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Bessent Vs Waters Shouting Match Erupts As Economy Hearing Heats Up | Watch
Rep. Maxine Waters and Treasury Secretary Scott Bessent clashed during a heated House Financial Services Committee hearing over tariffs, inflation and the Trump administrations economic policies. Waters repeatedly reclaimed her time as she pressed Bessent on the impact of tariffs and rising prices. The exchange escalated when Bessent told Waters, Youre not making sense. The fiery confrontation came as lawmakers questioned the Treasury secretary about inflation, interest rates and the administrations broader economic agenda.
More households are moving up the income ladder: How India's wealth pyramid could change by FY31
Indias income pyramid is shifting rapidly, with millions of households moving into higher-income brackets. As earnings rise, spending patterns, savings, and investment behaviour are also changing.
Consumer watchdog steps up probe into Apple on iOs 18 software update issues
Consumer watchdog investigates Apple for potential iOS 18 user rights violations. This probe follows numerous complaints regarding device malfunctions after the software update. The authority also imposed a significant penalty on ride-hailing platform Rapido. Rapido was fined for employing misleading interface designs and dark patterns. These practices were found to steer customers towards higher payments for rides.
Mobiles phones with low specs make a comeback in premium market
Entry-level smartphones with 2GB or 3GB RAM are making a comeback. Brands like Itel and Lava are targeting this segment with new models. Major brands have shifted focus to premium phones, leaving a market gap. Shipments in this segment have significantly declined due to rising costs. However, demand for budget phones remains strong, especially in smaller towns.
Decoding Indias GDP base revision
A major driver of the revision in nominal GDP in the case of India is the improved measurement of Indias unincorporated services sector
Air India Board clears all decks as new chief Tewolde Gebremariam enters the cockpit
Air India's board met to discuss operational priorities and remuneration for incoming CEO Tewolde Gebremariam. Outgoing CEO Campbell Wilson presented the airline's current operational position and progress made. Chairman N Chandrasekaran outlined expectations for the new leadership's focus on reliability and execution. Gebremariam will now lead the airline's demanding turnaround stage and integration efforts. The board also acknowledged Wilson's contributions to Air India's transformational journey.
Hindustan Coca-Cola Beverages lines up 1,127 crore for new unit, expansion in Andhra Pradesh
Hindustan Coca-Cola Beverages is set to invest over Rs 1000 crore in Andhra Pradesh, focusing on enhancing beverage production. A new manufacturing unit will be built in Vizianagaram, complementing the expansion of an existing facility. This strategic move, sanctioned by the State Investment Promotion Committee, aims to meet the increasing demand for beverages across southern India.
BNP Government of Bangladesh reviews 101 pacts signed with India
Dhaka is reviewing one hundred and one agreements signed with New Delhi. Bureaucrats trained in India over the past decade may face scrutiny. The ruling party alleges past governments compromised national interests with a friendly nation. Goods-laden vehicles from that country were reportedly allowed free road use.
AI could disrupt traditional entertainment studio model as production costs fall
Artificial intelligence is revolutionizing the landscape of entertainment production, offering creators remarkable cost savings. Smaller production companies can now bring projects to life while maintaining their intellectual property rights. With generative AI at the forefront, content creation in areas like audio and microdramas is already gaining momentum. This shift is predicted to ripple across film and high-quality scripted series, leading to significant growth in innovation and content output.
Flipkart plans to hire 250,000 workers to meet festive blitz
Flipkart plans to hire over 250,000 workers for the upcoming festive season. This significant recruitment drive will increase last-mile delivery positions by 60 percent. Approximately 75,000 new workers will be entering the workforce for the first time. The company is expanding its delivery network with new hubs and employment opportunities. This expansion aims to meet rising customer demand during the Big Billion Days event.
El Nio effect: Kharif crops, winter sowing face stress as drought hits 53% of India
El Nio effect: El Nio has left more than 50% of India grappling with drought conditions, severely affecting kharif crops currently in the fields. Maharashtra has been particularly hard hit, with extreme drought affecting a large part of its agricultural areas. Other key agricultural states are also experiencing varying levels of drought, raising concerns about crop yields and soil moisture levels as winter sowing approaches.
