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.
Tata Trusts, the majority shareholders of Tata Sons, have proposed merging two operating companies, Tata Electronics Systems Solutions Pvt Ltd (TESS) and Tata Consulting Engineers (TCE), with Tata Sons. This restructuring aims to shed Tata Sons' classification as a non-banking financial company (NBFC) and a core investment company (CIC), thereby allowing it to retain its status as an unlisted private company and resolve ongoing disputes regarding its future ownership.
FIFA President Gianni Infantino has proposed an independent review of the world football body's decision-making framework.
An 18-year-old female student was stabbed and injured in a government college in Barwani, Madhya Pradesh, after she rejected a marriage proposal from a fellow student. The accused, Ganesh Thakur, first attempted to shoot her with a country-made pistol, which misfired, before attacking her with a knife. He has been arrested by the police.
Noel Tata, chairman of Tata Trusts, has presented a proposal for the Shapoorji Pallonji (SP) group to sell its 18.37 per cent stake in Tata Sons for approximately 25,000 crore, aiming to address the SP group's liquidity needs without a public listing of Tata Sons.
The Reserve Bank of India (RBI) has proposed a standard operating procedure (SOP) for banks to implement temporary debit holds on accounts or transactions suspected of being involved in money-mule activity and cyber-enabled financial fraud, with a maximum duration of 60 days.
SEBI Chairman Tuhin Kanta Pandey stated that the National Stock Exchange (NSE) has not submitted any proposal seeking approval to trade on its own platform after getting listed, and such trading is currently not permitted. He also confirmed that SEBI would examine concerns raised by brokers and asset management companies regarding the new UPI Merchant Discount Rate (MDR) framework.
BJD MP Santrupt Misra has voiced strong concerns over the Centre's decision to impose a 0.4 per cent Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000, arguing that the government or large financial institutions could easily absorb the costs of maintaining the digital payment network instead of burdening merchants and consumers.
If there's one outfit that deserves as much thought as the ring itself, it's the one you get proposed in. Jiya Shankar recently got engaged to businessman Kaaran Dhanak, and her dreamy dress instantly became proposal-style inspiration.
HDFC Bank has submitted two names to the Reserve Bank of India for the managing director and chief executive position, following incumbent Sashidhar Jagdishan's decision not to seek reappointment. The bank also announced board changes, increasing whole-time directors to four and appointing Jimmy Tata as an executive director. This move comes as Jagdishan's term ends in October, creating a tight timeline for succession.
The CPI(M) has strongly opposed the Union government's proposal to levy charges on UPI transactions, calling it a "breach of public trust" and demanding the immediate withdrawal of the legislation. The party highlighted that the government had previously promoted UPI as a free public utility, encouraging widespread adoption, and now seeks to monetise this infrastructure. They also linked this move to a broader trend of increasing banking charges.
Court-appointed administrator Justice Gita Mittal has proposed extensive constitutional amendments for the All India Tennis Association (AITA). These reforms aim to align AITA with the National Sports Governance Act, 2025, by significantly increasing athlete representation in decision-making bodies, downsizing the Executive Committee, and establishing independent ethics and dispute resolution committees. The changes, which include inducting Sportspersons of Outstanding Merit into key committees and reducing state association representation, await approval at an upcoming Extraordinary General Meeting.
US President Donald Trump has shared a map on Truth Social showing the Strait of Hormuz labelled as "Trump Strait".
Police in Ujjain, Madhya Pradesh, used tear gas to disperse protesters demonstrating against the proposed demolition of a portion of the Shahi Masjid for a road-widening project. The project is aimed at easing pilgrim movement for Simhastha Kumbh 2028, and despite initial protests, local authorities and the city Qazi claim the issue was resolved through mutual consent, with the Chief Minister also setting an example by demolishing part of his ancestral home.
Germany, Netherlands, Sweden and Wales have questioned Infantino's reform pledge, arguing that FIFA needs deeper governance changes, stronger accountability and broader leadership reforms to restore trust.
