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.
'We could well be in a world where AI already has these dangerous capabilities and that is why there is a need for careful scientific evaluation to determine the risk and capabilities of these machines.'
The Congress party has criticised the government's new 0.4% charge on UPI transactions above Rs 2,000 for merchants, terming it a "Modi tax". Opposition leaders, including Rahul Gandhi and Mallikarjun Kharge, allege that this move will ultimately burden consumers through price hikes and accuse the government of succumbing to American pressure to dilute India's zero-MDR policy. The government states the charge will support banks and fintechs.
The Indian government has introduced a 0.4% transaction fee on Unified Payments Interface (UPI) payments exceeding Rs 2,000 for merchants, effective October 15, marking the end of nearly six years of free service. Person-to-person transfers and small-value transactions below Rs 2,000 remain free. The new Merchant Discount Rate (MDR) is capped at Rs 300 for transactions above Rs 75,000, with differentiated rates for essential sectors and investments, and safeguards to prevent costs from being passed to consumers.
A new study published in The Journal of Neuroscience reveals a precise connection between individual breath patterns and neural activity in the brain. Researchers found that subtle variations in each breath, such as longer inhales or slower exhales, are directly reflected in corresponding brain activity patterns. This goes beyond traditional measures of breathing rate, offering a richer understanding of how respiration influences cognition, emotion, and memory, and could have implications for conditions like SUDEP and SIDS.
A new review reveals that microplastics are not just pollutants but also act as carriers for toxic chemicals, microorganisms, and antibiotic resistance genes across various environmental compartments. This "Trojan horse effect" allows them to transport persistent organic pollutants and heavy metals, releasing them into organisms upon ingestion. Additionally, microplastics foster microbial communities, known as the plastisphere, which can accelerate the spread of antimicrobial resistance, amplifying ecological hazards.
'A lot of people feel there is pressure on the AAIB not to go against Boeing or GE -- both enormous American companies.' 'If the AAIB implicates Boeing or GE, it will impact their sales.' 'If their sales are impacted, jobs are lost in the United States. No government would willingly do that.'
The Bangalore Water Supply and Sewerage Board (BWSSB) is set to explore the use of AI, predictive analytics, and robotic inspection technologies to detect water theft, reduce leakages, and improve operational efficiency across Bengaluru's water distribution network.
Indian physicist Deepak Dhar, a professor at ICTS-TIFR in Bengaluru, has been awarded the prestigious 2026 Dirac Medal for his significant contributions to statistical mechanics. He shares the honour with three other physicists for their work on understanding complex systems, with applications in diverse fields like biology, finance, and AI. Dhar is particularly recognised for his "sandpile model" and has previously received the Padma Bhushan and Boltzmann Medal.
Finance Minister Nirmala Sitharaman convened a high-level meeting with bank heads to assess cybersecurity risks linked to advanced AI models, following concerns over Anthropic's Claude Mythos system and its potential impact on financial data security.
Finance Minister Nirmala Sitharaman met with bank heads to discuss the risks associated with Artificial Intelligence (AI) following global concerns about Anthropic's Mythos model and its potential threat to financial systems' data security.
'It could be in IT, it could be in administration, it could be in legal, it could be in technical services, but entry level jobs are rapidly disappearing because AI is taking them over.' 'So, the big question what would happen if the bottom rung of the ladder is removed?'
NeoGeoInfo Technologies, a spatial intelligence solutions provider, has secured a Series A investment of approximately USD 20 million from Neev II Fund and Aavishkaar Capital. This funding will fuel the company's R&D, expand its international presence in the Middle East and Americas, and strengthen its team for complex projects.
National Anti-Doping Agency (NADA) Director-General Anant Kumar highlighted the need for a collective effort from all stakeholders in the Indian sports ecosystem to reduce doping incidents. He made these remarks during a National Roundtable on Doping Prevention in Sports, which discussed various factors contributing to doping and strategies for prevention.
He accused the firm of trying to interfere with how the US military operates and threatened further action if it does not cooperate during a six-month phase-out period.
The Indian IT Ministry has engaged in 'hard talk' with Meta regarding child sexual abuse material (CSAM), leading to increased sensitivity and action from the tech giant. The government asserts that Indian laws must be followed and social media harms mitigated, with no safe harbour for violations. Discussions also covered AI labelling and the WhatsApp username issue, highlighting a global concern over social media harms.
The All India Football Federation (AIFF) has imposed a national ban on Churchill Brothers FC Goa for player registration, following a directive from the FIFA Disciplinary Committee due to unpaid dues to English forward Kurtis Owen Guthrie. The Goan club, however, claims the matter has been resolved with full payment made and a request sent to FIFA to lift the ban.
Taxpayers must provide more details to support deduction and exemption claims.
Is this one car with options, or three distinct vehicles? Rajesh Karkera/Rediff.com finds out.