US seeks details of India's rice stocks used for Ethanol output
The United States has sought details from India on the use of rice for ethanol production. Washington has alleged that Indias rice stocks exceed food security requirements, affecting global trade. Indias price support policies have also been cited as contributing to higher domestic rice supplies. The World Trade Organization is expected to discuss these concerns later this month. Indias allocation of rice for ethanol production has reportedly increased significantly.
US Congressman names India, China in Russia Sanctions Bill
US lawmakers are considering tariffs on Russia's oil trading partners, including India. One amendment proposes 100% tariffs on countries like India and China. Another amendment seeks to remove the tariff provision entirely from the bill. India's energy sourcing policy prioritizes national interests amid these developments.
ED to fast-track 10 big PMLA cases in each region
The Enforcement Directorate aims to expedite money-laundering trials within eight months. Zonal offices will identify key cases for accelerated prosecution and conviction. A new trial monitoring system will track case progress and delays. The agency is also expanding its sanctioned strength by sixty percent. This structural change will enhance the directorate's operational capabilities significantly.
Indias goods exports surged in August, driven by robust global demand, while the trade deficit narrowed to a five-month low as imports declined. Key free trade agreements are on track for finalisation, while exporters are being prepared for the European Unions Carbon Border Adjustment Mechanism. Trade ministers are also set to address bilateral concerns and review the status of ongoing free trade negotiations.
WTO cites India-EFTA trade deal as unilateral mechanism to achieve market access outcome
Trade agreements beyond the multilateral trading system can also offer examples whereby unilateral enforcement mechanisms have been tailored to the particular market access outcome arrived upon, according to the WTOs World Trade Report 2026. Given the target-based structure of the FDI commitment, the parties chose an enforcement mechanism which would permit India to unilaterally reimpose tariffs if it determined that the targets had not been met, the WTO said.
India's exports to US rise 21.83% in Aug; shipments to China jump 52.35%
The inbound shipments rose 17 per cent to USD 12.77 billion from China and by 65.78 per cent to USD 5.97 billion from the US, according to the ministry's data.
Government clarifies credit card-linked UPI payments exempt from 0.4% fee
The clarification comes ahead of the revised UPI fee structure, which is scheduled to take effect from October 15. Under the new framework, a 0.4% MDR will be applicable to certain direct account-to-merchant-account UPI payments above 2,000, with the fee capped at 300 per transaction
Mutual fund investors cannot always rely on a schemes category to determine capital gains tax. The actual portfolio allocation and tax classification can change the holding-period threshold and tax rate. Heres what investors should check before redeeming.
ET Under 40 2026: As AI races ahead, leaders urged to put purpose above success
Sivakumar Sundaram highlighted the importance of collective purpose at The Economic Times awards, urging awardees to utilize recognition as a foundation for ongoing contributions. He addressed the swift evolution of AI and stressed the necessity for aligning human values with technology. Cautioning against becoming overly reliant on devices, he emphasized that maintaining relevance demands a continual showcase of one's value and capability.
Nelson Mandela's wisdom teaches us the importance of resilience in the face of adversity. He championed the fight against apartheid and racial oppression in South Africa. His insights remind us that failure is merely a stepping stone on our path. Embracing our failures with an optimistic mindset can yield true success. By learning from our setbacks, we rediscover our strength to rise again.
Introduce UCC Bill in Parliament instead of pushing it via states: Omar to BJP
Jammu and Kashmir Chief Minister Omar Abdullah criticized the BJP's uniform civil code approach. He stated the bill should be introduced in Parliament, not through individual states. Abdullah argued that implementing the code state-by-state would not make it universal. He noted that not all NDA allies agree with the uniform civil code proposal. The Chief Minister emphasized Parliament represents the entire country, not individual states.
