Stock market today: In a major move towards UPI MDR implementation in India, the NPCI today announced that the decision has been delayed until Diwali 2026. After the announcement, fintech stocks — Paytm, Pine Labs, PB Fintech, Groww, Mobikwik witnessed a strong rebound from today's lows.
The NPCI declared about the delay in the UPI MDR fee implementation, saying, “UPI and Services Steering Committee today decided that keeping in mind the festival season, Merchant Discount Rate (MDR), on select Person-to-Merchant (P2M) UPI transactions, shall be implemented immediately post Diwali at a date to be notified separately.”
After the news broke about the UPI MDR fee delay till Diwali 2026, fintech stocks witnessed strong buying at the lower levels.
Pine Labs share price shot up from today's low of ₹154.42 apiece to ₹165 per share levels.
Zaggle Prepaid share price bounced back from ₹163.87 to ₹165.50, Paytm brand parent One97 Communications share price bounced back from ₹1571 to ₹1675 within a few minutes.