Indian benchmark indices, Sensex and Nifty, surged over 1 per cent, recovering from two days of losses, driven by a strong rally in IT stocks, particularly TCS, and a moderation in global crude oil prices.
Mumbai Police have arrested five individuals, including two constables from Jharkhand and Bihar, for their involvement in an inter-state syndicate illegally procuring and supplying Call Detail Records (CDRs), Subscriber Detail Records (SDRs), and live location data. The racket was uncovered after the arrest of a suspect who impersonated a police officer to track lost phones using illegally sourced data.
The data may include details of foreign bank accounts, investment accounts, certain financial investments, interest income, dividends and other specified financial income held by Indian tax residents abroad.
A video showing a senior woman IPS officer, Ankita Sharma, firing an AK-47 during a traditional Shastra Puja on Dussehra in Rajnandgaon, Chhattisgarh, has gone viral. The incident has ignited a debate over weapon handling protocols and safety, with some defending her actions as tradition while others, including military experts, criticised the perceived recklessness.
A case has been registered against two Brihanmumbai Municipal Corporation (BMC) engineers and a private individual for allegedly demanding a Rs 3.5 lakh bribe from a contractor. The bribe was sought to clear bills for civic works in Mumbai's M-East Ward. The Anti-Corruption Bureau (ACB) has registered a case and conducted searches.
India's largest private-sector lender, HDFC Bank, is undergoing a significant leadership transition with several long-serving executives, including Deputy Managing Director Kaizad Bharucha and outgoing MD & CEO Sashidhar Jagdishan, set to depart, leaving incoming MD & CEO Anup Bagchi to oversee a major overhaul.
The Uttarakhand Vigilance Department arrested Dr Ankur Thakur, an orthopaedic surgeon at Rudraprayag District Hospital, for allegedly accepting a bribe of Rs 5,000 to issue a disability certificate. The arrest followed a complaint and a trap laid by the department.
The National Payments Corporation of India (NPCI) has deferred the implementation of a 0.4 per cent Merchant Discount Rate (MDR) on Person-to-Merchant UPI transactions above Rs 2,000. Originally set for October 15, the new date will be announced after Diwali, providing relief to users and merchants, especially during the festive season. The decision came amidst opposition concerns about the levy burdening consumers.
Ten key players, including previous season's most expensive buy Devank Dalal and Ashu Malik, have been retained by the five franchises of the Kabaddi Champions League for its second edition. This move aims to ensure continuity and build strong teams ahead of the October 17 auction where remaining positions will be filled.
Congress leader Jinto John criticised the UDF government for opting for a preliminary inquiry instead of an FIR against LoP Pinarayi Vijayan and his family in the alleged CMRL bribery case. This comes after the Kerala High Court dismissed petitions challenging an order to register an FIR. The Enforcement Directorate alleges fraudulent payments to Vijayan's daughter's company.
Three young cricketers from Beed, Saurabh Navale, Sachin Dhas, and Rishikesh Sonawane, have been selected for the Maharashtra Ranji Trophy squad, marking a historic first for the district. Their selection highlights their hard work and talent despite limited local facilities, inspiring future generations. Prithvi Shaw will captain the Maharashtra team.
Reserve Bank of India (RBI) Deputy Governor Rohit Jain has warned that financial institutions' increasing reliance on a small number of common technology providers, including cloud and AI model providers, could create a new source of systemic risk. He highlighted 'speed, concentration and opacity' as key risks, noting that a disruption at one provider could rapidly spread across multiple institutions, amplifying existing financial risks.
A report by IIT-Bombay professors recommends reducing the Merchant Discount Rate (MDR) on UPI transactions from 0.40 per cent to 0.08 per cent. It suggests that banks should fund the UPI ecosystem using their net interest margins from CASA deposits, rather than relying on MDR. The report also addresses transaction costs, credit card MDR, and ATM withdrawal allowances, aiming to ensure UPI's long-term sustainability and public trust by proposing remuneration only from large merchants.
