UPI MDR Exemption Clarification, Tata Sons Boardroom Row And Stock Markets
A morning business bulletin covers key financial developments, policy updates, and corporate events. The central government has clarified that there is no proposal to rethink Merchant Discount Rate on the Unified Payments Interface, nor is there any proposal to exempt fuel from it, while efforts with the Indian Banks' Association are being explored to ensure costs are not passed to consumers. In corporate updates, Tata Sons has rejected Noel Tata's objections to the reappointment of N. Chandrasekaran, citing majority board validity and legal opinions from former Chief Justice of India U. U. Lalit and former Supreme Court Judge B. N. Srikrishna ahead of shareholder ratification. Meanwhile, domestic stock indices opened mildly lower with the Nifty near 23,054, amid fluctuations in IT and banking shares alongside commentary on Insurance Regulatory and Development Authority of India consultation proposals. Additionally, the bulletin touches upon Union Commerce Minister Piyush Goyal's remarks on trade pact negotiations and a high-profile dinner hosted in Washington.
