The National Payments Corporation of India (NPCI) has deferred the implementation of a 0.4 per cent Merchant Discount Rate (MDR) on Person-to-Merchant UPI transactions above Rs 2,000. Originally set for October 15, the new date will be announced after Diwali, providing relief to users and merchants, especially during the festive season. The decision came amidst opposition concerns about the levy burdening consumers.
The Union Sports Ministry has committed a grant-in-aid of Rs 2000 crore to the Gujarat Government for hosting the 2030 Commonwealth Games in Ahmedabad. This funding, based on 2025 rates and expected to reach Rs 2500 crore by 2030, will be disbursed from the Assistance to National Sports Federations (ANSF) scheme. Ahmedabad won the bid last year to host the centenary edition, which is anticipated to be a grand event featuring 15 to 17 disciplines, unlike the scaled-down Glasgow Games.
The National Payments Corporation of India (NPCI) has deferred the implementation of a 0.4 per cent Merchant Discount Rate (MDR) on Person-to-Merchant (P2M) UPI payments above Rs 2,000, originally set for October 15, until after Diwali.
Sanju Samson smashed 56 off 22 balls to join India's 100-six T20I club as the team became the second nation to cross 2,000 sixes in the format.
Abhishek Sharma joined India's 2,000-run T20I club with a blistering 69 off 30 balls, equalling Suryakumar Yadav's calendar-year sixes record and registering his seventh powerplay fifty.
The Indian government has confirmed there will be no rollback of the 0.4 per cent Merchant Discount Rate (MDR) charges on Unified Payments Interface (UPI) transactions exceeding Rs 2,000, effective from October 15. Despite opposition, officials state the decision aims to make the UPI ecosystem self-sustainable and secure, with charges applying only to merchant payments, not person-to-person transactions.
'These limits will change. Very soon restrictions, restrictions will come.'
Tax experts clarify that merchants will pay 18% GST on Merchant Discount Rate (MDR) for UPI payments exceeding Rs 2,000, effective October 15. However, registered merchants can claim Input Tax Credit (ITC), mitigating the tax burden. This move is expected to generate significant GST revenue for the exchequer while funding payment infrastructure.
The Reserve Bank of India (RBI) has endorsed the introduction of a Merchant Discount Rate (MDR) on UPI transactions exceeding Rs 2,000, effective October 15. This move, which levies a 0.4 per cent fee on merchant payments above the threshold, aims to bolster the long-term sustainability and growth of India's digital payments ecosystem. The RBI clarified that person-to-person (P2P) transactions and small person-to-merchant (P2M) payments below Rs 2,000 will remain free for users, ensuring no direct charge on customers.
A high-level committee, including representatives from banks and payment associations, is set to decide on Merchant Discount Rate (MDR) for UPI transactions exceeding Rs 2,000 to merchants. While person-to-person and person-to-merchant transactions up to Rs 2,000 remain free, the move follows a recent amendment to the Payment and Settlement Systems Act, sparking debate and clarification from the Finance Minister that only certain high-value merchant transactions might incur charges.
Indian wicketkeeper-batter Sanju Samson has surpassed 2,000 international runs, achieving the milestone with an explosive 57 off 22 balls against Afghanistan at Arun Jaitley Stadium. This performance marks a significant return to form for Samson, who has also had a stellar year in T20Is, including a 'Player of the Tournament' award in the T20 World Cup.
A Public Interest Litigation has been filed in the Supreme Court challenging the Centre's decision to impose a 0.4 per cent Merchant Discount Rate (MDR) on UPI person-to-merchant transactions exceeding Rs 2,000. The plea argues that the levy was introduced without adequate statutory safeguards, transparency, or public consultation, and questions its constitutional validity and potential adverse effects on merchants and consumers.
Merchants will be subject to an 18 per cent Goods and Services Tax (GST) on the Merchant Discount Rate (MDR) for UPI payments exceeding Rs 2,000, but can mitigate this burden by claiming input tax credit (ITC), according to tax experts.
