The Finance Ministry has refuted allegations that US pressure influenced the decision to levy a 0.4 per cent Merchant Discount Rate (MDR) on select UPI payments. The ministry clarified that the NPCI guidelines prioritise RuPay credit cards on UPI to promote domestic alternatives and ensure a self-sustaining revenue model for smaller domestic companies, countering claims of favouring foreign payment providers.
Five southern states are stepping up coordination on delimitation, tax devolution and language issues, reviving calls for a stronger collective South platform.
The central government has introduced a 0.4 per cent fee on UPI transactions exceeding Rs 2,000, prompting traders' associations to advocate for cash payments to avoid additional costs on digital payments. This move ends the zero-Merchant Discount Rate (MDR) regime, with traders expressing concerns about operating on tight margins and the potential for increased charges.
The Retailers Association of India (RAI) has voiced concerns that the government's new 0.4 per cent Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000 could reverse the progress of digital payment adoption among small retailers. This fee, effective October 15, places the burden on merchants operating on thin margins, potentially pushing them back to cash transactions and undermining the government's formalisation agenda, especially ahead of the festive season.
'I don't think the government will sacrifice such a fine institution for monetary gains.'
The Indian government has introduced a 0.4% fee on UPI transfers above Rs 2,000 made to merchants, effective October 15, ending nearly six years of free merchant payments. This move led to initial rallies in fintech stocks like Paytm and Mobikwik, though some later pared gains. Person-to-person transactions and small payments remain free for customers, with the fee being a Merchant Discount Rate (MDR).
Hunkkaar: The Roar is a fairly familiar fight for justice that builds far too many flimsy narratives around its core conflict, runs out of ammunition and speaks out of turn in a needlessly cussing tone, notes Sukanya Verma.
If a bank sold the policy, complain to its grievance cell and, if necessary, escalate the complaint to the Reserve Bank of India Ombudsman.
The ongoing US conflict with Iran has cost the Trump administration an estimated $45.1 billion, according to a Pentagon estimate provided to the US Congress on Friday, CNN reported, citing two sources familiar with the matter.
Madhya Pradesh BJP MLA Usha Thakur has sparked controversy by claiming that 4.5 lakh girls elope with non-Hindu men during Garba celebrations annually, leading to demographic change. She advocated banning non-Hindus from Garba pandals, a stance supported by the VHP, which suggests Aadhaar checks to prevent "love jihad." The Congress has condemned her remarks, demanding an apology, and highlighted similar controversial statements from another BJP MLA.
'There are some films which are fully focused on violence and have violence for the sake of violence. The Paradise is not like that. Our film is a solid drama.'
India's economy is projected to lose momentum in the second half of fiscal 2026-27, with tighter financial conditions, elevated energy prices, and broadening inflation pressures posing significant risks, according to DBS Bank economist Radhika Rao.
'UPI has been free since Covid, so why is the government charging us now?'
Airtel Africa's mobile payments arm, Airtel Money, has filed for an initial public offering (IPO) on the London Stock Exchange, with the International Finance Corporation (IFC) agreeing to purchase shares worth up to $90 million at the final offer price.
'It is a blunt and dangerous attempt to pressure India to sign BTA on one-sided terms.'
Sreeti Mukerhi's cliched coming-of-age delivers its moments of sass but never quite defines the age of confusion, sighs Sukanya Verma.
RBI Deputy Governor S C Murmu stated that the introduction of merchant discount rate (MDR) on UPI transactions is unlikely to cause a shift back to cash, despite some concerns, emphasising that MDR will help the payments ecosystem recover costs.
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.
India needs to move beyond ease and cost of doing business and focus on the "speed of doing business" as the next leg of reforms to sustain economic growth and private investment, Confederation of Indian Industry (CII) President R Mukundan said.
Indian cricket fans and former players questioned India's decision to leave Vaibhav Sooryavanshi out of the XI for the second T20I against Afghanistan.
