Business News
No jargons, no mumbo-jumbo. Read the unadulterated Business news here.
RBI's Murmu says digital payment fees won't slow India's growth
RBI Deputy Governor S. C. Murmu dismissed concerns over Merchant Discount Rate impacts and emphasized board accountability in AI deployment at a recent conclave.
IDTA announces ₹2,170cr investment in 56 deep-tech firms in India
The Indian Deep Tech Alliance invested ₹2,170 crore in 56 deep-tech firms over the past year, with significant funding directed towards energy, AI, and quantum technology sectors.
India's August crude oil imports over 11% lower at 19.01mt
India's crude oil imports in August dropped over 11% from July, reaching 19.01 million metric tons, marking a significant month-on-month decrease according to government data.
Power Grid Corporation of India committee approves ₹5,000 cr bonds
Power Grid Corporation of India plans to raise ₹5,000 crore through a private bond placement with a 10-year tenure and annual redemptions starting after four years.
Tata Sons reappoints N Chandrasekaran for 5 years, approves listing
A boardroom battle unfolds as Tata Sons' decision to pursue a public listing faces opposition from major stakeholders, highlighting differing visions for the conglomerate's future.
Tata Group loses ₹46,600 cr after Tata Sons board standoff
Tata Group companies, including TCS, Tata Chemicals, and Tata Motors PV, collectively lost ₹46,600 crore in market value due to governance turmoil and investor uncertainty.
CWC teams with TuTr for 1st Mumbai hyperloop freight trial
The Central Warehousing Corporation (CWC) is set to conduct its first hyperloop freight trial in Mumbai, aiming to revolutionize logistics with high-throughput container movement.
Tata Electronics, L&T Semiconductor Technologies to build chips in India
Tata Electronics and L&T Semiconductor Technologies have announced a strategic partnership to enhance India's semiconductor chip production for global markets.
Indian markets close mixed as 6-week losses persist amid IPOs
Indian equities closed flat on Friday as easing crude oil prices supported the Nifty, while Tata Group stocks dragged down the Sensex amid ongoing market uncertainties.
Rupee ends week at 95.8750 as RBI steps in
The rupee fell 0.3% week-on-week amid global rate hike expectations, while RBI intervention is expected to stabilize it around the 96 per dollar mark.
Warren Buffett named chairman emeritus of Berkshire Hathaway
Warren Buffett, the legendary investor and Chairman of Berkshire Hathaway, has stepped down from his position.
Reappointment of N Chandrasekaran sparks Tata Trusts dissent amid investments
The Tata Group faces internal governance challenges as it embarks on significant investment ventures, with critical decisions looming over capital allocation and investor exits.
Warren Buffett steps down after 60 years at Berkshire Hathaway
Warren Buffett has stepped down as Berkshire Hathaway's executive chairman, passing the role to his son, Howard Buffett. Read his farewell letter to shareholders.
Sensex plunges nearly 1,000 points then closes at 74,295
Sensex experienced a dramatic 1,000-point plunge during the closing auction session, ultimately closing in the red, while Nifty managed to end above 23,300.
TRAI's new rules will improve spam detection in India
The Telecom Regulatory Authority of India (TRAI) has updated its regulations to tackle unsolicited commercial communications (UCC).
India's net direct tax collection up 13% to ₹12.1L crore
India's net direct tax collections have increased by a whopping 12.96% year-on-year, reaching ₹12.12 lakh crore as of September 17, for the financial year 2026-27.
Warren Buffett, 96, leaves Berkshire Hathaway chairmanship for Howard Buffett
Warren Buffett, 96, steps down as chairman of Berkshire Hathaway, becoming chairman emeritus while remaining on the board. His son Howard succeeds him as chairman.
MuscleBlaze maker is planning ₹2,800-3,800cr IPO in India
HealthKart, a leading brand in fitness supplements, is mulling an initial public offering (IPO) to raise between $300 million and $400 million (₹2,800-3,800 crore), as per Mint.
Mantic raises $25 million seed and outperforms forecasters at Metaculus Cup
Mantic, an AI developer excelling in event forecasting, raised $25 million in seed funding led by Radical Ventures, with participation from Microsoft's M12 and others.
Rediff.com IPO coincides with new 0.4% MDR from October 15
Rediff.com's upcoming IPO could benefit from the government's new MDR policy, which introduces a 0.4% fee on high-value UPI transactions.
