Line, an AI-enabled academic training platform developed by Xinwei-AI, will support students in strengthening their capacity for independent thought and sound judgment. Rather than concentrating solely on finding established answers, students will learn to analyze, test and address real problems. Through this process, students will develop a deeper understanding of how technology operates in different industry contexts while drawing on multiple disciplines and perspectives. The aim is to help students progress from acquiring specialized knowledge to applying it to complex challenges.

The program therefore approaches education not simply as the accumulation of knowledge and skills, but as an ongoing process of identifying, cultivating and applying each student's potential.

From Selection to Shaping the Future At an opening ceremony themed "What Kind of Future Will We Build?", students received a letter framed as a message from 2030 and viewed a dynamic map illustrating possible future pathways for the 19 members of the inaugural class. These elements invited students to consider the relationship between their personal development and the industries they may one day help shape. Academic and industry mentors were formally appointed, while an AI mentor named "Xinwei Liangzai" (means cool boy) was introduced as part of the program's collaborative support structure.

Students also spoke with Li Shufu, other senior leaders, experts and mentors about emerging areas of industry, choosing fields of study, interdisciplinary learning and the translation of research into practical applications. Whereas many university opening ceremonies focus primarily on campus life, the students' questions centered largely on industry developments and future careers, reflecting the program's emphasis on applied learning.

Chairman Li Shufu emphasized that changes in how knowledge is acquired in the AI era require universities to reconsider the objectives of higher education. There is no shortcut to personal development or achievement, he said: students must understand the world around them while retaining the ability to think independently. Learning in the AI era, he added, should progress beyond acquiring knowledge for its own sake to learning how to innovate and prepare for the future.

Dr. Lu Dan said the AI era provides students with access to a broader range of resources and greater scope for exploration, while also amplifying capabilities developed through sustained effort. He encouraged "AI natives" to think ambitiously and explore actively, while recognizing that ideas must ultimately be translated into sustained innovation and action.

As the discussion concluded, Chairman Li Shufu offered his best wishes to the inaugural class: "May you make a successful leap and see your aspirations and dreams fulfilled." Rapid advances in technology, continuing industrial transformation and changes in the ways people access knowledge are prompting higher education institutions to reconsider how talent is identified, developed and assessed. They also underscore the need for closer connections among education, workforce development and industry.

The Cross-Era Leap Talent Development Program represents Xinwei Education's response to these questions. Bringing together universities, companies and technology platforms, the program expands the assessment of candidates beyond examination results to include a broader evaluation of their potential for growth. By connecting early talent identification with individual growth, practical skills and industry experience, the initiative is intended to inform new approaches to identifying and educating promising innovators in the AI era.

(Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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