MUMBAI: The rollout of merchant discount rate (MDR) on select UPI transactions is expected to be postponed to Jan 2027 against the earlier date of Oct 15 with an announcement expected over the next couple of days.The move follows representations from trade bodies which were apprehensive that the introduction of the fees may impact festival…

NEW DELHI: After IndiGo, Air India, Air India Express and Akasa have also hiked fuel surcharge due to spiralling price of aviation turbine fuel (ATF/jet fuel) and falling rupee, which is acting as a double whammy at a time when air traffic is also beginning to decline as higher fares are seeing price-sensitive domestic travellers…

India joins US, 13 economies in joint statement to address global excess capacity after G20 meeting NEW DELHI: India has joined US and a dozen other economies, including Canada, EU, Japan, South Korea, Mexico, France, Germany and UK, on structural excess capacity in five categories – autos and EVs, batteries, chemicals, foundational semiconductors and solar…

MUMBAI: HDFC Bank’s incoming MD and CEO Anup Bagchi will get target annual compensation of Rs 35.9 crore, with a Rs 7.3-crore one-time equity grant taking potential pay to Rs 43.2 crore. He takes charge Oct 27 after Sashidhar Jagdishan’s exit.RBI approved Bagchi’s appointment Oct 1 for a three-year term. His Rs 9-crore fixed pay…

MUMBAI: With Brent crude prices spiking again to over $105 per barrel, US Treasury bond yields rising to a more than two-decade high and the rupee at close to 96.8/$, strong foreign fund selling pulled the markets sharply down on Thursday. Reliance Industries, HDFC Bank and Bharti Airtel led the slide as sensex lost 1,045…

FM Nirmala Sitharaman chairs the 57th meeting of GST Council. Rate changes will now be an annual feature, says Sitharaman NEW DELHI: Finance minister Nirmala Sitharaman on Thursday announced a faceless system for 2 lakh central GST payers operating in multiple states, following up on rate rationalisation and process reforms undertaken by the Centre and…

A view of the 57th Goods and Services Tax (GST) Council Meeting, chaired by Union Finance Minister Nirmala Sitharaman, in New Delhi on Thursday NEW DELHI: Nine years after the biggest indirect reform in the country, GST Council on Friday decided on a massive procedural overhaul that will rework the way businesses operate, enable them…

Elon Musk brings Ambani into the Starlink India delay NEW DELHI: The terrestrial war over providing satellite communication (satcom) services heated up several notches Thursday, with Elon Musk asking on X, “Is Ambani the real boss of India”, hours after govt denied his charge that “certain oligarchs” were blocking Starlink’s entry to India.In his first…