FCC approves foreign investment in Paramount Warner merger with restrictions
The US Federal Communications Commission (FCC) has approved a request from Paramount and Skydance to allow foreign investors to participate in their $110 billion acquisition of Warner Bros. Discovery.
N Chandrasekaran reappointed for 5 years despite Noel Tata's opposition
The reappointment of N Chandrasekaran as executive chairman has intensified tensions between Tata Sons and Tata Trusts, potentially leading to a prolonged legal battle.
Mazagon Dock invests ₹15,000cr in Dugarajapatnam shipyard, about 45,000 jobs
Mazagon Dock Shipbuilders Ltd plans to invest Rs 15,000 crore in a greenfield shipyard at Dugarajapatnam, Andhra Pradesh, creating approximately 45,000 jobs.
Infosys SVP Vikram Meghal urges chip invention at SEMICON India
India is experiencing a unique surge in semiconductor demand, with Infosys SVP Vikram Meghal emphasizing the need to transition from "Engineered in India" to "Invent in India."
Walgreens to open 1st Global Capability Center in Chennai
Walgreens India Private Ltd signed an MoU to establish its first Global Capability Centre in Chennai, creating over 250 technology and operational jobs in the first year.
India ends merchant UPI 0-fee above ₹2,000, redirects 5% MDR
The government plans to end the current incentive scheme for BHIM-UPI and RuPay transactions, redirecting funds to support small merchants through a new MDR-based initiative.
National Stock Exchange IPO fully subscribed in 2 days
The ₹22,569 crore NSE IPO was fully subscribed by the second day, driven by strong demand from institutional and non-institutional investors.
Jindal Supreme 117.69x leads SS Retail 44.79x, Hero Motors 5.68x
Jindal Supreme India's IPO saw overwhelming demand, subscribed 117.69 times, as SS Retail and Hero Motors also closed their strong subscription phases today.
Christine Lagarde confirms she will leave ECB in October 2027
Christine Lagarde has confirmed she will step down as European Central Bank President in 2027. Her tenure has been marked by efforts to address inflation and economic stability.
European markets hold near highs as STOXX 600 falls 0.2%
European shares dipped on Friday, led by a 1.8% drop in telecommunications stocks, while gains in technology shares helped limit overall losses.
India's direct tax collections nearly 13% to ₹12.12L/cr mid-September 2026
India's net direct tax collections increased by 12.96% to Rs 12.12 lakh crore as of September 17, FY27, driven by a significant rise in advance tax payments.
India lands 26th on 2026 JLL Real Estate Transparency Index
India ranks 26th globally in the 2026 JLL Global Real Estate Transparency Index, marking significant improvements in regulatory frameworks and global capital participation.
Chinese AI firms lag far behind OpenAI in revenue
China's leading artificial intelligence (AI) firms generate only about 10% of the revenue reported by OpenAI alone, a new analysis from Rhodium Group has revealed.
ET Product of the Year 2026 highlights India fintech infrastructure
The ET Product of the Year Awards 2026 celebrates innovative fintech infrastructure that enhances accessibility and efficiency in India's digital financial ecosystem.
CEA V Anantha Nageswaran warns AI displacing entry level jobs
Chief Economic Adviser V Anantha Nageswaran warns that AI automation threatens entry-level jobs crucial for developing future management skills.
RBI swaps aid rupee steady at 95.73-95.76 per US dollar
The rupee strengthened to around 95.73 per US dollar, breaking a seven-session losing streak, as oil prices declined for the third consecutive day.
Rentomojo shares close at ₹532.95, up 31.91% on day 2
Rentomojo shares soared 44% above their IPO price of ₹404, despite a slight dip in the second trading session, reflecting strong investor interest.
Shapoorji Group chairperson backs listing of Tata Sons
Shapoorji Pallonji Group Chairman, Shapoor Mistry, has welcomed the Reserve Bank of India's (RBI) listing decision on Tata Sons.
India's GDP to grow 7% in FY27, says Moody's
Credit ratings agency Moody's has revised India's real Gross Domestic Product (GDP) growth forecast for the current fiscal year from 6% to a more optimistic 7%.
IDFC FIRST Bank waives forex markup on its credit cards
In a major customer-friendly move, IDFC FIRST Bank has announced the removal of forex markup charges on all its existing and new credit cards.
