NEW DELHI, India — The Centre has clarified that users will continue to make UPI payments free of charge, addressing concerns that recent changes proposed under the Payment and Settlement Systems Act could lead to charges on everyday digital transactions. The government said all Person-to-Person (P2P) UPI payments would remain free, while the vast majority of merchant transactions would also continue without charges.
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NIFTY50 Outlook: Key Market Triggers Next Week
NEW DELHI, India — Indian equity markets enter the coming week with several domestic and global triggers in focus, including India’s July retail inflation data, Q1 corporate earnings, U.S. inflation figures, Foreign Institutional Investor (FII) activity and developments in U.S.-Iran peace negotiations. The NIFTY50 ended the previous week at 24,570 after gaining around 0.7%, while the SENSEX rose approximately 0.5% to 78,499.
Old Monk, McDowell’s Manufacturers Challenge FSSAI Order in Bombay High Court
MUMBAI, India — The manufacturers of Old Monk and McDowell’s No. 1 Celebration Matured Rum have approached the Bombay High Court after the Food Safety and Standards Authority of India (FSSAI) prohibited the manufacture and sale of fresh stocks of the two rum brands. The companies are challenging the validity of the prohibition orders before the court.
US Senate Advances Major Crypto Bill Before August Recess
WASHINGTON, United States — The U.S. Senate has taken a key procedural step toward advancing the Clarity Act, a landmark cryptocurrency bill that could establish the industry’s first comprehensive federal regulatory framework. Senate Majority Leader John Thune moved on Saturday to set up a procedural vote when lawmakers return from their August recess in mid-September, potentially bringing the legislation closer to a full Senate vote.
Weekly Market Wrap: Sensex Gains 405 Points, Nifty 50 Rises 0.8%
NEW DELHI, India — Indian equity markets ended the week on a positive note on August 7, extending their gains for a second straight week. The Nifty 50 advanced 187.05 points, or 0.8%, while the BSE Sensex gained 404.53 points, or 0.5%, with PSU banks, metals and select auto stocks leading the broader market higher.
Trump Signals Iran Deal, But Markets Rise Despite No Breakthrough
WASHINGTON, United States — Financial markets rallied this week after US officials and President Donald Trump repeatedly suggested that an agreement with Iran to reopen the Strait of Hormuz could be imminent, even though no deal materialised and Tehran continued to deny that it was negotiating directly with Washington.