Axis Bank MD & CEO Amitabh Chaudhry has cautioned that the surge in FCNR(B) deposits could lead to 'abnormal lending' as banks seek to deploy excess liquidity, while also hinting at a potential interest rate hike in the near future.
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."
Maharashtra Deputy Chief Minister Eknath Shinde has announced the suspension of Shiv Sena Palghar city president Rahul Gharat following an alleged assault on hospital staff, including a doctor, by party functionaries. The incident occurred at Relief Hospital in Palghar over a dispute concerning medical bills for Dahi Handi participants. Shinde condemned the violence, stating that such behaviour would not be tolerated and that grievances should be addressed through legal channels.
Pakistan's government is exploring measures, including potential smart lockdowns and austerity, to reduce petroleum consumption. This comes after recent fuel price hikes driven by rising global oil prices and West Asia tensions, which have also raised concerns about oil supply disruptions. The government is also implementing a fuel relief scheme and faces public pressure over the price increases.
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.
UNESCO has warned Pakistan that two historical sites within the Taxila World Heritage site could be placed on a "danger list" or even delisted if "unnecessary interventions" and "reconstructions" are not reversed. The UN cultural agency highlighted concerns about new masonry replacing ancient walls and increased wall heights, compromising the authenticity of the sites. Pakistani officials, however, maintain that the work constitutes conservation, not reconstruction.
Meta has agreed to report child safety-related matters, including child sexual abuse cases, to appropriate law enforcement agencies in India, government sources confirmed, emphasising that online safety for children is a "non-negotiable" fundamental principle for social media platforms operating in the country.
India has once again raised alarms over the escalation in the security situation in the Red Sea area and strongly condemned Houthi strikes targeting Saudi Arabian territory, "including on civilians and economic assets."
Law And Order not only delivers an outdated and amateurish gangster drama, but also manages to drag Mammootty's iconic Black character into the mess.
'The valley is around 16 km from the Nepal border, and it took just 8-10 minutes for the ice and rocks to reach the Nepal border. You can imagine how fast it must have travelled!'
Delhi is experiencing heavy rainfall and strong winds, prompting the India Meteorological Department (IMD) to issue a red alert, which is impacting ongoing preparations for the crucial BRICS Summit.
The water levels in the Bhotekoshi River rose again on Sunday, days after a devastating flash flood struck Nepal, authorities warned, urging residents and rescue personnel in flood-hit districts to remain alert.
Jamia Millia Islamia has established a four-member fact-finding committee to investigate CCTV footage allegedly showing a chameleon in a student's meal at a hostel mess. This comes amidst ongoing student protests regarding food quality and hygiene. The university is also seeking external agency assistance and will take action if deliberate wrongdoing or misinformation is found, while also installing more CCTV cameras to enhance monitoring.
A report by Scholars at Risk, 'Free to Think 2026', states that academic freedom in India is "severely restricted" due to increasing government influence over higher education, university governance, and curbs on student expression. India is listed among six countries in this category, with its Academic Freedom Index score sharply declining. The report cites instances of faculty dismissals, event cancellations, and pressure on student protests, highlighting the alleged use of the UGC as a vehicle for state influence.
Government sources state that Meta, due to its algorithmic amplification of content, can no longer be considered a "simple intermediary" but rather a "service provider," implying greater responsibility and potential loss of legal immunity. This shift comes as Meta commits to directly reporting child abuse content to Indian law enforcement, amidst increasing government scrutiny over harmful online content and algorithmic bias.
The Olympic Council of Asia (OCA) has implemented a stringent Safeguarding Code of Conduct for athletes and officials participating in the Asian Games in Aichi-Nagoya, Japan. The code prohibits inappropriate relationships, degrading language, and harassment, with violations leading to severe penalties including suspension. It also addresses social media use and places special emphasis on protecting minor athletes.
The death toll from devastating flash floods in central Nepal has tragically risen to 675, with over 2,400 people still unaccounted for as extensive search and rescue operations continue across eight affected districts.
The Allahabad High Court has strongly criticised the Uttar Pradesh government for the alleged misuse of the Goonda Act, stating it appears to be used as a tool of harassment. The court emphasised that the stringent law must be invoked with caution and only in clear cases to maintain public order, while quashing an order that declared a person a "goonda" based on acquitted cases and beat information reports.
Indian benchmark indices Sensex and Nifty experienced significant declines in early trade, driven by soaring crude oil prices amidst escalating tensions in West Asia, coupled with weak global market trends and foreign fund outflows.
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.
The captain of the Pakistani naval ship was overconfident, reckless and professionally incompetent. He displayed false bravado and by his actions would have caused grievous injuries to his men onboard and severely damaged the ship. On the other hand the captain of INS Kolkata maintained his cool, composure, displayed excellent seamanship skills and maintained his course and speed to avoid a major catastrophe. Comparison of the two captains shows the levels in professional competence of the two navies which are miles apart, points out Commodore Venugopal Menon (retd).
The Indian government has introduced a 0.4% fee on UPI transactions above Rs 2,000 for merchants, effective October 15, sparking strong opposition from political parties and traders. Despite accusations of foreign influence and demands for a rollback, the finance ministry and top functionaries have stated there will be no reversal, citing the need for a self-sustaining digital payments ecosystem.
