Episode Details

1. NSE to launch IPO amid investor caution over derivatives-fuelled growth

The National Stock Exchange is set to launch its ₹22,569-crore IPO, making it one of India’s largest public offerings. However, investors are weighing the valuation against slowing derivatives trading volumes, a key growth driver for the exchange. The offer is entirely an offer-for-sale by existing shareholders, valuing NSE at around $46 billion.

2. EPFO wage ceiling raised to ₹25,000

The Union Cabinet has approved an increase in the EPFO wage ceiling from ₹15,000 to ₹25,000 per month. The move is expected to benefit nearly 8 crore subscribers by boosting provident fund savings and social security coverage, while also increasing monthly PF contributions for eligible employees.

3. Fuel retailers urge government to exempt MDR charges

Fuel retailers have requested an exemption from the proposed ₹5 Merchant Discount Rate on UPI transactions above ₹2,000. Petrol pump operators argue that their already thin margins make it difficult to absorb additional payment-processing costs and warn they may stop accepting larger UPI payments if relief is not granted.

4. UPI MDR opens new revenue pool for PSPs

The introduction of MDR on select UPI transactions above ₹2,000 could create a new revenue stream for payment service providers such as PhonePe and Paytm. Industry participants say the eventual benefit will depend on how the fee is shared among banks, PSPs and UPI app providers.

(Research and VO: Siddharth Mathew Cherian)