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INDIA BALANCE OF PAYMENTS
UPI MDR may attract 18% GST; eligible merchants can claim input tax creditEffective October 15, UPI payments to merchants (P2M) above Rs 2,000 will attract a 0.4% merchant discount rate with an overall cap of Rs 3...- ETtech Explainer: Who pays MDR on UPI and who does notStarting on October 15, banks and payment applications will begin earning revenue from select merchant UPI transactions. Transactions under...
- Return of MDR a key step towards making UPI sustainable and enabling further growth: ExpertsEffective October 15, UPI payments to merchants (P2M) above Rs 2,000 will attract a 0.4% merchant discount rate with an overall cap of Rs 3...
- Paytm, MobiKwik, Pine Labs shares rally up to 6% after govt announces UPI fees above Rs 2,000. Why brokerages are bullishPaytm, MobiKwik and Pine Labs are likely to remain in focus after the government announced MDR on select UPI transactions above Rs 2,000. F...
- NPCI unveils UPI MDR; Meta's new child safety measuresThe NPCI has finalised the long-awaited MDR framework for UPI transactions, paving the way for changes to the payments ecosystem. This and ...
- Indian diaspora deposits boost capital account to $33.5 billion surplus in July, RBI data showsOverseas deposits from the Indian diaspora significantly boosted the country's capital account surplus. This inflow helped offset the overa...
- No smartphone, no internet? PhonePe brings UPI to 220 million feature-phone usersAt the Global Fintech Fest 2026 in Mumbai, PhonePe announced UPI 123Pay support for its app on feature phones, taking the SMS-based, intern...
- India’s current account deficit more than doubles to $7 billion in July as trade gap expandsIndia's current account deficit grew to seven billion dollars in July. This widening gap occurred as merchandise imports outpaced exports s...
- Stage being set for levying UPI transaction fee: Cong slams govtCongress criticizes the government's UPI transaction notification. The party claims this move sets a stage for future user fees. This notif...
- India, Russia explore digital currency payments for trade in cross-border breakthroughIndia and Russia are exploring digital currency payments for bilateral trade, potentially opening a faster route for cross-border settlemen...
- India has shown ‘quite a lot of resilience’ to oil price shock, says IMF as it welcomes stronger statistical frameworkAcknowledging India's strength in weathering increased energy prices, the International Monetary Fund has praised the country's economic st...
- India's BRICS play may have a payment plan with no hard cashIndia is unlikely to back a common BRICS currency at the September 12-13 summit, instead favouring links between national payment systems a...
- 'Fintechs must treat data as fiduciary duty, not business asset,' says RBI Governor Sanjay MalhotraReserve Bank of India governor Sanjay Malhotra stressed data fiduciary responsibility for fintechs. He stated that user data must be treate...
- NRO account for NRIs: Which funds can be deposited, tax on interest and repatriation rulesFor NRIs, establishing or converting an existing bank account is vital upon confirming non-residence status. An NRO account facilitates the...
- India needs stronger export push as energy imports drive trade deficits with BRICS nations: BRICS CCI ChairmanIndia must increase exports to BRICS nations to counter trade deficits from energy imports. Greater focus is needed on export promotion and...
- RBI uses currency swaps to cut $115 billion cash surplusIndia's central bank is draining excess cash from banks using currency swaps. This action follows record high funds in the financial system...
- Indians can use crypto to buy groceries, fuel and gold through overseas gift-card platformsIndians can use cryptocurrencies to buy goods and services domestically through overseas fintech platforms that convert stablecoins and oth...
- $127 billion deposits raise new rupee risk as banks face future FX interest billsWith over $127 billion raised in overseas FX deposits since June, Indian banks are now confronting a risky situation regarding unhedged fut...
- India's balance of payments likely to post $60-65 bn surplus in FY27 despite wider CAD: HDFC BankIndia’s balance of payments (BoP) is likely to post a $60-65 billion surplus in FY27, despite a widening current account deficit, HDFC Bank...
- India bonds pare gains as oil spike tames FCNR boostEarly Thursday trading saw Indian government bonds lose their initial gains as stronger dollar inflows were overshadowed by soaring oil pri...
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