Seven of them posted losses, led by Air India, with their combined net loss widening to Rs 31,823 crore in FY26 from Rs 17,553 crore a year earlier and Rs 1,555 crore in FY20.
A Delhi court has granted default bail to six Ukrainian nationals arrested in connection with an NIA probe into a drone-warfare training camp linked to ethnic armed groups in Myanmar. The court also discharged them from Immigration and Foreigners Act charges after the FRRO compounded the offences with a fine. The NIA's UAPA probe is ongoing, with a supplementary chargesheet possible.
Finance Minister Nirmala Sitharaman clarified that the proposed Merchant Discount Rate (MDR) on select high-value UPI transactions is not a tax or cess, and its collections will not go to the government. She explained that MDR is a charge within the digital payments ecosystem, shared among participants to maintain infrastructure, and will not be passed on to consumers. The NPCI's new framework, effective October 15, applies a 0.4% MDR on person-to-merchant UPI transactions above Rs 2,000, with most transactions remaining free and small merchants exempt.
The Enforcement Directorate has arrested Kirshanu Sharda, an alleged middleman for suspended Punjab Police DIG Harcharan Singh Bhullar, in a money laundering case. Sharda is accused of facilitating illegal gratification for Bhullar, with investigations revealing unexplained cash deposits and frozen assets worth over Rs 1.42 crore.
Government sources clarify that the 0.4% merchant discount rate (MDR) on UPI transactions above Rs 2,000, effective October 15, will not be passed on to consumers. The charge, paid by merchants, aims to create a sustainable revenue framework for the digital payments ecosystem, with funds shared among banks and UPI entities. Small merchants using QR codes for up to Rs 1 lakh monthly are exempt.
Delhi Police have arrested three individuals, including a history-sheeter, in connection with the snatching of Rs 5 lakh from a man in Punjabi Bagh earlier this month. Police recovered Rs 2.15 lakh and the motorcycle used in the crime. Investigations are ongoing to apprehend the remaining suspects and recover the remaining amount.
A Gwalior man was fined Rs 5,500 by police after his girlfriend covered his car with 3,400 lipstick marks as a social media stunt. The car, which had been driven around the city, was deemed modified, leading to the penalty under the Motor Vehicles Act. The man was also made to clean the car.
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 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.
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.
Urban Indian millennials are caught in an algorithmically amplified consumption spiral where social media normalises spending patterns that systematically undermine retirement security.
The Indian government has introduced a 0.4 per cent charge on UPI payments exceeding Rs 2,000 made to merchants, with a cap of Rs 300 for transactions of Rs 75,000 and above. This policy shift ends the zero-MDR regime, which was previously criticised by financial institutions. While essential sectors and capital markets have specific fee structures, small merchants with monthly UPI QR code earnings up to Rs 1 lakh remain exempt. Person-to-person transfers are unaffected, and measures are in place to prevent merchants from passing these costs to customers.
Gurpreet Kaur, wife of Punjab Chief Minister Bhagwant Mann, has sent a legal notice to a former Punjab and Haryana High Court judge. This action follows allegations that she sought Rs 5 crore to suppress a rape case. The National Human Rights Commission (NHRC) has also issued a notice to the Punjab government and police chief regarding the complaint, which has drawn criticism from opposition leaders like Amrinder Singh Raja Warring and Bikram Singh Majithia. The NHRC has directed an inquiry into the matter, citing potential human rights violations.
88 per cent of individual traders lost money during FY26. Until we recognise gambling dressed up as option buying for what it is, we will keep treating the wrong disease, asserts Harsh Roongta.
The initial public offering (IPO) of auto components maker Hero Motors Ltd was fully subscribed on its first day of bidding, receiving bids for 1.38 times the shares on offer, with strong interest from retail investors.
Solicitor General Tushar Mehta informed the Supreme Court that an appeal would be filed against an Allahabad High Court decision that quashed the detention of Delhi University student Akriti Chaudhary under the National Security Act. The High Court had also awarded Rs 5 lakh compensation to Chaudhary and criticised the "despotic" conduct of the Gautam Buddha Nagar DM. The Supreme Court also expressed displeasure over a Greater Noida executive magistrate's notice to another student for protest participation.
The Maharashtra Food and Drug Administration (FDA) has suspended the licences of popular Mumbai restaurant Cafe Mondegar and three other food establishments due to serious food safety and hygiene violations. This action is part of an intensified crackdown by the FDA, which also saw inspections of 38 establishments, seizure of substandard food products worth over Rs 15 lakh, and action against banned gutkha products totalling Rs 1.35 crore in seized goods and vehicles across Maharashtra.
