The Union Cabinet has approved a draft bill to introduce stricter punishments for examination paper leaks, following Prime Minister Narendra Modi's announcement. This new legislation builds upon the Public Examinations (Prevention of Unfair Means) Act, 2024, aiming to curb cheating in public examinations conducted by various central agencies amidst recent controversies like the NEET and NET paper leaks.
The DMK has announced it will meticulously examine the proposed delimitation Bill when it is introduced in Parliament, making a decision based on its merits to safeguard Tamil Nadu's interests. The party's stance will be independent, without consultation with the Congress party, despite their former alliance.
Amid renewed speculation about political realignments and a potential merger, senior leaders from two Nationalist Congress Party (NCP) factions met Maharashtra Chief Minister Devendra Fadnavis. NCP (SP) working president Supriya Sule clarified her party's position on the proposed Delimitation Bill, stating that while a uniform 50 per cent increase in seats across states would be hard to oppose, any final decision would be made after discussions within the INDIA bloc.
Parliament embraced Gen Z lingo during a Lok Sabha debate on the crucial anti-paper leak amendment bill.
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.
India's Monsoon Session of Parliament concluded with significantly low productivity, marked by frequent disruptions and protests from the Opposition, primarily the Congress, leading to minimal debate on key legislation.
The bill, introduced on Thursday, was conceived by Democrat Senator Richard Blumenthal and late Republican Senator Lindsey Graham and has the support of over 60 lawmakers.
Jammu and Kashmir Chief Minister Omar Abdullah has expressed support for the Centre's decision to levy charges on UPI transactions, citing the cost of maintaining the digital payment infrastructure. However, he emphasised the need to protect retail consumers from these fees. Abdullah also discussed the upcoming seven-day Assembly session, highlighting the government's commitment to smooth functioning and addressing MLAs' concerns, and touched upon efforts to tackle drainage issues affecting water bodies.
Congress leader Rahul Gandhi has accused the Modi government of quietly paving the way for imposing fees on UPI transactions, alleging it's a surrender to American pressure. The government's recent notification exempts charges only up to Rs 2,000, sparking concerns that higher value transactions and eventually all UPI payments could incur fees. Finance Minister Nirmala Sitharaman, however, clarified that Merchant Discount Rate (MDR) applies to merchants, not customers, and supports digital infrastructure.
The Indian government has mandated that banks and payment providers cannot levy charges on UPI transactions up to Rs 2,000 or on payments made via RuPay debit cards. This directive follows an amendment to the Payment and Settlement Systems Act, 2007, aiming to sustain and expand the digital payments ecosystem.
Indian benchmark indices Sensex and Nifty experienced significant declines in early trade, driven by soaring crude oil prices amidst escalating tensions in West Asia, coupled with weak global market trends and foreign fund outflows.
The BJP has accused the Congress and its INDIA bloc allies of deliberately disrupting the Monsoon Session of Parliament, alleging that their conduct has prevented discussions on key Bills and exposed the Opposition's 'double standards' on issues such as paper leaks and student protests.
Farmers under the Samyukta Kisan Morcha have initiated a week-long protest at the Chandigarh-Mohali border, demanding a minimum support price (MSP) based on the C2 plus 50 per cent formula, debt waivers, and opposing the proposed India-US trade deal, Electricity Amendment Bill, and Seed Bill. They also raised concerns about water depletion and sought resolutions based on riparian principles.
Indian benchmark equity indices, Sensex and Nifty, closed mixed on Friday. While a drop in crude oil prices offered some relief, weakness in IT stocks and several Tata Group counters, including a significant dip in Tata Chemicals and ongoing boardroom issues at Tata Sons, limited a broader market recovery.
A high-level committee, including representatives from banks and payment associations, is set to decide on Merchant Discount Rate (MDR) for UPI transactions exceeding Rs 2,000 to merchants. While person-to-person and person-to-merchant transactions up to Rs 2,000 remain free, the move follows a recent amendment to the Payment and Settlement Systems Act, sparking debate and clarification from the Finance Minister that only certain high-value merchant transactions might incur charges.
Maharashtra Deputy Chief Minister Eknath Shinde has announced the suspension of Shiv Sena Palghar city president Rahul Gharat following an alleged assault on hospital staff, including a doctor, by party functionaries. The incident occurred at Relief Hospital in Palghar over a dispute concerning medical bills for Dahi Handi participants. Shinde condemned the violence, stating that such behaviour would not be tolerated and that grievances should be addressed through legal channels.
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.
'Nitishji as CM never supported the UCC and publicly expressed his strong reservations over UCC.'
