Policy● Neutral for Indian equities
Industrial marketplace Pneucons disables UPI on orders from Oct 10, co-founder says ‘MDR ate 94% of our margins’
The brief
- Pneucons will discontinue UPI payments from October 10, citing a 0.4% MDR charge on orders over ₹2,000
- The co-founder said MDR ate 94% of the company’s margins
- UPI transactions rise 27% to 145 billion in H1 FY27 ahead of new MDR
- UPI volume rises 27% to touch 145 billion in first half of FY27
- Banks shut for Gandhi Jayanti on October 2; digital services and ATMs remain available
- Indian Bank may waive 0.28% MDR on UPI transactions
- UPI usage holds steady in September despite backlash over new MDR norms