“Speculation and claims that the MDR (merchant discount rate) will be charged on UPI transactions are completely false, baseless, and misleading,” the Finance Ministry declared on Wednesday.

“Our residents experience unnecessary doubt, dread, and mistrust as a result of such irrational and sensation-generating rumors. According to the Finance Ministry, the government is still totally committed to advancing digital payments through UPI.

Following multiple online rumors that the government intended to apply MDR on expensive UPI transactions, the formal refutation was released.

Banks charge merchants MDR in exchange for real-time payment processing. In the past, retailers who accepted card payments had to pay an MDR fee equal to 1% of the whole transaction value. However, in an effort to encourage digital payments nationwide, the government eliminated MDR fees in 2020.

According to figures issued by NPCI on Sunday, UPI handled 18.68 billion transactions in May and UPI transactions in May totaled Rs 25.14 lakh crore, up from Rs 23.95 lakh crore in April.

Compared to the 14.03 billion transactions that were reported in the same month last year, the May data likewise show a 33% increase in transaction volume year over year. In May, the average daily transaction volume was 602 million, and the average daily transaction amount was Rs 81,106 crore.

With its share of the overall transaction volume increasing from 79.7% in the previous fiscal year to 83.7% in 2024–2025, the Unified Payments Interface (UPI) solidified its position as the dominant player in India’s digital payments system.

According to the RBI’s annual report, UPI enabled 185.8 billion transactions in 2024–2025—a 41% increase from the previous year. UPI transactions increased from Rs 200 lakh crore in FY24 to Rs 261 lakh crore in value terms.

“The success of UPI placed India in a leadership position with a share of 48.5 per cent in global real-time payments by volume,” the Reserve Bank of India stated.

The total amount of digital payments made in the nation, including those made through card networks, payment systems, and prepaid payment instruments (PPIs), increased by 35% from 164.4 billion in FY24 to 221.9 billion in FY25. The total value of digital payments increased 17.97% to Rs 2,862 lakh crore.

Nirmala Sitharaman, the minister of finance, asked departments and regulators to speed up the process of returning unclaimed amounts in the financial sector, such as bank deposits, dividends, shares, post office accounts, insurance, and pension funds, to their rightful owners.

The Finance Minister stated during the 29th meeting of the Financial Stability and Development Council (FSDC) that in order to guarantee the prompt and smooth return of these assets to their legitimate owners, special district-level camps must be organized.

“Banks, pension agencies, insurance companies, the RBI, SEBI, the MCA, the PFRDA, and the IRDA, among others, will coordinate this push. The IEPFA is in charge of managing unclaimed shares and dividends, the IRDAI is in charge of unclaimed insurance and pension money, and the PFRDA is in charge of unclaimed bank deposits,” she stated.

In order to guarantee that citizens have a smooth experience with KYC procedures throughout the banking sector, the Finance Minister also urged the Council to adopt proactive measures.

She advocated for the establishment of uniform KYC standards, as well as the streamlining and digitization of the KYC procedure, including digital onboarding for NRIs, including PIOs and OCIs, in the Indian stocks market.

The FSDC discussed macrofinancial stability challenges and India’s readiness to address them. The FSDC examined enhancing the cyber resilience framework of the Indian financial sector through a cybersecurity strategy tailored to the financial sector in light of sectoral readiness, cybersecurity regulations, and the recommendations of the Financial Sector Assessment Programme (FSAP) 2024–25.

The meeting also covered issues related to developing a plan for carrying out the previous decisions and the budget announcements.

These included analyzing patterns in funding flows as part of a plan to raise the investment ratio and putting in place a suitable framework for regulators to assess and improve the responsiveness of regulations and subsidiary directions.

In addition, the FSDC discussed the new developments in the macro-financial environment both at home and abroad and emphasized the importance of being watchful. The Council acknowledged the necessity of taking proactive measures to reduce any threats to financial stability while implementing sufficient protections for the resilience of the financial system. For the financial sector’s overall growth, the participants agreed to improve inter-regulatory coordination.

The RBI Governor-chaired FSDC Sub-Committee’s activities and members’ actions regarding the FSDC’s outstanding previous judgments were also noted by the FSDC.

