The Indian government has challenged Congress leader Rahul Gandhi's criticism of levying fees on UPI payments above Rs 2,000 to merchants. The government highlighted that a parliamentary standing committee, which included Congress MPs, had previously backed a tiered Merchant Discount Rate (MDR) framework for UPI. This move aims to ensure the financial sustainability of the UPI ecosystem and reduce its dependence on government subsidies, a concern raised by the committee due to the significant funding gap between allocations and operational costs.
What happens to my money if the market falls off a cliff tomorrow? Sandipan Roy, CIO, Motilal Oswal Private Wealth has the answer.
The Supreme Court has directed the Indian Coast Guard (ICG) to consider granting permanent commission to Short Service Appointee (SSA) officer Priyanka Tyagi and other similarly placed women, pending vigilance clearance. This follows earlier strong remarks from the court against the ICG's "vague" and "arbitrary" policy regarding women officers, emphasising gender equality in the armed forces.
Asian Games debutant Kartik Karkera, an orthopaedic doctor, expresses confidence in securing a podium finish in the men's marathon despite facing faster international competitors. He believes the challenging heat and humidity will make it a tactical race, playing to his strengths, and prioritises a medal over a personal best. Karkera also highlights the advantage of his 1500m background and medical knowledge in his training.
Prime Minister Narendra Modi has urged the fintech sector to expand the global reach of India's Unified Payments Interface (UPI), connecting it with local systems in other countries to help the diaspora save on remittance costs.
Indian cricket legend Sachin Tendulkar lauded American tennis player Ben Shelton's thrilling five-set victory over Carlos Alcaraz in the US Open quarter-finals, while also expressing sympathy for Alcaraz's tough luck after returning from injury.
The Supreme Court has refused to quash proceedings under the Prevention of Corruption Act against former NSE MD and CEO Chitra Ramkrishna, stating that the trial court will determine whether she can be considered a 'public servant' under the Act.
Abdul Ghafoori has been arrested in Toronto for the alleged first-degree murder of his partner, Indian national Himanshi Khurana. Ghafoori was apprehended at a Toronto airport after being on the run for over seven months. Khurana was found dead in December last year, and police had identified Ghafoori as a suspect in her homicide.
Bangladesh has once again sought the extradition of former premier Sheikh Hasina from India during High Commissioner Dinesh Trivedi's first meeting with Prime Minister Tarique Rahman in Dhaka, amidst fresh strains in ties between the two countries following Hasina's controversial virtual media interaction in New Delhi.
Hardik Pandya, who has been sidelined from the Indian team for the last 7-8 months due to a quadriceps injury, has been enjoying recovery time with his loved one and away from the limelight.
In July, tension emerged in Taksing, a remote village in the Upper Subansiri district of Arunachal Pradesh after locals sighted PLA soldiers.
A special POCSO court in Thane has convicted a 20-year-old man for sexually assaulting a 16-year-old girl, sentencing him to three years of rigorous imprisonment. The court relied heavily on the victim's "clear and cogent" testimony and rejected the plea for probation, citing the fear and insecurity caused by the accused's actions.
The Unique Identification Authority of India (UIDAI) is actively working on plans to expand Aadhaar's reach globally, particularly to benefit non-resident Indians (NRIs) and overseas citizens of India (OCIs). This initiative aims to enhance interoperability, attract investment, and streamline digital identification processes, with new guidelines for merchants and products like Aadhaar Lite also in development.
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 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.
India has dispatched a fresh tranche of 35 tonnes of humanitarian aid to flood-ravaged Nepal, marking the eighth special flight since devastating flash floods struck the Himalayan nation on August 26. The aid includes relief materials, specialised rescue equipment, and expert personnel, with Indian teams actively assisting in tunnel rescue operations and forensic identification of victims. The death toll has climbed to 1,365, and thousands remain missing as India reaffirms its commitment to supporting Nepal's recovery efforts.
The Indian Olympic Association has formed a four-member independent inquiry committee, led by retired High Court judge Deepa Sharma, to investigate sexual harassment allegations against Hockey India secretary Bhola Nath Singh.
The Supreme Court has directed the Jammu and Kashmir administration to issue a no-objection certificate and relieving order to international water sports coach Bilquis Mir, enabling her to join the Indian National Kayaking and Canoeing Team as chief coach for the Asian Games. This ruling came after PDP chief Mehbooba Mufti criticised the bureaucratic hurdles faced by Mir, highlighting systemic issues within the administration.
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.
India's Maaya Rajeshwaran Revathi was defeated in the second round of the US Open junior singles by Arina Malygina. This loss further diminished India's presence at the tournament, following earlier exits by Arnav Paparkar in both singles and doubles.
