The CBI has registered a case against USA-based Christian missionary group The Timothy Initiative (TTI) and its associates for allegedly misusing Rs 92.55 crore in foreign funds for missionary activities, violating the Foreign Contribution (Regulation) Act, 2010. The case, based on a Union Home Ministry complaint and ED investigation, highlights the alleged use of foreign debit cards and attempts to conceal identities.
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.
The Congress party has accused the Indian government of imposing new charges on UPI transactions due to pressure from the United States, specifically to benefit American card companies. The opposition party demanded the withdrawal of the decision, calling it "anti-national" and alleging it fills the coffers of US firms while burdening Indian citizens. The government, however, clarified that the Merchant Discount Rate (MDR) charges apply only to commercial transactions above Rs 2,000 and are not levied on consumers, a stance supported by the BJP which accused Congress of spreading "fake news".
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.
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 opposition has intensified its criticism of the government's decision to impose a 0.4 per cent Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000, effective October 15. Leaders like Rahul Gandhi and Jairam Ramesh allege the move is a result of US pressure, particularly from American card companies, and demand an immediate rollback, warning of increased costs for consumers.
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.
For the second time in two years, Karnataka minister B Nagendra resigned from the state Cabinet on Friday amid the Opposition heat over his alleged involvement in the Rs 89 crore Valmiki Corporation scam.
'Wages have not risen. Rural wages have stagnated. The growth was 0.7 per cent last year. For casual and irregular labour, the wage growth is negative.'
Essel Group Chairman Subhash Chandra has challenged the National Company Law Tribunal's (NCLT) decision to form a five-member bench to hear his personal insolvency case, arguing that the tribunal lacks the power to constitute such a bench. This comes after a split verdict and a subsequent stay on an order allowing him to settle claims.
Infographics break down the key numbers and decisions, making it quick and easy to understand what the Budget means for the economy.
'Resolution plan with this much haircut is totally unviable.'
A special five-member NCLT bench has issued notices to all parties in Subhash Chandra's personal insolvency case and directed the Essel Group Chairman not to alienate his properties, either directly or indirectly, following a split verdict on a repayment plan.
Union Finance Minister Nirmala Sitharaman has urged an increased focus on '3Fs'-fuel, fertiliser, and forex-to maintain India's economic resilience amidst the West Asia crisis, while also criticising those who spread pessimism.
The fiscal consolidation path and Rs 1 trillion stabilisation fund provide room to absorb mild shocks, but sustained oil-price increases pose risks.
Prime Minister Narendra Modi cautioned against the 'weaponisation' of technology and critical minerals at the BRICS summit, advocating for cooperation to foster shared prosperity. Concurrently, Chinese President Xi Jinping announced plans for an open-source AI ecosystem for BRICS nations, positioning Beijing as a key technology partner amid global AI competition.
The Bharatiya Janata Party's new national team integrates women, minority leaders, and regional representatives to strengthen its organisational structure and national appeal.
The overhaul comes after a series of controversies surrounding the conduct of examinations administered by NTA, which has faced questions over examination security and its handling of irregularities.
'You have to get private investment to somewhere between 35% to 36% of GDP. It is hovering about 30%-31%.'
India was on Friday accorded the vice presidency of the Financial Action Task Force (FATF), the global body that sets standards for combating money laundering and terrorist financing, for the first time.
For millions of Indians, this number has become one of the most important financial indicators. It can influence not only whether a bank approves a loan but also the interest rate you pay, the credit limit you receive and, in some cases, how quickly your application is processed.
The Rajya Sabha has passed The Bankers' Books Evidence Bill, 2026, which aims to replace a British-era law and allow digital and virtual records to be admissible as evidence in courts. This legislation aligns with contemporary digital banking practices and extends a uniform evidential framework to various financial entities, including NBFCs and fintech companies. Finance Minister Nirmala Sitharaman highlighted the bill's role in strengthening public confidence and safeguarding customer privacy. The bill's passage, however, saw an Opposition walkout over unrelated issues.
