Center dramatically cuts LPG subsidy bill, UPI on credit cards likely in two plus months: Mint Morning Digest

The Center significantly reduces its LPG subsidy bill

The cost to the government of subsidizing LPG cylinders has dropped drastically from 11,896 crores in FY21 for 242 crore in FY22, according to data provided in the Lok Sabha by the Union Oil Ministry. Read more

UPI on credit cards probably in two months

Retail payments apex body National Payments Corporation of India (NPCI) plans to operationalize the linking of Rupay credit cards to the Unified Payment Interface (UPI) network within a few months, Chief Executive Dilip Asbe said on Friday. . Read more

Rupee settlement can be difficult to implement

The Reserve Bank of India’s decision to allow international business transactions in rupees could facilitate trade flows with BRICS countries – Brazil, Russia, China and South Africa – and sanctioned Iran, but the new regulation might not be easy to implement. Read more

RIL profits jump on high refining margins

Reliance Industries Ltd reported a 46% rise in quarterly profit, helped by strong refining margins, but fell short of analysts’ expectations due to soaring input costs. Read more

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