Paytm and Mobikwik Shares Fall After UPI MDR Deferment News

On October 8, 2026, Paytm share price fell amid news that the Reserve Bank of India was considering deferring the UPI merchant discount rate (MDR) implementation from October 15 to January 1. The move triggered intraday sell-offs across India's fintech sector, with investors weighing the potential impact on digital payment revenues.

(ThePrint Hindi report)

UPI MDR Deferment Announcement

The UPI MDR deferment remains a proposal under consideration; final approval and effective date had not been confirmed as of the October 8 close, as per multiple reports. Earlier, the government had permitted MDR collection, raising expectations of additional revenue for fintechs, but the reported delay reversed that sentiment.

Paytm Share Price Movement

Paytm's parent company, One97 Communications, saw its shares trade down as much as 10% intraday, falling to ₹1,560.60 per share, before paring losses to close 5.42% lower at ₹1,640. (ThePrint Hindi report)

Mobikwik Share Price Movement

Mobikwik shares followed a similar pattern, dropping up to 8.43% intraday to ₹234.40 before closing 4.57% lower at ₹244.30. The decline was linked to the same policy reports, though the magnitude of fall was slightly less than Paytm's intraday peak. (Upstox Hindi)

Analyst Outlook and RBI Action

Goldman Sachs maintained a positive stance, stating that incorporating the newly announced UPI MDR could raise Paytm's earnings per share estimates by up to 39% and boost EBITDA projections by as much as 40%. The firm noted Paytm's underlying market share, revenue growth, and margin momentum remained strong despite the regulatory noise.

Separately, the Reserve Bank of India delisted Paytm Payments Bank Ltd from the scheduled banks list in September 2026, a distinct regulatory action from the UPI MDR deferment. The central bank had previously restricted PPBL from onboarding new customers in March 2022 and ultimately cancelled its banking license in April 2026 due to operational concerns.

Search Interest and Google Trends

Google Trends data observed on October 8, 2026, showed the term 'शेयर प्राइस' with approximately 5,000 searches and a 400% increase in interest over the past 24 hours. This spike reflects heightened public search activity, though trend volume does not equate to website traffic or news veracity.