Neutral impactCorporate Action
‘Seems to be an issue between the broker and client; no govt talks on new UPI MDR’: NSE CEO Ashish Chauhan
Mint 8 hrs ago·26 Sept 2026, 2:43 pm
NSE chief Ashish Chauhan said the National Stock Exchange has not been in any discussions with the government about the new Merchant Discount Rate (MDR) for UPI payments. He framed the issue as a dispute between brokers and their clients, noting that the MDR framework is set to kick in on October 15 and will apply to capital‑market transactions settled via UPI.
The change matters because MDR determines the fee charged on each UPI‑based trade settlement. Higher rates could raise transaction costs for investors, potentially squeezing broker margins or prompting brokers to adjust their own fee structures. Any shift in costs may influence trading volumes, especially for retail participants who rely heavily on low‑cost digital payments.
Investors should keep an eye on any regulatory clarification or broker announcements in the coming weeks. Updates on how brokers plan to pass on or absorb the new MDR, as well as any impact on settlement speeds or platform fees, will be key signals for market participants.
Excerpt from Mint
NSE CEO Ashish Chauhan stated there have been no talks with the government regarding the new Merchant Discount Rate for UPI payments, which he claims is a matter for brokers and clients to resolve. The new MDR framework takes effect on October 15, impacting capital-market transactions. The new UPI Merchant Discount…Read the original at Mint
Key takeaways
- Category: Corporate Action.
- Assessed as a significant, market-relevant update.
Why it matters
A meaningful update worth tracking. Use the price and stock snapshot to gauge how the market is responding.