Disney appoints Adam Smith as chief of streaming business
The Walt Disney Company has appointed insider Adam Smith as the chairman of its streaming business.
Infosys's Vikram Meghal urges India to invent chips for AI
India has a unique opportunity to transition from "engineered in India" to "invent in India" in semiconductors, driven by AI and system-level scaling.
Kunal Shah: about 90% of CRED code written by AI
CRED founder Kunal Shah reveals that artificial intelligence now writes 90% of the company's code, underscoring the rapid integration of AI in software development workflows.
India's PFRDA proposes LLPs, cooperatives offer National Pension System digitally
The PFRDA's proposal aims to broaden the distribution network for the National Pension System, enhancing accessibility through both physical and digital channels.
NXP Semiconductors eyes India OSAT partnerships, says Lars Reger
Dutch chipmaker NXP Semiconductors is assessing India's OSAT capabilities for potential local packaging, while expanding its R&D footprint and innovation efforts in the country.
AMD India's 11,000+ engineers design EPYC and PC chips
AMD's 11,000 engineers in India are crucial to developing advanced CPU designs and chiplets, focusing on efficiency and performance for future EPYC server and PC products.
Vikram Misri outlines India's semiconductor strategy to build indigenous capabilities
India aims to develop sovereign strengths in semiconductor design and manufacturing while partnering globally, Foreign Secretary Vikram Misri stated at SEMICON 2026.
OpenAI hires former SpaceX executive as global sales chief
OpenAI has announced the appointment of Brian McCarthy as its Vice President of Global Sales.
China's REIT market hits $33B as $13B flood raises doubts
China's publicly listed REIT market, valued at $33 billion, faces challenges as oversupply and weak demand threaten its role in funding infrastructure projects.
Ankush Wadhera: India draws global-chip investment, Modi on supply-chain leverage
India is emerging as a key player in global semiconductor supply chains, with BCG's Ankush Wadhera noting increased interest from international businesses amid geopolitical shifts.
UnearthIQ: India opens 111 greenfield GCCs, up to 75,000 jobs
India has rapidly established 111 greenfield global capability centres in just eight months of 2026, with Hyderabad leading the way, according to a report by UnearthIQ.
Shapoorji Mistry seeks Tata Sons listing to monetize SP stake
Shapoorji Mistry, chairperson of the Shapoorji Pallonji Group, urges Tata Trusts to support the public listing of Tata Sons to unlock value and strengthen ties.
Chinese stocks rise ahead of Trump and Xi trade talks
China's stock markets climbed 1% as investors anticipated progress in the upcoming Trump-Xi trade talks, with technology and semiconductor stocks leading the gains.
All India Consumer Products Distributors Federation opposes MDR on UPI
The All India Consumer Products Distributors Federation opposes MDR on UPI transactions, urging the government to maintain zero-MDR for merchants to protect small businesses.
Maharaja & Speedex India IPO shares rise 34% raising ₹80.13cr
Shares of Maharaja & Speedex India surged to a 5% upper circuit limit on Friday, following a 34% gain from their listing debut price on the BSE SME platform.
LightSpeed Photonics to open photonics-packaging pilot line in India
LightSpeed Photonics aims to establish a photonics-packaging pilot line in India, targeting 50% local production by 2028, according to CEO Rohin Y.
Shapoor Mistry backs RBI order tightening Tata Sons's financial rules
Shapoor Mistry endorses the Reserve Bank of India's directive for Tata Sons to comply with non-bank financial company regulations, viewing it as a step towards transparency.
Technisanct's FalconFeeds signs MoU with UAE Cybersecurity Council in Dubai
FalconFeeds, a platform by Kerala-based Technisanct, has signed an MoU with the UAE Cybersecurity Council to enhance ICT and cybersecurity collaboration between the regions.
Glass Wall Systems IPO jumps 67.3% after 57x oversubscription
Glass Wall Systems shares have soared over 65% since their IPO, driven by strong investor enthusiasm and a remarkable 57 times subscription to the initial offering.
Bank of Japan raises main interest rate to 1.25%
The Bank of Japan increased its policy interest rate to 1.25%, the highest since 1995, responding to inflation pressures and a weakening yen impacting import costs.
