Business
Italian watchdog fines Amazon $1.3 bn for abusing its market position

The Italian Competition Authority on Thursday fined e-commerce giant Amazon $1.3 billion (1.1 billion euros) for using its dominance in the online shopping world and harming competing operators in the logistics space via its ‘Fulfilment by Amazon’ (FBA) service.
The antitrust watchdog called AGCM was particularly concerned with the benefits Amazon gives to sellers on its platform that also pay to use its FBA logistics service.
“The investigation found that these are functions of the Amazon.it platform that are crucial for the success of sellers and for increasing their sales. Finally, the stringent performance measurement system to which Amazon subjects non-FBA sellers is not applied to third-party sellers who use FBA, and failure to pass this can also lead to the suspension of the seller’s account,” the AGCM said in a statement.
In doing so, said the authority, Amazon has harmed competing e-commerce logistics operators by preventing them from proposing themselves to online sellers as providers of services of a quality comparable to that of Amazon’s fulfillment.
“These conducts have, thus, increased the gap between the power of Amazon and that of the competition in the e-commerce order delivery business,” the statement read.
In a statement to Engadget, Amazon said: “We strongly disagree with the decision of the Italian Competition Authority (ICA) and we will appeal. The proposed fine and remedies are unjustified and disproportionate.”
The Italian watchdog said that Amazon must grant sales and visibility privileges on its platform to all the third-party sellers. The ACGM has given Amazon a year to comply with its rulings.
The fine is one of the largest levied by a EU country over online anti-trust issues.
Last month, the AGCM fined tech giants Apple and Google around $11.3 million each over violations of the Consumer Code – one for lack of information and another for aggressive practices regarding the acquisition and use of consumer data for commercial purposes.
This was the second time Apple was fined by the Italian regulator last month, after it and Amazon were hit with fines totalling over around $225 million for restricting who’s allowed to sell Apple and Beats products on Amazon’s Italian store.
Earlier this month, a significant report from a US-based nonprofit organisation claimed that Amazon is exploiting its position as a gatekeeper to impose steep and growing fees on third-party sellers, raking in big moolah.
In 2019, Amazon pocketed $60 billion in seller fees and this year, its take will soar to $121 billion, according to the report titled ‘Amazon’s Toll Road’ by the Institute for Local Self-Reliance.
Business
India embraces cashless revolution in last 11 years: Nirmala Sitharaman

Nirmala Sitharaman
New Delhi, June 9: Union Finance Minister Nirmala Sitharaman on Monday said that India is embracing a cashless revolution with world-class digital initiatives like unified payments interface (UPI).
In the last 11 years, India has seen a remarkable journey under the leadership of Prime Minister Narendra Modi, the finance minister said on a post on X.
“India is embracing a cashless revolution. With Rs 70,000 crore+ worth UPI transactions daily and 59.6 crore transactions in a single day, digital payments are now the norm,” the minister added.
From making life easier for the common citizen to boosting business confidence, it’s been a decade of real and visible change, she further stated.
India today is not just the fastest-growing major economy, but also a key global voice on pressing issues like climate action and digital innovation.
In the month of May, UPI posted a robust growth by processing 18.68 billion transactions, up from 17.89 billion in April. As per data by the National Payments Corporation of India (NPCI), the UPI transactions mark a 33 per cent year-on-year (YoY) surge compared to 14.03 billion transactions in the same month last year.
The UPI transactions rose to Rs 25.14 lakh crore (by value) last month, a 5 per cent increase from Rs 23.95 lakh crore in April. This reflects a 23 per cent rise from Rs 20.45 lakh crore in May last year. The average daily transaction volume stood at 602 million, while the average daily transaction value reached Rs 81,106 crore.
The UPI has strengthened its dominance in India’s digital payments system with its share in the total transaction volume rising to 83.7 per cent in 2024-25 from 79.7 per cent in the previous financial year.
The RBI’s annual report shows that UPI facilitated 185.8 billion transactions during 2024-25, which represents a 41 per cent year-on-year increase. In value terms, UPI transactions rose to Rs 261 lakh crore from Rs 200 lakh crore in FY24.
National
Assam CM holds meeting on governance issues, focus on police welfare