Indian benchmark indices Sensex and Nifty experienced a significant downturn in early trade, with the Sensex tanking 730 points, driven by surging crude oil prices, escalating geopolitical uncertainties, and a weak trend observed across Asian markets.
The Madhya Pradesh High Court has disposed of writ appeals concerning the partial demolition of Ujjain's Shahi Masjid for road widening ahead of Simhastha Kumbh Mela 2028, following an agreement between the Muslim side and the Ujjain Municipal Corporation. The agreement involves removing a smaller portion of the mosque than initially planned, relocating its minaret, and providing alternative shops. This resolution comes after earlier protests and arrests.
The US rejected Iran's proposal to reopen the Strait of Hormuz, citing Tehran's demands for sanctions relief and access to frozen assets before nuclear program negotiations. US Ambassador Mike Waltz called the offer a "cynical attempt," while Iranian Foreign Minister Seyyed Abbas Araghchi disputed Waltz's account and reiterated Iran's readiness for both diplomacy and renewed hostilities. President Trump expressed confidence in winning the conflict soon and keeping all options, including military strikes, on the table, with denying Iran a nuclear weapon as the primary objective.
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.
Bank unions have deferred a three-day nationwide strike after receiving assurances from the Indian Banks' Association (IBA) regarding their demands, including the implementation of a five-day work week and modifications to the PLI scheme for senior officers.
Chief Justice of India Surya Kant affirmed the judiciary's commitment to protecting students' right to peaceful protest during an interaction at CNLU Patna. He also addressed concerns about collegium transparency, stating that disclosure of dissenting opinions could compromise individual dignity. The CJI also praised a proposal to shorten the law degree duration.
The Karnataka Assembly has passed a resolution rejecting the K Kasturirangan report on Western Ghats conservation in its current form. The state government urged the Centre to address deficiencies, particularly concerning the inclusion of agricultural lands and human settlements in Environmentally Sensitive Areas (ESA) without proper physical surveys or livelihood support.
NPCI chief Dilip Asbe stated that only about 10 per cent of the total value of UPI transactions might see charges passed to consumers under the merchant discount rate (MDR). He clarified that large corporates are expected to absorb most costs, and a significant portion of transactions will remain charge-free. A new fund from MDR collection is also proposed to boost UPI acceptance among small merchants.
NPCI chief Dilip Asbe stated that only about 10% of UPI transaction value might see charges passed to consumers, primarily from large corporates already absorbing credit card fees. He highlighted that 80% of Merchant Discount Rate (MDR) would come from businesses with over Rs 1,000 crore turnover, and a significant portion of transactions will remain charge-free. A new fund, potentially Rs 3,000 crore, will also be created from MDR collection to support small merchants and accelerate UPI acceptance.
President Droupadi Murmu has returned the West Bengal government's proposed anti-goonda bill for reconsideration. The objection stems from a provision in the bill that may overlap with a central anti-narcotics law, specifically concerning offences under the NDPS Act, 1985, and the PITNDPS Act, 1988. This raises concerns about potential duplication and repugnancy under Article 254 of the Constitution.
SBSP chief Om Prakash Rajbhar has revived the long-standing discussion about dividing Uttar Pradesh, claiming Prime Minister Narendra Modi assured him the state could be split into four parts after a caste census. Rajbhar's statement, made at a rally in Deoria, links the division to the 27% reservation issue and suggests a Rajbhar could become chief minister of a new Purvanchal state. The demand for UP's division has historical precedents, notably from former Chief Minister Mayawati.
Fuel pump dealers in Madhya Pradesh plan to stop accepting UPI payments exceeding Rs 2,000 for petrol and diesel from October 16, citing concerns over the proposed Merchant Discount Rate (MDR). The Confederation of All India Traders (CAIT) has urged the government to reconsider the MDR imposition, warning it could hinder digital payment adoption and impact traders' profits.
