Headlines

‘No burden for consumers’: Sitharaman clarifies who will pay MDR on UPI transactions

Finance minister Nirmala Sitharaman Union finance minister Nirmala Sitharaman has backed the recently announced Merchant Discount Rate (MDR), saying that the mechanism will be imposed on operators and will not be passed on to customers. Addressing ongoing speculations around the charges, FM blamed the opposition for creating confusion and urged people to remain alert.Speaking to…

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New Zealand trade pact to take effect on Oct 20, to give duty-free access

India-New Zealand trade deal to come into force on Dussehra (representative image) NEW DELHI: The India-New Zealand free trade agreement (FTA) will come into force on Oct 20 (Dusshera), providing duty-free access to 100% of India’s exports, commerce and industry minister Piyush Goyal announced Monday. And, talks with Canada for a comprehensive economic partnership agreement…

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MS expands India capacity for cloud and AI services

NEW DELHI: Microsoft’s new India South Central cloud region in Hyderabad is among its largest infrastructure investments in Asia, the company’s India and South Asia president Puneet Chandok said, as it expands capacity for cloud and AI services.The facility is part of Microsoft’s $20.5 billion investment commitment across Asia. Chandok did not disclose how much…

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Starbucks to set up GCC in Chennai

Starbucks plans Chennai GCC with 800 new jobs CHENNAI: US-based coffee chain Starbucks will set up a global capability centre (GCC) in Chennai. It will likely create 800 high-value jobs in the first phase.The new centre will add to Chennai’s growing GCC ecosystem, with companies using the city to build technology, business and other global…

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GST rate rejig helps consumers upgrade

NEW DELHI/MUMBAI: A year after GST rates were cut, automobile dispatches have continued to climb. Several two-wheeler users moved to four-wheelers as price cuts improved affordability, TV buyers have shifted towards larger sets and consumer goods volumes picked up in the Oct-Dec quarter, although they are now under pressure due to the West Asia crisis.Passenger…

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Govt winds up telecom commission

NEW DELHI: Govt has with immediate effect dissolved its apex decision-making body for telecom and digital communication – digital communications commission (DCC), which was originally established as telecom commission in 1989, before being renamed in 2018. The communication ministry’s department of telecommunication (DoT) notified this decision through a Sept 19, 2026 resolution that was published…

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