NPS Vatsalya: Rules for withdrawal and exit from scheme, explained
National pension scheme: The NPS Vatsalya Scheme allows children below 18 years to partially withdraw funds from their accounts under certain circumstances. We take a look at the process and how it works
DGFT should review notification aligning ITC(HS) code with Finance Act 2026
The real test is whether a bank can refuse to close an otherwise eligible entry merely because the customer disputes or declines to pay the charge.
Large & mid-cap funds offer investors a single-fund route to large and mid-cap stocks. But how do their returns compare with pure large-cap and mid-cap funds, and what does their portfolio allocation reveal about the differences?
Only 17% merchants willing to bear 0.4% MDR on UPI payments: Survey
LocalCircles survey finds 41% of merchants unwilling to bear any MDR on UPI payments above Rs 2,000, while 9% do not accept UPI payments
On December 8, GE Renewable Energy initiated a partnership with French waste management firm Veolia to recycle old blades from onshore wind turbines in the United States. The programme gave outdated turbine blades a new chance at life as a component of cement, making it the first recycling deal of its sort in the American wind energy industry.
Donald Trump's childhood residence in Queens has recently fetched $1.93 million. This charming Tudor-style home, featuring five bedrooms, had fallen into notable disrepair prior to its restoration. A diligent developer poured in $500,000 and spent eight months revitalising the property. This house provides a fascinating window into the early years of the once-future president, located within the prestigious Jamaica Estates neighbourhood, which his father transformed into a thriving empire.
RBI backs MDR on large-value UPI transactions, says could help expand UPI acceptance
The Reserve Bank of India supports Merchant Discount Rate on large UPI transactions. This move aims to ensure the long-term sustainability of India's digital payments ecosystem. New provisions will apply MDR to person-to-merchant transactions exceeding two thousand rupees. Person-to-person transactions and smaller merchant payments will remain free of charge.
5 early signs to watch: Lifestyle creep sneaks in after every promotion; how to overcome it
A promotion often leads to lifestyle creep, where increased spending diminishes savings. Check the importance of examining expenses post-promotion to maintain financial discipline.
RBI may hike rates by 25 bps each in Oct & Dec as inflation may cross 6%
Economists say the rate hike cycle could be shallow, with 50-75 bps hike in the current cycle
India bond yields above 7%: Why debt fund investors may find a sweet spot in the 35 year segment
Indian bond yields have crossed 7%, raising the question of where debt investors should look. Axis MF favours the 35-year segment, particularly high-quality corporate bonds and select SDLs, while remaining cautious on long-duration debt amid oil, inflation, and global rate risks.
Apple under scrutiny: India's consumer protection body steps up probe over iOS 18 related complaints
The Central Consumer Protection Authority has begun a detailed investigation into Apple's iPhone technical issues. This action follows a year of ongoing complaints from users after the iOS 18 update. A recent survey shows increased iPhone user complaints, which will aid the authority's probe. LocalCircles advocates for a class action, noting users await a proper fix.
Indian government allocates record sugar sales quota for September to rein in retail prices
The quota announcement comes ahead of Dussehra even as retail prices drop below 60 a kg
India ramps up preparedness for European Union's carbon tax; verifiers begin EU registry access
India is taking proactive steps by establishing a committee dedicated to assisting exporters in fulfilling the EU carbon tax requirements. This month, Indian verifiers are granted access to the EU's carbon tax registry, and from September 2027, domestic exporters will be mandated to submit returns. The government is actively collaborating with exporters to facilitate compliance and streamline verification efforts.
Livestock feed makers see rising competition for maize from ethanol producers
Want Goverment to secure supplies for feed sector as maize is single source of feedstock, says CLFMA Chairman Divya Kumar Gulati
Customs duty hike impact: Gold imports contract to USD 2.3 billion in August
Indias gold imports declined significantly in August following an increase in customs duty, while silver imports rose sharply during the month. However, during the April-August period, cumulative gold imports increased, whereas silver imports declined. Switzerland remained the largest source of gold imports, accounting for a significant share.
