EP MONEY

India’s Finance Minister Nirmala Sitharaman has publicly identified China’s trade barriers as the biggest hurdle in India-China bilateral relations, pointing to a 100 billion dollar annual trade deficit that she describes as unsustainable. The statement marks a shift toward direct public criticism of Chinese trade practices that have long frustrated Indian policymakers and businesses. Sitharaman’s […]

Canada-based Fairfax Financial Holdings will acquire a 60.72% stake in IDBI Bank for Rs 52,878 crore, or roughly $5.47 billion. The Cabinet Committee on Economic Affairs approved the deal on Wednesday. It will be the largest single foreign direct investment inflow into India to date. Fairfax, led by India-origin billionaire Prem Watsa, will pick up

Finance Minister Nirmala Sitharaman said on Tuesday that the government would be keen to hear views on the removal of long-term capital gains tax during pre-Budget consultations. She stopped short of committing to any changes, saying the timing was not right to indicate what she would or would not consider with the Budget around the

The rollout of charges on select UPI merchant transactions has been pushed back until after Diwali. The National Payments Corporation of India confirmed on Tuesday that the Merchant Discount Rate on select person-to-merchant UPI transactions above Rs 2,000 will now be implemented immediately after the festival, with the exact date to be announced separately. The

As the festive season picks up, new data highlights how stretched Indian household budgets already are. According to figures shared by Expert Panel, a debt and loan resolution platform, around 60% of borrowers have EMIs that either exceed or nearly equal their total monthly family income. Even more concerning, 40% are taking fresh loans or

India’s exporters are caught in a GST system gap that is costing them real money. When they sell goods internationally using government export schemes, they pay a tax called IGST through an official portal called ICEGATE. But the current GST rules do not give them credit for this tax they’ve already paid, creating a double

Apple’s latest iPhones have become more expensive. Now the company is cutting component orders for its flagship models as demand falls short of expectations. A Nikkei Asia report says Apple has asked some suppliers to reduce production of components for the iPhone 18 Pro and iPhone 18 Pro Max. Orders for October have been cut

The start of merchant discount rates (MDR) on UPI may be pushed from October 15 to January 1, 2027. Business Standard reported this, citing sources. A final decision is expected in the coming days. The delay would keep UPI free for merchants during the festive season, which runs until Christmas. It comes amid opposition from

The Reserve Bank of India’s Monetary Policy Committee (MPC) raised the repo rate by 25 basis points to 5.50% on Wednesday. This is the first hike since February 2023. The MPC pointed to rising inflation pressures and a challenging global economic environment. The vote was unanimous after a three-day meeting on October 5-7. The MPC

Airlines flying to West Asia are facing sharply higher fuel costs, threatening to make some routes unprofitable and potentially leading to flight cancellations or higher ticket prices. The price of Aviation Turbine Fuel (ATF), which powers commercial aircraft, has surged in recent weeks as geopolitical tensions in the Middle East create supply uncertainty in global