The Reserve Bank of India (RBI) has endorsed the introduction of a Merchant Discount Rate (MDR) on UPI transactions exceeding Rs 2,000, effective October 15. This move, which levies a 0.4 per cent fee on merchant payments above the threshold, aims to bolster the long-term sustainability and growth of India's digital payments ecosystem. The RBI clarified that person-to-person (P2P) transactions and small person-to-merchant (P2M) payments below Rs 2,000 will remain free for users, ensuring no direct charge on customers.
A report by policy think tank The Dialogue reveals that India's artificial intelligence (AI) ecosystem is primarily constrained by a shortage of skilled talent and a lack of data standardisation, rather than market concentration. The study, which surveyed 308 stakeholders, found that talent availability and data usability are major concerns, with a significant reliance on open-source AI models.
The BCCI has significantly revised the pay structure for umpires and match referees after a decade, introducing new categories and substantially increasing per-day fees. A merit-based promotion and relegation system has also been implemented to ensure high standards in domestic cricket officiating. Additionally, the board addressed its stance on the National Sports Governance Act, updated age-fraud policies, and called for support for physically challenged cricketers.
Vice President CP Radhakrishnan launched Gnani Artha, an end-to-end sovereign AI stack for Indian enterprises and public institutions. He emphasised that new technologies, including AI, will enhance ease of work and create more jobs, drawing parallels with the IT industry's growth. The initiative, backed by the India AI Mission, aims for self-reliance and includes the Gnani Evon v3.3 language model and Gnani Plexus AI platform, offering cost-effective Indic language capabilities.
Vice President CP Radhakrishnan launched Gnani Artha, an end-to-end sovereign AI stack for Indian enterprises and public institutions. He emphasised that new technologies, including AI, will enhance ease of work and create more jobs, drawing parallels with the IT industry's growth. The initiative, backed by the India AI Mission, aims for self-reliance and includes the Gnani Evon v3.3 language model and Gnani Plexus AI platform, offering cost-effective Indic language capabilities.
India is set to import 1 million tonnes of raw sugar at zero duty after domestic stocks fell sharply and prices surged ahead of the festival season.
The BRICS Youth Ministers' Meeting, organised by India's Sports Ministry, successfully concluded in Visakhapatnam. Presided over by Sports Minister Mansukh Mandaviya, the meeting built upon previous youth engagements, focusing on developing young leaders and promoting youth cooperation among BRICS nations.
The Union Cabinet has approved a significant increase in the mandatory EPFO wage ceiling from Rs 15,000 to Rs 25,000 per month, a move expected to bring over 51 lakh additional employees under mandatory social security coverage.
The BJP has narrowly defeated the Congress in the Rajasthan urban local body elections by less than one percentage point. Independent candidates secured a significant share of votes, and NOTA outperformed several smaller parties. Prime Minister Modi lauded the BJP's performance, attributing it to public support for good governance.
India's Consumer Affairs Secretary Nidhi Khare announced that cab aggregators have been ordered to cease advance tipping options, deeming the practice misleading and unfair. This follows the Central Consumer Protection Authority (CCPA) imposing a Rs 10 lakh penalty on Rapido for unfair business practices, including advance tipping and "dark patterns" that pressure users to pay more. Investigations into Uber and Ola are ongoing, with the government emphasizing that tipping should be voluntary and post-ride.
The Indian coal ministry announced that 147 commercial coal blocks auctioned since 2020 are expected to attract approximately 55,000 crore in capital investment, generate 490,000 jobs, and contribute significantly to state revenues.
Prime Minister Narendra Modi presented Russian President Vladimir Putin with a Russian translation of the Thirukkural, the classical Tamil work by poet-philosopher Thiruvalluvar, ahead of the BRICS Summit in New Delhi.
The All India Football Federation (AIFF) has opened applications for its Sportspersons of Outstanding Merit (SOM) roster, a crucial step under the newly adopted National Sports Governance Act. This initiative aims to induct retired players into the federation's General Body, ensuring greater representation and direct involvement in governance. The process outlines specific eligibility criteria across various tiers of sporting achievement and allows direct applications, bypassing state association endorsements.
The Supreme Court has expressed shock over numerous deaths, including unnatural ones, in relief camps for internally displaced persons (IDPs) in Manipur. It directed the state's chief secretary to explain steps taken for investigation, criminal proceedings, and ensuring safety, questioning low compensation and incomplete post-mortems. The court also sought a report from MSLSA and urged expeditious trials in violence-related cases.
The CPI and CPI(M) have announced they will contest one Assembly segment each in the upcoming Tamil Nadu bypolls, while continuing their outside support for the ruling TVK. This decision creates a five-cornered contest and highlights the Left parties' independent stance, aimed at preventing indirect BJP influence and addressing public issues.
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.
Xi brought in asymmetrical power play by stating that India should have 'strategic cognition' and 'strategic judgement made on the basis of the stage of development the two countries are at'. This is a very nuanced way of asserting China's coercive diplomatic posture and reflects Beijing's penchant to unleash border instability at will, restrict rare earth metal exports, exert pressure on India at global and regional orders, asserts China expert Srikanth Kondapalli.
