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.
Heart Of The Beast may not tell a new story, but its old-fashioned storytelling makes these familiar elements work well enough for a heartfelt drama, notes Mayur Sanap.
Rural commercial vehicle (CV) registrations have consistently outpaced urban sales from April to July 2026, driven by a significant diversification of the rural economy and the positive impact of GST-led consumption, according to experts and data from Fada.
India U-19 defeated Australia U-19 by 103 runs in the second Youth ODI, securing an unassailable 2-0 lead in the three-match series. Yashbardhan Chauhan scored 122 and VK Vineeth added 87, helping India post 341/7. Australia were bowled out for 238, with Chigurupati Venkata taking three wickets.
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."
The Congress party has criticised the government's new 0.4% charge on UPI transactions above Rs 2,000 for merchants, terming it a "Modi tax". Opposition leaders, including Rahul Gandhi and Mallikarjun Kharge, allege that this move will ultimately burden consumers through price hikes and accuse the government of succumbing to American pressure to dilute India's zero-MDR policy. The government states the charge will support banks and fintechs.
The Finance Ministry has dismissed allegations of US pressure influencing the 0.4% Merchant Discount Rate (MDR) on select UPI transactions. It clarified that NPCI guidelines prioritise RuPay credit cards on UPI and do not favour international cards. The ministry also asserted that the MDR, applicable to person-to-merchant transactions above Rs 2,000, is unlikely to increase cash transactions or cause inflation, with measures in place to prevent burdening consumers.
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.
Finance Minister Nirmala Sitharaman announced that the Goods and Services Tax (GST) Council's October 7 meeting will focus on 'GST 2.0' process reforms, including e-invoicing and input tax credit rules, while also addressing complex issues surrounding the taxation of the digital economy and cryptocurrency.
Josh Inglis scored a century and Nathan Ellis hit an unbeaten 36, including a six off the first ball of the final over, to guide Australia to a dramatic one-wicket victory over Zimbabwe, securing a 3-0 series whitewash.
Ishan Kishan explained how he switches from long-format cricket to T20s within days, stressing quick adaptation, a calm mindset and understanding his role during partnerships with teammates.
Sri Lankan legend Sanath Jayasuriya has lauded Indian teen cricketer Vaibhav Sooryavanshi, calling him a 'different kind of talent' and the 'future for India', despite his recent exclusion from the playing XI against Afghanistan.
Dorothy is an audacious exploration of masculinity and gender identity that becomes increasingly muddled just when its ideas matter most.
Sanju Samson has been appointed Brand Ambassador of Jan Kaushal Kendra, Moti Nagar, with Delhi CM Rekha Gupta highlighting his connection with the capital and role inspiring youth.
Vivo is bringing another 5G smartphone to Indian buyers, with the T5 5G set to go on sale from September 9. It will be sold through Flipkart.
The Supreme Court has raised concerns regarding Bengaluru's Premium Floor Area Ratio (FAR) scheme, questioning its impact on urban infrastructure. The court cited Gurugram's infrastructure collapse during rains as a cautionary tale, contrasting it with Greater Noida's planned development. The scheme allows property owners to purchase additional construction rights, but petitioners argue it strains existing infrastructure and could regularise illegal constructions.
Fazilka Falcons outclassed Bathinda Royals by 49 runs but despite the convincing victory failed to advance to the semi-finals of the Sher-E-Punjab T20 League in Mohali on Thursday.
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.
Gold futures experienced their seventh consecutive daily decline, falling to Rs 1.5 lakh per 10 grams, driven by escalating military exchanges between the US and Iran which have pushed oil prices higher and intensified concerns over inflation and potential interest rate hikes.
Zepto is sharply scaling back Zepto Cafe, closing hundreds of outlets and shrinking its menu as it reworks the business.
India's 10 largest pharmaceutical companies have consistently maintained positive average volume growth throughout 2026, while smaller rivals have experienced more erratic performance, driven by a market shift towards chronic and sub-chronic therapies.
The Congress party has criticised the Modi government over a notification regarding UPI transactions, alleging it paves the way for imposing fees, especially on transactions above Rs 2,000. Rahul Gandhi claimed the government is surrendering to American pressure, while Mallikarjun Kharge highlighted the potential burden on common citizens amidst inflation. The government's notification prohibits charges on UPI transactions up to Rs 2,000 but remains silent on higher amounts, sparking fears of a "Digital Payments Tax."
