West Bengal Chief Minister Suvendu Adhikari announced that the first phase of fund transfers under the 'Annapurna Yojana' will begin on June 3, with eligible women beneficiaries receiving Rs 3,000 directly in their bank accounts.
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.
Meghalaya has shown significant progress in digital transactions and financial inclusion, recording 32.76 crore digital transactions and nearly 10 lakh Jan Dhan accounts by 2025-26. Efforts like the JAM Trinity and financial literacy programmes have expanded banking access, with a high percentage of bank account holders adopting digital modes. The next phase focuses on enhancing financial literacy and cyber resilience, especially in rural areas.
A sub-inspector in Vrindavan, Uttar Pradesh, has been transferred and an inquiry ordered following a complaint alleging he assaulted a passerby without provocation.
Finance Minister Nirmala Sitharaman has urged the Reserve Bank of India to accelerate its central bank digital currency initiatives, emphasising the need to sharpen capabilities with the digital rupee amidst rapid advancements in tokenisation, agentic AI, and quantum computing. She also highlighted critical concerns regarding cybersecurity, warning that autonomous AI systems are evolving rapidly and require robust safeguards. Sitharaman proposed a federated industry platform to give India's technology ecosystem a collective international voice.
Chandigarh is set to launch the Central Bank Digital Currency (CBDC), or digital rupee, for Direct Benefit Transfer (DBT) under the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) on August 14. This initiative makes Chandigarh the first Union Territory to fully roll out CBDC-based DBT for food subsidy, enhancing transparency and efficiency in welfare delivery. The digital rupee, issued by the RBI, will be purpose-bound for purchasing foodgrains from authorised merchants.
Hospital chain Fortis Healthcare has filed a special leave petition in the Supreme Court against a Delhi High Court order directing a forensic audit into the alleged erosion of assets by its former promoters, Malvinder and Shivinder Singh, during enforcement proceedings initiated by Japanese drugmaker Daiichi Sankyo.
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.
The central government has introduced a 0.4 per cent fee on UPI transactions exceeding Rs 2,000, prompting traders' associations to advocate for cash payments to avoid additional costs on digital payments. This move ends the zero-Merchant Discount Rate (MDR) regime, with traders expressing concerns about operating on tight margins and the potential for increased charges.
Gujarat CID has arrested Rafiqul Alam, the alleged 'mastermind' behind 1,090 cybercrimes totalling Rs 1,071.5 crore, who was found to have links with China-based criminals and converted illicit funds into cryptocurrencies.
Eighteen-year-old Moroccan midfielder Ayyoub Bouaddi delivered a commanding performance on his first start for Manchester City, helping them secure a 2-0 Champions League victory against Porto.
'...but should prepare for listing unless a court grants effective interim relief.'
The Reserve Bank of India (RBI) has announced a record surplus transfer of Rs 2.87 trillion to the central government for FY26, driven by increased income and an expanded balance sheet, despite a reduction in the contingent risk buffer (CRB) to 6.5 per cent.
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 Retailers Association of India (RAI) has voiced concerns that the government's new 0.4 per cent Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000 could reverse the progress of digital payment adoption among small retailers. This fee, effective October 15, places the burden on merchants operating on thin margins, potentially pushing them back to cash transactions and undermining the government's formalisation agenda, especially ahead of the festive season.
Ahmedabad Cyber Crime Branch has uncovered a Rs 1.5 crore WhatsApp fraud, leading to the arrest of two key SIM and OTP suppliers in West Bengal. The investigation revealed a sophisticated international cybercrime network spanning China, Pakistan, India, and Hong Kong, operating a "boss scam" and utilizing a "Cybercrime as a Service" model. Police recovered a significant portion of the defrauded amount and secured thousands of devices.
Former Haryana Chief Minister Bhupinder Singh Hooda has criticised the newly introduced fees on UPI payments, stating they will lead to increased inflation for the common man. He dismissed government claims that customers would not be burdened, arguing that merchants would pass on the costs. Hooda demanded the immediate withdrawal of these fees, highlighting that the government's move contradicts its 'Digital India' initiative.
The Calcutta High Court has appointed a retired judge as a special officer to manage the day-to-day expenses of the Mamata Banerjee-aligned Trinamool Congress (TMC) from three debit-frozen bank accounts. The accounts were frozen following a complaint by a rival TMC faction alleging they held proceeds of crime. The court allowed transactions for party expenses and legal costs, noting that the initial freezing lacked specific material basis and that the complainant had previously benefited from these accounts.
A Public Interest Litigation has been filed in the Supreme Court challenging the Centre's decision to impose a 0.4 per cent Merchant Discount Rate (MDR) on UPI person-to-merchant transactions exceeding Rs 2,000. The plea argues that the levy was introduced without adequate statutory safeguards, transparency, or public consultation, and questions its constitutional validity and potential adverse effects on merchants and consumers.
