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.
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.
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.
'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.
Eight members of a right-wing organisation have been booked by Pune police for allegedly assaulting a man at Sinhagad Fort. The incident occurred after the group objected to the man's friend's young daughter wearing shorts, leading to a heated argument and subsequent assault. The group also reportedly engaged in moral policing with another couple.
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.
A collection of 688 autographed reflections by Mahatma Gandhi, compiled into 'A Thought for the Day', was sold for a record Rs 16.20 crore at a Saffronart auction, becoming the world's most expensive Indian historical document sold at auction.
'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.
At what age should society stop regulating life choices and allow people to make their own?
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.
A 12-year-old girl tragically died and three other students were hospitalised after a venomous krait snake bit them while they were sleeping in their hostel room at a private school in Jharkhand's Lohardaga district. The incident occurred on Tuesday night, and authorities are investigating how the snake entered the premises.
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.
How did hundreds of errors slip through multiple stages of drafting, editing, proofreading, expert review and final approval before making their way into classrooms?
'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.'
Madame Azurie was a highly popular dancer in early Indian cinema, starring in over 700 movies.
Rumours of music director Anirudh Ravichander and Sunrisers Hyderabad co-owner Kavya Maran tying the knot have resurfaced on the Internet, despite Anirudh's previous denial a year ago.
TVS Venu Group has agreed to acquire a minority stake of up to 9.9 per cent in Jana Small Finance Bank, including a 4.9 per cent ownership by TVS Motor Company, through a combination of primary issuance of warrants and a secondary purchase.
Maharashtra Cyber has registered a case against at least four editors of Wikipedia for not taking down 'objectionable' content on Chhatrapati Sambhaji Maharaj from the open source encyclopedia, officials said on Friday.
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 Maharashtra Cyber division has issued a notice to the Wikimedia Foundation, the organization behind Wikipedia, demanding the removal of "objectionable" content related to Chhatrapati Sambhaji Maharaj from the online encyclopedia. The notice, issued under the Information Technology Act, claims the content is inaccurate and lacks proper references, potentially inciting communal hatred. The move follows recent claims by various organizations about the existence of defamatory information regarding Sambhaji Maharaj on Wikipedia, particularly in the wake of the Hindi film "Chhava", based on his life. The Maharashtra Cyber has directed the Wikimedia Foundation to remove the content promptly and prevent its re-uploading.
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.
Maharashtra Cyber has issued advisories to various state government departments, including police, to take precautionary steps to avoid cyber attacks after the credentials of many of these departments were found on the darknet. The departments include the Maharashtra Public Service Commission, the Directorate General of Information and Public Relations (DGIPR), the Electricity Department, Maha DBT, among others. Maharashtra Cyber has also written to the Ministry of Electronics and Information Technology (MeitY) recommending blocking of Wikipedia and Proton Mail platforms under relevant sections of the Information Technology Act for failing to comply with specific police directives.
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
Junaid Khan and Sai Pallavi's Ek Din has an intriguing premise that ultimately falters due to weak chemistry and an emotionally underwhelming payoff, discovers Sreeju Sudhakaran.
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.
Michael remains a passable biopic that looks good, sounds great, and delivers the moments fans came for. But it also feels formulaic in a way that's hard to ignore, notes Mayur Sanap.
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.
The popular online source of information is embroiled in legal cases in India over alleged inaccurate and defamatory content provided by it.
HDFC Bank is engaging external legal firms, both domestic and international, to investigate the circumstances surrounding former part-time chairman Atanu Chakraborty's resignation.
