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.
The CBI has registered a case against USA-based Christian missionary group The Timothy Initiative (TTI) and its associates for allegedly misusing Rs 92.55 crore in foreign funds for missionary activities, violating the Foreign Contribution (Regulation) Act, 2010. The case, based on a Union Home Ministry complaint and ED investigation, highlights the alleged use of foreign debit cards and attempts to conceal identities.
Brazil has announced its 26-member squad, featuring stars like Vinicius Junior, Raphinha, and Marquinhos, for a historic first-ever football match against India on October 3 in Kolkata. This landmark fixture follows Brazil's Australia tour and promises a grand spectacle for Indian football fans.
India continues to lead the Athletics Integrity Unit's (AIU) global list of dope offenders with 162 names, highlighting a significant problem in the country's sports. The nation has been re-categorised to 'Category A' by the AIU, indicating an "extremely high" doping risk and requiring more stringent anti-doping measures.
The Indian government has mandated that banks and payment providers cannot levy charges on UPI transactions up to Rs 2,000 or on payments made via RuPay debit cards. This directive follows an amendment to the Payment and Settlement Systems Act, 2007, aiming to sustain and expand the digital payments ecosystem.
The question for the next 20 years is not whether India can become a $5 trillion or $10 trillion economy. Those are attractive targets, but the real question is whether India can create enough productive jobs, educate its children properly, make its cities liveable, and give hundreds of millions of people a substantially better life, asserts Ramesh Menon.
India's total goods trade with BRICS nations more than doubled from FY21 to FY26, reaching USD 417.5 billion, but a significant surge in imports, particularly from China and Russia, has caused India's trade deficit with the bloc to more than triple, reaching USD 226.1 billion.
NPCI International Payments Ltd (NIPL) and Maldives Monetary Authority (MMA) have successfully integrated the Maldives' instant payment system 'Favara' with India's Unified Payments Interface (UPI). This enables real-time fund transfers from Maldives to UPI-enabled Indian bank accounts, marking a significant step in cross-border digital financial connectivity and bilateral economic cooperation.
In August, Hyundai recorded its highest ever domestic sales for the month with 54,396 units sold, marking a 23.6 per cent Y-o-Y increase. The Creta Electric currently anchors Hyundai's mass-market electric portfolio, while the Ioniq 5 caters to the premium end
SpaceX, led by Elon Musk, is establishing an in-house foundry in Bastrop, Texas, to produce high-spec gas turbine blades and vanes. This strategic move aims to alleviate a critical supply chain bottleneck hindering power generation for AI data centres in the US and accelerate natural gas turbine availability by up to 18 months. The facility will also leverage synergies with aerospace component manufacturing.
Apple's upcoming iPhone 18 lineup is set to cost 20 to 43 per cent more in India, primarily due to rising global memory component costs and a depreciating rupee, while the new foldable iPhone Duo will be priced between Rs 3 lakh and Rs 4.5 lakh, matching the cost of some hatchback cars.
J R D Tata, chairman of the Tata group from 1938 to 1991, said that whenever he had to make a difficult decision, he would ask himself, what will be good for India, and what will be good for the Tatas. If he had a doubt, he would decide in favour of India. In the long run, it would turn out well for the Tatas too, he said, points out Arun Maira.
Ahead of Xi Jinping's visit, National Security Advisor Ajit Doval and Chinese Foreign Minister Wang Yi held extensive talks in Beijing on August 25 on the boundary issue and reached an eight-point consensus.
Nepal has launched a diplomatic initiative to secure climate-related compensation from major greenhouse gas emitters, asserting that post-disaster assistance for recent deadly flash floods should be viewed as a moral and legal liability, not charity. Foreign Minister Shisir Khanal highlighted Nepal's disproportionate suffering from global warming despite negligible emissions, citing rapid glacier melt and extreme mountain disasters. The country has formally approached the Loss and Damage Fund board for urgent financial aid following a catastrophic flash flood in the Bhotekoshi river basin.
Economists widely anticipate the Reserve Bank of India's Monetary Policy Committee will increase the repo rate by 50 basis points, likely split between the October and December meetings, as retail inflation is projected to peak at 6.1 per cent in the third quarter, exceeding the RBI's tolerance limit.
At least four to five privately placed infrastructure investment trusts (Invits) are expected to transition to public listings by the end of the 2026-27 financial year, significantly increasing the number of publicly traded Invits to 12-14, according to N S Venkatesh, CEO of the Bharat Invits Association (BIA).
Telangana Chief Minister A Revanth Reddy's planned visit to the United States has been denied political clearance by the Ministry of External Affairs (MEA), citing non-conformity with laid down norms, forcing him to cancel the US leg of his 'TelanganaRising' delegation tour and return to Hyderabad earlier than planned.
Cricket Australia has announced that private investment will be introduced into the Big Bash League (BBL) from the 2027-28 season, beginning with the sale of the Melbourne Renegades T20 franchise, a move aimed at strengthening the league's long-term future and boosting finances.
