FINANCEOUTLOOKINDIAOCTOBER, 20268REPORTRBI NEW FD INTEREST RATE RULES TAKE EFFECT ON OCTOBER 1: KEY CHANGENO UPI DAY ON OCTOBER 2: WHY MOBILE RETAILERS OPPOSE 0.4% MDR?SKYPULSE SOLUTIONS & HAL SIGN RS 2,491 CR MOU FOR 30-HELICOPTER PLANCREDIT CARD SPENDING FALLS 2.8% TO RS 2.02 TRN IN AUGUST: RBI DATASEBI APPROVES NEW PMS FRAMEWORK, EXPANDS INVESTMENT OPTIONSINDIAN HOUSING MARKET: BENGALURU, NCR & MMR LEAD 69% OF RS 2-5 CR SALEThe RBI's revised FD interest rate rules will take effect on October 1, 2026, introducing new requirements for banks to disclose bulk deposit rates daily and maintain uniform rates for similar deposits across branches.The revised FD interest rate guide-lines aim to improve transparency in bulk deposit pricing while allowing banks to retain flexibility based on deposit characteristics and liquidity requirements.The changes follow the RBI's July 30, 2026, amendment to its directions on interest rates on deposits. They will apply to commercial banks and other specified banking categories. Mobile retailers across India will observe October 2 as `No UPI Day', temporarily stopping UPI payments to protest the proposed 0.4% MDR (Merchant Discount Rate) on eligible merchant transactions. The countrywide campaign, organised by the All India Mobile Retailers Association (AIMRA), will coincide with the Gandhi Jayanti and show the problems in the extra cost involved in accepting digital payments.The protest is in anticipation of the new MDR coming into effect on October 15, 2026. Under this frame-work, there will be 0.4% MDR fee on the UPI transactions made by SkyPulse Solutions IFSC Private Limited and Hindustan Aeronautics Limited (HAL) sign a Memorandum of Understanding (MoU) to establish a strategic framework for the acquisition, financing, leasing, deployment and lifecycle support of HAL-manufactured helicopters, with the proposed 30-helicopter programme estimated at Rs 2,491 crore. The partnership brings together HAL's indigenous aerospace and helicopter capabilities with SkyPulse's aviation leasing, financing and asset-management platform at GIFT City IFSC, with the objective of developing commercially sustainable solutions for the wider deployment of Indian-manufactured helicopters across civil, governmental and mission-critical applications. The Indian housing market continued to see strong demand for premium homes in the first half of 2026, with Bengaluru recording the highest sales value in the Rs 2 crore to Rs 5 crore housing segment, according to data from real estate analytics firm CRE Matrix.Around Rs 1.15 lakh crore of sales was made at the Rs 2-5 crore housing segment in major residential markets in India during the first half of 2026. Together, the two cities - Bengaluru, the National Capital Region (NCR) and the Mumbai Metropolitan Region Credit card spending declined 2.8% month-on-month to Rs 2.02 trillion in August 2026, compared with Rs 2.08 trillion in July, according to RBI Data. The decline was primarily driven by a drop in online payments during the month.Online credit card spending fell 7% in August to Rs 1.23 trillion, compared with the previous month. However, e-commerce spending increased 4.77% month-on-month to Rs 79,355 crore. The decline in online spending weighed on overall credit card transactions despite growth in e-commerce spending during the month. The Securities and Exchange Board of India (Sebi) has approved a comprehensive overhaul of the (portfolio management services) PMS person-to-merchant (P2M) transac-tions with a transaction limit of Rs 2,000. Person-to-person transfers and specified small-value merchant payments will remain exempt. (MMR) ­ contributed to Rs 80,293 crore, or nearly 69% of the total value of home sales tracked by CRE Matrix.
< Page 7 | Page 9 >