Nepal's Hindu groups have sought an all-party discussion on restoring Hindu-nation status within three months.
TRAI Chairman Anil Kumar Lahoti has called for robust safeguards, human oversight, and intervention capabilities as Artificial Intelligence becomes increasingly integrated into telecom networks. While acknowledging AI's potential to transform network management and threat detection, Lahoti stressed the need for responsible AI deployment, risk assessments, and clear accountability to ensure consumer trust and prevent misuse, especially in combating online fraud.
India's wholesale price-based inflation (WPI) increased to 9.92 per cent in August, up from 9.78 per cent in July, primarily due to rising prices across food, manufactured items, and fuel and power sectors.
Ravi Shastri lauded Prime Minister Narendra Modi for taking a leading role in international diplomacy during the ongoing BRICS Summit in New Delhi.
Maharashtra Deputy Chief Minister Eknath Shinde concluded a two-day visit to the UK, focusing on attracting foreign direct investment and promoting the state's economic potential. His engagements included receiving leadership awards, meeting with sports figures like Virat Kohli to discuss Olympic aspirations, and appealing to British investors to bring technology and capital to Maharashtra, leveraging the India-UK FTA.
The comparisons show where last year's cutoffs are still a usable guide and where you need to reset your expectations before Round 2.
Senior Congress leader Shashi Tharoor has articulated India's position on BRICS, advocating for it to be a "non-West, but not anti-West" platform, a stance he believes is crucial for India's national interest. He highlighted the prestige of hosting the BRICS summit, India's responsibility to represent the Global South, and the significance of bilateral meetings, particularly with China and Russia. Tharoor also addressed the strained India-China relations, citing border issues and trade leverage, and discussed the challenges within BRICS, including difficulties in achieving consensus on global issues and trade imbalances, while also considering the need for diversified international relations amidst unpredictable US sanctions.
Prime Minister Narendra Modi, addressing the BRICS summit, called for a fundamental shift in global governance, advocating for the replacement of the current 'pyramid of privilege' with a 'platform of partnership' where the Global South becomes a 'rule shaper' rather than a 'rule follower'.
Russia on Monday assured India of uninterrupted supply of energy and fertilisers amid disruption caused by the West Asia crisis, as External Affairs Minister S Jaishankar met President Vladimir Putin in Moscow and held talks with his key interlocutors.
'It is not about a place with fewer incidents of violence but a city where women have real agency in planning their daily lives.'
'Members of Indian family businesses have considered it their birthright to work there and responsibility to take care of it.'
Union Minister Ramdas Athawale stated that opposing reservation is unconstitutional and that the policy would be given up if casteism is eliminated. He highlighted the historical context of reservations for SC/ST and OBCs, and the Modi government's EWS quota. Athawale also criticised the opposition, praised government achievements, and discussed various welfare schemes and infrastructure projects in Chhattisgarh.
The Delhi Half Marathon, a World Athletics Gold Label Race, has unveiled its Finisher's Medal for its 21st edition.
Anant Nag has dedicated the Dadasaheb Phalke Award 2024 to the people and unique cultural environment of Karnataka, crediting the state for his unparalleled success in both art and commercial films.
HarperCollins India has announced the publication of Congress leader Sonia Gandhi's memoir, "Belonging: A Journey of Love," in India on November 10. The highly anticipated book will offer insights into her personal life and India's political journey, covering her childhood, marriage into the Nehru-Gandhi family, and entry into politics.
'An instruction came from somebody in Delhi saying, "don't go with the launch".'
Rabiul Alam Chowdhury, Mamata Banerjee's party's candidate for the Rejinagar by-election, initially announced his withdrawal from the contest due to harassment of workers and symbol unfamiliarity, but retracted his statement within hours after intervention from the party's top leadership and Mamata Banerjee herself, confirming he will now contest the October 6 poll.
Tensions have emerged within Jammu and Kashmir's ruling alliance between the National Conference and Congress over the full rendition of Vande Mataram at an official state event. While the NC defends it as a "statutory obligation," the Congress expresses strong disapproval, citing historical resolutions and the need to respect India's pluralistic ethos.
There is no answer to the question of how IN-SPACe invited EOIs for ISRO's mature rockets and whether it was based on any government policy decision.
Olympic silver medallist Vijay Kumar has called for an independent review of the National Rifle Association of India's (NRAI) coaching appointments, citing concerns about transparency, eligibility criteria, and potential conflicts of interest. The NRAI, however, asserts that appointments are merit-based and views Kumar's concerns as 'sour grapes' after his own non-selection.
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.
Olympic silver medallist Vijay Kumar has urged the 30-member Indian shooting contingent for the Asian Games to prioritise individual medals over team events. He also highlighted the need for significant improvements in coaching, advocating for more former international medallists in the system, and stressed the importance of better grassroots talent identification, drawing comparisons with China. Kumar also commented on the void left by coach Jaspal Rana's death and questioned recent selection policies.
Global brokerage Jefferies forecasts a double-digit compound annual growth rate (CAGR) for India's defence spending, estimating a cumulative domestic opportunity of over $60 billion across four years, driven by geopolitical tensions and the government's indigenisation push.
