'The way the government behaves, sometimes I ask myself: Are not Tamils Sri Lankans too? Why do you discriminate so much?'
Samajwadi Party president Akhilesh Yadav has criticised the BJP government's proposed Merchant Discount Rate (MDR) on high-value UPI transactions, calling it a "chungi" (tax) on digital payments. He alleged the move was an attempt to extract money from people's transactions, contradicting the government's goal of a trillion-dollar economy. The new UPI framework will impose a 0.4% MDR on person-to-merchant transactions above Rs 2,000 from October 15, with certain sectors having a flat Rs 5 MDR.
Indian benchmark equity indices, Sensex and Nifty, rebounded in early trade after a three-day slide, driven by strong buying in blue-chip bank stocks and a firm trend in global markets, supported by easing US bond yields and record foreign-currency deposit inflows.
Left parties have strongly condemned the government's decision to impose charges on UPI payments exceeding Rs 2,000, with CPI General Secretary D Raja alleging the move was made under "US pressure" to favour foreign payment companies. Both CPI and All India Forward Bloc demand the withdrawal of this "anti-people decision," arguing it burdens consumers and merchants while undermining UPI's role as a public digital infrastructure. They highlight concerns that the charges weaken India's digital sovereignty and serve commercial interests of foreign corporations like Visa and Mastercard.
A look at some of the oldest, richest and famous Ganesh pandals in Mumbai.
Comparing the two states is comparing an apple to an orange. I ate apples for years. Then I felt I needed some citrus, and I moved to oranges. That doesn't make the apple a lesser fruit, reflects Binu Alex.
Indian refiners are diverting 350,000 tonnes of sugar, originally slated for export, to the domestic market to ease a supply crunch and stabilise prices ahead of the festive season.
India's market regulator, Sebi, is set to issue a consultation paper proposing changes to the methodology for determining settlement prices of derivative contracts, following significant feedback and 'sharp price spikes and distortions' observed during the recently implemented Closing Auction Session (CAS) mechanism.
'It requires new skilling, new ways of working, and new structures. That's the reality.'
The Indian commodity market has experienced significant growth over the past decade, allowing Indian traders to capitalise on price fluctuations in commodities such as gold, crude oil, and natural gas. Earlier, commodity trading required substantial capital as these contracts were only available in bulk quantities. But to make the commodity market more accessible, exchanges such as the Multi-Commodity Exchange (MCX) have launched smaller and more flexible commodities contracts, including mini and micro contracts. These changes in the commodity lot size have changed the way small traders trade in commodity markets.
Commodity markets, especially the metals, are among the most volatile segments of the Indian financial ecosystem. To traders involved in commodity trading, it is not only helpful to keep track of the daily price changes but also necessary to make informed trading decisions. Commodities like gold, silver, copper, and aluminium react to many different factors, which makes it imperative for commodity traders to watch out for metal prices every day.
'The ethanol blended with petrol programme should not be halted or reconsidered.' 'India is not experiencing a structural sugar shortage, and the ethanol blending roadmap does not compete with food security or drive domestic price increases.'
The New Delhi Municipal Council (NDMC) is establishing a 24x7 command centre and implementing extensive civic preparations to ensure the smooth hosting of the 18th BRICS Summit. These measures include enhanced sanitation, beautification, traffic management, and coordination among various agencies to present a welcoming city for world leaders.
Prices had started to ease following the government's decision to allow duty-free imports of 1 mt of raw sugar and would weaken further over the next 7 to 10 days.
'China wants to control and divert rivers.'
A 34-year-old trader was shot dead in East Delhi following a heated argument over parking, leaving his family in shock and mourning.
Sebi Chairman Tuhin Kanta Pandey has defended the newly rolled out Closing Auction System (CAS), stating that it is a transparent mechanism and that the industry needs time to understand the change. He acknowledged initial turbulence and concerns from fund houses but noted an increase in mutual fund participation.
Despite decades of efforts towards energy transition, oil will remain the critical energy source for all nations for some decades. We can hope for peace opening the Strait of Hormuz, but must prepare for war closing it, points out former foreign secretary Ranjan Mathai.
The divergence between the Sensex and Nifty closing values narrowed on the third day of the Closing Auction Session (CAS) rollout, but market participants, including Zerodha's Nithin Kamath, highlight structural issues and the unfortunate timing of its introduction alongside new RBI norms.
