Economy

UPI MDR could materially boost payment-industry earnings. Goldman Sachs, Morgan Stanley, UBS and Citi estimate the revenue pool and stock impact.

According to New Zealand's Trade and Investment Minister Todd McClay, the agreement will make 57% of New Zealand's exports to India duty-free from day one, with tariffs eliminated or significantly reduced on 95% of exports once fully implemented.

Brent crude held above $108 a barrel on Wednesday, remaining near a four-month high as disruptions to Middle Eastern oil infra added to concerns over global supply. WTI crude stayed above $105 a barrel.

UPI users can transfer more than Rs 2,000 to another individual without paying any levy. The government has clarified that all person-to-person transactions will remain free, meaning even Rs 50,000 transfers will not attract MDR.

RBI says MDR on large-value UPI payments will support investment, wider acceptance and the long-term sustainability of digital payments.

The two-day ministerial will begin on September 30. The United States holds the 2026 G20 presidency.

Even though India's growth outlook and domestic liquidity can provide some insulation, a sustained rise in US bond yields could make foreign investors more selective about allocating capital to Indian stocks.

US Treasury Secretary Scott Bessent said rising bond yields were driven by "global issues" as the 10-year Treasury yield approached levels last seen in 2007.

UPI remains free for consumers, while select merchant payments above Rs 2,000 will attract MDR from October 15.

Observers and policymakers are closely monitoring whether the domestic economy can handle this new wave of instability as well as it managed during the market disruptions from March to July

Total edible oil stocks stood at 20.43 lakh tonnes as of September 1, up 31,000 tonnes from 20.12 lakh tonnes a month earlier.

Imports increased to $76.8 billion from $65.6 billion, while exports rose to $45.1 billion from $37.4 billion.