The GST Council has approved significant reforms including removing the arrest power of tax officials, raising the prosecution threshold fivefold to Rs 5 crore, and introducing faster, largely automated refunds for taxpayers. These changes, aimed at fostering trust and easing business, will be implemented from April 1, 2027.
Avengers: Endgame Encore adds four crucial scenes that connect the old MCU to Avengers: Doomsday, from Loki's shocking return to Doctor Doom's sinister plans for the multiverse.
Net office space leasing in India's top eight cities declined by 20 per cent in the January-September period to 36.7 million sq ft, primarily due to limited fresh supply of quality workspaces and a high base effect from the previous year, according to a report by Cushman & Wakefield. Despite this, gross leasing saw a 1 per cent increase, reaching a record 64.6 million sq ft, indicating strong underlying market activity.
India all-rounder Naman Dhir made an impressive T20I debut, contributing significantly with his off-spin bowling to help India secure a win against West Indies. Despite his bowling success, Dhir, whose primary strength is batting, is eager for an opportunity to showcase his skills with the bat. He credited the IPL for preparing him for international cricket and expressed his joy at fulfilling his dream of representing India.
The Finance Ministry has refuted allegations that US pressure influenced the decision to levy a 0.4 per cent Merchant Discount Rate (MDR) on select UPI payments. The ministry clarified that the NPCI guidelines prioritise RuPay credit cards on UPI to promote domestic alternatives and ensure a self-sustaining revenue model for smaller domestic companies, countering claims of favouring foreign payment providers.
For generations, women in Bishkhor, Uttar Pradesh, have lived with stigma and limited choices. Designer Anurag Gupta hopes to help change that narrative, one livelihood at a time.
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.
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.
Anup Saha, currently a Wholetime Director at Kotak Mahindra Bank, has been appointed as the new Managing Director and Chief Executive Officer for a three-year term, effective January 1, 2027, with the Reserve Bank of India's approval.
Sonam Maskar, a silver medallist in the women's 10m air rifle team event, has expressed her ambition to secure a quota place for the 2028 Los Angeles Olympics at the upcoming ISSF World Championship in Doha. She also reflected on her journey, highlighting financial struggles and her father's support. The article also features kabaddi player Raj Rani, who won a gold medal at the Asian Games, sharing her joy and acknowledging her father's role in her success.
'Existing borrowers who have surplus cash should make partial loan prepayments to offset the impact of rising EMIs and reduce the overall interest burden.'
'Being a mother is not an easy job and you are a working single mother. Give yourself some credit for managing all of this. Be proud of yourself. That positivity and confidence will naturally rub off on your daughter,' says rediffGURU Archana Deshpande.
Suraj Prabodh, an unseeded player, caused a major upset at the 31st Fenesta Open National Tennis Championship by defeating second seed Aditya Balsekar in a thrilling three-set match. The tournament also saw other upsets in men's singles and doubles, while top seeds advanced in women's and junior categories.
Indian men's doubles badminton player Satwiksairaj Rankireddy discusses the reasons behind his and Chirag Shetty's unexpected first-round exit from the Asian Games. He highlights the need to improve their mental game and acknowledges their opponents' strong comeback, while Chirag Shetty admits they could have played smarter.
Indian archers returned from the Asian Games with a historic haul of 5 gold medals, 2 Olympic quotas, and other medals, celebrating their success and triumphs over global powerhouse South Korea. Coaches and athletes expressed elation, crediting rigorous training, teamwork, and a supportive ecosystem for their unprecedented performance.
75% of India's 60 million digital-payment merchants have never recorded a transaction above 2,000.
Indian quarter-miler MR Poovamma, 36, secured her third Asian Games 4x400m relay gold, marking a triumphant return after a two-year doping ban. She expressed immense satisfaction in proving her critics wrong and credited her family and husband for their unwavering support during her challenging comeback journey.
Non-banking financial companies (NBFCs) experienced a significant 68.5 per cent year-on-year growth in gold-backed credit in July 2026, while banks saw their gold loan growth moderate to 88.1 per cent from 136.4 per cent a year prior, according to RBI data.
