Credit Card Spending Growth Slows in August as UPI Continues to Dominate Digital Payments

Growth in India's credit card spending remained subdued in August, with the industry facing intensifying competition from UPI and increasing pressure on profitability, even as the number of credit cards in circulation continued to rise.

According…

Rupee could stabilise, strengthen from current levels: RBI Deputy Governor Poonam Gupta

The Indian rupee has significant room to stabilise and potentially strengthen from its current levels, Reserve Bank of India (RBI) Deputy Governor Poonam Gupta said, pointing to improving external-sector fundamentals and the central bank’s ability…

India, OPEC pledge deeper energy cooperation amid global market uncertainty

India and the Organisation of the Petroleum Exporting Countries (OPEC) have agreed to deepen cooperation on energy security, oil market stability and investment, as the two sides held a high-level meeting in New Delhi on Tuesday.

The meeting…

India’s economy could nearly triple in a decade, JPMorgan CEO Jamie Dimon says

JPMorgan Chase CEO Jamie Dimon has said India’s economy could nearly triple in size over the next decade, as the US financial giant plans to significantly expand its research coverage and operations in the country.

Dimon said JPMorgan…

SIM misuse can lead to 3 years in jail, Rs 50 lakh fine: DoT

The Department of Telecommunications (DoT) has warned against the misuse of SIM cards and telecom identifiers, saying violations under the Telecommunications Act, 2023 can attract imprisonment of up to three years and a fine of up to Rs 50 lakh.

Nifty’s 23,000-23,100 zone critical support, Sensex may face resistance at 74,600: Analysts

Indian equity benchmarks ended the truncated trading week on a subdued note, with investors closely watching key technical levels amid concerns over elevated crude oil prices and rising global bond yields.  

Market experts believe the…

Govt rejects claims that UPI MDR was introduced under external pressure

The government on Thursday rejected allegations that the introduction of Merchant Discount Rate (MDR) on select UPI transactions was driven by external pressure, calling the claim “patently false and misleading”.

The Finance Ministry’s…

UPI MDR Could Create Revenue Pool of Up to Rs 20,000 Crore for Banks, Payment Firms

The introduction of a Merchant Discount Rate (MDR) on select UPI transactions could generate an annual revenue pool of up to Rs 20,000 crore for banks and digital payment companies, according to estimates from several major global brokerages.

Sensex Plunges 778 Points, Nifty Sheds 280 as Oil Prices Trigger Broad Market Sell-Off

Indian benchmark equity indices ended sharply lower on Tuesday, with selling pressure intensifying towards the close as rising oil prices weighed on investor sentiment and triggered a broad-based risk-off move.

The Sensex fell 777.94 points,…

India’s Wholesale Inflation Rises to 9.92% in August as Fuel and Power Prices Surge

India’s wholesale price index (WPI)-based inflation rose marginally to 9.92 per cent in August from 9.78 per cent in July, according to data released by the Commerce Ministry on Monday.

The rise was largely driven by a sharp increase…