Axis Bank MD & CEO Amitabh Chaudhry has cautioned that the surge in FCNR(B) deposits could lead to 'abnormal lending' as banks seek to deploy excess liquidity, while also hinting at a potential interest rate hike in the near future.
Australia A has announced a 14-member squad for their upcoming series against India A in Puducherry. The tour, featuring both four-day and one-day matches, is crucial for exposing players to subcontinental conditions and preparing them for future senior team tours to India, including a Test series next year. The squad includes several players with prior international experience.
Indian football icon I M Vijayan has voiced his enthusiasm for the upcoming India-Brazil international friendly in Kolkata on October 3. He believes the visit by the five-time World Cup champions will provide invaluable experience and lasting memories for young Indian players, significantly boosting the sport's profile and attracting global attention to Indian football.
India's economy in FY26 saw significant momentum from investment demand, with gross fixed capital formation (GFCF) accelerating to 8.2 per cent, while private final consumption expenditure (PFCE) also grew steadily, according to provisional estimates.
Foreign portfolio investors (FPIs) turned net sellers in the first week of September, withdrawing Rs 7,443 crore from Indian equities, driven by rising crude oil prices, increasing US bond yields, and a strong dollar.
Jio Platforms Ltd, the digital services arm of Reliance Industries, has secured Sebi's final observation to launch an initial public offering (IPO) aiming to raise approximately USD 4 billion (Rs 37,700 crore), potentially making it the largest IPO in India's history.
Unified Payments Interface (UPI) transactions in India reached Rs 29.8 lakh crore in August, approaching record levels. Volume also hit a new high of 24.51 billion transactions, driven by festive activities like Raksha Bandhan. The digital payment system continues its rapid growth, expanding its global presence to 11 countries, with further growth anticipated during the upcoming festive season and new use cases like credit on UPI.
Union Mines Minister G Kishan Reddy announced that the Indian government is intensifying its support for private mining entrepreneurs seeking critical mineral opportunities abroad, working with the Ministry of External Affairs and appointing mineral officers in embassies to facilitate these efforts.
National Investment and Infrastructure Fund Limited (NIIF) has appointed Gauravjit Singh as managing partner to lead its global capital formation efforts. Simultaneously, PB Fintech's payment aggregator platform, PB Pay, has gone live, offering consolidated payment acceptance for merchants. In a move to enhance trade efficiency, the Directorate General of Foreign Trade (DGFT) has introduced open API integration for Certificate of Origin, allowing exporters to streamline their application processes.
The National Payments Corporation of India (NPCI) stated that the Merchant Discount Rate (MDR) "is distributed only amongst the UPI ecosystem, to further invest into infrastructure resilience, innovation, cybersecurity (protecting the UPI infrastructure with banks and non-banks) and customer service."
Dr Komal Verma Saluja, a final-year student at Government Medical College Kota (GMCK), has been awarded the "Researcher of the Year Award 2026" by the India chapter of the American College of Physicians (ACP). She is the youngest and first medical student to receive this prestigious accolade. Saluja's research includes identifying an imaging biomarker for early cognitive decline in type 2 diabetes and developing a diagnostic method for fatty liver disease using echocardiography. Her achievements have brought pride to GMCK and highlight the need for more novel diagnostic and therapeutic research in 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.
Tempsens Instruments India has emerged as the strongest mainboard IPO debutant of calendar year 2026 so far, delivering a 95.55 per cent gain on its listing day, surpassing all previous top performers and contributing to August being the strongest month for listing gains this year.
The Congress party has criticised the government's recent notification regarding UPI transactions, alleging it paves the way for users to be charged fees, particularly for transactions above Rs 2,000. The party claims the government lacks transparency and questions if the move is to benefit American firms. The government, however, states that charges are necessary for the system's sustainability and infrastructure upgrades, with the Finance Minister clarifying that Merchant Discount Rate (MDR) applies to merchants, not customers.
Used-car financing has seen significant growth, but borrowers must be aware of higher interest rates, conservative loan-to-value ratios, shorter tenures, and the risk of owing more than the car's depreciated value. Understanding these factors is crucial for making informed decisions.
Amazon CEO Andy Jassy announced an additional USD 13 billion investment in India, bringing the company's total capital commitment to USD 48 billion by 2030. This significant investment will primarily focus on expanding AI and cloud infrastructure, supporting job creation, boosting e-commerce exports, and digitising small businesses, aligning with India's growing digital economy.
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.
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.
BRICS finance ministers and central bank governors have called for increased representation of emerging-market and developing economies in the IMF and World Bank, while also criticising unilateral tariffs and trade measures, as the expanded bloc aims to bolster financial cooperation amidst global fragmentation.
