September 24, 2026: Indian financial markets came under pressure on September 24, with the Sensex falling 1,248 points and the Nifty declining 384 points. Meanwhile, IRDAI proposed changes to the insurance distribution framework, while RBI and NPCI officials highlighted developments in banking technology, liquidity and UPI transactions.
Top India Headlines
- Sensex plunges 1,248 points to close at 73,581; Nifty falls 384 points
Benchmark equity indices declined sharply on September 24, with the Sensex losing 1,248 points to settle at 73,581 and the Nifty falling 384 points to 23,063. The Midcap 100 and Smallcap 100 indices also declined. - IRDAI proposes overhaul of insurance distribution framework
The Insurance Regulatory and Development Authority of India has proposed a three-tier insurance distribution architecture, lower expense limits, revised commission structures and stronger safeguards against mis-selling. - 96% of UPI transactions below ₹2,000 and outside new MDR regime: NPCI CEO
NPCI Managing Director and CEO Dilip Asbe said around 96% of UPI transactions are below ₹2,000, while about 75% of transaction volumes would remain outside the scope of the new merchant discount rate regime. - RBI Deputy Governor says technology becoming part of banks’ risk architecture
RBI Deputy Governor Rohit Jain said technology is increasingly becoming part of banks’ risk architecture rather than merely serving as an enabler. He was speaking at the 13th SBI Banking & Economics Conclave 2026 in Mumbai. - Government cautions public against investing in Nidhi Companies without checks
The Ministry of Corporate Affairs has advised the public to conduct proper background checks before investing in Nidhi Companies, particularly when investments are accompanied by promises of high returns. - RBI absorbs ₹75,026 crore through overnight VRRR auction
The Reserve Bank of India absorbed ₹75,026 crore from the banking system through an overnight Variable Rate Reverse Repo auction amid surplus liquidity. The cut-off and weighted average rate stood at 5.24%. - Government says UPI MDR will not burden small merchants or make digital payments expensive
The government clarified on September 22 that GST on UPI Merchant Discount Rate would not burden small merchants or make digital payments more expensive. NPCI also said reports suggesting otherwise were incorrect. - RBI receives over $143.5 billion through special forex swap facility
RBI data showed that its special USD-INR forex swap facility had received more than $143.5 billion in forex inflows by September 18, 2026, with FCNR-B deposits accounting for the bulk of the inflows. - Jitendra Singh discusses India-EU FTA and technology cooperation with European Parliament delegation
Union Minister Jitendra Singh held discussions with a European Parliament delegation on implementation of the India-EU FTA and technology cooperation in New Delhi on September 22.