'There's been a sense of FOMO, fear mongering and that has led to token consumption without linkages to ROI and without linkages to outcomes.'
India has issued an advisory for its nationals in Saudi Arabia to remain vigilant and stay indoors due to an escalating security situation involving Houthi attacks on civilian infrastructure, including airports. The advisory also cautions against circulating related news and confirms the normal functioning of Indian diplomatic missions. Flight services from India to Riyadh have been cancelled by Air India and Air India Express until October 10 following the attacks.
The Enforcement Directorate (ED) has claimed that Rs 860-Rs 880 crore generated from an alleged liquor scam in Chhattisgarh during the previous Congress regime was delivered to the Pradesh Congress Committee office in Raipur. The agency filed a supplementary chargesheet against former PCC treasurer Ramgopal Agrawal and provisionally attached his properties worth Rs 9.06 crore. The ED alleges a liquor syndicate controlled the state excise department, generating over Rs 2,883 crore in illegal proceeds.
Mobile payments pioneer Paytm reported significant growth in its UPI payments business for Q1 FY27, driven by app simplification, AI investments, and a focus on attracting Gen Z customers. The company saw a 45% year-on-year increase in Consumer UPI Gross Transaction Value and a rise of 60 lakh in Monthly Transacting Users, outpacing the industry. Paytm's strategy prioritises customer retention and product innovation, leading to a profitable quarter with strong revenue and EBITDA growth, further supported by AI-led operational efficiencies and an India-focused language model.
Sunil Gavaskar launched "Sanjay Jagdale: Rag-Rag Mein Cricket," a book detailing the life and contributions of former BCCI secretary Sanjay Jagdale. Gavaskar praised Jagdale's dedication to cricket, highlighting his roles as player, coach, and administrator, and expressed hope that the book would inspire young cricketers.
By the time she finished her term as SBI chairman, she was overseeing over two lakh employees, 24,000 domestic branches, 100 international ones and a bank that had stepped into the technological age and become youth-friendly. Meet Arundhati Bhattacharya, the first woman chairman of the State Bank of India and president and CEO, Salesforce, South Asia.
Infosys co-founder Nandan Nilekani stated that artificial intelligence will amplify, not replace, IT firms, projecting a massive USD 400 billion AI-first services opportunity by 2030. Addressing shareholders, he highlighted Infosys's readiness to help clients navigate enterprise AI complexities and capitalise on the structural shift in technology.
Trai has brought app-based spam calls under tighter regulations through new A2P call rules.
IT services stocks have had tough two years, with prices coming under pressure from 2025 and the sell-off extending through the first half of 2026.
The Kerala Legislative Assembly has passed a motion urging the central government to completely withdraw the proposed Merchant Discount Rate (MDR) on UPI transactions exceeding Rs 2,000. Chief Minister V D Satheesan and CPI MLA K Rajan highlighted concerns that the MDR would increase business costs, harm small businesses, and reduce the appeal of digital payments, while the BJP argued it would not affect general public or small merchants.
Rahul Gandhi has written to President Droupadi Murmu, urging her to ask the government to reconsider the appointment of Dushyant Gautam as Governor of Sikkim. Gandhi argues that Gautam's appointment, while a CBI probe into the Ankita Bhandari murder case is ongoing, places him beyond the reach of investigation due to gubernatorial immunity. Ankita's parents allege Gautam's involvement and have protested the appointment.
Punjab & Sind Bank MD and CEO Swarup Kumar Saha clarified that merchants cannot pass on Merchant Discount Rate (MDR) charges to customers for UPI payments, ensuring consumers only pay the displayed price. The new MDR structure, effective October 15, applies a 0.4% charge on P2M transactions above Rs 2,000, with specific flat rates for certain sectors, but small-value transactions remain free.
Mid and smallcap mutual fund schemes in India have quadrupled their assets under management (AUM) to 10 trillion in five years, driven by strong investor inflows and market gains, with experts anticipating continued growth despite mixed valuations.
