ICICI Bank , one of India's leading private sector banks, witnessed significant trading activity on the National Stock Exchange (NSE) with two substantial block deals executed recently.

Block Trade Details

The transactions involved a total of over 920,000 shares of ICICI Bank, with a combined value of approximately Rs. 135.26 crores. Here's a breakdown of the two block trades:

Market Implications

These block deals represent a substantial volume of ICICI Bank shares changing hands in a short period. Such transactions often attract attention from market participants and analysts, as they can potentially indicate shifts in institutional holdings or strategic moves by large investors.

The trades were executed at prices of Rs. 1,469.00 and Rs. 1,469.60 per share, respectively, providing a snapshot of the stock's valuation during these transactions. It's worth noting that block deals of this magnitude can sometimes influence short-term price movements or market sentiment towards the stock.

While the identities of the buyers and sellers involved in these block trades were not disclosed in the available information, such transactions are typically executed between institutional investors, high net-worth individuals, or large corporate entities.

ICICI Bank continues to be a closely watched stock in the Indian banking sector, and these block deals underscore the ongoing interest in the company's shares among significant market players.

ICICI Bank , one of India's leading private sector banks, is set to implement a new fee structure for payment aggregators processing UPI transactions. The change, scheduled to take effect from August 1, marks a significant shift in the UPI ecosystem.

Fee Structure Details

The new fee structure is as follows:

It's important to note that transactions settled directly into ICICI Bank merchant accounts will remain fee-free.

Industry Context

ICICI Bank is not the first to introduce such fees. Yes Bank and Axis Bank have been charging similar fees for the past 8-10 months. This move by ICICI Bank aligns with the growing trend in the banking sector to offset costs associated with UPI transactions.

Understanding the Charges

While UPI transactions continue to maintain zero Merchant Discount Rate (MDR) as mandated by the government, banks incur switch fees charged by the National Payments Corporation of India (NPCI). Some banks are now passing these costs onto payment aggregators.

Impact on Merchants

Payment aggregators typically transfer these costs to merchants through various means:

1. Platform fees
2. Reconciliation charges

This new fee structure may potentially impact the overall cost structure for merchants using payment aggregator services for UPI transactions.

The Broader UPI Ecosystem

This development highlights the evolving nature of the UPI ecosystem:

• Banks are seeking ways to recover costs associated with UPI infrastructure
• Payment aggregators play a crucial role in the transaction chain
• The zero MDR policy continues to shape the financial dynamics of UPI transactions

As the digital payments landscape in India continues to grow, such changes in fee structures may have significant implications for all stakeholders in the UPI ecosystem, from banks and payment aggregators to merchants and consumers.