One 97 Communications shares fall amid RBI action and MDR delay reports

Shares of One 97 Communications, the parent company of Paytm, experienced significant volatility on October 8, 2026, facing sharp declines driven by regulatory and policy developments.

One segment of the sell-off followed the Reserve Bank of India’s decision to cancel the banking license of Paytm Payments Bank (PPBL) due to non-compliance and issues regarding depositor interests. One 97 Communications clarified that it has no material business exposure to PPBL and that the entity operates independently with no overlap in board structure.

Additionally, the stock faced pressure from reports that the rollout of the new Merchant Discount Rate (MDR) framework for UPI transactions might be deferred by more than two months. The proposed framework, which would have levied a 0.4% MDR on certain person-to-merchant transactions, was expected to provide new revenue streams for digital payment firms. The delay has led investors to reassess near-term revenue opportunities for Paytm and other payment companies.

In a separate development, Paytm announced a partnership with Visa to offer exclusive discounts on metro travel, mobile recharges, and utility bill payments for Visa cardholders.