A 47-year-old man, Gulzar Singh, from Dirba in Sangrur district, allegedly died by suicide after consuming poison. In a purported video, he questioned Punjab Finance Minister Harpal Singh Cheema about the unabated supply of 'chitta' (synthetic drugs) in the area, stating his son was addicted. Opposition parties have seized on the incident, demanding a probe and justice for Gulzar Singh, putting the Mann-led AAP government under pressure regarding the drug menace in the state.
'Improved law and order and transparent governance have helped change UP's investment image.'
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.
The UK has announced a comprehensive sanctions regime against Israeli settlements in the West Bank, banning the import of goods and targeting entities involved in settlement expansion. Foreign Secretary Ed Miliband condemned the "ethnic cleansing of Palestinians" and highlighted international support for the UK's stance, while Israel reacted strongly with counter-measures.
A trade body in Jharkhand, FJCCI, has urged the Union Finance Minister to withdraw the proposed 0.4% Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000 for merchants. The body argues that this charge will significantly increase operating costs for businesses, especially MSMEs and retailers, who rely on the current zero-MDR regime for digital payments.
BSP chief Mayawati has criticised the Centre's decision to introduce a 0.4 per cent fee on UPI merchant transactions exceeding Rs 2,000, effective October 15. She termed it a "capitalist profiteering attitude" that burdens the common people, while the government clarified that the charge is on merchants and not customers for person-to-person transactions.
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.
Private corporations in India invested approximately 30.3 trillion in fixed assets during FY25, marking a 7 per cent increase from the previous year, according to the statistics ministry. This growth in private capital expenditure contrasts with a slowdown in government capital spending.
Property insurance premium rates are increasing by 25-30 per cent, primarily due to a reduction in discounts, following substantial claims from natural calamities like the Gujarat floods, which caused an estimated 5,000 crore in losses.
Russian President Vladimir Putin has proposed a new investment platform, based on the New Development Bank (NDB), to fund projects in trade, infrastructure, logistics, and technology across BRICS nations, emphasising that the grouping's expanding economic cooperation is not 'against anyone' but aims to advance members' national interests.
India's MSME sector faces a significant formal credit gap of approximately Rs 60 lakh crore, with traditional channels meeting only a fraction of the demand. A new report suggests that a centralised, interoperable digital layer could effectively bridge this gap and enhance productivity across the formal business sector by digitising workflows and enabling cash-flow-based underwriting.
A 13-year-old boy was allegedly abducted and murdered by his neighbour in Bengaluru as part of a ransom plot. The accused, Bhaskar Reddy, has been arrested, while police search for an accomplice. The murder was reportedly premeditated to prevent the boy from identifying his abductors.
A 13-year-old boy in Bengaluru was allegedly abducted and murdered by his 28-year-old neighbour, Bhaskar Reddy, as part of a ransom plot to repay a debt. Reddy, who recently returned from London, was arrested after his car, containing the boy's body, crashed, leading passers-by to alert the police. Authorities are now searching for an accomplice.
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.
Commerce Secretary Rajesh Agarwal highlighted the critical need for India to diversify its services exports beyond the dominant IT/ITeS and professional services sectors. Speaking at the Global Fintech Fest 2026, he emphasised the vast potential in the global financial services market, where India currently holds a small share, and stressed how fintech solutions, like UPI, can drive growth, reduce remittance costs, and support MSME trade finance, ultimately leading to sustainable economic expansion.
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).
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.
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.
US lawmakers are racing to amend the Russia sanctions bill before recess. One amendment specifically names India, China, and other countries as potential targets for 100% tariffs due to their oil trade with Russia. Another significant amendment proposes to scrap the tariff section entirely, while others address presidential waiver powers and aid to Ukraine.
'This government is in the very bad habit of doing so again and again. It has done so many times.'
The Supreme Court has given actor Rajpal Yadav a final two-week opportunity to present a concrete proposal for repaying an outstanding amount to a private firm, directing him to deposit Rs 2 crore with the apex court registry. This comes after a series of cheque bounce cases, with the Delhi High Court previously upholding his conviction and sentencing him to three months' imprisonment. The court noted Yadav's past conduct did not inspire confidence but granted a last chance.
