India's deposit growth has reached a 15-year high of 17.8 per cent, primarily driven by a surge in foreign currency non-resident (bank), or FCNR(B), deposits. This influx of funds is expected to lead to a softening of corporate loan rates as banks seek to deploy their excess liquidity.
Civil Aviation Minister Kinjarapu Rammohan Naidu stated that no decision has been made regarding allowing Delhi and Mumbai airport operators to own and run airlines, as the government is carefully considering the implications of relaxing cross-ownership restrictions, including potential conflicts of interest and the need for more airlines.
The BRICS New Delhi Declaration condemned the April 2025 terror attack in Pahalgam, Jammu and Kashmir, advocating for zero tolerance towards state-sponsored cross-border terrorism. The declaration also addressed global terror, illegal financial flows, cyber fraud, and emphasised accountability for those involved in terror activities.
Pakistan continues to offer a 7 million rupee reward for information leading to the arrest of Jaish-e-Mohammed chief Masood Azhar, who remains on the Federal Investigation Agency's "Red Book" of most-wanted terrorists. This development comes ahead of the Financial Action Task Force's plenary meeting, highlighting Pakistan's ongoing efforts against terror financing.
Former Gujarat University Vice Chancellor Neerja Gupta resigned as Principal Investigator for the PMJVK scheme and returned over Rs 14 crore to the university. This comes amidst allegations of financial irregularities and a multi-crore rupee scam by the NSUI, which also led to the suspension of 10 temporary appointees made by Gupta. An audit is pending for the remaining Rs 2 crore.
A high-level committee, including representatives from banks and payment associations, is set to decide on Merchant Discount Rate (MDR) for UPI transactions exceeding Rs 2,000 to merchants. While person-to-person and person-to-merchant transactions up to Rs 2,000 remain free, the move follows a recent amendment to the Payment and Settlement Systems Act, sparking debate and clarification from the Finance Minister that only certain high-value merchant transactions might incur charges.
Citron, a brand under Stellantis, anticipates that three-fourths of its sales in India will originate from Tier-II, Tier-III, and smaller cities within the next five years, a significant increase from its current 55 per cent, as it expands its retail network beyond major urban centres.
The Directorate of Revenue Intelligence (DRI) has conducted multiple intelligence-led operations across India, seizing over 845 kg of various contraband substances including ganja/cannabis, charas, amphetamine, and cocaine. These operations led to the arrest of 15 individuals involved in illicit drug trafficking, disrupting several supply chains.
Indian two-wheeler buyers are increasingly opting for feature-rich, higher-end variants and premium motorcycles, driven by technology, safety, and easier access to finance, according to TVS Motor Company. The company is also exploring alternative electric motor technologies to secure its supply chain amidst growing EV penetration.
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.
Can't afford the new iPhone 18 Pro in that very tempting burgundy shade? We're facing the same tragedy. But before you start taking out a personal loan for a phone, may we suggest a more financially sensible alternative? Wear the colour instead.
Shares of fintech firms, particularly Paytm, saw significant movement after the Indian government introduced a 0.4 per cent fee on UPI transfers exceeding Rs 2,000 made to merchants, effective October 15.
Trisha, daughter of Jharkhand Rural Development and Panchayati Raj Minister Dipika Pandey Singh, was among four people killed when their car rammed into a stationary truck on Marine Drive Road in Jamshedpur. The accident occurred in the early hours, also claiming the lives of Sarthak Agarwal, Naman Gupta, and Vanshika Khandelwal.
The Vvaan weaves an old-fashioned yarn of spiritual beliefs against a theme of folklore horror that detours into an action-packed, bombastic Telugu supernatural territory concluding in a part harmless, part tedious watch, notes Sukanya Verma.
In the latest Rediff series exploring non-traditional careers, Sandeep Goel, professor and dean-research at MDI, Gurgaon lists a range of high-growth finance careers beyond CA, CS, and MBA degrees.
The BRICS grouping has fully endorsed India's demand for zero-tolerance against terrorism and rejected double standards in combating the menace. Their declaration condemned terror attacks in Jammu and Kashmir and reaffirmed commitment to holding terrorists accountable under international law.
The National Stock Exchange marked its stock market debut at the Bombay Stock Exchange on September 24, 2026, with a traditional gong-ringing ceremony.
United States Treasury Secretary Scott Bessent has warned that Iranian airlines could be effectively shut out of international travel from Wednesday, September 23, as Washington threatens secondary sanctions against foreign companies that continue providing services to Iran's carriers.
The BJP spent Rs 286.99 crore on the West Bengal elections, surpassing the Congress's total expenditure of Rs 248.55 crore across five states and a Union territory. The report details spending by major parties in West Bengal, Kerala, Assam, Tamil Nadu, and Puducherry, highlighting significant financial disparities and campaign outlays.
A finance company in Thane, Maharashtra, has reported being defrauded of Rs 25.96 lakh by five individuals who allegedly mortgaged fake jewellery to obtain loans. Police are investigating the case, which reportedly occurred in 2025.
