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Who Absorbs UPI MDR? NSE CEO Rules Out Govt Talks As 0.02% Fee On Capital Markets Nears Kickoff
NSE is in focus with 15 October in focus.
27 Sept 2026 · NDTV Profit
NSE CEO Ashish Chauhan said there were no government talks on the new UPI MDR, leaving brokers and clients to address the cost. A 0.02% charge on capital-market UPI payments will apply from 15 October, capped at Rs 300.
Key facts
- Dates in focus
- 15 October
The analysis
NSE reported Rs 300, with movement of 0.02% attached to those lines. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Because the driver here is macro rather than company-specific, the read-through is to index-level positioning rather than to any single name — correlations tend to rise when the whole market faces the same signal.
Why it matters
- With NSE involved, this carries a regulatory dimension that can outlast the immediate market reaction.
Market context
- This is a market-wide development — its reach goes beyond any single stock.