Daily Newscap

The Supreme Court has declined to temporarily stop the Centre’s proposed Merchant Discount Rate on certain UPI merchant payments exceeding ₹2,000. This does not mean that every UPI user will suddenly be charged for transferring money. The case concerns a proposed MDR of 0.4% on specified person-to-merchant transactions. MDR is a payment-processing charge associated with the infrastructure used to complete a transaction. It is generally paid within the merchant-payment system rather than being automatically deducted from every customer. A three-judge Supreme Court bench led by Chief Justice Surya Kant sought responses from the Union government, the Reserve Bank of India and the National Payments Corporation of India. The Court declined to grant an interim stay but has not delivered a final judgment on the legal challenge. The Centre told the Court that the framework had not yet taken effect and was expected to begin on October 15. According to the government’s submission, approximately ...

American and Iranian officials held separate discussions with mediators on September 28 as diplomatic efforts resumed to end the seven-month US–Israeli war with Iran. The talks did not constitute a confirmed direct meeting between the United States and Iran. Officials from the two sides spoke separately with intermediaries, maintaining an indirect diplomatic channel while disagreements over the terms of a ceasefire continued. According to an official briefed on the process, future discussions were expected to focus on an amended version of a seven-day proposal Iran presented during the United Nations General Assembly. Iranian Foreign Minister Abbas Araqchi said Tehran expected a US response to its ceasefire proposals and conditions for restoring maritime traffic through the Strait of Hormuz. The strait is one of the world’s most important energy routes. Restrictions or threats to shipping can raise oil prices because traders fear that supplies from the Gulf may be delayed or interrupte...

Russian drone attacks across Ukraine killed at least nine people and injured more than 80 on September 28, according to Ukrainian President Volodymyr Zelenskiy. The assault included a strike on the National Academy of Sciences in central Kyiv. Emergency services said two people were killed at the academy building, with one victim recovered from beneath the rubble. Kyiv Mayor Vitali Klitschko reported that 24 people were injured in attacks on the capital, including six who required hospital treatment. The reported national casualty total and the Kyiv-specific figures refer to different geographic areas and should not be combined. Casualty numbers may also be revised as emergency teams inspect damaged buildings and reach additional locations. The attack attracted particular attention because it struck a prominent scientific institution in the centre of the Ukrainian capital. Damage to research or educational facilities can have consequences beyond the immediate casualties, disrupting sci...

The Indian rupee weakened to 95.9825 against the US dollar on September 28, closing near the ₹96 level as high oil prices and geopolitical uncertainty affected Asian currencies and financial markets. Brent crude rose sharply during the session and was reported at about $108.20 per barrel at one stage. The increase followed uncertainty surrounding efforts to end the US–Iran conflict and restore normal shipping through the Strait of Hormuz. India is particularly sensitive to an oil-price shock because it imports nearly 90% of its crude-oil requirements. When oil becomes more expensive, Indian importers require additional dollars to pay suppliers. This raises demand for foreign currency and can weaken the rupee. A weaker rupee makes imported crude still more expensive in domestic-currency terms, creating a difficult cycle. Higher energy costs can affect transport, aviation, manufacturing, fertiliser production and the prices of goods moved by road. Reuters reported that dollar sales by st...

India’s Commerce and Industry Minister Piyush Goyal is visiting the United States from September 29 to October 5, 2026, as the two countries attempt to advance negotiations on a proposed bilateral trade agreement. During the visit, Goyal is expected to meet US officials and attend the G20 trade ministers’ meeting in Wisconsin at the invitation of US Trade Representative Jamieson Greer. India’s Commerce Ministry said the discussions would focus on developing a balanced and mutually beneficial agreement and completing an interim trade arrangement based on the joint statement issued on February 7. The visit is significant because India and the United States have spent months negotiating without reaching a final consensus. Both governments want to expand trade, but they must resolve disagreements involving tariffs, market access and the protection of sensitive domestic industries. For India, agriculture and dairy remain politically and economically sensitive. Millions of small farmers depe...

Here are ten important, verified updates from the world, India and Tamil Nadu. Every source link below opens the specific supporting article in a new tab. World: British police arrested five men near RAF Fairford on suspicion of explosives and terrorism offences. Source: The Guardian World: Oil prices rose more than 1% after the United States rejected an Iranian proposal aimed at resolving the conflict and reopening the Strait of Hormuz. Source: CNA World: Thailand’s Constitutional Court prepared to rule on a challenge to the legality of the country’s February general election. Source: CNA India: Two Naga civilians were killed and two others injured in a gun attack in Manipur’s Senapati district. Source: The Indian Express India: Lovely Professional University suspended classes for ten days and postponed examinations following violent protests over an alleged sexual assault. Source: The Indian Express India: India and Canada moved to deepen trade and diplomatic engagement ...

A proposed nationwide bank strike scheduled for September 28–30 has been deferred following late-night talks between the United Forum of Bank Unions and the Indian Banks’ Association. The decision was announced on September 27 after representatives of the two organisations met on Sunday night. This means customers should not face the three consecutive days of widespread branch disruption that had previously been expected. The United Forum of Bank Unions, commonly known as UFBU, represents nine unions of bank employees and officers. It had called the strike to press several workplace demands, with the implementation of a five-day banking week among the most prominent. Bank unions have sought the designation of all Saturdays as holidays. At present, branches generally close on the second and fourth Saturdays of each month while remaining open on other Saturdays. The proposed strike created concern because September 26 was already a scheduled Saturday holiday and September 27 was a Su...