The Indian government has introduced a 0.4% Merchant Discount Rate (MDR) on UPI person-to-merchant (P2M) transactions exceeding Rs 2,000, effective October 15. This move ends nearly six years of fully free UPI payments, though person-to-person (P2P) transfers and small P2M payments remain free. The charges aim to bolster investment in UPI infrastructure, with specific exemptions and caps for essential sectors.
The National Payments Corporation of India (NPCI) has informed the Supreme Court that merchants are prohibited from passing on Merchant Discount Rate (MDR) charges to customers under the new UPI pricing framework. This clarification comes in response to a petition challenging the imposition of MDR on UPI person-to-merchant transactions exceeding Rs 2,000, with NPCI defending the revised framework as crucial for the sustainability of the UPI ecosystem.
Goa successfully hosted the sixth edition of Ironman 70.3, attracting over 2,000 triathletes from 30 countries. Chief Minister Pramod Sawant flagged off the event, reiterating the state's commitment to promoting sports tourism and positioning Goa as a premier destination for such international events.
Sachin Tendulkar opens up about his captaincy days, reveals why Ganguly and Dhoni top his list of favourite leaders and shares his admiration for Temba Bavuma.
An Indian School of Business professor highlights the lack of precise data on losses from free UPI transactions, arguing that the benefits, such as user data generation, are often overlooked in the debate over implementing a Merchant Discount Rate (MDR). A recent ISB survey suggests that charging MDR could lead street vendors to revert to cash, despite the government's allowance for MDR on transactions above Rs 2,000 and NPCI's deferral of its implementation.
Kerala's 'Operation Toofan' anti-narcotics drive has led to the arrest of over 15,000 people in more than 14,000 drug-related cases since its launch on June 2. Authorities have seized over 2,000 kg of narcotics, frozen bank accounts, and issued international notices for absconders, while also focusing on prevention, treatment, and rehabilitation.
An alleged drug peddler, Hariram Jat, who had been hiding in Nepal for nearly a year, was arrested in Sikar, Rajasthan, with 98.40 grams of MDMA. Police had offered a reward for his capture, and he was apprehended on Saturday based on a tip-off.
Gurdial Singh Bhangu, the coach who led the Indian women's hockey team to a historic gold medal at the 2002 Commonwealth Games, has passed away at 86 in Surrey, Canada. His tactical brilliance, particularly his advice during the dramatic final against England, was crucial to India's victory. Bhangu's legacy also includes coaching the Nigerian women's team and winning a silver medal at the 1998 Bangkok Asian Games with India, earning him the Dronacharya Award in 2000.
'My parents were crying because they were so excited that I was on screen, that it was an YRF film, and it was opposite Rani Mukerji.'
Sachin Tendulkar delighted fans on Reddit by using a popular Malayalam movie dialogue to playfully deflect a question about his advice to Sanju Samson.
The Vigilance and Anti-Corruption Bureau (VACB) has launched a probe after seizing Rs 36,500 from a document writer's agent, suspected to be bribe money, during a surprise inspection at the Edakkara sub-registrar office in Malappuram. An additional Rs 2,000 in unaccounted cash was also recovered from employees. A preliminary inquiry is underway to determine if a case should be registered.
The Department of Pension and Pensioners' Welfare (DoPPW) is encouraging pensioners to adopt Digital Life Certificates (DLCs) through face authentication technology. A nationwide campaign is underway to facilitate this process, aiming for digital empowerment and convenience for pensioners, including those in remote areas.
How the Indian Air Force's strategic deployment of Mirage 2000 jets and precision laser-guided bombs during Operation Safed Sagar delivered a 'decisive and crushing blow' to the enemy, playing a pivotal role in India's victory in the 1999 Kargil War.