Guwahati, June 9: In a series of high-level meetings held throughout the day, Assam Chief Minister Himanta Biswa Sarma reviewed a broad spectrum of governance issues, placing particular emphasis on police welfare, social benefit schemes, infrastructure investment, and agricultural exports.
Taking to social media platform X on Sunday, CM Sarma outlined key outcomes of the discussions.
The primary discussions among them was the announcement of a new model aimed at ensuring timely promotions for Assam police personnel.
“We are working on a model to ensure time-bound promotions from Constable to Havildar through the Assured Career Progression Scheme,” the Chief Minister posted, emphasising the need for recognising the hard work and dedication of the state’s police force.
The CM also assessed the district-wise and Legislative Assembly constituency-wise implementation of the Orunodoi 3.0 scheme, Assam’s flagship direct benefit transfer initiative.
He directed officials to ensure that no deserving beneficiary is excluded from the scheme, which aims to offer financial aid to economically vulnerable households.
In addition, CM Sarma reviewed the status of various projects under the Special Assistance to States for Capital Investment, a Central government initiative to support infrastructure development.
The review aimed at accelerating the pace of ongoing works and addressing bottlenecks in execution.
On the agricultural front, the Chief Minister highlighted the success of the Assam Agribusiness and Rural Transformation Project (APART) in expanding the global reach of the state’s agri-products.
With APART 2 in the pipeline, the state government plans to integrate the project with the One District One Product (ODOP) initiative to deliver cohesive outcomes and boost farmer incomes.
The day’s reviews reflect the government’s push toward administrative efficiency, welfare delivery, and economic development in Assam.
The CM said on X, “Took an in-depth review on the progress of various schemes ongoing under the Special Assistance to States for Capital Investment. @apartassam has been successful in taking forward Assam’s agri products to the world market. We are making it more potent through APART 2 which will also link up with ODOP for cohesive results and boost farmers’ incomes.”
National
IRCTC’s Chhatrapati Shivaji Maharaj heritage train tour receives overwhelming response

New Delhi, June 7: The Indian Railway Catering and Tourism Corporation (IRCTC), a Navratna company under the Ministry of Railways, Government of India, has received an overwhelming response to its newly-launched ‘Chhatrapati Shivaji Maharaj Circuit Train Tour.’
Scheduled to depart from Chhatrapati Shivaji Maharaj Terminus (CSMT), Mumbai, on June 9, the heritage tour is already fully booked. A total of 710 passengers have secured their spots across various classes, with 480 bookings in Economy (Sleeper Class), 190 in Comfort (3AC), and 40 in Superior (2AC).
This six-day train journey has been specially curated to showcase the glorious history and grand legacy of Chhatrapati Shivaji Maharaj.
The tour is the result of a collaborative effort between the Government of Maharashtra, Indian Railways, and IRCTC, aiming to provide travellers with an immersive experience that brings to life the heroic saga of the legendary Maratha ruler.
The train will cover historically significant sites such as Raigad Fort, Shivneri Fort, Pratapgad Fort, Panhala Fort, Lal Mahal, Kasba Ganpati Temple, and Shivsrushti, all closely associated with the key events and life of Chhatrapati Shivaji Maharaj.
The journey begins with the train departing from CSMT and heading toward Mangaon station on the Konkan Railway network, the nearest access point to Raigad Fort.
Raigad is the site of Shivaji Maharaj’s coronation and was his capital. After sightseeing, tourists will travel to Pune for an overnight hotel stay. On the second day, they will visit Lal Mahal, a red palace originally built by Shivaji’s father Shahaji Bhosale in 1630, and later rebuilt in 1984.
Tourists will also see the Kasba Ganpati Temple, believed to have been established by Shivaji’s mother Jijabai, and the historical theme park Shivsrushti, where Shivaji’s life story is presented through 3D visuals and interactive exhibits. Visitors will spend a second night in Pune.
On the third day, the tour continues to Shivneri Fort, Shivaji Maharaj’s birthplace located atop a hill near Junnar and will also visit the Bhimashankar Jyotirlinga Temple, one of the twelve Jyotirlingas in India.
After the visit, tourists return to Pune for overnight rest. On the fourth day, the train will proceed to Satara. From there, travellers will explore Pratapgad Fort, the historic site of the 1659 battle between Shivaji Maharaj and Afzal Khan of the Bijapur Sultanate.
After this visit, the group will leave for Kolhapur.
The final day of the tour begins with the train arriving at Chhatrapati Shahu Maharaj Terminus in Kolhapur.
Following this, there will be a tour of the iconic Panhala Fort, located in the Sahyadri Hills. This fort has deep historical connections with Shivaji Maharaj, who was held captive there for over 500 days before making a dramatic escape.
Known as the ‘Fort of Serpents’ due to its winding structure, Panhala is also famous for the legendary bravery of Baji Prabhu Deshpande, Shivaji’s general, during a crucial battle to retain control of the fort.
The tour package includes train travel, comfortable hotel accommodations, all vegetarian meals, transfers and sightseeing via air-conditioned buses, travel insurance, and the assistance of experienced tour escorts.
IRCTC has assured that all necessary arrangements have been made to ensure the safety and comfort of passengers while providing a culturally enriching and memorable journey.
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