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."
Seven-time champions India are strong favourites against Bangladesh in the Women's Asia Cup semi-final. The match carries an underlying political subtext, adding to the intensity. India's dominant form, led by Smriti Mandhana and Shafali Verma in batting and Deepti Sharma and Renuka Singh in bowling, contrasts with Bangladesh's more resilient path to the semi-finals.
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.
India is hosting the 18th BRICS Summit in New Delhi, bringing together numerous world leaders including presidents from China, Russia, South Africa, Iran, and Egypt, along with prime ministers and foreign ministers from other nations. The summit will feature bilateral talks and highlights the expanded BRICS grouping's growing global influence and India's significant role as a founding member and current chair.
For India, much is at stake: Crucial energy supplies traversing the Strait of Hormuz, the fate of its 10 million citizens living and working in West Asia -- who send generous remittances home -- and its major trade links with the region.
PhonePe, at the Global Fintech Fest 2026, unveiled its strategic vision for the next decade, focusing on inclusive digital progress for individuals, households, and businesses across India. The roadmap details innovations in financial inclusion, wealth creation, credit access, and merchant solutions.
Luxury hotels in Delhi are experiencing a significant room crunch and a sharp increase in tariffs ahead of the BRICS Summit. Many marquee properties show no availability or are quoting rates exceeding six figures per night around the September 12-13 event, highlighting a gap in India's hospitality infrastructure.
India's services activity expanded in August, but the pace of growth cooled to the second-slowest since March 2022, despite stronger output and new business, according to the HSBC India Services PMI Business Activity Index.
Prime Minister Narendra Modi will visit the UAE, the Netherlands, Sweden, Norway and Italy to deepen India's bilateral ties amid geopolitical changes.
The Indian U17 men's football team lost 1-5 to the United Arab Emirates in a friendly match in Thailand.
India's UPI International payment system is now playing a crucial role in humanitarian efforts, enabling seamless disaster relief donations from Indian users to Nepal's Prime Minister Disaster Relief Fund, showcasing its growing global acceptance and utility beyond tourism. UPI IMAGE: Kindly note that this image has been posted for representational purposes only. Photograph: Unsplash Key Points UPI International, initially for Indian tourists, is now facilitating disaster relief donations to Nepal's Prime Minister Disaster Relief Fund. The embassy of Nepal in India is actively encouraging Indian users to utilise their UPI apps for these contributions. This marks a significant shift, expanding UPI's cross-border use case beyond tourism to include inbound collection for foreign governments. The move positions UPI International alongside global payment giants like Alipay+ and UnionPay for international aid. Donors need to activate the UPI International feature on their apps to transact, with amounts converted from INR to NPR.
India has been drawn into Group E of the AFC U-17 Men's Asian Cup Qualifiers, alongside hosts Malaysia, Palestine, Singapore, and Guam. The qualifiers will take place in Malaysia from November 11 to 20, with India aiming for their 11th appearance in the main tournament, scheduled for Uzbekistan in 2027.
The Asian Cricket Council has announced that India will play arch-rivals Pakistan in the Women's T20 Asia Cup on September 5 in Dubai. The tournament, featuring eight teams, will run from August 28 to September 13, with India being the most successful team in its history.
The BRICS foreign ministers' meeting in New Delhi concluded without a joint statement due to disagreements over the West Asia conflict, with Iran blaming the UAE for the lack of consensus. India, as the host, issued a chair's statement highlighting the differing views.
The authorities confirmed that the security situation in the UAE remains stable and that all concerned entities are monitoring developments around the clock.
The CBI has arrested Kamlesh Parekh, a fugitive wanted in a 10-year-old Rs 2,672 crore bank fraud case, after his extradition from the UAE.
An Indian national was among those killed in the UAE after debris from intercepted missiles fell in Abu Dhabi. The Indian Embassy is providing assistance.
India significantly increased its crude oil imports from Russia and the United Arab Emirates in June, securing supplies as the Strait of Hormuz began to reopen, with Russian barrels remaining attractive due to discounts and UAE supplies offsetting earlier uncertainties.
India and China are in what experts call 'a cooperation-versus-competition situation'.
'In the current environment, India is effectively paying a premium for supply security and diversification.'