J&K Bank MD and CEO Amitava Chatterjee defended the surcharge on UPI transactions above Rs 2,000, stating it is necessary for the system's long-term sustainability. He also discussed the shift of household savings to mutual funds, the bank's profit growth, and India's consumption-based economy.
Indian Army athlete Biten Singh clinched the men's title at the sixth edition of IRONMAN 70.3 Goa, setting a new course record of 4 hours, 24 minutes and 29 seconds. Over 2,000 triathletes from 30 countries participated in the endurance event. Singh, who trained while serving in Tawang, had aimed to break the record after withdrawing from the 2024 edition. Marina Shliakhtina won the women's category, and Team Fit Swaggers Goa secured the relay title.
Delhi Police arrested 62-year-old Vishwanath Singh alias Munna, who had been absconding for over 26 years in a murder case from 2000. The victim, Jai Prakash, was found injured in 1998 and later died. Investigations revealed Singh allegedly murdered Prakash with a hammer due to suspicion of an illicit affair with his wife, staging it as a hit-and-run. Singh was declared a proclaimed offender in 2001 and was traced through family members after years of changing residences and identities.
Goa is actively expanding its tourism appeal beyond traditional beaches by strategically positioning itself as a premier international destination for sporting events. This initiative aims to attract athletes and sports enthusiasts globally, diversify tourism offerings, and ensure year-round visitor engagement, fostering economic opportunities for local communities.
'Since there is no fence, the border is based on perception. China conducts its patrols along their perception line. India patrols along its perception line.'
Four individuals have been arrested by the Mira Bhayandar-Vasai Virar Police in Maharashtra for allegedly constructing approximately 2,000 unauthorised structures on land earmarked for the Virar-Alibaug Multi-modal Corridor project. The accused reportedly forged documents to illegally claim compensation, exploiting advance intelligence about state land acquisition between 2022 and 2023. The ongoing investigation has uncovered a wider criminal conspiracy, leading to severe charges under the Indian Penal Code.
Kerala Police have seized banned tobacco products worth approximately Rs 7 crore in Aluva, arresting seven individuals, including six from Rajasthan. The massive haul, part of the ongoing 'Operation Toofan' anti-drug drive, involved over 15 lakh packets stored in a godown and distributed across the state from various origins.
Delhi Police have arrested two men in Mathura for allegedly operating a cyber fraud scheme that used fake health camps to collect Aadhaar and biometric details from villagers. These details were then used to activate over 3,000 e-SIM cards, linked to frauds worth Rs 2.64 crore. The accused sold activated e-SIMs for profit, with payments made via cryptocurrency.
Indian benchmark indices, the Sensex and Nifty, witnessed a significant rally, with the Sensex jumping 2,009 points and the Nifty surging 576 points. This surge is attributed to a sharp decline in crude oil prices, hopes for a resolution to the West Asia conflict, and the Democratic Party gaining control of the US Congress in the midterm elections.
As many as 15,000-20,000 frontline retail jobs have reportedly been rationalised, with further cuts feared.
Nayanthara's divine powers cannot save Mookuthi Amman 2 from its screenplay that feels as outdated as its idea of comedy.
Veteran batter Paras Dogra has become only the second player to feature in 150 Ranji Trophy matches, joining Wasim Jaffer. Dogra achieved this milestone during his side's match against Baroda on Monday. He has been a prolific run-scorer in domestic cricket, also having played in the IPL.
The Enforcement Directorate has provisionally attached assets worth Rs 510 crore belonging to the Reliance Anil Ambani Group (RAAG) in connection with alleged bank fraud and money laundering cases involving Reliance Home Finance Limited, Reliance Commercial Finance Ltd., and Reliance Communication Ltd. The attached assets include aircraft, land parcels, windmills, and financial instruments.
Air Chief Marshal Ashutosh Dixit has taken over as the new Chief of Air Staff, succeeding Air Chief Marshal A P Singh. An accomplished fighter pilot with extensive experience, Dixit brings a distinguished career spanning four decades to his new role, having held various command and staff appointments.
