📰 India Business Brief: Top Headlines for September 25, 2026

The Economic Times

• Government Allays UPI MDR Concerns: The Ministry of Finance and authorities affirmed that the proposed 0.4% UPI merchant discount rate (MDR) will not be passed on to retail consumers, with the ministry actively engaging with banks and merchant associations to address implementation worries.
• Advance Salary Disbursal Ahead of Bank Strike: Central government employees and pensioners are receiving their September salaries and pensions today, September 25, ahead of a proposed three-day nationwide bank strike scheduled from September 28 to 30.
• UP International Trade Show Commences: Uttar Pradesh is inaugurating its 4th International Trade Show in Greater Noida (September 25–29), drawing more than 600 international buyers from 88 countries to pitch the state as a prime manufacturing and export destination.
• Reliance Plans ₹10,000-Crore Fundraise: Reliance is set to tap surplus liquidity in the domestic banking system by launching a ₹10,000-crore bond issue in the coming week.
• Concerns Over Credit-Led Expansion: Macroeconomists have flagged risks over the pace of Indian economic growth becoming increasingly driven by credit expansion amid persisting external headwinds.

Business Standard

• IRDAI Fee Cap Shakes Insurance Distributors: Insurance and fintech stocks witnessed sharp volatility following the insurance regulator's draft proposals to cap distributor commissions, prompting intermediaries like PB Fintech to assess and restructure business models.
• Akasa Air Eyes Major Fleet Expansion: Low-cost carrier Akasa Air is in advanced discussions to place a massive order for more than 200 Boeing 737 MAX aircraft to support its long-term domestic and international route growth.
• Kalpataru Projects Wins ₹2,000+ Crore Orders: Kalpataru Projects International Limited (KPIL) announced fresh orders totaling over ₹2,025 crore across its domestic and overseas business verticals.
• Fintechs Rush to Build Merchant Infrastructure: Ahead of incoming payment fee adjustments scheduled for mid-October, digital payment providers are accelerating merchant acquisition across tier-2 and tier-3 retail points.
• JSW Seeks Indemnity in Volkswagen Venture: JSW Group has asked partner Volkswagen to cover an estimated $1.4 billion tax liability stemming from their joint automotive operations.

Mint

• Domestic Equities Open Cautious After Heavy Selloff: Dalal Street indices faced a muted start following a steep slide where the Nifty 50 fell below 25,200 and the Sensex declined towards 73,580, pressured by elevated Brent crude near $106/bbl and rising global bond yields.
• RBI Issues '10 Commandments' for AI Governance: The Reserve Bank of India has unveiled formal risk-management guidelines advising financial institutions to strictly govern artificial intelligence models and tech dependencies before deploying them at scale.
• Stockbrokers Approach Centre on UPI Levies: Market intermediaries and brokerage associations have approached the Union government seeking clarity and exemptions regarding payment gateway transaction fees on retail trading transfers.
• Agriculture Infrastructure Fund Reaches ₹1 Trillion: Disbursals under the Centre's Agriculture Infrastructure Fund (AIF) crossed the ₹1-trillion threshold, targeting modern post-harvest management and storage facilities.
• FSSAI Tightens Anti-Adulteration Rules: The food safety regulator has moved to ban and crack down on "analogue paneer" made from non-dairy fats, enforcing stringent transparency labels across food processors.

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