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.
The Indian government has introduced a 0.4 per cent Merchant Discount Rate (MDR) on UPI payments exceeding Rs 2,000 made to merchants, effective from October 15, with a comprehensive framework set to take full effect by October 15, 2026. This policy aims to regulate transaction fees while protecting small merchants and person-to-person transactions.
Shares of HDFC Bank rose nearly 3 per cent after its Managing Director and Chief Executive Sashidhar Jagdishan decided not to seek reappointment after his current term concludes on October 26.
If that name means nothing to you, you're not alone. It meant nothing to most people we met that day either. Including, as it turned out, some of them standing right next to his tomb.
Nepal's Hindu groups have sought an all-party discussion on restoring Hindu-nation status within three months.
The Finance Ministry has refuted allegations that US pressure influenced the decision to levy a 0.4 per cent Merchant Discount Rate (MDR) on select UPI payments. The ministry clarified that the NPCI guidelines prioritise RuPay credit cards on UPI to promote domestic alternatives and ensure a self-sustaining revenue model for smaller domestic companies, countering claims of favouring foreign payment providers.
Cook up a Raksha Bandhan meal for your sis. Head into the kitchen and surprise her with a meal that will make her real khush.
'Ultimately, banks are a channel for people to get some long-term return, and this means banks need to adjust their asset-liability mismatch.' 'Customers also need long-term deposits, say those of three-five years. How would they get them if returns on those deposits do not climb?' 'Otherwise, on fixed deposits, a senior citizen doesn't get anything.'
Sashidhar Jagdishan, the managing director and CEO of HDFC Bank, has announced his decision not to seek reappointment and will retire at the end of his current term on October 26, concluding a six-year tenure marked by significant regulatory and governance challenges, including RBI restrictions, a major merger, and scrutiny over alleged illegal payments.
Sashidhar Jagdishan, the managing director and chief executive of HDFC Bank, has opted out of being considered for reappointment after his current term ends on October 26, choosing to retire after nearly three decades with the lender.
'Once you're wrestling with making a merger of that scale value-accretive, you're also under pressure to keep growing the balance sheet and chasing liabilities, and other things start to slip as a consequence.'
A think tank, GTRI, has urged India to resist US pressure regarding its UPI policies, advocating for competition, policy autonomy, and a sustainable payments ecosystem. This comes as the Lok Sabha passed a bill allowing charges on UPI, and the US has criticised India's digital payment systems, raising concerns about the future of India's digital payment landscape.
Construction of the approved reactor projects is expected to take five to six years after receiving financial approval.
US Federal Reserve Chairman Kevin Warsh has picked former RBI governor Raghuram Rajan, Harvard University economics Professor Raj Chetty and Microsoft XBOX CEO Asha Sharma to be part of task forces constituted to examine the central bank's approach to monetary policy and propose transformational changes.
HDFC Bank's board has imposed a monetary penalty of Rs 1 lakh each on its Managing Director and CEO Sashidhar Jagdishan, CFO Srinivasan Vaidyanathan, and Group Head (Retail Assets) Arvind Vohra for divergence from RBI directions in the Maharashtra State Road Development Corporation (MSRDC) case.
The incident involved compromise of an employee's email account, resulting in unauthorised access to certain data.
The vaccine has been cleared for use in individuals aged 4 to 60 years and can be administered irrespective of whether the taker has had dengue before, eliminating the need for pre-vaccination screening.
A new study reveals that despite China's significant control over global rare earth mining and processing, its dominance has a critical weakness: the US and Japan hold the majority of core patents for advanced rare earth functional material technologies. This technological gap means China lags in higher-value applications, impacting its strategic advantage in the industry.
'If planets are, as many of your own geophysicists argue, bodies shaped by their own gravity and expressing internal processes, then by that measure, I am not an exception.'
Doctors in Ghaziabad successfully performed reconstructive surgery on an 11-year-old girl who survived a rare cervical cancer, creating a new cervix and vagina to restore bodily function and improve her quality of life.
An independent think tank on policing has called for a multi-agency investigation into the recent unearthing of a spurious Mounjaro (tirzepatide) injection manufacturing racket in Gurugram, offering free-of-cost forensic expertise.
The multi-generational ensemble of world-class musicians dedicated to the masterful compositions and enduring legacy of the legendary sitar-musician.
These offers provide some relief to engineering students impacted by the uptake in artificial intelligence (AI) tools.
Recipes that we learned from our Mothers are almost sacred for us, especially when we no longer have them with us anymore. Here are 14 wonderful Mummy recipes Our Mummies often don't write their recipes down but every time our Ammas make a particular dish, it's more spectacular than the last time they made it! Without doubt, right? We were fortunate to get a few of our Ammis to jot down how she made a certain oh-so-yummy preparation
A 38-year-old man in Ballia, Uttar Pradesh, has been arrested for allegedly committing an unnatural act with his 12-year-old nephew. The arrest follows a complaint filed by the boy's father, leading to a case registered under the POCSO Act.
Apples have so many uses in cooking, from being the star of a dessert to making for inventive snacks or even a warming drink.
Analysts have largely maintained a bullish outlook on HDFC Bank and ICICI Bank following their Q4FY26 results, though their perspectives on future growth drivers differ. HDFC Bank's near-term performance is tied to accelerating loan growth, while ICICI Bank is seen as a strong candidate for a valuation rerating.
The East India Company, revived by Indian businessman Sanjiv Mehta in 2010, has ceased operations and entered liquidation, marking the end of its modern incarnation.
A passenger on an Akasa Air flight from Delhi to Goa was arrested for allegedly smoking a 'beedi' in the lavatory and possessing a lighter, endangering the safety of the flight.
HDFC Bank is engaging external legal firms, both domestic and international, to investigate the circumstances surrounding former part-time chairman Atanu Chakraborty's resignation.
Governance uncertainty and leadership visibility gap are likely to keep the stock under pressure in the near term, said Nomura in a report.
The Financial Times, citing multiple bankers and shareholders, reports that the real tensions ran far deeper than compliance concerns.
Karan Fries is a synthetic cow breed developed by the National Dairy Research Institute, Karnal.
Loktak Lake--Manipur's Floating Wonderland hidden in the heart of Manipur lies Loktak Lake, a place where islands float, and nature tells its own quiet story.
While the introduction of branded generics is likely to accelerate volumes for GLP-1 agonists, value growth may moderate because of price erosion.
From coastal rasois to hill homes, festive dishes are usually special to a family and so are the grand meals that families gather for and sit down to eat either on Christmas Eve or on Christmas Day.
'When there is such an elaborate and a strong process, one would have expected anyone to either place the issues so that they can be addressed or go to the regulator and probably tell them rather than creating a kind of uncertainty for the stakeholders.
This weekend, Donald Trump has begun to say the quiet part out loud -- that he wants to take control of Iran's oil, a formulation more in line with his robber-baron style of international relations.
Egypt, Pakistan, Saudi Arabia and Turkey met in Islamabad in what analysts say is the formal opening of a new diplomatic formation that could reshape the post-war regional order. Their immediate goal is a ceasefire; their larger ambition is to ensure that neither Iran nor Israel emerges from this war in a dominant position. Pakistan's foreign minister then flew directly to Beijing and mooted a Chinese role as guarantor of any eventual agreement. Prem Panicker continues his must read daily blog on the Gulf War.
The LPG squeeze on India's restaurant sector is the quotidian face of a deeper crisis.
