The Finance Ministry has clarified that the 0.4 per cent Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000, effective October 15, is not expected to increase cash transactions or cause inflation. The ministry also dismissed allegations of US pressure influencing the decision, asserting that the policy aims to promote RuPay credit cards within the UPI ecosystem, and a monitoring mechanism will ensure the MDR burden is not passed on to consumers.
Indian benchmark indices, Sensex and Nifty, closed nearly flat on Thursday, influenced by the US Federal Reserve's interest rate hike and indications of further monetary tightening. Despite some intraday gains, caution prevailed, with foreign institutional investors continuing to offload equities. Meanwhile, the National Stock Exchange of India's (NSE) mega initial public offering opened for subscription, garnering 39 per cent subscription on its first day.
The Indian men's and women's chess teams delivered strong performances in the seventh round of the 46th Chess Olympiad in Samarkand. The men's team defeated England, with R Praggnanandhaa and D Gukesh securing crucial wins. The women's team dominated Germany with a 3.5-0.5 victory, highlighted by wins from Koneru Humpy, Divya Deshmukh, and Savitha Shri.
The Indian men's and women's chess teams delivered strong performances at the Chess Olympiad in Samarkand, with the men's team defeating Spain 3-1 and the women's team securing an identical 3-1 victory over Mongolia. World champion D Gukesh led the men's success with a clean win against Alexei Shirov, while Arjun Erigaisi also contributed significantly. In the women's section, B Savitha Shri and Divya Deshmukh were instrumental in their team's win.
The Indian men's badminton team blanked Bangladesh 3-0 to enter the quarter-finals of the 2026 Asian Games in Nagoya on Monday.
The Reserve Bank of India (RBI) net purchased a record $18.65 billion in July, driven by inflows from its concessional swap facility, leading to a significant increase in India's foreign exchange reserves.
India's Quimcy Dsouza experienced a double setback at the Asian Games in Nagoya, narrowly missing out on bronze medals in both women's singles and mixed doubles Teqball. Despite a valiant effort against Japan's Yuina Sakamoto in singles, losing 0-2, and a subsequent loss in mixed doubles with Mohamed Anas Beg, her performance highlighted India's growing presence in the sport.
A University of Delhi study has found significant heavy metal contamination in agricultural soil and vegetables grown along the Yamuna river in the capital. The research highlights potential non-carcinogenic and carcinogenic health risks to consumers due to crops irrigated with polluted wastewater, with specific vegetables showing dangerously high levels of metals like nickel, chromium, and molybdenum.
Bank of Baroda has launched 'bob World 2.0', an AI-powered mobile banking app featuring voice-command capabilities for payments and navigation. The updated app also includes a personal finance management module and a persona-based customer experience, aiming to offer intuitive, secure, and personalised banking services.
Indian fencers Hemash Sanasam and Sachin have successfully advanced to the round of 32 in the men's foil individual event at the Asian Games, despite a mixed performance in their respective pools. They will now face Kazakh opponents in the next stage.
Nothing has expanded its premium audio line-up with the launch of the Headphone (1) Pro, the brand's newest flagship over-ear model.
India experienced a day of mixed fortunes at the Asian Games, highlighted by Mirabai Chanu's historic silver medal in weightlifting, ending a long wait for an Asiad medal. The nation also secured several bronze medals in skeet shooting, men's badminton, and soft tennis. While Chanu shone, the shooting contingent faced challenges, and other sports like wushu, table tennis, squash, women's hockey, and kabaddi saw Indian athletes advance or dominate their events.
Daniel Maldini had his driving licence suspended after a Milan crash, with breath tests showing alcohol above Italy's legal limit, though Cagliari confirmed his toxicology tests were negative.
The Finance Ministry has clarified that the decision to impose a 0.4% Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000 was made independently, refuting claims of foreign influence. The ministry stated the policy aims to build a self-sustaining digital payments ecosystem, with MDR funding infrastructure and supporting small merchants.
The Indian men's hockey team delivered a commanding performance at the Asian Games, defeating Sri Lanka 16-1 in their second Pool A match. Jugraj Singh, Abhishek, and Dilpreet Singh each scored hat-tricks, contributing to India's overwhelming victory.
India's domestic air passenger traffic experienced a 6.34 per cent year-on-year decline in August, reaching 121.26 lakh passengers, according to data released by the Directorate General of Civil Aviation (DGCA).
Brentford secured a historic 3-0 victory over Chelsea in a Premier League match, with second-half goals from Jaidon Anthony, Igor Thiago, and Fabio Carvalho. This marks Chelsea's third consecutive league game without a win and Brentford's first home win against Chelsea since 1938.
Uttar Pradesh Chief Minister Yogi Adityanath congratulated the Indian women's hockey team for winning the gold medal at the Asian Games 2026, ending a 44-year wait and securing a direct qualification for the 2028 Los Angeles Olympics. He also extended congratulations to other Indian medal winners in boxing, wrestling, and archery, highlighting India's strong performance at the Games.
Jay Meena secured India's first-ever soft tennis medal at the Asian Games, winning a bronze after a hard-fought semifinal loss to Japan's Takuya Kurosaka. Meena, playing in his third Asian Games, showed resilience but ultimately settled for bronze.