SEBI chief Tuhin Kant Pandey, RBI Governor Sanjay Malhotra, Minister of State for Finance Pankaj Choudhary, Finance Secretary and Secretary, Department of Economic Affairs Ajay Seth, Secretary, Department of Financial Services Nagaraju Maddirala, and other senior Finance Ministry and IRDAI officials attended the FSDC meeting.

According to a survey released on Wednesday, India is among the top 10 international cross-border investment destinations for land and development sites. Strong foundations, a maturing real estate market, and rising interest in land and development assets are all contributing factors to the nation’s rise as a major Asia Pacific investment destination.

According to the Colliers research, favorable legislative initiatives and ongoing infrastructure development are strengthening the investment climate and bolstering India’s appeal to both domestic and foreign investors.

India maintained its prominent position at number seven in the top ten global cross-border capital destinations for land and development sites, while Japan and Australia were in the top ten for standing assets.

In Q1 2025, institutional investments in Indian real estate totaled a robust $1.3 billion, up 31% year over year, demonstrating the industry’s tenacity and investor confidence. Due to a maturing market and a variety of capital deployment options, international and regional capital is still flowing steadily into India, especially in the form of land and development assets, according to Colliers India CEO Badal Yagnik.

Real estate investment in India will be further strengthened by rising interest in developing markets like data centers and life sciences as well as more engagement from international investors in the residential segment.

“Yet, there will still be attractive prospects in the commercial and industrial & warehousing sectors due to solid demand fundamentals, a strong supply pipeline, and growing channels like development platforms and alternative investment structures,” Yagnik continued.

Nearly 40% of all institutional inflows in Q1 2025 came from foreign investors, underscoring their long-standing interest in Indian real estate.

Residential investments are growing in popularity due to growing demand, high returns, and a favorable domestic outlook, even though office assets continue to be a top priority for international investors.

The market is maturing, and foreign money is increasingly matching India’s changing real estate market, as indicated by this diversification. The benchmark loan rate has dropped to 5.5%, the lowest level in three years, as a result of successive repo rate reduction, according to Vimal Nadar, National Director & Head of Research at Colliers India.

In the short to medium term, this is probably going to help increase capital deployment across real estate asset classes, especially the residential segment, and further improve investor sentiment, he added.

The National Highways Authority of India (NHAI) unveiled its first-ever “Asset Monetization Strategy for the Road Sector” on Monday in an effort to unlock the value of functioning National Highway assets.

The goal of the action is to increase public-private partnerships (PPPs) in the construction of infrastructure in India.

The plan marks a significant turn toward sustainable, market-driven infrastructure funding and is in line with the government’s goal under the Assets Monetization Plan-2025–30.

The Ministry of Road Transport and Highways claims that the plan offers a well-organized framework that offers a solid blueprint for capital mobilization through securitization models, infrastructure investment trusts (InvITs), and toll-operate-transfers (ToT).

Through the National Monetization Pipeline, these tools have assisted NHAI in raising about Rs 1.4 lakh crore for more than 6,100 kilometers of national highways.

Value naximization of government road assets, process transparency and information sharing pertinent to investors, and market growth through expanding the investor base and encouraging stakeholder participation are the three main pillars upon which the approach is built.

Also Read: 5 Best Cars Value for Money(VFM)

According to NHAI Chairman Santosh Kumar Yadav, “NHAI’s unique approach to asset monetization not only ensures financial sustainability but also opens opportunities for the private sector, leverages advanced technologies, and enhances the quality and longevity of our road assets.”

If this plan is implemented successfully, NHAI will have a consistent flow of funding, which will lessen our dependency on conventional funding sources, Yadav continued.

NHAI has been using a variety of monetization tools with success. The country’s National Highway framework was developed in part because of the NHAI’s asset monetization efforts, which are essential to releasing the value of the road network.

In order to maximize the advantages of asset monetization, this article presents a strategic framework. In order to provide transparency and build investor confidence, it highlights the necessity of a systematic approach to asset identification and valuation, according to N.R.V.V.M.K. Rajendra Kumar, Member Finance, NHAI.