India's Unified Payments Interface (UPI) recorded an unprecedented 24.51 billion transactions valued at Rs 29.8 lakh crore in August, largely propelled by the Raksha Bandhan festival. This surge marks a 22% annual increase in volume and 20% in value, highlighting the expanding reach and depth of the UPI ecosystem. Experts anticipate further growth during the upcoming festive season, while UPI's international acceptance now spans 11 countries.
CPI(ML) Liberation general secretary Dipankar Bhattacharya has strongly criticised the newly introduced Merchant Discount Rate (MDR) on select UPI transactions, labelling it a "UPI tax" and demanding its immediate rollback. He drew parallels with demonetisation, arguing that the new framework would negatively impact small shopkeepers, MSMEs, and ordinary citizens by increasing prices.
NPCI International Payments Ltd (NIPL) and Maldives Monetary Authority (MMA) have successfully integrated the Maldives' instant payment system 'Favara' with India's Unified Payments Interface (UPI). This enables real-time fund transfers from Maldives to UPI-enabled Indian bank accounts, marking a significant step in cross-border digital financial connectivity and bilateral economic cooperation.
'When the women of India become unstoppable, India becomes unstoppable.'
The Enforcement Directorate has attached assets worth approximately Rs 112.90 crore, including a residential property in Texas, USA, in a money-laundering case. The case involves a Noida-based air-conditioner components manufacturer, LEEL Electricals Limited, and its promoters, accused of defrauding a consortium of banks led by SBI of Rs 376 crore through manipulated financial statements and siphoning off funds.
Ladakh Lieutenant Governor Vinai Kumar Saxena has approved new rules for the regularisation of 'nautor lands', granting proprietary rights to eligible landholders. This move aims to resolve a long-pending issue, provide legal certainty, and allow land to be used as a financial asset for thousands of residents in the Union Territory.
Whether it's a five-star banquet hall, a school lunch supplier, a blood bank, or a Bollywood actors' surrogate advertisements, Tukaram Mundhe seems to have an opinion, a bye-law, and very possibly an inspection team on standby.
Infosys Chairman Nandan Nilekani stressed the need for India to develop population-scale tokenisation infrastructure capable of handling billions of transactions, rather than merely focusing on issuing tokens. He highlighted the importance of interoperability, liquidity, and high volumes for tokenisation to expand across various asset classes and use cases.
Former Delhi minister Satyendar Jain and ex-Delhi Jal Board CEO Udit Prakash Rai are among six individuals arrested by the Anti-Corruption Branch (ACB) in connection with an alleged corruption case. The case involves irregularities and manipulation in the tendering process for sewage treatment plant projects of the Delhi Jal Board, with allegations of favouring a specific technology provider and significant financial implications for the government exchequer. The investigation has also revealed a money trail involving substantial transfers to the accused.
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.
Odisha Police's Economic Offences Wing (EOW) has arrested two more individuals in connection with a Rs 9.6 crore bank fraud case, bringing the total number of arrests to six. The accused, Surjit Roy and Sameer Srivastav, were apprehended in Raipur, Chhattisgarh, for allegedly withdrawing funds from the District Mineral Foundation (DMF) trust using forged cheques.
The West Bengal government will hand over land to the Border Security Force for international boundary fencing and security infrastructure, starting with a 27 km stretch. Chief Minister Suvendu Adhikari said more land would be provided wherever required to strengthen border management in the state.
Fugitive diamond merchant Nirav Modi has been ordered by a UK High Court to pay Bank of India over USD 11.5 million, including accruing interest, for a personal loan guarantee related to his Dubai-incorporated firm, Firestar Diamond FZE.
For India, the goal is not simply to host another grand diplomatic gathering. It is to prove that a diverse coalition of emerging powers can still deliver.
Punjab has launched the fourth season of its state-level sports event, 'Khedan Wattan Punjab Diyan', aiming to identify and nurture sporting talent from grassroots to global levels. The event, featuring 39 disciplines and nearly 10 lakh participants, offers Rs 12.50 crore in prize money, including cash awards for veteran players for the first time. Chief Minister Bhagwant Mann inaugurated the games, highlighting the state's commitment to sports infrastructure development and financial assistance for athletes.
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.
England midfielder Morgan Rogers is an ideal signing for Chelsea and could form an exciting partnership with midfielder Cole Palmer, new manager Xabi Alonso said on Monday.
A sub-inspector in Mathura has been transferred and an inquiry ordered after videos surfaced showing him allegedly misbehaving with a minor boy and a youth. The incident sparked public outcry and prompted a departmental investigation.
US President Donald Trump is expected to sign the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 later on Friday (local time). A White House official confirmed the development to ANI without revealing further details.
Nepali security forces have intensified search and rescue operations across the flood-hit areas, using helicopters and ground teams to evacuate survivors and search through mud and debris.
The operation remains challenging as destroyed roads and bridges have cut off several remote communities, while hundreds of people are still missing.
For the second time in two years, Karnataka minister B Nagendra resigned from the state Cabinet on Friday amid the Opposition heat over his alleged involvement in the Rs 89 crore Valmiki Corporation scam.