Leicestershire County Cricket Club has been docked 27 points and fined 5,000 after their pitch was rated 'poor' during a match against Glamorgan, with the head groundsman attributing the conditions to a Bollywood film shoot and extreme heat.
While Zakir Khan takes you through a number of emotions, both the laughter and the poignancy hit with almost the same intensity, notes Utkarsh Mishra.
Australia secured an unassailable 2-0 ODI series lead against Zimbabwe after Travis Head's century powered them to a record total, backed by Adam Zampa's 200th wicket in an 84-run victory.
The Allahabad High Court has ordered the State Bank of India (SBI) to refund Rs 19.90 lakh debited from a widow's fixed deposit to recover her deceased husband's personal loan. The court deemed the bank's action an "abominable" breach of banking practice and also directed SBI to pay Rs 1 lakh in compensation to the woman.
Shubman Gill celebrated his 27th birthday with his family, reflecting on a remarkable rise from Fazilka to becoming one of India's leading batters.
Hardik Pandya and Rishabh Pant were not picked in Indian team for the upcoming ODI series against the West Indies, while Ruturaj Gaikwad made a return to the one-day team.
India Under-19 secured a narrow seven-run victory over Australia U-19 in a rain-affected first Youth ODI. Anvay Dravid's explosive late innings and Yashbardhan Chauhan's all-round performance, including a half-century and two wickets, were pivotal. The match also marked the U19 debut of Aaryavir Sehwag, who contributed 28 runs.
Left parties have strongly condemned the government's decision to impose charges on UPI payments exceeding Rs 2,000, with CPI General Secretary D Raja alleging the move was made under "US pressure" to favour foreign payment companies. Both CPI and All India Forward Bloc demand the withdrawal of this "anti-people decision," arguing it burdens consumers and merchants while undermining UPI's role as a public digital infrastructure. They highlight concerns that the charges weaken India's digital sovereignty and serve commercial interests of foreign corporations like Visa and Mastercard.
The BJP has accused the Congress of spreading "fake news" regarding UPI transaction charges, asserting that the government has clarified that consumers will not be levied merchant discount rate (MDR) charges. This comes after the Congress criticised a government notification, alleging it paves the way for imposing fees on UPI transactions. The BJP has strongly refuted these claims, highlighting that most UPI transactions remain free and the government provides incentives to maintain a charge-free ecosystem for users.
Fast-moving consumer goods (FMCG) companies in India are committed to maintaining current prices through the festive season, despite facing increased commodity costs and geopolitical disruptions. This strategy aims to protect consumer demand and sustain volume growth, even as margins remain under pressure.
Olympic Council of Asia Director General Husain Al Musallam defended Japan's decision not to have a dedicated Athletes' Village for the Aichi-Nagoya Games, citing cost and sustainability. This comes amidst criticism over accommodation chaos. Musallam confirmed that future Asian Games in Doha (2030) and Riyadh (2034) will feature dedicated villages, emphasising flexibility and legacy considerations. He also supported the increasing number of athletes, highlighting the importance of sport in current global crises.
Shaque: Trust No One has a promising mystery and enough juicy red herrings to keep you guessing, but its convenient writing and dated clichs eventually derail the show.
India's student housing shortage is widening, but high land costs, weak rental yields and regulatory hurdles are keeping organised developers away.
If we really want to curb the further depreciation of the rupee and make the rupee appreciate, we want to come out of the mindset that the exchange rate is merely a number, bring policy corrections to help reduce the outflow of foreign exchange by imposing suitable tariffs to discourage imports and bring self reliance, discipline FPIs, and correcting rules governing royalty outflows, suggests Dr Ashwani Mahajan, National Co-Convenor, Swadeshi Jagaran Manch.
Pharma major Lupin is significantly increasing its focus on biosimilars, aiming for a turnover of nearly $500 million from this segment over the next five years, driven by new product launches and expanded presence in key global markets like the US, Europe, and Japan.
Opposition MPs have voiced strong concerns regarding the government's decision to levy a 0.4 per cent fee on UPI payments above Rs 2,000 made to merchants, effective October 15. They argue that this "anti-people" move will negatively impact a large segment of the population, despite the finance ministry clarifying that the charge is on the merchant ecosystem and not directly on customers for P2P or small payments.
Gold prices in India extended their losing streak, falling by Rs 1,500 to Rs 1,60,900 per 10 grams, influenced by hawkish remarks from Federal Reserve Chair Kevin Warsh and rising oil prices, which have increased expectations of an interest rate hike.
