Business
Former RBI Governor C. Rangarajan says UPI has helped reduce currency use, but gaps in the system must be addressed.
Former RBI Governor C. Rangarajan described the Unified Payments Interface as a major effort to reduce the use of currency in transactions in Chennai, Tamil Nadu.
He said the mechanism needs further improvement and that existing gaps in the system must be addressed.
According to a calculation cited by Rangarajan, 65 million of the country's 100 million merchants have already adopted UPI.
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Business
Indian equities opened sharply higher on Monday after an eight-week decline. The Sensex rose 625 points to 72,534, while the Nifty reached 22,595. Bajaj Finance, Nykaa, TD Power and other large-, mid- and small-cap stocks recorded strong early gains during the market's recovery.
Business
Department of Economic Affairs Secretary Anuradha Thakur said public capital expenditure has increased from 2 lakh crores in 14-15 to a budget of about Rs 12 lakh crores this year. Including grants to states, effective capital expenditure stands at Rs 17.15 lakh crores, while investment incentives target private-sector participation.
Business
The GST Council is expected to examine a proposal on October 7, 2026, that could let employers claim input tax credit on GST paid for insurance premiums covering employees. The proposal, if considered, would address the tax treatment of employer-provided insurance coverage.
Business
The GST Council is likely to consider process reforms on Wednesday aimed at making tax compliance easier for businesses. The proposals could help small e-commerce sellers use platform warehouses for GST registration, protect genuine buyers' input tax credit and reduce litigation involving low-value disputes, according to sources.
AI
Meta has appealed Ofcom’s decision to place WhatsApp and Instagram in Category one under the UK’s Online Safety Act. The company is challenging how the regulator interpreted the law, rather than the legislation itself. Category one carries the strongest transparency, fraudulent-ad and user-control duties.
Railway
Northern Railway has announced additional festival special train services alongside previously declared trains. The timetable covers routes linking New Delhi, Patna, Anand Vihar Terminal, Bhagalpur, Sultanpur, Lokmanya Tilak Terminus, Kolkata, Amritsar, Bareilly, Muzaffarpur and other destinations, with services scheduled between October and November 2026.
Business
Gold and silver prices declined during the first trading session of the week. October gold futures were down 0.40%, while December silver futures fell 0.33%. Compared with Friday’s closing levels, gold slipped as much as ₹709 per 10 grams and silver declined by up to ₹1,235 per kilogram during Monday’s session.
India
The central government has introduced a uniform 25-day interval for booking a second domestic LPG refill across rural and urban areas. The earlier 45-day restriction in rural regions has been removed after the government said LPG supply had improved and the backlog was nearly cleared.
AI
China and the United States have completed their first artificial intelligence dialogue, led by Vice-Premier He Lifeng and Treasury Secretary Scott Bessent. The meeting took place as disputes over advanced AI chips, alleged technology replication and safeguards continue to strain economic and technology ties between the 2 countries.
AI
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Auto
Honda Cars India dispatched 5,385 vehicles in August, up 40% from the same month last year. The Honda Amaze led the performance with 3,512 units, doubling its annual sales and remaining the company’s best-selling model, while the Elevate recorded a decline.
Business
RBI’s revised fixed deposit guidelines will require banks to follow uniform rates for matching deposits made on the same day, while publishing applicable rates online. The changes take effect from 1 October 2026 and also set disclosure requirements for bulk deposits of ₹3 crore or more.
India
The India Meteorological Department has forecast heavy to very heavy rain in several regions on 11 September as a low-pressure area forms over the north-west Bay of Bengal and nearby areas. Strong winds, thunderstorms and lightning are also possible, while Delhi-NCR may see light rain and cloudy skies.
India
Rabindranath Tagore advised that the first two stanzas of Vande Mataram could serve as a national song without offending any community. His view became part of the Congress Working Committee’s 1937 decision to limit public singing to those stanzas, a position now central to a renewed political dispute.
