Oracle NetSuite identifies India as one of its highest-priority markets, noting that small businesses, particularly outside major metros, are increasingly leveraging artificial intelligence (AI) and cloud technologies to expand domestically and internationally. This adoption is driven by India's young, tech-native population, which is less burdened by legacy systems, allowing smaller firms to compete more effectively with larger enterprises.
State Bank of India (SBI) is developing an innovative solution to assess the creditworthiness of small businesses lacking GST registration by utilising UPI transaction data. This initiative aims to provide end-to-end digital loans within a day, addressing the financial exclusion of many small enterprises.
Infosys co-founder Nandan Nilekani predicts that large corporations in India will lose jobs due to automation and AI, while millions of small businesses will drive future employment growth. He advocates for deregulation, simplified business interfaces, and digital platforms to support small entrepreneurs and a gig economy workforce.
A study by Amazon Ads reveals that nearly 87% of Indian small and medium businesses (SMBs) believe AI has opened up new advertising opportunities, including streaming TV. The research indicates that 75% of surveyed SMBs attribute business growth to AI-enabled advertising, with 68% noting increased creativity. AI is also facilitating international trade for 59% of businesses, though human oversight remains crucial in decision-making.
'Why are the political leaders saying everything is normal?'
HDFC Bank reported an 8.04 per cent increase in its March quarter consolidated net profit to Rs 20,350.76 crore, but highlighted potential near-term risks for small-business borrowers due to the West Asia conflict. The bank's CEO also addressed the recent resignation of its non-executive chairman and hinted at a potential top-level reorganisation.
India's GST Council has approved changes allowing small online sellers to register in states without physical premises by using an e-commerce operator's warehouse as their principal place of business, aiming to boost national sales for small businesses.
A simplified GST registration facility for small e-commerce sellers, allowing them to register in other states by declaring the e-commerce platform's warehouse as their principal place of business, will be enabled from November 1. This move aims to encourage small businesses to expand beyond their home states.
Meta announced a first-of-its-kind initiative called 'WhatsApp Bharat Yatra', where the company will go to Tier-II and Tier-III cities to provide on-ground, in-person training to small businesses.
A trade body in Jharkhand, FJCCI, has urged the Union Finance Minister to withdraw the proposed 0.4% Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000 for merchants. The body argues that this charge will significantly increase operating costs for businesses, especially MSMEs and retailers, who rely on the current zero-MDR regime for digital payments.
Infosys co-founder Nandan Nilekani has dismissed fears that artificial intelligence will lead to job losses in India's IT services sector, calling such concerns "hogwash" and "disaster marketing." Speaking at the Bloomberg New Economy Forum 2026, Nilekani argued that AI will actually increase demand for IT firms as it necessitates complex business transformations and creates new types of jobs, particularly in small businesses.
The Kerala Legislative Assembly has passed a motion urging the central government to completely withdraw the proposed Merchant Discount Rate (MDR) on UPI transactions exceeding Rs 2,000. Chief Minister V D Satheesan and CPI MLA K Rajan highlighted concerns that the MDR would increase business costs, harm small businesses, and reduce the appeal of digital payments, while the BJP argued it would not affect general public or small merchants.
Digital authentication services company eMudhra has announced its decision to exit the global SSL/TLS certificate business after a vulnerability was discovered in the security keys issued by its certification authorities, leading to a 20 per cent drop in its shares.
Nandan Nilekani, co-founder of Infosys, has urged for the expanded adoption of the Account Aggregator (AA) framework to facilitate formal credit access for self-employed individuals and gig workers. He highlighted its potential to enable cash-flow-based lending by leveraging diverse data streams, moving beyond traditional asset-based lending, and fostering a more inclusive digital financial infrastructure in India.
The Retailers Association of India (RAI) has voiced concerns that the government's new 0.4 per cent Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000 could reverse the progress of digital payment adoption among small retailers. This fee, effective October 15, places the burden on merchants operating on thin margins, potentially pushing them back to cash transactions and undermining the government's formalisation agenda, especially ahead of the festive season.