Nabfid approves ₹3,000cr-plus loans to at least 4 data centers
Nabfid has approved loans exceeding Rs 3,000 crore each for four data centres, highlighting India's increasing investment in AI infrastructure and digital economy expansion.
Tata Trusts asks Tata Sons for alternatives after RBI denial
Tata Trusts has recommended that the Tata Sons board consider alternatives to a public listing, following the RBI's rejection of their application to surrender CIC registration.
India imports exceed exports for 5th straight month in August
India continued to be a net importer of finished steel for the fifth consecutive month in August, with imports rising 8% year-on-year despite a 31.3% increase in exports.
US pauses proposed China tariffs until Trump and Xi summit
The US is reportedly postponing new tariffs on trading partners' excess manufacturing capacity until after the upcoming summit between Presidents Xi Jinping and Donald Trump.
India's wealth management market set to reach $436B by 2034
India's wealth-management market is projected to grow 2.5 times to $436 billion by 2034, driven by rising incomes and increased financialisation of household savings.
Chandigarh launches government-backed 'Bharat Taxi' app on September 18
The Chandigarh administration will officially introduce the government-backed Bharat Taxi service, offering an alternative to suspended private cab aggregators like Ola and Uber.
India's Nabfid approves loans for data centers to boost AI
India's state-run infrastructure financier, Nabfid, has sanctioned loans exceeding $1.2 billion to data centers, reflecting growing investment in AI infrastructure development.
Yen slips amid 83% Bank of Japan rate hike odds
The yen dipped against the dollar and euro as investors anticipate a potential interest rate hike by the Bank of Japan amid recent inflation data.
Gold rises modestly on cheaper oil and weaker dollar
Gold prices edged up by 0.3% as lower oil costs and a weaker dollar provided support, while traders monitored Middle East developments and global monetary policy trends.
Japan's core inflation 1.7% nears Bank of Japan 2% target
Japan's core inflation rose 1.7% in August, maintaining pressure near the Bank of Japan's 2% target as the central bank considers a potential rate hike.
ET HR Excellence Awards 2027 spotlights HR transformation of year
The ET HR Excellence Awards 2027 honor organizations revolutionizing HR practices, focusing on completed transformations that enhance agility and align with business objectives.
FTC order could give Amazon Prime US members $200 refunds
Amazon Prime customers meeting specific criteria may qualify for up to $200 under a revised FTC settlement, expanding eligibility and automating refund processes.
Disney names Smith chairman of global streaming and advertising technology
Disney has appointed insider Adam Smith as chairman of its streaming business, focusing on Disney+ and Hulu to enhance global strategy and development.
You can use Apple Pay in India from October
Apple is all set to launch its payment service, Apple Pay, in India next month.
Why Japan has raised key interest rate to 31-year high
Japan's central bank, the Bank of Japan (BOJ), has raised its key interest rate to a 31-year high.
Ammann says Gujarat plant in India can expand for exports
Ammann Group Holdings AG is transforming its Gujarat facility into a global manufacturing hub, aiming to expand exports beyond India, including potentially entering the US market.
Indian markets hold steady after US Federal Reserve rate hike
Indian stock markets ended slightly higher on Thursday, with the Nifty rising 0.2%, as investors absorbed the anticipated US Federal Reserve rate hike.
US stocks rebound Thursday as Dow rises 300 points
US equities rebounded as tech stocks surged, crude oil prices fell due to eased supply concerns, and bond yields cooled following the Fed's rate hike.
Mazama Energy raises $135 million for 10-gigawatt Oregon geothermal
Mazama Energy secured $135 million in a Series B round to advance its geothermal technology, aiming to harness super-hot rock for high-efficiency electricity generation.
Crusoe raises $3.9B at $30.9B valuation to fund OpenAI project
Crusoe has raised $3.9 billion in a Series F round to expand its data center projects, including large sites and modular "AI factories" for rapid deployment.
Micron Technology, Infineon and Tata Electronics accelerate India's semiconductor production
Micron, Tata Electronics, and Infineon have announced plans to expand semiconductor production in India, highlighting significant growth in manufacturing and workforce development.
Amogh Kaloti orders Sir Ratan Tata Trust board meeting pause
Amogh Kaloti, Maharashtra's charity commissioner, is pivotal in the high-profile Tata corporate battle, overseeing crucial trust-related legal proceedings.