The commission's three-day visit to Chandigarh from September 16-18 will focus on employee and pensioner issues. Here's a look at what's on the agenda for meetings with representatives from Punjab, Haryana, Himachal Pradesh and the UT of Chandigarh.
Trade data: August saw a notable rise in Indias merchandise exports to both the US and China, with shipments recording strong year-on-year growth. Imports from the two countries also increased significantly during the month. From April to August, Indias exports to the US grew by more than 6%, while exports to Singapore surged sharply, highlighting varied trends in the countrys international trade.
High food inflation seen in August unlikely to persist: CEA Nageswaran
CEA V Anantha Nageswaran said India's economic momentum remained intact despite global risks and expressed confidence in meeting the FY27 fiscal deficit target.
Penguin Random House India to publish The Ideas That Shaped India and Its Economy
An ambitious intellectual history of nearly 150 years of Indian economic thought, tracing the debates, thinkers and ideas that shaped modern India
Goyal-Greer meeting likely on G20 sidelines in Milwaukee
India expects the bilateral trade agreement and other pending issues to figure in talks
Insolvency appeals are time-bound, no leeway beyond 45 days: NCLAT
The NCLAT stressed insolvency proceedings are time-bound and appeals must be filed promptly. An appeal against a revival order was rejected for exceeding the allowed time. The tribunal noted a maximum 15-day condonable period for delayed filings. The suspended director's explanation for delay was deemed insufficient by the bench. Consequently, the appeal was declared not maintainable and dismissed by the NCLAT.
Indias exports to US rise 21.83%, China shipments jump 52.35% in August
The latest trade data showed strong growth across key markets, even as Indias shipments to some major destinations declined during August.
WTO warns global output could fall up to 10% without stronger multilateral trade rules
Shifting economic power, rising state intervention, digitalisation, the green transition, and geopolitical tensions are making cooperation more complex: World Trade Report 2026
Telangana tops India's inflation table for eighth consecutive month
Telangana recorded the highest combined inflation among states in August at 6.27 per cent, while rural inflation exceeded urban inflation across most leading states.
CBAM: India working with the EU to secure recognition for accreditation body, verification agencies
Government helps exporters prepare for CBAM compliance and emissions verification requirements
AU Small Finance Bank bolsters leadership ahead of universal bank transition
AU Small Finance Bank appointed two new senior executives to its leadership team. Anil Agarwal and Amol Padhye joined the bank as part of its strategic expansion. These appointments precede the bank's planned transition into a universal bank. AU received in-principle approval from the Reserve Bank of India. The bank must complete this significant transition within eighteen months.
Talk about cool recycling! Old wind turbine blades are getting a second life as stylish sneakers. Spanish companies are turning this waste into awesome new products. They chop up the blades, mix them with rubber, and voil new shoe soles! It's a neat sign of how the renewable energy world is getting more sustainable.
Northern Railway has introduced an OTP-based digital luggage locker system at four major railway stations in Delhi, allowing passengers to store and retrieve their luggage independently and securely without assistance from railway staff. The facility is currently operational at New Delhi and Hazrat Nizamuddin stations, while Anand Vihar Terminal and Delhi Junction will become operational shortly. Passengers can use their mobile numbers for OTP verification, making the process of storing and collecting luggage convenient and hassle-free.
NPCI releases MDR framework for UPI transactions Here's what changes for merchant payments
UPI will remain free for all person-to-person transactions, merchant payments up to 2,000, and for small merchants, as per the NPCI's MDR framework. The organisation said it aims to promote digital payments and ensure UPI's sustainability.
Yes Bank has approached the Supreme Court challenging a recent Delhi High Court directive. The court ordered a forensic audit into the sale of Fortis Healthcare shares. Yes Bank argues it was not a party to the original arbitration proceedings. However, the bank does not oppose auditing Fortis and its former promoters. It will provide relevant transaction information within legal limits.
AISATS personnel under scanner over Air India hub-and-spoke immigration lapse
Ground-handling personnel suspended pending investigation, industry insider says
By reserving a fixed percentage of income immediately, individuals can reduce reliance on discipline and make spending decisions more manageable. Check all 8 tricks.
