EaseMyTrip co-founder Nishant Pitti has been chargesheeted by the Enforcement Directorate in the Mahadev online betting app money laundering case. He is accused of facilitating illegal betting proceeds into the equity market via foreign portfolio investments, with his DEMAT shares worth Rs 59.60 crore provisionally attached. Pitti denies knowledge of the chargesheet and vows to cooperate, while the ED alleges his involvement in stock price manipulation and layering crime proceeds.
The Supreme Court has stayed an Allahabad High Court order that directed Gautam Buddh Nagar District Magistrate Medha Roopam to pay Rs 5 lakh compensation from her salary for the detention of student Akriti Chaudhary under the National Security Act (NSA). The High Court had quashed Chaudhary's detention, criticising the DM's conduct and ordering compensation. The Supreme Court issued notice on pleas from Roopam and the Uttar Pradesh government, also staying the High Court's observations against the DM, with further hearing scheduled for October 7.
A man accused of raping a six-year-old girl was arrested in Sitapur, Uttar Pradesh, following an exchange of fire with police. The accused, Avdhram alias Bhole Shankar, sustained a gunshot injury and was apprehended. Police recovered a country-made pistol and cartridges, and a reward was announced for the arresting team.
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.
Six companies, including Blackstone-backed Horizon Industrial Parks and Lalithaa Jewellery Mart, are poised to collectively raise nearly Rs 5,600 crore through initial public offerings (IPOs) in the upcoming week, adding to the bustling primary market activity.
BJD chief Naveen Patnaik has voiced concerns over the Centre's decision to introduce Merchant Discount Rate (MDR) charges on UPI transactions above Rs 2,000 from October 15, urging protection for small traders and common people. This move has sparked a political debate, with the BJP defending the charges as beneficial for digital infrastructure and largely not impacting consumers, while the Congress and traders' associations criticise it as an additional burden.
'UPI has been free since Covid, so why is the government charging us now?'
Police in Shopian, Jammu and Kashmir, have attached a residential house and seized cash, collectively valued at over Rs 21 lakh, allegedly acquired through the illegal trade of drugs and narcotics. The action was taken under the NDPS Act against an individual named Farooq Ahmad Shah.
Foreign Portfolio Investors (FPIs) have injected Rs 16,621 crore into Indian equities during the first half of August, continuing a buying spree driven by improving relative valuations, resilient corporate earnings, and expectations of softer US interest rates.
Shailesh Chandra, MD and CEO of Tata Motors Passenger Vehicles (TMPV), stated that the uncertainty surrounding how long commodity costs will remain elevated is a greater concern for the company than the actual price increases. He noted that commodity prices have risen significantly over the past five to six months, impacting margins and necessitating faster cost-reduction efforts, though no major production or supply-side issues are currently foreseen.
Jindal Supreme (India) Ltd's initial public offering, a manufacturer of plastic piping solutions, was subscribed an astounding 181.07 times on its final day, reflecting robust investor demand across all categories.
A new Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000, effective October 15, could force small merchants and price-sensitive consumers to revert to cash, according to economic think tank GTRI. The move, which introduces a 0.4 per cent MDR with a Rs 300 cap and concessional rates for specific categories, is questioned by GTRI founder Ajay Srivastava, who suggests it's not a revenue issue for the government but potentially a response to US pressure regarding UPI and RuPay's preferential market position.
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.
The initial public offering (IPO) of auto components maker Hero Motors Ltd was fully subscribed on its first day of bidding, receiving bids for 1.38 times the shares on offer, with strong interest from retail investors.
RBI Deputy Governor S C Murmu stated that the introduction of merchant discount rate (MDR) on UPI transactions is unlikely to cause a shift back to cash, despite some concerns, emphasising that MDR will help the payments ecosystem recover costs.
Bollywood's leading ladies are setting a dazzling trend, showcasing how oversized and dramatic earrings can transform any outfit into a show-stopping fashion statement.
A Delhi court has sentenced three men, Sahil alias Ishmile, Mohit, and Vishal alias Vicky, to six years of rigorous imprisonment and a fine of Rs 10,000 each for the attempted murder of a youth in Badarpur in 2019. The court found them guilty under Section 307 and 34 of the Indian Penal Code, noting their common intention in the stabbing incident where the victim, Mukul, sustained life-threatening injuries.
Assam Chief Minister Himanta Biswa Sarma launched the North East Seva Innovation Challenge (NESFIC), envisioning the region as India's 'living laboratory' for technology and problem-solving. The initiative aims to empower young innovators to address real-world challenges faced by government, industries, and citizens, with a focus on practical implementation and government procurement.
A 23-year-old woman, Neha, who went missing from her home in Kasganj, Uttar Pradesh, was found dead with her throat slit near a railway crossing. Her family alleges she sedated her sister and took Rs 3 lakh cash and jewellery before disappearing. Police are investigating, detaining suspects, examining her phone, and reviewing CCTV footage.
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.
Khalin Joshi maintained a three-shot lead after the third round of the Bengaluru Open, despite a challenging day. Manu Gandas shot the lowest score of the day, an eight-under 64, to move into second place and reduce Joshi's advantage. The tournament is heading into its final round with a prize purse of Rs 1 crore.
A national shotgun coach, involved in India's Asian Games preparations, is under scrutiny by the Sports Authority of India (SAI) for alleged conflict of interest. The complaint, filed by an unsuccessful bidder, concerns the coach reportedly seeking a contract to build a shooting range in Chennai. This probe could impact the coach's participation in the upcoming Asian Games, while the NRAI states it has no knowledge of such activities.
