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.
The India U-20 men's football team has concluded its preparations for the AFC U20 Asian Cup China 2027 Qualifiers with an unbeaten run in four friendly matches, securing three wins and a draw without conceding any goals. The team is now heading to Uzbekistan for the crucial qualifiers, aiming for a strong performance.
'The biggest difference between our marriage and that of our parents' generation is not simply that times have changed. It is that modern marriages require two people to continuously understand, support and adapt to each other while navigating a much more demanding world,' says Rahul Kulkarni.
Indian sports pistol shooter Rahi Sarnobat discusses her challenging journey back to elite competition after battling a debilitating neuropathic pain syndrome. She shares how the illness forced her to redefine her training, mindset, and priorities, leading to a "second life" in the sport as she prepares for her fourth Asian Games.
Indian skipper Shubman Gill sustained an elbow injury during a net session after being hit by a Mohammad Siraj delivery, though he later returned to practice. Meanwhile, veterans Virat Kohli and Rohit Sharma also batted together. Separately, the West Indies cricket board announced a 25% reduction in retainer fees for players as part of a financial restructuring.
The Election Commission has clarified that its ECINet platform is decentralised, with statutory functions performed only by designated officials, not headquarters staff. This comes after concerns were raised about the centralisation of electoral roll databases. The EC also defended the legality of an additional declaration sought from new voters during the Special Intensive Revision, citing unanimous commission approval and a Supreme Court judgment.
Tamil Nadu Chief Minister C Joseph Vijay's fan event in London was cancelled by Metropolitan Police due to safety concerns, disappointing hundreds who had gathered. The CM is in the UK leading a delegation to attract investments, having already secured MoUs worth Rs 12,300 crore, aiming to create over 9,400 jobs and position Tamil Nadu as a manufacturing and technology hub.
Blue Machines AI has launched Floe, a context-aware language detection model designed for AI agents. Floe distinguishes between code-mixing and genuine language switches in multimodal interactions, supporting over 10 Indic languages with ultra-low latency. It aims to improve enterprise AI conversations by understanding user intent in multilingual settings.
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.
Trade and business associations across India are organising a 'No UPI Day' on October 2 to protest the upcoming 0.4 per cent merchant discount rate (MDR) on Unified Payments Interface (UPI) transactions exceeding 2,000, effective from October 15.
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.
Neetal Narang has been appointed as India's first Safeguarding Officer for the upcoming Asian Games, a role mandated by the Olympic Council of Asia.
India's sporting landscape is grappling with a pervasive age fraud issue, as evidenced by hundreds of disqualifications in recent championships. Experts highlight the systemic nature of the problem, driven by a chaotic birth registration system and the allure of early career advantages. While the BCCI has implemented bone density tests, limitations persist, prompting calls for stricter measures, including criminal deterrence and a comprehensive national database, to safeguard the integrity of youth sports.
Veteran goalkeeper PR Sreejesh states that the Indian hockey team has overcome its past late-game vulnerabilities against Pakistan, attributing this to significant improvements in fitness, game awareness, and decision-making. He notes that matches against Pakistan are no longer as challenging as they once were, though he stresses the need for defensive discipline against stronger European teams in the upcoming World Cup.
The NCP (SP) has demanded a complete rollback of the 0.4 per cent Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000, effective October 15. The party termed the move a "direct assault" on small traders and shopkeepers, accusing the Modi government of "double standards" by burdening small merchants while large industrialists benefit from loan write-offs.
75% of India's 60 million digital-payment merchants have never recorded a transaction above 2,000.
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.
The Sports Authority of India's National Centre of Excellence in Guwahati is hosting the Nepal boxing team for a high-performance training camp. This camp, running until September 15, provides Nepalese athletes access to India's elite sporting facilities and coaching ahead of the Asian Games, fostering stronger ties between the two nations.
India and China have agreed to advance discussions on an "Early and Substantial Harvest" of boundary delimitation and border management during the 25th round of Special Representatives talks between National Security Advisor Ajit Doval and Chinese Foreign Minister Wang Yi in Beijing. Both sides reached an eight-point consensus, committing to the 2005 Agreement on Political Parameters and Guiding Principles for Settlement. Key outcomes include enhancing border management, improving understanding of the Line of Actual Control, establishing new meeting points and hotlines, and continuing cooperation on trans-border rivers and pilgrimage.
