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India's Gold Market Faces Modernisation Driven by Gen Z Consumers
India's gold market is transforming as digitally savvy Gen Z consumers view gold as a flexible financial asset. A World Gold Council report highlights the potential to mobilise 31,000 tonnes of idle household gold and modernise the ecosystem.
Trump Administration Plans to Expand H-1B and L-1 Visa Extension Fees
The US administration plans to expand existing H-1B and L-1 visa fees to extension petitions, raising retention costs for tech companies and heavily impacting Indian professionals who form the majority of renewals.
Govt Likely to Allow 0.25% to 0.4% MDR on UPI Payments Above Rs 2,000
The Indian government plans to permit a merchant discount rate of 0.25% to 0.4% on UPI transactions above Rs 2,000 made to businesses, while P2P transfers remain exempt. No implementation timeline has been set yet.
India and US Pursue Interim Trade Agreement with Substantial Progress
India and the US have made significant progress on an interim trade agreement, with only a few outstanding issues left to finalize after substantial discussions, including a June visit by the US Trade Representative to India.
Govt denies fuel quality issues, says additional checks introduced
India's petroleum ministry denied fuel quality issues, stating oil marketing companies instituted extra checks after detecting only two chloride contamination cases nationwide.
World Bank urges developing nations to embrace AI for rapid growth
The World Bank urged developing nations to adopt AI to accelerate growth and improve public services. According to the 2026 report, AI offers productivity gains while posing lower automation job risks in developing economies compared to high-income nations.