Mahindra has launched the Thar OG, an upgraded version of its popular SUV, built on a new M Glyde 4G platform with advanced features like Frequency Dependent Damping and Electric Power Steering, while retaining an accessible starting price of 10.32 Lakh.
The Indian men's badminton team secured a dominant 3-0 victory over Bangladesh at the Asian Games, advancing to the quarterfinals. Lakshya Sen, Ayush Shetty, and K Srikkanth all won their respective matches without dropping a game, setting up a clash with hosts Japan. Lakshya Sen also shared insights on his form and the camaraderie among players.
Indian table tennis players Manush Shah and Yashaswini Ghorpade were defeated in their singles pre-quarterfinals at the Asian Games, concluding India's table tennis campaign.
Lovlina Borgohain has made history by becoming the first Indian woman boxer to reach consecutive Asian Games finals, assuring at least a silver medal.
UPI processed an average 802 million transactions a day in September, about 1 per cent more than the 792 million a day over the same period in August.
Domestic passenger vehicle dispatches in India are estimated to have grown by approximately 21 per cent to 4.60 lakh units in September, with major carmakers like Maruti Suzuki, Tata Motors, M&M, and Hyundai all reporting double-digit growth, driven by increased supplies for the upcoming peak festival season and healthy demand.
The Indian government has introduced a 0.4 per cent Merchant Discount Rate (MDR) on UPI payments exceeding Rs 2,000 made to merchants, effective from October 15, with a comprehensive framework set to take full effect by October 15, 2026. This policy aims to regulate transaction fees while protecting small merchants and person-to-person transactions.
Indian kurash athlete Pincky Balhara secured a bronze medal at the Asian Games despite suffering a knee injury during her quarterfinal bout. She revealed that the injury hampered her performance in the semifinal, preventing a higher finish. Balhara, a two-time Asian Games medallist, also highlighted the ongoing challenges faced by Indian kurash athletes due to the lack of a recognised national federation and reliance on private support.
Carlos Alcaraz overcame early struggles with his tweaked serve and tricky Tokyo conditions to beat Alex Michelsen in three sets and keep his Japan Open title defence alive.
Indian wrestler Aman Sehrawat won the men's 57kg gold medal at the Asian Games, defeating North Korea's world champion Chong Song Han in the final.
Legendary Indian cricketer Sunil Gavaskar expressed his disappointment over Rohit Sharma missing a century against West Indies, wishing for Rohit to achieve more ODI hundreds than his age by the time he retires. Gavaskar also highlighted a significant shift in Rohit's batting approach since the 2023 ODI World Cup, where he now prioritizes preserving his wicket and converting starts into big scores, benefiting the team's scoring rate and shielding him from criticism.
Shreyas Iyer, India's T20I captain, described his initial stint as skipper as a 'tough pill to swallow' after suffering away series defeats, but emphasised the importance of maintaining 'equilibrium' following a dominant 2-0 series win over Afghanistan.
Shares of fintech firms, particularly Paytm, saw significant movement after the Indian government introduced a 0.4 per cent fee on UPI transfers exceeding Rs 2,000 made to merchants, effective October 15.
The Indian government has introduced a 0.4% fee on UPI transfers above Rs 2,000 made to merchants, effective October 15, ending nearly six years of free merchant payments. This move led to initial rallies in fintech stocks like Paytm and Mobikwik, though some later pared gains. Person-to-person transactions and small payments remain free for customers, with the fee being a Merchant Discount Rate (MDR).
BSP chief Mayawati has criticised the Centre's decision to introduce a 0.4 per cent fee on UPI merchant transactions exceeding Rs 2,000, effective October 15. She termed it a "capitalist profiteering attitude" that burdens the common people, while the government clarified that the charge is on merchants and not customers for person-to-person transactions.
Seventeen-year-old English midfielder Floyd Samba made a sensational senior debut for Manchester City, scoring two goals and earning the man of the match award in their 5-0 League Cup victory over Norwich City.
Prime Minister Narendra Modi congratulated India's Asian Games medallists, praising their outstanding performances and specifically highlighting the women's hockey team's gold medal win after over four decades. India secured a strong position in the medals tally with a six-gold haul on the penultimate day, with Modi acknowledging individual achievements in wrestling, boxing, archery, sepaktakraw, and sailing.
Mukesh Choudhary's impressive 5/78 helped Rest of India restrict Jammu and Kashmir to 278 on day two of the Irani Cup. Despite a strong fightback from J&K's Paras Dogra, Abdul Samad, and Lone Nasir Muzaffar, RoI ended the day 17 runs in arrears in their second innings, having lost an early wicket. The match has been dominated by fast bowlers, with RoI looking to build a lead on day three.
Indian gymnast Pranati Nayak secured the sixth position in the eight-woman vault final at the Asian Games in Nagoya, scoring an aggregate of 13.100. She was the sole Indian gymnast participating in the event.
'UPI has been free since Covid, so why is the government charging us now?'
Seasoned spinner Axar Patel delivered a crucial final over, helping India clinch a narrow two-run victory against Japan in a rain-curtailed one-off T20 International in Sano, despite a challenging pitch and a low-scoring affair.