New UPI MDR rules explained: Will you pay more? What it means for users like you and me
UPI remains free for person-to-person payments under new MDR rules. Here's what changes for merchant payments and what it means for users like you and me.
Zetwerk gets factory-heavy as manufacturing order book hits 12,370 cr
The company operated 26 owned manufacturing facilities across India, the US, Spain and Germany as of March 31, 2026
Saatvik Green Energy bags order worth Rs 1042 crore from SECI
Saatvik Green Energy has clinched a substantial Rs 1,041.63 crore order from SECI to supply solar PV modules. This pivotal agreement, set to be fulfilled by December 2027, underscores a significant milestone for the renewable energy landscape. With this contract, Saatvik solidifies its position as a key player in advancing clean energy initiatives, promoting sustainable practices and innovation.
Beneath San Franciscos bustling streets lies a forgotten maritime past. During the Gold Rush of 1849, thousands of fortune seekers arrived in ships that were abandoned promptly when they felt in search of gold. By 1851, more than 800 vessels crowded Yerba Buena Cove, transforming its once-muddy shores into a forest of towering masts.
UPI Payments Above Rs 2,000 Face 0.4% MDR, Know- Who Will Actually Pay?
UPI merchant payments above Rs 2,000 face up to 0.4 percent MDR from October 15, but consumers, smaller transactions and eligible vendors remain exempt.
Rapido has been fined 10 lakh by the CCPA over prompts that allegedly nudged riders to pay more before rides were confirmed. Heres what the regulator found, how dark patterns can influence spending and what consumers should check before agreeing to pay extra.
Goods exports surge 26% in August to $43.8 billion, trade deficit narrows
The major drivers of trade deficit have been energy items like petroleum, crude and coal, coke and briquettes, and electronic goods
Kamarajar Port initiates plans for 1,200 crore IPO; issues RFP to hire domestic legal counsel
The selected legal counsel will manage end-to-end legal and secretarial due diligence, draft key offer documents
Chennai air cargo terminals face delays of up to 5 days, exporters turn to Bengaluru
Industry representatives have sought urgent measures to ease cargo movement, citing warehouse constraints, manpower shortages and traffic restrictions at Chennai airport
LIVE | Treasury Secretary Scott Bessent testifies before Congress on economy & global finance
India's current account deficit more than doubles to $7 billion in July
The merchandise trade deficit widened to $31.7 billion in July, while strong capital inflows helped push the balance of payments surplus to $20.8 billion.
India's economy shows resilience despite global geopolitical and financial challenges. Strong bank credit and GST collections support this positive economic outlook. Rising global interest rates and oil prices introduce volatility after a calm period. India's Chief Economic Adviser emphasizes the need for adaptation and innovation. Private sector investment and R&D are crucial for future economic growth.
Agartala-Delhi IndiGo flight diverted to Lucknow after cargo smoke alert; 109 safe
An IndiGo flight from Agartala to Delhi diverted to Lucknow after a cargo hold smoke alert. Emergency teams responded to the IndiGo flight which landed safely with 103 passengers and 6 crew members. This incident follows recent similar alerts involving Air India Express flights.
Reliance Communications Creditors request ED to release real estate properties worth 7,000 crore
The committee is expected to meet this Friday to evaluate the available options in light of the Supreme Courts spectrum judgment and the subsequent dismissal of the review petition
Mutual funds, stocks UPI payments to attract 0.02% MDR under new NPCI framework
New UPI rules will introduce a 0.02% merchant discount rate for capital market transactions. This special rate applies to mutual funds and investment platforms, capped at Rs 300. Standard person-to-merchant UPI payments above Rs 2,000 will attract a 0.4% charge. Other sectors like railways and telecom will see a flat Rs 5 fee. These changes aim to support UPI infrastructure and keep consumer payments free.