A Kishore Kumar song, a birthday cake, a prince's break from protocol to thank his driver, a Persian painting on the ceiling of the presidential residence -- the BRICS Summit had many memorable moments.
The KSLTA World Tennis Junior J30 Bengaluru is set to begin with qualifying rounds, offering promising young Indian tennis players a chance to compete for main draw berths. The event, hosted by the Karnataka State Lawn Tennis Association, will feature both boys' and girls' qualifying draws, with wildcards providing local talent an opportunity to gain international experience and ITF Junior ranking points.
Go once. You will know, even before you board the flight home, that you will return.
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.
AI has taken Indian sports stars back to the 1980s, and the results are getting plenty of attention online. From retro hairstyles to colourful outfits, cricketers and athletes are enjoying the viral trend and sharing their vintage avatars with fans.
Sanjukta Parashar, an IPS officer with a formidable background in counter-insurgency, has made history by becoming the first woman inspector general of the CRPF's elite CoBRA force.
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.
The Congress party has strongly refuted government claims that its MPs on the Parliament Standing Committee on Finance supported a fee on high-value UPI payments. Congress leaders, including Gaurav Gogoi and Manish Tewari, stated that the "UPI tax" proposal was not specifically discussed by the committee, accusing the Modi government of diverting attention from public backlash and appeasing US companies. The government, however, cited the committee's report which pressed for a tiered Merchant Discount Rate (MDR) framework.
Indian men's doubles pair Satwiksairaj Rankireddy and Chirag Shetty won the China Masters title, defeating China's He Ji Ting and Ren Xiang Yu in a hard-fought final. This marks their second title of the season, adding to their Singapore Open Super 750 victory.
Indian benchmark indices closed mixed, with the Sensex gaining 113.61 points to 78,079.96 and the Nifty falling 40.10 points to 24,395.85, as elevated crude prices and ongoing geopolitical uncertainty in the Middle East made investors cautious.
Indian benchmark indices closed mixed, with the Sensex gaining 113.61 points to 78,079.96 and the Nifty falling 40.10 points to 24,395.85, as elevated crude prices and ongoing geopolitical uncertainty in the Middle East made investors cautious.
Tanya Chaudhary shattered the women's hammer throw national record with a 68.35m throw at the Indian Athletics Series Final, while Avinash Sable secured an emphatic win in the men's 3000m steeplechase in his first race in over a year. Both athletes, who are part of the Asian Games team, received Rs 1 lakh prize money from the lucrative event. Chaudhary expressed her long-standing pursuit of the record and her focus on technique, while Sable aims to compete in both 3000m steeplechase and 5000m at the Asian Games after recovering from an ACL surgery.
Indian pacer Arshdeep Singh discusses his aspirations for Test cricket, acknowledging his limited first-class appearances but asserting his readiness. He highlights the importance of understanding body mechanics, managing workload, and adapting to various pitch conditions. Arshdeep also touches upon the strong contingent of Punjab players in Indian cricket and his preparations for upcoming international assignments like the T20I series against Afghanistan and the Asian Games.
Ambitious India out to match Hangzhou benchmark in Nagoya.
FATF Vice-President Vivek Aggarwal has urged the fintech industry to increase investments to combat emerging threats from AI, scam compounds, virtual digital assets, and quantum computing. He warned that these technological challenges pose a significant risk to India's rapid growth in the fintech sector, highlighting a current lack of adequate investment and risk realisation within the industry.
Indian benchmark indices, Sensex and Nifty, traded flat in early deals due to elevated crude oil prices exceeding USD 100 per barrel and persistent geopolitical tensions, which subdued investor risk appetite.
The Indian Olympic Association has formed a four-member independent inquiry committee, led by retired High Court judge Deepa Sharma, to investigate sexual harassment allegations against Hockey India secretary Bhola Nath Singh. The probe follows a complaint by former women's team captain Asunta Lakra, who accused Singh of threats after she raised concerns about alleged harassment of girls in Jharkhand.
10-year-old Delhi shooter Nyra Sharma has made history by becoming the youngest Indian to qualify for the National Shooting Championship in the 10m air rifle category. Her rapid rise in competitive shooting, achieving this feat in only her third competition, highlights her exceptional talent and dedication.
Rainfall during the monsoon season so far, from June 1 to September 13, has been 15 per cent below normal.
Kerala's Ancy Sojan clinched the women's long jump title at the Indian Athletics Series Final, expressing strong confidence for the upcoming Asian Games where she aims to win gold and experience the national anthem on the podium.
