Foreign portfolio investors (FPIs) turned net sellers in the first week of September, withdrawing Rs 7,443 crore from Indian equities, driven by rising crude oil prices, increasing US bond yields, and a strong dollar.
George Russell secured a hard-fought victory at the Azerbaijan Grand Prix, fending off a late charge from Max Verstappen after two safety car periods disrupted his comfortable lead. The win marks Russell's third of the season and significantly narrows the championship gap to teammate Kimi Antonelli. Isack Hadjar also celebrated a podium finish, while several other drivers faced incidents.
The Indian government has introduced a 0.4% Merchant Discount Rate (MDR) on UPI person-to-merchant (P2M) transactions exceeding Rs 2,000, effective October 15. This move ends nearly six years of fully free UPI payments, though person-to-person (P2P) transfers and small P2M payments remain free. The charges aim to bolster investment in UPI infrastructure, with specific exemptions and caps for essential sectors.
The combined market valuation of four of India's top-10 most valued firms eroded by Rs 87,960.29 crore last week, with Bharti Airtel experiencing the largest decline, amidst a bearish trend in the equities market.
Zimbabwean cricketer Brendan Taylor has surpassed India's Sachin Tendulkar as the longest-serving one-day international player, with his ODI career now spanning 22 years and four months. Taylor, who previously retired and served a ban, returned to play for Zimbabwe ahead of the 2026 ODI World Cup.
Indian benchmark indices, Sensex and Nifty, closed higher, primarily driven by bank stocks and encouraging US inflation data, which fuelled expectations of a less aggressive Federal Reserve monetary policy. However, escalating US-Iran hostilities tempered investor sentiment, leading to some profit-taking.
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."
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.
India added significantly to its Asian Games medal tally with strong performances across athletics, squash, and boxing. Ancy Sojan and Sarvesh Kushare secured silver medals in long jump and high jump respectively, while Parul Chaudhary and Harita Bhadra earned bronzes. Despite high hopes, Indian squash players missed out on Olympic berths, settling for silvers. Boxing saw three athletes advance to semifinals, assuring more medals, though individual badminton campaigns concluded without a medal.
The Indian men's 10m air pistol team finished fourth at the Asian Games, narrowly missing a bronze medal, while the mixed skeet team of Parinaaz Dhaliwal and Anant Jeet Singh Naruka successfully qualified for their event's final.
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.
The Finance Ministry has dismissed allegations of US pressure influencing the 0.4% Merchant Discount Rate (MDR) on select UPI transactions. It clarified that NPCI guidelines prioritise RuPay credit cards on UPI and do not favour international cards. The ministry also asserted that the MDR, applicable to person-to-merchant transactions above Rs 2,000, is unlikely to increase cash transactions or cause inflation, with measures in place to prevent burdening consumers.
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Anantjeet Singh Naruka and Parinaaz Dhaliwal secured India's first-ever Asian Games medal in the mixed team skeet event, winning a historic bronze. This achievement marked a remarkable three-medal haul for Indian skeet at the Games, overcoming challenging conditions and intense competition. The duo fought through qualification and a nerve-wracking final, adding to their individual team bronzes.
The US Department of Homeland Security has proposed an additional fee of USD 103,265 for all H-1B visa cap-subject applications, including those eligible for the advanced degree exemption. This new fee aims to recover interagency costs for immigration programmes and would be paid in addition to existing fees. The proposal is open for public comments for 30 days and has drawn criticism from immigration advocates.
Lalremsiami Hmarzote, Mizoram's first female Olympian and Asian Games medallist, is now India's offensive lynchpin, aiming for a first Asian Games hockey gold since 1982, after overcoming initial family resistance and training on dirt pitches.
The benchmark BSE Sensex rebounded by 362 points, ending a four-day losing streak, driven by strong buying in metal, private banking, and oil and gas shares, while the broader NSE Nifty saw modest gains despite paring some advances in the closing session.
Tax experts clarify that merchants will pay 18% GST on Merchant Discount Rate (MDR) for UPI payments exceeding Rs 2,000, effective October 15. However, registered merchants can claim Input Tax Credit (ITC), mitigating the tax burden. This move is expected to generate significant GST revenue for the exchequer while funding payment infrastructure.
Opposition MPs have voiced strong concerns regarding the government's decision to levy a 0.4 per cent fee on UPI payments above Rs 2,000 made to merchants, effective October 15. They argue that this "anti-people" move will negatively impact a large segment of the population, despite the finance ministry clarifying that the charge is on the merchant ecosystem and not directly on customers for P2P or small payments.
'The market is currently neither cheap enough to be exciting about nor expensive enough to worry about.'
Indian table tennis player Ankur Bhattacharjee achieved a significant milestone by winning his first WTT men's singles title and a doubles gold with Akash Pal at the WTT Feeder Olomouc tournament. Bhattacharjee defeated Slovenian Deni Kozul in the singles final and, alongside Pal, secured the doubles title against Hungarian and Polish opponents.
The Sports Ministry has granted an exemption to the Indian Olympic Association (IOA), allowing it to maintain a 16-member Executive Council. This decision aligns with the International Olympic Committee's (IOC) recommendation, overriding the National Sports Governance Act's usual limit of 15 members, to ensure compliance with international statutes ahead of upcoming IOA elections.