Apple unveiled a stunning new software design on Monday that enhances the expressiveness and pleasure of apps and system interactions while making them instantly recognizable.

It is made of a novel substance known as liquid glass. In addition to reflecting and refracting its surroundings, this transparent material dynamically changes to assist emphasize content and add a new level of vibrancy to controls, navigation, app icons, widgets, and other elements.

To create even more unity while preserving the distinctive features that set each platform apart, the new design is now available on iOS 26, iPadOS 26, macOS Tahoe 26, watchOS 26, and tvOS 261 for the first time.

Alan Dye, Apple’s vice president of Human Interface Design, stated, “At Apple, we’ve always believed in the deep integration of hardware and software that makes interacting with technology intuitive, beautiful, and delightful.”

“In the end, it makes even the most basic of interactions more enjoyable and magical, and it lays the foundation for new experiences in the future,” Dye continued.

The new design leverages Apple’s significant advancements in hardware, silicon, and graphics capabilities, drawing inspiration from the depth and dimensionality of visionOS.

With the new and updated controls and Liquid Glass materials, developers can redesign their programs to make every user interaction even more pleasurable and intuitive.

Liquid Glass employs real-time rendering and uses specular highlights to dynamically respond to movement. According to the business, this makes using the iPhone, iPad, Mac, Apple Watch, and Apple TV even more enjoyable by creating a vivid experience.

“App navigation, toolbars, and controls have all been updated. Originally designed for rectangular screens, they now precisely align with the rounded edges of contemporary hardware and app windows, creating a more harmonious combination of content, software, and hardware, according to Apple.

The similar method has been used to redesign sidebars and tab bars. When Apple users scroll in iOS 26, the tab bars reduce to highlight the content while maintaining instant access to navigation. Tab bars extend fluidly when users scroll back up. Updated sidebars in iPadOS and macOS enhance the immersive experience of programs like Apple TV.

Following the Reserve Bank of India’s (RBI) recent move to lower the repo rate by 50 basis points, a number of large banks, notably Punjab National Bank (PNB), Bank of India, and UCO Bank, have drastically reduced their lending rates.

The rate reduction is a component of the RBI’s plan to boost economic expansion by lowering borrowing costs for both individuals and companies.

One of the first banks to pass the benefit on was Punjab National Bank, which reduced its repo-linked lending rate from 8.85% to 8.35%.

However, the bank maintained its marginal cost of lending rate (MCLR) and base rate at the same levels.

A similar cut was made by Bank of India, which lowered its repo-based lending rate from 8.85% to 8.35%, as per its stock exchange filing.

In contrast, UCO Bank reduced its MCLR by 10 basis points for all loan terms. The modifications, which take effect on June 10, will marginally lower the cost of a number of loan kinds, including personal and house loans.

The overnight, one-month, and three-month MCLRs were all lowered by the bank from 8.25 percent to 8.15 percent, 8.45 percent to 8.35 percent, and 8.6 percent to 8.5 percent, respectively.

The MCLRs for six months and a year were reduced to 8.8% and 9%, respectively.

Adding to the list of banks lowering borrowing costs, Bank of Baroda also announced a 50 basis point drop in its repo-linked lending rates for a few loan tenures.

These rate reductions follow the RBI’s announcement to lower the repo rate, a crucial policy rate at which the RBI loans to commercial banks, by the Monetary Policy Committee, which is chaired by Governor Sanjay Malhotra.

By making loans more affordable, the rate drop aims to stimulate the economy by promoting investment and expenditure.

Along with lowering the repo rate, the RBI also lowered the Cash Reserve Ratio (CRR) from 4% to 3%, a 100 basis point decrease.

It is anticipated that this cut, which will be implemented in four stages, will provide the banking system with an additional Rs 2.5 lakh crore in liquidity.

Reducing the CRR, which is the percentage of bank deposits that must be kept with the RBI, enables banks to extend more credit.

With the high-speed train’s flag-off on Friday, Prime Minister Narendra Modi completed the ambitious 272-kilometer Udhampur-Srinagar-Baramulla Railway Link (USBRL).

