National News
Hari Krishna Exports Celebrates 12 Years at The Capital, Mumbai
Conducts Life-Saving Initiative: Blood Donation Drive and Eye Check-Up Camp at Bharat Diamond Bourse, BKC, Mumbai
Hari Krishna Exports Pvt. Ltd. (HK), a globally renowned ethical diamond sourcing company, commemorated its 12-year milestone at The Capital, Bandra Kurla Complex (BKC), Mumbai, with a significant humanitarian initiative—a blood donation drive. This event was not just a celebration of HK’s growth but a reaffirmation of its deep-rooted commitment to social responsibility.
A Legacy Built Over Decades
HK’s journey in Mumbai began in 1994, when the Dholakia brothers—Savji, Tulsi, Himmat, and Ghanshyam—opened their first Mumbai office at Panchatantra, marking a crucial step in expanding their diamond business. As the company grew, so did its presence in the city, moving to Shreeji Chambers in 1997 and later to Prasad Chambers in 2003 to accommodate its rising workforce.
By 2013, HK had firmly established itself as a leader in the diamond industry, opening its prestigious 44,000 sq. ft. office at Bandra Kurla Complex, Mumbai’s financial hub. This expansion showcases the company’s commitment to the relentless pursuit of excellence and innovation.
Celebrating with Purpose
To mark this 12-year milestone at The Capital, HK organised a large-scale blood donation drive, bringing together employees, industry partners, and volunteers. The event, held at the Convention Hall, BKC, Bandra (E), Mumbai, from 10 AM to 6 PM, witnessed an overwhelming response, with 520 units of blood collected, contributing to a cumulative total of 19983 bottles donated over the years.
This remarkable event was graced by our esteemed Mr. Kiritbhai Bhansali Mumbai BJP-Treasurer and Vice Charmen GJEPC, and other notable figures from the Banking and diamond industry were in attendance, lending their support to the cause and recognizing the company’s efforts toward philanthropy and employee well-being.
A Commitment Beyond Diamonds
HK has always prioritised the health and well-being of its employees, ensuring comprehensive health check-ups and wellness programs. The blood donation drive is just one of many initiatives aimed at fostering a culture of care, solidarity, and responsibility.
The event was meticulously organised with the support of experienced medical professionals, ensuring a smooth and safe donation process. Donors were provided with refreshments and tokens of appreciation, symbolising HK’s gratitude for their selfless act.
A Message of Gratitude and Vision for the Future
In a statement Ghanshyam Dholakia expressed,“We are deeply grateful for the overwhelming participation in our blood donation drive. Over the past 12 years, our journey at The Capital has been made possible by the unwavering dedication of our employees, partners, and customers. This initiative is not just a celebration of our achievements but a testament to our commitment to giving back to society. We look forward to continuing this tradition of care and responsibility for years to come.”
National News
NPCI Defers Rollout Of UPI Merchant Discount Rate Until After Diwali
Given Typical Retail Margins Of 2%–6% On Bullion and Plain Gold Jewellery, Absorbing A 0.4% Fee—Or Up To ₹300 Per Large Transaction—Would Have Directly Eaten Into Festive Profitability. The Deferral Keeps Bottom Lines Protected Through Dhanteras and Diwali.
The National Payments Corporation of India’s (NPCI) UPI and Services Steering Committee has deferred the implementation of Merchant Discount Rates (MDR) on select person-to-merchant (P2M) UPI transactions until immediately after Diwali.
The move aims to protect consumer sentiment and keep operational costs steady for businesses during the peak festive shopping season. A specific implementation date will be announced separately.
Key Highlights
- Festive Relief for Retail: The deferment ensures merchants face no additional payment processing costs during peak festive demand, helping avoid disruptions to consumer spending.
- The Approved MDR Structure:
- Applies only to eligible P2M transactions above Rs 2,000 at a rate of 0.4%.
- Capped at Rs 300 for high-value transactions of Rs 75,000 and above.
- Everyday low-value payments and small merchants remain fully exempt, preserving zero-cost digital transactions for general consumers.
- Timeline Adjustment: Originally notified on September 15 for an October 15 rollout, the framework will now take effect post-Diwali, giving banks, payment aggregators, and merchants additional runway to align their systems and communicate terms clearly.
Jewellery purchase values routinely exceed the Rs 2,000 threshold and frequently touch or surpass the Rs 75,000 cap. Given typical retail margins of 2%–6% on bullion and plain gold jewellery, absorbing a 0.4% fee—or up to Rs 300 per large transaction—would have directly eaten into festive profitability. The deferral keeps bottom lines protected through Dhanteras and Diwali.
Introducing transaction fees just as footfall surges would have forced retailers to decide whether to absorb the cost or pass it on to buyers (via checkout surcharges or selective discounts). Avoiding this choice prevents awkward billing counter negotiations and cart abandonment during rush hours.
NPCI Defers Rollout Of UPI Merchant Discount Rate Until After Diwali
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