India's Unified Payments Interface (UPI) recorded an unprecedented 24.51 billion transactions valued at Rs 29.8 lakh crore in August, largely propelled by the Raksha Bandhan festival. This surge marks a 22% annual increase in volume and 20% in value, highlighting the expanding reach and depth of the UPI ecosystem. Experts anticipate further growth during the upcoming festive season, while UPI's international acceptance now spans 11 countries.
The FCNR (B) stratagem relies on using public money to defend the rupee. The State subsidises foreign borrowing to attract dollars. This tool requires large-scale borrowing to make a material difference against a gross external flow of $11 billion a day. A commensurately large fiscal cost falls upon the exchequer. The ministry of finance will choose how much it is willing to spend in exchange for this round number, points out Ajay Shah.
The United States launched military action against two Iranian launch systems on Larak Island, prompting Iran to claim retaliation with ballistic missile launches targeting two US air bases in Jordan.
Indian all-rounder Deepti Sharma has become the leading wicket-taker in women's T20 Internationals, surpassing previous records with 171 wickets. She achieved this milestone in her 150th T20I match, demonstrating her consistent performance and dedication to the team.
If India does get $100 billion a year in FDI, it would be a game-changer in every possible way. FPIs would come rushing back, AI or no AI, points out Debashis Basu.
'The Chinese military cannot advance much in Ladakh, even if they want to.' 'Similarly, in Arunachal Pradesh, they can rename a village or two, intrude here or there, but cannot do much more realistically.'
'Across the entire value chain, we will be able to industrialise AI adoption, and that is the main purpose of the deal.'
Prime Minister Narendra Modi, addressing the SCO summit in Bishkek, called for a united front against terrorism and its financing, rejecting double standards. He emphasised resolving conflicts through dialogue and diplomacy, not battlefields. Modi also highlighted that connectivity projects must respect national sovereignty and territorial integrity, a veiled reference to China's Belt and Road Initiative. India's vision for SCO rests on security, connectivity, and opportunity.
'Every period of excessive optimism eventually gives way to a correction, while periods of extreme pessimism often create the best investment opportunities.'
Unified Payments Interface (UPI) transactions in India reached Rs 29.8 lakh crore in August, approaching record levels. Volume also hit a new high of 24.51 billion transactions, driven by festive activities like Raksha Bandhan. The digital payment system continues its rapid growth, expanding its global presence to 11 countries, with further growth anticipated during the upcoming festive season and new use cases like credit on UPI.
Donald Trump announced a landmark agreement with Venezuela, claiming it to be the 'biggest oil deal in world history'. The deal reportedly grants the US majority control over more than 65 billion barrels of Venezuela's proven crude oil reserves, aiming to double American oil reserves and lower domestic gasoline prices.
Non-resident Indians are increasingly investing in luxury homes in India, driven by geopolitical uncertainties, particularly the Iran war. This trend is observed across major cities like Mumbai, Bengaluru, and the National Capital Region, with developers noting a significant rise in NRI pre-sales. While some see it as a temporary shift, others believe India is becoming a stable, long-term investment destination for NRIs, especially those from West Asia.
In many ways, 17th century India occupied a position in the global economy comparable to that of the United States today. Just as millions of people now look towards America because of its economic opportunities, merchants, adventurers and trading companies once looked towards India.
India's foreign exchange reserves increased by USD 1.08 billion to USD 676.237 billion for the week ended July 17, primarily due to a significant rise in foreign currency assets, despite a drop in gold reserves.
'Improved law and order and transparent governance have helped change UP's investment image.'
The reforms, undertaken by the Department of Defence Production, remove stakeholder consultation for exports of non-lethal defence items to most destinations, while retaining safeguards for sensitive countries.
New York City Mayor Zohran Mamdani has voiced his opposition to the upcoming event at Madison Square Garden where RSS chief Mohan Bhagwat is scheduled to address the Indian diaspora. Mamdani, however, noted that the city might lack jurisdiction to cancel the private event, which has also drawn protests from various interfaith and civil rights organisations.
US President Donald Trump indicated that American military operations targeting Iran might not have concluded, while firmly rejecting immediate talks with Tehran. He asserted that Iran is facing severe military and economic difficulties and possesses limited capabilities, despite the reopening of the Strait of Hormuz.
The Hyderabad AI factory is being designed to run some of the world's largest and most sophisticated AI models, including trillion-parameter models and next-generation agentic AI applications.
NPCI International and Uzbekistan's NIPC have partnered to enable UPI payments across Uzbekistan, allowing Indian tourists, business travellers, and students to make instant merchant payments using the UZQR code. This agreement, approved by RBI and CBU, integrates UPI with Uzbekistan's national payment system, HUMO, facilitating direct P2M payments from Indian bank accounts and reducing reliance on foreign exchange or international cards.
The Wrestling Federation of India (WFI) has decided to send separate teams to the U23 Senior World Wrestling Championship and the Senior World Wrestling Championship due to the short interval between the two events, aiming to ensure optimal preparation and performance for Indian wrestlers.
Indian benchmark indices, Sensex and Nifty, closed flat on Friday, with elevated crude oil prices due to geopolitical uncertainties and a rebound in US Treasury yields making investors cautious and preventing a decisive market rally.
