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In fact, UPI is not the only form of digital payment. There are other ways as well. As the RBI annual report points out: “During 2024-25, total digital payments recorded growth of 34.8 per cent and 17.9 per cent in volume and value terms, respectively.”5) Now, more digital payments happening should automatically imply people using lesser cash as a result and hence, lead to lesser cash in the system. There is no denying that that has happened, but only to some extent.As mentioned earlier, the value of UPI transactions in...

Donald Trump’s trade war has already sparked a crisis of confidence in the US - Jim Lo Scalzo/EPA-EFE/Shutterstock Donald Trump has branded it the “big beautiful bill” that will save millions of jobs and boost Americans’ take-home pay by up to $5,000 (£3,700) a year. However, while recent focus has been on the market ructions caused by the trade war, the US president’s package of sweeping tax cuts will arguably be a bigger test of investors’ faith in the world’s biggest economy. Congress remains deeply divided over not only the...

Budget 2025: The Indian stock market experienced high volatility on Saturday, February 1, following the FY26 Union Budget announcement by Finance Minister Nirmala Sitharaman. While the budget introduced major changes in income tax slabs, shifting more money into the hands of middle-class consumers, market sentiment remained mixed due to concerns over government capital expenditure (capex) allocation.A key takeaway from the budget was the increase in the income tax exemption limit to ₹12 lakh, a significant move aimed at boosting household consumption, savings, and investment. There had been widespread expectations that...