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.
Infosys co-founder Nandan Nilekani predicts that large corporations in India will lose jobs due to automation and AI, while millions of small businesses will drive future employment growth. He advocates for deregulation, simplified business interfaces, and digital platforms to support small entrepreneurs and a gig economy workforce.
A senior Microsoft executive says India is uniquely positioned to lead the next phase of global AI deployment, driven by a massive developer base, rapid enterprise adoption, and robust digital public infrastructure.
Researchers have successfully recreated in a laboratory setting how high-energy cosmic rays interact with Earth's atmospheric gases. Using CERN's Large Hadron Collider, an international team simulated collisions between cosmic particles, similar to those from supernovae, and oxygen beams. This unprecedented experiment provides a clearer understanding of interstellar particles and phenomena like the Northern Lights, improving upon previous computer simulations.
RBI Governor Sanjay Malhotra stated that the central bank consistently views fintechs as 'valuable partners' in shaping India's future financial system, crediting the sector with expanding financial inclusion, enhancing customer experience, and streamlining credit delivery, particularly for MSMEs.
N Chandrasekaran's exit marks a major shift for TCS, leaving its leadership to navigate AI disruption without the group chairman's deep expertise.
Adani Group Director Jeet Adani and Bharti Enterprises Vice Chairman Rakesh Bharti Mittal highlighted the importance of infrastructure, energy, and connectivity in shaping India's AI ecosystem, emphasising Visakhapatnam's potential as a major digital gateway.
Researchers at Birla Institute of Technology-Mesra have developed a brain-computer interface (BCI) system that translates brain signals into real-time wheelchair navigation commands using a hybrid quantum-enhanced deep learning model.
A new study reveals that AI chatbots often provide inaccurate and incomplete medical information, raising concerns about their use in healthcare communication.
Professor Deepak Dhar of the International Centre for Theoretical Sciences (ICTS) has been awarded the prestigious 2026 Dirac Medal for his significant contributions to statistical mechanics and complex systems. He shares the honour with three other scientists for their pioneering work extending statistical mechanics into diverse fields like AI and theoretical neuroscience.
As NSRCEL enters its next phase, the incubator plans to focus on AI, deep technology and global partnerships as it looks to expand its reach.
A Meerut model has filed a complaint alleging a man exploited her physically and financially for nearly a decade on the promise of marriage, later pressuring her for religious conversion. Police have initiated an investigation into the matter, which also includes allegations of financial fraud and forced abortions.
Indian IT services firms are expected to report a soft Q1 FY27 performance due to a challenging macro environment, the impact of AI, and geopolitical uncertainties, leading to reduced discretionary spending and slower decision-making cycles, according to Motilal Oswal Financial Services.
Chief Justice of India Surya Kant stated that the Supreme Court views technology as an aid to human reasoning, not a replacement, and emphasised developing "Swadeshi Jurisprudence" tailored to India's unique conditions. He highlighted efforts to create an indigenous AI ecosystem for the judiciary and stressed that AI cannot substitute human judgment, empathy, or ethical discernment.
Researchers at the Indian Institute of Technology Madras (IIT,M) have developed a novel "morphing skin" concept for aircraft wings, inspired by bird flight. This adaptive external skin dynamically reshapes in real time to prevent aerodynamic stalls, enhance lift, reduce drag, and significantly improve aircraft safety and fuel efficiency. The technology holds promise for commercial aviation, unmanned aerial vehicles, and defence applications.
World Bank President Ajay Banga has advocated for the deployment of 'Small AI' locally deployed artificial intelligence running on inexpensive hardware to address daily problems faced by farmers and rural communities in emerging markets.
Employers are increasingly prioritising professionals with four to 10 years of experience.
'It seems unlikely that organisations will be a bunch of individuals who work on their own and there are no teams anymore, because that is not sustainable.'
A report indicates that mid-tier banking, financial services, and insurance (BFSI) entities in India are highly exposed to cyberattacks due to aggressive digitisation coupled with insufficient cybersecurity investments.
The merged InsuranceDekho-RenewBuy entity aims to significantly expand its distribution network across India, offering insurance, mutual funds, and loans, with a strong focus on 'Bharat' (rural India), according to CEO Ankit Agarwal.
The Olympic Council of Asia (OCA) has dismissed concerns about organisational chaos at the Asian Games, attributing criticisms to attempts to "politicise" the event. Despite widespread issues like accommodation scarcity, lengthy check-ins, and athlete complaints, OCA officials insist challenges are normal and are being handled effectively. They also addressed a diplomatic complaint from South Korea regarding a historical figure at a welcome ceremony and defended cost-saving measures like container-style accommodation.
