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No plan to impose MDR on UPI transactions, confirms Finance Ministry

The Finance Ministry has dismissed speculation about imposing a Merchant Discount Rate on UPI transactions, calling such claims false and misleading.

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In a clear statement issued on Wednesday, the Ministry of Finance dismissed recent reports claiming that the government was planning to levy a Merchant Discount Rate (MDR) on large-value Unified Payments Interface (UPI) transactions. The ministry termed such claims “false, baseless, and misleading”.

No fee on UPI transactions, says Centre

The official clarification was made in response to several online reports suggesting a potential move to introduce MDR charges on higher-ticket UPI transactions. The Finance Ministry warned that such speculation only leads to “needless uncertainty, fear, and suspicion among citizens,” adding that the government remains fully committed to promoting the use of UPI for digital payments.

MDR is a fee that banks charge merchants to process payment transactions in real-time. Traditionally applicable on card payments, it used to be about 1% of the transaction value. However, in 2020, the government scrapped MDR fees on UPI and RuPay transactions to promote the digital ecosystem.

UPI records significant growth in May

Backing its success, UPI continues to dominate India’s digital payments landscape. In May 2025, UPI handled 18.68 billion transactions valued at ₹25.14 lakh crore — an increase from ₹23.95 lakh crore in April, according to the National Payments Corporation of India (NPCI).

This marks a 33% year-on-year jump from the 14.03 billion transactions recorded in May 2024. The average daily transaction amount during May was ₹81,106 crore, with the daily transaction volume hitting 602 million.

UPI’s contribution to India’s digital economy

The RBI’s annual report highlighted that UPI facilitated 185.8 billion transactions in FY 2024-25, reflecting a 41% rise over the previous year. In value terms, the total reached ₹261 lakh crore, up from ₹200 lakh crore.

UPI now accounts for 83.7% of India’s total digital transaction volume, up from 79.7% in FY24. The RBI also emphasized India’s global leadership in real-time payments, with UPI contributing to 48.5% of global real-time payment transactions.

Across all platforms — including card networks and prepaid instruments — total digital payments in India surged by 35% to 221.9 billion transactions in FY25. In terms of value, this marked an 18% rise to ₹2,862 lakh crore.

India News

PM Modi says India managed Hormuz crisis with minimal impact on citizens through energy diversification

Prime Minister Narendra Modi said India successfully navigated the Hormuz crisis by expanding energy imports, reducing the burden of rising fuel prices on citizens and strengthening the country’s refining capacity while inaugurating Rajasthan’s first integrated refinery.

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Prime Minister Narendra Modi on Saturday said India successfully managed one of the world’s most challenging energy crises by expanding its energy sourcing, strengthening diplomatic partnerships and shielding citizens from the impact of rising global fuel prices.

Addressing a public gathering after inaugurating the country’s first greenfield integrated refinery-cum-petrochemical complex in Pachpadra, Rajasthan’s Balotra district, the Prime Minister said India adopted proactive measures during the recent Middle East crisis that helped maintain energy security despite global uncertainties.

According to PM Modi, India significantly diversified its energy imports as tensions disrupted global fuel markets.

“When the crisis began, India was importing energy from around 25 to 26 countries. During the crisis, we expanded imports to more than 40 countries,” he said, crediting India’s diplomatic outreach for ensuring uninterrupted supplies.

The Prime Minister also highlighted the financial measures taken by the government to cushion consumers from soaring international crude oil prices. He said public sector oil companies absorbed losses exceeding Rs. 75,000 crore between April and June while the Centre reduced excise duty on petrol and diesel by Rs. 10 per litre to prevent a steep rise in fuel prices for consumers.

PM Modi added that despite attempts by some groups to spread rumours and create panic during the crisis, the government’s efforts ensured stability.

He said those who expected India to struggle during the crisis had been proven wrong as the country successfully overcame the challenge.

India strengthening refining capacity

Speaking about India’s energy infrastructure, the Prime Minister said the country has become the world’s fourth-largest refining hub and continues to expand its refining capabilities to meet future energy demand.

He also said the government’s long-term planning helped India deal with disruptions in fuel and fertiliser supplies triggered by the conflict involving Iran and the US-Israel alliance.

Pachpadra refinery inaugurated in Rajasthan

During the visit, PM Modi inaugurated India’s first greenfield integrated refinery-cum-petrochemical complex at Pachpadra, marking Rajasthan’s first refinery project. He launched the facility by remotely activating the project after inspecting the refinery complex.

The Prime Minister also laid the foundation stone for several development projects in the state.

Highlighting the government’s approach towards infrastructure development, PM Modi said the BJP governments focus not only on announcing projects but also on ensuring their timely completion.

He also remarked that work on the Pachpadra refinery had remained largely stalled during the Congress government’s tenure in Rajasthan between 2018 and 2023 before gaining momentum again.

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Aamir Khan set to wed Gauri Spratt on July 5

Actor Aamir Khan is reportedly preparing to marry longtime partner Gauri Spratt in a private ceremony on July 5. While the couple has not officially confirmed the wedding, reports suggest the celebration will be a low-key affair attended by close family and friends.

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Actor Aamir Khan is readying to finally marry his longtime partner, Gauri Spratt, in a private ceremony on July 5. Unlike other high-profile Bollywood weddings, the couple is expected to celebrate the occasion with close family members and a handful of friends, choosing a simple gathering over a lavish event. 