Finance Minister Nirmala Sitharaman met with bank heads to discuss risks related to Artificial Intelligence (AI) following global concerns over Anthropic's Mythos model threatening data security of financial systems.
'India is vulnerable to the West Asia crisis in three ways: Energy costs, the business Indian companies conduct in the region, and remittances from the Indian diaspora.'
Professor Philip Maini, an Indian-origin academic at the University of Oxford, is pioneering the application of mathematical biology to understand and develop new cancer therapies. His work focuses on creating models that predict treatment outcomes and developing adaptive therapy strategies to combat drug resistance in tumours, offering a novel approach to improving patient care.
A new study by MIT and Boston University found that the brain region responsible for language remains active and similar in older adults compared to younger adults. However, the brain system for decision-making, known as the 'multiple demand network', shows significant differences with age. This suggests that specialised brain functions like language processing may be more resilient to ageing than general-purpose cognitive functions.
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.
'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.'
Air Marshal (retd) Jeetendra Mishra has been appointed as the first Chief Executive Officer (CEO) of the Shri Ram Janmbhoomi Teerth Kshetra Trust. His selection follows a rigorous process and comes amidst a recent controversy regarding alleged embezzlement of temple donations.
Prime Minister Narendra Modi, addressing the BRICS summit, called for a fundamental shift in global governance, advocating for the replacement of the current 'pyramid of privilege' with a 'platform of partnership' where the Global South becomes a 'rule shaper' rather than a 'rule follower'.
A new book, "The River That Remembers: Microbial Intelligence of Nature" by Padma Shri awardee Ajai Kumar Sonkar, claims that the Triveni Sangam at Prayagraj is a unique viral-bacterial laboratory. It suggests that the sacred dips taken by devotees lead to an intense microbial exchange, accelerating phage evolution, especially during events like Kumbh Mela, as diverse human microbiota interact with the river's existing microbiome.
India's UPI system continues its rapid growth, dominating retail payments. Recent amendments to the Payment and Settlement Systems Act allow for targeted Merchant Discount Rates (MDR) on high-value merchant transactions, aiming to create a self-sustaining revenue model for the ecosystem while keeping P2P and low-value payments free. This move could generate significant revenue and encourage ecosystem participation.
'Think of the brain like a machine, and Alzheimer's is like rust.'
'Like a rusty machine breaks down, a rusty brain also breaks down. And when it breaks down, you have memory loss, cognitive issues and so on.'
The Federation of Indian Pilots (FIP) on Thursday renewed its demand for a judicial probe into the AI-171 crash and urged authorities not to release any interim investigation report, saying it would create further confusion and speculation.
India's newly formed Artificial Intelligence Governance and Economic Group (AIGEG) is set to advocate for a unified legal framework for AI companies, including developers of large language models and chatbot systems, alongside broader operational rules.
The White House has launched a major crackdown on the 'Great Transhipment Scam', accusing India and over 40 other nations of helping Chinese exporters bypass US tariffs by misrepresenting the origin of goods. The US plans to use AI-driven monitoring and anti-transhipment clauses in future trade agreements to strengthen enforcement.
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.
Union Health Secretary Punya Salila Srivastava highlighted the strong health cooperation within BRICS, emphasising the critical role of digital health and artificial intelligence in ensuring continuity of care. Speaking at the 16th BRICS Health Ministers' meeting, she noted shared challenges among member nations and showcased India's advancements in digital health infrastructure and AI strategy.
The Department of Personnel and Training (DoPT) in India is actively integrating artificial intelligence (AI) into government processes to enhance efficiency, transparency, and accuracy. Initiatives include AI-enabled solutions for salary processing, grievance handling, and training content development, with a focus on data security and ethical use.
A recent study published in npj Aging reveals that epigenetic clocks, which estimate biological age by measuring DNA methylation, capture various aspects of aging biology, including immune system changes, metabolism, and cell communication. Researchers also developed new gene-expression-based clocks that show stronger predictive power for age-related diseases and mortality.
Unified Payments Interface (UPI) transactions in India reached Rs 29.8 lakh crore in August, approaching record levels. Volume also hit a new high of 24.51 billion transactions, driven by festive activities like Raksha Bandhan. The digital payment system continues its rapid growth, expanding its global presence to 11 countries, with further growth anticipated during the upcoming festive season and new use cases like credit on UPI.
A joint study by IBM and IndiaAI, a MeiTY initiative, indicates that Artificial Intelligence (AI) has the potential to contribute over USD 500 billion to India's economy by 2030. The report highlights the need for improved AI literacy, infrastructure, and data quality to fully realise this potential.
Air India Group has accumulated losses of about Rs 47,821 crore since its takeover, leaving its prolonged transformation among the biggest unfinished projects of N Chandrasekaran's tenure.