Rupee falls 0.42% to 95.96, posts sharpest decline since July 14
The domestic currency extended its losing streak to five sessions as rising crude oil prices, global bond yields and strong dollar demand weighed on the rupee
Dr. Reddy's launches nivolumab biosimilar in India
Dr Reddy's Laboratories has taken a significant step in cancer care with the introduction of NIVORZ, a biosimilar of nivolumab. Designed to enhance immune response against a variety of cancers, this new treatment has received approval from the DCGI for twelve specific indications. By making this intravenous therapy available, Dr Reddy's aims to broaden access to affordable, high-quality cancer care options for patients in need.
Indian economy more likely to be resilient amid global headwinds: CEA Nageswaran
Digital Desk | New Delhi, Sep 15 (IANS) The Indian economy is more likely to be resilient rather than becoming more vulnerable, Dr V Anantha Nageswaran, Chief Economic Adviser, said on Tuesday, citing strong bank credit growth, robust GST collections and healthy corporate and banking sector balance sheets. Nageswaran told industry leaders at Assochams Managing Committee Meeting and Special Session that while the resumption of hostilities in West Asia and rising interest rates across major economies, including a 10-year US Treasury yield of 5.02 per cent, had reintroduced volatility after a period of relative calm between March and July, India entered this phase of uncertainty from a position of strength. He noted the country's recent sovereign rating upgrade to A- and successful mobilisation of $137 billion through foreign exchange deposit swaps and external commercial borrowings, alongside high-frequency indicators such as vehicle sales, e-way bill generation and export growth, as evidence of sustained economic momentum. This is a period of churn and this is an inflection point, and therefore what served us very well in the first 45 years since independence and then the next 30 years in the liberalisation era, both of these things may not necessarily be adequate for the next 25 years. We need to raise our game in multiple respects, Dr. Nageswaran said. He added that individuals and households too would need to think about their mental, physical and emotional wellbeing, and that youngsters should stay open to trade skills rather than only conventional education paths as AI reshapes employment patterns. The private sector must invest, must hire and must compensate fairly and also invest in R&D because the next 20 years is going to be very different from the last 80 years post-World War II, said the CEA. The policy, he cautioned, could not carry the economy alone. Policy will play its part but policy cannot be the only instrument that drives the economy forward, he said, adding that the government would continue to remain growth supportive, maintain macroeconomic stability and pursue deregulation and ease of doing business both for small and large enterprises. The virtual session was attended by Nirmal K. Minda, President, Assocham; Past Presidents of the Chamber; senior members of the Secretariat; Council Chairs and Co-Chairs; sectoral leaders; and heads of member organisations across ASSOCHAM's network of industries.
UPI transactions up to Rs 2,000 will remain free for all users. A new Merchant Discount Rate (MDR) will apply to specified merchant payments above Rs 2,000. The revised framework aims to support investment in UPI infrastructure, innovation and cybersecurity. Most person-to-merchant (P2M) transactions will remain unaffected by the changes. The updated provisions will take effect from October 15, 2026.
US high school students are transforming plastic bottles into 3D-printer filament. This recycled material is then used to create essential tools for community clean-up efforts. The project, called Project Respindle, aims to establish a circular economy at a local level. Students collect plastic waste and process it into usable equipment for environmental organizations. This initiative demonstrates how technology can enhance recycling and promote environmental action.
August retail inflation raises chances of RBI rate hike in October, say economists
Inflation in August as measured by the Consumer Price Index (CPI) rose to a 20-month-high of 4.8%, driven up by rising food prices
Indias unemployment rate eases to 5% in August; rural rate falls to 4.1%
The latest labour data showed improving workforce participation alongside marginal declines in unemployment across the country, particularly in rural areas
Car sales jump over 30% in August as festive demand builds
Passenger car sales increased by over a third in August, reaching 439,309 units. This growth followed a decline in the previous year due to GST rate changes. Three-wheeler and two-wheeler sales also saw significant rises during the month. Industry experts anticipate continued strong demand through the festive season. Manufacturers are preparing for further sales increases with new model launches.