The Indian government has confirmed there will be no rollback of the 0.4 per cent Merchant Discount Rate (MDR) charges on Unified Payments Interface (UPI) transactions exceeding Rs 2,000, effective from October 15. Despite opposition, officials state the decision aims to make the UPI ecosystem self-sustainable and secure, with charges applying only to merchant payments, not person-to-person transactions.
Dhoomakethu has a fun time-loop premise, a game Sajin Gopu and some genuinely funny moments, but runs out of steam long before Kuttan can break free.
Opposition parties, including Congress, TMC, and RJD, have strongly criticised the government's decision to impose a 0.4% Merchant Discount Rate (MDR) on UPI transactions exceeding Rs 2,000 made to merchants. They allege the move is a result of "American imperialism" and will lead to increased commodity prices, while the government maintains the charge is on merchants and not consumers, with person-to-person transactions remaining free.
Dewald "AB Baby" Brevis equalled JP Duminy's 71 sixes in just 35 T20Is, starred with 226 series runs, won Player of the Series, and helped South Africa clinch the title.
Hyundai Motor India is set to outpace the broader passenger vehicle market, projecting an 8-10 per cent domestic sales growth in H2FY27, fueled by strategic launches of a new mid-size SUV and a dedicated electric vehicle, alongside increased production capacity.
Xiaomi has unveiled its first mid-sized book-style foldable in China, called the Xiaomi 18 Fold. Designed to blend compact dimensions with a larger viewing area, the handset folds down to roughly passport size and opens into a 7.58-inch tablet-style screen. Despite its larger inner display, it weighs just 219 gm and is 5.02 mm slim when opened.
The opposition has strongly criticised the government's decision to introduce a 0.4% Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000 for merchants, effective October 15. They allege the move is a result of US pressure and will lead to increased commodity prices, calling it a "betrayal" of the common man. The government, however, clarifies that customers will not be charged, and the MDR applies only to merchants for larger transactions.
India's cement industry is on the brink of an oversupply situation as aggressive capacity expansion by major players is set to outpace demand growth over the next two financial years, potentially leading to pricing pressures and moderated utilisation rates.
Tejal Hasabnis and Anushka Sharma's aggressive half-centuries, coupled with Nikki Prasad's all-round performance, led India A Women to a four-wicket victory over Australia A in the first women's one-day match in Mullanpur.
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.
'I don't really expect the August increase in food prices, which was close to 6 per cent, to persist as we go close to the end of this year.'
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 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 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.
Trump has enacted a new law imposing significant sanctions on Russia and Iran, which could lead to tariffs of up to 100% on major energy importers like India and China.
RBI Deputy Governor Rohit Jain highlighted that banks are well-positioned to deploy $133 billion mobilised through FCNR(B) deposits, especially with strong credit demand ahead of the festival season, while also stressing the importance of robust technology governance and cyber defences in the financial sector.
Bakaiti Season 2 has the warmth and terrific performances to make the Katarias feel like family, but its repetitive conflicts and easy resolutions leave their struggles feeling oddly inconsequential, argues Sreeju Sudhakaran.
Leg-spin all-rounder Vipraj Nigam has been named as the replacement for senior spinner Varun Chakravarthy in India's Asian Games cricket squad. Chakravarthy was ruled out due to a side strain, marking a setback after his recent return from injury. Nigam, a Delhi Capitals player, brings IPL experience to the team.
The Indian government has mandated that banks and payment providers cannot levy charges on UPI transactions up to Rs 2,000 or on payments made via RuPay debit cards. This directive follows an amendment to the Payment and Settlement Systems Act, 2007, aiming to sustain and expand the digital payments ecosystem.
The Indian men's chess team, seeded second, is set to face sixth-seeded Holland in the fifth round of the 46th Chess Olympiad after a mixed start. While players like D Gukesh and Nihal Sareen have performed well, top board players R Praggnanandhaa and Arjun Erigaisi are looking to find their form. The Indian women's team, with a perfect score, will play Poland, with B Savitha Shri being a standout performer.
