Finance Minister Nirmala Sitharaman clarified that the Merchant Discount Rate (MDR) on digital transactions applies to merchants, not customers, and aims to support banks and fintech in infrastructure investment. She countered Congress leader Jairam Ramesh's claims, stating that a committee will decide on MDR only after Parliament passes the Taxation and Other Laws (Amendment) Bill, 2026, a process currently stalled by parliamentary disruptions.
Jharkhand's Finance Minister has ordered a statewide investigation into alleged fraudulent salary withdrawals from government treasuries, following reports of irregularities in multiple districts.
Ten days after the expansion of the BJP government's cabinet in West Bengal, key portfolios have been allocated, with senior leader Tapas Roy taking charge of industries and journalist-turned-politician Swapan Dasgupta appointed finance minister.
'Uncertainty level A in the morning, uncertainty level B in the afternoon. If I answer about tariff rates now, I'll be outdated by the evening.'
Dr Manmohan Singh first embossed himself on the national consciousness when as India's finance minister he flagged off economic reforms which changed this nation forever.
'It is not because of the war in West Asia, which began on February 28.' 'Petroleum product prices are already going through the roof. They are bound to have a serious inflationary impact.' 'A country's leadership is tested in trying times. It is here that the current leadership is failing.'
The Rajya Sabha has passed The Bankers' Books Evidence Bill, 2026, which aims to replace a British-era law and allow digital and virtual records to be admissible as evidence in courts. This legislation aligns with contemporary digital banking practices and extends a uniform evidential framework to various financial entities, including NBFCs and fintech companies. Finance Minister Nirmala Sitharaman highlighted the bill's role in strengthening public confidence and safeguarding customer privacy. The bill's passage, however, saw an Opposition walkout over unrelated issues.
Union Finance Minister Nirmala Sitharaman announced the government's plan to establish a high-powered committee to examine reforms for the banking sector, aligning it with the vision of a 'Viksit Bharat' (Developed India) and India's next phase of growth.
Andhra Pradesh and Punjab National Bank (PNB) have signed an MoU to establish the PNB Quantum Finance Hub at Amaravati Quantum Valley. This initiative aims to foster innovation and adopt next-generation technologies like AI and Quantum Computing in the banking sector, focusing on cybersecurity, fraud detection, and customer experience.
'The critical event signalling a new era for India was Dr Singh's 1991 Budget in which he quoted Victor Hugo to say that no power on earth could stop an idea whose time has come,' recalls T N Ninan.
'Suddenly we had a new comprehension of affairs, which reminded that the luxury of politics floated atop a foundation by economics.' 'Along with this, finance ministers became crucial in molding the perception and reputation of Union Cabinets.' 'Governments couldn't afford a wrong person in that portfolio,' asserts Shyam G Menon.
Tamil Nadu Chief Minister C Joseph Vijay will handle key portfolios including police, general administration and welfare of women, youth and children. Veteran leader K A Sengottaiyan has been designated as the Finance Minister.
Finance Minister Nirmala Sitharaman has urged income tax authorities to significantly accelerate the adjudication of taxpayer appeals.
'Propaganda films that the BJP makes, whether it's The Kerala Story or others, are shown wherever elections occur as part of their propaganda. But real-time human rights violations... If such things don't come on a public platform, how will correction occur?'
Vijay's Jana Nayagan releases in theatres, and fans just can't keep calm!
Chief Minister C Joseph Vijay-led Tamilaga Vettri Kazhagam government on Wednesday allotted over Rs 1,000 crore to provide gifts of gold coin, ring and milch cows to beneficiaries to fulfill the election promise made by the party ahead of the assembly election this year.
The Payments Council of India has confirmed that Unified Payments Interface (UPI) services will continue to be free for consumers and small merchants, despite a recent Lok Sabha Bill. This clarification addresses concerns about potential charges, emphasising that while a sustainable financial model for UPI infrastructure is being developed, transaction charges will not be passed on to users or small businesses.
The Bharatiya Janata Party's new national team integrates women, minority leaders, and regional representatives to strengthen its organisational structure and national appeal.
Economists highlight that resolving domestic policy bottlenecks, particularly through land reforms and improving the ease of doing business, will be critical for Prime Minister Narendra Modi's 'next-generation reforms' and India's economic transformation towards its 'Viksit Bharat' vision for 2047.
Bangladesh is considering joining a newly formed defence alliance between Saudi Arabia, Pakistan, and Turkiye, with junior ministers stating that any decision would be based on national interests and a "Bangladesh First" policy. The pact, signed in Makkah, aims for collective deterrence.
The Bharatiya Janata Party (BJP) has announced a significant overhaul of its national team under party president Nitin Nabin, introducing numerous new faces and promoting prominent leaders like former Union minister Smriti Irani to general secretary and former RSS functionary Ram Madhav to vice president. The revamp aims to balance youth and experience while preparing for upcoming assembly and general elections.
