No charge on normal UPI payment: NPCI

Maruti Suzuki India sells over 25 lakh units

New Delhi (PTI): Automaker Maruti Suzuki

Sensex rallies 346 pts, Nifty near 17,100 on firm global markets

New Delhi: Oil and Natural Gas Corporation’s delayed Krishna Godavari basin KG-D5 project is likely to start crude oil production in May this year and gas output a year later, a senior official said. ONGC was originally to start gas production from Cluster-II fields in block KG-DWN-98/2 (KGD5) in June 2019 and the first oil was to flow in March 2020. The company blamed contracting and supply chains issues due to the pandemic for shifting the start of oil production first to November 2021, then to third quarter of 2022 and now to May 2023. —PTI

ZEEL SETTLES

DISPUTES WITH INDUSIND BANK

New Delhi (PTI): National Payments Corporation of India (NPCI) on Wednesday said there is no charge for the bank account to bank account-based UPI payments or normal UPI payments.

However, interchange charges are only applicable for the prepaid payment instruments (PPI) merchant transactions and there is no charge to customers, NPCI clarified.

NPCI has permitted the PPI wallets to be part of interoperable UPI ecosystem and levied 1.1% charge on unified payment interface (UPI) transactions above `2,000 while using PPI.

“The interchange charges introduced are only applicable for the PPI mer-

Top Talking Points

z National Payments Corporation of India (NPCI) said there is no charge for the bank account to bank account-based UPI payments or normal UPI payments z Interchange charges are only applicable for the prepaid payment instruments (PPI) merchant transactions chant transactions and there is no charge to customers, and it is further clarified that there are no charges for the bank account to bank accountbased UPI payments (i.E. Normal UPI payments),” it said.

Across Sectors

New Delhi: Zee Entertainment Enterprises Ltd on Wednesday said it has entered into an agreement with IndusInd Bank Ltd to settle all disputes and claims between the two parties. On February 24, the National Company Law Appellate Tribunal stayed the insolvency proceedings that was initiated against Zee Entertainment Enterprises Ltd (ZEEL) on a petition filed by IndusInd Bank before the National Company Law Tribunal (NCLT).—PTI

India Ltd on Wednesday said it has crossed the 25 lakh units milestone of cumulative exports. The company, which started exports with shipments to Bangladesh and Nepal in 1986-87, said it currently exports to nearly 100 countries, including markets in Africa, Latin America, Asia, and the Middle East. The 2.5 millionth landmark vehicle is a Maruti Suzuki Baleno, shipped from Gujarat's Mundra Port to Latin America, the company said in a statement.

Mumbai (PTI): Benchmark Sensex rose by 346 points while Nifty closed near the 17,100 level on Wednesday amid fresh foreign fund inflows and firm trends in global markets. Buying in services, realty, commodities and auto stocks also added to the positive momentum.

The 30-share BSE Sensex advanced 346.37 points or 0.60% to finish at 57,960.09. During the day, it jumped 510.48 points or 0.88% to 58,124.20. The broader NSE Nifty climbed 129 points or 0.76% to end at 17,080.70.

INDIA’S MERCHANDISE IMPORTS TO CROSS $700 BILLION IN FY23

New Delhi (PTI): India’s merchandise imports are estimated to grow by about 16% to $710 billion in this fiscal due to a jump in inbound shipments of crude oil, coal, diamonds, chemicals and electronics, a report by economic think tank GTRI said on Wednesday. It also said that the Indian economy will be moderately impacted by weak global demand and recession in large economies.

Six product categories - petroleum, crude oil; coal, coke; diamond, precious metals; chemicals, pharma, rubber, plastics; electronics; and machinery - account for 82% of India's total merchandise imports.