Economy, business and finance
New UPI MDR: Paytm shares jump 3.5 pc; Pine Labs, One Mobikwik pare early gains
Centre introduces 0.4 per cent fee on transfers worth more than Rs 2,000 made to merchants through the platform from October 15
A day after the government introduced a 0.4 per cent fee on transfers worth more than Rs 2,000 made to merchants through the UPI platform from October 15, shares of fintech firms such as Paytm rallied in Wednesday morning (September 16) trade.
The stock of One97 Communications Ltd, which owns the Paytm brand, jumped 7.24 per cent during intraday deals to reach the 52-week high of Rs 1,856.50 on the BSE. It ended the day with gains of 3.50 per cent at Rs 1,791.90.