The overhaul comes after a series of controversies surrounding the conduct of examinations administered by NTA, which has faced questions over examination security and its handling of irregularities.
The West Bengal government has revoked the Banga Bibhushan award from Rajya Sabha MP Ananta Maharaj following his controversial remarks describing Netaji Subhas Chandra Bose as a 'war criminal' and questioning the Azad Hind Fauj's role in India's freedom struggle.
Lack of women in Karnataka's new council of ministers has put the spotlight once again on women's under-representation in politics and policy.
Prime Minister Narendra Modi on Thursday discussed with a group of senior ministers the prevailing global security situation and how to maintain supply chain uninterrupted despite conflicts in different zones, including the Strait of Hormuz, the Black Sea, the Red Sea, and the Gulf of Aden.
Students protesting against alleged irregularities in Jharkhand's recruitment exams announced burning the effigies of Chief Minister Hemant Soren and Rahul Gandhi in all districts on Sunday, accusing the Jharkhand Mukti Morcha-Congress alliance of "failing to take concrete action" on their demands.
Punjab Finance Minister Harpal Singh Cheema has condemned the recent blasts in Amritsar and Jalandhar, calling them a deliberate attempt to spread terror and disrupt the state's peace. He accused the BJP of trying to create an atmosphere of fear and division for political gains ahead of elections.
Dipke has clarified the funding of his US education, stating it was supported by a scholarship and an education loan, amidst growing scrutiny and calls for a probe into his finances.
The National Testing Agency (NTA) is undergoing significant reforms, including the removal of over 50 staff members and the onboarding of new leadership and domain specialists. This comes after recent issues like errors in UGC-NET papers, leading to re-tests, and the cancellation of NEET-UG 2026. The Education Ministry has directed a complete overhaul of exam protocols and a thorough audit of all processes to ensure integrity.
Inflows into foreign currency non-resident (bank), or FCNR (B), deposits have significantly underperformed market expectations, leading to a more than 1 per cent depreciation of the rupee against the dollar this week. Analysts point to fading RBI support measures, tepid interest due to rising global bond yields, and narrowing interest rate spreads compared to 2013 as key challenges.
The Lok Sabha has passed a Bill to amend the Payment and Settlement Systems Act, 2007, authorising the government to permit banks and service providers to levy charges on UPI and other electronic payment modes. This move aims to create a sustainable revenue model for the digital payments ecosystem, shifting from the current exemption of UPI transactions from such charges.
The Indian government has approved the introduction of one billion polymer banknotes in Rs 10 and Rs 20 denominations for field trials, aiming to enhance durability. This move comes as the Finance Minister also addressed Parliament on declining retail inflation, GST reforms, and other fiscal measures taken to support the economy and household consumption.
The Biotechnology Industry Research Assistance Council (BIRAC) has chosen seven to eight biotechnology startups as the initial group to receive funding from the government's ~1 trillion Research, Development and Innovation (RDI) Fund, with an average investment of approximately ~25 crore per startup.
Chandrasekaran's exit is more than a change of chairman. It represents the breakdown of the informal consensus that governed the Tata system under Ratan Tata.
Recent BJP organisational moves and Rajya Sabha nominations have sparked speculation that Prime Minister Narendra Modi may soon undertake a ministerial reshuffle.
N Chandrasekaran, chairman of Tata Sons, announced he would not seek reappointment when his term ends in February 2027, following a series of departures by senior figures closely associated with former chairman Ratan Tata, including Vijay Singh and Mehli Mistry, amid a deepening power struggle and governance dispute within the Tata Group.
N Chandrasekaran's decision not to seek reappointment when his term as chairman of Tata Sons ends in February 2027 signals a significant shift in leadership amidst an ongoing power struggle and governance disputes within the Tata Group.
The BJP has announced its new national organisational team, with eight leaders from Uttar Pradesh receiving key appointments. These include two national vice-presidents, two general secretaries, two secretaries, and the chiefs of the OBC and Minority Morchas. The appointments reflect a strategic focus on youth, social diversity, and experienced campaigners, particularly after the party's recent electoral setbacks in the state.
The Jharkhand government has cancelled 44 recruitment examinations conducted by the state Public Service Commission (JPSC) and an outsourced agency since 2014, including the JSSC Combined Graduate Level (CGL) examination, following a 25-day student agitation over alleged irregularities. This decision has led to protests from around 2,000 candidates who had already been appointed to various state government departments after clearing the JSSC-CGL exam.
Japan is deepening its defence relationship with India while simultaneously expanding its economic, infrastructure and security engagement with countries around India -- particularly Bangladesh. The result is an emerging Japanese conception of South Asia in which India remains the strategic anchor, but the geography surrounding India is becoming increasingly important, points out Varun Arya.