South African President Cyril Ramaphosa on Friday described BRICS as an important global forum, highlighting the grouping's growing demographic and economic weight and noting that its members account for around half of the world's population and 40 percent of global GDP.
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.
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.
Prime Minister Narendra Modi's 76th birthday was celebrated with extensive programmes in Varanasi, his Lok Sabha constituency. Events included special prayers by 76 young priests, a milk 'abhishek' of the Ganga, and a significant 'Seva Sankalp' motorcycle journey from Varanasi to Vadnagar, Modi's birthplace, involving 500 participants. Several prominent political figures, including Defence Minister Rajnath Singh and Uttar Pradesh Chief Minister Yogi Adityanath, participated in the celebrations, offering prayers for Modi's health and India's progress.
The US House of Representatives is debating a bill that would authorise the President to impose sanctions on Russia and steep tariffs on its oil and gas trading partners, including India and China. The bill, aimed at pressuring Russia over the Ukraine war, has faced opposition but is expected to be put to a vote.
A Delhi court has ordered the framing of money laundering charges against former railway minister Lalu Prasad Yadav, his wife Rabri Devi, son Tejashwi Yadav, and six others in the alleged IRCTC hotel scam. The court found strong suspicion of a manipulated tender for railway hotels and a quid pro quo involving land transfer at undervalued rates.
RBI Deputy Governor Shirish Chandra Murmu has dismissed concerns that the new Merchant Discount Rate (MDR) on UPI payments above Rs 2,000 will increase cash transactions. He also clarified the 'cash paradox' of rising digital payments alongside cash in circulation, explaining cash's dual role. Murmu further detailed the RBI's extensive regulatory changes aimed at reducing compliance burdens and emphasised that accountability for AI-driven decisions in finance will remain with institutional boards.
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.
US President Donald Trump is expected to sign the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 later on Friday (local time). A White House official confirmed the development to ANI without revealing further details.
For India, the goal is not simply to host another grand diplomatic gathering. It is to prove that a diverse coalition of emerging powers can still deliver.
Russian President Vladimir Putin is set to visit India for a three-day trip to attend the 18th BRICS Summit and engage in bilateral discussions with Prime Minister Narendra Modi. The summit will focus on strengthening strategic partnerships and addressing international issues, with Putin also scheduled to meet other world leaders.
CPI(ML) Liberation general secretary Dipankar Bhattacharya has strongly criticised the newly introduced Merchant Discount Rate (MDR) on select UPI transactions, labelling it a "UPI tax" and demanding its immediate rollback. He drew parallels with demonetisation, arguing that the new framework would negatively impact small shopkeepers, MSMEs, and ordinary citizens by increasing prices.
India is actively integrating payment system harmonisation into its Free Trade Agreement (FTA) negotiations, especially with countries hosting a large Indian diaspora. This strategy aims to leverage India's growing fintech ecosystem, facilitate cross-border financial services, and position India as a global hub for financial services exports, particularly through platforms like GIFT City.
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."
Finance Minister Nirmala Sitharaman stated that India is likely to sustain economic growth of 7 per cent or more in 2026-27, continuing the pace recorded since the Covid-19 pandemic, despite geopolitical uncertainties and supply-chain disruptions.
The combined market valuation of four of India's top-10 most valued firms eroded by Rs 87,960.29 crore last week, with Bharti Airtel experiencing the largest decline, amidst a bearish trend in the equities market.
In recent years, China and Russia have pushed for de-dollarisation within BRICS, which India has resisted. One reason is that India does not want to hurt its relationship with the United States, and another is the fear of China controlling trade because the renminbi is considered the strongest currency in the bloc today.
Iranian President Masoud Pezeshkian declared that Iran will not succumb to "bullying" from the US and Israel, vowing to protect national interests amidst escalating West Asian hostilities. During his visit to New Delhi for the BRICS summit, Pezeshkian also discussed strengthening bilateral ties with Prime Minister Narendra Modi and advocated for local currencies in BRICS trade, positioning Iran as a strategic energy and transport partner.
Experts laud the decision to impose a 0.4 per cent Merchant Discount Rate (MDR) on UPI transactions exceeding Rs 2,000, effective October 15. This move, along with a dedicated fund for small merchants, is seen as crucial for creating a sustainable digital payments ecosystem, incentivising expansion in rural areas, and funding innovation while keeping most transactions free for users.