So Delicious Dairy Free recalls Salted Caramel pints for stones
So Delicious Dairy Free has recalled its Salted Caramel Cluster Non-Dairy Frozen Dessert pints due to potential contamination with small stones and other foreign materials.
India plans rules to ensure digital gold backed by bullion
The government is considering requiring digital gold to be backed by physical bullion and placing it under the joint oversight of the Reserve Bank of India and Sebi.
Palantir CEO Alex Karp says OpenAI and Anthropic seek nationalization
Palantir CEO Alex Karp argues that the AI apocalypse narrative is a strategy by companies like Anthropic and OpenAI to seek government liability protection.
IndiGo hikes infant fee, baggage and priority service charges
IndiGo has announced a revision in its fare structure, affecting several services.
Barclays staff revolt against return-to-office mandate
Barclays is facing a major backlash over its return-to-office policy, with thousands of employees demanding compensation for travel expenses and an exemption for those living more than 40 minutes away.
Diwali orders from GCC countries push India's food exports higher
India's food exporters are witnessing a major surge in overseas orders, particularly ahead of the Diwali festival.
Insurance premiums won't get costlier despite new UPI fees
The National Payments Corporation of India (NPCI) has announced a 0.4% merchant discount rate (MDR) on select high-value person-to-merchant UPI transactions, with a cap of ₹300 per transaction.
TCS launches custom chip design services
Tata Consultancy Services (TCS) has launched its Custom System-on-Chip (SoC) Design Services.
Tata Sons board approves public listing proposal
Tata Sons' board has approved a proposal for the company's public listing.
Tim Cook, Sam Altman to attend Trump-Xi Jinping state dinner
Tim Cook, the Executive Chairman of Apple Inc. and Sam Altman, the CEO of OpenAI, will attend a state dinner hosted by US President Donald Trump for Chinese President Xi Jinping next week, according to Bloomberg.
How Fed's rate hike could trigger foreign investor exodus
The US Federal Reserve has raised its benchmark interest rate by 25 basis points, marking the first hike since 2023.
Applied Materials to invest $5B in India by 2035
US-based semiconductor equipment maker Applied Materials has announced plans to invest $5 billion in India by 2035.
Saudi Aramco has halted crude supplies to India, report says
Saudi Aramco has halted the supply of crude oil to Indian refiners until further notice, The Economic Times reported.
Tata Sons reappoints N Chandrasekaran as chairman for 5 years
Tata Sons, the holding company for Tata Group, has reappointed N Chandrasekaran as its executive chairman for another five-year term.
Applied Materials to invest $5B in India over next decade
US-based chip equipment giant Applied Materials has announced a massive $5 billion investment in India over the next decade.
Sweden's EQT Group to invest $50B in India by 2030
Swedish private equity firm EQT Group has announced plans to invest $50 billion in India by 2030.
Judge asks Musk's companies to reveal Apple settlement agreements
A federal judge has asked Elon Musk's companies, X Corp and SpaceXAI, to explain their decision to drop antitrust claims against Apple.
Musk's long-time backer transfers $8.5B SpaceX stake to investors
Valor Equity Partners, a venture capital firm founded by Antonio Gracias, a long-time Elon Musk backer and current board member at SpaceX, has decided to distribute a portion of its SpaceX stock among its limited partner investors.
AI start-up Manus seeks $4B valuation after Meta split
Chinese-founded artificial intelligence (AI) start-up Manus is looking to double its valuation to $4 billion.
NSE IPO opens as GMP plunges 43%: Apply or avoid?
The National Stock Exchange of India (NSE) has launched its long-awaited initial public offering (IPO) today.
US House passes bill allowing 100% tariffs on India
The US House of Representatives has passed a bill allowing President Donald Trump to impose tariffs of up to 100% on countries buying Russian oil and gas.
US raises interest rate for first time in 3 years
The US Federal Reserve has raised its key interest rate by 25 basis points, the first hike in over three years.
Centre reduces windfall tax on petrol, diesel, ATF exports
The Indian government has reduced the windfall tax on petrol exports from ₹1.5 to ₹0.5 per liter for the next fortnight, starting September 16.
Cab aggregators can't demand tips before booking rides in India
The Indian government has ordered cab aggregators to stop the practice of advance tipping before booking a ride.