Industry body Assocham has welcomed the new UPI framework for large-value merchant transactions, effective October 15. This framework introduces a 0.4 per cent Merchant Discount Rate (MDR) on person-to-merchant UPI payments exceeding Rs 2,000, with a cap of Rs 300 for transactions over Rs 75,000. The move aims to enhance UPI sustainability, support innovation, and mitigate fraud, while protecting small merchants and ensuring most everyday transactions remain free.
A World Bank report, 'The Promise of Artificial Intelligence', states that AI presents a historic opportunity for low- and middle-income countries to overcome development challenges, despite many being unprepared. It advises these nations to adopt and adapt existing AI tools rather than focusing on building frontier models immediately. The report also notes a significant gap in AI adoption and job automation between high-income and developing countries.
Multiple borrowings and weak cash flows are causing repayment delays among gold loan borrowers.
The Payments Council of India has confirmed that Unified Payments Interface (UPI) services will continue to be free for consumers and small merchants, despite a recent Lok Sabha Bill. This clarification addresses concerns about potential charges, emphasising that while a sustainable financial model for UPI infrastructure is being developed, transaction charges will not be passed on to users or small businesses.
Economic think tank GTRI has urged the Indian government to withdraw the proposed UPI charges, set to begin on October 15, arguing that the digital payment system should remain free for merchants and consumers. GTRI warns that these charges could lead to higher prices, reduced earnings for small businesses, and weakened household demand, while also benefiting international card networks by eroding UPI's price advantage. The think tank also called for an independent audit of UPI's running costs.
Preeti Lobana, Google India VP, stated on Wednesday that Google views AI as an "economic equaliser" and a democratic technology. Speaking at Google Cloud Day, she highlighted AI's potential to empower businesses, especially SMEs, in India's journey towards Viksit Bharat 2047. Google has committed USD 15 billion to scale India's digital and AI infrastructure, including an AI hub in Visakhapatnam, to support the IndiaAI Mission.
The GST Council, chaired by Finance Minister Nirmala Sitharaman, has begun deliberations on significant reforms, including decriminalising nine offences, softening provisions for 24, and raising the threshold for criminal prosecution to Rs 5 crore. The proposed changes also include scrapping the arrest powers of GST officers and introducing an 'invoice matching system' to combat fake input tax credit claims, aiming for a trust-based taxation approach and enhanced ease of doing business.
National Stock Exchange (NSE) Chairman Srinivas Injeti stated that post-listing, the exchange's duties as a stock trading marketplace and its responsibilities as a commercial entity will see public interest overriding business interests if the two intersect.
Congress leader Sachin Pilot is set to embark on a five-day visit to Punjab starting October 16, where he will meet families of gang violence victims across 11 districts. This visit aims to amplify their voices and is seen as a strategic move by the Congress to make law and order a central issue against the AAP government in the upcoming elections. Punjab Congress chief Pargat Singh also criticised the AAP government over deteriorating security and extortion threats faced by traders.
The All India Mobile Retailers Association (AIMRA) has announced a nationwide 'No UPI Day' protest on October 2 against the proposed 0.4 per cent Merchant Discount Rate (MDR) on UPI transactions exceeding Rs 2,000. Retailers argue that this charge will burden small businesses and impact their already thin profit margins, urging policymakers to withdraw the proposal.
Former Rajasthan chief minister Ashok Gehlot has criticised the Centre for introducing a 0.4% charge on UPI transactions above Rs 2,000, alleging the decision was influenced by pressure from the United States and its payment companies like Visa and Mastercard. He highlighted a perceived shift in the government's stance on Merchant Discount Rate (MDR) for UPI, claiming it would ultimately burden consumers and small businesses while benefiting American firms.