The Indian government has introduced a 0.4% transaction fee on UPI payments above Rs 2,000 for merchants, effective October 15, sparking a political row. The Congress party has labelled it a "Modi tax" and accused the government of succumbing to US pressure, while the BJP has defended the move, clarifying that consumers will not be charged and small vendors are protected. The finance ministry reiterated that the charge is on merchants, not customers.
The CBI has registered a case against USA-based Christian missionary group The Timothy Initiative (TTI) and its associates for allegedly misusing Rs 92.55 crore in foreign funds for missionary activities, violating the Foreign Contribution (Regulation) Act, 2010. The case, based on a Union Home Ministry complaint and ED investigation, highlights the alleged use of foreign debit cards and attempts to conceal identities.
Finance Minister Nirmala Sitharaman criticised commentators who express pessimism about India's demographic dividend, asserting that the country's youth are actively driving economic growth and innovation. She also highlighted the dual nature of AI and the need for robust safeguards in emerging technologies like quantum computing to balance innovation with safety.
'The way the government behaves, sometimes I ask myself: Are not Tamils Sri Lankans too? Why do you discriminate so much?'
Union Finance Minister Nirmala Sitharaman called upon 'Gen Z' and 'Gen Alpha' to assume leadership, prioritise the nation, and contribute to its growth, rather than questioning what the country has done for them.
The Congress party has accused the Indian government of imposing new charges on UPI transactions due to pressure from the United States, specifically to benefit American card companies. The opposition party demanded the withdrawal of the decision, calling it "anti-national" and alleging it fills the coffers of US firms while burdening Indian citizens. The government, however, clarified that the Merchant Discount Rate (MDR) charges apply only to commercial transactions above Rs 2,000 and are not levied on consumers, a stance supported by the BJP which accused Congress of spreading "fake news".
India's passenger vehicle (PV) exports saw a 17 per cent year-on-year decline in August, contrasting sharply with a 36.5 per cent surge in domestic dispatches, which reached a record high for the month as automakers prepared for the festive season.
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 NCP (SP) has demanded a complete rollback of the 0.4 per cent Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000, effective October 15. The party termed the move a "direct assault" on small traders and shopkeepers, accusing the Modi government of "double standards" by burdening small merchants while large industrialists benefit from loan write-offs.
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.
Chinese President Xi Jinping began his second state visit to the US, meeting President Donald Trump at the White House. Both leaders expressed a desire for a better future for their nations, with Xi emphasising cooperation over confrontation and the avoidance of the "Thucydides Trap." Discussions also touched upon artificial intelligence governance and the extension of a trade truce. The visit was notably marked by a media boycott of White House coverage due to a dispute over press access.
Zoho has launched Zia Chat, a unified AI interface designed to streamline business operations across various functions by providing a single conversational platform for information, lead generation, and data analysis. Concurrently, the company has expanded into vertical SaaS with seven new industry-specific applications for sectors like retail, automotive, healthcare, and education, reinforcing its position as a homegrown alternative to global tech giants.
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.
India's Chief Economic Advisor V Anantha Nageswaran stated that the country's balance of payments (BoP) pressure is expected to remain a continuous challenge due to rising imports, commodity dependence, high global interest rates, and intense competition for capital.
The Supreme Court has noted that the Special Investigation Team (SIT) probing alleged embezzlement at the Ram temple in Ayodhya identified 105 instances of unauthorised currency removal from the counting room. While no discrepancies were found in valuable articles like silver bricks, eight accused have been identified, and a chargesheet is expected soon. The investigation involved examining CCTV footage, financial records, and witness statements.
Sashidhar Jagdishan, the managing director and CEO of HDFC Bank, has announced his decision not to seek reappointment and will retire at the end of his current term on October 26, concluding a six-year tenure marked by significant regulatory and governance challenges, including RBI restrictions, a major merger, and scrutiny over alleged illegal payments.
Chief Election Commissioner Gyanesh Kumar is facing significant scrutiny after an investigation revealed objections from his fellow election commissioners, Sukhbir Singh Sandhu and Vivek Joshi, regarding decisions made during the Special Intensive Revision of voter lists. The objections, reportedly made at least 14 times, concerned issues like changes to voter registration forms and centralised control over electoral roll databases, intensifying criticism of Kumar's tenure and the EC's impartiality.
State Bank of India (SBI) is developing an innovative solution to assess the creditworthiness of small businesses lacking GST registration by utilising UPI transaction data. This initiative aims to provide end-to-end digital loans within a day, addressing the financial exclusion of many small enterprises.
Former NITI Aayog vice-chairman Rajiv Kumar has urged the government to maintain zero-fee UPI transactions for several more years, arguing that the benefits of UPI as a public good outweigh the costs. This comes amidst the government's recent decision to introduce a 0.4% fee on person-to-merchant UPI transactions above Rs 2,000 from October 15, a move that has drawn criticism.
The Chintan Shivir is expected to discuss the progress of government schemes, policy implementation, time management, inter-ministerial coordination, and public service delivery, among others.