Home prices in NCR up 193% in a decade
The National Capital Region (NCR) has witnessed a staggering 193% increase in home prices over the past decade, according to a new report by industry body ASSOCHAM and Knight Frank Research.
How EU plans to cut trade deficit with China
European Commission President Ursula von der Leyen has vowed to use all possible means to tackle the "unsustainable" trade deficit with China.
Nobel laureate Michael Kremer becomes World Bank's chief economist
The World Bank has appointed Nobel laureate Michael Kremer as its new chief economist.
How did restricted Pakistan-made 'Goree,' 'Chandni' creams enter Indian market
The Central Drugs Standard Control Organisation (CDSCO) has issued a public health warning against two Pakistani cosmetic products, Goree Beauty Cream and Chandni Whitening Cream.
RBI may raise repo rate by 50bps this year: JPMorgan
JPMorgan has predicted that the Reserve Bank of India (RBI) could raise interest rates by a total of 50 basis points (bps) by December.
Indians earning up to ₹25,000/month can now get PF benefits
The Union Cabinet has approved a significant hike in the wage ceiling for Employees' Provident Fund Organisation (EPFO) subscribers.
Flipkart's Big Billion Days sale starts October 9: Check deals
Flipkart has announced the dates for its highly-anticipated Big Billion Days sale 2026.
India-Canada trade deal negotiations might be done by 2026-end
India and Canada are in the final stages of negotiating a Comprehensive Economic Partnership Agreement (CEPA), with hopes to conclude it by the end of this year.
NSE IPO: Selling shareholders eye ₹16,500cr profit
The selling shareholders of the National Stock Exchange (NSE) are poised to make huge profits from its much-anticipated initial public offering (IPO).
Why Tata stocks fell up to 7% today
Tata Group stocks witnessed a major fall today, with losses of as much as 7%.
TikTok founder becomes Asia's richest, overtaking Gautam Adani
Zhang Yiming, the founder of ByteDance, has surpassed Indian billionaire Gautam Adani to become Asia's richest person.
Nithin Kamath says UPI MDR could raise costs for brokers
Zerodha co-founder Nithin Kamath has raised concerns over the proposed Merchant Discount Rate (MDR) on Unified Payments Interface (UPI) transactions.
OpenAI seeks fresh funding at $1.2T valuation
OpenAI, the artificial intelligence (AI) company behind ChatGPT, is in early-stage talks for a new funding round.
New Zealand ratifies landmark free trade deal with India
New Zealand's parliament has approved a landmark free trade agreement with India.
ATM-related shares up by 5% today: What's the reason?
Shares of cash management companies Radiant Cash Management and CMS Info Systems surged up to 5.4% and 5%, respectively, today.
Just 17% merchants willing to bear 0.4% UPI charges: Survey
A survey conducted by LocalCircles has revealed that only 17% of merchants are willing to bear a Merchant Discount Rate (MDR) of 0.4% on Unified Payments Interface (UPI) transactions over ₹2,000.
Jindal Supreme IPO fully subscribed in 30 minutes
The Initial Public Offering (IPO) of Jindal Supreme has been fully subscribed within just 30 minutes of its opening on the first day.
Paytm, MobiKwik rally as UPI fees open new revenue stream
Shares of One97 Communications (Paytm's parent company), CMS Info Systems, One Mobikwik, Yes Bank, and others have surged in trade today.
US advances bill that could hit India with 100% tariffs
The United States House of Representatives has advanced a Russia sanctions bill that could impose tariffs as high as 100% on Indian goods.
UPI MDR: Who gets what from new merchant fees?
The National Payments Corporation of India (NPCI) has released a circular detailing the distribution of the new merchant discount rate (MDR) for Unified Payments Interface (UPI) transactions.
India-New Zealand FTA might come into effect from October 19
The India-New Zealand Free Trade Agreement (FTA), signed on April 27, is expected to come into effect from October 19, as per PTI.
CBI probe against former NSE chief Chitra Ramakrishna to continue
The Supreme Court of India has refused to interfere with the Delhi High Court's decision, which held that the National Stock Exchange serves a public purpose and its officers perform public duties.
UPI payments above ₹2,000 to attract fees starting October 15
The National Payments Corporation of India (NPCI) has announced that a merchant discount rate (MDR) will be applicable on select person-to-merchant (P2M) unified payments interface (UPI) transactions from October 15.