New Delhi, Aug 7: The BJP on Friday clarified that the proposed charges on Unified Payments Interface (UPI) transactions would not be imposed on ordinary users and would apply only to commercial transactions.

The clarification came a day after the Lok Sabha passed a Bill to amend the Payment and Settlement Systems Act, 2007, authorising the government to permit banks and other service providers to levy charges on payments made through UPI and other notified electronic payment modes.

Speaking to media, BJP MP Ashok Mittal said, “First of all, I would like to clarify that charges on UPI are not being imposed on the common man. They will only apply to commercial transactions. The charges on UPI will only be applicable to certain business-related transactions and not to ordinary users.”

BJP Bihar President Sanjay Saraogi also sought to allay concerns, saying the move would not place any burden on the general public.

“UPI has brought a digital revolution to India. Whether traders, street vendors or cart vendors, everyone has used UPI and contributed to the country’s growth. The law has only been enacted now. The extent of any charges and the manner in which they will be implemented will be decided later when the rules are framed. The RBI or the National Payments Corporation of India (NPCI) will have to take a decision on the matter,” he said.

Janata Dal (United) MLC Neeraj Kumar Singh defended the proposal, arguing that payment systems require sustainable business models to continue functioning effectively.

“If you want to make a transaction through UPI, what is wrong with paying a charge for it? If you have obtained a GST number for business purposes and want to carry out transactions, then you have to pay for the system. UPI was initially in an experimental stage and there were no charges. If a fee is introduced now, there should not be any issue because every business model has to be sustainable. The government is still providing significant relief to the people,” he told media.

However, the proposal drew criticism from the Opposition. BSP MLA Satish Kumar Singh Yadav said, “It seems that everything is being taxed now. Soon, the government may even impose a tax on speaking and listening. There are taxes on everything — eating, drinking, travelling and sleeping — and now even on UPI. It feels like every aspect of life is being brought under taxation.”

The amendment, passed by the Lok Sabha without discussion amid uproar, seeks to remove the existing legal provision that prevents banks and payment service providers from charging Merchant Discount Rate (MDR) on notified electronic payment modes.

The government’s approach aims to levy small charge on digital payment services for consumers and small businesses while ensuring a sustainable revenue model for banks, payment service providers (PSPs), and payment infrastructure firms that drive the digital payments ecosystem.

Mumbai, Aug 6: In a bid to help underprivileged communities, over 2,500 employees of Adani Electricity donated a large volume of garments as part of the social welfare initiative.

Adani Electricity had requested employees to donate cloths for the underprivileged communities in its distribution areas.

The employees participated enthusiastically in the social welfare drive. The donated clothes were distributed across communities and ‘padas’ (settlements) within Adani Electricity’s distribution areas. Residents of Moracha Pada in Goregaon’s Aarey Colony were among those who received clothes from the Adani Electricity team.

Meanwhile, the leading electricity distribution company in Mumbai proactively escalated its disaster management readiness for the monsoon season, aiming to safeguard its 3.15 million customers from potential disruptions.

To address any emergencies that may arise during the monsoon, Adani Electricity activated its Central Disaster Control Centre (CDCC). This pivotal hub will orchestrate response efforts and operate round-the-clock, ensuring swift action and communication throughout the monsoon period, said the leading electricity distribution company in Mumbai.

Seven Quick Response Teams (QRTs) have been strategically deployed across the distribution network. These teams are equipped with comprehensive response, recovery, and restoration plans specifically tailored for the challenges posed by the monsoon season, said the company.

To monitor rising water levels, 98 advanced water level sensors are now integrated with the Advanced Distribution Management System at critical locations. This setup enhances the ability to preempt and respond to flood-related electrical issues.

The CDCC will leverage state-of-the-art satellite and wireless technologies, including walkie-talkies and remote devices, to maintain uninterrupted communication across departments and with external authorities. This infrastructure ensures minimal downtime and efficient incident management.

Adani Electricity also conducted extensive pre-monsoon inspections and maintenance. Equipment in low-lying areas was elevated to prevent water damage. Essential materials, emergency vehicles, and diesel generators were strategically positioned to tackle any emergency swiftly.

New Delhi, Aug 6: Gold prices on Thursday climbed to a seven-week high as lower US Treasury yields boosted safe-haven demand even as optimism over a possible US-Iran agreement raised hopes of easing geopolitical tensions in West Asia.

On the Multi Commodity Exchange (MCX), gold futures (October 5) opened 0.36 per cent or Rs 536 higher at Rs 1,49,029 per 10 grams and later touched an intraday high of Rs 1,49,700 — an increase of 0.81 per cent or Rs 1,207 by 12:10 pm.

On the other hand, silver futures (September 4) prices have witnessed buying momentum in early deals.

The white metal touched an intraday high of Rs 2,28,397 per kg, an increase of 0.35 per cent or Rs 813 compared to the previous close of Rs 2,27,584. At the last count, it was trading at Rs 2,26,580, a decrease of 0.44 per cent or Rs 1,004.

In the international market too, COMEX gold was trading 0.36 per cent higher at $4,320 per ounce. COMEX silver was at $62.36 per ounce, up 0.12 per cent.

However, the rally came despite reports claiming that the Strait of Hormuz could reopen and comments by US President Donald Trump indicating that Washington was seeking to reach an agreement with Iran.

According to market experts, expectations that easing tensions in the region could lead to lower crude oil prices have reduced concerns over inflation and near-term US monetary tightening, putting pressure on US Treasury yields.

For MCX gold, immediate resistance is at Rs 1,50,000-1,50,700 and a break above targets next resistance at Rs 1,52,200-1,52,800, the experts said, adding that immediate support is at Rs 1,48,600-1,48,000 with next support at Rs 1,46,600-1,46,000.

“Price has decisively broken above all key EMAs (20/50/100/200), confirming a strong shift in near-term momentum after weeks of consolidation. Bias stays positive above Rs 1,49,000, with a hold needed to extend gains toward Rs 1,50,000; a slip below Rs 1,49,000 would signal exhaustion after the sharp run-up, they added.

For silver, the analysts said that a sustained move above Rs 2,29,000 and a break above targets next resistance at Rs 2,31,500-2,32,500.

Immediate support is at Rs 2,25,000-2,24,000, previously resistance now acting as support, with next support at Rs 2,22,000-2,21,000, according to them.

Price is holding above its 20-EMA and 200-EMA, with RSI at 54, edging upward, reflecting improving momentum, though a decisive close above the 50-EMA is needed to confirm renewed strength, the experts said, adding that bias stays cautiously constructive above Rs 2,28,000, with a break above Rs 2,30,000 opening the path toward higher levels; a slip below Rs 2,27,000 risks a pullback toward Rs 2,25,000.

Additionally, Brent crude — the international oil benchmark — slipped 0.51 per cent to trade below $80 per barrel. Similarly, US West Texas Intermediate (WTI) crude slumped nearly 1 per cent to below $75.