Yes Bank shares are also seeing a 2% increase. The bank has given a negative return of 9% in one year
Shares of Paytm and MobiKwik surged after UPI MDR rollout: Shares of companies associated with Paytm and MobiKwik rose after the stock market opened on Wednesday. This is believed to be due to NPCI’s new decision regarding UPI payments. Shares of One 97 Communications, Paytm’s parent company, rose 4% to ₹1,810 in early trading. Shares of One MobiKwik Systems also gained 4.70% to trade at ₹210.32.
Paytm shares rose 4% today. The company’s shares have returned 56% in the past three months and 40% in one year. One MobiKwik Systems’ shares also rose more than 4%. However, the company’s shares have given a negative return of 36% in one year. Additionally, Yes Bank shares are also seeing a 2% increase. The bank has given a negative return of 9% in one year.
NPCI announced on Tuesday that the government will implement a new system of Merchant Discount Rate (MDR) for selected UPI transactions. Under the new rule, from October 15, MDR up to a maximum of 0.4% will be levied on some person-to-merchant (P2M) UPI payments of more than ₹2,000. However, the same rate will not be applicable to all transactions. Lower rates will be kept for some categories, and small businesses will also get an exemption. The biggest thing for common UPI users is that MDR will be zero on P2M transactions up to ₹2,000.
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