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.
The Supreme Court has dismissed a Public Interest Litigation challenging the constitutional validity of the 2018 amendment to the Scheduled Castes and Scheduled Tribes (Prevention of Atrocities) Act. The amendment had restored restrictions on anticipatory bail and removed requirements for preliminary inquiry and prior approval before arrest. The court cited its 2020 verdict which had already upheld these amended provisions, rejecting arguments about potential misuse and "reverse discrimination."
India completed their 600th Test with a 165-run win over Sri Lanka. Here's how India evolved from early struggles into a modern Test cricket powerhouse.
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.
Zoho has launched Zia Chat, a unified AI interface designed to streamline business operations across various functions by providing a single conversational platform for information, lead generation, and data analysis. Concurrently, the company has expanded into vertical SaaS with seven new industry-specific applications for sectors like retail, automotive, healthcare, and education, reinforcing its position as a homegrown alternative to global tech giants.
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.
Homegrown software company Zoho has launched Zia Chat, a unified AI interface designed to streamline business operations across various functions. Alongside this, Zoho announced its entry into vertical SaaS with seven industry-specific applications for sectors like retail, automotive, healthcare, and education, reinforcing its position as a 'Swadeshi' alternative to global tech giants.
India's T20I skipper Shreyas Iyer expressed his excitement about participating in the Asian Games in Aichi-Nagoya, highlighting the opportunity to interact with top athletes and understand their mindset, while also focusing on the team's immediate T20I challenges.
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.
A senior Geological Survey of India official warns that the Himalayas are vulnerable to cascading disasters, where one high-altitude event can trigger a chain of destructive events downstream, as evidenced by Nepal's recent floods. He stresses the need for integrated monitoring using satellite data and ground investigations to identify high-risk areas and improve preparedness in the Indian Himalayas.
Gautam Gambhir builds a lot of trust and confidence within the team, and every player knows their role and has clarity, said Shreyas Iyer, praising his head coach's man-management skills.
The Supreme Court has indicated that individuals with a conscientious objection should not face criminal consequences for declining to sing Vande Mataram, while asking the Centre to consider a 1986 judgment protecting similar rights concerning the national anthem.
India's manufacturing sector growth decelerated to a five-year low of 52.8 in August, down from 53.5 in July, as output and new orders moderated due to softer demand conditions, according to the HSBC India Manufacturing Purchasing Managers' Index (PMI).
'Xi is conveying that China is a pre-eminent power, and India should modulate its actions or approaches accordingly.'
The Indian government has expanded its Nasha Mukt Bharat Abhiyaan by signing agreements with four spiritual organisations. These partnerships aim to enhance grassroots awareness, prevention, recovery, and social mobilisation efforts against substance abuse, leveraging the extensive reach of these groups.
While the iPhone Duo grabbed the spotlight at Apple's September event, the biggest takeaway is how the company's hardware, software and AI are becoming more closely connected across its entire lineup.
Indian football coach Khalid Jamil and goalkeeper Gurpreet Singh Sandhu view the upcoming FIFA international friendly against World Cup participant Panama as a crucial learning opportunity. They believe playing stronger teams is essential for India's development and ambition to become a world-class football nation, despite Panama's superior ranking and World Cup experience. The match is seen as a chance to understand the demands of top-tier football and integrate younger players into the squad.
If a bank sold the policy, complain to its grievance cell and, if necessary, escalate the complaint to the Reserve Bank of India Ombudsman.
Indian wrestler Antim Panghal, a two-time senior World medallist and U-20 world champion, expresses her ambition to create records that will never be broken. She reveals her motivation stems from her family and coaches, not personal glory, and discusses her evolving strategy and rigorous preparation for upcoming competitions.
Dig into the prospectus. Use the prospectus to understand the business and its risks.
Government sources clarify that the 0.4% merchant discount rate (MDR) on UPI transactions above Rs 2,000, effective October 15, will not be passed on to consumers. The charge, paid by merchants, aims to create a sustainable revenue framework for the digital payments ecosystem, with funds shared among banks and UPI entities. Small merchants using QR codes for up to Rs 1 lakh monthly are exempt.