Infosys Chairman Nandan Nilekani stressed the need for India to develop population-scale tokenisation infrastructure capable of handling billions of transactions, rather than merely focusing on issuing tokens. He highlighted the importance of interoperability, liquidity, and high volumes for tokenisation to expand across various asset classes and use cases.
Reliance Industries chairman Mukesh Ambani has become the world's biggest billionaire wealth gainer, adding over USD 6 billion to his fortune in a single day, as shares of his flagship company surged following stronger-than-expected quarterly earnings.
AI agent platform Runable has successfully raised $21 million in Series A funding, co-led by Susquehanna Venture Capital and Nexus Venture Partners. The company plans to use these funds to expand its growth capabilities, enhance measurement tools, and scale its Runable Academy, which supports small business owners in building and growing their ventures.
PhonePe has announced a significant expansion plan to deepen digital payment infrastructure across India's towns and villages. This initiative includes hiring over 20,000 sales personnel and deploying more than 50 lakh payment devices, with a strong focus on rural areas, aiming to bring small merchants into the formal financial ecosystem.
The Chamber of Trade and Industry (CTI) has requested a meeting with Congress leader Rahul Gandhi to discuss postponing the INDIA bloc's November 1 rally at Ramlila Maidan. Traders fear significant business disruption during the festive Diwali season due to the expected large crowd. CTI proposes a dialogue, offering to withdraw protests if convinced of benefits or seeking postponement if losses are proven.
Congress leader Rahul Gandhi alleged on Sunday that the BJP had forcibly shut shops in Connaught Place, causing losses to traders. He stated that the INDIA bloc had encouraged rally attendees to shop locally, but the BJP's actions prevented this. Gandhi had previously urged supporters to shop for Diwali, countering BJP's "rumours" about the rally affecting businesses. The INDIA bloc's mega rally at Ramlila Maidan on Sunday aims to protest alleged electoral irregularities.
Congress leader Rahul Gandhi encouraged attendees of the INDIA bloc's rally in Delhi to shop locally for Diwali, countering BJP's "rumours" about business disruption. The rally, scheduled for Sunday at Ramlila Maidan, aims to protest alleged electoral irregularities and demand the Chief Election Commissioner's resignation, drawing support from various groups across the country.
Indian digital certification authority eMudhra has reported a compromise of private keys for some of its global TLS and code-signing certificates, according to Cert-In. This incident, while eMudhra states it has limited impact on its Indian operations, could allow cybercriminals to impersonate websites. Separately, SBI has disclosed a suspected exposure of nearly 4,000 customer records on the dark web.
The Union finance ministry has constituted a high-level committee, chaired by former Central Vigilance Commissioner Suresh N Patel, to recommend structural, regulatory, and legislative reforms for India's banking sector, aiming to make banks globally competitive and support the financing needs of a developed economy.
'I have seen in Agra parents selling their buffalo, which is their sole source of livelihood, to buy expensive medicines to treat their child.' 'I was very moved by such cases and therefore approached the court to regulate the price of medicines in our country.'
Investors should study the technology behind digital assets, including blockchain networks, wallets and transaction verification, rather than rely solely on recommendations. Understanding the technology could help them assess the risks.
Cyclone Arnab made landfall on the Andhra coast early on Wednesday, causing widespread destruction, including uprooted trees, damaged infrastructure, and inundated low-lying areas. Five people were killed in related incidents, primarily due to electrocution and wall collapse. Chief Minister N Chandrababu Naidu has sought central assistance and outlined relief measures for affected residents and farmers.
The NCP (SP) has demanded a complete rollback of the 0.4 per cent Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000, effective October 15. The party termed the move a "direct assault" on small traders and shopkeepers, accusing the Modi government of "double standards" by burdening small merchants while large industrialists benefit from loan write-offs.
From a nostalgic TV detective to scene-stealing turns in Laapataa Ladies and Mirzapur: The Movie, we look at 10 performances that showcase Ravi Kishan's remarkable range.
