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UPI users said they will stop using the application if transaction fees are levied on the same, said a survey of 34,000 respondents by Local Circles, a pollster on governance and public issues. UPI recorded a transaction value of over ₹16 lakh crore in February 2024, up from over ₹12 lakh crore in February last year, according to data from the National Payments Corporation of India (NPCI). The most common example of a transaction fee is the ₹20 fee by IRCTC for UPI payments. Fintech companies urged finance minister Nirmala Sitharaman to raise issues about implementing a merchant discount rate (MDR) in UPI transactions. «The MDR on UPI payments has been a long standing demand from the fintech industry, asserting they don't generate revenue from such transactions. MDR is the rate charged to a merchant for payment processing services on various payment instruments», said the report.

Congress ahead of Rahul Gandhi's Nyay Yatra's entry into Gujarat, former Gujarat Pradesh Congress Committee (GPCC) President and sitting MLA from Porbandar, Arjun Modvadia resigned from the party as well as his legislative position on Monday. Apart from him, former Rajula MLA and one of the strongest Ahir leader of Congress Ambarish Der too resigned from Congress. Modvadia and Der are expected to join BJP on Tuesday. As a matter of fact, speaker of Gujarat Assembly Shankar Chaudhary had to fly down to Gandhinagar from Tharad in Banaskantha leaving a programme mid-way to accept Modvadia's resignation. Congress responded with surprise while in the afternoon, incumbent GPCC President Shaktisinh Gohil told the media that Modvadia was active in organising Nyay Yatra in Dahod until Sunday evening, other senior leaders refused to accept possibility of Modvadia resigning until he actually put in his papers. Rahul Gandhi's yatra is scheduled to enter Gujarat on Thursday.

Banks' bad loans have fallen to record lows as recoveries from defaulters rise and many who missed payments have regularised, but lenders are looking at building buffers anticipating some stress, said CareEdge Ratings. Bad loans fell 21% in the last calendar to Rs 4.85 lakh crore, from a year earlier.

SpiceJet on Monday said Abu Dhabi's sovereign wealth fund ADIA has acquired shares of the airline from the open market. However, the carrier did not disclose specific details. A source close to the airline said Abu Dhabi Investment Authority (ADIA) started buying shares in late February.

Baring Private Equity subscribed to nearly 35% of the Rs 70-crore anchor book of stabilisers manufacturer Platinum Industries. According to the stock exchange disclosure, the company allotted 14,62,035 shares to Baring Private Equity India AIF II at Rs. 171 per share. The investment philosophy of the Baring Group is rooted in partnership with their clients, aiming to deliver customised private equity and real assets solutions. As of December 31, 2023, Barings Group manages assets under management (AUM) totalling $ 6.05 billion.

Taiwan Foreign ministry on Monday said that the Taiwan will welcome any Indian worker who meets conditions for recruitment and satisfies industry demand, regardless of their ethnic background. Following the signing of an MOU on labour force cooperation between the two countries on February 16, the ministry stated that the qualified workers will be treated fairly. «Taiwan will welcome any Indian worker who meets conditions for recruitment and satisfies industry demand, regardless of their ethnic background. Qualified workers will be treated fairly and accorded due protection under Taiwanese law,» the statement said.

Sanchar Saathi portal, which was unveiled in May last year. While launching the platform, Union Minister for Communications Ashwini Vaishnaw said, the government has been persistently making efforts to check cyber-frauds under the Secure India project.

Mark Zuckerberg's fashion statement at a pre-wedding event in India has gone viral after Bill Gates complimented his outfit on social media. Zuckerberg attended the event, held in celebration of the upcoming wedding of Anant Ambani and Radhika Merchant, wearing a hand-embroidered «Sunderbans Tigress» shirt designed by Indian fashion designer Rahul Mishra.

Apeejay Surrendra Park Hotels on Monday reported a 46% year-on-year (YoY) growth in consolidated net profit for the quarter ended December 2023 to Rs 27.42 crore. Consolidated revenue from operations increased by nearly 14% YoY to Rs 159 crore.

Delhi High Court has barred Natco Pharma from manufacturing and selling cancer drug Olaparib either under the brand name ‘BRACANAT’ or under other brand names till further orders. “…the defendant (Natco) is in fact exploiting the suit patent by manufacturing and selling Olaparib. It is also admitted that this exploitation has take place in the 19th year of the life of the suit patent.

Reserve Bank of India has given approval to the National Payment Corporation of India (NPCI) Bharat BillPay Ltd to implement an interoperable payment system for internet banking transactions, governor Shaktikanta Das said on Monday. “We expect the launch of this interoperable payment system for internet banking during the current calendar year. The new system will facilitate quicker settlement of funds for merchants,” Das said during a digital payments awareness event organised by the RBI. Internet banking, one of the oldest channels for online merchant payment transactions, is a favoured channel for payments like income tax, insurance premiums, mutual fund payments and e-commerce, but the current system faces certain challenges, Das said.

unemployment rate declined to 3.1% in 2023 from 3.6% in the previous year, corresponding with the country recording stellar growth during the year. A significant reason for the decline in the unemployment rate was the decline in urban unemployment. Urban unemployment declined to 5.2% in 2023 compared with 5.9% in the previous year. Rural unemployment was down 40 bps to 2.4% from 2.8% earlier. Global rating agency Moody’s, Monday, raised India’s growth estimate for 2023 by a percentage point to 7.7% from 6.7% projected earlier. Growth is expected to ease to 6.8% in 2024 and 6.4% in 2025, it noted. India recorded over 8% growth during the April-December period.