The Supreme Court has overturned a 2017 National Green Tribunal (NGT) order that held Sri Sri Ravi Shankar's Art of Living Foundation responsible for environmental damage to the Yamuna floodplains. The court directed the Delhi Development Authority (DDA) to refund the Rs 5 crore environmental compensation deposited by the foundation and continue the floodplains' rehabilitation work.
Non-banking financial companies (NBFCs) experienced a significant 68.5 per cent year-on-year growth in gold-backed credit in July 2026, while banks saw their gold loan growth moderate to 88.1 per cent from 136.4 per cent a year prior, according to RBI data.
Gautam Adani and family have reclaimed the top spot on India's rich list, surpassing Mukesh Ambani, as the nation's billionaire population reached a record 391, according to the M3M Hurun India Rich List.
A new Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000, effective October 15, could force small merchants and price-sensitive consumers to revert to cash, according to economic think tank GTRI. The move, which introduces a 0.4 per cent MDR with a Rs 300 cap and concessional rates for specific categories, is questioned by GTRI founder Ajay Srivastava, who suggests it's not a revenue issue for the government but potentially a response to US pressure regarding UPI and RuPay's preferential market position.
India's net direct tax collection has seen a robust 15 per cent increase, reaching approximately 5.21 trillion in the first two and a half months of FY27, as on June 17, driven by strong growth in both corporate and non-corporate tax segments.
'Treating stock brokers as merchants for MDR is fundamentally misplaced.'
'Manoj Kumarji had tears in his eyes after hearing my dad sing Mera Rang De Basanti Chola. He said, 'This is my voice for my desh bhakti songs".'
India's banking system is grappling with a persistent liquidity surplus exceeding Rs 5 trillion, driven by significant government spending and bond redemptions, leading market participants to anticipate the Reserve Bank of India will step up Variable Rate Reserve Repo operations to manage the excess funds.
'UPI has been free since Covid, so why is the government charging us now?'
The Mumbai Cricket Association (MCA) has significantly increased its subsidy corpus for affiliated clubs to Rs 500 crore over the next decade, aiming to bolster grassroots cricket infrastructure. Additionally, the MCA decided to name lounges at the iconic Wankhede Stadium after cricket legends Sachin Tendulkar, Ajinkya Rahane, and late Madhav Mantri.
Accel's early investment in RentoMojo, a furniture and appliance rental platform, has paid off handsomely with the company's strong debut on the stock exchanges, listing nearly 19 per cent above its issue price after a significantly oversubscribed IPO.
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.
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.
The Finance Ministry has clarified that the decision to impose a 0.4% Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000 was made independently, refuting claims of foreign influence. The ministry stated the policy aims to build a self-sustaining digital payments ecosystem, with MDR funding infrastructure and supporting small merchants.
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 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.
The Finance Ministry has refuted allegations that US pressure influenced the decision to levy a 0.4% Merchant Discount Rate (MDR) on select UPI payments. It clarified that NPCI guidelines prioritise RuPay credit cards on UPI to foster a domestic payment ecosystem and that the MDR introduction aims to create a sustainable revenue model for smaller domestic companies, thereby protecting India's sovereignty in digital payments.
Indian stock markets closed lower due to selling in IT and FMCG shares, triggered by renewed tensions in West Asia which led to a rally in crude oil prices and concerns over inflation and interest rates.
'For Indian institutions this year, global peers are outpacing in key areas such as RoI, entrepreneurship, and alumni outcomes.'
The Ministry of Home Affairs informed a Joint Committee of Parliament that the number of active NGOs registered under the Foreign Contribution (Regulation) Act has halved over the last decade, even as foreign funds received by them have significantly increased. Christian associations received the largest share of these funds in 2024-25. The report comes amidst discussions on a contentious FCRA amendment bill aimed at tighter government oversight.
The ICPC Internship Programme 2026, offered by the Policy, Politics and Governance Foundation, provides final-year and penultimate-year undergraduate students with hands-on exposure to politics, policymaking and governance. The programme combines online and offline learning with real-world experience, expert mentorship, and networking opportunities.
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 Indian government has introduced a 0.4 per cent Merchant Discount Rate (MDR) on UPI payments exceeding Rs 2,000 made to merchants, effective from October 15, with a comprehensive framework set to take full effect by October 15, 2026. This policy aims to regulate transaction fees while protecting small merchants and person-to-person transactions.
