FINANCEOUTLOOKINDIA9AUGUST, 2026Nomura believes that negotiations between the United States and India are progressing steadily and that a trade agreement could be finalised in the near future. According to the brokerage, both countries appear close to aligning on tariff adjustments, which are expected to settle around the 20% range. While discussions have advanced meaningfully, the deal has not yet been formally concluded, but Nomura expects a breakthrough soon.The firm also assessed India's current macroeconomic environment, noting that the economy is benefiting from easing inflation, supportive UPI HITS RECORD 23.66 BILLION TRANSACTION VOLUME IN JULY: NPCI DATAINDIAN WEALTH CREATORS CROSS 3,000 MARK: 360 ONE REPORTBANK HOLIDAYS IN AUGUST 2026 GET 14 DAYS OF CLOSURESGST COLLECTIONS HIT 14-MONTH HIGH IN JULY, CROSS RS 2 LAKH CRORE MARKFINANCE MINISTRY PROPOSES REINTRODUCING MDR ON UPI TRANSACTIONSThe Finance Ministry has reportedly proposed a key legislative change that could pave the way for reintroducing MDR on UPI transactions for large merchants, marking the first formal step toward building a sustainable revenue model for India's rapidly growing digital payments ecosystem.According to reports, as part of proposed amendments to the Payment and Settlement Systems Act, 2007, the government intends to remove provisions that currently prevent banks and payment system providers from levying MDR on notified electronic payment modes. Once Parliament approves the amendment, the Centre would be empowered to issue a notification specifying which transactions can attract MDR charges. India's Unified Payments Interface (UPI) recorded its record transaction volume in July 2026, processing 23.66 billion transactions worth Rs 29.88 lakh crore, according to NPCI data. The July figures surpassed the previous volume record of 23.20 billion transactions set in May this year. However, transaction value came in marginally below the all-time high of Rs 29.90 lakh crore, which was also recorded in May.According to NPCI Data, UPI processed an average of 763 million transactions in July, with average daily transaction value standing at Rs 96,383 crore on a daily basis. Compared to June, transaction volume rose 4.1% from 22.72 billion, while transaction value increased 3.3% from Rs 28.92 lakh crore. GST collections rose 15.4% year-on-year to Rs 2.11 lakh crore in July 2026, marking the fastest growth in 14 months and only the second instance this fiscal year that monthly collections have crossed the Rs 2 lakh crore threshold.The robust performance was led by a sharp rise in import-related GST collections, which jumped 28.8% Indian wealth creators are expanding in number and getting younger, with private wealth continuing to concentrate among a smaller set of families and individuals, according to the 2026 edition of the 360 ONE Wealth Creators List.This year, the wealth creators list that went beyond Rs 425 crore has increased to 3,040 from 2,013 in 2025. Notably this year, the overall qualification threshold has also been reduced, from Rs 500 crore to Rs 425 crore, partly accounting for the increased number as well as the real growth in the wealth of companies. Together, these people have assets of Rs 104 lakh crore against Rs 100 lakh crore in the last edition. The Reserve Bank of India (RBI) has released its bank holidays in August, listing 14 days on which banks across the country will remain shut, including scheduled Saturdays and Sundays. Both public and private sector banks will observe these closures.to Rs 66,511 crore. Domestic GST revenues also stayed healthy, growing 10.1% to Rs 1.45 lakh crore, pointing to sustained strength in economic activity and consumer spending.Apart from gazetted public holidays, all scheduled and unscheduled banks remain closed on every second and fourth Saturday, as well as on all Sundays. The list also includes several regional and religious festival holidays that vary by state. Besides the state-specific and national holidays, banks will remain closed on all Sundays which is on August 2, 9, 16, 23 and 30, as well as on the second and fourth Saturdays, falling on August 8 and August 22 in line with standard RBI rules.
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