Asian Games bronze medallist Salman Khan received a grand welcome in his ancestral village of Pure Singai Kherouna, Amethi. He credited his achievement to his parents, coach, and community support, urging local youth to embrace sports, discipline, and hard work for success.
The GST Council is set to discuss the application of GST on merchant fees for UPI transactions exceeding Rs 2,000. This comes as a new Merchant Discount Rate (MDR) of 0.4% (capped at Rs 300) is effective from October 15 for such transactions, which, as a service, would typically attract an 18% GST levy. The Council's decision is anticipated to consider consumer interests, with merchants potentially able to claim Input Tax Credit.
Punjab & Sind Bank MD and CEO Swarup Kumar Saha clarified that merchants cannot pass on Merchant Discount Rate (MDR) charges to customers for UPI payments, ensuring consumers only pay the displayed price. The new MDR structure, effective October 15, applies a 0.4% charge on P2M transactions above Rs 2,000, with specific flat rates for certain sectors, but small-value transactions remain free.
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.
Uttar Pradesh Chief Minister Yogi Adityanath announced the state's ambitious shift from mobile phone assembly to advanced microchip manufacturing, data centres, and artificial intelligence. He highlighted significant investments and growth in the digital economy, attributing the transformation to the "double-engine government's" alignment with national initiatives like 'Make in India' and 'Aatmanirbhar Bharat'. Adityanath also criticised previous administrations for hindering the state's potential.
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.
After India's defeat despite scoring 249, Gautam Gambhir says only the openers are permanent in T20 cricket and backs a flexible batting order.
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.
India A secured a thrilling draw against Australia A in the second four-day match, thanks to resilient batting from Yash Rathod and Shams Mulani. This draw ensured India A won the two-match series 1-0.
Tata Sons Chairman N Chandrasekaran affirmed India's robust economic position amidst global uncertainty, emphasising that energy security, advanced manufacturing jobs, and investment in human capital are 'critical' for sustaining the nation's long-term growth.
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.
South African jurist Navanethem 'Navi' Pillay, of Indian origin, has been awarded the 2026 Nobel Peace Prize for her lifelong dedication to advancing human rights, peace, and international law, including her significant contributions to shaping international law on genocide and sexual violence.
Asian Games gold medallist Sujeet Kalkal is focusing on improving his ground game, identified by coaches as a crucial area for his 2028 Los Angeles Olympics aspirations.
Shreyas Iyer scored his maiden T20 International hundred after a crucial two-hour troubleshooting session with former India batting coach Abhishek Nayar. Nayar revealed they worked on Iyer's grip, initial movements, and tactical nuances to help him generate more force and clear boundaries, addressing issues Iyer felt during the Asian Games. Iyer's 43-ball 102 not out led India to an eight-wicket win against West Indies on Tuesday.
'Credit to the Japan team for taking on the challenge and putting up a fight.'
The Insurance Regulatory and Development Authority of India (Irdai) has proposed a phased reduction in the expenses of management (EoM) limits for insurers, aiming to lower the overall cost of insurance and enhance returns for policyholders. The proposals also include a new framework for commissions, stricter measures against mis-selling, and mandatory cost audits.
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.
Mushtaq Khan, celebrated for his memorable roles in films like Welcome and Gadar: Ek Prem Katha, passed away after a battle with cancer.
NSE's draft prospectus discloses a legal dispute over 5,000 shares allegedly transferred by mistake into an individual investor's demat account.
Harita Bhadra, India's Asian Games bronze-winning sprinter, showcased her dual talents by securing a medal in her debut international competition while also planning to design a special piece for her handmade jewellery brand, Dagina. The Loughborough University graduate, who dedicated a year to athletics, overcame a last-minute inclusion to deliver a strong performance in the 200m final, crediting her family's unwavering support.
Lucknow police have arrested two individuals for allegedly abducting a youth and holding him captive for four days over an unpaid mobile phone instalment. The victim was reportedly forced to do labour work and had one unit of blood drawn against his will and sold. The accused, one of whom worked for a credit services company, also allegedly extorted money online from the victim.
A 25-basis-point increase would restore some real monetary restraint when expected inflation has risen, liquidity remains easy and growth is strong, points out Amarendu Nandy.