The Indian government has introduced a 0.4% Merchant Discount Rate (MDR) on UPI person-to-merchant (P2M) transactions exceeding Rs 2,000, effective October 15. This move ends nearly six years of fully free UPI payments, though person-to-person (P2P) transfers and small P2M payments remain free. The charges aim to bolster investment in UPI infrastructure, with specific exemptions and caps for essential sectors.
The US Open semi-final between American tennis stars Ben Shelton and Frances Tiafoe attracted a host of celebrities from sports, film, and fashion, including Serena Williams and Trinity Rodman, to witness Shelton's victory.
Moody's Ratings has sharply increased India's GDP growth forecast for fiscal 2026-27 to 7 per cent, making it the fastest among G20 economies, driven by economic resilience despite the Middle East conflict. However, the agency flagged significant inflation risks stemming from elevated oil prices and potential El Nino disruptions.
A 37-year-old government contractor in Navi Mumbai died by suicide due to severe financial strain from unpaid bills for completed work. Opposition parties in Maharashtra have accused the state government of negligence, demanding a culpable homicide case against the administration and highlighting a pattern of such incidents among Marathi contractors.
Young Indian shooters Himanshu Dhillon and Rudrankksh Patil secured individual silver and bronze medals respectively in the men's 10m air rifle event at the Asian Games. They also combined with Parth Mane to win a team silver, contributing significantly to India's medal tally in shooting.
Digital money is gradually starting to behave like software. It's no longer inert -- sitting passively in accounts. In the not-so-distant future, your money could become 'smart' and 'active,' understanding your preferences, paying your bills automatically, optimising your returns, and managing your risks -- all without you having to manage the details.
'If you listen to a rowdy in a class, he will keep on bullying you.' 'India can say do whatever you want. We will not compromise on anything.'
'UPI has been free since Covid, so why is the government charging us now?'
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".
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.
The Congress Working Committee (CWC) is set to meet to discuss the political situation in India, focusing on strategies to pressure the government regarding student issues, alleged embezzlement at the Ram temple, and upcoming Assembly elections. The meeting will also address the women's reservation bill.
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 Indian Parliament has passed a bill amending the Transgender Persons (Protection of Rights) Act 2019, focusing on biological discrimination and excluding social orientations from its scope. The bill aims to provide legal recognition and protection to transgender individuals facing discrimination due to biological issues, while also introducing graded punishments for harm inflicted on them.
Several vital parliamentary committees, including those dealing with ethics, rules, and financial matters, are yet to be formally reconstituted. This delay affects the functioning of the Lok Sabha and the oversight of government operations.
Shiv Sena (UBT) leader Sanjay Raut has accused the Centre of orchestrating a political conspiracy through the CBI's FIR in the Disha Salian death case. Raut claims the probe is designed to tarnish the Thackeray family's reputation and target Aaditya Thackeray, linking it to broader political manoeuvres and an ongoing Supreme Court case.
The Reserve Bank of India (RBI) has introduced new features for India's digital payment ecosystem, including UPI tap-to-pay for PIN-less transactions up to 5,000 and multi-currency capabilities for forex on Bharat Connect, supporting Euro, British Pound, and other major currencies.
The Congress party has criticised the Modi government over a notification regarding UPI transactions, alleging it paves the way for imposing fees, especially on transactions above Rs 2,000. Rahul Gandhi claimed the government is surrendering to American pressure, while Mallikarjun Kharge highlighted the potential burden on common citizens amidst inflation. The government's notification prohibits charges on UPI transactions up to Rs 2,000 but remains silent on higher amounts, sparking fears of a "Digital Payments Tax."
The Centre has spent 28 per cent of its FY27 capital expenditure budget of Rs 12.21 trillion in the first three months against around 24.5 per cent during the corresponding period a year ago.
A PL Capital report projects India's LPG subsidy bill to exceed Rs 1 lakh crore in FY27, creating a significant Rs 70,000 crore gap over the Union Budget's Rs 30,000 crore allocation, driven by the government and OMCs absorbing higher fuel and LPG price increases.
Merchants will be subject to an 18 per cent Goods and Services Tax (GST) on the Merchant Discount Rate (MDR) for UPI payments exceeding Rs 2,000, but can mitigate this burden by claiming input tax credit (ITC), according to tax experts.
The Retailers Association of India (RAI) has voiced concerns that the government's new 0.4 per cent Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000 could reverse the progress of digital payment adoption among small retailers. This fee, effective October 15, places the burden on merchants operating on thin margins, potentially pushing them back to cash transactions and undermining the government's formalisation agenda, especially ahead of the festive season.
