Pending — not yet graded
“Bullish on the overall UPI ecosystem, estimating an industry opportunity of ₹15,000 crore to ₹18,000 crore from the new UPI MDR charges. This revenue pool will be shared among issuing banks, acquiring banks, payment apps, and other participants, with high-value transactions (above ₹2,000) representing 67% of transaction value for FY26.”
Jefferies Analysis’s track record: 3 graded calls · 95% CI 44–100%
Fintech/PaymentsBullishCalled 17 Sep 2026
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