◆ Mixed
MDR on UPI over Rs 2000: SC refuses stay; issues notices to govt, RBI, NPCI
RBI is in focus.
28 Sept 2026 · Business Today Mkts
Additional Solicitor General N Venkataraman told the Supreme Court that the UPI MDR is not a tax or a fee.
The analysis
RBI reported Rs 2000. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Why it matters
- With RBI involved, this carries a regulatory dimension that can outlast the immediate market reaction.