On 28 September 2026 the Supreme Court asked the Centre, RBI and NPCI to respond within four weeks to a petition against the 0.4% UPI merchant discount rate on payments above ₹2,000, and did not stay it. The charge is due from 15 October.
SEBI does not change its rules by internal decision alone. Since February 2025, its own procedure regulations set out a fixed process: what a consultation paper must contain, the minimum comment period, and when a regulation actually takes effect.
The repo rate is set by a six-member committee under a specific legal process, not by the RBI Governor alone. How the Monetary Policy Committee is constituted, how often it meets, how it votes, and what the repo rate itself mechanically does.
