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A new 0.4% UPI Merchant Discount Rate (MDR) will apply to eligible Person-to-Merchant (P2M) transactions above ₹2,000 from October 15, 2026. The fee will be capped at ₹300 for transactions of ₹75,000 or more, while small merchants and low-value payments remain protected under specified exemptions.
The Reserve Bank of India (RBI) absorbed ₹71,971 crore from the banking system through an overnight variable rate reverse repo (VRRR) auction on September 22, as banks continue to hold substantial surplus liquidity. At the same time, the central bank cautioned lenders against entering a loan price war, warning that aggressive lending could eventually affect credit quality.
Chandrasekaran, who has led Tata Sons since 2017, had announced on August 12 that he would not seek another term after his current tenure expires on February 20, 2027. However, following a request from the company's Nomination and Remuneration Committee, he agreed to reconsider. The board subsequently voted 4-1 in favour of his reappointment, with Tata Trusts chairman Noel Tata voting against it.
