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Gargi by PNGS Celebrates Growth with New Store Openings in Aurangabad and Indore

The Fashion Jewellery Brand Marks Significant Expansion, Bringing its Total Store Count to 12 in Just Three Years

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Gargi by P N Gadgil & Sons (PNGS), a leading name in the fashion jewellery industry, has closed the year with a strong performance, inaugurating two new stores in Aurangabad and Indore. These additions bring the total number of exclusive Gargi outlets to 12, marking a major milestone in the brand’s rapid retail growth over the past three years.

Expanding Reach in Emerging Markets
The new stores, located in high-traffic retail destinations—Prozone Mall in Aurangabad and Citadel Mall in Indore—are part of Gargi’s strategy to expand into Tier 2 and Tier 3 cities. This move is aimed at catering to the increasing demand for affordable, high-quality fashion jewellery in smaller urban centers, beyond the metropolitan regions.

A Year of Achievements and Innovation
2024 has proven to be a landmark year for Gargi. The brand expanded its footprint in Delhi with the opening of its Kapil Vihar, Pitampura store, and made further strides in Maharashtra with new outlets in Pimple Saudagar and Aurangabad. These expansions reinforce Gargi’s commitment to making stylish fashion jewellery more accessible to a wider audience.

The brand also launched the Utsaav collection, a festive range perfect for special occasions, and introduced its first-ever Kids Collection, featuring certified sterling silver jewellery designed with both safety and style in mind. These initiatives demonstrate Gargi’s dedication to inclusivity and diversification within the fashion jewellery market.

Aditya Modak, Co-founder of Gargi by PNGS, expressed, “Our growth isn’t just about numbers; it’s about connection. When people from different cities—whether women, men, or children—resonate with our designs, we know we’re on the right track. Aurangabad and Indore are not just new stores; they represent fresh relationships, inspiration, and opportunities for creative expression.”

Financial Growth and Future Goals
Gargi by PNGS has also achieved impressive financial milestones, surpassing a market capitalization of Rs. 1,500 crore, with plans to reach Rs. 100 crore in revenue by March 2025. The brand’s franchise-driven model has played a key role in this success, empowering local entrepreneurs while expanding the PNGS legacy. With PNGS boasting an annual turnover of over Rs. 8,500 crore, Gargi’s journey is marked by a blend of heritage and innovation.

Looking to the future, Gargi aims to continue its expansion across India, capitalizing on shifting consumer preferences and forging deeper connections with jewellery enthusiasts of all ages.

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

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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.

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