Indian benchmark indices Sensex and Nifty rebounded in early trade after two days of losses, driven by easing crude oil prices and strong buying in blue-chip IT stocks, despite continued global uncertainties. Track Sensex, Nifty on September 30.
Finance Minister Nirmala Sitharaman has strongly refuted Opposition allegations that the decision to levy a 0.4 per cent Merchant Discount Rate (MDR) on specific UPI transactions above Rs 2,000 was influenced by external pressure. She clarified that the decision was a professional one made by the payment ecosystem, not a government imposition or a tax on consumers, with collected funds distributed among banks and UPI entities to ensure a sustainable digital payments framework.
Chief Economic Advisor V Anantha Nageswaran stated that the second half of the current fiscal year (FY27) is expected to be challenging due to increased downside risks to global growth and rising interest rates worldwide.
Indian benchmark indices, Sensex and Nifty, experienced a significant drop in early trade, with the Sensex falling over 600 points, primarily due to crude oil prices surging past the USD 100 per barrel mark and weak global market trends. Track Sensex, Nifty on September 24.
An IIT Madras study reveals that financial cybercrime victims in India are often highly educated professionals, challenging the notion that only careless or financially unaware individuals are targeted. The research highlights that digital literacy doesn't guarantee protection, as fraudsters exploit stress and emotional vulnerabilities.
A new report by FICCI, BCG, and IBA outlines that India's banking sector must grow significantly faster than nominal GDP to support a USD 30 trillion economy by 2047, requiring banking assets of USD 45 trillion. The report highlights the sector's current strength, challenges in digitisation, and the need to enhance resilience against fraud and cyber threats, proposing a 13-point agenda for stakeholders.
Indian benchmark indices, Sensex and Nifty, experienced a sharp decline, with the Sensex tumbling 1,247.71 points and the Nifty settling below 23,100, primarily driven by a significant spike in crude oil prices and weak global market trends.
A nearly 70,000-page chargesheet filed by the Supreme Court-mandated SIT details the diversion of donations from the Ram temple in Ayodhya, revealing a network of eight accused who allegedly removed, concealed, and distributed pilfered funds during cash-counting, supported by 105 CCTV instances and thousands of text messages.
Tata Trusts, the majority shareholders of Tata Sons, have proposed merging two operating companies, Tata Electronics Systems Solutions Pvt Ltd (TESS) and Tata Consulting Engineers (TCE), with Tata Sons. This restructuring aims to shed Tata Sons' classification as a non-banking financial company (NBFC) and a core investment company (CIC), thereby allowing it to retain its status as an unlisted private company and resolve ongoing disputes regarding its future ownership.
The Jammu and Kashmir High Court has rejected a petition by the Enforcement Directorate to add charges of receiving and concealing stolen property in the alleged Jammu and Kashmir Cricket Association fund scam. While the court upheld the ED's right to file such an application, it found insufficient merit in the current material to invoke sections 411 and 424 of the Ranbir Penal Code, stating that the alleged acts were part of the principal transaction of conspiracy and breach of trust.
India's economy is projected to lose momentum in the second half of fiscal 2026-27, with tighter financial conditions, elevated energy prices, and broadening inflation pressures posing significant risks, according to DBS Bank economist Radhika Rao.
Government sources clarify that the 0.4% merchant discount rate (MDR) on UPI transactions above Rs 2,000, effective October 15, will not be passed on to consumers. The charge, paid by merchants, aims to create a sustainable revenue framework for the digital payments ecosystem, with funds shared among banks and UPI entities. Small merchants using QR codes for up to Rs 1 lakh monthly are exempt.
HCL Technologies' software division, HCLSoftware, is set to acquire Croatia-based enterprise RPA provider Robotiq.ai for 9 million euro. This strategic acquisition aims to enhance HCLSoftware's AI-driven workflow capabilities and automate tasks in complex business environments, with the deal expected to close by November 2026.
Finance Minister Nirmala Sitharaman clarified that the proposed Merchant Discount Rate (MDR) on select high-value UPI transactions is not a tax or cess, and its collections will not go to the government. She explained that MDR is a charge within the digital payments ecosystem, shared among participants to maintain infrastructure, and will not be passed on to consumers. The NPCI's new framework, effective October 15, applies a 0.4% MDR on person-to-merchant UPI transactions above Rs 2,000, with most transactions remaining free and small merchants exempt.
Indian benchmark indices Sensex and Nifty experienced volatile trading, influenced by elevated crude oil prices, high US bond yields, and selling pressure in IT stocks, despite an early rebound.
India's foreign exchange reserves experienced a substantial decline of USD 14.881 billion, reaching USD 765.901 billion for the week ending September 18, primarily due to a fall in foreign currency assets, as per recent RBI data.
Listing, according to Noel Tata, will fundamentally change how the company and the group have been working over the past 150 years.
Haryana Chief Minister Nayab Singh Saini met with a World Bank delegation to discuss advancing Artificial Intelligence, digital governance, and skill development in the state. The discussions focused on leveraging technology to enhance citizen services, with plans to showcase Haryana's AI Sandbox globally and develop a dedicated AI model for the state.