Smallcap funds topped the net inflow chart for the second consecutive month, as investors poured record Rs 7,973 crore into one of the best-performing MF categories.
Despite near gender parity in basic bank account ownership, women in India remain significantly underrepresented in the growing platform economy due to gaps in digital financial capability and access to credit, according to a joint report by the International Labour Organization and National Council of Applied Economic Research.
World Cup-winning Spanish footballer Gerard Pique has become a strategic shareholder in the Global Chess League franchise American Gambits. Pique, known for his illustrious football career, expressed his long-standing fascination with chess and his ambition to elevate the sport's global appeal. The fourth edition of the Global Chess League, featuring top grandmasters, is scheduled for September 3-13.
The FCNR (B) stratagem relies on using public money to defend the rupee. The State subsidises foreign borrowing to attract dollars. This tool requires large-scale borrowing to make a material difference against a gross external flow of $11 billion a day. A commensurately large fiscal cost falls upon the exchequer. The ministry of finance will choose how much it is willing to spend in exchange for this round number, points out Ajay Shah.
The BRICS summit in New Delhi brings together leaders from major emerging economies to address global challenges like trade disputes, geopolitical upheavals, and the economic impact of conflicts in Ukraine and West Asia. India, as chair, aims to position BRICS as an economic growth engine, focusing on the Global South's food, energy, and supply chain security. The summit also highlights the grouping's expansion and its growing influence in global governance.
BAFs seek to offer a smoother experience across market cycles, not the full upside of a bull market.
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.
HCLTech, India's third-largest IT services company, announced plans to establish a global technology centre and an AI-optimised data centre in Bhubaneswar, Odisha, with a total investment of approximately Rs 15,000 crore, marking its entry into the AI infrastructure business.
Russian President Vladimir Putin has arrived in India for a three-day visit to attend the BRICS summit and hold bilateral talks with Prime Minister Narendra Modi, focusing on expanding trade, investment, and energy cooperation amidst global geopolitical challenges.
'Regulations give a particular minimum amount of shares to be given in the OFS or IPO -- without which one cannot do the IPO.' 'We got that number on the day of filing of updated DRHP -- sufficient for us to go live with the IPO.'
The Indian government has introduced a 0.4% transaction fee on Unified Payments Interface (UPI) payments exceeding Rs 2,000 for merchants, effective October 15, marking the end of nearly six years of free service. Person-to-person transfers and small-value transactions below Rs 2,000 remain free. The new Merchant Discount Rate (MDR) is capped at Rs 300 for transactions above Rs 75,000, with differentiated rates for essential sectors and investments, and safeguards to prevent costs from being passed to consumers.
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 new report, the Digital Credit and Inclusion Index (DCII) 2026, reveals that Tier-2 cities are spearheading digital credit adoption in India. The study, a collaboration between Pahle India Foundation and Amazon Pay, highlights that salaried women are borrowing more than men and that digital credit is primarily used for consumption, with limited productive use.
'Improved law and order and transparent governance have helped change UP's investment image.'
Microsoft has launched its fourth cloud region in India, located in Hyderabad, significantly expanding its hyperscale cloud presence. This move is part of a USD 20.5-billion investment in India's digital and AI infrastructure, aiming to support the country's rapid digital growth and meet increasing demand from major enterprises.
At least four to five privately placed infrastructure investment trusts (Invits) are expected to transition to public listings by the end of the 2026-27 financial year, significantly increasing the number of publicly traded Invits to 12-14, according to N S Venkatesh, CEO of the Bharat Invits Association (BIA).
Eighteen mainboard IPOs raised Rs 28,976 crore and carry Rs 2.48 trillion of market value -- 8.6 times the capital raised.
The government is introducing a 0.4% Merchant Discount Rate (MDR) on UPI person-to-merchant payments above Rs 2,000, effective October 15. This move ends the zero-MDR regime, aiming to fund UPI infrastructure and sustainability, as the previous government subsidy was insufficient to cover operational costs. Payments between individuals and most everyday merchant transactions will remain free.
Amazon CEO Andy Jassy met Prime Minister Narendra Modi and announced the company's intention to invest an additional USD 13 billion in India by 2030, focusing on expanding AI and cloud infrastructure.
Ahead of President Vladimir Putin's visit to India for the BRICS summit, Russia has expressed support for New Delhi's peace initiatives to resolve the Ukraine conflict. Discussions between Putin and PM Modi will cover defence, energy, technology, and the repatriation of Indian nationals from the Russian military, alongside addressing trade and investment ties.
MS Dhoni's reported bid for a stake in Chennai Super Kings has been denied by the franchise, which said the former captain never approached them about buying a share in the IPL team.