The reported wedding has attracted widespread attention from fans and the film industry, with many taking to social media to congratulate the couple. While neither Aamir nor Gauri has shared extensive details about the ceremony, reports suggest the celebrations will remain intimate and focused on family.

The actor was first married to Reena Dutta, and they have two children together. In 2005, Aamir married filmmaker Kiran Rao. The couple announced their separation in 2021 but have continued to maintain a friendly relationship and jointly raise their son while working together on select projects.

Gauri Spratt has largely stayed away from the limelight. Despite growing public interest in their relationship, she has preferred to keep her personal life private. Reports indicate that Gauri and Aamir have known each other for several years before deciding to take the next step in their relationship.

Known for balancing a successful film career with a private personal life, Aamir Khan has often avoided discussing family matters in public. His reported decision to opt for a low-key wedding is in line with his long-standing preference for privacy. 

As news of the upcoming ceremony continues  to make headlines, fans are eagerly waiting for an official glimpse of the celebrations. Whether through a family photograph or a public statement, many hope to see the couple share the joyful occasion with their well-wishers.

With this wedding, Aamir Khan appears ready to embrace a new phase in his life while continuing to focus on both his personal happiness and his significant contribution to Indian cinema.  

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Vaibhav Sooryavanshi becomes India’s youngest international debutant, surpasses Sachin Tendulkar

Teenage batting sensation Vaibhav Sooryavanshi has become India’s youngest-ever international cricketer after making his debut in the second T20I against England at the age of 15 years and 99 days. The milestone sees him surpass Sachin Tendulkar and Shafali Verma in the Indian record books.

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Indian cricket witnessed the beginning of a new era as teenage batting sensation Vaibhav Sooryavanshi made his senior international debut, becoming the youngest player ever to represent India in men’s or women’s cricket.

The left-handed batter received his maiden India cap ahead of the second T20I against England in Manchester. At 15 years and 99 days, Sooryavanshi broke a long-standing national record previously held by cricket legend Sachin Tendulkar, who made his international debut at the age of 16 years and 205 days in 1989.

The milestone also saw Sooryavanshi overtake Shafali Verma, who had been India’s youngest international debutant overall after making her debut at 15 years and 239 days.

Historic moment for Indian cricket

The young opener’s debut had been eagerly anticipated ever since he was included in India’s squads for the Ireland and England T20I series.

Although he did not feature in the matches against Ireland, India initially continued with the experienced opening pair of Sanju Samson and Abhishek Sharma for the opening T20I against England. Following Samson’s struggles with the bat, discussions around Sooryavanshi’s inclusion intensified.

The Indian team management eventually decided to hand the youngster his opportunity, with captain Shreyas Iyer and head coach Gautam Gambhir backing the teenager for his first international appearance. The debut cap was presented to him by Tilak Verma before the Manchester encounter.

Youngest men’s debutants for India

Following his debut, Sooryavanshi now tops the list of India’s youngest men’s international debutants.

  • Vaibhav Sooryavanshi – 15 years, 99 days (vs England, July 4, 2026)
  • Sachin Tendulkar – 16 years, 205 days (vs Pakistan, November 15, 1989)
  • Piyush Chawla – 17 years, 75 days
  • Laxman Sivaramakrishnan – 17 years, 118 days
  • Parthiv Patel – 17 years, 152 days
  • Maninder Singh – 17 years, 193 days

While Sooryavanshi now holds the record for India’s youngest international debutant, Pakistan’s Hasan Raza remains the youngest men’s Test debutant globally at 14 years and 227 days. Romania’s Marian Gherasim continues to hold the record as the youngest international cricketer overall, having debuted in T20Is at 14 years and 16 days.

Shreyas Iyer backs the young opener

Speaking before the match, captain Shreyas Iyer expressed confidence in the youngster’s temperament and ability to perform at the highest level.

Iyer said Sooryavanshi had consistently impressed during training, adding that the teenager deserved his opportunity after displaying fearless batting and showing no signs of pressure despite his age.

IPL heroics paved the way

Sooryavanshi’s selection followed a remarkable IPL 2026 campaign for the Rajasthan Royals, where he emerged as the tournament’s highest run-scorer.

He accumulated 776 runs at a strike rate of 237.30, registering one century and five half-centuries while smashing 72 sixes. His performances earned him multiple individual honours, including the Orange Cap, Most Valuable Player, Emerging Player, Super Striker, and Super Sixes awards.

Strong performances across formats

The teenager has also impressed in domestic and age-group cricket.

During the recent tri-series involving Sri Lanka A and Afghanistan A, he scored 211 runs in five innings, including a match-winning 94 in the final. He also recorded the fastest fifty in List A cricket by reaching the milestone in just 11 balls against Sri Lanka A.

His record in youth cricket has been equally impressive. Sooryavanshi finished as the leading run-scorer at the Under-19 World Cup with 439 runs in seven matches, helping India lift the title. He also set a tournament record by hitting 30 sixes.

Across youth ODIs, he has accumulated 1,412 runs at an average of 56.48, while his T20 numbers include 1,477 runs from 34 innings at a strike rate above 220.

In the IPL, the youngster has already crossed the 1,000-run mark in just 23 innings, underlining the promise that has made him one of India’s brightest emerging talents.

With his record-breaking debut now complete, Indian cricket fans will be hoping that Vaibhav Sooryavanshi’s international journey lives up to the enormous expectations surrounding one of the country’s most exciting young prospects.

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