A cyberattack on an automaker can spread through its wider supply chain and create significant financial losses.
Denied permission for his hunger strike in Mumbai, Maratha quota activist Manoj Jarange on Monday announced he would head to the Maharashtra capital alone on September 15 to stage a protest at Azad Maidan.
The opposition has intensified its criticism of the government's decision to impose a 0.4 per cent Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000, effective October 15. Leaders like Rahul Gandhi and Jairam Ramesh allege the move is a result of US pressure, particularly from American card companies, and demand an immediate rollback, warning of increased costs for consumers.
Pakistan's chief selector Samiullah Khan believes a draw against arch-rivals India will be crucial for the national hockey team to advance past the group stage in the upcoming World Cup in Belgium and the Netherlands. Pakistan, participating after an eight-year hiatus, has announced a 20-member squad, with foreign coaches assisting the team.
The Bombay High Court severely criticised the Maharashtra FDA for its "undue haste" and "high-handed" actions, forcing the regulator to withdraw orders against Cipla Pharma and five restaurants at the Mumbai Cricket Association premises. The court admonished the FDA for violating principles of natural justice and taking a "pedantic instead of pragmatic view," even threatening contempt action against officials.
Their message is blunt: Public scientific wealth should not be transferred at what they describe as 'throwaway prices'.capability, recruitment, promotional avenues and the voice of its employees.
Activist Manoj Jarange announced an indefinite hunger strike in Mumbai from September 19 for Maratha reservation in jobs and education. He will lead a march from September 15, covering various districts before reaching Azad Maidan. Jarange urged peaceful protest and accused the government of inaction on caste certificates, while the Bombay High Court upheld the right to protest. The core demand is for Marathas to be included in the OBC category via Kunbi records, a move opposed by existing OBC groups.
Following devastating flash floods in Nepal, experts are calling for systematic scientific assessments of glaciers to understand and mitigate hazards, alongside the development of a robust land use policy for the Himalayan region. The floods, which killed over 460 people and left thousands missing, are believed to be linked to climate change impacts on glaciers and permafrost.
TRAI Chairman Anil Kumar Lahoti has called for robust safeguards, human oversight, and intervention capabilities as Artificial Intelligence becomes increasingly integrated into telecom networks. While acknowledging AI's potential to transform network management and threat detection, Lahoti stressed the need for responsible AI deployment, risk assessments, and clear accountability to ensure consumer trust and prevent misuse, especially in combating online fraud.
A devastating fire on a foreign-flagged cargo ship undergoing repairs at the Qingdao Beihai shipyard in eastern China has resulted in 20 fatalities. Chinese President Xi Jinping and Premier Li Qiang have issued directives for intensified search and rescue operations, thorough investigations into the cause, and enhanced safety measures across all sectors to prevent future accidents.
Iranian President Masoud Pezeshkian urged BRICS nations to expand trade in national currencies and build an inclusive global economic framework. He criticised "unilateral sanctions" by Western powers, stating they make emerging economies vulnerable and impact global food security. Pezeshkian emphasised BRICS' role in creating a balanced world order and highlighted Iran's geopolitical and energy capacities for cooperation.
The Congress party has criticised the government's new 0.4% charge on UPI transactions above Rs 2,000 for merchants, terming it a "Modi tax". Opposition leaders, including Rahul Gandhi and Mallikarjun Kharge, allege that this move will ultimately burden consumers through price hikes and accuse the government of succumbing to American pressure to dilute India's zero-MDR policy. The government states the charge will support banks and fintechs.
Families of students killed or injured in a paying guest accommodation collapse in Delhi's Satya Niketan are returning home shattered, questioning the city's safety and warning others against sending their children to the national capital for education.
Manipur Chief Minister Y Khemchand Singh has issued a 15-day ultimatum for the voluntary surrender of illegal firearms, warning of strict legal action against non-compliance. The appeal comes as part of ongoing efforts to restore normalcy and peace in the state, which has been affected by ethnic violence since May 2023. Security forces have already seized a significant cache of weapons, and the government is also targeting extortionists and miscreants.
Generative artificial intelligence (AI) is beginning to alter hiring patterns in South Asia, with multinational companies (MNCs) and firms integrated into global value chains (GVCs) reducing recruitment more sharply than domestic firms, signalling the technology's early impact on the region's export-oriented services sector, according to the World Bank's World Development Report 2026.
The Meghalaya high court has strongly criticised authorities for the continued imprisonment of a Bangladeshi national for nearly a year after he completed his six-month sentence, warning that such detention could be deemed illegal confinement and lead to compensation.
The Congress party has criticised the government's recent notification regarding UPI transactions, alleging it paves the way for users to be charged fees, particularly for transactions above Rs 2,000. The party claims the government lacks transparency and questions if the move is to benefit American firms. The government, however, states that charges are necessary for the system's sustainability and infrastructure upgrades, with the Finance Minister clarifying that Merchant Discount Rate (MDR) applies to merchants, not customers.
Tiger Woods agreed to a five-year driving licence suspension in an impaired-driving plea deal, with the judge warning that any violation could result in immediate imprisonment.
