RBI Deputy Governor S C Murmu stated that the introduction of merchant discount rate (MDR) on UPI transactions is unlikely to cause a shift back to cash, despite some concerns, emphasising that MDR will help the payments ecosystem recover costs.
India's shooting campaign at the Aichi-Nagoya Asian Games commenced with a strong performance, securing two silver medals in the women's 10m air rifle event. Experienced shooter Elavenil Valarivan was instrumental, winning an individual silver and contributing to a team silver alongside Sonam Uttam Maskar and debutant Vidarsa Vinod. While Elavenil narrowly missed individual gold, her performance, coupled with the team's success, provided an encouraging start for India.
Bjorn Fortuin's four-wicket haul sparked Namibia's collapse before Jordan Hermann and Connor Esterhuizen powered South Africa's chase, sealing a commanding nine-wicket win and 3-0 ODI series sweep.
The Congress party has criticised the Modi government over a notification regarding UPI transactions, alleging it paves the way for imposing fees, especially on transactions above Rs 2,000. Rahul Gandhi claimed the government is surrendering to American pressure, while Mallikarjun Kharge highlighted the potential burden on common citizens amidst inflation. The government's notification prohibits charges on UPI transactions up to Rs 2,000 but remains silent on higher amounts, sparking fears of a "Digital Payments Tax."
Congress leader Rahul Gandhi has accused the Modi government of quietly paving the way for imposing fees on UPI transactions, alleging it's a surrender to American pressure. The government's recent notification exempts charges only up to Rs 2,000, sparking concerns that higher value transactions and eventually all UPI payments could incur fees. Finance Minister Nirmala Sitharaman, however, clarified that Merchant Discount Rate (MDR) applies to merchants, not customers, and supports digital infrastructure.
The benchmark Sensex plummeted 813 points to a three-month low, with the Nifty settling below 23,450, as escalating tensions in West Asia drove crude oil prices above USD 100 per barrel, leading to widespread selling in IT, FMCG, financial services, and oil & gas shares.
India's Maaya Rajeshwaran Revathi and her Ukrainian partner Antonina Sushkova concluded their impressive run at the US Open junior girls' doubles, losing in the semifinals to American twins Annika and Kristina Penickova. Despite the loss, their unseeded journey included significant upsets against seeded pairs.
India's shooting campaign at the Aichi-Nagoya Asian Games commenced with a strong performance, securing two silver medals in the women's 10m air rifle event. Elavenil Valarivan was instrumental, winning an individual silver and contributing to the team silver alongside Sonam Uttam Maskar and Vidarsa Vinod. While Valarivan narrowly missed individual gold, her performance, along with the team's, provided an encouraging start for India.
Paytm CEO Vijay Shekhar Sharma stated that the government's new Merchant Discount Rate (MDR) on large-value UPI transactions will significantly increase the company's revenue and profitability. The 0.4% fee on UPI transfers exceeding Rs 2,000 to merchants, effective October 15, is expected to give Paytm a competitive edge. Sharma also highlighted the company's focus on generating free cash flow, expanding internationally, and developing proprietary artificial intelligence capabilities to drive future growth.
Police are investigating a revenge angle in the recent murder of a gym trainer in South Delhi's Aya Nagar. The killing is suspected to be part of an ongoing feud between two families, with alleged gang involvement and a social media claim of responsibility by a foreign-based gangster.
The Congress party has strongly criticised the Modi government's decision to introduce a 0.4% Merchant Discount Rate (MDR) on UPI transactions over Rs 2,000, alleging it is a result of US pressure to benefit American card companies. The party also linked this move to broader US actions against India, including tariffs and H-1B visa issues, coining the term "Narendra's Ongoing Trump Appeasement." The government, however, clarified that consumers will not bear the charge, which applies only to merchants.
The Congress party has accused the Modi government of succumbing to US pressure by introducing a 0.4% Merchant Discount Rate (MDR) on UPI transactions over Rs 2,000 for merchants. The party alleges this move aims to benefit US card companies and links it to broader US actions against India, including tariffs and H-1B visa issues. The government, however, clarifies that consumers will not be charged.
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.
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.
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.
