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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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Customs & Trade

BharatBenz Inaugurates India’s Highest-Altitude Workshop at Leh-Ladakh in Collaboration with PPS Trucking

September 23, 2026

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The new 3S (Sales, Service & Spares) touchpoint enhances service and repair accessibility for customers across Kargil, Drass, and the Leh-China border regions

PPS-BharatBenz inaugurated its 3S (Sales, Service & Spares) facility at India's highest altitude at Leh, Ladakh

September 23, 2026, Ladakh, India: Daimler India Commercial Vehicles (DICV), the maker of BharatBenz trucks and buses today inaugurated its new service centre operated by ‘PPS Trucking’ in the Leh district of Ladakh. With this launch, PPS - BharatBenz becomes India’s first and only player to offer a commercial vehicle repair facility at one of the highest operational altitudes, located at approximately 11,550 feet above sea level.

Established in Phey Village along NH-1 in Leh, Ladakh, the new 20,000 sq. ft. BharatBenz workshop situated on the Leh - Srinagar - Uri Highway, will cater to vehicles deployed in stone-crusher operations, macadam road construction in border regions by the Border Roads Organisation (BRO), and the transportation of communication tower infrastructure. Its strategic location enables the facility to serve a wide catchment area, including remote regions such as Kargil, Drass, and the Leh-China border.

Until now, customers operating in the region often had to travel significant distances to access authorised service support and genuine spare parts, resulting in extended downtime and higher operating costs. The new facility significantly reduces service turnaround times, improves access to trained technicians, and ensures faster availability of critical spare parts, helping customers maximise vehicle uptime and business productivity.

The workshop is equipped with advanced diagnostic systems, modern tools, and genuine BharatBenz spare parts, ensuring efficient, reliable, and high-quality service support. It also offers 24x7 roadside assistance for prompt response to on-road breakdowns. With three fully equipped service bays, the facility has the capacity to service more than 1,400 vehicles annually.

Commenting on the expansion in Northern India, Rajiv Chaturvedi, President & Chief Business Officer, Daimler India Commercial Vehicles, said “At BharatBenz, customer success is built on vehicle uptime, reliability, and service accessibility. Customers operating in Ladakh and adjoining border regions face unique challenges, including harsh weather conditions, difficult terrain, and remote operating environments. With the inauguration of this new service and spare parts facility, we are bringing world-class aftersales support closer to our customers, ensuring faster repairs, easy access to genuine parts, and expert technical assistance. This investment reinforces our commitment to maximising customer productivity, reducing downtime, and delivering a superior ownership experience in one of India's most challenging yet strategically important markets."

On the inauguration of the new PPS Trucking-BharatBenz service touchpoint, Rajiv Sanghvi, Managing Director, PPS Trucking said, “We are proud to inaugurate India’s highest-altitude commercial vehicle service facility at Leh, supporting customers in a region known for extreme weather and challenging terrain. By continuously strengthening our infrastructure and expanding our network, we are bringing timely and reliable service closer to customers wherever they operate. Through this endeavour, we aim to deliver a best-in-class ownership experience, maximise vehicle uptime, and enable greater productivity and profitability for our customers.”

BharatBenz tippers, built with high-strength steel for exceptional durability, are engineered to withstand the demanding conditions of stone-crushing and other high-intensity operations. These vehicles are extensively deployed across Leh’s stone-crushing industry, which plays a crucial role in local infrastructure development, including road and building construction. The region is endowed with abundant mineral resources such as borax, high-quality marble, cement-grade limestone, and granite which offers significant business potential for the newly inaugurated BharatBenz workshop. The local market also offers a market for RMC due to ongoing construction work in the region. With this facility, BharatBenz and PPS Trucking aim to further strengthen vehicle uptime, enhance service accessibility, and ensure the availability of genuine spare parts for the large fleet of trucks operating along this heavy-duty corridor.

Operating at over 11,000 feet, vehicles in Ladakh face extreme weather, steep gradients, and challenging terrain. With growing infrastructure, border connectivity, and construction activity in the region, the new workshop will help improve vehicle uptime, service accessibility, and the availability of genuine BharatBenz spare parts for customers operating across this critical corridor.

A critical pillar of the collaboration between DICV and PPS Trucking is the strengthened after-sales service ecosystem. The new workshop has been designed with driver comfort at its core, featuring dedicated rest areas and customer-friendly amenities. A team of over 20 trained and skilled technicians will operate the facility, underscoring PPS Trucking’s commitment to delivering high-quality service and maximizing uptime for BharatBenz vehicles. With a robust spare parts inventory available across the region, the workshop is equipped to ensure faster turnaround times and significantly reduced downtime for customers.

Media Contact:

Shina Satyapal, [email protected]

Bhargav T S, [email protected]

Vishal Thapa, [email protected]

For further information:

https://asia.daimlertruck.com/ and https://www.bharatbenz.com/

Daimler Truck at a Glance

Daimler Truck is one of the world’s leading commercial vehicle manufacturers, operating 35 main locations and employing around 100,000 people worldwide. With 130 years of heritage — dating back to the invention of the first trucks and buses — Daimler Truck is committed to a clear purpose: For all who keep the world moving. Together with its global partners, the company is shaping the future of transportation with the ambition to be the industry’s leading truck and bus manufacturer. Daimler Truck focuses on delivering sustainable, regulation compliant transport solutions that enable our customers to succeed in their respective markets. The company operates through four key segments*: Trucks North America (Freightliner, Western Star, Thomas Built Buses), Mercedes-Benz Trucks (including BharatBenz), Daimler Buses (Mercedes Benz and Setra) and Daimler Truck Financial Services. Daimler Truck’s portfolio includes light-, medium-, and heavy- duty trucks for long haul, distribution, construction, vocational and defense applications. In the bus segment, the company offers city buses, school buses, coaches and bus chassis. In addition to vehicle sales, Daimler Truck also offers financing products, after-sales services, digital and connectivity solutions.

Daimler India Commercial Vehicles at a Glance

Daimler India Commercial Vehicles Pvt. Ltd. (DICV), a wholly owned subsidiary of Daimler Truck AG, is the maker of BharatBenz trucks and buses in India. Established in 2009, DICV serves the Indian commercial vehicle market while also contributing as a manufacturing, engineering and export hub for Daimler Truck's global operations. BharatBenz was commercially launched in 2012, offering trucks across the 10-55 tonne range and buses for school, staff and intercity applications. Since launch, more than 230,000 BharatBenz trucks and buses have been delivered to customers across India. DICV operates a 400-acre integrated manufacturing and R&D facility at Oragadam near Chennai and is supported by more than 4,000 employees, over 400 suppliers and more than 430 dealer and service touchpoints nationwide. DICV also contributes to Daimler Truck's global footprint through exports of vehicles and parts to more than 70 markets worldwide, including exports of more than 75,000 trucks and buses and over 330 million parts.

As the anchor entity for the ISEAA (India, South-East Asia and Australia-Pacific) customer region within the Mercedes-Benz Trucks Segment, DICV supports closer regional collaboration while continuing to advance BharatBenz's focus on safety, productivity, customer uptime and future-ready mobility solutions for India's commercial transportation ecosystem.

PPS Trucking at a glance:

PPS Trucking is part of a larger automobile group - one of the country's largest spread automobile conglomerates - with a rich experience of 75+ years, operates through 720+ automobile touch-points across 18 states supported by a dedicated team of over 18,000 expert professionals. PPS Trucking provides exceptional service and upholds high standards of professionalism. The conglomerate represents a diverse spectrum of auto segments, including 21 brands in passenger vehicles, light and heavy commercial vehicles, and construction equipment.

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

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