RBI Deputy Governor Shirish Chandra Murmu has dismissed concerns that the new Merchant Discount Rate (MDR) on UPI payments above Rs 2,000 will increase cash transactions. He also clarified the 'cash paradox' of rising digital payments alongside cash in circulation, explaining cash's dual role. Murmu further detailed the RBI's extensive regulatory changes aimed at reducing compliance burdens and emphasised that accountability for AI-driven decisions in finance will remain with institutional boards.
A 31-year-old man, Yuvraj Singh Manchanda, was found murdered in a Gurugram drain, allegedly over a financial dispute. His family claims Gurugram police recovered and cremated his body without informing them, despite him being reported missing in Delhi. Two former colleagues have been arrested in connection with the murder.
The BCCI's 95th Annual General Meeting in Mumbai will address several crucial matters, including the grant of associate membership to the Cricket Association of Andaman and Nicobar Islands, the appointment of a BCCI representative to the ICC, and the induction of new members to the IPL Governing Council.
The finance ministry has announced that all banks, including Regional Rural Banks, will remain open on Sunday, September 27, 2026, to ensure public convenience amidst a proposed three-day strike by the United Forum of Bank Unions (UFBU) starting September 28, 2026. The strike, if it materialises, seeks a 5-day banking week and pension reforms.
The Indian government has challenged Congress leader Rahul Gandhi's criticism of levying fees on UPI payments above Rs 2,000 to merchants. The government highlighted that a parliamentary standing committee, which included Congress MPs, had previously backed a tiered Merchant Discount Rate (MDR) framework for UPI. This move aims to ensure the financial sustainability of the UPI ecosystem and reduce its dependence on government subsidies, a concern raised by the committee due to the significant funding gap between allocations and operational costs.
A 40-year-old man in Amreli, Gujarat, allegedly killed his five-year-old daughter and then died by suicide, citing severe financial distress. The tragic incident, discovered by his wife, involved the man leaving suicide notes and decorating the room, suggesting a final, desperate act.
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.
The Tata Sons board has voted to reappoint N Chandrasekaran as chairman for a third five-year term, a decision influenced by the Reserve Bank of India's rejection of the company's application to surrender its NBFC registration, which revives the prospect of a stock market listing.
Saudi Arabia's East-West pipeline shutdown could make crude costlier for India as refiners face fewer supply routes and rising freight and insurance costs.
The International Chess Federation (FIDE) has announced it will reimburse teams, including India, that faced accommodation issues and had to pay for their own rooms at the Chess Olympiad in Samarkand, Uzbekistan.
The ongoing US conflict with Iran has cost the Trump administration an estimated $45.1 billion, according to a Pentagon estimate provided to the US Congress on Friday, CNN reported, citing two sources familiar with the matter.
A deposit is not necessarily taxable simply because it appears in a bank account. What matters is whether its source can be satisfactorily explained.
The disappearance of 31-year-old Yuvraj Singh Manchanda, weeks before his wedding, led to his alleged murder and the discovery of his body in a Gurugram drain. His family alleges that Gurugram Police recovered and cremated his body without informing them, learning about it only during the Delhi Police investigation into his disappearance. Two former colleagues have been arrested in connection with the murder, allegedly due to a financial dispute.
Urban Indian millennials are caught in an algorithmically amplified consumption spiral where social media normalises spending patterns that systematically undermine retirement security.
The Enforcement Directorate has arrested Deepesh Bajoria, a principal bookie from Guwahati, in connection with a large-scale money-laundering investigation linked to an illegal T20 cricket-betting syndicate operating during IPL seasons across the Northeast. Bajoria allegedly used online platforms and encrypted channels to facilitate betting, routing over Rs 28 crore through a non-operational firm's bank account.
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.
New photographic evidence and a Pentagon inspector general's report confirm extensive damage to US military installations across the Middle East due to Iranian missile and drone strikes. The report details billions in financial costs, structural losses to hundreds of buildings, and damage to dozens of aircraft, contradicting previous assertions about US military readiness and ordnance stockpiles. The conflict also led to disruptions in the Strait of Hormuz, impacting global oil prices.
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 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.
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.
Chief Election Commissioner Gyanesh Kumar is facing significant scrutiny after an investigation revealed objections from his fellow election commissioners, Sukhbir Singh Sandhu and Vivek Joshi, regarding decisions made during the Special Intensive Revision of voter lists. The objections, reportedly made at least 14 times, concerned issues like changes to voter registration forms and centralised control over electoral roll databases, intensifying criticism of Kumar's tenure and the EC's impartiality.