Bangladesh-China and Bangladesh-US relations have evolved from reluctant engagement to increasingly consequential strategic partnerships.
The Bharatiya Janata Party (BJP) has announced a significant overhaul of its national team under party president Nitin Nabin, introducing numerous new faces and promoting prominent leaders like former Union minister Smriti Irani to general secretary and former RSS functionary Ram Madhav to vice president. The revamp aims to balance youth and experience while preparing for upcoming assembly and general elections.
The TVK's decision to offer the lone Rajya Sabha seat to the Congress came against the backdrop of key meetings between national party leaders, including former union finance minister P Chidambaram and Congress Tamil Nadu in-charge Girish Chodankar at the Secretariat.
The National Testing Agency (NTA) is undergoing significant reforms, including the removal of over 50 staff members and the onboarding of new leadership and domain specialists. This comes after recent issues like errors in UGC-NET papers, leading to re-tests, and the cancellation of NEET-UG 2026. The Education Ministry has directed a complete overhaul of exam protocols and a thorough audit of all processes to ensure integrity.
Dipke has clarified the funding of his US education, stating it was supported by a scholarship and an education loan, amidst growing scrutiny and calls for a probe into his finances.
Union Finance Minister Nirmala Sitharaman has warned that the ongoing West Asia crisis is not merely a geopolitical issue but will directly lead to higher fuel costs for common people and businesses, impacting shipping, input availability, and export orders.
'It is not because of the war in West Asia, which began on February 28.' 'Petroleum product prices are already going through the roof. They are bound to have a serious inflationary impact.' 'A country's leadership is tested in trying times. It is here that the current leadership is failing.'
It's not about how much you earn -- it's about how you borrow and repay.
India and China are in what experts call 'a cooperation-versus-competition situation'.
Lack of women in Karnataka's new council of ministers has put the spotlight once again on women's under-representation in politics and policy.
Sources clarify that the NCLT's approval of a repayment plan for Essel Group founder Subhash Chandra does not signify a 99.97 per cent write-off of Rs 22,000 crore in bank loans, as the figure represents claims against him as a personal guarantor, not debt personally borrowed.
During the meeting with Prime Minister Narendra Modi, Vijay raised concerns, including rendering Tamil Thai Vazhthu at the beginning of government events, opposition to Karnataka's proposed Mekedatu dam project, the release of Tamil Nadu fishermen detained by Sri Lanka, and the establishment of a key defence research facility in the state.
The National Company Law Tribunal (NCLT) has approved media baron Subhash Chandra's personal insolvency resolution plan, which proposes to pay Rs 6.5 crore against admitted creditor claims of approximately Rs 22,006.57 crore, despite allegations from dissenting lenders that five family-linked entities controlled 61.78 per cent of the voting share.
The BJP has announced its new national organisational team, with eight leaders from Uttar Pradesh receiving key appointments. These include two national vice-presidents, two general secretaries, two secretaries, and the chiefs of the OBC and Minority Morchas. The appointments reflect a strategic focus on youth, social diversity, and experienced campaigners, particularly after the party's recent electoral setbacks in the state.
'This government is in the very bad habit of doing so again and again. It has done so many times.'
The Kerala Sports Department has submitted its confidential inquiry report regarding the controversy surrounding the proposed visit of football legend Lionel Messi and the Argentina team to the state during the previous government's tenure.
Congress leader Rahul Gandhi has approached the Supreme Court to challenge an Allahabad High Court order that directed the CBI and ED to verify allegations of disproportionate assets against him. The Supreme Court is scheduled to hear the matter on August 17. The Allahabad High Court had expressed dissatisfaction with the CBI's progress and ordered a fresh affidavit, also allowing the ED to proceed if illegality was found during its inquiry. The case stems from a plea by a BJP worker alleging disproportionate assets and dual citizenship.