A new report reveals a significant shift in India's AI hiring landscape, moving from experimental roles to those focused on deployment, integration, and scaling of AI solutions. Employers, including GCCs, IT services, and enterprises, are increasingly seeking professionals who can implement AI across core business operations, leading to a demand for core AI roles that currently outstrips the available supply.
Air Chief Marshal AP Singh stated on Sunday that the Indian Air Force's Operation Sindoor demonstrated its capability to strike targets across the Western front, serving as a warning to adversaries. He highlighted the operation's validation of the IAF's capability-centric approach, indigenous weapon systems, and commitment to zero collateral damage, while also outlining the force's long-term vision for 2047 to become a multi-domain aerospace power.
India is strategically positioned to develop a robust domestic semiconductor ecosystem, driven by increasing electronics consumption, strong government support through incentives, and a global shift in supply chains. Boston Consulting Group Managing Director Ankush Wadhera highlights India's potential as a safe haven for investments, with the AI boom further fuelling demand for advanced chips. The nation aims to expand its capabilities across the entire semiconductor value chain, attracting significant global and domestic investments.
Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu congratulated the State Cooperative Bank on successfully migrating its core banking system to the 'Finacle 10.2.25' platform. This upgrade aims to provide faster, more transparent, and secure financial services, enhancing customer experience and operational efficiency across its 262 branches.
The Jammu and Kashmir Crime Branch has filed a chargesheet against 15 individuals in the Kishtwar minor's rape and death case. The chargesheet alleges a criminal conspiracy to conceal the sexual assault, intimidate the victim's family, and illegally terminate her advanced pregnancy. The 15-year-old tribal girl died on August 20 following an alleged abortion attempt after being repeatedly sexually assaulted by a teacher, resulting in pregnancy. Accused include the main perpetrator, health workers, and community elders involved in the cover-up and pressure tactics.
A Jefferies report warns that the IT services sector is set for a structural shift due to AI, requiring talent and operating model overhauls and increasing cyclicality.
Apple Pay has officially launched in India, integrating with CCAvenue and partnering with Axis Bank to bring secure and convenient mobile payment solutions to millions of iPhone, iPad, and Apple Watch users across a vast network of merchants.
Union Minister Ashwini Vaishnaw warned of increased global turbulence from tech disruptions, AI, and financial risks in the coming years. He stated that India is strengthening its economic and technological resilience to protect its growth from external shocks. India is focusing on domestic manufacturing and design in critical tech areas while maintaining global integration, with trust becoming as crucial as cost in supply chains.
Security has been intensified at the Noida-Delhi borders ahead of a major protest by the Cockroach Janata Party (CJP) in Delhi on Saturday, demanding the Chief Election Commissioner's resignation. Police and BSF personnel are deployed, conducting checks, and placing barriers. Commuters from Noida and Greater Noida are concerned about potential traffic disruptions, though Noida Metro services are confirmed to run as usual. Some activists allege house arrest.
The Rajasthan Anti-Corruption Bureau arrested two middlemen and detained a Central GST superintendent for allegedly demanding and accepting a Rs 25 lakh bribe to settle tax evasion matters and activate a firm's account.
N Chandrasekaran's exit marks a major shift for TCS, leaving its leadership to navigate AI disruption without the group chairman's deep expertise.
Air India is developing a new in-house 'Vista Digital Platform' for its in-flight entertainment system, set to launch progressively from late 2027. This platform aims to integrate entertainment, loyalty, commerce, and travel services, enhancing passenger experience and boosting ancillary revenues through features like 'commerce-on-map' and personalisation.
Indian equities, particularly the Nifty 50, have significantly underperformed their Asian and global counterparts over the past year, with the index down 10.6 per cent. This lag is attributed to factors like rising global oil prices, rupee depreciation, and a lack of participation in the global chipmaker rally that boosted markets like South Korea and Taiwan.
As AI enters astrology apps and predictions, technology is becoming a new interface for humanity's oldest questions about uncertainty and the future.