The Allahabad High Court has ordered the State Bank of India (SBI) to refund Rs 19.90 lakh debited from a widow's fixed deposit to recover her deceased husband's personal loan. The court deemed the bank's action an "abominable" breach of banking practice and also directed SBI to pay Rs 1 lakh in compensation to the woman.
The Karnataka CID is investigating alleged irregularities in the KPSC veterinary officer recruitment exam, questioning 40 candidates and arresting suspended IAS officer Gyanendra Kumar Gangwar. The probe has revealed financial links, with significant deposits traced to accounts connected to candidates and middlemen, and has frozen substantial amounts. The High Court has ordered a fresh probe by an SIT.
75% of India's 60 million digital-payment merchants have never recorded a transaction above 2,000.
Indian benchmark indices, Sensex and Nifty, closed lower due to significant selling in HDFC Bank and Axis Bank shares, driven by margin-related concerns and escalating US-Iran tensions, which also pushed crude oil prices higher.
The Enforcement Directorate (ED) conducted searches in Jaisalmer, Rajasthan, investigating the alleged misuse of Rs 5.10 crore in foreign donations from a non-FCRA registered Belgian entity for proselytisation activities. Two local residents are accused of receiving funds without proper registration, disguising them as educational or cultural services, and using them to influence vulnerable communities.
Indian stock markets experienced a significant downturn, with the Sensex plunging 1,124 points to a six-month low and the Nifty closing below 22,800, driven by surging crude oil prices, escalating geopolitical uncertainties, and weak global market trends.
Reliance Industries Ltd (RIL) has successfully raised a total of Rs 25,000 crore through domestic bond issues in September, including a recent Rs 13,000 crore 10-year bond at 7.90 per cent, as it prioritises funding certainty amidst expectations of a possible RBI rate hike and rising borrowing costs.
Indian benchmark indices Sensex and Nifty rebounded on Wednesday, driven by value buying in banking stocks and select heavyweight counters, with the Sensex climbing 332.63 points and the Nifty ending above 23,200.
It is important to understand that the rupee's appreciation, driven by the 2013 special swap scheme, reduced India's import costs for petroleum, oil, and gold, points out Dr Ashwani Mahajan, National Co-Convenor, Swadeshi Jagaran Manch.
Indian benchmark indices, Sensex and Nifty, recorded their fourth consecutive day of losses, driven by relentless foreign institutional investor (FII) outflows, rising bond yields, and a significant surge in crude oil prices, impacting overall investor sentiment.
The Supreme Court has refused to grant an interim stay on the imposition of Merchant Discount Rate (MDR) on UPI person-to-merchant transactions exceeding Rs 2,000, which is set to take effect from October 15. The court has agreed to examine the challenge to this new fee and has issued notices to the Centre, RBI, and NPCI, seeking their responses within four weeks. A Public Interest Litigation (PIL) argues that the levy lacks statutory safeguards, transparency, and public consultation, and could adversely affect merchants and consumers.
The World Bank's "World Development Report 2026" urges developing countries to adopt low-cost AI tools to accelerate progress in healthcare, education, and judicial services. The report highlights AI's potential to boost productivity and improve public services, while noting that jobs in high-income countries are more at risk from automation than those in developing nations.
If a bank sold the policy, complain to its grievance cell and, if necessary, escalate the complaint to the Reserve Bank of India Ombudsman.
Indian golfer Rayhan Thomas finished Tied-71st at the Pinnacle Bank Championship on the Korn Ferry Tour, while Indian-American rookie Mahanth Chirravuri secured a Tied-19th finish, his best on the tour. Frankie Harris won the title with a remarkable 59 and a playoff victory.
The portfolio could be split between listed and unlisted investments, or structured along sectoral lines.
India's foreign exchange reserves decreased by $4.92 billion to $780.78 billion for the week ending September 11, primarily due to a reduction in foreign currency assets and gold reserves, as per the latest RBI data.
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.
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.
Indian equity benchmark indices, Sensex and Nifty, extended their losses for a second consecutive day, driven by elevated crude oil prices, persistent foreign institutional investor (FII) outflows, and high US Treasury yields.
The Delhi High Court has ordered the winding up of Paytm Payments Bank Limited (PPBL) following the Reserve Bank of India's cancellation of its banking licence due to non-compliance and concerns over depositor interests.
India's Chief Economic Advisor V Anantha Nageswaran stated that the country's balance of payments (BoP) pressure is expected to remain a continuous challenge due to rising imports, commodity dependence, high global interest rates, and intense competition for capital.
The Supreme Court has noted that the Special Investigation Team (SIT) probing alleged embezzlement at the Ram temple in Ayodhya identified 105 instances of unauthorised currency removal from the counting room. While no discrepancies were found in valuable articles like silver bricks, eight accused have been identified, and a chargesheet is expected soon. The investigation involved examining CCTV footage, financial records, and witness statements.
