National News
Treasures By Tiara Unveils Mumbai Flagship and Café Concept At Cumballa Hill
New Destination Blends Fine Jewellery, Hospitality and Experiential Retail, Reflecting The Evolving Face Of Luxury Shopping
Treasures by Tiara has expanded its presence in Mumbai with the launch of its new flagship store and The Treasures Café at Cumballa Hill, introducing a distinctive retail concept that combines fine jewellery with a curated café experience.

Founded by Tiara Dhody, the brand has designed the space as more than a traditional jewellery showroom. The flagship aims to offer visitors a slower, more immersive retail journey, where customers can engage with jewellery in a relaxed environment rather than through conventional display counters.

The launch was marked by an intimate evening gathering attended by celebrities, industry guests and well-wishers. Designed with soft golden lighting, antique silver accents, rich textures and thoughtfully curated interiors, the space creates an atmosphere that feels elegant, personal and inviting. Jewellery pieces are integrated throughout the café and retail environment, encouraging visitors to discover collections organically as they move through the space.
At the heart of the concept is The Treasures Café, which offers a menu featuring sourdough sandwiches, pancakes, specialty coffees and signature beverages. The café has been envisioned as an extension of the brand experience, allowing customers to spend time exploring collections at their own pace while enjoying a comfortable and welcoming setting.
The launch reflects a broader transformation taking place across the luxury retail landscape. Increasingly, consumers are seeking experiences that go beyond transactions, favouring environments that foster deeper engagement with brands. In the jewellery sector, where purchases are often highly personal and considered, such experiential formats are gaining relevance.

Known for its silver jewellery adorned with precious stones, Treasures by Tiara offers a diverse portfolio that includes rings, earrings, necklaces, bracelets, cuffs and cufflinks for both men and women. The brand has also expanded into fashion accessories, including gloves and corsets, further strengthening its design-led identity.
Having previously showcased its creations at London Fashion Week, the brand has steadily built a growing clientele in Mumbai and beyond. The opening of the Cumballa Hill flagship marks an important milestone in its growth journey, bringing together jewellery, hospitality and design under one roof and offering a fresh perspective on contemporary luxury retail.
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.
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