Megastar Amitabh Bachchan has submitted plans to the Ayodhya Development Authority for a dharamshala named after his father, Harivansh Rai Bachchan. The facility, expected to have over 20 rooms, aims to provide accommodation for devotees visiting Ayodhya. The proposal is currently undergoing public review before final approval.
Italian Prime Minister Giorgia Meloni has announced a series of significant educational reforms, including a proposed ban on face coverings like burqas and niqabs in schools, a legal cap on the number of foreign students per classroom, and a requirement for parents of foreign students with integration issues to learn Italian. Meloni stated these measures aim to ensure immigrants learn Italian language and culture, and respect national rules, emphasising gender equality as non-negotiable. Additionally, she revealed plans to scrap the multiple-choice entrance test for medical school admissions.
The portfolio could be split between listed and unlisted investments, or structured along sectoral lines.
Indian stock markets experienced a significant downturn, with the Sensex plunging 1,124 points to a six-month low and the Nifty closing below 22,800, driven by surging crude oil prices, escalating geopolitical uncertainties, and weak global market trends.
The Central Board of Film Certification (CBFC) flagged the proposed screening of an uncertified documentary on jailed activist Umar Khalid at IIIT-Hyderabad, citing violations of the Cinematograph Act. IIIT-Hyderabad subsequently distanced itself from the event, stating no recognised student bodies had organised it. The screening, titled "Prisoner No. 626710 is Present," was reportedly cancelled by students, following a similar postponement at NLSIU Bengaluru due to opposition.
The Supreme Court has proposed establishing special courts for day-to-day trials in criminal cases stemming from the 2023 Manipur ethnic violence. The court also directed probe agencies to expedite investigations, ensure victims receive chargesheet copies, and asked for status reports on missing persons and ongoing cases.
Market experts have largely supported Sebi's proposed changes to the expiry-day trading framework, including delinking derivatives settlement prices from cash-market closing prices and discontinuing live indicative index values during the Closing Auction Session (CAS), believing these will address volatility and manipulation.
Finance Minister Nirmala Sitharaman clarified that the proposed Merchant Discount Rate (MDR) on select high-value UPI transactions is not a tax or cess, and its collections will not go to the government. She explained that MDR is a charge within the digital payments ecosystem, shared among participants to maintain infrastructure, and will not be passed on to consumers. The NPCI's new framework, effective October 15, applies a 0.4% MDR on person-to-merchant UPI transactions above Rs 2,000, with most transactions remaining free and small merchants exempt.
IIIT-Hyderabad has issued disciplinary warnings to eight students associated with 'No Tyrants, No Silence' (NTNS), an independent campus platform. The institute cited unauthorised use of its name and publication of confidential meeting minutes. NTNS, which discusses caste, merit, and politics, had proposed screening a documentary on Umar Khalid, leading to CBFC objections and the screening's cancellation.
Within days of the RBI's letter to Tata Sons that its CIC deregistration application had been rejected, the regulator filed a caveat in the Bombay High Court so that it could be heard before any order is passed on the matter in case there's a petition challenging its listing directive.
A proposed deal between Iran and Oman could grant Tehran control over vessels entering the Gulf through the Strait of Hormuz, according to a senior Iranian source and two regional officials who spoke to Reuters on Wednesday, in what represents one of the most significant concessions made to Iran to date.
The RSS-affiliated Bharatiya Kisan Sangh (BKS) is set to host its inaugural women's conclave in New Delhi, aiming to advocate for increased representation of women farmers in agricultural policymaking. The event will bring together 7,000 women farmers to discuss their significant contributions to farming, livestock, and fisheries, and to push for policy changes, including a shift from MSP to MRP for produce.
India's Monsoon session of Parliament remains formally unprorogued 40 days after adjournment, setting a new record. This unusual delay fuels speculation that the government intends to introduce a key legislation, possibly an amendment to the women's reservation law, without convening a new session. The proposed amendment aims for a 50 per cent seat expansion to address concerns over delimitation.