Tax experts clarify that merchants will pay 18% GST on Merchant Discount Rate (MDR) for UPI payments exceeding Rs 2,000, effective October 15. However, registered merchants can claim Input Tax Credit (ITC), mitigating the tax burden. This move is expected to generate significant GST revenue for the exchequer while funding payment infrastructure.
Former model and actor Twisha Sharma, who died in Bhopal due to alleged dowry harassment, was cremated after a second postmortem. Her family accuses her in-laws of dowry harassment and abetment to suicide, while the in-laws claim she suffered from drug addiction.
Coforge believes that the rapid adoption of AI is disrupting the traditional labour model but also creating new high-margin opportunities in the IT services industry.
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.
Civil Aviation Minister K Rammohan Naidu announced significant opportunities for Micro, Small, and Medium Enterprises (MSMEs) within India's rapidly expanding aviation sector. With Indian airlines ordering over 1,600 aircraft and the aerospace market projected to double by 2035, there's a massive scope for Indian suppliers to integrate into global aerospace supply chains, moving beyond assembly to design and manufacturing.
The Finance Ministry has clarified that the 0.4 per cent Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000, effective October 15, is not expected to increase cash transactions or cause inflation. The ministry also dismissed allegations of US pressure influencing the decision, asserting that the policy aims to promote RuPay credit cards within the UPI ecosystem, and a monitoring mechanism will ensure the MDR burden is not passed on to consumers.
Infosys on Tuesday announced a strategic collaboration with American artificial intelligence company Anthropic to develop and deploy advanced enterprise AI solutions for companies across telecommunications, financial services, manufacturing, and software development.
Indian athletes at the Asian Games in Nagoya are facing significant accommodation challenges, including cramped rooms on a cruise ship and long waits for check-in. The host nation's athletes are also affected, with complaints about shared rooms and general mismanagement. Organisers have opted against a traditional Athletes Village, leading to athletes travelling long distances for training, further exacerbating the logistical issues ahead of the mega-event.
Researchers at IIT Madras have patented a chemical-free antibacterial surface that physically eliminates harmful bacteria, including "superbugs," without relying on antibiotics or disinfectants. This innovative technology uses specially engineered nanostructures to rupture bacterial cell walls, offering a sustainable solution to Antimicrobial Resistance (AMR) for biomedical and public health applications.
Hockey India is embroiled in a significant internal dispute between President Dilip Tirkey and Secretary Bhola Nath Singh, primarily stemming from an unauthorised jersey colour change. An emergent Executive Board meeting has been called to address this conflict, discuss the restructuring of the Hockey India League (HIL) into a joint venture with franchises, finalise election dates, and deliberate on hosting Asian Champions Trophy events. The meeting also aims to address a show-cause notice issued to the Director General.
Indian IT stocks experienced a significant downturn following OpenAI's acquisition of consulting firm Tomoro, intensifying fears that global AI companies are encroaching on traditional IT service models through end-to-end consulting and implementation services.
Cactus Technology Solutions Private Limited has been empanelled by the National e-Governance Division (NeGD) to provide AI and machine learning expertise for government-led digital initiatives.
A new study reveals a significant increase in the use of artificial intelligence (AI) in scientific paper submissions since the release of ChatGPT, accompanied by a decline in writing quality. The research, focusing on submissions to the journal Organization Science, highlights the strain on the peer-review system and questions the benefits of AI for non-native English speakers and new field entrants.
'Everyone has a surname, and I think everyone has an equal responsibility to live up to that name.'
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.
'...as we believe with the adoption of AI, our IT services companies' revenue models will have to undergo a reset, which may in turn impact their potential for earnings growth.'
India's top 16 IT services companies distributed a record 1.3 trillion to shareholders in FY26 through dividends and share buybacks, a 36.3 per cent increase from FY25, even as the industry grappled with AI-driven business model threats and a significant decline in market capitalisation.
A teenager, Ashu alias Lala, has been arrested in Delhi for the fatal stabbing of 25-year-old Sahil. The incident occurred after a minor dispute escalated into a physical altercation where Sahil allegedly slapped Ashu, leading to the fatal stabbing. Police tracked the accused, who later surrendered, and further investigation is underway.
In part 3 of a Rediff series exploring new careers for aspiring professionals, Sanjay Salunkhe, founder of Jaro Education highlights how young professionals can adapt to the evolving AI-driven landscape in the creative industry.
