The Economics of UPI: Beyond Zero MDR

India’s Unified Payments Interface (UPI) has transformed the country’s payments landscape in less than a decade. What began as a digital payment innovation has evolved into critical economic infrastructure, connecting consumers, merchants, banks and technology platforms through a real-time payment…

A Himalayan Balancing Act

In the rugged Himalayas, where borders are as much a matter of history and perception as of maps and rivers, Nepal’s new prime minister has offered an unusually candid assessment of his country’s long-running territorial quarrel with India. Speaking in…

India’s Sacred Cows and Shifting Sensitivities

As Eid-ul-Azha approaches, a festival centred on sacrifice and submission to God, Muslim leaders in several Indian states have issued an unusual plea: forgo the cow. The All India Pasmanda Ulema Board has advised the community to choose other permissible…