A 34-year-old trader was shot dead in East Delhi following a parking dispute with his brother's tenant. The victim's family is devastated, and police have arrested two suspects while searching for others involved.
The Gujarat government has imposed a state-wide ban on the production, transportation, and sale of unstandardised analogue paneer, cheese, and butter. Citing public health concerns and the need to protect consumers and the dairy sector, the decision follows detections of substandard artificial dairy products during inspections. Legal action will be taken against violators.
At the heart of the decision is concern over the survival of Meghalaya's neighbourhood retailers.
'He wanted to know what products I'd brought along, so I showed him jackfruit flour, which research has linked to managing type 2 diabetes.' 'Then jackfruit seed flour, a strong source of protein that rural households have eaten for generations without it ever becoming a commercial product. I gave him ripe jackfruit chips too.'
Mumbai has spent four centuries building folklore around its monsoon: The potholes, the delayed trains, the office debates about whether it will 'break' this week or next. It turns out the rain was always a market. Nobody had built the exchange for it until now!
India has strongly condemned Pakistan's military airstrikes against Afghanistan, citing significant civilian casualties, and criticised its 'trade and transit terrorism' against Afghan traders, calling these actions blatant violations of international law and UN norms.
Commodity trading on MCX is quite different from trading equities on the NSE or BSE. During the June-July period, the commodity market players in India will encounter several commodity contract expiries.
Indian farmers staged a significant protest at the Shambhu border against a proposed India-US trade deal, fearing its detrimental effects on the domestic agricultural sector and demanding its immediate abandonment. They later ended their agitation after assurances from the Haryana Agriculture Minister regarding the release of detained farmers and a meeting with the Union Agriculture Minister.
India significantly increased its crude oil imports from Russia and the United Arab Emirates in June, securing supplies as the Strait of Hormuz began to reopen, with Russian barrels remaining attractive due to discounts and UAE supplies offsetting earlier uncertainties.
A row has erupted over former Union minister Maneka Gandhi's appeal to the Jain community to stop using 'picchis' (sacred broom) made of peacock feathers, claiming that their demand fuels illegal wildlife trade.
Varanasi Municipal Corporation's decision to relocate all meat, fish, and poultry shops outside city limits before the holy month of Sawan has ignited a debate among residents, traders, and political leaders, with supporters citing religious sentiments and critics raising concerns about convenience and livelihoods.
The Cockroach Janta Party (CJP) has reiterated its demand for Union Education Minister Dharmendra Pradhan's resignation, stating that Prime Minister Narendra Modi's announcement on fast-track courts for paper leak cases does not address accountability.
Go once. You will know, even before you board the flight home, that you will return.
Two days after a 36-day student agitation concluded at Jantar Mantar, the iconic protest site in New Delhi is already witnessing new demonstrations, including calls for Gorkhaland and women's reservation, alongside curious visitors documenting the aftermath.
New capital exposure norms implemented by the Reserve Bank of India (RBI) from July 1 have led to a noticeable drop in trading volumes, with Multi-Commodity Exchange (MCX) options premium ADTV falling by nearly 40 per cent in early July.
Algo strategies must be registered with stock exchanges.
Indian refiners have access to only limited Iranian volumes compared with Russian oil, and even the barrels on offer come with 'too many hassles'.
Jammu and Kashmir Chief Minister Omar Abdullah shared a fabricated social media post attributed to former US President Donald Trump, captioned 'If only!', to highlight his demand for the restoration of J&K's statehood, drawing significant criticism online.
The Indian stock market mythos of 36 years is wrapped in a diaphanous negligee, lashed together by a delicate, etheric sash of 1.6 bull markets. To make money from here on will require a ground invasion, trench by trench, rather than carpet bombing. Way more difficult, points out Shankar Sharma.
Silver and gold prices declined sharply in the futures trade on Friday as traders booked profits at elevated levels after a record-breaking rally, tracking a bearish sentiment in global markets and a rebound in the US dollar.
The Securities and Exchange Board of India (Sebi) has proposed a new framework to manage strike prices for options contracts, aiming to ensure continuous availability of suitable contracts even during sharp intraday market swings. This move addresses concerns that extreme price movements can leave traders without appropriate options for hedging or positioning.