India is actively integrating payment system harmonisation into its Free Trade Agreement (FTA) negotiations, especially with countries hosting a large Indian diaspora. This strategy aims to leverage India's growing fintech ecosystem, facilitate cross-border financial services, and position India as a global hub for financial services exports, particularly through platforms like GIFT City.
The state-run Pakistan Sports Board is only funding a fraction of the country's 248-member Asian Games contingent, with many athletes and officials relying on federations, the POA, or self-financing. The Pakistan Olympic Association secretary, Khalid Mahmood, confirmed that self-funded medal winners would be compensated and highlighted Pakistan's medal hopes across various disciplines.
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.
The Anti-Corruption Bureau (ACB) has registered two separate First Information Reports (FIRs) against Sheeba Inayat, a Jammu and Kashmir Administrative Service (JKAS) officer. The charges include amassing assets disproportionate to her known income and alleged malpractices in the distribution of Public Distribution System (PDS) foodgrains, leading to a wrongful loss of over Rs 2.61 crore.
Dig into the prospectus. Use the prospectus to understand the business and its risks.
Hockey India is set to hold an emergent Executive Board meeting on September 18 to address a deepening internal controversy involving President Dilip Tirkey and Secretary Bhola Nath Singh, stemming from a jersey colour change. The meeting will also focus on restructuring the Hockey India League (HIL) to create an independent Governing Council with franchise involvement, and discuss upcoming elections and Asian Champions Trophy hosting.
Institutional portion subscribed 12.68 times; retail crosses quota.
Kerala Police have issued a warning against online fraudsters selling fake tickets for the upcoming India-West Indies first ODI match in Thiruvananthapuram. Scammers use social media to lure victims, collect personal details, and demand multiple payments under various pretexts, advising the public to only use official booking platforms.
Indian companies, including NBFCs, filed proposals to raise $7.696 billion through external commercial borrowings (ECBs) and foreign currency convertible bonds (FCCBs) in July 2026, a significant increase from $6.09 billion in June.
State Bank of India Chairman C S Setty stated that banks will take three to four months to deploy the significant funds mobilised through foreign currency non-resident (bank), or FCNR(B), deposits, which is unlikely to cause "abnormal lending". He also highlighted the need for agentic artificial intelligence (AI) costs to fall sharply for its widespread deployment in India, envisioning its role in transforming banking from fraud detection to personalised financial assistance.
Quimcy Dsouza, a former Maharashtra footballer, made an unconventional journey to the Asian Games teqball semifinals after discovering the sport through Ronaldinho. Despite a defeat, she expressed pride in her performance and her role in pioneering teqball in India, highlighting the challenges of limited funding and her dedication to growing the sport.
The National Financial Reporting Authority (NFRA) has commenced an investigation into Rajesh Exports concerning a 15.15 trillion financial misstatement, following a referral from market regulator Sebi.
Bakaiti Season 2 has the warmth and terrific performances to make the Katarias feel like family, but its repetitive conflicts and easy resolutions leave their struggles feeling oddly inconsequential, argues Sreeju Sudhakaran.
BRICS members have expressed 'serious concerns' over the unilateral imposition of trade and finance-related measures, including higher tariffs and non-tariff barriers, stating these actions distort trade and are inconsistent with WTO rules. The grouping also highlighted elevated risks to the global economic outlook due to geopolitical tensions, trade fragmentation, and protectionism.
An 18-year-old in Chandigarh has been arrested for allegedly shooting his father, a police head constable, dead. The accused, Armaan, reportedly had an argument with his parents over his immediate desire to marry his girlfriend, a demand they rejected until he turned 21. Armaan was previously out on bail in a case where he was involved in a fatal accident. Police recovered a countrymade pistol and are investigating the source of the weapon.
Pakistan Prime Minister Shehbaz Sharif repeatedly refused to answer reporters' questions regarding Lashkar-e-Taiba (LeT) chief Hafiz Saeed during his visit to the United Nations headquarters for the 81st United Nations General Assembly (UNGA).
The challenge for India lies in navigating complex landscape to its best advantage. The BRICS Summit will test its navigation skills, asserts former foreign secretary Shyam Saran.
A Palghar court has sentenced Madhu Dharma Govari to 20 years of rigorous imprisonment for sexually assaulting a minor boy. The court rejected the defence's claim of improbability in a crowded locality, emphasizing that "bystander apathy" does not undermine a victim's testimony. Forensic evidence and the victim's credible account corroborated the conviction under POCSO Act and IPC.
RNFI Services Ltd has received in-principle authorisation from the Reserve Bank of India (RBI) to operate as a Payment Aggregator - Physical (PA-P). This approval allows the company to expand its financial infrastructure into physical, offline, and in-store payments, complementing its existing regulated financial services portfolio.