Nasdaq's record-closing highs in the prior session, as investors paused at the start of a week packed with key jobs data and Fed Chair Jerome Powell's congressional testimony. The Dow Jones Industrial Average fell 118.61 points, or 0.30%, at the open to 38,968.77. The S&P 500 opened lower by 6.09 points, or 0.12%, at 5,130.99, while the Nasdaq Composite dropped 10.73 points, or 0.07%, to 16,264.21 at the opening bell.

Union Agriculture Minister Arjun Munda on Monday said the government has launched a mission to boost production of oilseeds and reduce imports of cooking oils. The minister virtually inaugurated administrative-cum-academic building, Manas Guest House, Subansiri Girls Hostel and Brahmaputra Boys Hostel at IARI, Dirpai Chapori, Gogamukh, Assam. Union Minister of State for Agriculture Kailash Choudhary was present at the inaugural event and visited an exhibition stall at the Indian Agricultural Research Institute (IARI), Assam. According to an official statement, Munda said Prime Minister Narendra Modi has special emphasis on the development of the Northeastern region.

auto manufacturers seeking quarterly incentive payouts and inclusion of more components under the production-linked incentive scheme, according to an official on Monday. «This year, the incentive (under Auto PLI) will be given annually but a committee has been formed in the ministry that will look into the requests of OEMs (Original Equipment Manufacturers). »One of the requests is that certain (Advanced Automotive Technology) AAT components be included. We have only 103 components," Additional Secretary in the Ministry of Heavy Industries Hanif Qureshi said. In January, Union Heavy Industries Minister Mahendra Nath Pandey told PTI that the government constituted a committee to examine the auto industry's demand for including more components in the PLI scheme for automobile and auto components.

Also Read: Mukka Proteins IPO last bidding day today: Issue booked 136.12 times so far led by NIIs, retail investors; Check GMP Investor response to Mukka Proteins IPO remained overwhelmingly positive even on the second day. Mukka Proteins IPO subscription status was 6.97 times, as per data available on BSE.

Congress rebels and independent MLAs who voted in favour of the BJP candidate Harsh Mahajan in Rajya Sabha elections, the BJP State President Rajiv Bindal on Monday said that the Congress is taking dictatorial decisions. Raiding the houses and business outlets of MLAs, taking various types of actions against them and people associated with them, sending people to instigate fights and creating an atmosphere of fear in the entire state is unacceptable and will not be tolerated, he said in a statement issued here.

Signature Global is expected to reach Rs 10,000 crore pre-sale in 2024-25, as it has planned three launches spread across 8-10 million sq ft. The company has already exceeded the guidance of Rs 4,500 crore this financial year as it generated Rs 3600 crore from its latest premium housing residential development project on Dwarka Expressway. “We had reported Rs 3,124 crore pre-sale in the quarter ending December 2023. With this sale, we are confident of reaching Rs 7,000 crore in FY 23-24 and then expecting 25-30% jump in FY 24-25, taking the number to Rs 9500-10,000 crore,” said Pradeep Kumar Aggarwal, chairman and wholetime director of the company.

TMC leader Mahua Moitra to restrain BJP MP Nishikant Dubey and advocate Jai Anant Dehadrai from making defamatory allegations. The former MP had taken legal action against Dubey and Dehadrai, alleging defamation, when they claimed that Moitra engaged in questionable practices by posing questions in parliament and sharing her parliamentary account login details with Hiranandani, purportedly in exchange for favors and lavish gifts. The Lok Sabha Ethics Committee, reacting to these accusations, recommended Moitra's expulsion from the lower house, in December. This recommendation was subsequently implemented, leading to Moitra's removal from parliament on December 8, 2023.

Singapore is set to raise the salary criteria for foreign executives and professionals that companies can hire starting next year, the government announced on Monday. Starting in January of next year, foreigners seeking employment passes, typically reserved for well-paid professionals, will need to earn at least S$5,600 ($4,170) per month, an increase from the current requirement of S$5,000. Those in the financial sector will have the qualifying salary hiked to S$6,200 from S$5,500.

Mumbai man has been arrested on charges of sexually assaulting his minor daughter after the matter came to light during a counselling session with the police. The incident unfolded in Mumbai, where the victim, a 17-year-old girl, resides with her parents. The father approached the police seeking assistance, expressing concern over his daughter's excessive use of social media and her rebellious behavior towards her parents. The father told Poilce that his daughter was glued to social media and her phone all the time and said she no longer listens to her parents and yells back at them. He requested the police to counsel her. Subsequently, the girl and her mother came to the police station. Hoping for guidance, he requested the police to counsel her. Responding promptly, a woman police officer took charge of the counselling session, enlightening the young girl on the potential risks associated with excessive social media and internet usage. The officer also encouraged her to voice any issues she might be facing. It was during this session that the girl bravely disclosed a traumatic incident—she revealed that she had been molested and sexually assaulted by her own father over several days last year.