In the midst of winding tunnels built deep into the heart of the Shivaliks, the train gracefully winds through tiny gorges, deep valleys crowned with towering Himalayan peaks and beautiful green forests, while the River Chenab runs parallel to it.

The journey from Katra to Srinagar takes less than three hours thanks to the sleek, contemporary train, which operates six days a week.

Rarely in a country’s history does a leader’s deed have an impact that goes well beyond the physical gesture; it addresses enemies directly, boosts national morale, and determines the future. One such instance was when Prime Minister Narendra Modi crossed the Chenab Bridge, the tallest railway bridge in the world, while holding the tricolor in his right hand.

It was a daring declaration, silent but decisive, symbolic yet calculated. The Prime Minister’s momentous step was more than simply an example of Indian engineering prowess; it was a daring message to those who have long attempted to use terror and covert aggression to destabilize India.

Pakistan and its terrorist network have been fighting a ceaseless proxy war in Jammu and Kashmir and other parts of India for more than thirty years. They have sought to maintain unrest in India and Jammu & Kashmir through radicalization and cross-border infiltration. And in response to the terror assault in Pahalgam, India launched Operation Sindoor, demonstrating both diplomatic and military strength.

India’s developmental successes persisted during this operation. A strong message was sent to Pakistan, its friends, and the rest of the world by the walk on the Chenab Bridge.

In addition to demonstrating a change in India’s strategy from deterrence to direct action, PM Modi demonstrated territorial sovereignty by walking that bridge with the flag raised.

PM Modi’s crossing of the Chenab Bridge had psychological as well as physical effects. It symbolized an India that is moving forward with determination, dignity, and self-assurance rather than looking back. The act of holding the flag represented possession of the land, the future, and the story.

When it counts, leaders are frequently remembered for their actions as much as their words. PM Modi’s stroll over the Chenab Bridge was historic and symbolic, with the tricolor flapping in the Himalayan winds.

The USBRL project, an engineering marvel that comprises tunnels, bridges, and winter-proof equipment built to withstand Kashmir’s harsh climate, was completed concurrently with the launch. Even in the event of winter, the train’s sophisticated features guarantee year-round operation.

Railway authorities say that Vande Bharat trains 26401/02 and 26403/04 will provide excellent passenger comfort and state-of-the-art technology on this route.

The winner of the second season of the reality show Hip Hop India 2 has been announced. The winner was a contestant named Shubhankar, better known by his stage name, Hectik.

Bollywood actors Sara Ali Khan and Adtiya Roy Kapur graced the season finale, with Remo D’Souza and Malaika Arora serving as the judges. They were there to advertise “Metro…In Dino,” their next movie.

Hitesh, Rule Breakerz, Aman-Kunal, and Lil Pool were among the finalists, and each performed in a unique way. In an absolutely electrifying moment, Shubhankar took over the stage and hoisted the winner’s belt. In order to promote the genre and demonstrate the boundless scope of his talent, he intends to experiment with other mediums, such as reality shows, performing in movies, plays, and web series.

“My journey at Hip Hop India S2 has been incredible and something that I’ll never forget,” Shubhankar remarked in response to his victory. I will always cherish having Remo sir and Malaika ma’am by my side as I navigated this journey. I learned to walk purposefully and communicate nonverbally under KRUMP. I am appreciative of everyone who recognized that in me. It is now time to take KRUMP to new heights.

“You couldn’t ignore the fire in Shubhankar from the very beginning,” Judge Malaika Arora continued. Every performance was a moment because of his presence, style, and dedication to KRUMP. He made you feel enchanted and told stories in addition to performing. It has been incredibly motivating to see him develop into the artist he is now, and I think this is just the beginning for him.

The concert has been a great way for Aditya Roy Kapur to see how far Indian hip-hop has come.

“Watching a true champion, full of passion, and being a part of the finale was a great experience,” he said.

“The energy at the Realme Hip Hop India Season 2 finale tonight was incredible,” Sara Ali Khan said. Each performer gave it their all on stage. Their ability to express themselves so boldly and courageously, as well as their lack of fear, inspire me.

Amazon MX Player and Shubhankar deserve congratulations for yet another fantastic season of the show.