Potential external candidates include Anup Bagchi, Rajiv Sabharwal and CSB Bank's Pralay Mondal.
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.
The RSS-affiliated Swadeshi Jagran Manch (SJM) has urged the government to reconsider imposing a merchant discount rate (MDR) on UPI transactions above Rs 2,000, arguing that the costs do not warrant such a move. This comes after the government announced a 0.4 per cent fee on merchant transfers over Rs 2,000 from October 15, while assuring that person-to-person and small payments remain free. SJM co-convener Ashwani Mahajan highlighted that banks have not demanded MDR and that UPI has reduced their transaction costs.
Organisers of the Asian Games in Nagoya are actively addressing complaints regarding athlete accommodation, including issues with bed sizes in container huts and cabin sizes on the newly docked cruise ship, Costa Serena, which will house 4,000 participants.
India batter Mayank Agarwal has signed with Durham for the final four matches of the County Championship's Division Two, aiming to help the team secure promotion to Division One.
American tennis player Emma Navarro defeated Anna Kalinskaya 6-4, 6-2 to reach the US Open quarter-finals.
Newly listed companies Vedanta Aluminium Metal, SBI Funds Management and Manipal Health Enterprises have entered the Rs 1 trillion mcap list since March 2026.
PAYD suits infrequent drivers who can estimate annual mileage.
'The market is currently neither cheap enough to be exciting about nor expensive enough to worry about.'
Indian benchmark equity indices extended their losing streak for a fourth consecutive day, with the Sensex tumbling 417 points due to rising crude oil prices and a significant sell-off in IT stocks, impacting overall investor sentiment.
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.
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.
A report by Scholars at Risk, 'Free to Think 2026', states that academic freedom in India is "severely restricted" due to increasing government influence over higher education, university governance, and curbs on student expression. India is listed among six countries in this category, with its Academic Freedom Index score sharply declining. The report cites instances of faculty dismissals, event cancellations, and pressure on student protests, highlighting the alleged use of the UGC as a vehicle for state influence.
The marquee series against India starting late October has set the cash registers ringing at New Zealand Cricket headquarters as the parent body confirmed sale of more than 50,000 tickets since going on sale just over two weeks ago.
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.
Opposition MPs have voiced strong criticism against the government's new fee on UPI payments exceeding Rs 2,000 to merchants, calling it "anti-people" and expressing widespread "outrage". The issue was raised in a Parliamentary Standing Committee meeting, where concerns were also flagged regarding the methodology of GDP growth calculation and the government's stance on Virtual Digital Assets.
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.
The combined market valuation of five of India's top-10 most valued firms eroded by Rs 1 lakh crore last week, with IT giant Tata Consultancy Services (TCS) experiencing the largest decline amidst a bearish trend in domestic equities.
'The changes in its leadership team will help address the scepticism that has engulfed the bank over the recent period.'
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.
South African opener Jordan Hermann smashed an unbeaten 150 runs off just 126 balls on his One Day International (ODI) debut against Namibia, equalling the world record for the highest score by a batter on ODI debut.
Opposition parties, including Congress, TMC, and RJD, have strongly criticised the government's decision to impose a 0.4% Merchant Discount Rate (MDR) on UPI transactions exceeding Rs 2,000 made to merchants. They allege the move is a result of "American imperialism" and will lead to increased commodity prices, while the government maintains the charge is on merchants and not consumers, with person-to-person transactions remaining free.
Market experts have largely supported Sebi's proposed changes to the expiry-day trading framework, including delinking derivatives settlement prices from cash-market closing prices and discontinuing live indicative index values during the Closing Auction Session (CAS), believing these will address volatility and manipulation.
Erling Haaland stunned fans by replacing his trademark flowing blonde locks with a buzz cut, sparking playful reactions from Zlatan Ibrahimovic and Pep Guardiola before Manchester City's opener.
The opposition has strongly criticised the government's decision to introduce a 0.4% Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000 for merchants, effective October 15. They allege the move is a result of US pressure and will lead to increased commodity prices, calling it a "betrayal" of the common man. The government, however, clarifies that customers will not be charged, and the MDR applies only to merchants for larger transactions.