Indian women's cricketer Jemimah Rodrigues has been ruled out of the upcoming Asia Cup and Asian Games due to a high-grade hamstring tear sustained during The Hundred tournament in England. Pratika Rawal has been named as her replacement for the Asia Cup.
An Indian national sustained injuries from shrapnel after a drone was intercepted by the UAE's air defence system. This incident follows similar events involving injuries and fatalities to Indian nationals in the region due to intercepted missiles and drones.
The Supreme Court has scheduled a July hearing for the Rs 500 crore money decree case involving Ras Al Khaimah Investment Authority (RAKIA) and industrialist Nimmagadda Prasad, following the failure of a mediation process led by former Chief Justice of India U U Lalit.
The UAE consulate in Erbil, located in Iraq's Kurdish region, suffered structural damage in the aerial attack. Officials said there were no casualties.
Donald Trump stated that Iran has been given a "last chance" to reach an agreement, revealing that the US paused a planned military strike after receiving requests from Saudi Arabia, the UAE, Qatar, and Iran to pursue diplomacy instead.
The Unified Payments Interface (UPI) has completed a decade since its launch, becoming the backbone of India's digital payments ecosystem. It has seen exponential growth in transaction volume and value, expanding financial inclusion and setting a global benchmark for real-time payments.
Iranian Deputy Foreign Minister Kazem Gharibabadi has urged India to take the lead in bringing peace to West Asia, highlighting the UAE's role in stalling BRICS consensus on the conflict. Gharibabadi also discussed a new framework with Oman for merchant vessels passing through the Strait of Hormuz.
Israel and the United Arab Emirates both sounded missile alerts early Wednesday, despite Iran and the United States saying they had reached a two-week ceasefire in the war.
Former India and Karnataka pacer R Vinay Kumar has been appointed as the head coach for the Karnataka state cricket team, replacing Yere Goud. Kumar, who previously led Karnataka to multiple domestic titles, will aim to bring more silverware to the team, with Deepak Chougule and Mansur Ali Khan joining him in the coaching staff.
Since the outbreak of conflict in the Middle East, 16 Indian nationals, including 10 seafarers, have lost their lives, and 75 have been injured. Separately, 30 Indian nationals were among 52 individuals arrested and deported by US Border Patrol during 'Operation Checkmate' for allegedly being in the United States illegally.
USA player Bodugum Akhilesh Reddy has been banned from all cricket for eight years by an ICC Anti-Corruption Tribunal for breaching three counts of the ICC Anti-Corruption Code, including attempting to fix matches in the Abu Dhabi T10 2025.
The Delhi High Court has closed proceedings on Celina Jaitly's petition regarding her brother Vikrant Jaitly's detention in the UAE, directing the Centre to continue providing legal assistance.
The ministry of defence of the United Arab Emirates on Monday said its air defence systems successfully intercepted multiple aerial threats launched from Iran, as tensions in the region continue to rise.
India's outward foreign direct investment (FDI) plummeted by 47.9 per cent year-on-year to $3 billion in June 2026, according to the Reserve Bank of India (RBI), with declines across equity, debt, and guarantee commitments.
Economist Jeffrey Sachs saw Gulf nations' decision to partner with the US through the Abraham Accords as an "invitation for disaster" as it made them more dependent on American protection.
US Vice-President J D Vance's unexpected phone call to Prime Minister Narendra Modi on August 8 has ignited speculation about a potential diplomatic overture, possibly seeking India's support amidst the escalating US-Iran conflict and a shifting global power landscape, suggests Ambassador M K Bhadrakumar.
Australia's head coach Andrew McDonald has announced that the team will forgo traditional practice matches before their upcoming Border Gavaskar Trophy Test series in India, opting instead for a short preparatory camp in sub-continental conditions. This strategic decision aims to better acclimatise players for the challenging Indian pitches.
Punjab Police have dismantled an arms supply module with connections to handlers in the Philippines and the UAE, arresting one man and detaining a juvenile. The recovered weapons were intended for use in firing and extortion activities.
'Maybe Sobers was upset that he could not touch Gavaskar, and when he came out to bat, he got dismissed off the first ball by me.'
According to a statement, the move follows rigorous monitoring of digital platforms to combat the spread of fabricated information and artificial content intended to incite public disorder and undermine general stability.
