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    GST Council to take a view on GST on UPI MDR: Sources
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    India's Russian oil imports hold near 1.8 million bpd as Middle East fills gaps
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News
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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
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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
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
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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
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.

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September 22, 2026

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New Delhi, Sep 22 (PTI) Following are the top stories at 5 pm

NATION

CAL22 BH-JAMUI-HARASSMENT-LD ARREST (4.03 PM)



Two held after encounter in Jamui boy, girl harassment case; total five nabbed

Patna/Jamui: Two accused in the harassment of a boy and a girl in Bihar's Jamui district were nabbed by police on Tuesday following an encounter in which both were injured, an official said.

BOM17 MH-IIT-LD SUICIDE (3.07 PM)



IIT Bombay student suicide: Crime Branch scans CCTV footage from exam hall, hostel

Mumbai: Four days after IIT Bombay student Sahil Wakode died by suicide after he was allegedly caught using ChatGPT during an examination, the Mumbai Police Crime Branch is analysing CCTV footage from the exam hall and hostel, for a timeline of events leading up to his death.

DEL13 BJP-SONIA (1.47 PM)



'Theft of democracy': BJP on Cong after court order on Sonia Gandhi's voter roll entry

New Delhi: The BJP on Tuesday attacked the Congress and called the opposition party "loktantra ke chor" (thieves of democracy) after a Delhi court set aside a magistrate's order refusing to probe the allegation that Sonia Gandhi's name was included in the electoral roll three years before acquiring Indian citizenship in 1983.

DEL31 CONG-AS-ATTACK (4.32 PM)



'BJP's attempt to avert poll defeat with EC's tacit nod': Cong on attack on leaders' convoy in Assam

New Delhi: The Congress on Tuesday alleged that a planned “murderous attack” took place on the convoy of Assam Congress president Gaurav Gogoi and state in-charge Bhupesh Baghel during campaigning for the Nagaon Lok Sabha bypoll, terming it a “shameful attempt” by the BJP to avert a likely defeat, with the “tacit approval” of the Election Commission.

DEL22 IAF- TARANG SHAKTI (3.24 PM)



US stealth fighter F-35 among global air assets to headline Exercise Tarang Shakti in Jodhpur

New Delhi: Seven foreign nations – the US, France, Germany, Australia, Bangladesh, Sri Lanka and the UAE – will participate in the second edition of Exercise Tarang Shakti to be held at the Jodhpur Air Force Station from Spetember 26 to October 12, the Indian Air Force said on Tuesday.

DEL20 ED-PB-SEARCHES (3.09 PM)



ED raids Greater Mohali development authority, IAS officer in PMLA probe

Chandigarh: The Enforcement Directorate on Tuesday raided the office of Punjab's Greater Mohali Area Development Authority and that of IAS officer and Principal Secretary, Housing and Urban Development, Vikas Garg as part of a money laundering investigation, officials said.

CAL25 MN-MILITANTS-LD ARREST (4.45 PM)



Six militants arrested in Manipur

Imphal: Six militants belonging to various banned outfits have been arrested by security forces in Manipur's Imphal East and Tengnoupal districts, a police statement said on Tuesday.

BOM18 MH-CONG-SIR (3.50 PM)



2.06 crore voter roll exclusions in Maharashtra 'alarming', says Congress; seeks probe

Mumbai: The Maharashtra Congress on Tuesday said the exclusion of more than 2.06 crore voters from the state electoral rolls during the ongoing Special Intensive Revision (SIR) was "unprecedented and alarming", and sought an inquiry and verification of the deletions.

BOM26 MH-IIT-SUICIDE-LD FANS (5.01 PM)



IIT Bombay replacing hostel ceiling fans with wall-mounted units

Mumbai: The IIT Bombay has initiated replacement of ceiling fans in hostel rooms with wall-mounted fans, sources said, adding the move predates the death by suicide of B Tech student Sahil Wakode last week.

LEGAL

LGD15 SC-NATIONAL SONG-EXCHANGE (3.46 PM)



Senior lawyer Muralidhar objects to 'Naxalite' remark by SG during Vande Mataram hearing in SC, demands withdrawal

New Delhi: Senior advocate S Muralidhar on Tuesday strongly objected to Solicitor General Tushar Mehta's reference to "Naxalites" in the Supreme Court during a hearing related to the national song Vande Mataram and demanded immediate withdrawal of the expression.

LGD17 SC-DELHI SIR (4.43 PM)



Delhi SIR: SC says notices going to people mechanically, asks EC to adopt additional safeguards

New Delhi: The Supreme Court on Tuesday told the Election Commission that notices under Special Intensive Revision (SIR) exercise in Delhi are going to people "almost mechanically" and it should look for some additional safeguards.

LGD7 SC-CAUVERY-PLEA (12.06 PM)



SC refuses to entertain plea concerning allocation of Cauvery river water

New Delhi: The Supreme Court on Tuesday refused to entertain a fresh plea concerning allocation of Cauvery river water, saying it was a dispute between the states of Tamil Nadu and Karnataka and they are already contesting the matter.

BUSINESS

DEL26 BIZ-WEF-INDIA (3.57 PM)



India stands out with strongest growth outlook globally: WEF survey

New Delhi: India stands out with the strongest growth outlook globally, but has slipped to fourth place in terms of favourable business environment for multinational companies, a new survey showed on Tuesday.

DEL15 BIZ-FM-INDUSTRY (2.39 PM)



Focus on scale, resilience, better governance: Sitharaman to India Inc

New Delhi: Finance Minister Nirmala Sitharaman on Tuesday asked Indian industry to focus not just on scale but also on building stronger, more resilient, and better-governed enterprises as the country works towards the goal of Viksit Bharat by 2047.

DEL28 BIZ-AVI-NAIDU-HUB SPOKE (4.06 PM)



Security ecosystem for hub-and-spoke model flights strengthened to prevent lapses: Naidu

New Delhi: The security ecosystems for the hub-and-spoke model flights have been thoroughly revised and strengthened to prevent any lapses in the future, Civil Aviation Minister K Rammohan Naidu said on Tuesday.

FOREIGN

FGN14 UN-JAISHANKAR-MULTILATERALISM (9.30 AM)



India co-sponsors inaugural partners for multilateralism summit at UN

United Nations: India has co-sponsored an inaugural multilateralism summit at the UN “at a time when the global order is under stress”, as New Delhi asserted that more participative deliberations and transparent decision-making are overdue. By Yoshita Singh

FGN20 US-JAISHANKAR-LD BILATERALS (10.43 AM)



EAM Jaishankar discusses regional, global issues with foreign counterparts on margins of UNGA session

New York: External Affairs Minister S Jaishankar discussed regional and global issues with his foreign counterparts as he held a series of bilateral meetings on the margins of the high-level UN General Assembly session. By Yoshita Singh

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