Banking

The Federal Reserve raised its benchmark policy rate by 25 basis points to 3.75%-4%, while the NSE IPO saw its subscription gather pace on Day 2.

Chandan said 45% of the companies in Bajaj Asset Management's coverage beat earnings estimates in Q1, providing a positive backdrop for the earnings outlook.

The RBI has cancelled the licence of Dar's Financial Services, Rolta Holding and Finance Corporation, Vasudeo Securities, Parsoli Corporation, and A C Choksi Financial Services.

Axis Bank expects investments in artificial intelligence and technology to help it grow its business without significantly increasing its workforce.

State Bank of India is expected to benefit most among issuing banks, while Axis Bank Ltd. and Yes Bank Ltd. stand out because of their large roles as payment-service providers.

The association called for a graded structure that separates debit-linked from credit-linked UPI transactions.

According to DFS, any applicable MDR is borne by the merchant, not the customer.

UPI AutoPay payments for mutual fund SIPs, OTT subscriptions and utility bills will not attract MDR, while select one-time P2M transactions above Rs 2,000 will.

As per the erraneous gazette, Indian Bank, Bank of Maharashtra, Central Bank of India would be subject to an acquisition by State Bank of India.

The National Payments Corporation of India has set a 0.4% MDR on person-to-merchant UPI transactions above Rs 2,000 from October 15, with the charge capped at Rs 300 for payments of Rs 75,000 and above.

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

UPI charges explained: Here's what changes from October 15, including the Rs 2,000 threshold, Rs 75,000 cap, small-merchant exemption and sector-wise rates.