Keir Starmer is refusing to resign over the Peter Mandelson vetting controversy, as pressure intensifies and a senior Foreign Office official has stepped down to absorb the political damage. Starmer committed to presenting 'relevant facts' on Monday, signaling the government expects to contain the crisis through disclosure rather than personnel changes at the top. The episode centers on the vetting process applied to Mandelson before his appointment, with the handling of that process now costing at least one senior civil servant their position. The Foreign Office official's resignation functions as a conventional accountability mechanism, deflecting pressure from the minister while keeping the principal figures in place. The political risk for Starmer is whether Monday's disclosure satisfies critics or opens fresh lines of attack. Mandelson's appointment itself, and whatever irregularities surrounded vetting, remain the substantive questions. Investors and policy watchers should note that prolonged political distraction at the Foreign Office carries real costs for UK diplomatic continuity and trade-related policy execution.
India's government plans to amend the Payment and Settlement Systems Act to restore UPI merchant discount rates, ending the zero-MDR regime in place since January 2020.
India's government has introduced the Taxation and Other Laws (Amendment) Bill, 2026, proposing changes to payments regulation, income tax, and the Finance Act to attract FDI and support Make in India. The Bill's final shape will depend on parliamentary debate and committee review.
The government's Taxation and Other Laws (Amendment) Bill, 2026, proposes to replace the blanket UPI MDR ban with a system allowing the Centre to notify which payment modes stay fee-free.
Prime Minister Narendra Modi inaugurated the Rs 5,000 crore Bhogapuram greenfield airport in Andhra Pradesh, built under a public-private partnership model. He also laid foundation stones for infrastructure projects worth nearly Rs 18,000 crore in the state, signalling a broad investment push for the region.