Pension Sakhis: Rural families to soon get a local guide for NPS and retirement planning
The government is stepping up efforts to improve pension awareness and retirement planning in rural India through a network of Pension Sakhis. The community-led initiative aims to bring pension information and support closer to households and encourage greater focus on long-term retirement security.
NPCI sets 0.4% fee on UPI merchant payments above 2,000, effective Oct 15
NPCI sets 0.4% fee on UPI merchant payments above 2,000, effective Oct 15
Expect EU to sign FTA and India-Canada negotiations to be completed by year-end, govt says
Commerce Minister Piyush Goyal will also be travelling to the U.S. at the end of September, during which he will likely hold a bilateral meeting with his U.S. counterpart to discuss trade issues, including the much-delayed interim trade agreement announced in February.
Former Air India CEO and MD Wilson described his tenure as a privilege and wished Air India well in its journey to becoming a world-class airline. The transition comes amid scrutiny over an alleged immigration lapse involving three foreign nationals who reportedly left Delhi airport without completing mandatory clearance, with the Ministry of Civil Aviation seeking an explanation from the airline.
UPI is no longer free for all, as conditions apply
NPCI today announced merchant discount rate on select UPI transactions, effective from October, while keeping UPI free for consumers. It said that MDR of 0.4% will be applicable on P2M UPI payments above 2,000, capped at 300 per transaction.
Indias 26% goods exports surge lowers August 2026 trade deficit
According to Commerce Secretary Rajesh Agrawal, this was the first time that merchandise export growth surpassed growth in imports in percentage as well as absolute value terms
The World Circular Economy Forum 2026 opened in Gandhinagar, emphasizing sustainable economic growth and circular solutions for global prosperity. World Circular Economy Forum 2026 Kicks Off in Gandhinagar, Focusing on Circular Solutions for Prosperity
UPI transactions above Rs 2,000 to attract 0.4% MDR; check key details
NPCI will introduce a Merchant Discount Rate on select P2M UPI transactions starting October 15. Merchants will pay 0.4% on transactions exceeding Rs 2,000, with a cap. This move aims to create a sustainable commercial model for the UPI ecosystem. Most everyday UPI payments up to Rs 2,000 will remain free of charges. Consumers will not face any new fees for making UPI payments.
Indian AI-native bio-solutions company Absolute begins commercial operations in Kenya
It has begun operations for INERA, which has partnered with an established Kenyan agricultural company with experience across floriculture, exotic herbs and horticulture to distribute and scale its products locally
Credit for the next 50 crore: How PhonePes new co-branded cards target Indias underserved
At GFF 2026, PhonePe unveiled a suite of co-branded credit cards with HDFC Bank and SBI, plus the Wishcard for consumers with limited or no credit history. The products build on UPI-era behaviour to tap into formal credit, aiming to bring rewards, flexibility and credit-history building to Gen Z, homemakers, freelancers and semi-urban India.
No smartphone, no internet? PhonePe brings UPI to 220 million feature-phone users
At the Global Fintech Fest 2026 in Mumbai, PhonePe announced UPI 123Pay support for its app on feature phones, taking the SMS-based, internet-free payments stack pre-loaded on HMD, Nokia, Lava and itel handsets to 200 million-plus Indians still on basic phones.
UPI transaction charges: Who will pay, who will earn and will small transactions stay free explained
UPI transactions up to 2,000 stay fee-free under a new Finance Ministry notification, covering 96% of volume. Regulators are weighing a ~0.4% charge on larger merchant (P2M) payments, with banks getting 40% of the proceeds. P2P transfers remain free regardless of transaction value.
Embassy Developments to invest Rs 2,000 cr in 85-acre Bengaluru project phase 1
Embassy Developments plans a Rs 2,000 crore investment for its North Bengaluru residential project. This development will feature two RERA-approved projects with a combined GDV of Rs 4,500 crore. The first project includes 217 villas across 1.1 million square feet of saleable area. The second project offers 855 apartments, ranging from studios to 3.5 bedrooms.