The Finance Ministry has clarified that the 0.4 per cent Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000, effective October 15, is not expected to increase cash transactions or cause inflation. The ministry also dismissed allegations of US pressure influencing the decision, asserting that the policy aims to promote RuPay credit cards within the UPI ecosystem, and a monitoring mechanism will ensure the MDR burden is not passed on to consumers.
Former Rajasthan chief minister Ashok Gehlot has criticised the Centre for introducing a 0.4% charge on UPI transactions above Rs 2,000, alleging the decision was influenced by pressure from the United States and its payment companies like Visa and Mastercard. He highlighted a perceived shift in the government's stance on Merchant Discount Rate (MDR) for UPI, claiming it would ultimately burden consumers and small businesses while benefiting American firms.
Manchester City secured their position at the top of the Premier League table with a thrilling 5-3 victory over Sunderland. Despite a hat-trick from Sunderland's Brian Brobbey, City maintained their 100% start to the season, with Antoine Semenyo scoring a double and Erling Haaland sealing the win late on. Elsewhere, Liverpool secured a 1-0 win against Bournemouth, while Leeds United drew 0-0 with Crystal Palace.
India Under-19 secured a narrow seven-run victory over Australia U-19 in a rain-affected first Youth ODI. Anvay Dravid's explosive late innings and Yashbardhan Chauhan's all-round performance, including a half-century and two wickets, were pivotal. The match also marked the U19 debut of Aaryavir Sehwag, who contributed 28 runs.
Indian benchmark indices, Sensex and Nifty, traded marginally higher in early trade despite the US Federal Reserve's recent rate hike and indications of further tightening, with the National Stock Exchange's much-anticipated Rs 22,569-crore IPO also opening for subscription.
India's IT services industry is witnessing a surge in mergers and acquisitions, particularly among mid-cap companies, as AI-led pricing pressure and macroeconomic uncertainty compel firms to seek scale, capabilities, and broader market reach. This trend is exemplified by the recent merger of Happiest Minds Technologies and ITC Infotech, aiming to offer end-to-end solutions and compete for larger transformation programmes.
Anantjeet Singh Naruka and Parinaaz Dhaliwal overcame a challenging start to secure India's first-ever bronze medal in the Asian Games skeet mixed team event. Their remarkable comeback, fueled by mutual support and a fighting spirit, culminated in a significant achievement for Indian shooting, adding to their individual medal tallies at the Games.
Vaibhav Sooryavanshi's incredible IPL 2026 campaign ended with another historic achievement as the 15-year-old became the youngest player ever to win the Orange Cap.
BSP chief Mayawati has criticised the Centre's decision to introduce a 0.4 per cent fee on UPI merchant transactions exceeding Rs 2,000, effective October 15. She termed it a "capitalist profiteering attitude" that burdens the common people, while the government clarified that the charge is on merchants and not customers for person-to-person transactions.
The Supreme Court has raised concerns regarding Bengaluru's Premium Floor Area Ratio (FAR) scheme, questioning its impact on urban infrastructure. The court cited Gurugram's infrastructure collapse during rains as a cautionary tale, contrasting it with Greater Noida's planned development. The scheme allows property owners to purchase additional construction rights, but petitioners argue it strains existing infrastructure and could regularise illegal constructions.
Germany coach Juergen Klopp has urged citizens to reclaim expressions of national pride from 'the wrong people,' in a clear rebuke to the far-right Alternative for Germany (AfD) following their recent election victory.
New Zealand batter Mark Chapman has opted for a "casual contract" with New Zealand Cricket for the 2026-27 season to play in the Australian Big Bash League. Despite this, he will remain available for selection for the upcoming home series against India. This decision has opened up a central contract spot for fast bowler Matthew Fisher.
Indian benchmark indices, Sensex and Nifty, closed nearly flat on Thursday, influenced by the US Federal Reserve's interest rate hike and indications of further monetary tightening. Despite some intraday gains, caution prevailed, with foreign institutional investors continuing to offload equities. Meanwhile, the National Stock Exchange of India's (NSE) mega initial public offering opened for subscription, garnering 39 per cent subscription on its first day.
The Aichi-Nagoya Asian Games are grappling with significant accommodation issues, including male and female athletes being allocated shared rooms and long waiting times for credential activation, forcing even the host Japan team to seek alternative arrangements.
Veteran Indian all-rounder Ravindra Jadeja advised debutant Saransh Jain to treat his maiden Test match as another First-Class game, urging him to enjoy the moment without pressure. Saransh, the 320th player to represent India in Tests, expressed his happiness at receiving his cap from an all-rounder like Jadeja and dedicated his cricketing journey to his father.
India's head coach Gautam Gambhir indicated that top batters might be rested from white-ball cricket to prepare for Tests during the upcoming New Zealand tour. He emphasised the importance of Test cricket, the challenge of multi-format players, and discussed preparations for the 2027 World Cup, highlighting the crucial roles of Hardik Pandya and Jasprit Bumrah, and praising Shubman Gill's captaincy.
Saransh Jain, the 33-year-old Madhya Pradesh all-rounder, made his India Test debut against Sri Lanka, replacing the injured Kuldeep Yadav, a testament to his consistent domestic performances.
England secured a dominant six-wicket victory over Sri Lanka in Cardiff, clinching the T20 series 2-0. Jos Buttler made history by becoming the first player to reach 15,000 career T20 runs, while Liam Dawson's three-wicket haul and Tom Banton's unbeaten fifty guided England to an easy win.