Samajwadi Party president Akhilesh Yadav has criticised the BJP government's proposed Merchant Discount Rate (MDR) on high-value UPI transactions, calling it a "chungi" (tax) on digital payments. He alleged the move was an attempt to extract money from people's transactions, contradicting the government's goal of a trillion-dollar economy. The new UPI framework will impose a 0.4% MDR on person-to-merchant transactions above Rs 2,000 from October 15, with certain sectors having a flat Rs 5 MDR.
Apple's latest flagship smartphones, the iPhone 18 Pro and iPhone 18 Pro Max, have gone on sale across India, drawing massive queues and creating a 'festival' atmosphere among eager buyers at Apple Stores in Noida, Bengaluru, and Maharashtra.
The National Payments Corporation of India (NPCI) stated that the Merchant Discount Rate (MDR) "is distributed only amongst the UPI ecosystem, to further invest into infrastructure resilience, innovation, cybersecurity (protecting the UPI infrastructure with banks and non-banks) and customer service."
The government is introducing a 0.4% Merchant Discount Rate (MDR) on UPI person-to-merchant payments above Rs 2,000, effective October 15. This move ends the zero-MDR regime, aiming to fund UPI infrastructure and sustainability, as the previous government subsidy was insufficient to cover operational costs. Payments between individuals and most everyday merchant transactions will remain free.
Security forces in Arunachal Pradesh's Changlang district have seized 233 grams of suspected brown sugar, estimated to be worth Rs 46.60 lakh. Two individuals were arrested during the joint anti-narcotics operation conducted by Assam Rifles, Arunachal Pradesh Police, and CRPF. The contraband was found hidden in 21 soap cases.
A Delhi court has permitted seven foreign nationals, including American mercenary Matthew Aaron Van Dyke and six Ukrainians, arrested in an alleged drone-warfare training camp case probed by the NIA, to travel to their home countries for a month after being granted default bail.
The Indian government has introduced a 0.4 per cent charge on UPI payments exceeding Rs 2,000 made to merchants, with a cap of Rs 300 for transactions of Rs 75,000 and above. This policy shift ends the zero-MDR regime, which was previously criticised by financial institutions. While essential sectors and capital markets have specific fee structures, small merchants with monthly UPI QR code earnings up to Rs 1 lakh remain exempt. Person-to-person transfers are unaffected, and measures are in place to prevent merchants from passing these costs to customers.
A member of the National Traders' Welfare Board (NTWB) has urged the central government to withdraw its decision to impose a 0.4 per cent Merchant Discount Rate (MDR) on UPI transactions exceeding Rs 2,000, effective from October 15. He warned that the new charge, which will be borne by merchants, could negatively impact business growth and lead to higher prices, contradicting the government's 'ease of doing business' policy.
The Maharashtra Food and Drug Administration (FDA) has suspended the licences of popular Mumbai restaurant Cafe Mondegar and three other food establishments due to serious food safety and hygiene violations. This action is part of an intensified crackdown by the FDA, which also saw inspections of 38 establishments, seizure of substandard food products worth over Rs 15 lakh, and action against banned gutkha products totalling Rs 1.35 crore in seized goods and vehicles across Maharashtra.
The Indian government has introduced a 0.4% transaction fee on Unified Payments Interface (UPI) payments exceeding Rs 2,000 for merchants, effective October 15, marking the end of nearly six years of free service. Person-to-person transfers and small-value transactions below Rs 2,000 remain free. The new Merchant Discount Rate (MDR) is capped at Rs 300 for transactions above Rs 75,000, with differentiated rates for essential sectors and investments, and safeguards to prevent costs from being passed to consumers.
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 BJP has accused the Congress of spreading "fake news" regarding UPI transaction charges, asserting that the government has clarified that consumers will not be levied merchant discount rate (MDR) charges. This comes after the Congress criticised a government notification, alleging it paves the way for imposing fees on UPI transactions. The BJP has strongly refuted these claims, highlighting that most UPI transactions remain free and the government provides incentives to maintain a charge-free ecosystem for users.
Experts laud the decision to impose a 0.4 per cent Merchant Discount Rate (MDR) on UPI transactions exceeding Rs 2,000, effective October 15. This move, along with a dedicated fund for small merchants, is seen as crucial for creating a sustainable digital payments ecosystem, incentivising expansion in rural areas, and funding innovation while keeping most transactions free for users.
Industry body Assocham has welcomed the new UPI framework for large-value merchant transactions, effective October 15. This framework introduces a 0.4 per cent Merchant Discount Rate (MDR) on person-to-merchant UPI payments exceeding Rs 2,000, with a cap of Rs 300 for transactions over Rs 75,000. The move aims to enhance UPI sustainability, support innovation, and mitigate fraud, while protecting small merchants and ensuring most everyday transactions remain free.
If a bank sold the policy, complain to its grievance cell and, if necessary, escalate the complaint to the Reserve Bank of India Ombudsman.
The National Testing Agency (NTA) has debarred Aditya Motegaonkar, son of Shivraj Motegaonkar, an accused in the NEET-UG paper leak case, from appearing in the examination for two years. He is also ineligible for the NEET-UG 2027 exam. The CBI alleges his father paid Rs 5 lakh for chemistry questions, which Aditya reportedly received in coaching classes. Aditya denies any wrongdoing, questioning the withholding of his retest results.
The Finance Ministry has clarified that the decision to impose a 0.4% Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000 was made independently, refuting claims of foreign influence. The ministry stated the policy aims to build a self-sustaining digital payments ecosystem, with MDR funding infrastructure and supporting small merchants.
Gujarat CID has arrested Rafiqul Alam, the alleged 'mastermind' behind 1,090 cybercrimes totalling Rs 1,071.5 crore, who was found to have links with China-based criminals and converted illicit funds into cryptocurrencies.
