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RBI proposes measures to strengthen Prepaid Payment Instruments framework

The RBI on Wednesday proposed several measures to develop a more conducive framework for the long-term growth of Prepaid Payment Instruments (PPIs), including enhanced transaction security and clearer rules on refunds and grievance redressal. PPI is a payment instrument in which money is loaded and which facilitates subsequent transactions utilising the fund. These instruments are categorised as general purpose PPI, gift PPI, transit PPI, PPI for NRIs, besides certain other specific purpose PPI. RBI said that as part of its continued efforts to develop a conducive framework for long-term growth of PPIs with enhanced security of transactions, a comprehensive review of the extant guidelines has been undertaken. Accordingly, a draft Master Direction on Prepaid Payment Instruments was issued, and comments were invited by May 22, 2026. A bank permitted by RBI to issue debit cards can issue PPIs, with prior intimation to the Department of Payment and Settlement Systems (DPSS), Central ..

Enterprise AI adoption held back by skills gap, says Nutanix AI chief

Nutanix Chief AI Officer Debojyoti Dutta says enterprises are struggling to deploy AI at scale due to a shortage of skilled professionals, even as adoption shifts from pilots to production

Top oil traders warn Hormuz closure risks global recession, demand hit

The vital energy channel has been largely closed to non-Iranian shipping since war began at the end of February, choking off hundreds of millions of barrels of supply

PNG push gains pace: 500,000 new connections amid LPG supply concerns

India has accelerated its shift to piped natural gas, with more than 5.01 lakh new PNG connections gasified since March and over 5.68 lakh consumers registering for fresh connections, even as authorities manage LPG supplies amid geopolitical disruptions. With the war in West Asia disrupting cooking gas LPG supplies, the government is pushing households as well as industries to move to piped natural gas -- a more convenient alternative whose supplies have not been very badly hit. LPG users within the reach of a PNG connection have been asked to shift, while orders have been issued for expediting approvals for laying of pipelines that supply gas to burner tips. "Since March 2026, more than 5.01 lakh PNG connections have been gasified," said Sujata Sharma, Joint Secretary in the Ministry of Petroleum and Natural Gas, at a news briefing on Tuesday. Gasified means the start of gas supplies. These connections include ones that may have been applied before the crisis as well as after ...

Stocks extend losses as Vance trip on hold fuels Iran talks uncertainty

The standoff threatens to deepen a global energy crunch, with flows through the vital Strait of Hormuz remaining at a virtual standstill

AI-generated content: Meity proposes continuous labelling mechanism

Draft amendment to IT Rules mandates continuous, clearly visible labels for AI-generated content across formats, as govt extends consultation deadline to May 7

Japan opens door to global arms market, breaking with postwar pacifism

Prime Minister Sanae Takaichi and her top officials, at a meeting in Tokyo, reversed longstanding limits on the sale of Japan-made weapons overseas

Taming the Dragon: Clear diagnosis but few solutions to India-China tension

Why India must not only enhance its comprehensive national power but also become a major power in China's perception

US Fed nominee Warsh says he'll 'absolutely not' be Trump's stock puppet

Warsh was responding to a question from Senator John Kennedy of Louisiana about whether he would be a "sock puppet" for the president. "Absolutely not," Warsh responded

Infra investments to grow 50% through FY28 despite West Asia crisis: Crisil

Crisil sees strong infrastructure investment growth through FY28 backed by policy support and balance sheets, though risks persist across renewables, roads and real estate

Brookfield platform Evren secures $600 mn to supply 300 MW RE to NTPC

Brookfield-backed Evren raises $600 million for hybrid renewable project integrating solar, wind and storage to supply 300 MW power to NTPC under PPA

Office rents cross ₹100/sq ft a month in B'luru, NCR amid demand-supply gap

Average monthly rentals for prime office spaces in Bengaluru and Delhi-NCR have crossed Rs 100 per sq ft mark for the first time as demand for prime workspaces exceeds supply, according to Knight Frank data. In Mumbai, the average office rentals are already above Rs 100 per sq ft. Real estate consultant Knight Frank data showed that the average rentals for office spaces rose in a range of 2-15 per cent during January-March 2026 across eight major cities of India compared to the same period last year. The maximum annual growth of 15 per cent in office rent was seen in Delhi-NCR and Kolkata. "The supply constraints across key markets have supported a sustained rental upcycle since early 2022...," the consultant said in its latest Q1 (January-March) 2026 report on the Indian office market. The report mentioned that rental growth remained positive in Q1 2026, ranging between 2 per cent and 15 per cent YoY (year-on-year) across cities. "Notably, NCR and Bengaluru breached an average r

Do you know your Hinduism? Understanding an ancient way of life journey

While everyone must find the meaning of religion in their own way, this book serves as a handy guide in the journey

India expands Russian insurer list as Iran conflict disrupts oil flows

Some 11 Russian insurers that are not members of so-called P&I Clubs are now allowed to provide the services, up from eight last month

Google eyes new chips to speed up AI results, challenging Nvidia

Nvidia's graphics processing units, or GPUs, remain the gold standard for AI, particularly for training more advanced models

Kremlin-friendly ex-President wins Bulgaria elections in landslide

Two other parties also appear to have gained seats in the 240-seat chamber, according to the latest results. Borissov conceded defeat and congratulated the election winner.

Trump says team led by Vance heading to Pakistan for talks with Iran

Trump said the team would include Vance, special envoy Steve Witkoff and the president's son-in-law Jared Kushner

Core sector contracts 0.4% in March amid fall in coal, power output

The core sector output contracted by 0.4 per cent in March, marking the first decline in five months as production of coal, crude oil, fertiliser, and electricity fell, according to official data released on Monday. In February 2026, the eight core infrastructure sectors had expanded by 2.8 per cent. In 2025-26, these sectors recorded a growth rate of 2.6 per cent as against 4.5 per cent in 2024-25.

SC dismisses Umar Khalid review plea in Delhi riots case, denies bail again

The Supreme Court has dismissed activist Umar Khalid's plea seeking a review of a verdict denying him bail, while observing that there are reasonable grounds to believe the allegations levelled against him in connection with a conspiracy behind the 2020 Delhi riots. A bench of Justices Aravind Kumar and N V Anjaria also rejected the plea seeking an oral hearing of the review petition. "Having gone through the review petition and also the documents enclosed, we do not find any good ground and reason to review the judgment dated January 5, 2026. Accordingly, the review petition is dismissed," the bench said in its April 16 order. According to the Supreme Court's rules, review petitions are considered by judges who delivered a judgment or passed an order in chambers to remedy an apparent error or a resultant grave injustice that was a consequence of a decision of the apex court. Parties seeking a review can request judges for an open-court hearing to rectify the grave injustice caused

The architecture of autonomy: How 'Muskism' is remaking the global order

A new book frames "Muskism" as a system blending tech power, state dependence and libertarian rhetoric, shaping a disruptive and unequal political economy