National News
Augmont Launches Limited Edition ‘Bharat and Beyond’ Silver Coin Kit
Commemorating India’s 75th Republic Day anniversary
Pioneers in the Gold Industry, Augmont is launching limited edition Silver Coin Kit with the theme ‘Bharat and Beyond’ to commemorate India’s 75th Republic Day
Meticulously crafted by Augmont, the ‘Bharat and Beyond Silver Coin Kit’ isn’t just a collector’s item; it is a symbol of the nation’s extraordinary progress, celebrating the milestones in technology, healthcare, education, and infrastructure that have shaped the ‘Bharat’ we see today.
This exclusive ‘Bharat and Beyond Silver Coin Kit’ offers a unique commemorative experience, featuring a 5-gram 999 purity silver coin that symbolises India’s progress, a copy of ‘The Constitution of India’ book by Dr. B.R. Ambedkar, reflecting the country’s democratic foundation, and a selection of Augmont goodies, adding a special touch to this.
This thoughtfully curated kit serves as a tribute to India’s achievements while preserving the essence of its cultural and democratic heritage.
Sachin Kothari, Director at Augmont said “The commemorative silver coin kit celebrates India’s (Bharat) advancements over the past decade in sectors such as technology, healthcare, education, and infrastructure.
“It also serves as a symbol to inspire both present and future generations to continue fostering growth and development, carrying forward the flame of innovation.”
The Bharat and Beyond coin design draws inspiration from two iconic symbols of India’s governance and cultural heritage: the recently built New Indian Parliament building and the Sengol.
The New Parliament building, representing India’s vibrant democracy, stands as a symbol of strength, inclusivity, and progress in shaping India’s future. And the Sengol, an ancient symbol of power and justice, reflects India’s rich cultural legacy and the continuity of leadership.
Together, these elements embody Bharat’s journey of growth, bridging its glorious past with its ambitious future as it emerges as a global powerhouse leading innovation in technology, healthcare, education, and infrastructure.
National News
MDR For UPI: Credit Card Bill Payments and Jewellery Purchases Remain Free For Consumers
Consumers Are Advised That Merchant-Imposed Surcharges On Card Or UPI Payments Violate Current Payment Guidelines
Following recent industry discussions regarding the updated Merchant Discount Rate (MDR) framework for Unified Payments Interface (UPI) transactions, financial experts and industry leaders have clarified that individual consumers will not incur any additional charges when paying credit card bills or purchasing high-value items like jewellery via UPI apps.
Zero Fees on Credit Card Bill Payments via UPI
Despite the implementation of the revised UPI MDR structure, consumers using UPI-enabled applications to pay their credit card bills remain entirely exempt from MDR fees.
No Cost Impact for Users: Cardholders can continue paying their bills through standard UPI QR codes or app-based transfers without losing reward points, credit float advantages, or incurring extra costs.
Understanding BBPS Fees: While standard bank-to-bank UPI transfers do not carry MDR, credit card bill payments processed through the Bharat Bill Payment System (BBPS) may incur small convenience or processing fees set directly by participating payment platforms under their own commercial terms—not as part of the UPI MDR framework.
Framework for Jewellery Purchases and High-Value Merchants
For high-value retail transactions, including jewellery purchases, regulatory guidelines mandate that the burden of MDR falls strictly on merchants, not customers:
Consumer Exemption: Merchants and payment platforms are prohibited from passing MDR charges or platform surcharges directly onto buyers.
Capped MDR for Jewellers: Under the revised Person-to-Merchant (P2M) framework for transactions exceeding Rs 2,000, jewellers and high-value merchants absorb a capped MDR of 0.4% (up to a maximum limit of Rs 300 per transaction for purchases of Rs 75,000 and above).
Payment Transparency: While jewellers absorb nominal fees for bank-linked UPI transactions, standard credit card fees continue to apply to credit card swipes and RuPay-credit card UPI transactions.
Consumers are advised that merchant-imposed surcharges on card or UPI payments violate current payment guidelines.
MDR For UPI: Credit Card Bill Payments and Jewellery Purchases Remain Free For Consumers
Indian Exhibitors Saw Steady European Demand Vicenzaoro September
Bollywood Meets Business Legacy: Ranbir Kapoor Praises PNG Jewellers Chairman’s Raw New Memoir, Choosing Gold
QDE, Borsa Diamanti D’Italia Signed MoU To Bolster Trade and Expand Commercial Ties
MDR For UPI: Credit Card Bill Payments and Jewellery Purchases Remain Free For Consumers
Mavitrra Launches Ganpati-Inspired Fine Jewellery Collection For Ganesh Chaturthi, Blending Tradition With Contemporary Design
-
DiamondBuzz3 hours agoQDE, Borsa Diamanti D’Italia Signed MoU To Bolster Trade and Expand Commercial Ties
-
National News1 hour agoMDR For UPI: Credit Card Bill Payments and Jewellery Purchases Remain Free For Consumers
-
National News3 hours agoMavitrra Launches Ganpati-Inspired Fine Jewellery Collection For Ganesh Chaturthi, Blending Tradition With Contemporary Design
-
ShowBuzz2 hours agoIndian Exhibitors Saw Steady European Demand Vicenzaoro September
JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.